| Vancouver, British Columbia – June 25th, 2024 – Juggernaut Exploration Ltd (JUGR.V) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) is pleased to report mobilization for the 2024 drilling season on its 100% controlled Midas and Bingo properties. The company has a total of 6,000 meters of drilling planned for the two properties in a world-class geologic terrane. Drilling includes expansion along strike and to the depth of known mineralization at the high-grade gold-silver-copper shear hosted vein at Bingo, as well as testing the strong Eskay-style Volcanogenic Hosted Massive Sulphide (VHMS) anomaly identified at the Kokomo showing on the Midas property.
Dan Stuart, President and CEO of Juggernaut Exploration, states, “We are excited to resume drilling on both of our 100% controlled Bingo and Midas properties after the successful inaugural drill programs carried out in 2023. We designed a comprehensive drill plan that will allow us to expand the high-grade gold-silver-copper mineralization at Bingo along strike and depth, as well as drill test what we believe is the most compelling VHMS target identified on the Midas property to date. In addition, we look forward to the new discoveries made by the B-ALL syndicate, in which we are one of the largest investors.”
BINGO PROPERTY
Bingo Property Highlights: - The program on the Bingo property will consist of up to 3000 meters of drilling (from 6 pads and 12 holes) designed to expand the known high-grade gold-silver-copper mineralization along strike and to depth on the Bingo Main Zone, as well as testing additional shear zones at depth. View Bingo Drilling Maps
- Mapping and prospecting on the property, including the Double Down Hinge Zone highlighted by an airborne magnetic survey, will be carried out in preparation for future drilling. 2023 Bingo Doubledown
- High-grade gold-silver-copper mineralization has been intersected in multiple inaugural test drill holes in 2023 collared from within the Bingo Main Zone along a north-trending, west-dipping, shear hosted vein within a 550 meters by 350 meters precious metal-rich mineralized corridor that remains open. Bingo 3D Schematic
- Results from the 2023 inaugural drill campaign intersected up to 11.42 gpt AuEq (7.57 gpt Au, 20.23 gpt Ag, and 2.72 % Cu) over 5.11 meters.
- The broad sulphide-rich mineralized vein consists of semi-massive aggregates and stockwork of chalcopyrite (up to 10 %) and pyrrhotite (up to 10 %), with minor pyrite and galena, part of a shear-hosted vein within a strongly altered diorite unit that remains open to the north, south and to depth.
- The maiden drill program of 2023 on this discovery confirmed strong gold-silver-copper mineralization on the Bingo Main outcrop to a depth of 40 meters that remains open, leaving over 90% of the known mineralized corridor untested.
The program on the Bingo property will consist of up to 3000 meters of drilling designed to expand the known high-grade gold-silver-copper mineralization along strike and to depth on the Bingo Main Zone and test additional shear zones at depth. Mapping and prospecting on the property, including the Double Down Hinge Zone highlighted by an airborne magnetic survey, will be carried out in preparation for future drilling. Results from the 2023 drill season include 4 holes collared from Pad 1 located in the northern part of the Bingo Main Zone which intersected broad sulphide-rich mineralized horizon consisting of semi-massive aggregates and stockwork of chalcopyrite (up to 10 %) and pyrrhotite (up to 10 %), with minor pyrite and galena, that are part of a shear hosted vein within a strongly altered diorite unit that remains open to the north, south and to depth. 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-23-04 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. 