Juggernaut Drills Multiple Intravels of Strong Sulphide Mineralization up to 8.19 Meters – Bingo Property, Golden Triangle, B.C.
2023 DRILLING HIGHLIGHTS:
- Broad sulphide-rich intervals consisting of considerable chalcopyrite and pyrrhotite in stockwork and semi-massive aggregates have been intersected in multiple drill holes collared from the Bingo Main Zone. MAP WITH HIGHLIGHTED DRILL HOLES
- Drill hole BI-23-04 intersected an 8.19 meter interval of strong sulphide mineralization between 42.18 meters and 50.37 meters. BI-23-04 PHOTO
- Drill hole BI-23-01 intersected a 6.89 meter interval of strong sulphide mineralization between 24.39 meters and 31.28 meters. BI-23-01 PHOTO
- Drill hole BI-23-02 intersected a 6.78 meter interval of strong sulphide mineralization between 25.95 meters and 32.73 meters. BI-23-02 PHOTO
- The mineralized horizon consists of semi-massive to stockwork chalcopyrite (up to 10 %) and pyrrhotite (up to 10 %) part of a shear hosted vein within a strongly altered diorite unit that remains open to the north.
- The mineralized shear zone is parallel to the axial plane of a fold identified in the magnetic signature of the Bingo Main Zone. Recently, a new fold located 1 kilometer to the north of the Bingo Main Zone named the Double Down Hinge Zone has been mapped and is being prepared for drilling in 2024. DOUBLE DOWN MAP
- The Company has completed 7 drill holes for the 2023 season totaling 1017 meters.
- Assay results for the drill holes will be released once received compiled and interpreted.
Vancouver, British Columbia – TheNewswire – September 14, 2023 – Juggernaut Exploration Ltd (JUGR.V) (OTC:JUGRF) (FSE:4JE) (the “Company” or “Juggernaut”) is pleased to report the discovery of multiple sulphide-rich intervals up to 8.19 meters long in all drill holes from its 100 % controlled Bingo property (the “Property”), Golden Triangle, British Columbia. All holes collared from the Bingo Main Zone have intersected considerable chalcopyrite and pyrrhotite in stockwork and semi-massive aggregates within a north trending shear hosted vein.
MAP WITH HIGHLIGHTED DRILL HOLES
Three holes collared from the northern part of the Bingo Main Zone intersected broad intervals of chalcopyrite and pyrrhotite mineralization. Drill hole BI-23-04 intersected an 8.19 meter interval of semi-massive to stockwork chalcopyrite (up to 10 %) and pyrrhotite (up to 10 %) between 42.18 meters and 50.37 meters part of a shear hosted vein within a strongly altered diorite unit BI-23-04 PHOTO . The same sulphide mineralized shear-hosted vein was intercepted in hole BI-23-01 from 24.39 meters to 31.28 meters (6.89 meter interval) BI-23-01 PHOTO , and in drill hole BI-23-02 from 25.95 meters to 32.73 meters (6.78 meter interval) BI-23-02 PHOTO . The mineralized shear hosted vein was also intersected in the southern part of the Bingo Main Zone, where it is thinner and less mineralized, suggesting that the thickness of the mineralized horizon increases to the north where it remains open and untested. Mapping has shown that the mineralized shear zone is parallel to the axial plane of a moderate size fold identified in the magnetic signature of the Bingo Main Zone. Recently, a new fold located 1 kilometer to the north of the Bingo Main Zone named the Double Down Hinge Zone has been mapped and is being prepared for drilling in 2024 DOUBLE DOWN MAP .
Drilling on the Bingo Main Zone for the 2023 season has been completed with 7 drill holes totaling 1017 meters. Assay results for these drill holes are anticipated to be received in the immediate future and will be reported once received, compiled, and interpreted.
The Bingo property has an area of 989 hectares and is located 45 km SSW of Stewart, BC and 28 km W of Kitsault, and only 12 km to tidewater landing and roads in the historic mining town of Anyox providing for cost effective exploration. The Bingo Main Zone contains gold mineralized grab, chip and channel samples along the axial plane of a fold hinge over an area of 550 meters x 175 meters in a region of recent glacial retreat and permanent snowpack abatement located within the Eskay Rift region of the Golden Triangle, British Columbia. High-grade gold from surface grab samples assayed up to 9.79 gpt Au. Channel samples assayed up to 1.77 gpt Au and 0.20 % Cu over 4.85 meters and 1.48 gpt Au and 0.37 % Cu over 3.2 meters, respectively. The Bingo property has strong similarities to Goliath Resources’ Surebet Project located next door to the east, including same mineralogy, textures and structures.
