.Juggernaut Exploration Ltd (TSX-V:JUGR) (OTCQB: JUGRF) (FSE: 4JE) is pleased to report initial results from the maiden drilling on the Kraken vein at its 100% controlled Gold Standard property located on the central coast of British Columbia. All holes drilled on the Kraken vein to date intersected significant intervals of robust sulphide mineralization in quartz veins and/or quartz-chlorite schist of up to 41.43 m wide (in drill hole GSD-22-20). The mineralized intervals consist of pyrite, pyrrhotite and chalcopyrite occurring as stringers and aggregations within massive quartz veins enveloped by strongly foliated mineralized quartz-chlorite schist. Hole GSD-22-20 is part of a series of 7 holes drilled on the Kraken vein that have tested its extent for 80 m along strike and 130 m downdip and remains open. Kraken has been traced on surface for 1 km with 520 meters of vertical relief and remains open.
Kraken vein highlights:
The 2022 inaugural exploration drilling on the Kraken vein consisted of 7 drill holes totalling 1947 m, which were designed to test a small section of the 1000 m long Kraken Vein (80 m along strike and 130 m down dip) where channels samples returned grades of up to 29.48 gpt AuEq over 0.7 m. All holes intersected robust polymetallic sulphide mineralization in quartz veins and/or quartz-chlorite-schist confirming the presence of an extensive orogenic gold system which remains open both along strike and down dip. Drill hole GSD-22-20 (azimuth 180, dip 50) intersected 41.43 m of sulphide mineralization in a massive quartz vein enveloped by strongly foliated quartz-chlorite schist from 43.05 m to 84.40 m. Drill hole GSD-22-21 (azimuth 236, dip 55) was selected in order to intersect both the Kraken vein and the lower lying Phoenix vein. This hole intersected sulphide mineralization in quartz vein and quartz-chlorite schist of the Phoenix vein from 199 m to 206 m about 130 m below the Kraken vein.
Goldzilla vein highlights
The 2022 drill program on the Goldzilla vein was designed to expand the known mineralization in a southeastern direction based on positive results from the 2021 inaugural drill campaign. Drill hole GSD-22-12 (azimuth 140, dip 45) intersected 24.25 m of sulphide mineralization in a massive quartz vein enveloped by strongly foliated quartz-chlorite schist from 213.65 m to 237.90 m. Drilling of the Goldzilla vein in 2021 and 2022 in combination with surface sampling and mapping completed between 2017 and 2019 has confirmed that the mineralization is most prominent in a southeast direction from the Goldzilla Hinge Zone. Drill hole GSD-21-10 intersected 2.146 gpt Au (2.302 gpt AuEq) over 6.5 m characterized by strong pyrite mineralization (with minor chalcopyrite) hosted in a quartz vein enveloped by quartz-chlorite schist. The same mineralogy, textures and alteration are observed in this year’s hole GSD-22-12 drilled in a similar orientation in order to test the continuation of the mineralization along strike to the SE. The compelling visual observation of the mineralized intervals of the core in the new hole expand the strike extent of the drilled Goldzilla vein by 70 m along strike to the SE and up to 55 m down dip (to 870 m total strike extent) confirming the extension of the mineralized system that remains open to the SE and to depth. New drill data also has confirmed the orientation of the vein as predicted by the current model dipping 45 degrees towards the NNE.
Pending assays, the Goldzilla vein has been traced on surface for 870 m with a vertical relief of 320 m. Five potential new pad locations have been scouted and confirmed in a southeast direction focused on testing Goldzilla along strike and to depth potentially expanding the strike extent of the Goldzilla vein to 1.2 km with a vertical relief of 400 m which remains open to the SE and to depth.
Gold Standard property highlights
The Gold Standard property comprises 7 known extensive shear-hosted orogenic quartz-chlorite-sulphide veins up to 20 m wide and 1000 m long outcropping at surface. Of these veins, only a small section of the Kraken, Phoenix and Goldzilla veins has been drill tested to date leaving the majority of this veins untested. (Figure 26)
The initial observation from the 2022 drill program has further confirmed the presence of a strong mineralized system on Goldstandard contained within a district-scale high-stain zone that remain largely unexplored providing for tremendous additional discovery potential. Once assays are received from the 2022 exploratory maiden drilling on the Kraken and Phoenix veins and Phase 2 drilling on the Goldzilla vein, a follow up drill program will be designed focussed on expanding the known mineralization both along strike and to depth on all three vein systems and to test other high-grade veins discovered on the Property that remain to be drill tested such as the nearby Leviathan (measuring 500 m along strike with 50 m of vertical relief, where channel samples assayed up to 3.65 gpt AuEq over 3 m; (Link to Video) and East veins (measuring 600 m along strike with 60 m of vertical relief, where a 3 m chip sample assayed 5.75 gpt Au).
This mineralized orogenic system is part of a regional high-strain zone, a brittle and ductile, sub-vertical shear zone system that is proximal to the boundary between the Intermontane and Insular superterranes, demarked by the Coast Shear Zone and extends for more than 100 km in a NNW-SSE direction (Figure 27). Localization of high strain zones within the system are associated with sheeted, oxidized, sulphide-bearing quartz veins and shear zones that have been identified in outcrop. Discrete gold bearing quartz veins and shears trend up to 1 km in strike with 520 m of vertical extent and are up to 20 m in width. They host variable amounts of gold mineralization, oxidized pyrite and disseminated pyrite with chalcopyrite. Extensive regions of snow-pack abatement and glacial recession along the regional under-explored high stain zone provide for extensive areas recently exposed with excellent discovery potential.
Results from the Gold Standard property have confirmed the presence of a strong gold mineralized orogenic system at surface and at depth where veins occur in an en-echelon pattern to the regional north-northwest orientation of the major shear zones. The prolonged faulting and shearing within this under-explored regional high strain zone on the Gold Standard property provided extensive conduits for mineralizing fluids and favourable sites for mineralization. These orogenic characteristics are consistent with gold-bearing mineralized veins and shear zones. Orogenic gold system are often deep rooted and are mined to depths of 1 to 3 km. Approximately 67 % of Canadian gold production comes from orogenic systems in world class geologic settings, with examples including the nearby Bralorne Pioneer Camp in British Columbia (4.17 Moz) with depths to ~2 km, and many regions within the Canadian shield including Kirkland Lake (>40 Moz), Timmins (>70 Moz), Val d’Or/Noranda (>69 Moz) and Red Lake gold camps (>29 Moz). These gold deposits typically contain average mining grades of 5 gpt Au to 15 gpt Au.
Juggernaut Exploration’s 100 % controlled Gold Standard property is an original discovery with no previous recorded work in the area and is situated 1 km north of tidewater along the Central Coast of British Columbia approximately 4 km from major infrastructure.
Dan Stuart, President and CEO of Juggernaut Exploration, states: “Initial observations of the mineralized core over broad widths in multiple holes all of which hit the target zones at depth and along strike on Kraken, Phoenix and Goldzilla indicates a large orogenic gold mineralizing system at depth. The core observed this season has far exceeded our expectations with mineralization and textures very similar to what has been seen in high-grade channels and drill core samples from past seasons. The Gold Standard property continues to quickly advance in the right direction with strong potential to evolve into the next big gold discovery. There is tremendous untapped discovery potential on Gold Standard and beyond in an unexplored district scale high-strain zone with world class discovery potential. We look forward to assays from Gold Standard with great anticipation and to seeing the drill core from Gold Star located 25 km to the South where drilling has just commenced.”
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.
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