Juggernaut Exploration Ltd. [JUGR-TSXV; JUGRF-OTC] reported results from its 2021 inaugural diamond drill program on its 100%-controlled Gold Star property situated along the central coast of British Columbia.
A total of five shallow exploratory holes were drilled, all of which intersected significant widths of high-grade gold/polymetallic mineralization in quartz-chlorite-sulphide veins on the newly discovered Goldilocks zone. Drill hole GS-21-05 intersected 10.795 g/t gold (14.31 g/t gold equivalent) over 5.5 metres, including 29.2 g/t gold (38.37 g/t AuEq) over 2.0 metres. The Goldilocks zone has been traced on surface for 290 metres with 160 metres of vertical relief before being covered by overburden and remains open both along strike and to depth.
The high-grade core of the Goldilocks zone averages 9.427 g/t AuEq over an average width of 4.1 metres within a broader envelope of gold/polymetallic mineralized quartz chlorite sulphide veins as demonstrated by all five maiden drill holes.
Drill hole GS-21-05 intersected 10.795 g/t gold (14.31 g/t AuEq) over 5.5 metres, including 23.412 g/t gold (30.773 g/t AuEq) over 2.5 metres and 57.563 g/t gold (75.606 g/t AuEq) over 1.0 metres.
Drill hole GS-21-04 intersected 7.497 g/t gold (10.905 g/t AuEq) over 5.5 metres, including 13.493 g/t gold (19.598 g/t AuEq) over 3.0 metres and 38.239 g/t gold (55.918 g/t AuEq) over 1.0 metres.
Drill hole GS-21-02 intersected 6.345 g/t gold (9.294 g/t AuEq) over 3.5 metres, including 7.377 g/t gold (10.735 g/t AuEq) over 3.0 metres and 10.893 g/t gold (15.814 AuEq) over 2.0 metres.
Drill hole GS-21-03 intersected 3.708 g/t gold (6.145 g/t AuEq) over 3.0 metres, including 4.959 g/t gold (6.937 g/t AuEq) over 2 metres and 6.343 g/t gold (8.882 g/t AuEq) over 1.5 metres.
Drill hole GS-21-01 intersected 5.223 g/t gold (6.482 g/t AuEq) over 3.0 metres, including 7.771 g/t gold (9.575 g/t AuEq) over 2.0 metres and 15.140 g/t gold (18.574 g/t AuEq) over 1 metre. Refer to company press release for complete assays.
The 2021 maiden exploration drilling consisted of five shallow drill holes totalling 285 metres, which were designed to test the main Goldilocks outcrop and all holes intersected high gold polymetallic mineralization confirming the presence of a new orogenic gold system, which remains open along strike and downdip.
The Gold Star property is an original discovery with no previous recorded work in the area and is situated 4.5 km east of tidewater approximately 5.5 km from logging access roads, which provides for good access to infrastructure.
Dan Stuart, president and CEO, stated: “Juggernaut and the technical team are extremely excited by the results from the Goldilocks zone. The 2021 maiden drill program has confirmed the discovery of a significant new high-grade gold system that remains open in all directions. With continued exploration success, Goldilocks has strong potential to quickly evolve into the next big gold discovery providing benefits to the shareholders, local stakeholders and first nation.”
Juggernaut has just over 40 million shares issued and outstanding coupled with over $4.4-million in the treasury not including additional exploration rebates.