Juggernaut Recevies TSX Approval on Goldstar Property
11 September 2020 - 9:45PM
Juggernaut Exploration Ltd. (TSX-V: JUGR)
(OTCQB: JUGRF) (FSE: 4JE) (the
“Company” or
“Juggernaut”) is
pleased to report it has received TSX approval to earn a 100%
interest in the Goldstar property announced July 7th 2020 (Link to
July 7th News) containing 238 hectares located in West Central BC
in close proximity to infrastructure and the Goldstandard property
providing for cost effective exploration. Shareholder approval for
the issuance of greater than 10% of the issued and outstanding
shares to the DSM Syndicate collectively will be sought at the
Company’s AGM in December.
The Goldstar property
Goldilocks Zone has provided excellent results to date containing
assays of 7.86g/t AuEq over 3.75m true width. This channel was
taken in 2019 over a 3.75m wide section to partially test a 10.5m
wide outcrop containing extensive veining and alteration, the
channel started in 9.01 g/t AuEq and ended in 10.79 g/t AuEq and
remains open. The Goldilocks Zone discovered in 2018 is 190m long
by 20 meters wide and extends for 160 m vertical relief and remains
open. It is located 500 m north of the Yellow Brick Road Gold Zone,
and remains open. The Yellow Brick Road Zone was discovered in
2017, mapped for 170 meters and remains open. Channel samples
assayed up to 24.55 grams per tonne gold equivalent over 0.3 meters
(20.6 g/t Au, 329 g/t Ag, 0.02 % Pb DSM Oct 30th 2018). These two
high grade gold zones are in an under-explored region of extensive
glacial and snow pack recession providing vast areas of newly
exposed bedrock with excellent potential for additional gold
discoveries. (Property Map with highlights)
Property Highlights
Include:
- Goldilocks Zone Drill
Ready° Goldilocks Zone is demarked by
multiple outcrops that daylight in glacial talus containing
high-grade gold and polymetallic mineralization with grab samples
assaying up to 40 g/t AuEq. The zone is defined by veining and
altered host rock over an area of 190m by 20m and 160m vertical
relief that remains open. To date 84% of samples
taken assayed greater than 1.0 g/t gold confirming the continuity
of the widespread gold mineralization.
(Link to
image)° 2019 Channel Cut
within the Goldilocks zone consisted of a 3.75m
cut to partially test a 10.5m wide section of exposed outcrop.
Assays returned 7.86 g/t AuEq over 3.75m true width. This channel
started in 9.01 g/t AuEq and ended in 10.79 g/t AuEq leaving the
zone open. This zone also contains gold mineralization confirmed in
the host rock (pyritic chlorite schist) that assayed 1.13 g/t AuEq
over a 1-meter interval within the 3.75-meter channel
(Link to new 2019 Video)
- Yellow Brick Road Zone
Drill Ready° Located 500
meters south of Goldilocks, the Yellow Brick Road Zone has been
traced for 170 meters, and remains open (link to
2018 video)° Channel samples
over 0.3 metre assay up to 28.7 g/t Au, 410 g/t Ag, 1.4 % Cu, and 6
% Pb (link to image)° The Yellow Brick Road
Zone contains pyrite-chalcopyrite-galena bearing, vuggy quartz
veins that are up to 1 meter wide with chip samples up to 24.55
AuEq over 1 meter (20.6 g/t Au, 329 g/t Ag, 0.02 % Pb) and with
grab samples assaying up to 55.80 g/t Au and 2340 g/t Ag. The veins
are encompassed by a pyritic and quartz-sericite-pyrite alteration
envelope that is up to 30 cm wide.
