Drill hole MD-23-34 collared from Eskay 1 Pad intersected 1.56 gpt AuEq (0.35 gpt Au, 6.10 gpt Ag, 0.64 % Cu and 0.67 % Zn) over 5.00 meters, within 0.68 gpt AuEq (0.22 gpt Au, 2.73 gpt Ag, 0.20 % Cu and 0.38 % Zn) over 22.00 meters. All three holes collared from Eskay 1 Pad located at the transition from the
MAP WITH HIGHLIGHTED DRILL HOLES AND TREND
Drill hole MD-23-34 intersected 1.56 gpt AuEq (0.35 gpt Au, 6.10 gpt Ag, 0.64 % Cu and 0.67 % Zn) over 5.00 meters, within 0.68 gpt AuEq (0.22 gpt Au, 2.73 gpt Ag, 0.20 % Cu and 0.38 % Zn) over 22.00 meters. Additional intervals in this hole include 0.70 gpt AuEq (0.24 gpt Au, 2.93 gpt Ag, 0.64 % Cu and 0.70 % Zn) over 10 meters and 0.54 gpt AuEq (0.18 gpt Au, 1.70 gpt Ag, 0.09 % Cu and 0.53 % Zn) over 8.00 m. MD-23-34 PHOTO. Drill hole MD-23-35 intersected 0.53 gpt AuEq (0.18 gpt Au, 1.64 gpt Ag, 0.11 % Cu and 0.47 % Zn) over 20.00 meters, including 1.41 gpt AuEq (0.38 gpt Au, 3.62 gpt Ag, 0.32 % Cu and 1.40 % Zn) over 3.00 meters and 1.07 gpt AuEq (0.39 gpt Au, 2.48 gpt Ag, 0.28 % Cu and 0.69 % Zn) over 3.00 meters. MD-23-35 PHOTO Drill hole MD-23-36 intersected 1.76 gpt AuEq (0.79 gpt Au, 16.60 gpt Ag, 0.58 % Cu) over 1.00 meter, within 0.45 gpt AuEq (0.19 gpt Au, 4.30 gpt Ag, 0.15 % Cu) over 6.00 meters. An additional interval in this hole assayed 0.29 gpt AuEq (0.16 gpt Au, 1.69 gpt Ag, 0.14 % Zn) over 32 meters. MD-23-36 PHOTO In all three holes, the mineralization is cut off by a north-northeast trending, steeply dipping fault. The mineralized horizon consists of aggregates, stringers, and veinlets of chalcopyrite (up to 10 %) and pyrite (up to 15 %) in a strongly quartz-sericite altered volcanic host rock with occasional foliated portions that align with the north-northeast direction of major faults in the area. A series of meter-size mafic dykes intrude into the mineralized rock.
Drill holes MD-23-34, MD-23-35 and MD-23-36 were collared from Eskay 1 Pad, located 550 m south of the gold-silver-copper-zinc rich Kokomo showing (9.343 gpt Au, 117 gpt Ag, 1.58 % Cu and 1.77 % Zn), 250 m northeast of drill hole MD-19-18 (6.22 m of 0.31 gpt Au, 0.95 m of 1.50 gpt Au with 1.94 % Cu and 3.22 m of 0.36 gpt Au) and 200 m east-northeast of the
2024 Drill Plan
Based on the new results from the 2023 drill program and a thorough compilation of data from previous drill campaigns and exploration programs on the Property, including geochemistry, geophysics and mapping, that have allowed to vector-in and strongly point to the heart of the VHMS system, a drill plan designed to outline the full VHMS potential of the 550 m by 300 m north-south trend between the Eskay 1 Pad and the Kokomo showing has been prepared. The drilling is designed to specifically target the 550 m by 300 m area between the Eskay 1 Pad and the Kokomo showing that is strongly indicated to contain the heart of the gold rich VHMS system. 3D MODEL
Due to a challenging drill environment and an underpowered light drill rig used, the Kokomo target was not able to be tested. The 2024 drilling is designed to overcome the challenges seen in 2023 by using a larger, more powerful drill rig. The Kokomo showing consists of a VHMS style outcrop where a 1 m chip sample assayed 9.343 gpt Au, 117 gpt Ag, 1.58 % Cu and 1.77 % Zn. The outcrop is 5 m wide and strikes on surface for 30 m and remains open and is underlain by an extensive strong 550 m long Induced Polarization (IP) chargeability and resistivity anomaly that remains open, conducive for semi-massive to massive sulphides like those confirmed on surface on the Kokomo showing.
