Juggernaut Drills 2.3 gpt AuEq over 6.5 m on Gold Standard

Vancouver, British Columbia, CANADA


VANCOUVER, British Columbia, Dec. 13, 2021 (GLOBE NEWSWIRE) -- Juggernaut Exploration Ltd (JUGR.V) (The “Company” or “Juggernaut”) is pleased to announce the results from its 2021 maiden exploratory drill program on its 100% controlled Gold Standard property situated along the Central Coast of British Columbia. A total of 11 shallow exploratory holes were drilled, all of which intersected significant widths of anomalous gold and polymetallic mineralization and/or quartz-chlorite-sulphide veining on the Goldzilla Hinge Zone. Drill hole GSD-21-10 intersected 2.146 gpt Au (2.302 gpt AuEq) over 6.5 m including 3.284 gpt Au (3.498 gpt AuEq) over 4.0 m and 8.210 gpt Au (8.638 gpt AuEq) over 1 m. The Goldzilla Zone has been traced on surface for 800 m with a vertical relief of 300 m and remains open both to the southeast and to depth. A small faction of the Goldzilla vein has been tested on strike and to depth to date. The 2021 drilling focused on the Hinge Zone was successful in confirming the gold mineralized vein for 60 meters along strike and 55 m to depth and remains open.

Drill Highlights:

  • All 11 exploratory holes completed on the Goldzilla hinge zone intersected significant widths of anomalous gold and polymetallic mineralization and/or quartz-chlorite-sulphide veining at shallow depths. (Link to 2021 Video)
  • The inaugural drill program on the Goldzilla vein was designed to test a small fraction of the 800 m long vein where a channel cut at the Goldzilla Hinge Zone returned 5.86 gpt Au (6.00 gpt AuEq) over 12 m including 5 m of 13.03 gpt AuEq and 1 m of 31.66 gpt AuEq (See News Release October 15, 2019) (Goldzilla Schematic Image) (Goldzilla Hinge Zone Image) (Goldzilla Big Show Zone Image).
  • Drill hole GSD-21-10 intersected 2.146 gpt Au (2.302 gpt AuEq) over 6.5 m including 3.284 gpt Au (3.498 gpt AuEq) over 4.0 m and 8.210 gpt Au (8.638 gpt AuEq) over 1 m. (GSD-21-10 Image)
  • Drill hole GSD-21-04 intersected 5.690 gpt Au (5.915 gpt AuEq) over 0.5 m. (GSD-21-04 Image)
  • Drill hole GSD-21-05 intersected 0.825 gpt Au (0.866 gpt AuEq) over 1 m including 1.040 gpt Au (1.089 gpt AuEq) over 0.5 m. (GSD-21-05 Image)

Table 1: 2021 Gold Standard drill hole assay results. Widths are reported in drill core lengths and the true widths are not known. See Table 2 for hole locations, azimuth and dip.

GSD-21-01From (m)To (m)Interval (m)Au (gpt)Ag (gpt)Cu (%)Pb (%)Zn (%)AuEq (gpt)*
Interval43.0047.504.500.2200.8560.0010.0000.0090.238
Including43.5046.002.500.2751.0130.0010.0000.0090.296
 
GSD-21-02From (m)To (m)0.00Au (gpt)Ag (gpt)Cu (%)Pb (%)Zn (%)AuEq (gpt)*
Interval46.0048.502.500.3521.1700.0010.0000.0050.372
Including46.0048.002.000.4121.2880.0010.0000.0040.432
Including46.0047.001.000.5551.6500.0010.0000.0050.580
 
GSD-21-03From (m)To (m)Interval (m)Au (gpt)Ag (gpt)Cu (%)Pb (%)Zn (%)AuEq (gpt)*
Interval82.0083.001.000.4140.8250.0030.0000.0120.438
 
GSD-21-04From (m)To (m)Interval (m)Au (gpt)Ag (gpt)Cu (%)Pb (%)Zn (%)AuEq (gpt)*
Interval43.0044.001.000.2091.2000.0030.0000.0080.234
 
