VANCOUVER, British Columbia, Aug. 03, 2021 (GLOBE NEWSWIRE) -- 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 Stuart
604-559-8028
President 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 ability to complete the contemplated private placement. Readers are cautioned not to place undue reliance on these statements. NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION TO PURCHASE ANY SECURITIES DESCRIBED IN IT.
