(TheNewswire)
Vancouver, B C - TheNewswire - June 29, 2023 - Rackla Metals Inc. (TSX-V:RAK) (the “ Company ”) ispleased to announce that field crews have mobilized to the Company’sflagship Astro project, located in the western Northwest Territories,and is on schedule with plans to commence its maiden 3000m drillprogram in July.
Highlights:
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The Astro plutonic complex includes the Astro, Ser andHit projects and covers approximately 22,500 Ha along the highlyprospective Tombstone Gold Belt within the Yukon and NorthwestTerritories.
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Rackla’s primary target at Astro, the Radio/UVtarget, benefits from extensive data that has been used to delineatean initial target for exploration.
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Soil and talus fine sampling revealed a stronggold/bismuth anomaly covering an area over 1,200m by 700m
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High-grade trench results that include up to 30 metersof 17g/t Au on surface.
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Phase 1 drilling will follow up limited historic workwhere previous operators intersected gold mineralization within theunderlying Tombstone Intrusive body (see figure 1), a feature that isnow believed to be a primary host for mineralization in the district.
Rackla is well underway constructing a road accessiblecamp on the edge of the Astro Claims that will also service theCompany’s various properties in the Tombstone Belt. The diamonddrill is scheduled to arrive on the property the first week of July,and field crews will be commencing drill pad construction in thecoming days to set up for initial drilling of the Radio/UV target.
The Radio/UV target was discovered by previousoperators with a trench that returned 30 meters of over 17 grams pertonne gold and associated strong bismuth in hornfelsed sedimentaryrocks overlying a Tombstone Suite granitoid. Soil and talus finesampling throughout the valley below and up the adjacent hillsidesdefined a strong gold/bismuth anomaly covering an area over 1,200m by700m with a significant number of samples running over 1 gram pertonne gold. Much of this area is underlain by an intrusive stock,and while the previous operator focused on testing the sedimentaryrocks, it is the belief of Rackla geologists that it is the intrusivebody that is the primary host to the gold mineralization. Initialdrilling will test this hypothesis and combined with geologicalmapping will define any structural controls on the goldmineralization.
Figure 1 -Cross section from Radio to UV Prospect showing minimal testing ofhighly anomalous Intrusive
At least three intrusive bodies are present in theAstro plutonic complex and geophysics indicates multiple other buriedextensions or separate bodies. Rackla believes that these intrusivebodies are the geological feature responsible for the+100km 2 area exhibiting strong gold in stream anomalies that hasattracted previous operators to the region. The Company’s researchhas shown that little to no work has taken place within theseintrusive stocks.
Figure 2 -Anomalous Gold in stream sediments surrounding Astro plutoniccomplex
The Company will also be conducting an airbornegeophysical survey (Precision GeoSurveys Inc.) and a LiDAR survey(Eagle Mapping Ltd.) over the entire Astro plutonic complex withextensive boots on the ground mapping and sampling to betterunderstand the geometry of the intrusives and any structural controlson gold mineralization.
Simon Ridgway, CEO commented: “There is a great dealof anticipation in the team to get on the ground and make discoveries.We are in an area that is prime hunting ground for large gold systemsand work by previous operators gives us a road map where to go. It ismy belief that much of the ground we will be covering this summer hasnot seen a rock hammer previously, certainly this drill program willbe the first diamond drilling program ever on the Astro intrusive.
The Company continues to acquire prospects in the beltand during the summer 2023 and we will also be advancing our othertargets located in eastern Yukon and western NorthwestTerritories.”
Qualified 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 nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accept responsibility for the adequacy or accuracyof this press release.
Forward-Looking Information
Certain statements contained in this news releaseconstitute forward-looking statements within the meaning of Canadiansecurities legislation. All statements included herein, other thanstatements of historical fact, are forward- looking statements andinclude, without limitation, statements about the Company’s proposedexploration activities. Often, but not always, these forward lookingstatements can be identified by the use of words such as“estimate”, “estimates”, “estimated”, “potential”,“open”, “future”, “assumed”, “projected”, “used”,“detailed”, “has been”, “gain”, “upgraded”,“offset”, “limited”, “contained”, “reflecting”,“containing”, “remaining”, “to be”,“periodically”, or statements that events, “could” or“should” occur or be achieved and similar expressions, includingnegative variations.
Forward-looking statements involve known and unknownrisks, uncertainties and other factors which may cause the actualresults, performance or achievements of the Company to be materiallydifferent from any results, performance or achievements expressed orimplied by forward-looking statements. Such uncertainties and factorsinclude, among others, changes in general economic conditions andfinancial markets; the Company or any joint venture partner not havingthe financial ability to meet its exploration and development goals;risks associated with the results of exploration and developmentactivities, estimation of mineral resources and the geology, grade andcontinuity of mineral deposits; unanticipated costs and expenses; andsuch other risks detailed from time to time in the Company’squarterly and annual filings with securities regulators and availableunder the Company’s profile on SEDAR at www.sedar.com. Although theCompany has attempted to identify important factors that could causeactual actions, events or results to differ materially from thosedescribed in forward-looking statements, there may be other factorsthat cause actions, events or results to differ from thoseanticipated, estimated or intended.
Forward-looking statements contained herein are basedon the assumptions, beliefs, expectations and opinions of management,including but not limited to: that the Company’s stated goals andplanned exploration activities at its properties will be achieved;that there will be no material adverse change affecting the Company orits properties; and such other assumptions as set out herein.Forward-looking statements are made as of the date hereof and theCompany disclaims any obligation to update any forward-lookingstatements, whether as a result of new information, future events orresults or otherwise, except as required by law. There can be noassurance that forward-looking statements will prove to be accurate,as actual results and future events could differ materially from thoseanticipated in such statements. Accordingly, investors should notplace undue reliance on forward-looking statements.
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