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. Bingo 3D Schematic The mineralized shear hosted vein was intersected in a narrow copper-rich interval from a drill hole in the southern part of the Bingo Main Zone 200 m south of Pad 1 from 2023, where a surface grab sample assayed 9.79 gpt Au. Drilling in this area in 2024 is designed to fully test the southern extent of the mineralized corridor. Mapping and drilling have shown that the mineralized vein pinches and swells and is parallel to the axial plane of a moderate size fold identified in the magnetic signature of the Bingo Main Zone. The 2023 drill program has helped better understand the geometry of the mineralized vein which is steeply dipping on surface and rotates to 45 degrees to the west at deeper levels. The 2024 drill program is designed to expand on the depth and strike extent of the high-grade gold-silver-copper mineralization in the northern part of the Bingo Main Zone where a step-out pad will allow to test the vein at depth and extend its strike along the trend where numerous surface samples assayed multi-gram gold. Additional drill locations on trend with the mineralized vein both to the north and to the south will help determine the extent of the mineralization along strike. View Bingo Drilling Maps A secondary vein was discovered in outcrop 400 m to the northeast of Pad 1 where two grab samples assayed 7.39 gpt Au and 5.93 gpt Au, respectively. The outcrop is partially covered by overburden, but structural investigations indicate a similar orientation to the main mineralized vein. Both samples collected from this outcrop consist of strongly altered, crackled intrusive with up to 5 % chalcopyrite and 10 % pyrite. This showing will be drill tested with multiple drill holes during the 2024 drill season. A third vein is outcropping 250 m southeast of Pad 1. A grab sample that assayed 1.11 gpt Au collected from this vein consists of a metamorphosed, strongly altered intrusive rock with 5 % pyrite and 1 % chalcopyrite. A number of drill holes have been designed to test this showing in 2024. Deeper drill holes designed to test the contact between a close-by intrusion and the surrounding rocks are also planned for the 2024 drill season. Recently, a new fold located 1 kilometer to the north of the Bingo Main Zone named the Double Down Hinge Zone has been identified in an airborne magnetic survey. This fold shows the same orientation and characteristics as the fold observed at the Bingo Main Zone. A fault separates the two folds potentially indicating that the two structures are in fact the same fold that has been displaced, in which case gold-silver-copper mineralization is projected to be found in the Double Down Hinge Zone as well. Detailed mapping and prospecting on the property will focus on identifying the relationship between the Double Down Hinge Zone and the Bingo Main Zone, as well as understanding the controls on mineralization at the contact between metamorphosed sediments and the intrusion to the West, and the volcanic units to the East. 2023 Bingo Doubledown Highlights from the high-grade gold Bingo property: - The Bingo Main zone is part of a 550 meters by 350 meters mineralized corridor that remains open with high-grade gold drill samples (11.42 gpt AuEq over 5.11 meters) and surface samples (up to 13.4 gpt Au) located along the axial plane of a fold hinge.
- Bingo is located in the Eskay Rift in an evolving gold district in a world-class geologic setting within the Golden Triangle of British Columbia, host to several multi-million-ounce gold deposits confirming the untapped discovery potential that remains while vast areas of newly exposed bedrock are exposed due to recent snowpack and glacial abatement.
- Bingo comprises the same world-class geological units as Goliath Resource's Surebet discovery located 15 km to the West, including Hazelton Volcanics and related sediments and intrusive rocks, as well as the same style of mineralization of pyrrhotite, chalcopyrite, and galena, hosted in a similarly oriented west dipping shear zone.
- Gold mineralization in drill samples (4 out of 7 holes intersected significant high-grade gold mineralization) and surface outcrops (83 % of surface samples collected contained gold mineralization), stream sediment geochemistry, ground magnetic survey, soil sampling, and other lines of evidence confirm strong gold-mineralization potential on the property.
- Mineralization is characterized by aggregates and stockwork of chalcopyrite, pyrrhotite, galena, and pyrite from a shear-hosted vein along which gold-silver-copper rich fluids intruded and altered the host rock.
- Recently, a new fold located 1 kilometer to the north of the Bingo Main Zone, named the Double Down Hinge Zone, has been mapped. This fold shows the same orientation and characteristics as the fold observed at the Bingo Main Zone. A fault separates the two folds, potentially indicating that the two structures are, in fact, the same fold that has been displaced, in which case gold-silver-copper mineralization is projected to be found in the Double Down Hinge Zone as well.
