PJX in danger of making a Sullivan 2 discovery

Drilling at the Estella Basin target is finally underway and the countdown for a Sullivan 2 discovery hole has begun

PJX Resources Inc is a discovery exploration type junior which is a Fair Speculative Value rated Favorite with a high priority ranking based on its 100% owned Dewdney Trail project in southeastern British Columbia. In late 2023 Sullivan style exhalative massive sulphide boulders were discovered in talus not far from the former zinc-lead-silver Estella vein mine which shifted the focus from the Lewis Ridge SEDEX target to what is now known as the Estella Basin target. Permitting and road building delays resulted in late starts to drill programs in 2024 and 2025 which failed to intersect mineralization that qualifies as the source of the boulders. What was initially thought to be an east dipping Proterozoic sedimentary layer cake obscured by a Jurassic aged syenite dyke turns out to have been complicated through folding and later faulting as well as dyking. PJX participated in my Toronto MIF session and I recommend anybody who wants to catch up watch John Keating’s PJX Presentation as well as the Backstage Interview. After a snow related delay drilling this year began during the third week of July and PJX is now in the discovery time zone where core in the box visuals would speak loudly to those within earshot.

On Friday July 31, 2026 three hours after the open on what had been a very slow trading day for PJX a purchaser entered the market through Anonymous using a bot that bought stock in 500 share increments spaced up to 30 seconds apart until quitting 12 minutes before the close, soaking up 363,000 shares of the 486,303 shares that traded, or 75% of the volume. The stock closed up $0.06 at $0.25 thanks to a 24,000 share buying burst by a TD trader 6 minutes before the close, setting the highest price since the summer of 2024 when the market had high expectations for an instant discovery. I was not watching the stock on Friday so I am speculating that the Anonymous party on the sell side was an unmonitored iceberg order (an iceberg order does not reveal its full size, but automatically replenishes stock for sale as soon as somebody places an order at the offering price).

Given that it took a month to close the financing and that the stock has been easy to buy for the past year, it seems very peculiar that somebody would be overwhelmed by a sudden need a week after drilling began to surreptitiously buy a position at the offer using a bot on a Friday on the last day of the month. Because this activity smells so suspiciously of a cheater with inside information, it is hard to imagine anybody stupid enough to do such a thing, and it is best to assume that a discovery hole is not yet in the core box. In any case, everybody who follows PJX should be aware that discovery news could arrive any day. And if the Estella Basin target still frustrates, PJX has plans to test the Grundy Creek and Lewis Ridge targets this season. So this is the year PJX could finally hit the ball out of the park.