Juggernaut Exploration Ltd V.JUGR

Juggernaut Exploration Looking For Another Surebet Discovery

[yukon_gold]

Juggernaut Exploration Looking For Another Surebet Discovery Like Neighbour Goliath Resources

Juggernaut is only 4 holes into a discovery that is showing results like at neighbour Goliath Resources' Surebet discovery in Golden Triangle.

Rocks And Stocks News

Jun 20, 2024

 

I’m pleased to welcome Juggernaut Exploration to the sponsorship program at Rocks And Stocks News. I do a lot of coverage for the benefit of sponsors because I appreciate their patronage and sponsors make it possible for me to provide content for the benefit of my audience.

Whether a company is a sponsor, a pick or a company I own shares in, they all have to pass through the filter that I have built up during my 30 years working in the mining sector. I have been blessed to have been mentored by extremely talented geophysicists, geochemists and geologists. Sponsors and picks go through the same filter, the difference is only in the amount of coverage as sponsors enable me to do extensive coverage on them.

I’ve been following Juggernaut for around a year because they have the ground adjacent to Goliath Resources which is my highest conviction gold discovery pick. What stood out to me about Juggernaut is the geological similarities to Goliath Resources’ ground where they made the Surebet discovery which is emerging as an important grassroots gold discovery.

During the 2023 drilling season, Juggernaut did their first drilling campaign, four holes were completed with very good results. If you compare their early drilling results with Goliath Resources’ during their discovery drilling phase at Surebet, they compare very favourably and in some cases they had even better results at the early stages of drilling.

Since Goliath made the discovery at Surebet, they have gone on to drill a little more than 200 holes, with widespread gold mineralization, they hit gold mineralization in almost every drill hole and during the 2023 drilling season, nearly 40% of the drill hits had visible gold. The visible gold ranged from fine grained to coarse grained in the sediments with the coarse grained visible gold in the deepest holes into their gold mineralizing system.

Based on the minimal drilling that Juggernaut has done so far, they have established the potential to have a Surebet lookalike discovery story on their ground.

Bingo Property

The maiden drill program happened on this project in 2023, they are cashed up for the 2024 drilling season that will be underway shortly.

It is located in the southern tip of the Golden Triangle of British Columbia. The Golden Triangle is a prolific mining jurisdiction well known for big, high-grade mines. The southern tip of the Golden Triangle is a hotbed of activity, with Dolly Varden and Goliath Resources having made important discoveries, Juggernaut is well positioned in this region and initial drilling in 2023 has them ready for more drilling success in 2024.

Like at the nearby Surebet discovery made by Goliath Resources, the key rock packages hosting the gold mineralization are the Hazelton volcanics and Hazelton sediments that run through Juggernaut’s Bingo project. Four holes were completed in 2023 for the maiden drilling program returning excellent results.

Drill hole BI-23-01 intersected 11.42 gpt AuEq (7.57 gpt Au, 20.23 gpt Ag and 2.72 % Cu) over 5.11 meters, including 19.69 gpt AuEq (13.05 gpt Au, 24.93 gpt Ag and 4.70 % Cu) over 2.90 meters.

Drill hole BI-23-02 intersected 4.81 gpt AuEq (2.86 gpt Au, 8.72 gpt Ag and 1.39 % Cu) over 7.05 meters, including 9.49 gpt AuEq (5.69 gpt Au, 17.36 gpt Ag and 2.70 % Cu) over 5.89 meters and 12.35 gpt AuEq (7.31 gpt Au, 23.11 gpt Ag and 3.58 % Cu) over 2.45 meters.

Drill hole BI-23-03 intersected 2.22 gpt AuEq (1.39 gpt Au, 4.06 gpt Ag and 0.58 % Cu) over 5.78 meters, including 2.56 gpt AuEq (1.66 gpt Au, 4.58 gpt Ag and 0.62 % Cu) over 4.73 meters and 10.67 gpt AuEq (6.77 gpt Au, 21.30 gpt Ag and 2.69 % Cu) over 0.92 meters.

Drill hole BI-23-04 intersected 4.23 gpt AuEq (2.52 gpt Au, 11.05 gpt Ag and 1.16 % Cu) over 10.12 meters, including 6.74 gpt AuEq (4.01 gpt Au, 17.37 gpt Ag and 1.85 % Cu) over 5.89 meters.

What immediately stands out from the maiden drill campaign is that all the holes hit gold mineralization. Plus, they hit very strong copper grades as well, which suggests they are likely close to the heat engine that caused the mineralization.

The next image includes core pictures that show they are tagging nice looking sulphides in hole 1 associated with the high-grade gold and copper. The other holes also have similar looking hits of sulphides that you can find on the company’s website.

 

 

In the image on the left below, you can see the drill collars in yellow with the black traces showing the directions they were drilled. The image on the right below, shows the 2024 planned drill hole collars in green with blue traces showing the directions they will be drilled.

 

The background is the LiDAR image, with the key Northeast Fault in black. Although the secondary faulting is not highlighted, I can see parallel and cross cutting faults. The primary and secondary faulting are important pathways for the mineralization from deeper to make its way closer to the surface.

 

Their geophysical work around the Main Bingo Zone reveals excellent data as well. There are two fold noses that are highlighted in black. Where they bend around are key locations for rock preparation that are good traps for mineralization.

 

What helped the geological team at Goliath Resources’ make the Surebet discovery was alteration zones which are similar to Juggernaut's Bingo discovery. When the mineralizing fluids come into contact with the country rocks, it chemically alters the country rocks. As can be seen in the images below.

The next image shows samples from both Goliath’s Surebet discovery and Juggernaut’s Bingo discovery. With descriptions of the geological similarities between these two discoveries.


In Closing

 

I started following Goliath Resources since their maiden drill campaign and watched them advance it to where it is now which is shaping up to be a potential tier 1 discovery in the prolific Golden Triangle.

Goliath Resources and Juggernaut Resources are sister companies that share the exploration camp and key geological people. Juggernaut has the adjacent ground to Goliath and benefits from Goliath giving them a blueprint for discovery and how to advance their Bingo project.

Whether I look at the drill core, sulphides, structures or geophysics, I see the geological hallmarks that are much the same as Goliath's Surebet discovery at Juggernaut’s Bingo discovery.

Next up for coverage is I will be doing an interview with Juggernaut’s CEO and one of their key geologists so we can dig deeper into their Bingo discovery prior to their drilling. Additionally, they have other great projects that I look forward to my audience learning more about in the upcoming interview.

Goliath Resources has a big and powerful mineralizing system at their Surebet discovery and so far it looks like Juggernaut Resources has the same potential on their Bingo discovery.

I’ve always appreciated that Goliath does an exemplary job of putting out news on a regular basis when they are drilling, with core photos and descriptions of what they are hitting. I think more exploration companies should do the same as it helps their investors stay informed and be part of the evolution of their discovery.

Juggernaut has many of the key geologists working for them as well as Goliath Resources, so I believe they will follow a similar path of updates while their Bingo discovery evolves. I’m looking forward to doing a series of interviews as they have news flow from their 2024 drilling campaign.

All the best,

Allan Barry Laboucan

Disclosure

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