- The Bingo property is located in a fertile area in the southern part of the Golden Triangle, surrounded by a number of known deposits, including Anyox, Surebet, Dolly Varden, Porter Idaho, Premier, and more.
- Infrastructure includes direct access to tidewater in close proximity to roads and high-tension power.
The Bingo property has an area of 989 hectares and is located 45 km SSW of Stewart, BC and 28 km W of Kitsault, and only 12 km to tidewater landing and roads in the historic mining town of Anyox, providing for cost-effective exploration. The Bingo Main Zone contains gold mineralized grab, chip, and channel samples along the axial plane of a fold hinge over an area of 550 meters x 175 meters in a region of recent glacial retreat and permanent snowpack abatement located within the Eskay Rift region of the Golden Triangle, British Columbia. High-grade gold from surface grab samples assayed up to 9.79 gpt Au. Channel samples assayed up to 1.77 gpt Au and 0.20 % Cu over 4.85 meters and 1.48 gpt Au and 0.37 % Cu over 3.2 meters, respectively. The Bingo property has strong similarities to Goliath Resources’ Surebet Project, located further to the east, including the same mineralogy, textures, and structures.
MIDAS PROPERTY
Midas Property Highlights - The program on the Midas property will consist of up to 3000 meters of drilling (from 6 pads and 15 drill holes) designed to test the most compelling Volcanogenic Hosted Massive Sulphide (VHMS) target identified on the property to date at the Kokomo showing. 2023 Midas Drilling Map Comp
- Highlights of the Midas property include the discovery of the gold-silver-copper-zinc rich Kokomo showing (9.343 gpt Au, 117 gpt Ag, 1.58 % Cu, and 1.77 % Zn), drill hole MD-19-18 (6.22 m of 0.31 gpt Au, 0.95 m of 1.50 gpt Au with 1.94 % Cu and 3.22 m of 0.36 gpt Au) and the VG Zone (2.24 gpt Au, 6.83 gpt Ag, 0.18 % Cu and 1.04 % Zn over 4.80 meters). View VHMS
- Extensive broad copper-zinc-gold rich intervals consisting of considerable chalcopyrite and pyrite in aggregates, stringers, and veinlets have been intersected in multiple drill holes from 2023 collared from an area encompassing the VG Zone and Kokomo showing consistent with an Eskay-style VHMS system.
- Results from the 2023 drill campaign intersected up to 1.56 gpt AuEq (0.35 gpt Au, 6.10 gpt Ag, 0.64 % Cu, and 0.67 % Zn) over 5.00 meters.
- The mineralized horizons consist of aggregates, stringers, and veinlets of chalcopyrite (up to 10 %), sphalerite (up to 5 %), and pyrite (up to 15 %) in a strongly quartz-sericite-altered volcanic host rock consistent with being in close proximity to an Eskay-style VHMS deposit.
