(TheNewswire)
Vancouver, British Columbia – TheNewswire - July 22nd, 2024 – Juggernaut Exploration Ltd (JUGR.V) (OTCQB:JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) is pleased to report that drilling has recently commenced onits 100% controlled Bingo property. Following the discovery ofmultiple new sulphide-rich outcrops on surface, the drill program hasbeen expanded to ~3,000 meters of drilling planned in 14 holes from 7pad locations on 600 meters by 350 meters Bingo Main Zone on the Bingoproperty in world class geologic terrane.
Drilling includes expansion along strike and to depthof known mineralization at the high-grade gold-silver-copper shearhosted vein at Bingo as well as testing a series of new cobalt-richand native copper outcrops recently identified by the mapping crewcurrently working on the property.
Dan Stuart, President and CEO ofJuggernaut Exploration, states, “We are excited to resume drilling on our 100% controlled Bingoproperty after the successful inaugural drill programs carried out in2023. We designed a comprehensive drill plan that will allow us toexpand the high-grade gold-silver copper and cobalt mineralization atBingo along strike and depth. The discovery of highly economic cobaltvalues at surface prompted the Company to revise the calculated AuEqvalues of the 2023 drill core assay results where cobalt wasoriginally omitted, increasing its value by >20%.”
Bingo Property Highlights:
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Early season mapping and prospecting resulted in thediscovery of multiple new outcrops along strike with the Bingo MainZone containing semi-massive chalcopyrite, pyrite and cobalt-richsulphide mineralization as well as native copper extending the BingoMain Zone by 100 m to the south from 350 meters to 450 meters andremains open along strike and at depth. Outcrop 1image Outcrop 2image Outcrop 3image , Outcrop 4image
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The discovery of highly economic cobalt values on surface prompted the Company to revise the calculatedAuEq values of the 2023 drill core assay results where cobalt wasoriginally omitted, increasing it’s value by 20%:
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Drill hole BI-23-01 intersected 12.09gpt AuEq (7.57 gpt Au, 20.23 gpt Ag, 2.72 % Cu and 1624 ppm Co) over5.11 meters (increased from 11.42 gpt AuEq (7.57gpt Au, 20.23 gpt Ag and 2.72 % Cu) over 5.11 meters);
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Drill hole BI-23-04 intersected 5.25gpt AuEq (2.52 gpt Au, 11.05 gpt Ag, 1.16 % Cu and 2468 ppm Co) over10.12 meters, including 8.05 gpt AuEq (4.01 gpt Au, 17.37 gpt Ag, 1.85% Cu and 3179 ppm Co) over 5.89 meters (increased from 4.23 gpt AuEq (2.52 gpt Au, 11.05 gpt Ag and1.16 % Cu) over 10.12 meters, including 6.74 gpt AuEq (4.01 gpt Au,17.37 gpt Ag and 1.85 % Cu) over 5.89 meters);
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Drill hole BI-23-02 intersected 5.36gpt AuEq (2.86 gpt Au, 8.72 gpt Ag, 1.39 % Cu and 1325 ppm Co) over7.05 meters (increased from 4.81 gpt AuEq (2.86gpt Au, 8.72 gpt Ag and 1.39 % Cu) over 7.05 meters); and
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Drill hole BI-23-03 intersected 2.62gpt AuEq (1.39 gpt Au, 4.06 gpt Ag, 0.58 % Cu and 982 ppm Co) over5.78 meters, including 2.97 gpt AuEq (1.66 gpt Au, 4.58 gpt Ag, 0.62 % Cu and 987 ppm Co)over 4.73 meters (increased from 2.22 gpt AuEq(1.39 gpt Au, 4.06 gpt Ag and 0.58 % Cu) over 5.78 meters, including2.56 gpt AuEq (1.66 gpt Au, 4.58 gpt Ag and 0.62 % Cu) over 4.73meters).
