Juggernaut Options Large-Scale Copper-Gold Deposit Targets and Forms Exploration Alliance With Hunter Dickinson Inc.
13 November 2019 - 11:45PM
Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF)
(FSE: 4JE) (the
“Company” or
“Juggernaut”) is pleased to report that, subject
to TSX approval, it has entered into two earn-in option agreements
to fund inaugural drill programs on each of the large-scale MACK
and JAKE porphyry copper-gold-molybdenum deposit targets located in
the Golden Triangle and north central regions of British Columbia,
respectively.
The two projects are currently owned 100% by
United Mineral Services Ltd., a Hunter Dickinson Inc (“HDI”)
affiliated company. Juggernaut and HDI are cooperating to commence
an exploration alliance and the Hunter Dickinson team will operate
the two projects.
HDI is a diversified, global mining group with
more than 30 years of mineral development success. HDI sources
mineral assets with significant potential and has strong technical
and management experience to successfully advance those projects.
Previous and current HDI porphyry deposit discoveries and
developments include some of BC’s and the world’s most important
mineral resources – such as Pebble, Mount Milligan, Kemess South,
Kemess North, Gibraltar, Prosperity, Xietongmen, Newtongmen,
Florence, Sisson, Maggie and IKE.
Bob Dickinson, Chairman of HDI
states: “This new exploration alliance with Juggernaut
paves the way to drill test for the first time, the important-scale
porphyry copper-gold-molybdenum mineral systems located on the MACK
and JAKE properties. These exciting deposit targets are drill
ready. Both the HDI and Juggernaut groups are aligned and focused
to make a major mineral deposit discovery together.”
JAKE Earn-in Option Agreement
Highlights:(link to Jake
presentation)
- Year one: Fund up to $400,000 to complete 600 meters of core
drilling by October 31st, 2020.
- Year two: Fund up to $600,000 to complete 1,400 meters of core
drilling by October 31st, 2021.
- Once either a total of 2,000m have
been drilled or $1m spent on exploration, Juggernaut will have
earned a 50% interest in the JAKE property and the parties will
enter a 50:50 working interest joint venture to partner the further
development of the project. There is no ongoing minimum cash,
stock, exploration commitments or NSR payments payable by
Juggernaut.
MACK Earn-in Option Agreement
Highlights:(link to Mack
presentation)
- Year one: Fund up to $500,000 to complete 1,000 meters of core
drilling by October 31st, 2020.
- Year two: Fund up to $500,000 to complete 1,000 meters of core
drilling by October 31st, 2021.
- Once either a total of 2,000m have
been drilled or $1m spent on exploration Juggernaut will have
earned a 50% interest in the MACK property the parties will enter a
50:50 working interest joint venture to partner the further
development of the project. There is no ongoing minimum cash,
stock, exploration commitments or NSR payments payable by
Juggernaut.
Dan Stuart, Director, President and
CEO of Juggernaut states: “We are very pleased to announce
this newly formed partnership with the HDI group that has a
longstanding track record of success for discovery and development
globally. Bob Dickinson an inductee into the Canadian Mining Hall
of Fame co-founded the HDI team that has helped birth many
successful Canadian mining companies, including Taseko Mines,
Detour Gold and the original Continental Gold (acquired by Placer
Dome) to name a few. Having the opportunity to acquire a
significant interest in these exciting projects coupled with a
partnership alliance with a group of this caliber is certain to
unlock shareholder wealth. We look forward to the inaugural drill
programs on the very compelling JAKE and MACK porphyry targets that
are well poised for significant discoveries.”
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
For more information, please
contact:
Juggernaut Exploration Ltd.Dan
Stuart604-559-8028President and Chief Executive
OfficerWebsite: www.juggernautexploration.com
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REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
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THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD LOOKING
STATEMENTCertain 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
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CONSTITUTE AN OFFER TO SELL OR AN INVITATION TO PURCHASE ANY
SECURITIES DESCRIBED IN IT.
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