(TheNewswire)
2023 DRILLING HIGHLIGHTS:
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High-grade gold-silver-coppermineralization has been intersected in multiple inaugural test drillholes collared from within the Bingo Main Zone along a north trending,west-dipping, shear hosted vein within a 550 meters by 350 metersprecious metal rich mineralized corridor that remains open. BingoMaps Compilation
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Drill hole BI-23-01 intersected 11.42gpt AuEq (7.57 gpt Au, 20.23 gpt Ag and 2.72 % Cu) over 5.11 meters,including 19.69 gpt AuEq (13.05 gpt Au, 24.93 gpt Ag and 4.70 % Cu)over 2.90 meters. BI-23-01
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Drill hole BI-23-04 intersected 4.23gpt AuEq (2.52 gpt Au, 11.05 gpt Ag and 1.16 % Cu) over 10.12 meters,including 6.74 gpt AuEq (4.01 gpt Au, 17.37 gpt Ag and 1.85 % Cu) over5.89 meters. BI-23-04_v2
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Drill hole BI-23-02 intersected 4.81gpt AuEq (2.86 gpt Au, 8.72 gpt Ag and 1.39 % Cu) over 7.05 meters,including 9.49 gpt AuEq (5.69 gpt Au, 17.36 gpt Ag and 2.70 % Cu) over5.89 meters and 12.35 gpt AuEq (7.31 gpt Au, 23.11 gpt Ag and 3.58 %Cu) over 2.45 meters. BI-23-02_v3
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Drill hole BI-23-03 intersected 2.22gpt AuEq (1.39 gpt Au, 4.06 gpt Ag and 0.58 % Cu) over 5.78 meters,including 2.56 gpt AuEq (1.66 gpt Au, 4.58 gpt Ag and 0.62 % Cu) over4.73 meters and 10.67 gpt AuEq (6.77 gpt Au, 21.30 gpt Ag and 2.69 %Cu) over 0.92 meters. BI-23-03
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The broad sulphide-rich mineralizedvein consists of semi-massive aggregates and stockwork of chalcopyrite(up to 10 %) and pyrrhotite (up to 10 %), with minor pyrite andgalena, part of a shear hosted vein within a strongly altered dioriteunit that remains open to the north, south and to depth.
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The maiden drill program on thisdiscovery confirmed strong gold-silver-copper mineralization on theBingo Main outcrop to a depth of 40 meters that remains open, leavingover 90% of the known mineralized corridor untested.
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The inaugural drill program hashelped to test and better understand the geometry of the mineralizedvein which is steeply dipping on surface and rotates to 45 degrees tothe west at deeper levels. Future drill programs will use this data todefine drilling and specifically target and intersect the projectedextension of the mineralized shear hosted vein at both depth and alongstrike. 3DSchematic Model/Cross Section
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The mineralized shear hosted vein isparallel to the axial plane of a fold identified in the magneticsignature of the Bingo Main Zone. Recently, a new fold located 1kilometer to the north of the Bingo Main Zone named the Double DownHinge Zone has been mapped and is being prepared for future drilling withexcellent additional discovery potential. 2023Bingo Doubledown
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Bingo was discovered due to recentsnowpack and glacial abatement in an area where the majority of outcrops contain high grade gold-silver-copper mineralization atsurface and remain to be drill tested within a 550 meters by 350meters gold rich mineralized corridor, indicating a large mineralizingsystem at work on the Bingo property providing for excellentadditional discovery potential both to depth and along trend foradditional precious metals-rich veins and shear zones. BingoOutcrops
Highlights from the high-grade goldBingo property:
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The Bingo Main zone is part of a 550 meters by 350meters mineralized corridor that remains open with high-grade golddrill samples (11.42 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. Bingo EskayRift
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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. Bingo SurebetGeo Bingo SurebetRocks Bingo SurebetSimilarities
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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. Therefore, this area is also being prepared for drilling. 2023 BingoDoubledown
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A number of gold-silver-copper rich angular floatsamples have been collected on the property indicating widespreadmineralization on Bingo. Of note is a float sample collected just westof the main outcrop assayed 13.4 gpt Au and consists of stronglyaltered and vuggy intrusive rock with 15 % galena and 1 % chalcopyriteand considerable amounts of jarosite.
