The company has a total of 6,000 meters of drilling planned for the two properties in a world-class geologic terrane. Drilling includes expansion along strike and to the depth of known mineralization at the high-grade gold-silver-copper shear hosted vein at Bingo, as well as testing the strong Eskay-style Volcanogenic Hosted Massive Sulphide (VHMS) anomaly identified at the Kokomo showing on the Midas property.
BINGO PROPERTY
Bingo Property Highlights: The program on the Bingo property will consist of up to 3000 meters of drilling (from 6 pads and 12 holes) designed to expand the known high-grade gold-silver-copper mineralization along strike and to depth on the
Mapping and prospecting on the property, including the
High-grade gold-silver-copper mineralization has been intersected in multiple inaugural test drill holes in 2023 collared from within the
Results from the 2023 inaugural drill campaign intersected up to 11.42 gpt AuEq (7.57 gpt Au, 20.23 gpt Ag, and 2.72 % Cu) over 5.11 meters.
The broad sulphide-rich mineralized vein consists of semi-massive aggregates and stockwork of chalcopyrite (up to 10 %) and pyrrhotite (up to 10 %), with minor pyrite and galena, part of a shear-hosted vein within a strongly altered diorite unit that remains open to the north, south and to depth.
The maiden drill program of 2023 on this discovery confirmed strong gold-silver-copper mineralization on the Bingo Main outcrop to a depth of 40 meters that remains open, leaving over 90% of the known mineralized corridor untested.
The program on the Bingo property will consist of up to 3000 meters of drilling designed to expand the known high-grade gold-silver-copper mineralization along strike and to depth on the
Results from the 2023 drill season include 4 holes collared from Pad 1 located in the northern part of the
The mineralized shear hosted vein was intersected in a narrow copper-rich interval from a drill hole in the southern part of the
A secondary vein was discovered in outcrop 400 m to the northeast of Pad 1 where two grab samples assayed 7.39 gpt Au and 5.93 gpt Au, respectively. The outcrop is partially covered by overburden, but structural investigations indicate a similar orientation to the main mineralized vein. Both samples collected from this outcrop consist of strongly altered, crackled intrusive with up to 5 % chalcopyrite and 10 % pyrite. This showing will be drill tested with multiple drill holes during the 2024 drill season. A third vein is outcropping 250 m southeast of Pad 1. A grab sample that assayed 1.11 gpt Au collected from this vein consists of a metamorphosed, strongly altered intrusive rock with 5 % pyrite and 1 % chalcopyrite. A number of drill holes have been designed to test this showing in 2024. Deeper drill holes designed to test the contact between a close-by intrusion and the surrounding rocks are also planned for the 2024 drill season.
Recently, a new fold located 1 kilometer to the north of the
Highlights from the high-grade gold Bingo property:
The Bingo Main zone is part of a 550 meters by 350 meters mineralized corridor that remains open with high-grade gold drill samples (11.42 gpt AuEq over 5.11 meters) and surface samples (up to 13.4 gpt Au) locatedalong the axial plane of a fold hinge.
Bingo is located in the Eskay Rift in an evolving gold district in a world-class geologic setting within
Bingo comprises the same world-class geological units as Goliath Resource's Surebet discovery located 15 km to the West, including Hazelton Volcanics and related sediments and intrusive rocks, as well as the same style of mineralization of pyrrhotite, chalcopyrite, and galena, hosted in a similarly oriented west dipping shear zone.
Gold mineralization in drill samples (4 out of 7 holes intersected significant high-grade gold mineralization) and surface outcrops (83 % of surface samples collected contained gold mineralization), stream sediment geochemistry, ground magnetic survey, soil sampling, and other lines of evidence confirm strong gold-mineralization potential on the property.
Mineralization is characterized by aggregates and stockwork of chalcopyrite, pyrrhotite, galena, and pyrite from a shear-hosted vein along which gold-silver-copper rich fluids intruded and altered the host rock.
Recently, a new fold located 1 kilometer to the north of the
The Bingo property is located in a fertile area in the southern part of
Infrastructure includes direct access to tidewater in close proximity to roads and high-tension power.
