(TheNewswire)
Vancouver, British Columbia – September 26, 2023 –Rackla Metals Inc. (TSXV:RAK) (the “Company”) is pleased toannounce that the Company has completed its 2023exploration program that included 3,039 m of diamond drilling in 17holes focused on Reduced Intrusion-Related GoldSystems (RIRGS) at the Astro intrusive complex , in theeastern Selwyn Basin of Yukon and NWT. The Astro intrusive complex iscomprised of the Astro, HIT and SER properties. Twelve holes (2,041.3m) were drilled on the Astro property and 5 holes (997.5 m) weredrilled on the HIT property.
The HIT property covers the Canol Trail Stock, aK-feldspar porphyritic biotite monzogranite belonging to theCretaceous-aged Tungsten Suite (Figure 1). Seven mineral occurrenceshave been identified on the property, each exhibiting characteristicsof RIRGS, including: magnetic low in the intrusion with a magnetichigh in the altered sedimentary rocks around the margins, sheetedquartz-sulphide veining in the intrusion, a gold-bismuth-arsenicchemical association.
Figure 1. HIT property compilationmap showing 2023 drill hole locations.
Figure 2. Slabs of monzogranitesub-crop at the Mehitabel occurrence exhibiting preferentialweathering of sulphide minerals from sheeted quartz-sulphide veinscreating the thin slabs on surface.
The drill program on the HIT property tested a high priority 1,500 m by1,000 m Au/Bi/As anomaly defined by soil, rock and talus finesampling. The anomaly is associated with a northwest trendingstructural corridor exhibiting strong sheeted veining in the CanolTrail Stock. Four holes (HIT-001 to HIT-004)tested the Mehitabel, Central, and Ridge zones. Hole HIT-005 testedthe Gully Zone.
HIT-001 intersected stockwork veining in the CentralZone while HIT-002 intersected similar veining 400 m south towards theRidge Zone.
Holes HIT-003 and HIT-004 were drilled 700 m alongstrike to the northwest of HIT-001 targeting an area of highlyfractured, sheeted veins at the Mehitabel Showing (Figure 2). HIT-003and HIT 004 cut a zone of intensely sheeted quartz (Qtz)-pyrrhotite(Po)-arsenopyrite (Aspy)-bismuthinite (Bi)-chalcopyrite (Cpy) veiningthat measures approximately 290 m in width and includes intervals withup to 55 veinlets per metre and quartz-sulphide veins up to 3 m wide(Figure 3).
Figure 3. Cross section of holesHIT-003 and HIT-004 at the Mehitabel Zone with sheetedQtz-Po-Aspy-Bi-Cpy vein density.
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In hole HIT-003, the intense sheeted veining wasconsistent over the entire 273 m drill hole and averaged approximately12 veins per metre. Most of the veins have sericite-carbonate alteredselvages and there are variable amounts of carbonate-filledmicrofractures in the host granodiorite (Figure 4).
Figure 4. Sheeted Qtz-Po-Aspy-Bi-Cpyveins in hole HIT-003.
HIT-004 was drilled from the same pad as HIT-003 in theopposite direction and cut the steeply southwest dipping sheeted veinsat a slightly lower angle but the veining and alteration wascomparable to HIT-003 for most of the 178.31 m hole (Figure 5). These2 holes tested a section of this structural corridor measuring 290 min width and to a depth of 210 m vertically below surface. Thesulphide-bearing veins observed in the drill core demonstrate how theeffects of surface weathering and oxidation of the sulphide mineralscreate the slabs of monzogranite observed on surface.
Figure 5. Sheeted Qtz-Po-Aspy-Bi-Cpyveins in hole HIT-004.
HIT-005 was drilled on the southeast corner of the HITproperty to test a hornfelsed block of silty-limestone sedimentswithin the monzogranite. Due to mechanical problems the hole wasabandoned at 50 m, just short of the targeted zone.
The final drill hole of the program, hole AST-012, wasdrilled at the Lake Creek Valley prospect in the Border Pluton on theAstro property. The Border Pluton is a biotite-hornblende-clinopyroxene granite intrusion thatbelongs to the Cretaceous-age Tombstone Suite. In 2023, Rackladiscovered a new showing at Lake Creek Valley. The occurrence consistsof a broad slope of weathered, iron-stained slabs of granite, similarto the slabs of monzogranite observed at the Mehitabel occurrence. Theoccasional un-weathered quartz-sulphide vein was observed to containpyrrhotite, arsenopyrite, and molybdenite. Talus fine sampling alongthe base of the valley returned anomalous gold, bismuth, arsenic, andmolybdenum (Figure 6).