Interval51.5052.000.505.69017.2000.0010.0000.0025.915
 
GSD-21-05From (m)To (m)Interval (m)Au (gpt)Ag (gpt)Cu (%)Pb (%)Zn (%)AuEq (gpt)*
Interval48.5049.501.000.8252.9000.0010.0000.0050.866
Including49.0049.500.501.0403.5000.0010.0000.0051.089
 
GSD-21-06From (m)To (m)Interval (m)Au (gpt)Ag (gpt)Cu (%)Pb (%)Zn (%)AuEq (gpt)*
Interval49.5050.501.000.4411.4000.0000.0000.0020.461
 
GSD-21-07From (m)To (m)Interval (m)Au (gpt)Ag (gpt)Cu (%)Pb (%)Zn (%)AuEq (gpt)*
Interval44.5045.000.500.4652.8000.0110.0000.0040.522
 
Interval59.0062.003.000.2120.9170.0020.0000.0040.230
Including59.0060.501.500.2811.3330.0020.0000.0040.304
 
GSD-21-08From (m)To (m)Interval (m)Au (gpt)Ag (gpt)Cu (%)Pb (%)Zn (%)AuEq (gpt)*
Interval54.0055.501.500.2740.6830.0000.0000.0020.285
Including55.0055.500.500.5661.3000.0000.0000.0030.585
 
GSD-21-10From (m)To (m)Interval (m)Au (gpt)Ag (gpt)Cu (%)Pb (%)Zn (%)AuEq (gpt)*
Interval61.5068.006.502.1467.5850.0330.0000.0032.302
Including63.0068.005.002.6899.5200.0380.0000.0032.878
Including63.0067.004.003.28411.5500.0380.0000.0023.498
Including64.0067.003.003.94714.0330.0260.0000.0024.173
Including64.0065.001.008.21031.1000.0160.0000.0018.638
 
GSD-21-11From (m)To (m)Interval (m)Au (gpt)Ag (gpt)Cu (%)Pb (%)Zn (%)AuEq (gpt)*
Interval54.5055.501.000.1950.7000.0020.0000.0080.212
Including54.5055.000.500.2330.8000.0030.0000.0100.254

* AuEq metal values are calculated using: Au 1792.60 USD/oz, Ag 23.13 USD/oz, Cu 4.37 USD/lbs, Pb 1.05 USD/lbs and Zn 1.52 USD/lbs on November 28, 2021.

Table 2: 2021 Gold Standard drill collar locations.

Hole IDCollar EastingCollar NorthingDatum/ZoneAzimuthDipLength
GSD-21-01648672.75811100.9UTM NAD83 9N13947.7117.2
GSD-21-02648672.85811101.3UTM NAD83 9N131.569.1135
GSD-21-03648672.65811101.4UTM NAD83 9N128.888.293
GSD-21-04648672.55811101.1UTM NAD83 9N173.948.6123
GSD-21-05648672.55811101.2UTM NAD83 9N171.668.397
GSD-21-06648672.65811101.4UTM NAD83 9N170.679.2139
GSD-21-07648672.45811100.8UTM NAD83 9N187.247.3145
GSD-21-08648672.15811101.3UTM NAD83 9N189.369108
GSD-21-09648672.85811100.2UTM NAD83 9N21188.395.46
GSD-21-10648673.45811100.2UTM NAD83 9N112.552.790
GSD-21-11648673.15811101.7UTM NAD83 9N1108860.65

The 2021 maiden exploration drilling consisted of 11 shallow drill holes totalling 1203 m, which were designed to test the Goldzilla Hinge Zone, a small section of the 800 m Goldzilla Vein. All holes intersected anomalous high gold polymetallic mineralization and/or quartz-chlorite-sulphide veining confirming the presence of a new orogenic gold system which remains open both along strike to the southeast and down dip. The Gold Standard property comprises multiple extensive shear-hosted orogenic quartz-chlorite-sulphide veins up to 20 m wide and 1000 m long outcropping at surface (Goldstandard Overview Map Veins). Of these veins, only a small section of the Goldzilla has been drill tested to date (60 m of strike and 55 m down dip) leaving the majority of this vein unexplored along strike and at depth. The property is located in a key geologic setting along a regional scale under-explored high strain zone that extends for more than 100 km in a NNW-SSE direction. (2021 Video Link Here).

