(TheNewswire)
Vancouver, British Columbia – TheNewswire - September 10, 2024 – Rackla Metals Inc. (TSX-V: RAK) (the “Company”) is pleased to announce the results from continuous chip-channel sampling at the Grad Property in the Northwest Territories (NWT). The channel sampling program was initiated to follow-up on the discovery of Reduced Intrusion-Related Gold System (RIRGS) style mineralization discovered late this summer that returned 92.4 g/t Au in a grab sample while staking the property (see August 28, 2024 press release).
Following the receipt of the high-grade Au/Bi/Te results, the Company mobilized a small crew to evaluate the area of the outcrop, now called the BiTe showing. The channel was oriented perpendicular to the prominent quartz-tourmaline-sulphide vein orientation, and returned 38 m at an average grade of 1.797 g/t gold. The zone is open at both ends. The southwestern end of the channel started at the talus interface, while at the northeast end the final 6 meters returned 5.3 g/t Au.
The BiTe showing was named for the significantly anomalous bismuth and tellurium in samples collected during the discovery of the showing. These elements returned overlimit values and assays are being undertaken to determine the absolute values. Bismuth and tellurium are key indicators of RIRGS systems.
The property is in the easternTombstone Gold Belt in the NWT and is centered on a Mid-Cretaceous, Mayo Suite, granitic stock that measures 1.8 by 1 km with a sizable, intensely altered, contact aureole expressed as hornfelsed and iron-stained gossanous Earn Group sediments.
Following the discovery, the Company expanded the property to 5,525 hectares with the addition of 3 new claims (now totaling 5 claims). The Company has also undertaken an airborne geophysical survey, a photogrammetry survey and further prospecting and rock sampling. The results from this additional work are expected in the coming weeks.
CEO Simon Ridgway stated, “We are very excited with how rapidly this property is developing. Prospecting further up the cliff face has revealed several other areas of intense quartz tourmaline veining. This property will need a significant program in the 2025 season.”
Figure 1 - BiTe showing chip-channel sample results
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Figure 2 - Photo of the BiTe showing, southwestern 16 m of 38 m section showing quartz tourmaline veining
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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 the discovery of these large gold systems.
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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