Juggernaut Exploration Ltd. (TSX-V:JUGR) is pleased to report that exploratory, drilling on the 100% controlled Midas property has confirmed widespread near surface polymetallic gold mineralization in multiple drill holes targeting newly discovered zones. The drilling confirmed mineralization seen at surface continues to depth and remains open, both along strike and to depth. The most significant gold mineralization confirmed to date was in drill hole MD-18-16, returning assays of 0.56 g/t AuEq over 35.35 meters (Table 1). The assay results of the upper 42.0 meters of this drill hole were completed by rush assay, and the remaining results from drill hole MD-18-16, which terminated at 269 meters, are pending. Recently completed high resolution ground IP and MT data also shows strong, large, well-defined geophysical anomalies at depth, below the mineralized intercepts confirmed with the 2018 shallow drilling. All this data combined provides very compelling evidence of a large gold mineralizing system at depth. These large well-defined anomalies remain to be drilled and provide excellent sub-surface targets with strong gold potential. Future drill campaigns will focus on testing these anomalies and extending the known mineralization to depth/down-plunge, and along strike.
Midas Property Highlights
The King Solomon Trend
The King Solomon Trend is a 2.1 x 1.6 km zone of intense alteration (Figure 1) that is both structurally and strata-bound controlled and ranges from a core of intense silicification and sulphidation with quartz±feldspar-pyrite-(sphalerite-galena-argentite) → quartz-sericite-pyrite → quartz-chlorite-sericite-pyrite → marginal chlorite-epidote±-(sericite-pyrite). Polymetallic gold mineralization is controlled by both intense silica ± (feldspar?) flooding and veining in the form of two closely-spaced silica-sulphide hydrothermal breccias with multiple, stacked quartz-sulphide stockwork and vein systems, which have been mapped in detail and outcrop throughout this large alteration system. Post or syn-alteration deformation appears to have caused significant remobilization of precious and base metals and this event could also be a secondary mineralizing event. The zone has also been subject to a late brittle deformation event. An intensely developed array of first (N) and second order fault structures (NW and NNE) transect the zone (Figure 2), which locally control the continuity of the mineralized zones.
Recently completed IP and MT geophysical data indicate the presence of large coinciding resistivity and chargeability anomalies at depth (Figure 3 & Figure 4), located vertically below this seasons inaugural shallow drilling, where mineralization has been confirmed and remains open to depth and along strike. These anomalies provide excellent drill targets for the next drill campaign.
Table 1 – Drill hole assay results. Widths reported are drilled core lengths and the true widths are not known. For hole location, azimuth, and dip please see Table 2.
|Drill Hole ID||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)||Cu (%)||Pb (%)||Zn (%)||AuEq (g/t)*|
|*AuEq metal values are calculated using: Au $1198.5/oz, Ag $14.315/oz, Cu $2.8132/lb, Pb $0.9049/lb, Zn $1.1068/lb|
Table 2 – Drill collar information
|Drill Hole ID||Zone||Easting*||Northing*||Azimuth||Dip||Length (m)|
|*UTM Zone 9N NAD83|
Empire Property Update
The 2018 Empire exploration and drilling is ongoing and has accomplished the goals established by the geological team. With over 3000 metres of inaugural exploration drilling from 18 planned holes targeting multiple different new zones along the 5 km Inca Trend. The program also included an IP and MT survey, LIDAR survey, magnetic survey, geological mapping, alteration studies, channel sampling, and property wide prospecting that has discovered multiple new zones of mineralization. The widespread bedrock mineralization that continues to be found as snowpack and ice recedes further validates the presence of a large mineralizing system on Empire. Assays from drilling, geochemistry, and alteration study results are pending and will be reported when they have been received, compiled, and interpreted.
A follow-up exploration program to the successful 2017 program was completed on all 6 properties. Again, the program exceeded the goals set and included prospecting, geologic mapping, channel cutting, and alteration studies with the goal of delineating drill targets. Assays, geochemistry, and alteration study results are pending and will be reported when they have been received, compiled, and interpreted.
Mr. Dan Stuart, Director, President and CEO of Juggernaut states:
“We are pleased that we are on target to achieve all of the goals set for the 2018 exploration programs. We are on track to soon complete more than ~5000 meters in 35 planned exploratory holes in the inaugural drilling programs on the Empire and Midas properties. We look forward reporting additional drill results with much anticipation”.
Stephen Roach 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.
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