Goldstandard property highlights:

  • During the 2021 field season, 28 channel grabs where collected with grades ranging from background up to 34.6 gpt Au, 149 gpt Ag and 0.01 % Cu.
  • During the 2021 campaign, 40 grab samples where collected with grades ranging from background up to 34.6 gpt Au, 149 gpt Ag and 0.46 % Cu.
  • In 2019 through detailed mapping and surficial sampling, a 100 m by up to 20 m wide Hinge Zone was discovered containing high grade gold mineralization of up to 6.00 gpt AuEq over 12 m including 5 m of 13.03 g/t AuEq and 1 m of 31.66 AuEq. This Hinge Zone is part of the Goldzilla orogenic system that is traced on surface for 800 m with 300 m of vertical relief and remains open. (Goldzilla Schematic Image) (Goldzilla Hinge Zone Image) (Goldzilla Big Show Zone Image 1) (Goldzilla Big Show Zone Image 2) (Goldzilla Big Show Zone Image 3)
  • The Kraken Vein is up to 15 m wide and has been traced on surface for 1000 m with 520 m of vertical relief and remains open. Channel samples from 2019 returned grades of 29.48 gpt AuEq over 0.7 m and a 1 m chip taken 305 m along strike grading 6.52 gpt Au and remains open. A maiden drill program is recommended to test Kraken. (Link to Video) (Kraken Overview Image) (Kraken Overview Schematic)
  • The Leviathan vein is an up to 5 m wide vein that has been traced on surface for 500 m with 50 m of vertical relief and remains open. Channel sampling from 2019 returned grades of up to 3.65 gpt AuEq over 3 m including 10.55 gpt AuEq over 1 m true width and remains open. A maiden drill program is recommended to test Leviathan. (Link to Video) (Leviathan Schematic) (Leviathan Vien)
  • The East Vein has a strike of 600 m with vertical relief of 60 m and is up to 3 m wide with grab samples up to 7.22 gpt Au and a 3 m chip sample grading 5.75 gpt Au located 2.8 km to the east of the Leviathan vein. This system remains open in all directions. A maiden drill program is recommended to test the East Vein. (East Vein Picture 1) (East Vein Picture 2) (East Vein Chip)
  • Multiple other extensive en-echelon gold-bearing orogenic veins have been found within the high strain zone extending for 4.5 km by 1.5 km (Goldstar Overview Map Veins).

This mineralized orogenic system is part of a regional high strain zone, a brittle and ductile, sub-vertical shear zone system that is proximal to the boundary between the Intermontane and Insular superterranes, demarked by the Coast Shear Zone. Localization of high strain zones within the system are associated with sheeted, oxidized, sulphide-bearing quartz veins and shear zones that have been identified in outcrop with a strike length of 4.6 km and 1.5 km wide, which remains open in all directions. Discrete gold bearing quartz veins and shears trend up to ~1 km in strike with 500 m of vertical extent and are up to 20 m in width. They host variable amounts of gold mineralization, oxidized pyrite and disseminated pyrite with chalcopyrite. Extensive regions of snow-pack abatement and glacial recession along the regional under-explored high stain zone provide for extensive areas recently exposed with excellent discovery potential. (High Strain Zone).

The 2021 inaugural drill program and additional prospecting and mapping has further confirmed the presence of a strong gold mineralized orogenic system that remains largely unexplored on Goldstandard providing for tremendous additional discovery potential both on surface and at depth. Based on results from the maiden shallow exploratory drilling, an additional follow up drill program is recommended on Goldzilla to outline the gold mineralization in the 3rd dimension both along strike and to depth. Future maiden drilling is also recommended to test the gold potential of the nearby Kraken and Phoenix veins (Phoenix Outcrop) as well as the Leviathan and East veins.

