(TheNewswire)
Vancouver, British Columbia – TheNewswire - Aug 8th, 2023 – Juggernaut Exploration Ltd ( TSXV: JUGR.V) (OTC:JUGRF) (FSE:4JE) (the “Company” or“Juggernaut”) is pleased to report themaiden drill program has commenced early on its 100% controlled Bingoproperty located within the Eskay Rift. The Bingo property issurrounded by a number of known and rapidly evolving deposits hostedwithin the same world class geologic units, including Surebet, Anyox,Dolly Varden, Porter Idaho, and Premier to name but just a few.
The Bingo Main Zone is a drill ready zone containingextensive gold mineralized grab, chip and channel samples along the axial plane of a fold hinge over an area of 550meters x 175 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 surfacegrab samples assayed up to 9.79 gpt Au. Channel samples assayed up to1.77 gpt Au and 0.20 % Cu over 4.85 meters and 1.48 gpt Au and 0.37 %Cu over 3.2 meters, respectively. A second sister hinge zone has beenidentified approximately 1 km to the north (named the “DoubleDown” hinge zone) as strongly indicated by both lidar and geophysicsthat will be tested in 2023. The Bingo property has strongsimilarities to Goliath Resources’ Surebet Project located furtherto the east, including same mineralogy, lithology, textures andstructures.
The 2023 field program on the 100% controlled Bingoproperty consists of up to ~2000 m of drilling from 4 drill padswithin the Bingo Main zone. Additional surface exploration work willalso be undertaken to better understand the folded system at play onBingo by mapping and prospecting of the “Double Down” hinge zonelocated 1 km to the north of the Bingo Main Zone and believed to bepart of the same mineralizing system. Providing excellent additionalexploration upside for further drilling.
Bingo Property Main Gold Hinge andDouble Down Hinge Drill Targets.
Highlights from the high-grade goldBingo property:
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The Bingo Main zone has been expanded from 320 metersby 175 meters to 550 meters by 175 m and remains open with high-gradegold samples located along the axial plane of afold hinge that assayed up to 9.79 gpt Au.
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An additional hinge zone named the “Double Down”hinge zone with similar characteristics is located 1 km to thenorth.
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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 golddeposits.
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Bingo contains the same world-class geological units asGoliath Resource's Surebet discovery next door, including HazeltonVolcanics and related sediments and intrusives.
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Gold mineralization in outcrop, stream sedimentgeochemistry, ground magnetic survey, soil sampling and other lines ofevidence confirm strong gold-mineralization on the property.
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Mineralization is characterized by pyrite,chalcopyrite, galena and pyrrhotite.
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Gold-rich fluids intruded and altered the host rockindicating a shear zone.
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The Bingo property is 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.
Dan Stuart, President and CEO ofJuggernaut Exploration states “ We are excited to have drills turning onBingo, Midas and Empire simultaneously all with world class expressionof high-grade mineralization in bedrock that was previously undetecteduntil only now due to glacial recession and the abatement of permanentsnow pack. The drill programs currently underway consists of ~6,500meters commenced early this year due to exceptionally good weatheracross Northwestern B.C. With much anticipation, we look forward toexecuting the inaugural drill and exploration programs and reportingresults. ”
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
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 shippingto the geochemistry lab. QA/QC samples including blanks, standards,and duplicate samples were inserted regularly into the sample sequenceat a rate of 10%.
All samples, including rock grabs, channels, and talussamples, are transported in rice bags sealed with numbered securitytags. A transport company takes them from the core shack to the ALSlabs facilities in North Vancouver. ALS is either certified to ISO9001:2008 or accredited to ISO 17025:2005 in all of its locations. AtALS 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 (gravimetric finish). For Au-SCR21 alarge volume of sample is needed (typically 1-3kg). The sample iscrushed and screened (usually to -106 micron) to separate coarse goldparticles from fine material. After screening, two aliquots of thefine fraction are analysed using the traditional fire assay method.The fine fraction is expected to be reasonably homogenous and wellrepresented by the duplicate analyses. The entire coarse fraction isassayed to determine the contribution of the coarse gold.
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, Chief Executive Officer and Director
Tel: (604)-559-8028
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATIONSERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXVENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACYOF THIS RELEASE.
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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