VANCOUVER, British Columbia, Dec. 05, 2017 (GLOBE NEWSWIRE) -- Juggernaut Exploration Ltd. (TSXV:JUGR.V) (the “Company” or “Juggernaut”) is pleased to report initial channel and chip sample assay results containing polymetallic mineralization on its new Rockstar and Material Metal discoveries and its existing Babylon discovery located on the Empire property, 40 km northeast of Terrace British Columbia.
A highlight of the 2017 Empire program was the discovery of the Rockstar zone (link to map). A channel cut in the Rockstar zone contained 4.17 grams per tonne gold equivalent over 6.02 metres including 1.53 grams per tonne gold, 1.38 % copper, 0.23 % zinc, and 0.13 % lead. This channel started and ended in mineralization due to the limited rock exposure from heavy snowfall. Thus, mineralization in this channel remains open. A 1 metre chip sample on Rockstar contained 33.99 grams per tonne gold equivalent including 21.7 grams per tonne gold, 0.94 % copper, 3.42 % zinc, and 11.55 % lead. Gold and copper mineralization was discovered in 100 % of the 25.77 metres of channel cuts made at Rockstar and in 92 % of the chip and outcrop grab samples. Extensive propylitic and potassic alteration along the Inca Trend is similar to that seen at Rockstar zone consistent with porphyry-style mineralization.
Rockstar Highlights include:
- The presence of extensive bedrock polymetallic and gold mineralized samples over a 1 kilometre by 530 metres zone remains open, located on the southern extent of the 5.5 kilometre long Inca Trend (link to map).
- 100% of the 25.77 metres of channel samples contain gold and copper mineralization.
- 92% of chip and outcrop grab samples contain gold and polymetallic mineralization.
- Rockstar channel cut contained 4.17 grams per tonne gold equivalent over 6.02 metres including 1.53 grams per tonne gold, 1.38 % copper, 0.23 % zinc, and 0.13 % lead. The channel both started and ended in mineralization (link to image).
- 1 metre chip sample on Rockstar contained 33.99 grams per tonne gold equivalent including 21.7 grams per tonne gold, 0.94 % copper, 3.42 % zinc, and 11.55 % lead.
- Strong potential to expand the zone in all directions and to depth (link to map).
- 1.5 kilometres to a logging road and 33 kilometres to a high tension power line
- Drill ready.
| Table 1: Rockstar Zone Assay Highlights | ||||||||
| Sample | Channel/ Chip/Grab | Length (metres)1 | Gold Eq (gpt)2 | Gold (gpt) | Copper % | Zinc % | Lead % | Silver (gpt) |
| W503821-26 | Channel | 6.02 | 4.17 | 1.53 | 1.38 | 0.23 | 0.13 | 5.43 |
| W503813-14 | Channel | 1.94 | 3.92 | 0.72 | 1.88 | 3.70 | ||
| W503829-30 | Channel | 1.41 | 19.84 | 2.51 | 10.17 | 20.65 | ||
| W503831 | Channel | 1.00 | 4.34 | 3.40 | 0.23 | 0.30 | 0.40 | 6.90 |
| W503834-35 | Channel | 0.80 | 6.27 | 1.51 | 2.74 | 0.02 | 12.95 | |
| W503803 | Channel | 0.70 | 1.69 | 1.04 | 0.37 | 0.01 | 0.90 | |
| W503807 | Channel | 0.63 | 21.39 | 0.38 | 12.50 | 3.70 | ||
| W503809 | Channel | 0.60 | 10.22 | 1.28 | 4.98 | 44.70 | ||
| W503816 | Channel | 0.40 | 19.58 | 1.73 | 10.60 | 0.01 | 5.30 | |
| W503815 | Channel | 0.33 | 2.57 | 1.12 | 0.81 | 7.10 | ||
| W503827 | Channel | 0.30 | 17.60 | 1.98 | 9.24 | 9.80 | ||
| W503818 | Channel | 0.30 | 4.03 | 3.02 | 0.15 | 0.40 | 0.56 | 8.60 |
| W503832 | Channel | 0.25 | 19.89 | 8.28 | 1.20 | 8.31 | 4.42 | 32.80 |
| W503317 | Chip | 1.00 | 33.99 | 21.70 | 0.94 | 3.42 | 11.55 | 86.80 |
| W503316 | Chip | 1.00 | 24.26 | 13.10 | 1.45 | 3.10 | 9.19 | 62.10 |
| W503351 | Chip | 1.00 | 11.27 | 7.06 | 1.27 | 1.25 | 0.14 | 78.30 |
| W503352 | Chip | 1.00 | 17.36 | 2.59 | 0.96 | 4.64 | 14.65 | 59.10 |
