VANCOUVER, British Columbia, Sept. 30, 2019 (GLOBE NEWSWIRE) — Juggernaut Exploration Ltd. (JUGR.V) (the “Company” or “Juggernaut”) is pleased to announce the results from its 2019 diamond drilling program on its Midas and Empire properties.
Midas 2019 Drill Program:Located 24 km southeast of Terrace, British Columbia. The 2019 drill program focused on testing several VHMS targets within the King Solomon trend that were generated from the compilation of the 2018 exploration program. This includes drill results, IP data, chip-grab-channel sample geochemistry, soil geochemistry, detailed bedrock mapping, and whole rock analysis of this prospective package of Paleozoic volcanics.The 2019 drill program completed 9 drill holes (Figure 1) totaling 2548m and revealed several zones confirming the presence of gold and base metals in a potential VHMS to orogenic gold system near surface and at depth. These mineralized zones are typically associated with strongly silica-sericite altered volcanics and can be associated with polymetallic quartz veining throughout the King Solomon trend. Drill Highlights:MD-19-18 intersected several mineralized gold to copper bearing zones hosted within strongly silica-sericite altered volcanics including 6.22m of 0.313 g/t Au from 8.53 to 14.75m, 0.95m of 1.495 g/t Au with 1.940% Cu from 35.8 to 36.75m and 3.22m of 0.362 g/t Au from 93.83 to 97.05MD-19-19 intersected 1.8m of 1.87 g/t Au from 187.7 to 189.5m indicating the presence quartz-pyrite gold bearing veins at depthMD-19-21 displayed textures consistent with VHMS including a 0.5m interval of semi massive to massive pyrite from 47 to 47.5m containing 0.213 g/t Au with 6.03 g/t Ag and 0.368% Cu hosted within strongly sericite to silica altered rockAt depth MD-19-21 encountered several metre-scale gold mineralized zones from 162.5 to 163.5, 187.7 to 188.2 and 206 to 207m of 0.909 g/t Au, 0.965 g/t and 3.03 g/t Au respectivelyMD-19-22 tested the core of a high chargeability IP anomaly due east of MD-18-16 (35.35m 0.21 g/t Au). This hole intersected a large interval (97m) of silicified-sericite-pyrite altered rock which explained the anomaly but did not encounter significant mineralization. Further down hole from the anomaly gold mineralization was encountered for 4.92 m of 0.10 g/t Au from 324.22 to 329.14 in a separate zone of strongly silicified-sericite altered rock.
Table 1. 2019 Midas Drill Hole Assay results. Widths are reported in drill core lengths and the true widths are not known. See Table 2 for hole locations, azimuth and dip.Table 2. 2019 Midas Drill Collar Locations1UTM Zone 9N NAD83(Link: Midas 2019 Diamond Drill Collars Locations)Further compilation and study of all the available data is recommended to vector in on new targets within the 2.1 x 1.6 km King Solomon Trend that remain to be drill tested.King Solomon Zone HighlightsThe British Columbia Geological Survey (BCGS; McKeown et al., 2007) mapped a conformable sequence of layered Paleozoic felsic to mafic sub-aqueous 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 chloritic alteration, Na-Ca depletion, and quartz-sericite-pyrite development.Additionally, the BCGS documented massive sulphide lenses, barite lenses and veins, and stated the area southeast of Terrace is highly prospective for VHMS deposits.Soil and rock sample geochemistry is consistent with a VHMS signature.Newly acquired and modeled MT and IP data shows large, strong chargeability and resistivity anomalies at depth that can be traced across multiple IP lines.The 2018 drill holes on Midas intersected gold and polymetallic mineralizationMD-18-16 intersected an intensely silicified mineralized zone grading 0.21 Au g/t Au, 0.18 g/t Ag, 0.32 % Zn, 0.08 % Cu, 0.02 % Pb over 35.35 metres which we believe may be the part of a VHMS system.The discovery of this new zone, located within a regional world class VHMS setting, confirms the strong potential for the Midas property to host a significant discovery.Empire 2019 Drill Program:The 2019 drilling program on Empire focused on testing two targets within the upper Rockstar zone generated from the 2018 surficial grab samples and IP survey. Hole EM-19-19 tested a near surface IP anomaly and did not intersect any significant mineralization or lithology, therefore the anomaly remains unexplained. The final hole (EM-19-20) intersected 4.7m of 1.173% Cu with 0.114 g/t Au from the top of the hole. This hole tested the extent of mineralization within a Quartz-Chalcopyrite breccia (See Table 3 for drill collar information).Table 3. 2019 Empire Drill Collar Information.1UTM Zone 9N NAD83Mr. Dan Stuart, Director, President and CEO of Juggernaut states:The results of this program indicate there remains good potential for structurally controlled and or VMHS mineralization to be discovered within the underexplored King Solomon trend on the Midas property. The 2019 data will aid in planning for future drilling as we continue to gain a better understanding of the property.OtherAll 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 PersonRein 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.
Mr. Dan Stuart
President and Chief Executive Officer
Tel: (604)-559-8028
Website: https://www.juggernautexploration.comNEITHER 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
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