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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. Bingo EskayRift
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Infrastructure includes direct access to tide water inclose proximity to roads and high-tension power.
Vancouver, British Columbia – TheNewswire - December 12, 2023 – Juggernaut Exploration Ltd ( TSXV: JUGR.V) (OTC:JUGRF) (FSE:4JE) (the “Company” or“Juggernaut”) is excitedto report results for its inaugural drill program from its 100 %controlled Bingo property (the “Property”), Golden Triangle,British Columbia. Multiple drill holes have intersected high-gradegold-silver-copper mineralization along a north trending,west-dipping, shear hosted vein with grades up to 11.42 gpt AuEq (7.57gpt Au, 20.23 gpt Ag and 2.72 % Cu) over 5.11 meters, including 19.69gpt AuEq (13.05 gpt Au, 24.93 gpt Ag and 4.70 % Cu) over 2.90 meters. The shear hosted vein at the Bingo Main Zone ispartially exposed at surfaces for 360 meters and only the main outcrophas been drill tested to date leaving the system open in alldirections. The mineralized vein is part of a 550 meters by 350 metersmineralized corridor where multiple additional gold-silver-copper richoutcrops assayed up to 7.39 gpt Au and remain to be drilltested.
BingoMaps Compilation , BingoDrilling Maps
Four holes collared from Pad 1located in the northern part of the Bingo Main Zone intersected broadsulphide-rich mineralized horizon consisting of semi-massiveaggregates and stockwork of chalcopyrite (up to 10 %) and pyrrhotite(up to 10 %), with minor pyrite and galena, that are part of a shearhosted vein within a strongly altered diorite unit that remains opento the north, south and to depth. Drill hole BI-23-01 intersected11.42 gpt AuEq (7.57 gpt Au, 20.23 gpt Ag and 2.72 % Cu) over 5.11meters, including 19.69 gpt AuEq (13.05 gpt Au, 24.93 gpt Ag and 4.70% Cu) over 2.90 meters BI-23-01 . Drillhole BI-23-04 intersected 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 BI-23-04_v2 .Drill hole BI-23-02 intersected 4.81 gpt AuEq (2.86 gpt Au, 8.72 gptAg and 1.39 % Cu) over 7.05 meters, including 9.49 gpt AuEq (5.69 gptAu, 17.36 gpt Ag and 2.70 % Cu) over 5.89 meters and 12.35 gpt AuEq(7.31 gpt Au, 23.11 gpt Ag and 3.58 % Cu) over 2.45 meters BI-23-02_v3 .Drill hole BI-23-03 intersected 2.22 gpt AuEq (1.39 gpt Au, 4.06 gptAg and 0.58 % Cu) over 5.78 meters, including 2.56 gpt AuEq (1.66 gptAu, 4.58 gpt Ag and 0.62 % Cu) over 4.73 meters and 10.67 gpt AuEq(6.77 gpt Au, 21.30 gpt Ag and 2.69 % Cu) over 0.92 meters BI-23-03 .
Table 1: Selected 2023 Bingo drillhole assay results reported in this news release.
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.
