VANCOUVER, British Columbia, July 06, 2020 (GLOBE NEWSWIRE) -- 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 Stuart
604-559-8028
Director, President and Chief Executive Officer
Website: 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 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.