| W502573 | Chip | 0.50 | 14.29 | 7.83 | 3.64 | 0.01 | 0.10 | 22.30 |
| W502572 | Chip | 0.30 | 6.69 | 1.70 | 0.37 | 3.49 | 2.03 | 32.40 |
| W494661 | Outcrop Grab | 9.55 | 5.67 | 2.22 | 11.90 | |||
| W495216 | Outcrop Grab | 7.40 | 4.07 | 0.63 | 0.21 | 2.63 | 41.00 | |
| W389403 | Outcrop Grab | 4.91 | 2.56 | 1.35 | 7.20 | |||
| W503855 | Outcrop Grab | 3.65 | 2.52 | 0.60 | 58.30 | |||
| W503405 | Outcrop Grab | 4.18 | 2.11 | 0.09 | 0.94 | 1.57 | 18.90 | |
| W503402 | Outcrop Grab | 13.31 | 1.93 | 0.66 | 11.75 | 0.68 | 47.90 | |
| W503401 | Outcrop Grab | 2.81 | 1.60 | 0.16 | 0.46 | 0.60 | 17.90 | |
| W503415 | Outcrop Grab | 5.11 | 1.28 | 2.00 | 0.01 | 35.40 | ||
| W494663 | Outcrop Grab | 40.11 | 1.27 | 20.40 | 0.02 | 350.00 | ||
| W494664 | Outcrop Grab | 7.02 | 1.24 | 3.38 | 9.20 | |||
1True thickness of mineralized zone not known
2AuEq based on Metal Prices on Nov 27, 2017: Au $1294.70 oz; Cu $3.1660 lb; Zn $1.4837 lb; Pb $1.1247 lb; Ag $17.100 oz
Rockstar Zone
The Rockstar zone is part of the 5.5 kilometre long Inca Trend and was discovered in late September due to glacial retreat and low snow pack in the area, exposing new mineralized bedrock. Rockstar is located approximately 2 kilometres south-southwest of the newly discovered Max Min zone. Combined, the discovery of Max Min and Rockstar have extended the Inca Trend from 1.5 by 1 kilometres to 5.5 by 1.5 kilometres in size. The Inca Trend remains open in all directions.
There is strong potential to expand the Rockstar zone northeastwards towards Max Min, since the area remains unexplored. The northern most bedrock sample at Rockstar was taken from a small outcrop within the glacier and assayed 0.02 grams per tonne gold, 0.48 % zinc, 0.28 % lead, and 0.12 % copper. Similarly, the most western and southern samples defining the Rockstar zone contained 7.02 grams per tonne gold equivalent (1.24 grams per tonne gold, 3.38 % copper, and 9.2 grams per tonne silver) and 7.4 grams per tonne gold equivalent (4.07 gram per tonne gold, 0.63 % copper, 0.21 % zinc, 2.63 % lead, and 41 grams per tonne silver), respectively. Therefore, there is excellent potential to expand the mineralized zone which remains open in all directions.
Following the discovery of the Rockstar zone in late September only two days were spent sampling along a 1 kilometre area before the heavy snowfall brought an end to the 2017 exploration season. This zone remains open in all directions. During the two day period a total of 25.77 metres of channel sampling was completed. In addition, 20 chip samples and 31 outcrop grab samples were also taken. Highlights are reported in Table 1 and include a 6.02 metre channel sample containing 4.17 grams per tonne gold equivalent (1.53 grams per tonne gold, 1.38 % copper, 0.23 % zinc, and 0.13 % lead) and a 1.41 metre channel sample containing 19.84 grams per tonne gold equivalent (2.51 grams per tonne gold, 10.17 % copper, and 20.65 grams per tonne silver). The polymetallic and gold mineralized samples were found along a one kilometer strike length. Of the 20 chip samples taken, 14 returned greater than 0.1 grams per tonne gold, and 6 returned greater than 1 gram per tonne gold. Highlights include a 1 metre chip samples containing 33.99 grams per tonne gold equivalent (21.7 grams per tonne gold, 0.94 % copper, 3.42 % zinc, and 11.55 % lead) and 24.26 grams per tonne gold equivalent (13.1 grams per tonne gold, 1.45 % copper, 3.1 % zinc, and 9.19 % lead). Of the 31 outcrop grab sample collected, 20 assayed above 0.1 grams per tonne gold including 10 above 1 gram per tonne gold (see Table 1).