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The program on the Bingo property will consist of ~3000meters of drilling (from 7 pads and 14 holes) designed to expand theknown high-grade gold-silver-copper-cobalt mineralization along strikeand to depth on the Bingo Main Zone that remains open, as well astesting additional shear zones at depth and new showings discovered in2024. Bingo PropertyMap
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Mapping and prospecting on the property, including theDouble Down Hinge Zone highlighted by an airborne magnetic survey willcontinue throughout the season in preparation for future drilling. 2023 BingoDoubledown
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High-grade gold-silver-copper-cobalt mineralization hasbeen intersected in multiple inaugural test drill holes in 2023collared from within the Bingo Main Zone along a north trending,west-dipping, shear hosted vein within a 600 meters by 350 metersprecious metal rich mineralized corridor that remains open. 3d Model
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The broad sulphide-rich mineralized vein consists ofsemi-massive aggregates and stockwork of chalcopyrite (up to 10 %),pyrrhotite (up to 10 %), and cobalt-rich sulphides, with minor pyriteand galena, part of a shear hosted vein within a strongly altereddiorite unit that remains open to the north, south and todepth.
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The maiden drill program in 2023 on this discoveryconfirmed strong gold-silver-copper-cobalt mineralization on the BingoMain outcrop to a depth of 40 meters that remains open, leaving over90% of the known mineralized corridor untested.
Early season mapping and prospecting on the Bingoproperty resulted in the discovery of multiple new outcrops alongstrike with the Bingo Main Zone containing semi-massive chalcopyrite,pyrite and cobalt-rich sulphide mineralization as well as nativecopper extending the Bingo Main Zone by 100 m to the south from 350meters to 450 meters and remains open. The discovery of highly economiccobalt values on surface prompted the Company to revise the calculatedAuEq values of the 2023 drill core assay results where cobalt wasoriginally omitted, increasing it’s value by >20%. Outcrop 1image , Outcrop 2image , Outcrop 3image , Outcrop 4image
Results from the 2023 drill season include 4 holescollared from Pad 1 located in the northern part of the Bingo MainZone, which intersected broad sulphide-rich mineralized horizonconsisting of semi-massive aggregates, and stockwork of chalcopyrite(up to 10 %), pyrrhotite (up to 10 %) and cobalt-rich sulphides, withminor pyrite and galena, that are part of a shear hosted vein within astrongly altered diorite unit that remains open to the north, southand to depth. Drill holeBI-23-01 intersected 12.09 gpt AuEq (7.57 gpt Au, 20.23 gpt Ag, 2.72 %Cu and 1624 ppm Co) over 5.11 meters. Drill hole BI-23-04 intersected5.25 gpt AuEq (2.52 gpt Au, 11.05 gpt Ag, 1.16 % Cu and 2468 ppm Co)over 10.12 meters, including 8.05 gpt AuEq (4.01 gpt Au, 17.37 gpt Ag,1.85 % Cu and 3179 ppm Co) over 5.89 meters. Drill hole BI-23-02intersected 5.36 gpt AuEq (2.86 gpt Au, 8.72 gpt Ag, 1.39 % Cu and1325 ppm Co) over 7.05 meters. Drill hole BI-23-03 intersected 2.62 gpt AuEq (1.39 gpt Au, 4.06gpt Ag, 0.58 % Cu and 982 ppm Co) over 5.78 meters, including 2.97 gptAuEq (1.66 gpt Au, 4.58 gpt Ag, 0.62 % Cu and 987 ppm Co) over 4.73meters. 3d Model
Table 1: Selected 2023 Bingo drill hole assay resultsrecalculated with Co included in AuEq.
Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | Pb (%) | Zn (%) | Co (ppm) | AuEq (g/t) | |
BI-23-01 | Interval | 24.39 | 29.50 | 5.11 | 7.57 | 20.23 | 2.72 | 0.01 | 0.10 | 1624.44 | 12.09 |
Including | 25.58 | 28.48 | 2.90 | 13.0 | 34.93 | 4.70 | 0.02 | 0.17 | 2604.85 | 20.77 | |
BI-23-04 | Interval | 41.1 | 51.22 | 10.12 | 2.52 | 11.05 | 1.16 | 0.01 | 0.15 | 2468.69 | 5.25 |
Including | 42.18 | 48.07 | 5.89 | 4.01 | 17.37 | 1.85 | 0.01 | 0.24 | 3179.83 | 8.05 | |
BI-23-02 | Interval | 25.95 | 33.00 | 7.05 | 2.86 | 8.72 | 1.39 | 0.01 | 0.07 | 1325.60 | 5.36 |
Including | 27.85 | 31.15 | 3.30 | 5.69 | 17.36 | 2.70 | 0.01 | 0.14 | 2087.29 | 10.35 | |
Including | 27.85 | 30.30 | 2.45 | 7.31 | 23.11 | 3.58 | 0.02 | 0.18 | 2522.45 | 13.39 | |
BI-23-03 | Interval | 23.22 | 29.00 | 5.78 | 1.39 | 4.06 | 0.58 | 0.01 | 0.07 | 982.05 | 2.62 |
Including | 24.27 | 29.00 | 4.73 | 1.66 | 4.58 | 0.62 | 0.01 | 0.07 | 987.39 | 2.97 | |
Including | 24.27 | 25.19 | 0.92 | 6.77 | 21.30 | 2.69 | 0.02 | 0.29 | 2440.00 | 11.67 |
Widths are reported in drill core lengths and AuEqmetal values are calculated using Au 1997.07 USD/oz, Ag 22.96 USD/oz,Cu 3.83 USD/lbs, Pb 1997.50 USD/ton, Zn 2397.00 USD/ton on December 8,2023 and Co 12.00 USD/lbs on July 2, 2024.