The Bingo property has an area of 989 hectares and is located 45 km SSW of
MIDAS PROPERTY
Midas Property Highlights
The program on the Midas property will consist of up to 3000 meters of drilling (from 6 pads and 15 drill holes) designed to test the most compelling Volcanogenic Hosted Massive Sulphide (VHMS) target identified on the property to date at the Kokomo showing.2023 Midas Drilling Map Comp
Highlights of the Midas property include the discovery of the gold-silver-copper-zinc rich Kokomo showing (9.343 gpt Au, 117 gpt Ag, 1.58 % Cu, and 1.77 % Zn), 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 the
Extensive broad copper-zinc-gold rich intervals consisting of considerable chalcopyrite and pyrite in aggregates, stringers, and veinlets have been intersected in multiple drill holes from 2023 collared from an area encompassing the VG Zone and Kokomo showing consistent with an Eskay-style VHMS system.
Results from the 2023 drill campaign intersected up to 1.56 gpt AuEq (0.35 gpt Au, 6.10 gpt Ag, 0.64 % Cu, and 0.67 % Zn) over 5.00 meters.
The mineralized horizons consist of aggregates, stringers, and veinlets of chalcopyrite (up to 10 %), sphalerite (up to 5 %), and pyrite (up to 15 %) in a strongly quartz-sericite-altered volcanic host rock consistent with being in close proximity to an Eskay-style VHMS deposit.
The 2023 drill results, in combination with results from previous years, indicate an extensive north-south gold-copper-zinc rich mineralized trend that remains open, extending for 550 m on strike with a large relatively shallow Induced Polarization (IP) chargeability and resistivity anomaly. The gold and base metals component clearly increases towards the Kokomo showing, strongly indicating proximity to the heart of a VHMS deposit. 3D IP inversion map
The program on the Midas property will consist of up to 3000 meters of drilling designed to test the most compelling Volcanogenic Hosted Massive Sulphide (VHMS) target identified on the property to date at the Kokomo showing. 2023 Midas Drilling Map Comp
All three holes collared from Eskay 1 Pad in 2023, located at the transition from the VG Zone to the
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 it is strongly indicated to contain the heart of the gold-rich VHMS system. 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.
Highlights from the Midas Eskay-Style Kokomo VHMS target
The 3D inversion of the 2018 Induced Polarization (IP) data performed by an independent geophysical company highlighted a 120 m by 150 m chargeability anomaly and a 350 m by 200 m resistivity anomaly from surface to 200 m depth that remains open to the South and East conducive for semi-massive to massive sulphides like those confirmed on surface at Kokomo. 3D IP inversion map
Kokomo is an Eskay-style VHMS showing with a 1 m chip sample assaying 9.343 gpt Au, 117 gpt Ag, 1.58 % Cu and 1.77 % Zn. The outcrop remains open in all directions where outcrops of the same or similar lithology extend over several hundred meters.
A BLEG (Bulk Leach Extractable Gold) sample collected 700 m down-slope in the drainage of the Kokomo showing assayed 29 ppb Au, 613 ppb Ag, 137 ppm Cu, 54.4 ppm Pb and 462 ppm Zn, by far the highest sample recorded on the property and is coincident with a similar geochemical signature as the Kokomo showing
Two outcrop grab samples collected within 50 m of the Kokomo showing in 2017 and 2018 assayed 1.835 gpt Au (with 34.4 gpt Ag, 0.84 % Cu, 0.03 % Pb and 0.79 % Zn) and 2.29 gpt Au (with 21.3 gpt Ag, 0.01 gpt Cu, 0.00 % Pb and 0.02 % Zn).
The host rock to the Kokomo showing has been mapped by Juggernaut former senior geologist
In 2019, hole MD-19-24 collared 300 m Southwest of the Kokomo showing with an azimuth of 090 and a dip of 50 intersected the fringes of the chargeability and resistivity anomalies highlighted by the recent 3D inversion of the IP data containing disseminated sulphide mineralization (mainly pyrite and minor sphalerite) in the bottom half of the hole assaying up to 0.293 gpt Au and 2.8 % Zn closest to the Kokomo discovery outcrop.
The geology, geochemistry, alteration, and extensive underlying geophysical anomaly coupled with the high-grade polymetallic Au, Ag, Cu and Zn mineralization in semi-massive to massive sulphides seen in outcrop at Kokomo strongly indicates the potential of a new Eskay-style VHMS discovery.
The Midas property is 100% controlled and covers 20,803 hectares and is located 24 km southeast of
B-ALL SYNDICATE
A large-scale exploration and prospecting program has been prepared in conjunction with the B-ALL Syndicate with the goal of discovering new potential deposits in an area of recent glacial abatement and permanent snow pack recession in
Engagement of Marketing Consultant
Other
Oriented 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.
Contact:
President and Chief Executive Officer
Tel: (604)-559-8028
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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