Drilling in 2018 will focus on discovering the hydrothermal feeder source of the mineralized system at depth. Ground IP, mapping, and drilling are recommended to outline the full geometry of the new Rockstar zone discovery.
The Inca Trend is hosted in volcanic, magmatic arc rocks of the Stikine Terrane, which is a favorable geological setting for porphyry systems in British Columbia. The thick sequence of volcanic rocks that underlies the Inca Trend is intruded by numerous felsic and intermediate porphyry dykes. The polymetallic mineralization, intrusions and extensive propylitic and potassic alteration along the Inca Trend are consistent with porphyry-style mineralization. The rapid ongoing snowpack and glacial recession in 2018 should exposed new outcrop with strong discovery potential, along the entire 5.5 km Inca Trend. The Inca Trend is under explored and remains open.
Babylon
The Babylon trend is located approximately 2.5 kilometres southeast of the Inca Trend and extends over a 1.5 by 1 kilometre area and remains open. The 2016 discovery of the Babylon trend identified extensive zones of pervasive potassic alteration (link to map) that are associated with polymetallic mineralization focused along contacts, shears, fractures, and faults. To determine how widespread the polymetallic mineralization is, a series of long chip samples were taken during the 2017 exploration season (see Table 2).
Highlights include chip samples grading 0.35 % copper, 0.04 % zinc, 0.01 % lead, and 177 grams per tonne silver over 4 metres; 3.75 metres grading 0.29 % copper, 0.03 % zinc, and 221 grams per tonne silver; and 3.75 metres grading 0.35 % copper, 0.04 % zinc, 0.02 % lead, and 116 grams per tonne silver.
The consistently elevated copper-silver mineralization encountered over large strike lengths confirms the strong untapped potential of this zone at surface and at depth. The style of mineralization and extensive potassic alteration is consistent with the presence of a porphyry system at depth and strongly indicates a common source of mineralization for both the Babylon and Inca Trends. Drilling, ground IP, and mapping is recommended to outline the full geometry along strike and to depth at Babylon.
| Table 2: Babylon Zone Highlights | ||||||
| Sample | Channel/ Chip/ Grab | Length (metres)1 | Copper % | Zinc % | Lead % | Silver (gpt) |
| W494658 | Chip | 4 | 0.35 | 0.04 | 0.01 | 177.00 |
| W494656 | Chip | 3.75 | 0.29 | 0.03 | 221.00 | |
| W494657 | Chip | 3.75 | 0.35 | 0.04 | 0.02 | 116.00 |
| W495219 | Chip | 1 | 0.47 | 0.03 | 157.00 | |
| W494659 | Chip | 1 | 0.29 | 0.03 | 0.02 | 211.00 |
| W495220 | Outcrop Grab | 0.80 | 0.01 | 367.00 | ||
| W387651 | Outcrop Grab | 0.67 | 0.01 | 234.00 | ||
1True thickness of mineralized zone not known
Material Metal
Material metal is a newly discovered mineralized zone that is 1 kilometre southeast of Rockstar and 3 kilometres southwest of Babylon. Mineralization is hosted within fine grained andesite of the Jurassic Hazelton Group. Mineralized samples have been collected from a bedrock zone that is 220 by 60 metres in size and remains open in all directions (link to maps). Chalcopyrite mineralization is disseminated throughout the rock and is also found as blebs and globules with specular hematite and malachite staining along fracture surfaces (link to images). The mineralization is characteristic of that documented elsewhere along the Inca and Babylon trends, indicating a common source at depth for the mineralization.