- The 2023 drill results, in combination with results from previous years, indicate an extensive north-south gold-copper-zinc rich mineralized trend that remains open, extending for 550 m on strike with a large relatively shallow Induced Polarization (IP) chargeability and resistivity anomaly. The gold and base metals component clearly increases towards the Kokomo showing, strongly indicating proximity to the heart of a VHMS deposit. 3D IP inversion map
The program on the Midas property will consist of up to 3000 meters of drilling designed to test the most compelling Volcanogenic Hosted Massive Sulphide (VHMS) target identified on the property to date at the Kokomo showing. 2023 Midas Drilling Map Comp All three holes collared from Eskay 1 Pad in 2023, located at the transition from the VG Zone to the Kokomo Zone, have intersected considerable gold-copper-zinc mineralization and are characterized by copious amounts of chalcopyrite and pyrite in aggregates, stringers,, and veinlets within a strongly altered volcanic host rock indicating close proximity to an Eskay-style VHMS deposit. Drill hole MD-23-34 intersected 1.56 gpt AuEq (0.35 gpt Au, 6.10 gpt Ag, 0.64 % Cu, and 0.67 % Zn) over 5.00 meters within 0.68 gpt AuEq (0.22 gpt Au, 2.73 gpt Ag, 0.20 % Cu, and 0.38 % Zn) over 22.00 meters. Additional intervals in this hole include 0.70 gpt AuEq (0.24 gpt Au, 2.93 gpt Ag, 0.64 % Cu, and 0.70 % Zn) over 10 meters and 0.54 gpt AuEq (0.18 gpt Au, 1.70 gpt Ag, 0.09 % Cu, and 0.53 % Zn) over 8.00 m. Drill hole MD-23-35 intersected 0.53 gpt AuEq (0.18 gpt Au, 1.64 gpt Ag, 0.11 % Cu, and 0.47 % Zn) over 20.00 meters, including 1.41 gpt AuEq (0.38 gpt Au, 3.62 gpt Ag, 0.32 % Cu, and 1.40 % Zn) over 3.00 meters and 1.07 gpt AuEq (0.39 gpt Au, 2.48 gpt Ag, 0.28 % Cu, and 0.69 % Zn) over 3.00 meters. Drill hole MD-23-36 intersected 1.76 gpt AuEq (0.79 gpt Au, 16.60 gpt Ag, 0.58 % Cu) over 1.00 meter, within 0.45 gpt AuEq (0.19 gpt Au, 4.30 gpt Ag, 0.15 % Cu) over 6.00 meters. An additional interval in this hole assayed 0.29 gpt AuEq (0.16 gpt Au, 1.69 gpt Ag, 0.14 % Zn) over 32 meters. The 2023 drill results, in combination with results from previous years, indicate an extensive north-south gold-copper-zinc rich mineralized trend that remains open, extending for 550 m by 300 m from Eskay 1 Pad to the Kokomo showing on strike with a large relatively shallow Induced Polarization (IP) chargeability and resistivity anomaly. The gold and base metals components clearly increased towards the Kokomo, showing strong proximity to the heart of a VHMS deposit. View VHMS Based on the new results from the 2023 drill program and a thorough compilation of data from previous drill campaigns and exploration programs on the Property, including geochemistry, geophysics, and mapping, that have allowed to vector-in and strongly point to the heart of the VHMS system, a drill plan designed to outline the full VHMS potential of the 550 m by 300 m north-south trend between the Eskay 1 Pad and the Kokomo showing has been prepared. The drilling is designed to specifically target the 550 m by 300 m area between the Eskay 1 Pad and the Kokomo, showing that it is strongly indicated to contain the heart of the gold-rich VHMS system. The Kokomo showing consists of a VHMS style outcrop where a 1 m chip sample assayed 9.343 gpt Au, 117 gpt Ag, 1.58 % Cu, and 1.77 % Zn. The outcrop is 5 m wide and strikes on surface for 30 m and remains open and is underlain by an extensive strong 550 m long Induced Polarization (IP) chargeability and resistivity anomaly that remains open, conducive for semi-massive to massive sulphides like those confirmed on surface on the Kokomo showing. Highlights from the Midas Eskay-Style Kokomo VHMS target - The 3D inversion of the 2018 Induced Polarization (IP) data performed by an independent geophysical company highlighted a 120 m by 150 m chargeability anomaly and a 350 m by 200 m resistivity anomaly from surface to 200 m depth that remains open to the South and East conducive for semi-massive to massive sulphides like those confirmed on surface at Kokomo. 3D IP inversion map
- Kokomo is an Eskay-style VHMS showing with a 1 m chip sample assaying 9.343 gpt Au, 117 gpt Ag, 1.58 % Cu and 1.77 % Zn. The outcrop remains open in all directions where outcrops of the same or similar lithology extend over several hundred meters.
