Jaxon Mining Inc (CVE:JAX) (OTCMKTS:JXMNF) said advancing its discoveries at the Hazelton property in British Columbia is a priority in 2019.
The company said in a filing Friday that it plans to focus on the new Backbone Prospect with geophysics and drilling and by testing anomalies found this year.
Jaxon added that it plans to reprocess geophysics from the Max Zone at Hazelton to narrow down second-stage drilling targets.
For the fiscal year ended January 31, 2018, the company reported a net loss of C$1.1 million, compared with a net loss of almost C$559,000 a year earlier.
Earlier this month, Jaxon said it was pleased with competed surveys at its Red Springs project.
The company reported that 23-line-kilometers of two-dimensional induced polarization and ground magnetic surveys identified multiple high-priority chargeability anomalies for both the gold-cobalt tourmaline breccia mineralization and a number of associated porphyry targets.
Contact Dennis Fitzgerald at [email protected]