Juggernaut Exploration Update
July 06 2020 - 2:14PM
Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF)
(FSE:4JE)
(the “Company” or “Juggernaut”) reports
that due to Covid-19 and subsequent delays including permitting the
anticipated summer 2020 drill program on the Goldzilla Hinge Zone
is postponed, and is now planned for the summer of
2021. Juggernaut can earn a 100% interest in
the Gold Standard property containing 3961 hectares located in
West Central BC in close proximity to infrastructure. The
property contains the newly identified deposit
target
Goldzilla hinge zone, the Hinge
measures up to
20 meters wide and can be
traced for
100m along strike, contains broad
high-grade gold mineralization and is drill ready. The hinge zone
is part of the large-scale Goldzilla orogenic vein system that
has been
traced for 800 metres
with a vertical relief of 300 metres and remains open
to the south east. Channel cut grades on the hinge zone
assayed up to 5.86 grams per ton (g/t) gold and 6.00 g/t
AuEq (gold equivalent) over 12 metres including 5 metres
of 13.03 g/t AuEq and 1 metre of 31.66 g/t AuEq true
width
. Approximately 67 % of Canadian gold
production comes from this world class geologic setting (Link
to Video)
Dan Stuart Director, President and
CEO states: “The Goldstandard property has
demonstrated its tremendous gold potential with the discovery of
the Goldzilla hinge zone and several other high-grade orogenic gold
veins. These orogenic gold systems are commonly mined to depths of
1 to 3 kilometres. This geologic setting and model have proven to
host several world-class, high grade, multimillion ounce
deposits. The planned inaugural drilling has excellent potential to
expand this gold discovery both along strike and at depth. This
project has garnered the interest of several miners and
institutions alike confirming the significance of this
opportunity. The company will focus on how best to lever
Goldstandard to its full potential. The company remains
focused on maximizing value through positive exploration results
while simultaneously minimizing dilution going forward thereby
unlocking the full potential for its shareholders
Qualified Person
Rein Turna, P. Geo. is the qualified person as
defined by National Instrument 43-101, for Juggernaut Exploration
Ltd., and supervised the preparation of, and has reviewed and
approved, the technical information in this release.
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 36elements.
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.
For more information please contact:
Juggernaut Exploration Ltd.Dan
Stuart604-559-8028Director, President and Chief Executive
OfficerWebsite: www.juggernautexploration.com
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.
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