JUGGERNAUT’S MIDAS VHMS PROPERTY EXPLORATION FULLY FUNDED
April 07 2020 - 6:45AM
Juggernaut Exploration Ltd.(TSX-V: JUGR) (OTCQB: JUGRF)
(FSE: 4JE) (the
“Company” or
“Juggernaut”) is pleased to report the planned
2020 exploration program for the Midas property is now fully
funded.
The Midas property is a strong VHMS target
confirmed by all work done to date. Based on the data compiled
from the 2019 and 2018 drill programs we now believe some of the
best targets remain untested. Results to date through
drilling have substantiated this with the holes closest to East
Creek fault. MD-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 rock. Several key
targets remain untested on the Midas project. Furthermore the most
easterly collared drill hole in 2018 hole MD-18-16 intersected 35 m
Au, Ag, Cu and Zn mineralization pointing to the close-by East
Creek fault (Gazelle showing area) as having good VHMS
potential.
Further compilation is ongoing and study of all
the available data to date is already providing compelling results
by vectoring in on new high grade gold targets within
the 2.1 x 1.6 km King Solomon Trend that remain to be drill
tested.
King Solomon Zone
Highlights
- All 25 drill holes to date on Midas intersected gold and
polymetallic mineralization.
- The 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.
- Magnetotelluric (MT) and IP data
shows large, strong chargeability and resistivity anomalies at
depth that can be traced across multiple IP lines.
- The King Solomon Zone is located
within a regional world class VHMS setting that confirms the strong
potential for the Midas property to host a significant
discovery.
Mr. Dan Stuart, Director, President and
CEO of Juggernaut states:
“The exploration results to date indicate there
remains good potential for VMHS mineralization to be discovered
within the underexplored King Solomon trend on the Midas property.
The proposed 2020 exploration program in compilation with 2019 and
2018 results are aiding in planning for future drilling as we
continue to gain a better understanding of the property. Eskay
Creek went through many companies and took over 100 holes to
hit. Management believes the Midas project justifies
additional exploration as we could be just one drill hole away from
a significant VHMS discovery. The Midas property exploration
results have given us a lot of good indications we are still headed
in the right direction. 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.Mr. Dan
StuartPresident and Chief Executive OfficerWebsite:
www.juggernautexploration.com
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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
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