(TheNewswire)
2023 DRILLING HIGHLIGHTS:
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Extensive broad sulphide-richintervals consisting of considerable chalcopyrite and pyrite inaggregates, stringers and veinlets have been intersected in multipledrill holes collared from theVG Zone and Kokomo Zone. MAP WITH HIGHLIGHTEDDRILL HOLES
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Drill hole MD-23-34 intersected 71.93meters of chalcopyrite-pyrite mineralization from 3.00 meters (top ofthe hole) to 74.93 meters. MD-23-34PHOTO
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Drill hole MD-23-35 intersected 55.60meters of chalcopyrite-pyrite mineralization from 0.30 meters (top ofthe hole) to 55.90 meters. MD-23-35PHOTO
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Drill hole MD-23-36 intersected 59.93meters of chalcopyrite-pyrite mineralization from 0.26 meters (top ofthe hole) to 60.19 meters. MD-23-36PHOTO
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The mineralized horizon consists ofaggregates, stringers and veinlets of chalcopyrite (up to 10 %) andpyrite (up to 15 %) in a strongly quartz-sericite altered volcanichost rock consistent with being in close proximity to an Eskay-styleVolcanogenic Hosted Massive Sulphide (VHMS) deposit.
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The Company has completed 15 out of21 drill holes planned for the 2023 season with a total 3273 metersdrilled to date. The maiden drilling on the gold-rich Kokomo discoveryoutcrop that assayed 9.343 gpt Au, 117 gpt Ag, 1.58 % Cu and 1.77 % Znhas recently commenced. KOKOMO SAMPLEPHOTO
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Assay results for the initial drillholes of the season will be released once received compiled andinterpreted.
Vancouver, British Columbia – TheNewswire - September 12 th , 2023 – Juggernaut Exploration Ltd( TSXV: JUGR.V) (OTC:JUGRF) (FSE:4JE) (the“Company” or “Juggernaut”) is pleased to report the discovery ofmultiple extensive sulphide-rich intervals up to 71.93 meters long inthree drill holes from its 100 % controlled Midas property (the“Property”), Golden Triangle, British Columbia. All three holes collared from Eskay 1 Pad located at thetransition from the VG Zone to the Kokomo Zone have intersected considerablechalcopyrite and pyrite in aggregates, stringers andveinlets within a strongly altered volcanic hostrock consistent with being in close proximity to an Eskay-styleVolcanogenic Hosted Massive Sulphide (VHMS) deposit.
MAPWITH HIGHLIGHTED DRILL HOLES
Drill hole MD-23-34 intersected 71.93meters of chalcopyrite-pyrite mineralization from 3.00 meters (top ofthe hole) to 74.93 meters MD-23-34PHOTO . The samemineralized horizon was intersected in a 55.60-meter interval in drillhole MD-23-35 from 0.30 meters to 55.90 meters MD-23-35PHOTO , and in a59.93-meter interval in drill hole MD-23-36 from 0.26 meters to 60.19meters MD-23-36PHOTO . In all three holes,the mineralization is cut off by a north-northeast trending, steeplydipping fault. The mineralized horizon consists of aggregates, stringers and veinlets ofchalcopyrite (up to 10 %) and pyrite (up to 15 %) in a stronglyquartz-sericite altered volcanic host rock with occasional foliatedportions that align with the north-northeast direction of major faultsin the area. A series of meter-size mafic dykes intrude themineralized rock.
The Company has completed 15 out of 21 drill holesplanned for the 2023 season with a total 3273 meters drilled so far.Drilling is ongoing on a number of targets identified in associationwith the surface mineralization and the subsurface geophysical IP dataalong the 850-meter south trending anomaly connecting the Kokomotarget with the VG Zone. Assay results for the initial drill holes ofthe season are anticipated to be received in the immediate future andwill be released once compiled and interpreted.
