(TheNewswire)
Vancouver, British Columbia – April 1 , 2024 – Rackla Metals Inc.(TSXV:RAK) (the “Company”) is pleased to announce the results ofthe 2023 exploration program on the Peak target in the Kelvin Stockintrusive bodies of the Astro Plutonic Complex, Yukon and the 2024drill plans for the property.
In 2023, the Company completed a comprehensiveexploration program on the property that included an airbornegeophysical survey, stream sediment, soil (talus-fine) and rocksampling, prospecting, and mapping. Rackla is extremely pleasedwith the results obtained, which are particularly impressiveconsidering it was the Company’s first year working on the project,having acquired an option on the property in the fall of 2022.
The results highlighted that the mineralizationdiscovered within the Kelvin Stock is related to a ReducedIntrusion-Related Gold System (RIRGS). The geophysical signature ofthe target exhibits features characteristic of an RIRGS – a magneticlow in the centre of the reduced intrusion surrounded by magnetic highshoulders caused by contact alteration in the contact aureole. Themagnetic low extends eastward under sedimentary cover in the area ofthe Peak target and the Company believes this represents an area wherethere is thin sedimentary cover overlying the causativeintrusion.
Kelvin Stock 2023 airbornegeophysical survey magnetic response (Reduced to the Pole,RTP).
The stream sediment sampling program (43 samples)highlighted the Peak target area as anomalous for gold, arsenic, andbismuth, with a good correlation among these elements and very stronggold in stream sediments.
Rackla collected 314 talus-fine samples in thesoutheastern portion of the Kelvin Stock and defined 2 anomalousareas, Peak and Cirque. The Peak target anomaly measures 1.5 km by1.0 km and is well defined by a sheeted vein system with anomalousgold values. It is a robust anomaly with coincident gold, arsenic andbismuth, typical of a RIRGS target. Prospecting and rock sampling atPeak returned a high percentage of samples containing greater than 1.0g/t gold. Twenty percent, or 49 out of 237 rock samples collected onthe property have returned >1.0 g/t gold with the highest valuebeing 17.8 g/t gold. The gold occurs primarily in sheeted quartz-arsenopyrite-bismuth veins that occur in thesedimentary rocks along the eastern margin of the Kelvin Stock, hostto the Peak target. The veins trend north-northeasterly and individualveins can be traced for hundreds of meters. The vein system has beentraced for 1 km along strike and 1.5 km across strike.
Rackla eagerly awaits the start of the summerexploration season in Yukon and is keen to get a drill turning on thePeak target.
The Cirque target has been defined by a singlebase-of-slope contour line which also has coincident gold, arsenic andbismuth values. Interestingly, the gold-in-soil values at Cirque arehighly anomalous for the region. Only a limited amount of work wascompleted at Cirque in 2023 and the Company plans a significantsurface program to expand on and define this anomaly further. Racklaplans to be in a position to drill test the Cirque target later in the2024 season.
Peak target soil and rock sampleanomalies
Simon Ridgway, Rackla Metals CEO, commented: “The work completed on the AstroPlutonic Complex in 2023 was successful in identifying RIRGS targetsin the most eastern reaches of the Tombstone Gold Belt. RIRGS depositsoccur in clusters and in western Yukon, the western cluster (Eagle,Aurmac, Brewery Creek, RC and Red Mountain) contain +20 million ouncesof gold (1) . If the easterncluster, which includes Snowline Gold’s Rogue Plutonic Complex andRackla’s Astro Plutonic Complex, is as productive as the westerncluster, these will be exciting times for the Company.
Our team is currently planning thedrill program at HIT, a maiden drill program at Peak, advancing theCirque target to the drill stage and exploring our other projects in the Belt with thecharacteristics of a Reduced Intrusion-Related Gold System.”
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.
(1) Yukon Geological Survey, 2023. YukonMineral Deposits Summary 2023. Yukon Geological Survey, 18 p.
About Rackla
Rackla Metals Inc. (TSX-V: RAK) is a Vancouver, Canadabased junior gold exploration company. The Company is targetingReduced Intrusion-Related Gold Systems (RIRGS) 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’sexploration 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 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.sedarplus.ca. Although the Company has attempted toidentify important factors that could cause actual actions, events orresults to 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 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.
Copyright (c) 2024 TheNewswire - All rights reserved.