Results from the Gold Standard property have confirmed the presence of a strong gold mineralized orogenic system on the Gold Standard property at surface and at depth where veins occur in an en-echelon pattern to the regional north-northwest orientation of the major shear zones. The prolonged faulting and shearing within this under-explored regional high strain zone on the Gold Standard property provided extensive conduits for mineralizing fluids and favourable sites for mineralization (shears Image). These orogenic characteristics are consistent with gold-bearing mineralized veins and shear zones. Orogenic gold system are often deep rooted and are mined to depths of 1 to 3 km (Tectonic Setting). Approximately 67 % of Canadian gold production comes from orogenic systems in world class geologic settings, with examples including the nearby Bralorne Pioneer Camp in British Columbia (4.17 Moz) with depths to ~2 km, and many regions within the Canadian shield including Kirkland Lake (>40 Moz) (kirkland Lake), Timmins (>70 Moz), Val d’Or/Noranda (>69 Moz) and Red Lake gold camps (>29 Moz). These gold deposits typically contain average mining grades of ~5 gpt Au to ~15 gpt Au.

Juggernaut Exploration’s 100 % controlled Gold Standard property is an original discovery with no previous recorded work in the area and is situated 1 km north of tidewater along the Central Coast of British Columbia approximately 4 km from major infrastructure.

Dan Stuart, President and CEO of Juggernaut Exploration, states: The results from the maiden exploration drilling on Goldstandard has confirmed gold mineralization in the subsurface. This shallow exploratory drilling on the Goldzilla Hinge Zone has barely begun to scratch the surface on this extensive orogenic gold system. We look forward to unlocking the full gold potential by drilling Goldstandard in 2022 and beyond, the next exploration season is shaping up to be an exciting one.

Qualified Person

Rein Turna P. Geo 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.

Other

Oriented HQ-diameter diamond drill core from the drill campaign is placed in core boxes by the drill crew contracted by the Company. Core boxes are transported by helicopter to the staging area, and then transported by truck to the core shack. The core is then re-orientated, meterage blocks are checked, meter marks are labelled, Recovery and RQD measurements taken, and primary bedding and secondary structural features including veins, dykes, cleavage, and shears are noted and measured. The core is then described and transcribed in MX DepositTM. Drill holes were planned using Leapfrog GeoTM and QGISTM software and data from the 2017-2019 exploration campaigns. Drill core containing quartz, chlorite-schist, sulphide(s), or notable alteration are sampled in lengths of 0.5 to 1.0 meters. Core samples are cut lengthwise in half, one-half remains in the box and the other half is inserted in a clean plastic bag with a sample tag. Standards, blanks and duplicates were added in the sample stream at a rate of 20%. All samples, including core, rock grabs, channels and talus samples, are transported in rice bags sealed with numbered security tags. A transport company takes them from the core shack to the ALS labs facilities in North Vancouver or MSA labs facilities in Langley. ALS (and MSA) is either Certified to ISO 9001:2008 or Accredited to ISO 17025:2005 in all of its locations. At ALS (and MSA), samples are processed, dried, crushed, and pulverized before analysis using the ME-ICP61 and Au-ICP21 (ICP-130, ICA-5Ag, and FAS-124) methods. Overlimits are re-analyzed using the ME-ICP61, Au-ICP21, and Ag-GRA21 (FAS-428, ICA-6Ag, and FAS-425) methods. If Gold is higher than 5 gpt, the labs will re-analyze using Metallic Screening Au-SCR24C (MSC-150) method. 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.

For more information, please contact:

Juggernaut Exploration Ltd.

Dan Stuart

President and Chief Executive Officer

Tel: (604)-559-8028

www.juggernautexploration.com

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