The Midas property is 100% controlled and covers 20,803hectares and is located 24 km southeast of Terrace, British Columbiain close proximity to logging access roads, power, railway and majorinfrastructure. The property is located in an area of recent glacialabatement and permanent snowpack recession at the southern end of theGolden Triangle, British Columbia. Multiple high-grade gold grab,chips and channel samples were collected from the Kokomo VHMS targetwhere a 1.00 m chip sample assayed 9.343 gpt Au, 117 gpt Ag, 1.58 % Cuand 1.77 % Zn and is drill ready. Relatively shallow InducedPolarization (IP) chargeability and resistivity anomalies extend underthe Kokomo showing on trend to the south for at least 850 meterstowards the VG Zone, conducive for a buried VHMS containingsemi-massive to massive sulphides at depth. Channel samples highlightsfrom the VG Zone include 10.28 gpt Au over 4.34 meters; 15.37 gpt Auover 2 meters; and 5.43 gpt Au over 3.11 meters. Historic drillresults from the Midas property include hole MD-18-16 whichintersected the peripheral zone of the IP anomaly core and returned0.56 g/t AuEq over 35.35 meters; hole MD-18-08, which assayed 6.85 gptAu over 9 meters and narrowly missed a strong IP chargeabilityanomaly; and hole MD-18-01 which intersected 3.27 gpt AuEq over 4.80meters and ended before it reached the core of a strong IPchargeability anomaly.
Highlights from the Midasproperty:
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Historic drill results from the Midas property includehole MD-18-16 which intersected the peripheral zone of the IP anomalyand returned 0.56 g/t AuEq over 35.35 meters; hole MD-18-08, whichassayed 6.85 gpt Au over 9 meters and narrowly missed an strong IPchargeability anomaly core; and hole MD-18-01 which intersected 3.27gpt AuEq over 4.80 meters and ended before it reached the core of astrong IP chargeability anomaly.
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Channel samples highlights from the VG Zone include10.28 gpt Au over 4.34 meters; 15.37 gpt Au over 2 meters; and 5.43gpt Au over 3.11 meters.
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Multiple high-grade gold grab, chips and channelsamples including Kokomo showing where a 1 m chip sample assayed 9.343 gpt Au, 117gpt Ag, 1.58 % Cu and 1.77 % Zn.
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Relatively shallow Induced Polarization (IP)chargeability and resistivity anomaly extends under the Kokomo showingfor at least 850 meters on trend to the south conducive forsemi-massive to massive sulphides.
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Alteration zones extracted from Worldview 3 satellitespectral data show a strong silica, iron and phyllic alteration(quartz-sericite-pyrite) signature overlapping the Kokomo showing andthe 850 meter trend immediately to the south and east coinciding withthe IP anomaly in the subsurface, further indicating the presence of amineralized VHMS system at depth.
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Regional and local geology is highly prospective forVHMS deposits including the presence of a rhyolitic tuff with strongphyllic alteration (quartz-sericite-pyrite) from the Mt Attreevolcanics which are Mississippian in age. Mississippian age rocks areknown to host the majority of significant VHMS deposits.
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Widespread Zn signature with secondary Au, Ag, Pb, Cuand trace element signature (elevated Au, Te, As, Sb, Bi, Cd, Hg,Ba).
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Midas is within a world class geologic setting withstrong potential for Eskay-style VHMS mineralization.
Dan Stuart, President and CEO ofJuggernaut Exploration states “ It is exciting to see the right type ofmineralization and alteration in drill core from not just one, but twoof our projects, namely Midas and Empire. We designed what we believedwere strong drill plans for all of the targets with world classdiscovery potential in areas that have not been drill tested beforeand the initial results from Midas and Empire have definitely exceededour expectations. Drilling on Midas is still ongoing but we arelooking forward to receiving and reporting assay results with muchanticipation.”
EMPIRE PROPERTY DRILLINGUPDATE
Drill hole EM-23-24 collared from thelower pad on Empire’s Metallica Zone intersected 18.17 meters ofsulphide mineralized breccia from 204.96 meters to 223.13 meterswithin an envelope of quartz-calcite breccia with disseminatedsulphides extending for 88.48 meters from 169.41 meters to 257.89meters MD-23-34PHOTO . The mineralization consists of interstitial sphalerite (upto 5 %), galena (up to 2 %) and pyrite (up to 2 %) within a stronglybrecciated and chloritized volcanic host rock. The presence of thisextensive breccia zone with considerable sulphide mineralization andstrong alteration indicates the presence of a deep-rooted mineralizingsystem at play on the Empire property. Drilling on the Empire propertyhas been completed for the 2023 season with a total of 4 holes and1116 meters drilled. Assay results for these drill holes areanticipated to be received in the immediate future and will bereleased once compiled and interpreted.
