VANCOUVER, British Columbia, April 07, 2020 (GLOBE NEWSWIRE) -- 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 Stuart
President and Chief Executive Officer
Website: www.juggernautexploration.com
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