PJX Resources Inc., a gold exploration company, increased its land holdings 45 percent in a highly prospective area of British Columbia, Canada, the Toronto-based company said Tuesday.
PJX increased its land holdings from 27,900 hectares to over 40,700 hectares, at its gold properties near Cranbrook, British Columbia.
The new claims are contiguous with favorable geology hosting gold mineralization on the properties.
The increased holdings follow a Sept. 14 option agreement with SG Spirit Gold Inc., formerly Ruby Red Resources, to earn up to an 80 percent interest in four separate gold exploration properties: the Dewdney Trail Gold property; the Eddy Gold property; the Zinger Gold property; and the Vine property.
PJX has optioned the additional claims from SG Spirit Gold Inc. The new claims have been added as an amendment to the existing option agreement between the two companies with no change in the terms or conditions of the original agreement.