Juggernaut Commences Inaugural Drill Campaign on Its Midas Property
TSX VENTURE: JUGR
VANCOUVER, British Columbia, Aug. 07, 2018 (GLOBE NEWSWIRE) --
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Juggernaut Exploration Ltd. (JUGR.V) (4JE.F) (the “Company” or “Juggernaut”) is pleased to report it has commenced diamond drilling with the addition of a second rig for the Midas property located near Terrace, BC. The IP geophysical program on its Midas is also underway.
Based on new exploration results Juggernaut is ramping up the drilling with the construction of up to 20 pads across both properties targeting multiple new discovery zones with up to three or more holes per pad.
JUGGERNAUT PROGRAM HIGHLIGHTS:
- Inaugural drill program started on Midas at the 2.1 by 1.6 km King Solomon Gold Zone
- IP survey spanning the King Solomon Zone has commenced focused on identifying mineralization geophysical signatures in the subsurface for drill targeting
- Multiple new silicified and locally mineralized zones have recently been identified by mapping and prospecting measuring up to 200 by 50 metres thick and 1 kilometre by 300 metres. Channel cuts have been taken to delineate additional drill targets – assays are pending
- Mapping suggests mineralization is associated with a large epithermal system with a structural orogenic overprint.
- The first drill hole at 45 degrees on Max Min has intersected a broad zone containing sulphide-bearing (dominantly pyrite) quartz veins from surface that is consistent with those observed on surface in 2017 – assays pending. Drilling remains ongoing on the MaxMin zone (link to photo). The reader is cautioned that the presence of sulphide minerals does not guarantee the presence of economic mineralization.
- Senior mapper on Empire Gayle Febbo has drawn structural comparisons between what is seen at Pretivm’s Brucejack and the extensive Rockstar discovery zone (link to video)
- A VMS specialist was recently contracted to visit the Empire property in preparation for drilling and concluded the Big One target is in a geological setting that is conducive for volcanic massive sulphide mineralization, further strengthening the large, strong subsurface SkyTEM and IP drill target.
MIDAS PROPERTY EXPLORATION UPDATE
Preliminary mapping and prospecting at the 2.1 by 1.6 km King Solomon Gold Zone has outlined a pervasive alteration system spanning in excess of 1 kilometre by 450 metres (link to video). Within this zone, two new regional targets that remain open have been identified and mapping is ongoing to determine their full extent (link to map #1), (Link to map #2):
- New Silicified Hydrothermal Breccia Discovered
- 200 metres by 40-50 metres thick and open along strike in both directions – assays pending.
- Characterized by intense and pervasive silica-flooding and brecciation of the wallrock with in-situ flooding in the matrix.
- Localized base metal mineralization identified including sphalerite + chalcopyrite ± galena ± bornite. Observed base metal sulphide mineralization is extensive but not continuous across the entire hydrothermal breccia. Samples have been taken in preparation for drilling – assays are pending.
- Preliminary observations and interpretation suggest an epithermal environment with a structural orogenic overprint.
- New Quartz Vein/Stockwork Structures Discovered
- Sub-parallel quartz-vein/stockwork structures occur in localized areas within a 1 km by 300 metre zone within the larger King Solomon structural corridor. Channel cuts have been taken with the focus of delineating additional drill targets – assays pending.
- As similar quartz-vein/stockwork structure hosts gold mineralization at the VG showing, including channel cuts of up to 4.43 meters of 10.28 grams per tonne gold (see Jan 15th Press Release).
- Results from an ongoing, extensive, systematic sampling program are pending, which includes grab, chip, and channel samples.
Drilling will target multiple zones of bedrock polymetallic and gold mineralization on the King Solomon zone that contains channel cuts of up to 4.43 meters of 10.28 grams per tonne gold (see Jan 15th Press Release).
EMPIRE PROPERTY EXPLORATION UPDATE
Drilling and pad building is ongoing at Empire across multiple discovery zones. Up to three pads are being built at MaxMin (see July 31st Press Release) and drilling is currently ongoing. Similarly, two pads have been constructed at Metalworks to test a 130 by 40 metre zone of polymetallic mineralization and gossanous alteration. Three pads have been designed to target the subsurface Big One IP and EM anomaly and a further seven pads are planned along the 1 kilometre by 550 metre large Rockstar zone (see Dec 5th Press Release). Drill pads are planned to have up to three or more holes per pad (link to map).
Mr. Dan Stuart, Director, President and CEO of Juggernaut states:
“The start to the 2018 program is off to a great start and has already exceeded our expectations with multiple new mineralized zones being discovered so early on, further demonstrating the enormous untapped potential of both the Empire and Midas properties. Both properties are 100% controlled and located in a world class geological setting in close proximity to infrastructure. We look forward to reporting drill results once assays have been received, complied, and interpreted.”
Stefan Kruse, Ph.D., P. Geo., Chief Geologist, is the qualified person as defined by National Instrument 43- 101, for Juggernaut Exploration projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.
All 2017 rock, channel and talus fine samples were crushed and pulverized at ALS Canada Ltd.’s lab in Terrace, BC or in Reno, Nevada. ALS is either Certified to ISO 9001:2008 or Accredited to ISO 17025:2005 in all of its locations. The resulting sample pulps were analyzed for gold by fire assay in Reno, Nevada or in Vancouver, BC. The pulps were also assayed using multi-element aqua regia digestion at ALS Canada Ltd.’s lab in Vancouver, BC. All samples were analyzed using ALS Canada Ltd.’s assay procedure ME-ICP41, a 1:1:1 aqua regia digestion with inductively-coupled plasma atomic emission spectrometry (ICP-AES) or inductively-coupled plasma mass spectrometry (ICP-MS) finish for 35 elements as well as the Au-AA24 lead-collection fire assay fusion procedure with atomic absorption spectroscopy (AAS) finish. Any results greater than 100 ppm for silver or 10,000 ppm copper, lead and zinc were additionally assayed using ALS’s OG46 method particular to each element. This method used an HNO3-HCl digestion followed by ICP-AES (or titrimetric and gravimetric analysis). Gold values of greater than 10 ppm Au were assayed by the Au-GRA22 method that includes a fire-assay fusion procedure with a gravimetric finish. Blanks and duplicates QA/QC samples were inserted into channels sample laboratory batches. Additionally, and 10% sub-sample of pulp and reject material was sent to Activation Laboratories in Ancaster, Ontario, for check-analysis.
The reader is cautioned that grab samples are spot samples which are typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intended to be representative of the material sampled.
For more information, please contact:
Juggernaut Exploration Ltd.
Mr. Dan Stuart
President and Chief Executive Officer
Tel: (778) 223-0293
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD LOOKING STATEMENT
Certain disclosure in this release may constitute forward-looking statements that are subject to numerous risks and uncertainties relating to Juggernaut’s operations that may cause future results to differ materially from those expressed or implied by those forward-looking statements, including its ability to complete the contemplated private placement. Readers are cautioned not to place undue reliance on these statements. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION TO PURCHASE ANY SECURITIES DESCRIBED IN IT.