(TheNewswire)
2023 DRILLING HIGHLIGHTS:
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Broad sulphide-rich intervalsconsisting of considerable chalcopyrite and pyrrhotite in stockworkand semi-massive aggregates have been intersected in multiple drillholes collared from the BingoMain Zone. MAPWITH HIGHLIGHTED DRILL HOLES
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Drill hole BI-23-04 intersected an8.19 meter interval of strong sulphide mineralization between 42.18meters and 50.37 meters. BI-23-04 PHOTO
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Drill hole BI-23-01 intersected a6.89 meter interval of strong sulphide mineralization between 24.39meters and 31.28 meters. BI-23-01 PHOTO
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Drill hole BI-23-02 intersected a6.78 meter interval of strong sulphide mineralization between 25.95meters and 32.73 meters. BI-23-02 PHOTO
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The mineralized horizon consists ofsemi-massive to stockwork chalcopyrite (up to 10 %) and pyrrhotite (upto 10 %) part of a shear hosted vein within a strongly altered dioriteunit that remains open to the north.
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The mineralized shear zone 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 drilling in 2024. DOUBLEDOWN MAP
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The Company has completed 7 drillholes for the 2023 season totaling 1017 meters.
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Assay results for the drill holeswill be released once received compiled and interpreted.
Vancouver, British Columbia - TheNewswire - September 14, 2023 - Juggernaut Exploration Ltd (JUGR.V) (OTC:JUGRF) (FSE:4JE) (the“Company” or “Juggernaut”) is pleased to report the discovery ofmultiple sulphide-rich intervals up to 8.19 meters long in all drillholes from its 100 % controlled Bingo property (the “Property”),Golden Triangle, British Columbia. All holescollared from the Bingo Main Zone have intersected considerable chalcopyrite andpyrrhotite in stockwork and semi-massiveaggregates within a north trending shear hosted vein.
MAPWITH HIGHLIGHTED DRILL HOLES
Three holes collared from thenorthern part of the Bingo Main Zone intersected broad intervals ofchalcopyrite and pyrrhotite mineralization. Drill hole BI-23-04intersected an 8.19 meter interval of semi-massive to stockworkchalcopyrite (up to 10 %) and pyrrhotite (up to 10 %) between 42.18meters and 50.37 meters part of a shear hosted vein within a stronglyaltered diorite unit BI-23-04 PHOTO .The same sulphide mineralized shear-hosted vein was intercepted inhole BI-23-01 from 24.39 meters to 31.28 meters (6.89 meterinterval) BI-23-01 PHOTO ,and in drill hole BI-23-02 from 25.95 meters to 32.73 meters (6.78meter interval) BI-23-02 PHOTO . The mineralized shear hosted vein was alsointersected in the southern part of the Bingo Main Zone, where it isthinner and less mineralized, suggesting that the thickness of themineralized horizon increases to the north where it remains open anduntested. Mapping has shown that the mineralized shear zone isparallel to the axial plane of a moderate size fold identified in themagnetic signature of the Bingo Main Zone. Recently, a new foldlocated 1 kilometer to the north of the BingoMain Zone named the Double Down Hinge Zone has been mapped and isbeing prepared for drilling in 2024 DOUBLEDOWN MAP .
Drilling on the Bingo Main Zone for the 2023 season hasbeen completed with 7 drill holes totaling 1017 meters. Assay resultsfor these drill holes are anticipated to be received in the immediatefuture and will be reported once received, compiled, andinterpreted.
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 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. The Bingo property has strongsimilarities to Goliath Resources’ Surebet Project located next doorto the east, including same mineralogy, textures andstructures.
Highlights from the high-grade goldBingo property:
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The Bingo Main zone is 550 meters by 175 meters in sizeand remains open with high-grade gold samples located along the axial plane of a fold hinge that assayed up to 9.79gpt Au.
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An additional hinge zone named the Double Down HingeZone 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.
Dan Stuart, President and CEO ofJuggernaut Exploration states: “All the balls have fallen into place with the 2023 Bingo drillprogram. The visual results of the core that has been drilled thisseason have by far exceeded our expectations with broad intervals ofchalcopyrite and pyrrhotite mineralization indicating a strong mineralizing system at depth. Weare looking forward to receiving assay results and report them as soonas they are compiled and interpreted.”
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 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
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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