Table 2: Selected 2023 Bingo drill hole assay resultsoriginally reported without Co included in AuEq.
Pad ID | Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | Pb (%) | Zn (%) | AuEq (g/t) | |
Pad 1 | BI-23-01 | Interval | 24.39 | 29.50 | 5.11 | 7.57 | 20.23 | 2.72 | 0.01 | 0.10 | 11.42 |
Including | 25.58 | 28.48 | 2.90 | 13.05 | 34.93 | 4.70 | 0.02 | 0.17 | 19.69 | ||
BI-23-04 | Interval | 41.1 | 51.22 | 10.12 | 2.52 | 11.05 | 1.16 | 0.01 | 0.15 | 4.23 | |
Including | 42.18 | 48.07 | 5.89 | 4.01 | 17.37 | 1.85 | 0.01 | 0.24 | 6.74 | ||
BI-23-02 | Interval | 25.95 | 33.00 | 7.05 | 2.86 | 8.72 | 1.39 | 0.01 | 0.07 | 4.81 | |
Including | 27.85 | 31.15 | 3.30 | 5.69 | 17.36 | 2.70 | 0.01 | 0.14 | 9.49 | ||
Including | 27.85 | 30.30 | 2.45 | 7.31 | 23.11 | 3.58 | 0.02 | 0.18 | 12.35 | ||
BI-23-03 | Interval | 23.22 | 29.00 | 5.78 | 1.39 | 4.06 | 0.58 | 0.01 | 0.07 | 2.22 | |
Including | 24.27 | 29.00 | 4.73 | 1.66 | 4.58 | 0.62 | 0.01 | 0.07 | 2.56 | ||
Including | 24.27 | 25.19 | 0.92 | 6.77 | 21.30 | 2.69 | 0.02 | 0.29 | 10.67 |
Widths are reported in drill core lengths and AuEqmetal values are calculated using Au 1997.07 USD/oz, Ag 22.96 USD/oz,Cu 3.83 USD/lbs, Pb 1997.50 USD/ton and Zn 2397.00 USD/ton on December8, 2023.
The program on the Bingo property will consist of ~3000meters of drilling designed to expand the known high-gradegold-silver-copper-cobalt mineralization along strike and to depth onthe Bingo Main Zone, as well as testing additional shear zones atdepth and new showings discovered in 2024. Mapping and prospecting onthe property, including the Double Down Hinge Zone highlighted by anairborne magnetic survey will continue throughout the season inpreparation for future drilling.
The mineralized shear hosted vein was intersected in anarrow copper-rich interval from a drill hole in the southern part ofthe Bingo Main Zone 200 m south of Pad 1 from 2023, where a surfacegrab sample assayed 9.79 gpt Au. Drilling in this area in 2024 isdesigned to fully test the southern extent of the mineralizedcorridor. Mapping and drilling have shown that the mineralized veinpinches and swells and is parallel to the axial plane of a moderatesize fold identified in the magnetic signature of the Bingo Main Zone.The 2023 drill program has helped better understand the geometry ofthe mineralized vein which is steeply dipping on surface and rotatesto 45 degrees to the west at deeper levels. The 2024 drill program isdesigned to expand on the depth and strike extent of the high-gradegold-silver-copper mineralization in the northern part of the BingoMain Zone, where a step-out pad will allow to test the vein at depthand extend its strike along the trend where numerous surface samplesassayed multi-gram gold. Additional drill locations on trend with themineralized vein both to the north and to the south will helpdetermine the extent of the mineralization along strike.