The 100% controlled Empire Property covers 12,480hectares approximately 70 kilometers northeast of Terrace, BC. It isroad-accessible and approximately 15 kilometers from the nearesthighway and power line. The Metallica zone is anew discovery in a region of recent glacial retreat exposingmineralized outcrop that has never been seen before located at thesouthern end of the Golden Triangle, British Columbia. Limitedprospecting identified mineralization over an area measuringapproximately 250 by 225 meters that remains open. Grab samples froman outcropping massive sulphide vein up to 30 cm wide assayed up to36,875 gpt Ag (1180 ounces per ton silver), 4.68 gpt Au, 27.6% Cu and3.27% Zn (This is one of the highest silver samples collected fromoutcrop in Canadian history). Channel samples from the massivesulphide vein assayed 22,694 gpt Ag (729.6 ozper ton), 26.4 % Cu, 2.8 % Zn. The vein extends for 40 meters in aneast-west direction indicating a large porphyry feeder system at depththat remains open. A series of gently dipping veins assayed between1.00 and 16.4 gpt Au, and up to 2470 gpt Ag, 15.45% Cu and 1.58% Zn.These veins are up to 30 cm wide, contain quartz + Fe-carbonate ±covellite ± sphalerite and are arranged in a traceable set for over50 meters across strike. In close proximity potassic alteration andporphyry textures seen on surface are believed to be related to asubtle magnetic high, indicating a porphyry core feeder atdepth.
Highlights from the high-gradeMetallica Zone porphyry target on the Empire property:
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Grab samples from a massive sulphide vein up to 30 cmwide assayed up to 36,875 gpt Ag (1180 ounces per ton), 4.68 gpt Au,27.6% Cu and 3.27% Zn. Channel samples from the massive sulphide veinassayed 22,694 gpt Ag (729.6 oz per ton), 26.4 % Cu, 2.8 % Zn. Thevein extends for 40 meters in an east-west direction and remainsopen.
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Five separate gently dipping veins assayed between 1and 16.4 gpt Au, and up to 2470 gpt Ag, 15.45% Cu and 1.58% Zn. Theseveins are up to 30 cm wide, contain quartz + Fe-carbonate ± covellite± sphalerite and are arranged in a traceable set for over 50 metersacross strike and remains open.
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Mineralization is hosted within a propyliticallyaltered feldspar porphyry unit.
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The Metallica zone is part of the Inca Trend, ahigh-grade polymetallic mineralized trend that extends for 1.6 by 1.2kilometer in an area where recent glacial abatement has exposedseveral extensive new zones of mineralized outcrop which werepreviously unknown.
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Excellent proximity to infrastructure, includinghighway, railway, high-tension power and the town of Terrace,BC.
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 HQ-diameter or NQ-diameter diamond drill corefrom the drill campaign is placed in core boxes by the drill crewcontracted by the Company. Core boxes are transported by helicopter tothe staging area, and then transported by truck to the core shack. Thecore is then re-orientated, meterage blocks are checked, meter marksare labelled, Recovery and RQD measurements taken, and primary beddingand secondary structural features including veins, dykes, cleavage,and shears are noted and measured. The core is then described andtranscribed in MX Deposit. Drill holes were planned using Leapfrog Geoand QGIS software and data from the 2017-2022 exploration campaigns.Drill core containing quartz breccia, stockwork, veining and/orsulphide(s), or notable alteration are sampled in lengths of 0.5 to1.5 meters. Core samples are cut lengthwise in half, one-half remainsin the box and the other half is inserted in a clean plastic bag witha sample tag. Standards, blanks and duplicates were added in thesample stream at a rate 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 (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
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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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