Juggernaut Mobilizes to 100 % Controlled Gold Rich Midas Property Located in NW BC
04 August 2020 - 9:45PM
Juggernaut Exploration Ltd. (TSX V:JUGR) (OTCQB:JUGRF)
(FSE:4JE) (the “
Company“ or
“
Juggernaut”) is pleased to report mobilization of
the 2020 exploration program on Midas, where all 25 drill holes to
date have intersected gold and polymetallic mineralization. The
exploration team will focus on strong VHMS targets that remain to
be tested within the 2.1 x 1.6 km King Solomon Trend. The Midas
project is a rare opportunity with world-class potential as
demonstrated by support by institutions and interest from miners
alike.
The Midas property is host to the King Solomon
Trend located within a district scale 18 x 10 km alteration zone
that was mapped by the British Columbia Geological Survey as
correlative with the Stikine assemblage which is host to multiple,
significant VHMS deposits within British Columbia such as the Eskay
Creek, Tulsequah Chief, Anyox, and Granduc deposits.
Juggernaut’s Midas property drilling
highlights are:
- Diamond drill hole MD-18-08
intersected 6.85 g/t Au over 9.0 m between 35.0 and 44.0 meters
down hole.
- Drill hole MD-18-16 returned 0.21
g/t Au, 1.77 g/t Ag, and 0.32 %Zn from surface to 35.35 metres. The
hole collared into a sulphide-rich hydrothermal breccia that is
believed to be associated with a VHMS stringer zone.
- All 25-drill holes on Midas
intersected gold and polymetallic mineralization, further
confirming the strong potential for a significant feeder
source.
- 25% of the drill holes returned
significant intercepts of gold and polymetallic
mineralization.
- The British Columbia Geological
Survey (BCGS; McKeown et al.,2007) mapped a conformable sequence of
layered Paleozoic felsic to mafic subaqueous volcaniclastic rocks
and documented an extensive alteration zone, with the King Solomon
Trend at its core for at least 2.1 kilometers. Intense alteration
system with zones of widespread gossan development, silicification,
Fe-rich chloriticalteration, Na-Ca depletion, and
quartz-sericite-pyrite development.
- The Midas property covers 16,653
hectares, 100% option by Juggernaut, has logging road access on
property and is only 14 km to major power, CN rail, and roads with
another 10 km to Terrace, BC. The project is 45 km from Kitimat
deep-sea port.
Dan Stuart, Director, President and CEO
of Juggernaut states:
“The compilation of the 2019 and 2018 results
have vectored into strong targets that will be tested focused on
delineating drill targets. Eskay Creek VHMS discovery had over ~100
drill holes before the discovery was made. We look forward to
receiving the results from this summer’s program. Juggernaut has a
100% option providing the shareholders with the potential of
significant up-side for very little additional financial
expenditure. Midas is located in a world class geologic setting in
close proximity to both roads and extensive infrastructure.”
Other
All samples were crushed and pulverized at ALS
Global ISO 17025:2005 accredited geochemistry lab in North
Vancouver, BC. Drill core samples were crushed, split and
pulverized to 250 g pulp. The sample pulps were analyzed for gold
by fire assay method (Au-AA24) and were also assayed using
multi-element aqua regia digestion. Samples were analyzed using ALS
assay procedure ME-ICP41m and MS-ICP61m. ME-ICP is an aqua regia
(partial) digestion with inductively-coupled plasma (ICP) mass
atomic emission spectroscopy (ICP-AES) finish for 36 elements.
MS-ICP61m is a four acid digestion with ICP mass spectrometry
finish for 49 elements. Over-limit samples for copper, lead and
zinc were reanalyzed by fire assay with a gravimetric finish (OG46
and OG62). Rigorous procedures are in place regarding sample
collection, chain of custody and data entry. QA/QC samples
including blanks, standards, and duplicate samples were inserted
regularly into the sample sequence.
Qualified Person
Rein Turna 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.
For more information please
contact:
Juggernaut Exploration Ltd.
Dan Stuart
President and Chief Executive OfficerWebsite:
www.juggernautexploration.com
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