Highlights from the high-grade gold Bingo property:
- The Bingo Main zone is 550 meters by 175 meters in size and remains open with high-grade gold samples located along the axial plane of a fold hinge that assayed up to 9.79 gpt Au.
- An additional hinge zone named the Double Down Hinge Zone with similar characteristics is located 1 km to the north.
- Bingo is located in the Eskay Rift in an evolving gold district in a world-class geologic setting within the Golden Triangle of British Columbia, host to several multi-million ounce gold deposits.
- Bingo contains the same world-class geological units as Goliath Resource’s Surebet discovery next door, including Hazelton Volcanics and related sediments and intrusives.
- Gold mineralization in outcrop, stream sediment geochemistry, ground magnetic survey, soil sampling and other lines of evidence confirm strong gold-mineralization on the property.
- Mineralization is characterized by pyrite, chalcopyrite, galena and pyrrhotite.
- Gold-rich fluids intruded and altered the host rock indicating a shear zone.
- The Bingo property is surrounded by a number of known deposits, including Anyox, Surebet , Dolly Varden, Porter Idaho, Premier, and more.
- Infrastructure includes direct access to tide water in close proximity to roads and high-tension power.
Dan Stuart, President and CEO of Juggernaut Exploration states: “All the balls have fallen into place with the 2023 Bingo drill program. The visual results of the core that has been drilled this season have by far exceeded our expectations with broad intervals of chalcopyrite and pyrrhotite mineralization indicating a strong mineralizing system at depth. We are looking forward to receiving assay results and report them as soon as they are compiled and interpreted.”
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 or NQ-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 Deposit. Drill holes were planned using Leapfrog Geo and QGIS software and data from the 2017-2022 exploration campaigns. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration are sampled in lengths of 0.5 to 1.5 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 10%
Grab, channels, chip and talus samples were collected by foot with helicopter assistance. Prospective areas included, but were not limited to, proximity to MINFile locations, placer creek occurrences, regional soil anomalies, and potential gossans based on high-resolution satellite imagery. The rock grab and chip samples were extracted using a rock hammer, or hammer and chisel to expose fresh surfaces and to liberate a sample of anywhere between 0.5 to 5.0 kilograms. All sample sites were flagged with biodegradable flagging tape and marked with the sample number. All sample sites were recorded using hand-held GPS units (accuracy 3-10 meters) and sample ID, easting, northing, elevation, type of sample (outcrop, subcrop, float, talus, chip, grab, etc.) and a description of the rock were recorded on all-weather paper. Samples were then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples including blanks, standards, and duplicate samples were inserted regularly into the sample sequence at a rate of 10%.
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. ALS is either certified to ISO 9001:2008 or accredited to ISO 17025:2005 in all of its locations. At ALS samples were processed, dried, crushed, and pulverized before analysis using the ME-MS61 and Au-SCR21 methods. For the ME-MS61 method, a prepared sample is digested with perchloric, nitric, hydrofluoric and hydrochloric acids. The residue is topped up with dilute hydrochloric acid and analyzed by inductively coupled plasma atomic emission spectrometry. Overlimits were re-analyzed using the ME-OG62 and Ag-GRA21 methods (gravimetric finish). For Au-SCR21 a large volume of sample is needed (typically 1-3kg). The sample is crushed and screened (usually to -106 micron) to separate coarse gold particles from fine material. After screening, two aliquots of the fine fraction are analysed using the traditional fire assay method. The fine fraction is expected to be reasonably homogenous and well represented by the duplicate analyses. The entire coarse fraction is assayed to determine the contribution of the coarse gold.
Some of the reported data is historical in nature and is a compilation of third-party data from previous operators. 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. In addition, the reader is cautioned that proximity to known mineralization does not guarantee similar mineralization will exist on the properties.
For more information, please contact:
Juggernaut Exploration Ltd.
Dan Stuart
President and Chief Executive Officer
Tel: (604)-559-8028
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FORWARD LOOKING STATEMENT
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