Hole AST-012 intersected granite from the top of thehole with an average sheeted vein density of 2.8 veins per metre up to12 veins per metre (Figure 7). The veins containedquartz-pyrite-pyrrhotite-bismuthinite-arsenopyrite-molybdenite + chalcopyrite.
Figure 6. Drill hole AST-012 testedtalus fine gold-bismuth anomaly in the Lake Creek Valley, Astroproperty.
Figure 7. Sheeted Qtz-Po-Aspy-Cpy-Biveins in hole AST-012.
Final analytical results are expected within thecoming weeks.
Sample Analysis
Drill core samples have been delivered to the ALS Global preparatory facility in Whitehorse,Yukon. Sample preparation was completed in Whitehorse, with analysescompleted in Vancouver.
ALS Global is accredited to ISO/IEC 17025 and ISO9001for quality management. Rock and drill core samples were crushed to>85% passing below 2 mm and split using a riffle splitter. 250 gsplits were pulverized to >70% passing below 75 microns. An aquaregia digestion with an inductively coupled plasma mass spectroscopy(ICP-MS) and inductively coupled plasma atomic emission spectroscopy(ICP-AES) finish was used for 51-element analysis on 0.5 g samplepulps (ALS code: ME-MS41). All samples were analysed for gold contentby fire assay with an atomic emission spectroscopy (AES) finish on 50g samples (ALS code: Au-ICP22).
Core photos for the complete holes are available forthe HIT property, HIT–003 and 004 and the Astro property, AST–012at:
https://racklametals.com/projects/tombstone-gold-belt-properties/#core-photos
Qu alified Person
Scott Casselman, B.Sc., P.Geo., Vice-PresidentExploration of the Company, is a member of the Association ofProfessional Engineers and Geoscientists of British Columbia and isthe Company’s Qualified Person as defined by National Instrument43-101. Mr. Casselman has reviewed and approved the technicalinformation contained in this news release.
About Rackla
Rackla Metals Inc. (TSX-V: RAK) is a Vancouver, Canadabased junior gold exploration company. The Company is targetingRIRGS (Reduced Intrusion-Related Gold System) mineralization on thesoutheastern part of the Tombstone Gold Belt in eastern Yukon andwestern Northwest Territories. Management believes that this area,which is underexplored for RIRGS deposit types, has the potential tobe the next frontier for their discovery.
ON BEHALF OF THE BOARD
Simon Ridgway,
CEO and Director
Tel: (604) 801-5432; Fax: (604) 662-8829
Email: info@goldgroup.com
Website: www.racklametals.com
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accept responsibility for theadequacy or accuracy of this press release.
Forward-Looking Information
Certain statements contained in thisnews release constitute forward-looking statements within the meaningof Canadian securities legislation. All statements included herein,other than statements of historical fact, are forward- lookingstatements and include, without limitation, statements about theCompany’s exploration activities. Often, but not always, theseforward looking statements can be identified by the use of words suchas “estimate”, “estimates”, “estimated”, “potential”,“open”, “future”, “assumed”, “projected”, “used”,“detailed”, “has been”, “gain”, “upgraded”,“offset”, “limited”, “contained”, “reflecting”,“containing”, “remaining”, “to be”, “periodically”, orstatements that events, “could” or “should” occur or beachieved and similar expressions, including negativevariations.
Forward-looking statements involveknown and unknown risks, uncertainties and other factors which maycause the actual results, performance or achievements of the Companyto be materially different from any results, performance orachievements expressed or implied by forward-looking statements. Suchuncertainties and factors include, among others, changes in generaleconomic conditions and financial markets; the Company or any jointventure partner not having the financial ability to meet itsexploration and development goals; risks associated with the resultsof exploration and development activities, estimation of mineralresources and the geology, grade and continuity of mineral deposits;unanticipated costs and expenses; and such other risks detailed fromtime to time in the Company’s quarterly and annual filings withsecurities regulators and available under the Company’s profile onSEDAR at www.sedar.com. Although the Company has attempted to identifyimportant factors that could cause actual actions, events or resultsto differ materially from those described in forward-lookingstatements, there may be other factors that cause actions, events orresults to differ from those anticipated, estimated orintended.
Forward-looking statements containedherein are based on the assumptions, beliefs, expectations andopinions of management, including but not limited to: that theCompany’s stated goals and planned exploration activities at itsproperties will be achieved; that there will be no material adversechange affecting the Company or its properties; and such otherassumptions as set out herein. Forward-looking statements are made asof the date hereof and the Company disclaims any obligation to updateany forward-looking statements, whether as a result of newinformation, future events or results or otherwise, except as requiredby law. There can be no assurance that forward-looking statements willprove to be accurate, as actual results and future events could differmaterially from those anticipated in such statements. Accordingly,investors should not place undue reliance on forward-lookingstatements.
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