(TheNewswire)
Vancouver, British Columbia – TheNewswire - September 5, 2023 –Rackla Metals Inc. (TSXV:RAK) (the “Company”) is pleased toannounce that the Company has commenced diamond drilling at the HITproperty, Yukon. The drilling at HIT is part of the previouslyannounced 3,000 m drill program focussed on targeting a ReducedIntrusion-related Gold System (RIRGS) in the intrusive bodies at theAstro plutonic complex. The Company plans to drill 1,000 m in 5 holesat HIT on targets identified by airborne geophysics,boots-on-the-ground prospecting, talus fines and rock sampling.
A high priority 1,000 m by 400 m Au/Bi/As anomaly hasbeen defined in soils, rock and talus fines associated with anorthwest trending structural corridor exhibiting strong sheeted veinzones in outcrop within the intrusive stock.
The HIT property is underlain by the Canol Stock, amonzogranite intrusion of the Tombstone Suite (Figure 1). The widespaced drilling is being focused on this structural corridor testingthe Ridge Zone, the Central Zone and the Mehitabel Zone (Figure 1,Table 1).
Figure 1 : HITproperty mineralized zones.
The Ridge Zone is characterized as a highly tectonizedintrusive with sheeted veins containingpyrrhotite-pyrite-chalcopyrite. Talus fine sampling in the area hasreturned 1.3 g/t gold over 6 m. This zone was tested with HIT-002,results pending.
The Central Zone is located 600m N/W of the Ridge zoneand here float samples have returned 20 g/t Au and 4.9 g/t Au in grabsamples. This zone was tested by HIT-001 with results pending.
The Mehitabel zone is located a 1,000m N/E of the RidgeZone at the northern margin of the Monzogranite, where it is incontact with carbonaceous finely bedded siltstone. Sheeted veinscutting the siltstone and the intrusive stockhere have returned strongly anomalous gold values both in the vein andskarn zones, up to 3.4 g/t Au. This zone was tested in HIT -003,results pending.
Image 1. Abundant sheeted veins cutting monzogranite at the MehitabelZone. The veins are intensely oxidized at surface and containpyrrhotite, pyrite and chalcopyrite where not completely weathered.Chip channel samples returned up to 0.7 g/t Au over the 2m chipsample.
Image 2. Recent intercept of sheetedquartz-sulfide veins with sericitized halos in HIT-003.
Table 1. Anomalous gold-bearing samples from HITproperty.
Area of interest | Station_ID | Au (ppm) | Bi (ppm) | As (ppm) | Cu (ppm) |
Mehitabel – zone | HIT-AR-030 | 0.3 | 11.2 | 17.2 | 1620 |
Mehitabel – zone | HIT-AR-032 | 0.42 | 12.8 | 8.4 | 524 |
Mehitabel – zone | HIT-AR-033 | 0.68 | 18.65 | 19.2 | 4030 |
Mehitabel – zone | Hit-8 | 0.562 | 61 | 18 | 687 |
Mehitabel – zone | Hit-80 | 0.719 | N/A | N/A | N/A |
Mehitabel – skarn | Hit-7 | 3.482 | 238 | 59 | 298 |
Mehitabel – skarn | Hit-85 | 0.854 | N/A | N/A | N/A |
Mehitabel – skarn | AHHTG006 | 3.85 | >10000 | 130 | 991 |
Mehitabel – skarn | AHHTR013 | 2.01 | 7300 | 92 | 755 |
Central zone | Hit-AR-009 | 0.91 | 0.51 | 10000 | 1225 |
Central zone | Hit-AR-006 | 0.36 | 1.43 | 7870 | 84.2 |
Central zone | Hit-45 | 1.298 | N/A | N/A | N/A |
Central zone | Hit-75 | 20.51 | N/A | N/A | N/A |
Ridge zone | Hit-91 | 0.793 | N/A | N/A | N/A |
Ridge zone | Hit-92 | 0.561 | N/A | N/A | N/A |
Ridge zone | Hit-96 | 4.916 | N/A | N/A | N/A |
Ridge zone | AHHTG003 | 0.41 | N/A | N/A | N/A |
Babe Ruth | RZHTR018 | 0.598 | 55 | 5 | 601 |
McDame Zone | BKHT-24 | 2.506 | <2 | 3170 | 7 |
McDame Zone | BHIT-1 | 1.152 | 152 | 387 | 235 |
Drilling to continue at Astro
Following the completion of the drilling at HIT, theCompany will return to the Astro property to drill at the Lake CreekValley target. The Lake Creek Valley target is defined by a 450m longgold-bismuth-molybdenum talus fines anomaly and abundant sheeted veinsin the biotite-hornblende-clinopyroxene granite of the TombstoneSuite. The sheeted veins are well oxidized on surface and have beenobserved to contain pyrrhotite-pyrite-chalcopyrite with a sericitichalo where they are not completely weathered (Image 3).
Simon Ridgway, CEO commented: “The approach we have taken to explorethis large Astro Intrusive complex is to define areas with sheetedveining and/or skarn zones with anomalous gold/bismuth within theintrusive bodies and test them with wide spaced drill holes. The lowangle of the holes (-50) gives us maximum lateral coverage, as doesthe wide spacing of the drill holes. Results will be compiled atseason end and areas exhibiting the potential to host sizable golddeposits will be tested with significant drill programs in 2024season. Boots on the ground within these intrusive bodies hasidentified many areas that warrant follow-up. I believe compilationof the results of this year’s program will generate exciting targetsfor 2024.”
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 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”, 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.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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