A secondary vein was discovered in outcrop 400 m to thenortheast of Pad 1, where two grab samples assayed 7.39 gpt Au and5.93 gpt Au, respectively. The outcrop is partially covered byoverburden, but structural investigations indicate a similarorientation to the main mineralized vein. Both samples collected fromthis outcrop consist of strongly altered, crackled intrusive with upto 5 % chalcopyrite and 10 % pyrite. This showing will be drill testedwith multiple drill holes during the 2024 drill season. A third veinis outcropping 250 m southeast of Pad 1. A grab sample that assayed1.11 gpt Au collected from this vein consists of a metamorphosed,strongly altered intrusive rock with 5 % pyrite and 1 % chalcopyrite.A number of drill holes have been designed to test this showing in2024. Deeper drill holes designed to test the contact between aclose-by intrusion and the surrounding rocks are also planned for the2024 drill season.
Recently, a new fold located 1 kilometer to the northof the Bingo Main Zone named the Double Down Hinge Zone has beenidentified in an airborne magnetic survey. This fold shows the sameorientation and characteristics as the fold observed at the Bingo MainZone. A fault separates the two folds potentially indicating that thetwo structures are in fact the same fold that has been displaced, inwhich case gold-silver-copper mineralization is projected to be foundin the Double Down Hinge Zone as well. Detailed mapping andprospecting on the property will focus on identifying the relationshipbetween the Double Down Hinge Zone and the Bingo Main Zone, as well asunderstanding the controls on mineralization at the contact betweenmetamorphosed sediments and the intrusion to the West, and thevolcanic units to the East. 2023 BingoDoubledown
Highlights from the high-grade goldBingo property:
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The Bingo Main zone is part of a 600 meters by 350meters mineralized corridor that remains open with high-grade golddrill samples (12.09 gpt AuEq over 5.11 meters) and surface samples(up to 13.4 gpt Au) located along the axial planeof a fold hinge.
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Bingo is located in the Eskay Rift in an evolving golddistrict in a world-class geologic setting within the Golden Triangleof British Columbia, host to several multi-million ounce gold depositsconfirming the untapped discovery potential that remains while vastareas of newly exposed bedrock are exposed due to recent snowpack andglacial abatement.
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Bingo comprises the same world-class geological unitsas Goliath Resource's Surebet discovery located 15 km to the West,including Hazelton Volcanics and related sediments and intrusive rocksas well as the same style of mineralization of pyrrhotite,chalcopyrite and galena, hosted in a similarly oriented west dippingshear zone.
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Gold mineralization in drill samples (4 out of 7 holesintersected significant high-grade gold mineralization) and surfaceoutcrops (83 % of surface samples collected contained goldmineralization), stream sediment geochemistry, ground magnetic survey,soil sampling and other lines of evidence confirm stronggold-mineralization potential on the property.
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Mineralization is characterized by aggregates andstockwork of chalcopyrite, pyrrhotite, galena and pyrite from a shearhosted vein along which gold-silver-copper rich fluids intruded andaltered the host rock.
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Recently, a new fold located 1 kilometer to the northof the Bingo Main Zone named the Double Down Hinge Zone has beenmapped. This fold shows the same orientation and characteristics tothe fold observed at the Bingo Main Zone. A fault separates the twofolds potentially indicating that the two structures are in fact thesame fold that has been displaced, in which case gold-silver-coppermineralization is projected to be found in the Double Down Hinge Zoneas well.
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The Bingo property is located in a fertile area in thesouthern part of the Golden Triangle surrounded by a number of knowndeposits, including Anyox, Surebet, Dolly Varden, Porter Idaho,Premier, and more.
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Infrastructure includes direct access to tide water inclose proximity to roads and high-tension power.
The Bingo property has an area of 989 hectares and islocated 45 km SSW of Stewart, BC and 28 km W of Kitsault, and only 12km to tidewater landing and roads in the historic mining town of Anyoxproviding for cost effective exploration. The Bingo Main Zone containsgold mineralized grab, chip and channel samples along the axial plane of a fold hinge over an area of 600meters x 350 meters in a region of recent glacial retreat andpermanent snowpack abatement located within the Eskay Rift region ofthe Golden Triangle, British Columbia. High-grade gold from surface grab samples assayed up to 9.79 gpt Au. Channelsamples assayed up to 1.77 gpt Au and 0.20 % Cu over 4.85 meters and1.48 gpt Au and 0.37 % Cu over 3.2 meters, respectively. The Bingoproperty has strong similarities to Goliath Resources’ SurebetProject located further to the east, including same mineralogy,textures and structures.
