(TheNewswire)
Vancouver, B C - TheNewswire - March 1, 2023 - Rackla Metals Inc. (TSXV:RAK) (the “ Company ”) ispleased to announce it has increased the size of the Astro propertywith the staking of claims that cover 822 hectares. This new claimblock connects the Company’s land holdings between the Hit and theAstro border intrusive centres, where strong stream geochemistry andgeophysics indicate a relationship between thesetwo exposed intrusive bodies.
Over the past few months, the Company has worked up theextensive data packages generated by previous operators on theproperties presently under Rackla’s control and the resultingtargets are compelling. At Astro, the principal target area is theRadio Target where soil and talus geochemical sampling has defined astrong gold anomaly measuring 1,600m X 750m. This anomaly isunderlain by an intrusive body that has never been tested by drillingor trenching. A significant number of the soil samples returnedvalues over 1,000 ppb gold. The chemistry in these samples shows astrong correlation of gold with bismuth, tellurium, tungsten, arsenicand tin, which are indications that the mineralization is associatedwith a Reduced Intrusion-Related Gold System (RIRGS). Theconsistency and strength of the anomaly over the central target areais impressive.
Astro Project – Compilation mapwith new claim block location
Click Image To View Full Size
The new claim block covers the area to the west of thegold-in-soil anomaly, where scattered sampling previously completedindicates an extension of the gold anomaly. The Company’s 2023exploration program will extend the soil grid to cover this areabetween the Astro and the Hit properties. The Company is fullypermitted to drill in the Northwest Territories and drilling willcommence there early in the summer program. An application has beenmade for a Class 1 permit to allow for drilling across the border inthe Yukon Territory, as well.
The Company will also be undertaking an airbornegeophysical survey which will tie-in to data from the Astro property(Newmont JV, 2019) with historic surveys completed over the Hitproperty (Aben Resources, 2011), and to cover the surrounding areanorth and east of the mapped intrusive bodies to help to complete thegeological picture. Rackla is in the process of compiling thehistorical data from the previous operators, including detailedgeological mapping, surface and downhole geochemistry, which will beused to define further drill targets where stream and soilgeochemistry has indicated potential.
Southwest of the Astro and Hit properties, on the Serclaim group, stream sediment sampling has returned values of over 500ppb Au from streams draining a small intrusive stock. This anomalyhas not been followed up. The Company is compiling information fromthis site, with the intention of conducting follow-up soil sampling,prospecting and geological mapping in 2023.
Simon Ridgway, CEO of Rackla,states, “I believe there is potential for significant golddiscoveries to be made in this neglected area of the Tintina gold beltby boots on the ground exploration. We will be putting a lot ofgeologists out in the field to follow up on previously identifiedtarget areas.”
Qualified Person
Scott Casselman, B .Sc., P.Geo., Vice-President Exploration of the Company, is amember of the Association of Professional Engineers and Geoscientistsof British Columbia and is the Company’s Qualified Person as defined by National Instrument43-101. Mr. Casselman has reviewed andapproved the technical information contained in this newsrelease.
Simon Ridgway,
CEO and Director
Tel: (604) 801-5432; Fax: (604) 662-8829
Email: info@goldgroup.com
Website: www.racklametals.com
Neither the TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptresponsibility for the adequacy or accuracy of this pressrelease.
Forward-Looking Information
Certain statementscontained in this news release constitute forward-looking statementswithin the meaning of Canadian securities legislation. All statementsincluded herein, other than statements of historical fact, areforward-looking statements and include, without limitation, statementsabout the Company’s planned exploration activities. Often, but notalways, these forward looking statements can be identified by the useof 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 similarexpressions, including negative variations.
Forward-lookingstatements involve known and unknown risks, uncertainties and otherfactors which may cause the actual results, performance orachievements of the Company to be materially different from anyresults, performance or achievements expressed or implied byforward-looking statements. Such uncertainties and factors include,among others, whether the Company’s exploration activities willproceed as planned; 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 atwww.sedar.com. Although the Company has attempted to identify importantfactors that could cause actual actions, events or results to differmaterially from those described in forward-looking statements, theremay be other factors that cause actions, events or results to differfrom those anticipated, estimated or intended.
Forward-lookingstatements contained herein are based on the assumptions, beliefs,expectations and opinions of management, including but not limited to:that the Company’s stated goals and planned exploration activitiesat its properties will be achieved; that there will be no materialadverse change 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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