Jaxon Announces $1.8 Million Strategic Investment and Commencement of Drill Program

Jaxon Mining (TSX.V: JAX) (Frankfurt: OU31) is pleased to announce it has arranged a strategic investment from the Zijin Midas Exploration Fund, a subsidiary of Zijin Mining Group Co. Ltd. of China, and certain other investors, of up to 5,625,000 flow-through shares at a price of $0.32 per share for gross proceeds of $1.8 million. Proceeds will contribute to funding Jaxon’s Fall/Winter 2017 drill program at its Hazelton silver-zinc VMS target in BC’s prolific Skeena Arch.
Jason Cubitt, Jaxon’s President and CEO, commented:

“The Zijin Midas Exploration Fund is a cornerstone strategic investor and we welcome their continued support.” He continued, “We’re excited to be mobilizing to the field for a Phase 1 drill program at the Hazelton project.
We have a host of high priority targets to drill test—many beneath interpreted feeder zones associated with bonanza grades of silver and zinc at surface in outcrop.”

A detailed 3-dimensional drill model has been produced based on an integrated compilation of historic and recent fieldwork and airborne geophysics.
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