Juggernaut Commences Drilling of Two Extensive High-Grade Gold-Silver Targets in Northwest B.C.
August 03 2021 - 7:45AM
Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF)
(FSE: 4JE) (the “Company” or “Juggernaut”) is pleased to
report it has commenced inaugural diamond drill programs at each of
its 100% controlled GoldStandard and Goldstar projects. Drilling is
designed to test newly discovered extensive high-grade gold-silver
zones to depth. These projects are situated in the prolific
mineralized terrain of northwestern British Columbia and are
located in close proximity to infrastructure providing for cost
effective exploration.
GOLDSTANDARD PROPERTY:
GOLDZILLA HINGE ZONE DRILL TARGET
#1
100m long by up to 20m wide Hinge
Zone containing high grade gold mineralization of up to
6.00 g/t AuEq over 12m including 5m of 13.03 g/t AuEq and
1m of 31.66 AuEq (schematic of hinge zone). The Hinge Zone
is part of the larger Goldzilla orogenic system that has been
traced on surface for 938m with 320m of vertical relief and remains
open along strike and at depth (hinge zone image). Drilling is
designed to test the Goldzilla Hinge Zone to depth.
The GoldStandard property is situated in the
central coastal region of British Columbia Canada, only 4km from
major infrastructure and 1km to tidewater and logging roads
providing excellent, cost-effective exploration.
Approximately 67% of Canadian gold production comes from
orogenic type deposits.
GOLDSTAR PROPERTY:
GOLDILOCKS ZONE DRILL TARGET
#2
Goldilocks Zone is demarked by multiple outcrops
that daylight in glacial talus containing high-grade gold and
polymetallic mineralization with grab samples assaying up to 40 g/t
AuEq. The zone is defined by veining and altered host rock over an
area of 190m by 20m and 160m vertical relief and remains open in
all directions. 2019 channel sampling within the Goldilocks Zone
included a 3.75m cut to partially test a 10.5m wide section of
exposed outcrop. This cut returned 7.86 g/t AuEq over 3.75m true
width starting in 9.01 g/t AuEq and ending in 10.79 g/t AuEq.
Juggernaut thinks this zone remains open in all directions.
Importantly, gold mineralization occurs in host rocks (pyritic
chlorite schist) that assayed 1.13 g/t AuEq over a 1-meter interval
inside the 3.75-meter channel (link to video). To date, 84%
of rock samples collected at Goldilocks assayed greater than 1.0
g/t gold suggesting continuity of gold mineralization
(link to image). Drilling is designed to test the discovery outcrop
to depth (link to map).
The Gold Star Property is situated on the
central coast of BC and is located approximately 5.5km from logging
access roads and lies within 4.5km of tidewater providing for good
access to infrastructure. The Gold Star Property is a virgin
discovery with no previous recorded work in the area. Approximately
67% of Canadian gold production comes from orogenic type
deposits.
Dan Stuart, President and CEO of
Juggernaut states:
“Juggernaut is in the unique position of being
fully funded to undertake inaugural drilling at two virgin bedrock
discoveries, GoldStandard (link to video) and Goldstar (link to
video). In previous seasons’ work, Juggernaut confirmed the
presence of high-grade gold-silver-polymetallic mineralization over
significant extents at both projects. With drilling now underway
coupled with only 40M shares outstanding, no debt and over
$6,000,000 in the treasury, Juggernaut provides an excellent
opportunity for investors to participate in these exciting
exploration stories, in a strengthening precious and base metals
bull market.”
Dr. Quinton Hennigh
Geologist
“Juggernaut has a youthful, aggressive team
working on their highly prospective early stage gold projects in
BC,” commented Quinton Hennigh, technical advisor to the Company.
“It is great to see first pass drilling commence at these two most
advanced targets, but the Company has also been busy conducting
systematic prospecting across its extensive land holdings, work
that will likely yield many more such drill targets. The Company is
well cashed up and is in a great position to undertake this work.
We look forward to soon seeing what drilling delivers.”
Qualified Person
Rein Turna, P. Geo 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.
Other
All rock, channel and talus fine samples were
crushed and pulverized at ALS Canada Ltd.'s lab in Vancouver, BC.
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 Vancouver, BC. The pulps were
also assayed using multi-element aqua regia digestion at ALS Canada
Ltd.'s lab in Vancouver, BC. The coarse reject portions of the rock
samples, as well as the pulps, were shipped to DSM Syndicate's
storage facility in Terrace, 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 which includes a
fire-assay fusion procedure with a gravimetric finish. QA/QC
samples including blanks, standards, and duplicate samples were
inserted regularly into the sample sequence.
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.
About Juggernaut Exploration
Ltd.
Juggernaut Exploration Ltd. is a precious metals
project generator in the geopolitically stable jurisdiction of
Canada, focused on the prolific geologic setting of northwestern
British Columbia.
For more information, please contact:
Juggernaut Exploration Ltd.
Dan
Stuart604-559-8028President and Chief
Executive Officer
www.juggernautexploration.com
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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
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