GUEST FEATURE

The Forgotten Gold Rush at Studhorse Creek

By Frank Tabbert

When we look at legendary gold rushes, immediately, California or the Klondike come to mind. Sam Steele of The Northwest Mounted Police, the forerunner to the RCMP was another legend restoring law and order among the bandits, claims jumpers, and the usual rowdy saloons and dance hall girls.

Actually, Sam, was a great soldier before he earned his stripes as a mountie and was respected by miners and First Nations people alike for his fair handling of disputes. Not,just  the Klondike but in the East Kootenays while stationed at Galbraith’s Landing later named Fort Steele in his honour.

Gold had been discovered at Studhorse Creek by American prospectors, now named Wildhorse Creek, where it empties into the Kootenay River. Fortune seekers flooded in from the USA and Canada and in 1864 more than 1.5 million ounces worth 7 million dollars was recovered from the river that year.

As the gold in the creeks tapered off, news of the Klondike sent the fortune seekers north along with Canada’s most famous mountie. The Wildhorse and the other nearby placer creeks still yield gold today and Wildhorse is considered to be one of the best placer creeks in British Columbia.

The source of the gold is yet to be discovered as the Wildhorse has been out of the spotlight for many years, but methinks, NOT FOR LONG  John Keating, President of PJX Resources Inc. PJX.V earlier in his career, while working for a major, realized the potential of this area and years later when he saw the opportunity to option properties in the target source areas where the former operator had spent  a few million bucks laying the groundwork, He formed PJX Resources using his negotiating skills learned when he worked for the big guys dealing with the little guys, and as a result inked some incredible deals and will not be giving away the farm in any future JV or take over.

The targets are numerous and a future drill program is being mapped out .The targets are numerous. The Dewdney Trail property above the headwaters of the Wildhorse is the main focus and this story gets better. PJX’s other area properties have all the right ingredients required to host a SHV deposit (sediment hosted veins) which is the trademark of most of the great world class gold deposits, notably in Russia.

Add to that the properties are located near Cranbrook, British Columbia. No need for a camp. Workers can stop at the local McDonald’s for lunch and all work is done on a contract basis which helps to keeps a better control of costs. Finances are in the capable hands of CFO, Linda Brennan, who doubles as Investor Relations plus other duties. Mean when it comes to deals and lean when it comes to unnecessary spending.

With the numerous similarities their properties have to that of the famous Sullivan mine, in nearby Kimberley,  John Keating has been at the forefront in using and analyzing the latest VTEM airborne technology to map out the best strategy going forward..It was Keating’s employer back then that had him and his team explore the area with high hopes of finding another SULLIVAN, only to have the go ahead to drill delayed when he was required at their Timmins operation and the program was eventually dropped because of low commodity prices..

The company went public about a year ago at 20 cents  and although, even the best of the producing and near producers are down almost 50% since then, PJX has held up well and this tightly held thinly traded stock, today sits at just under its original issue price, but in my opinion, NOT FOR LONG. Many of the original participants in the IPO have been adding to their positions in this largely unknown company. Only 23 million shares are outstanding and it trades by appointment, so it is very difficult to get your trade filled on the cheap.

I have been adding to my position and certainly recommend this stock be considered for the speculative section of your investment portfolio. I am not an analyst, geologist or professional and the opinions here expressed are my own.

When people become aware of this company together with any new drill program announcement, the stock should move much higher and with a  future decent drill hole announcement a POTENTIAL TEN BAGGER

http://www.pjxresources.com

CONTENT POSTED ON THIS BLOG DOES NOT CONSTITUTE A BUY OR SELL RECOMMENDATION. MANY OF THE COMPANIES PROFILED HERE I AM NOT INVESTED IN AND DO NOT INTEND TO INVEST IN. THESE ARE MERELY MY THOUGHTS ON MARKET CONDITIONS AND STOCK VALUATIONS. INVESTING IN THE STOCK MARKET CAN BE VERY RISKY AND YOU SHOULD ALWAYS CONSULT AN INVESTMENT PROFESSIONAL BEFORE MAKING ANY DECISIONS. ULTIMATELY YOU ARE RESPONSIBLE FOR CONDUCTING YOUR OWN DUE DILIGENCE AND PROTECTING YOUR MONEY.