(TheNewswire)
Vancouver, British Columbia – TheNewswire -- January 4, 2024 –Rackla Metals Inc. (TSX-V:RAK) (the “Company”) entered the 2023season with a commitment to shareholders to get boots-on-the-ground inthe Astro Plutonic Complex of Yukon and NWT in the search for ReducedIntrusion-Related Gold Systems (RIRGS). Research by the Company hadshown that this intrusive complex, which is effectively roadaccessible, was under-explored and had not been tested for RIRGSpotential. The limited amount of historical work focused primarily onthe sedimentary rocks along the margins of the intrusions, while theintrusive bodies themselves were relatively untouched. The Racklateam determined there was tremendous potential for a significant RIRGSdiscovery within the Complex.
The Company employed a large team of prospectors, soilsamplers and geologists to get eyes on the rocks and collect samplesto test the potential of this large, rugged terrain in search forgold-bearing sheeted vein systems with potential for an economicdiscovery. The surface sampling program returnednumerous anomalies and was followed by 3,000 m of reconnaissance-styledrill testing of selected targets.
The HIT claim block covers the Canol Trail Stock, whichis the most northerly intrusive body in the Astro Plutonic Complex.The Canol Trail Stock is a Tungsten Suite monzogranite that measures2.5 km in diameter. Soil and talus-fine sampling in 2023 identified a2.4 square km Au-Bi-As anomaly on the northwestern part of theintrusion that is open in all directions. TheCompany drilled 1,000 m in 5 holes at HIT and intersected significantRIRGS-style gold-bearing intersects in two holes, HIT-003 &HIT-004. These holes were drilled from thesame drill pad, in opposing directions, and cut gold-bearing sheetedveins over a width of 225m and to a depth of 150m. This mineralizedsystem is open to the north, south, west and at depth. Interpretation of the Company’s airborne geophysical data showsthat the western margin of the intrusion dips shallowly under thesediments with a thin cover. Significant drilling will be needed totest this RIRGS target and expectations are high.
HIT property anomalies and 2023drill hole locations.
The SER claim block hosts the most southern of thethree intrusive bodies known as the Kelvin Stock. The Kelvin Stock is10 km south of the Canol Trail Stock, measures 2.2 km in diameter andis a Tombstone Suite granite intrusion. Soil sampling at SER hasreturned strong, coincident Au-As soil anomaly at the Grid Zone, aAu-Bi-As anomaly at the Peak Zone and Au-Bi talus-fine anomaly at thehead of the SER glacier valley. The soil and talus-fine anomalies aregreater than 2 square km and occur within the intrusion andsedimentary rocks in the contact aureole. Prospecting in these areashas returned significant gold mineralization from rock samples with22% of the samples returning greater than 0.5 g/t gold and a peak avalue of 27.5 g/t gold. The Company was not ableto drill test the SER targets in 2023, however it will be a focus ofdrilling in 2024.
SER property soil, talus and rocksample anomalies
Simon Ridgway, Rackla Metals CEO, commented: “The work completed on the AstroPlutonic Complex in 2023 was successful in identifying RIRGS in themost eastern reaches of the Tombstone Gold Belt, an area previouslyonly known for base metal deposits. The initial drill programcompleted on the Canol Trail Stock has indicated real potential for alarge economic gold system. A significant drilling program isjustified in 2024. Multiple other areas within the large groundposition we acquired in 2022 have also shown significant promise tohost RIRGS style gold systems, and I am confident that as we developthese other target areas further discoveries will be made.”
Over the next few months, the Rackla team will be focused on detailed evaluation of results collected from the 2023 fieldprogram that included airborne and ground geophysics, surfacesampling, and drilling. The 2024 workplans will include:
HITProperty : A significant drillprogram is planned to vector towards the heart of the RIRGS targetdiscovered in 2023.
AstroProperty : Additional mappingand prospecting is planned to determine the source of goldmineralization.
SERProperty : A maiden diamonddrill program is planned to test the various gold-in-soil anomaliesand anomalous rock samples.
Other properties : Work on 4 other Company-owned properties,including “boots-on-ground” prospecting, to bring them up to thedrill ready stage.
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 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 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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