- A BLEG (Bulk Leach Extractable Gold) sample collected 700 m down-slope in the drainage of the Kokomo showing assayed 29 ppb Au, 613 ppb Ag, 137 ppm Cu, 54.4 ppm Pb and 462 ppm Zn, by far the highest sample recorded on the property and is coincident with a similar geochemical signature as the Kokomo showing.
- Two outcrop grab samples collected within 50 m of the Kokomo showing in 2017 and 2018 assayed 1.835 gpt Au (with 34.4 gpt Ag, 0.84 % Cu, 0.03 % Pb and 0.79 % Zn) and 2.29 gpt Au (with 21.3 gpt Ag, 0.01 gpt Cu, 0.00 % Pb and 0.02 % Zn).
- The host rock to the Kokomo showing has been mapped by Juggernaut former senior geologist S. Roach as well as the British Columbia Geological Survey (BCGS; M. McKeown, J. Nelson and R. Friedman, 2007) as a rhyolitic tuff with strong phyllic alteration (quartz-sericite-pyrite) from the Mt Attree volcanics, a unit highly prospective for VHMS deposits.
- In 2019, hole MD-19-24 collared 300 m Southwest of the Kokomo showing with an azimuth of 090 and a dip of 50 intersected the fringes of the chargeability and resistivity anomalies highlighted by the recent 3D inversion of the IP data containing disseminated sulphide mineralization (mainly pyrite and minor sphalerite) in the bottom half of the hole assaying up to 0.293 gpt Au and 2.8 % Zn closest to the Kokomo discovery outcrop. (See news release September 30, 2019)
- The geology, geochemistry, alteration, and extensive underlying geophysical anomaly coupled with the high-grade polymetallic Au, Ag, Cu and Zn mineralization in semi-massive to massive sulphides seen in outcrop at Kokomo strongly indicates the potential of a new Eskay-style VHMS discovery.
The Midas property is 100% controlled and covers 20,803 hectares and is located 24 km southeast of Terrace, British Columbia in close proximity to logging access roads, power, railway and major infrastructure. The property is located in an area of recent glacial abatement and permanent snowpack recession at the southern end of the Golden Triangle, British Columbia. Multiple high-grade gold grab, chips and channel samples were collected from the Kokomo VHMS target where a 1.00 m chip sample assayed 9.343 gpt Au, 117 gpt Ag, 1.58 % Cu and 1.77 % Zn and is drill ready. Relatively shallow Induced Polarization (IP) chargeability and resistivity anomalies extend under the Kokomo showing on trend to the south for at least 550 m towards the Eskay 1 Pad, conducive for a buried VHMS containing semi-massive to massive sulphides at depth. Channel samples highlights from the VG Zone include 10.28 gpt Au over 4.34 meters; 15.37 gpt Au over 2 meters; and 5.43 gpt Au over 3.11 meters. Historic drill results from the Midas property include hole MD-18-16 which intersected the peripheral zone of the IP anomaly core and returned 0.56 g/t AuEq over 35.35 meters; hole MD-18-08, which assayed 6.85 gpt Au over 9 meters and narrowly missed a strong IP chargeability anomaly; and hole MD-18-01 which intersected 3.27 gpt AuEq over 4.80 meters and ended before it reached the core of a strong IP chargeability anomaly. 3D IP inversion map B-ALL SYNDICATE A large-scale exploration and prospecting program has been prepared in conjunction with the B-ALL Syndicate with the goal of discovering new potential deposits in an area of recent glacial abatement and permanent snow pack recession in Northwest British Columbia located between Stewart and the Yukon border. The team generated over 300 exploration targets and staked 97 properties that will be prospected and mapped during the summer. Target generation included the compilation and inspection of numerous datasets, including maps, geophysical surveys, air photos, geochemical data, MINFILE investigations, and advanced computer-aided data analysis. Juggernaut Exploration is one the largest investors in the B-ALL Syndicate and is responsible for press release results for all the material discoveries of this exploration program once the results are received, compiled, and interpreted. These B-ALL Syndicate results are anticipated after the results from 6000 meters of drilling on Bingo and Midas are released, providing ongoing news from over 300 exploration targets. Engagement of Marketing Consultant Rocks And Stocks News ("R&S") is a private entity owned and operated by Allan Barry Laboucan. He is based in Mexico, operating an online portal for precious metals and mining stocks. R&S discusses Juggernaut’s news releases along with comments and/or opinions on its YouTube channel. The sponsorship agreement extends for 6 months for a total of C$18,000 that expires on December 14th, 2024. Mr. Laboucan did not receive shares or options as compensation. At the time of the agreement, R&S and the Company were unrelated and unaffiliated entities. No buying or selling recommendations are made, no price projections on Juggernaut are given, and no financial advice is given. Mr. Laboucan does not own shares of Juggernaut Exploration Ltd. 