(TheNewswire)
First drill hole at Hit target expands RIRGS mineralizationto the southwest; assays pending
Vancouver, British Columbia – July 17, 2024 – TheNewswire – RacklaMetals Inc. (TSX-V: RAK) (the “Company”) is pleased to announcethat drilling has commenced at its Hit target,Astro Plutonic Complex, in eastern Yukon.
Rackla’s team has moved into their road accessiblecamp that will facilitate all work on the Astro Plutonic Complex. The2024 drill program is now underway, and the first holes being drilledare designed to expand the RIRGS ( Reduced Intrusion-Related GoldSystems ) mineralization discovered at the Hittarget last year.
The Hit target is defined by a prominent corridor ofintense sheeted quartz-sulphide veins within the 2.5 sq km Canol TrailStock.
Plan view map of the MehitabelShowing, Hit target, with 2024 holes HIT-006 and HIT-007:
The first hole of the 2024 campaign, HIT-006, wasdrilled below and to the southwest of 2023 drill holes HIT-003 andHIT-004. Hole HIT-007 was drilled from the north towards HIT-003 and004 targeting the sheeted vein system and fault structures along thenorthern margin of the sediment-intrusive contact. The image belowshows sheeted vein system in monzogranite from HIT-006. This drillhole expands the known RIRGS mineralization to the southwest and fromsurface to a verticaldepth of 229m.
Core photo of multiphasequartz-carbonate-sulfide veining in hole HIT-006:
Core photo of multiphasequartz-sericite-sulfide veining in hole HIT-007:
The Rackla field team is also working at the Peaktarget and has mobilized the drill to collar the first drill hole atthe target this week. The Peak target is locatedon the eastern flank of the Kelvin Stock, 11 km south of the Hittarget.
Both the Hit and Peak targets are located within theAstro Plutonic Complex (APC), eastern Tombstone Gold Belt, in proximity to the territorial border betweeneastern Yukon and western Northwest Territories, Canada . The APC is road accessible via the North Canol road.
Simon Ridgway, CEO commented: “Ourteam is excited to have initiated the next phase of drilling on theHit target and look forward to maiden drilling at the Peak target inthe coming days. We are encouraged with the sheeted vein density inHIT-006 and HIT-007, and look forward to the assay results.”
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 Regulation Services Provider(as that term is defined in the policies of the TSX Venture Exchange)accept responsibility for the adequacy or accuracy of this pressrelease.
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”, orstatements that events, “could” or “should” occur or beachieved and similar expressions, including negativevariations.
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.sedarplus.ca. Althoughthe Company has attempted to identify important factors that couldcause actual actions, events or results to differ materially fromthose described in forward-looking statements, there may be otherfactors that 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 propertieswill be achieved; that there will be no material adverse changeaffecting the Company or its properties; and such other assumptions asset out herein. Forward-looking statements are made as of the datehereof and the Company disclaims any obligation to update anyforward-looking statements, whether as a result of new information,future events or results or otherwise, except as required by law.There can be no assurance that forward-looking statements will proveto 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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