The high-grade gold and silver
mineralization confirmed on surface at these two discovery zones
located 500 meters apart coupled with multiple other newly
discovered gold mineralized outcrops in the surrounding area
provides strong drill targets to test for a large common gold
mineralizing system at depth. Drilling is recommended to outline
the full extent of the surface gold mineralization both along
strike and to depth. (link to map)
Host rock is variably altered with zones
of pervasive chloritization, oxidized pyritization, and local clay
alteration that contain gold and sliver mineralization. The Yellow
Brick Road Zone is pyrite-chalcopyrite-galena bearing, vuggy quartz
veins are up to 1 meter wide with an encompassing pyritic and
quartz-sericite-pyrite alteration envelope that is up to 30 cm
wide. Off-shoot veinlets form local breccia and stock work in the
altered wall rock. Sulphides occur as coarse seams and
dissemination within quartz vein material.
Table 1: Goldilocks Zone Channel Results
2019
3AuEq metal values are calculated
using: Au $1574.05/oz, Ag $17.78/oz, Cu $2.56/lb, Pb $0.97/Ib
Prices on February 11th 2020
Table 2: Goldstar Property Highlights from 2017 and 2018
(DSM Oct 30th 2018)
Sample # |
Zone |
Channel/Chip/Grab1 |
Length(metres) |
Gold(g/t) |
Silver(g/t) |
Copper% |
Lead% |
GoldEq3(g/t) |
W496968 |
Yellow Brick Road |
Grab |
|
29.60 |
845.00 |
0.30 |
0.55 |
40.47 |
W497407 |
Yellow Brick Road |
Channel |
0.30 |
28.70 |
410.00 |
1.40 |
6.00 |
38.88 |
W496863 |
Goldilocks |
Chip |
1.00 |
20.60 |
329.00 |
0.00 |
0.02 |
24.55 |
W496860 |
Goldilocks |
Grab |
|
11.70 |
313.00 |
0.09 |
0.03 |
15.60 |
W497406 |
Yellow Brick Road |
Channel |
0.30 |
11.10 |
260.00 |
1.97 |
1.28 |
18.00 |
W496862 |
Goldilocks |
Chip |
1.50 |
9.34 |
353.00 |
0.05 |
0.02 |
13.65 |
W496970 |
Yellow Brick Road |
float |
|
6.82 |
141.00 |
0.54 |
0.05 |
9.40 |
W496969 |
Yellow Brick Road |
Grab |
|
5.33 |
113.00 |
0.20 |
0.52 |
7.27 |
W386012 |
Yellow Brick Road |
Grab |
|
4.90 |
74.10 |
0.05 |
0.46 |
6.10 |
W496920 |
Goldilocks |
Chip |
1.00 |
4.28 |
133.00 |
0.00 |
0.00 |
5.87 |
W497408 |
Yellow Brick Road |
Channel |
0.27 |
3.91 |
89.40 |
0.05 |
0.05 |
5.08 |
W496922 |
Goldilocks |
Grab |
|
2.99 |
761.00 |
0.96 |
0.42 |
13.84 |
W496861 |
Goldilocks |
Grab |
|
2.65 |
52.00 |
0.00 |
0.03 |
3.29 |
W496865 |
Goldilocks |
Grab |
|
2.55 |
44.30 |
0.01 |
0.02 |
3.11 |
W496971 |
Yellow Brick Road |
Chip |
1.00 |
2.45 |
48.50 |
0.25 |
0.03 |
3.44 |
W496921 |
Goldilocks |
Grab |
|
1.42 |
32.50 |
0.00 |
0.09 |
1.85 |
W496924 |
Goldilocks |
Chip |
0.50 |
1.15 |
27.00 |
0.00 |
0.00 |
1.47 |
W496919 |
Goldilocks |
Chip |
1.50 |
0.77 |
19.10 |
0.00 |
0.00 |
0.99 |
W497409 |
Yellow Brick Road |
Channel |
0.75 |
0.26 |
2.70 |
0.01 |
0.01 |
0.31 |
W496864 |
Goldilocks |
Grab |
|
0.12 |
5.30 |
0.00 |
0.00 |
0.18 |
W3875154 |
Yellow Brick Road |
Grab |
|
55.80 |
795.00 |
1.71 |
12.30 |
74.28 |
W3875134 |
Yellow Brick Road |
Grab |
|
21.40 |
339.00 |
0.66 |
4.85 |
28.97 |
W3875174 |
Yellow Brick Road |
Grab |
|
16.70 |
212.00 |
0.17 |
0.40 |
19.71 |
W3875164 |
Yellow Brick Road |
Grab |
|
16.20 |
267.00 |
1.25 |
2.62 |
22.71 |
W3875124 |
Yellow Brick Road |
Grab |
|
0.67 |
2340.00 |
1.67 |
0.11 |
31.39 |
W3875144 |
Yellow Brick Road |
Grab |
|
9.28 |
152.00 |
0.07 |
0.13 |
11.28 |
1Grab 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 sampled2True thickness
of mineralized zone not known
3AuEq metal values are calculated using:
Au $1222.9/oz, Ag $14.63/oz, Cu
$2.8499/lb42017 Sample
Data
Link to image gallery
Extensive regions of snowpack and glacial
recession also provide large areas with strong gold potential that
remain unexplored. Follow up work and drilling will focus on
expanding the known extent of mineralization at the Yellow Brick
Road and Goldilocks zones both along strike and to depth, which
will lead to the understanding and modeling of this extensive
gold-rich mineralizing system. Follow-up prospecting of the vast
unexplored regions of the Goldstar Property adds to future
discovery potential.