Qualified Person
Rein Turna P. Geo is the qualified person as defined byNational Instrument 43-101, for Juggernaut Exploration projects, andsupervised the preparation of, and has reviewed and approved, thetechnical information in this release.
Other
Oriented NQ-diameter diamond drill core from the drillcampaign is placed in core boxes by the drill crew contracted by theCompany. Core boxes are transported by helicopter to the staging area,and then transported by truck to the core shack. The core is thenre-orientated, meterage blocks are checked, meter marks are labelled,Recovery and RQD measurements taken, and primary bedding and secondarystructural features including veins, dykes, cleavage, and shears arenoted and measured. The core is then described and transcribed in MXDeposit. Drill holes were planned using Leapfrog Geo and QGIS softwareand data from the 2017-2022 exploration campaigns. Drill corecontaining quartz breccia, stockwork, veining and/or sulphide(s), ornotable alteration are sampled in lengths of 0.5 to 1.5 meters. Coresamples are cut lengthwise in half, one-half remains in the box andthe other half is inserted in a clean plastic bag with a sample tag.Standards, blanks and duplicates were added in the sample stream at arate of 10%
Grab, channels, chip and talus samples were collectedby foot with helicopter assistance. Prospective areas included, butwere not limited to, proximity to MINFile locations, placer creekoccurrences, regional soil anomalies, and potential gossans based onhigh-resolution satellite imagery. The rock grab and chip samples wereextracted using a rock hammer, or hammer and chisel to expose freshsurfaces and to liberate a sample of anywhere between 0.5 to 5.0kilograms. All sample sites were flagged with biodegradable flaggingtape and marked with the sample number. All sample sites were recordedusing hand-held GPS units (accuracy 3-10 meters) and sample ID,easting, northing, elevation, type of sample (outcrop, subcrop, float,talus, chip, grab, etc.) and a description of the rock were recordedon all-weather paper. Samples were then inserted in a clean plasticbag with a sample tag for transport and shipping to the geochemistrylab. QA/QC samples including blanks, standards, and duplicate sampleswere inserted regularly into the sample sequence at a rate of10%.
All samples, including core, rock grabs, channels, andtalus samples, are transported in rice bags sealed with numberedsecurity tags. A transport company takes them from the core shack tothe ALS labs facilities in North Vancouver. ALS is either certified toISO 9001:2008 or accredited to ISO 17025:2005 in all of its locations.At ALS samples were processed, dried, crushed, and pulverized beforeanalysis using the ME-MS61 and Au-SCR21 methods. For the ME-MS61method, a prepared sample is digested with perchloric, nitric,hydrofluoric and hydrochloric acids. The residue is topped up withdilute hydrochloric acid and analyzed by inductively coupled plasmaatomic emission spectrometry. Overlimits were re-analyzed using theME-OG62 and Ag-GRA21 methods (gravimetricfinish). For Au-SCR21 a large volume of sample is needed (typically1-3kg). The sample is crushed and screened (usually to -106 micron) toseparate coarse gold particles from fine material. After screening,two aliquots of the fine fraction are analysed using the traditionalfire assay method. The fine fraction is expected to be reasonablyhomogenous and well represented by the duplicate analyses. The entirecoarse fraction is assayed to determine the contribution of the coarsegold.
Some of the reported data is historical in nature andis a compilation of third-party data from previous operators. Thereader is cautioned that grab samples are spot samples which aretypically, but not exclusively, constrained to mineralization. Grabsamples are selective in nature and collected to determine thepresence or absence of mineralization and are not intended to berepresentative of the material sampled. In addition, the reader iscautioned that proximity to known mineralization does not guaranteesimilar mineralization will exist on the properties.
For more information, please contact:
Juggernaut Exploration Ltd.
Dan Stuart
President and Chief Executive Officer
Tel: (604)-559-8028
www.juggernautexploration.com
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FORWARD LOOKING STATEMENT
Certain disclosure in this release may constituteforward-looking statements that are subject to numerous risks anduncertainties relating to Juggernaut’s operations that may causefuture results to differ materially from those expressed or implied bythose forward-looking statements, including its ability to completethe contemplated private placement. Readers are cautioned not to placeundue reliance on these statements.
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