(TheNewswire)
Vancouver, British Columbia – TheNewswire - August 12, 2024 – Rackla Metals Inc. (TSX-V: RAK) (the “Company”) announces that it has completed the follow-up drill program at both the HIT and the Peak targets within the Astro Plutonic Complex (“APC”).
At HIT the aim of the follow-up program was to attempt to vector towards higher grades from the broad low grade sheeted vein zones intercepted in the 2023 program, testing the area to the SE and NW, and below 2023 holes HIT-003 and HIT-004. Unfortunately, the step out drilling returned much weaker sheeted veining in the intrusive core and while full results are not yet returned, further drilling is not justified on the target at this point. A photogrammetry survey and extensive surface sampling and mapping program have been completed this year. The results of this work will be combined with the airborne geophysics flown in 2023 to define further targets at HIT.
The Company also drill tested a new target at Peak, where sediment hosted veins overlie the Kelvin Stock granite. Sheeted veining at surface within the sedimentary rocks had returned grades up to 17 g/t Au in Quartz/As/Bi veins with many multi-gram samples. The aim of the drill program at Peak was to test the sheeted vein zone down dip below the sediments and within the intrusive. The veins defused at the sedimentary/Intrusive contact into weak-stock working with sub-economic gold values.
Work continues at the Cirque target in the Kelvin stock, where follow-up work from 2023 anomalous gold in talus fines has discovered a stockwork of flat lying and vertical quartz/tourmaline/arsenopyrite veins in the western margins of the stock. Results from this sampling are pending.
The Rackla team is also carrying out an extensive soil sampling and prospecting program on its Black and Flat properties in the southeastern Tombstone Gold Belt surrounding the Cantung deposit.
Rackla has added new concessions to its portfolio by staking the Grad Property 60 km southeast of the APC. The minimal prospecting done on these claims has already identified intrusion-hosted multiphase veining. More geochemical sampling and prospecting on Grad will be carried out in the coming weeks to advance this exciting new property.
Qualified Person
Scott Casselman, B.Sc., P.Geo., Vice-President Exploration of the Company, is a member of the Association of Professional Engineers and Geoscientists of British Columbia and is the Company’s Qualified Person as defined by National Instrument 43-101. Mr. Casselman has reviewed and approved the technical information contained in this news release.
About Rackla
Rackla Metals Inc. (TSX-V: RAK) is a Vancouver, Canada based junior gold exploration company. The Company is targeting Reduced Intrusion-Related Gold Systems (RIRGS) mineralization on the southeastern part of the Tombstone Gold Belt in eastern Yukon and western Northwest Territories. Management believes that this area, which is underexplored for RIRGS deposit types, has the potential to be the next frontier for their discovery.
ON BEHALF OF THE BOARD
Simon Ridgway,
CEO and Director
Tel: (604) 801-5432; Fax: (604) 662-8829
Email: info@goldgroup.com
Website: www.racklametals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward- looking statements and include, without limitation, the Company’s future exploration activities; and general business and economic conditions. Often, but not always, these forward looking statements can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company’s stated goals and planned exploration activities at its properties will be achieved; that there will be no material adverse change affecting the Company, its properties or its securities; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
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