(TheNewswire)
Vancouver, British Columbia – TheNewswire - April 25 , 2023 – Rackla Metals Inc. (TSXV:RAK)(the “Company”) is pleased to announce that it has staked 146quartz claims, an area approximately 30.5 square kilometers or 3,050hectares, in the Tombstone Gold Belt, Yukon. These claims are known asthe Excite Property and are located 40 km west of Snowline Gold’sValley discovery and 115 km west of Rackla’s Astro project. A mapindicating the location of these new claims may be viewed below.
Figure 1. Excite Property Location
The prospect was identified by researching government regionalgeochemical survey data (RGS), the Yukon Geological Survey EnhancedInterpretation of the RGS Weighted Sums Model for Intrusion-relatedGold Deposits, regional airborne magnetic survey data and historicassessment reports. The Excite Property stood out as highlyprospective for its potential to host a Reduced Intrusion-related GoldSystem (RIRGS) based on numerous criteria. The Weighted Sums Model forIntrusion-related Gold Deposits identified the streams draining theproperty as within the 95-98th percentile for this deposit type. Heavymineral concentrate sampling conducted in 2013 on 4 streams drainingthe western side of the property returned highly anomalous values of461, 1,740, 10,700 and 11,000 ppb gold. Finally, the airborne magneticsurvey identified a circular magnetic low feature with magnetic high“shoulders“ measuring 1.8 km in diameter in the centre of theproperty.
Rackla is planning a summer program to evaluate the property whichwill consist of stream sediment sampling, soil sampling, geologicalmapping and prospecting to trace the gold anomalies and define drilltargets.
Rackla Metals is fo cused on exploration in theTombstone Gold Belt of Yukon and Northwest Territories. The geologicaltarget at Rackla’s properties is a Reduced Intrusion-Related GoldSystem (RIRGS). The Company anticipates that the exploration programswill commence on or around June 1.
Simon Ridgway, CEO commented: “We are pleased to have increased ourfootprint in our Yukon portfolio of projects with a target asprospective as the Excite. The strength of the gold anomalies instreams draining the area is impressive. Recent gold discoveries inthe intrusive bodies and surrounding sediments in the belt indicate there is potential for other near surface, high-grade bulk tonnagegold deposits to be discovered in the district and the acquisition ofthe Excite Property makes Rackla Metals a significant land holder in the eastern Tombstone Gold Belt.”
Qualified Person
Scott Casselman, B.Sc., P.Geo., Vice-President Exploration of theCompany, is a member of the Association of Professional Engineers andGeoscientists of British Columbia and is the Company’s QualifiedPerson as defined by National Instrument 43-101. Mr. Casselman hasreviewed and approved the technical information contained in this newsrelease.
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 norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accept responsibility for theadequacy or accuracy of this press release.
Forward-LookingInformation
Certain statements contained in thisnews release constitute forward-looking statements within the meaningof Canadian securities legislation. All statements included herein,other than statements of historical fact, are forward- lookingstatements and include, without limitation, statements about theCompany’s proposed exploration activities. Often, but not always,these forward looking statements can be identified by the use of wordssuch 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-looking statements involveknown and unknown risks, uncertainties and other factors which maycause the actual results, performance or achievements of the Companyto be materially different from any results, performance orachievements expressed or implied by forward-looking statements. Suchuncertainties and factors include, among others, changes in generaleconomic conditions and financial markets; the Company or any jointventure 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.sedar.com. Although the Company has attempted to identifyimportant factors that could cause actual actions, events or resultsto 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 containedherein are based on the assumptions, beliefs, expectations andopinions of management, including but not limited to: that theCompany’s stated goals and planned exploration activities at itsproperties will be achieved; that there will be no material adversechange affecting the Company or its properties; and such other assumptions as set outherein. Forward-looking statements are made as of the date hereof andthe Company 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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