Juggernaut Midas and Empire property update
December 15 2020 - 7:45AM
Juggernaut Exploration Ltd. (JUGR.V) (OTCQB: JUGRF) (FSE:
4JE)
(the “Company” or “Juggernaut”) (the
“Company” or
“Juggernaut”) is
pleased to announce results from the 2020 field program on the
Empire and Midas Projects in northwest British Columbia.
Empire property update
A short field program in 2020 consisted on
follow up prospecting and mapping on the Goldworks and Metallica
zones within the Inca Trend of the Empire Property. The Goldworks
zone was discovered in 2018 and consists of quartz veins with grab
samples assaying up to 350 gpt Au (10.23 ounces per tonne gold.)
Several North-South, steeply dipping veins have been
identified in the area during the 2020 field program. Ten grab
samples and two channel samples from these veins returned assays
ranging from background to 8.70 gpt Au suggesting the presence of a
feeder system at depth. In 2016 the Company reported a
grab sample from the Metallica zone containing 36,875 gpt Ag (1180
ounces per tonne silver with 4.68 gpt Au, 26.5 % Cu and 3.27 % Zn)
from a massive sulphide vein. A channel cut from the same vein done
in 2017 returned 22,694 gpt Ag (729.63 ounces per tonne silver with
26.4 % Cu and 2.80 % Zn). Gold grades up to 16.4 gpt Au have also
been reported in the Metallica zone. In 2020 the geologic
team completed additional detailed mapping in the Metallica zone in
preparation for a future inaugural drill program.
Ongoing compilation of the datasets, including
LiDAR, SkyTEM, ground IP and MT, airborne magnetic surveys,
geological mapping, alteration studies, and chip/grab/channel
sample assay data, will be utilized to vector future drilling on a
potential feeder source at depth believed to be the source of the
extensive high-grade gold and polymetallic mineralization confirmed
on surface on the Empire Property.
Midas property update
The short 2020 field program focused on testing
structures in the Gazelle Region of the Midas property immediately
South of the King Solomon Trend. New targets generated through
evaluation of LiDAR data obtained in 2018 in combination with
strong geophysical signatures were prospected. A total of 13
samples were collected and results ranged from background
to 0.17 gpt Au with one sample containing 0.13 % Cu and 0.60 %
Cu.
The King Solomon trend has been mapped by the
British Columbia Geological Survey (BCGS; McKeown et al., 2007) as
a conformable sequence of layered Paleozoic felsic to mafic
sub-aqueous volcaniclastic rocks including lenses of massive
sulphide surrounded by an extensive alteration zone consistent with
Volcanic Hosted Massive Sulphide (VHMS) deposits. The Company has
previously exposed the strong potential of the King Solomon Trend
showing that rocks and soil samples have geochemistry consistent
with VHMS deposits. Strong Induced Polarization (IP) and
Magnetotellurics (MT) chargeability and resistivity anomalies have
been tested during drill campaigns in 2018 and 2019 further
improving the characterization of this potential VHMS system.
Integration of the 2020 geochemical and structural field data
coupled with additional compilation and interpretation of all data
will provide a better understanding of the King Solomon Trend in
preparation for drilling.
Mr. Dan Stuart, Director, President and
CEO of Juggernaut states:
“The results of this program and existing data
indicate there remains strong potential for discovery of large
mineralizing systems at depth on both the Empire and Midas
properties. The 2020 results, together with the extensive data sets
acquired through exploration over the past several years will
provide a better understanding and aid in targeting future
drilling.”
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
All rock and channel samples were crushed and
pulverized at MSALABS's laboratory in Terrace, BC. MSALABS is
either Certified to ISO 9001:2008 or Accredited to ISO 17025:2005
in all of its locations. The resulting sample pulps were analyzed
for gold by fire assay and metallic screen fire assay in Langley,
BC. The pulps were also assayed using multi-element aqua regia
digestion at MSALABS's laboratory in Langley, BC. The coarse reject
portions of the rock samples, as well as the pulps, were shipped to
Juggernaut Exploration Ltd's storage facility in Terrace, BC. All
samples were analyzed using MSALABS's assay procedure ICP-130, a
1:1:1 aqua regia digestion with inductively-coupled plasma atomic
emission spectrometry (ICP-AES) or inductively-coupled plasma mass
spectrometry (ICP-MS) finish for 35 elements as well as the FAS-121
lead collection fire assay fusion procedure with atomic absorption
spectroscopy (AAS) finish. Any results greater than 100 ppm for
silver or 10,000 ppm copper, lead and zinc were additionally
assayed using MSALABS's ICA-6xx method particular to each element.
This method used an HNO3-HCl digestion followed by ICP-AES (or
titrimetric and gravimetric analysis). Gold values of greater than
10 ppm Au were assayed by the FAS-425 method which includes a
fire-assay fusion procedure with a gravimetric finish. Samples with
Au grater than 5 ppm were additionally analyzed using metallic
screen fire assay with MSALABS’s MSC-150 or MSC-350 method. QA/QC
samples including blanks, standards, and duplicate samples were
inserted regularly into the sample sequence.
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.
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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
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SECURITIES DESCRIBED IN IT.
For more information please contact:
Juggernaut Exploration Ltd.
Dan Stuart
President and Chief Executive Officer
info@juggernautexploration.com
Website: www.juggernautexploration.com
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