The Gold Star Property is situated on the
central coast of BC and is located approximately 5.5 km from
logging access roads and lies within 4.5 km of tidewater, which
provides for good access to infrastructure.
The Gold Star Property is an original discovery
with no previous recorded work in the area. The prospect was
generated and staked by the DSM Syndicate following positive
results from a reconnaissance prospecting program.
Dan Stuart, President and CEO of
Juggernaut states:
“Juggernaut is in the unique position of being
fully funded with no further dilution required for drilling two
original bedrock discoveries, Goldstar (link to video) and
Goldstandard (link to video) that have confirmed High Grade
Pollymetallic Mineralization over significant widths at surface and
are drill ready. The inaugural drill program is planned for the
summer of 2021. With just over 17MM shares outstanding, Juggernaut
provides an excellent opportunity for investors to participate in
the ever-strengthening gold bull market.”
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
All rock, channel and talus fine samples were
crushed and pulverized at ALS Canada Ltd.'s lab in Vancouver, BC.
ALS is either Certified to ISO 9001:2008 or Accredited to ISO
17025:2005 in all of its locations. The resulting sample pulps were
analyzed for gold by fire assay in Vancouver, BC. The pulps were
also assayed using multi-element aqua regia digestion at ALS Canada
Ltd.'s lab in Vancouver, BC. The coarse reject portions of the rock
samples, as well as the pulps, were shipped to DSM Syndicate's
storage facility in Terrace, BC. All samples were analyzed using
ALS Canada Ltd.'s assay procedure ME-ICP41, a 1:1:1 aqua regia
digestion with inductively-coupled plasma atomic emission
spectrometry (ICP-AES) or inductively-coupled plasma mass
spectrometry (ICP-MS) finish for 35 elements as well as the Au-AA24
lead collection fire assay fusion procedure with atomic absorption
spectroscopy (AAS) finish. Any results greater than 100 ppm for
silver or 10,000 ppm copper, lead and zinc were additionally
assayed using ALS's OG46 method particular to each element. This
method used an HNO3-HCl digestion followed by ICP-AES (or
titrimetric and gravimetric analysis). Gold values of greater than
10 ppm Au were assayed by the Au-GRA22 method which includes a
fire-assay fusion procedure with a gravimetric finish. QA/QC
samples including blanks, standards, and duplicate samples were
inserted regularly into the sample sequence.
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.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD LOOKING STATEMENT
Certain 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
DISTRIBUTION TO U.S. NEWSWIRE SERVICES. THIS PRESS RELEASE DOES NOT
CONSTITUTE AN OFFER TO SELL OR AN INVITATION TO PURCHASE ANY
SECURITIES DESCRIBED IN IT.
For more information, please contact:
Juggernaut Exploration Ltd.
Dan Stuart
President and Chief Executive Officer
Tel: (604)-559-8028
www.juggernautexploration.com
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