Ten chip samples were taken that range from 0.35 % to 1.78 % copper content (see Table 3). Highlights include a 5 metre chip sample that contained 0.04 grams per tonne gold, 0.55 % copper, and 15.6 grams per tonne silver. An outcrop grab sample that contained 0.14 grams per tonne gold, 1.08 % copper, and 53.8 grams per tonne silver. Drilling, ground IP, and mapping is also recommended to outline the full geometry along strike and to depth at Material Metal.
| Table 3: Material Metal Zone Highlights | |||||
| Sample | Channel/Chip/Grab | Length (metres)1 | Gold (gpt) | Copper % | Silver (gpt) |
| W502544 | Chip | 5 | 0.04 | 0.55 | 15.60 |
| W501049 | Chip | 1 | 1.78 | 5.10 | |
| W500001 | Chip | 1 | 1.16 | 6.60 | |
| W501046 | Chip | 1 | 0.82 | 6.80 | |
| W501047 | Chip | 1 | 0.73 | 1.70 | |
| W501048 | Chip | 1 | 0.71 | 5.30 | |
| W500002 | Chip | 1 | 0.64 | 6.10 | |
| W501050 | Chip | 0.5 | 0.58 | 7.10 | |
| W501045 | Chip | 1 | 0.43 | 1.60 | |
| W490524 | Chip | 1 | 0.35 | 5.60 | |
| W501037 | Outcrop Grab | 0.14 | 1.08 | 53.80 | |
1True thickness of mineralized zone not known
Empire property
Work on the property has been limited with a total of ~4 weeks spent over the 2016 and 2017 exploration seasons. The discoveries of both Max Min and Rockstar at the very tail end of this season are strong confirmation of the excellent potential for additional discoveries on Empire as rapid snowpack and glacial recession continues. An extensive program of systematic ground IP, mapping, prospecting, and channel sampling is recommended for 2018 to expand the extent of surface mineralization on the Empire Property. At Max Min, Rockstar, and Metalworks high resolution ground geophysics and drilling will target the mineralization extent at depth.
In addition to porphyry-style gold-silver-polymetallic mineralization with potassic alteration, recent work and research in the area by the B.C. Geological Survey identified a sequence of marine Hazelton volcanic rocks (Quock formation pillow lavas and sedimentary rocks with marine fossils) on the northern portion of the Empire. This study determined the geologic setting is also contemporaneous with the development of the Eskay rift to the west. Therefore, this region also may have good potential for epithermal mineralization and Eskay Creek-style mineralization. The northern portion of the property underlain by the Quock formations remains largely unexplored.
Statements
Mr. Dan Stuart, Director, President and CEO of Juggernaut states:
“The team has once again delivered exceptional results from Empire that has far exceeded our expectations. The team has barely begun to scratch the surface on Empire which still remains largely unexplored and we could only be seeing the tip of the iceberg. I certainly look forward to unlocking the value in these original new discoveries with the drill bit. The planned 2018 program will be the first drill program ever on Empire. The company also looks forward to reporting results from its Midas property and from the DSM project generator syndicate as they become available."
Dr. Stefan Kruse. P.Geo, Chief Consulting Geologist stated:
“The discovery of a new extensive zone of gold- and copper-rich massive sulphides at surface on Rockstar is very exciting and we look forward to outlining the full extent of this discovery both along strike and at depth. We have strongly recommended a comprehensive exploration and inaugural drill program in 2018 targeting this and the other exciting new discoveries made on Empire.”
For new maps and photos please go to the website at www.Juggernautexploration.com
Other
Stefan Kruse, Ph.D., P. Geo., Chief Geologist, 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. Further information regarding Juggernaut’s Midas and Empire properties can be sourced on-line at www.Juggernautexploration.com, or by contacting Dan Stuart at 778-233-0293.
All rock, channel and talus fine samples were crushed and pulverized at ALS Canada Ltd.’s lab in Terrace, BC or in Reno Nevada. 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 Reno, Nevada or in Vancouver, BC. The pulps were also assayed using multi-element aqua regia digestion at ALS Canada Ltd.’s lab in Vancouver, BC. The silt samples were sieved and assayed at ALS Canada Ltd.’s lab in Vancouver, BC. The coarse reject portions of the rock, channel and talus fine samples, as well as the pulps, were shipped to J2 Syndicate’s storage facility in Terrace, BC. The silt samples were disposed of after analysis. 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. Blanks and duplicates QA/QC samples were inserted into channels sample laboratory batches. Additionally, and 10% sub-sample of pulp and reject material was sent to Activation Laboratories in Ancaster Ontario, for check-analysis.
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.
Gold equivalent assays are based on metal prices (USD) on Nov 27, 2017: Au $1294.7 oz; Copper $3.1660 lb; Pb $1.1247 lb; Zn $1.4837 lb; Ag $17.100 oz and are based on an assumption of 100% recovery.
On behalf of the Board of Directors,
“Dan Stuart”
Dan Stuart Director, President, and CEO
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. 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.
Juggernaut Exploration Ltd.
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