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 Oriented NQ-diameter diamond drill core from the drill campaign is placed in core boxes by the drill crew contracted by the Company. Core boxes are transported by helicopter to the staging area, and then transported by truck to the core shack. The core is then re-orientated, meterage blocks are checked, meter marks are labelled, Recovery and RQD measurements taken, and primary bedding and secondary structural features including veins, dykes, cleavage, and shears are noted and measured. The core is then described and transcribed in MX Deposit. Drill holes were planned using Leapfrog Geo and QGIS software and data from the 2017-2022 exploration campaigns. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration are sampled in lengths of 0.5 to 1.5 meters. Core samples are cut lengthwise in half, one-half remains in the box and the other half is inserted in a clean plastic bag with a sample tag. Standards, blanks and duplicates were added in the sample stream at a rate of 10% Grab, channels, chip and talus samples were collected by foot with helicopter assistance. Prospective areas included, but were not limited to, proximity to MINFile locations, placer creek occurrences, regional soil anomalies, and potential gossans based on high-resolution satellite imagery. The rock grab and chip samples were extracted using a rock hammer, or hammer and chisel to expose fresh surfaces and to liberate a sample of anywhere between 0.5 to 5.0 kilograms. All sample sites were flagged with biodegradable flagging tape and marked with the sample number. All sample sites were recorded using hand-held GPS units (accuracy 3-10 meters) and sample ID, easting, northing, elevation, type of sample (outcrop, subcrop, float, talus, chip, grab, etc.) and a description of the rock were recorded on all-weather paper. Samples were then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples including blanks, standards, and duplicate samples were inserted regularly into the sample sequence at a rate of 10%. All samples, including core, rock grabs, channels, and talus samples, are transported in rice bags sealed with numbered security tags. A transport company takes them from the core shack to the ALS labs facilities in North Vancouver. ALS is either certified to ISO 9001:2008 or accredited to ISO 17025:2005 in all of its locations. At ALS samples were processed, dried, crushed, and pulverized before analysis using the ME-MS61 and Au-SCR21 methods. For the ME-MS61 method, a prepared sample is digested with perchloric, nitric, hydrofluoric and hydrochloric acids. The residue is topped up with dilute hydrochloric acid and analyzed by inductively coupled plasma atomic emission spectrometry. Overlimits were re-analyzed using the ME-OG62 and Ag-GRA21 methods (gravimetric finish). For Au-SCR21 a large volume of sample is needed (typically 1-3kg). The sample is crushed and screened (usually to -106 micron) to separate coarse gold particles from fine material. After screening, two aliquots of the fine fraction are analysed using the traditional fire assay method. The fine fraction is expected to be reasonably homogenous and well represented by the duplicate analyses. The entire coarse fraction is assayed to determine the contribution of the coarse gold. Some of the reported data is historical in nature and is a compilation of third-party data from previous operators. 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. In addition, the reader is cautioned that proximity to known mineralization does not guarantee similar mineralization will exist on the properties. For more information, please contact: Juggernaut Exploration Ltd. Dan Stuart President and Chief Executive Officer Tel: (604)-559-8028 www.juggernautexploration.com |