Eskay-Style Kokomo VHMS target
The 3D inversion of the 2018 Induced Polarization data performed by an independent geophysical company highlighted a 120 m by 150 m chargeability anomaly and 350 m by 200 resistivity anomalies from surface to 200 m depth that remain open to the South and East conducive for semi-massive to massive sulphides like those confirmed on surface at Kokomo. Most likely the chargeability (30-70 mrads) and resistivity (100-500 Ohm-m) signature are due to a combination of relatively large volumes of interconnected metallic sulphides such as chalcopyrite and pyrite in combination with slightly more resistive material such as sphalerite and strongly silicified domains.
The Kokomo showing has been mapped by the
The Kokomo target has strong potential to evolve into a significant new VHMS discovery which is supported by known mineralization, grade, alteration and textures observed at surface and most recently by the chargeability and resistivity anomalies highlighted by the 3D inversion of the IP data. The latter is confirmation of the continuation of the system at depth which remains open to the east and to the south making the Kokomo showing a strong drill target.
The Midas Property
The Midas property is 100% controlled and covers 20,803 hectares and is located 24 km southeast of
EMPIRE PROPERTY DRILLING UPDATE
Drilling at the
Other
Oriented HQ-diameter or NQ-diameter diamond drill core from the drill campaign is placed in core boxes by the drill crew contracted by the Company. Core boxes are transported by helicopter to the staging area, and then transported by truck to the core shack. The core is then re-orientated, meterage blocks are checked, meter marks are labelled, Recovery and RQD measurements taken, and primary bedding and secondary structural features including veins, dykes, cleavage, and shears are noted and measured. The core is then described and transcribed in MX Deposit. Drill holes were planned using Leapfrog Geo and QGIS software and data from the 2017-2022 exploration campaigns. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration are sampled in lengths of 0.5 to 1.5 meters. Core samples are cut lengthwise in half, one-half remains in the box and the other half is inserted in a clean plastic bag with a sample tag. Standards, blanks and duplicates were added in the sample stream at a rate of 10%
Grab, channels, chip and talus samples were collected by foot with helicopter assistance. Prospective areas included, but were not limited to, proximity to MINFile locations, placer creek occurrences, regional soil anomalies, and potential gossans based on high-resolution satellite imagery. The rock grab and chip samples were extracted using a rock hammer, or hammer and chisel to expose fresh surfaces and to liberate a sample of anywhere between 0.5 to 5.0 kilograms. All sample sites were flagged with biodegradable flagging tape and marked with the sample number. All sample sites were recorded using hand-held GPS units (accuracy 3-10 meters) and sample ID, easting, northing, elevation, type of sample (outcrop, subcrop, float, talus, chip, grab, etc.) and a description of the rock were recorded on all-weather paper. Samples were then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples including blanks, standards, and duplicate samples were inserted regularly into the sample sequence at a rate of 10%.
All samples, including core, rock grabs, channels, and talus samples, are transported in rice bags sealed with numbered security tags. A transport company takes them from the core shack to the ALS labs facilities in
Some of the reported data is historical in nature and is a compilation of third-party data from previous operators. 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. In addition, the reader is cautioned that proximity to known mineralization does not guarantee similar mineralization will exist on the properties.
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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.
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