2024 Drill PlanS
The mineralized shear hosted vein was also intersectedin a narrow copper-rich interval from a drill hole in the southernpart of the Bingo Main Zone 200 m south of Pad 1, where it is thinner,and a surface grab sample assayed 9.S79 gpt Au. Additional drilling inthis area in 2024 is required to fully test the southern extent of themineralized corridor. Mapping and drilling have shown that themineralized vein pinches and swells and is parallel to the axial planeof a moderate size fold identified in the magnetic signature of theBingo Main Zone. The inaugural drill program has helped betterunderstand the geometry of the mineralized vein which is steeplydipping on surface and rotates to 45 degrees to the west at deeperlevels. Future drill programs will take this information intoconsideration and drill holes will be designed to target and intersectthe projected extension of the mineralized shear hosted vein at depthin the southern part of the Bingo Main Zone 3D Schematic Model/CrossSection . The 2024 drill program willbe designed 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. Bingo DrillingMaps
A secondary vein was discovered in outcrop 400 m to thenortheast of Pad 1 where two grab samples assayed 7.39 gpt Au and 5.93gpt Au, respectively. The outcrop is partially covered by overburden,but structural measurements indicate a similar orientation to the mainmineralized vein. Both samples collected from this outcrop consist ofstrongly altered, crackled intrusive with up to 5 % chalcopyrite and10 % pyrite. This showing will be drill tested with multiple drillholes in 2024. A third vein is outcropping 250 m southeast of Pad 1. Agrab sample that assayed 1.11 gpt Au collected from this vein consistsof a metamorphosed, strongly altered rock with 5 % pyrite and 1 %chalcopyrite. A number of drill holes will be designed to test thisshowing in 2024. Deeper drill holes designed to test the contactbetween a close-by intrusion and the surrounding rocks are alsoplanned for the 2024 drill season.
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 asthe 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. Therefore, this area is also being prepared for drilling in2024. 2023 BingoDoubledown
A number of gold-silver-copper rich angular floatsamples have been collected on the property indicating widespreadmineralization on Bingo. Of note is a float sample collected just westof the main outcrop which assayed 13.4 gpt Au and consists of stronglyaltered and vuggy intrusive rock with 15 % galena and 1 % chalcopyriteand considerable amounts of jarosite.
Table 2: Collar information for thedrill holes reported in this news release.
Pad ID | Hole ID | Easting | Northing | Elevation | Grid | Azimuth | Dip | Length (m) |
Pad 1 | BI-23-01 | 442285.8 | 6152876.2 | 1341.1 | NAD83 / UTM zone 9N | 70 | 50 | 150 |
BI-23-02 | 442285.8 | 6152875.9 | 1341.3 | NAD83 / UTM zone 9N | 90 | 48 | 120 | |
BI-23-03 | 442285.5 | 6152875.9 | 1341.1 | NAD83 / UTM zone 9N | 90 | 60 | 111 | |
BI-23-04 | 442285.0 | 6152873.9 | 1341.0 | NAD83 / UTM zone 9N | 170 | 50 | 213 |
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 ofAnyox, providing for cost effective exploration. The Bingo Main Zonecontains 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. TheBingo property has strong similarities to Goliath Resources’ SurebetProject located further to the east, including same mineralogy,textures and structures.
Dan Stuart, President and CEO ofJuggernaut Exploration, states: “The drill results far exceeded our expectations for this smallexploratory maiden drill program with four out of seven holesintersecting broad intervals of high-grade gold, silver, and coppermineralization on the 100% controlled Bingo property. We now know fromsurface sampling and mapping and the maiden drilling that the systemis extensive and remains open to the north, south, and now to depth,providing for excellent additional discovery potential. Bingo comprises the same world-class geological units as oursister company Goliath Resource's Surebet discovery nextdoor. The team believes thiscould very quickly develop into a new world-class discovery in theprolific Golden Triangle of British Columbia. We look forward todefining the full extent of this new gold-silver-copper rich discoverywith additional drilling in 2024 and beyond. The company looks forwardto releasing drill results from its 100 % controlled Midas and Empireproperties in the near future.”
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 recorded on all-weather paper. Samples were theninserted in a clean plastic bag with a sample tag for transport andshipping to the geochemistry lab. QA/QC samples including blanks,standards, and duplicate samples were inserted regularly into thesample sequence at a rate of 10%.
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 (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 and Chief Executive Officer
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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