VANCOUVER, British Columbia, July 31, 2018 (GLOBE NEWSWIRE) -- Juggernaut Exploration Ltd. (JUGR.V) (the “Company” or “Juggernaut”) is pleased to report it has commenced diamond drilling and IP programs on its Empire property, 40 km northeast of Terrace British Columbia.
JUGGERNAUT PROGRAM HIGHLIGHTS:
- Inaugural drill program started on Empire at the MaxMin zone
- 2018 IP survey at Big One identifies significant chargeability anomaly in the subsurface coincident with the airborne EM anomaly
- New Jay-Bear zoned discovered on Empire that is situated on regional northwest trending geophysically indicated structure
- Diamond drilling will commence August 7th on Midas.
MAX MIN AND METALWORKS ZONE EXPLORATION UPDATE
The drill program will start on the Max Min Zone (Link to Drill Pad photo at Max Min) which measures 170 m by 100 m and remains open in all directions, including to depth. Channel highlights from Max Min include 4.8 gpt Au, 0.26 % Cu, 3.73 % Zn, 4.85 % Pb over 4.6 meters that ended in mineralization (see Nov 29th Press Release).
The Empire inaugural drill program will focus on targeting the widespread gold and polymetallic mineralized zones along the 5.5 km Inca Trend (link to new Empire map). The mineralization and alteration at Max Min and Metalworks (Link to Drill Pad Photos at Metalworks) at the northern end of the Inca Trend, strongly indicates the presence of a polymetallic feeder system at depth. Towards the southern end on the Inca Trend, at Rockstar, the mineralization and alteration are more typical of a volcanic massive sulphide mineralizing system; the same can also be said for the Big One zone to the north.
BIG ONE EXPLORATION UPDATE
The Big One target is a strongly conductive, subsurface tabular body consistent with a VMS target (see Feb 12th Press Release) (Link to 3D Big One Video). The 2018 ground IP program just completed on the Big One target also identified a significant chargeability anomaly in the subsurface that is coincident with the 2017 SkyTem survey EM anomaly. Drill collars and pads are being sited and built in preparation for drilling this VMS target in the immediate future.
ROCKSTAR ZONE UPDATE
Mapping, prospecting, IP, and channel sampling remains ongoing over an area of 1.5 km by 550 metres, and many new areas containing mineralization have been found in 2018. Drill collars and pads are being sited and built in preparation for testing the mineralization to depth and along strike (link to new Rockstar discovery video).
NEWLY DISCOVERED J-BEAR ZONE ON EMPIRE PROPERTY
Initial prospecting on Empire has already resulted in the discovery of the new J-Bear Zone in an area of receding snowpack and ice. The J-Bear Zone was discovered along a regional northwest trending magnetic high. Grab and channel samples from this zone contained massive chalcopyrite and bornite and were collected over an area of approximately 150 metres by 20 metres (link to new J-Bear zone video). The J-Bear Zone remains open and the area will be mapped and prospected as the snow and ice continue to recede. Assays results are pending.
MIDAS PROPERTY EXPLORATION UPDATE
The Midas property is located in a world class geologic setting and contains the King Solomon zone, a 2.1 by 1.6 km region that is defined by widespread bedrock-hosted, polymetallic and gold mineralized channel, chip and grab samples. The widespread gold and polymetallic mineralized showings, anomalous soil geochemistry and extensive alteration suggest the King Solomon Zone may be the surface expression of a significant hydrothermal system.
Juggernaut plans to begin its inaugural drill program on Midas with a second drill rig set to start within a week. Drilling will target several zones of bedrock polymetallic and gold mineralization on the King Solomon Zone that contains channel cuts of up to 4.43 meters of 10.28 grams per tonne gold (see Jan 15th Press Release).
Mr. Dan Stuart, Director, President and CEO of Juggernaut states:
“We look forward to reporting drill results from these exciting new discoveries from both the Empire and Midas properties with much anticipation.”
Stefan Kruse, Ph.D., P. Geo., Chief Geologist, 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.
All rock, channel and talus fine samples were crushed and pulverized at ALS Canada Ltd.’s lab in Terrace, BC or in Reno Nevada. ALS 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 in Reno, Nevada or in Vancouver, BC. The pulps were also assayed using multi-element aqua regia digestion at ALS Canada Ltd.’s lab in Vancouver, BC. The silt samples were sieved and assayed at ALS Canada Ltd.’s lab in Vancouver, BC. The coarse reject portions of the rock, channel and talus fine samples, as well as the pulps, were shipped to J2 Syndicate’s storage facility in Terrace, BC. The silt samples were disposed of after analysis. All samples were analyzed using ALS Canada Ltd.’s assay procedure ME-ICP41, 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 Au-AA24 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 ALS’s OG46 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 Au-GRA22 method which includes a fire-assay fusion procedure with a gravimetric finish. Blanks and duplicates QA/QC samples were inserted into channels sample laboratory batches. Additionally, and 10% sub-sample of pulp and reject material was sent to Activation Laboratories in Ancaster Ontario, for check-analysis.
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:
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD LOOKING STATEMENTS
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.