Juggeranut Drills New GOLD Zone Grading 6.85 G/T Au over 9.0 Metres ON Midas
JUGGERANUT DRILLS NEW GOLD ZONE GRADING 6.85 G/T AU OVER 9.0 METRES ON MIDAS
Vancouver, British Columbia – January 8th, 2019 – Juggernaut Exploration Ltd. (JUGR.V) ( the
“Company” or “Juggernaut”) is pleased to report the discovery of a new high-grade gold zone
on its 100 % controlled Midas property, where diamond drill hole MD-18-08 intersected 6.85
g/t Au over 9.0 m between 35.0 and 44.0 meters downhole. This shallow gold mineralization is
believed to be peripheral and marginal to a deeper feeder source, as indicated by the core of a
large multi-line, newly identified IP anomaly, located ~125 meters below the surface . This
buried core underlies an area of this anomaly, that is situated 150 meters north of hole MD-18-
08, under drill hole MD -18-16 from 1.5 to 36.85 meters down-hole. The discovery of this new
zone, located within a regional world class VHMS setting, confirms the strong potential for the
Midas property to host a significant discover y (Figure 1) . The 2018 mapping, geochemistry,
alteration studies, and geophysics , combined with the inaugural exploratory shallow drilling,
was designed to expand the understanding of the controls o n mineralization and the geological
model. The 2018 drilling targeted eight surface targets identified within the extensive 2.1 km by
1.6 km King Solomon Trend. The 2019 drill program will focus on exp anding the discoveries,
both to depth and along strike , drilling the buried core(s) of the newly identified large , sub-
surface IP chargeability and resistivity anomalies. These buried core(s) are believed to be the
feeder source to the shallow structurally related polymetallic mineralization seen on surface
and in the 2018 shallow drilling.
Figure 1 - Simplified VHMS Model (modified after Olson & Lodge – 2016)
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Midas 2018 Highlights
• Inaugural exploratory wide -spaced shallow drilling totaling 1977 metres from 16 holes
was successfully completed on the Midas property targeting the surface mineralization
over a strike length of 834 metres (Figure 2).
• All 16 drill holes on Midas interse cted gold and polymetallic mineralization, further
confirming the strong potential for a significant feeder source at depth.
• 25% of the drill holes returned significant intercepts of gold and polymetallic
mineralization as tabulated below.
Table 1 – 2018 Drill Hole Assay Highlights
Drill Hole ID
From (m)
To
(m)
Interval
(m)
Au
(g/t)
Ag
(g/t) Cu (%) Pb (%) Zn (%)
AuEq
(g/t)*
MD-18-011 2.80 7.60 4.80 2.24 6.83 0.18 0.08 1.04 3.27
Including1 2.80 3.60 0.80 12.80 37.20 0.80 0.49 5.54 18.11
MD-18-08 35.0 44.0 9.0 6.85 1.52 0.07 0.03 0.09 7.04
Including 35.0 40.15 5.15 11.85 1.35 0.04 0.00 0.06 11.96
Including 36.0 37.0 1.0 60.4 5.30 0.06 0.00 0.14 60.64
MD-18-11 69.20 70.27 1.07 5.21 15.62 3.49 0.00 0.06 10.53
MD-18-161 1.50 36.85 35.35 0.21 0.18 0.08 0.02 0.32 0.55
*AuEq metal values were calculated using: Au $126.51/oz, Ag $14.675/oz, Cu $2.6903/lb, Pb $0.8963/lb, Zn $1.1499/lb
1Drill hole was reported in October 9th Press Release
• The King Solomon Trend is a 2.1 x 1.6 km zone of intense alteration (silicification and
sulphidation) and deformation that is associated with gold and polymetallic
mineralization.
• Newly acquired and modeled MT and IP data shows large, strong chargeability and
corresponding low resistivity anomalies at depth that are believed to be the large feeder
source of the widespread polymetallic gold mineralization confirmed with the near
surface 2018 drilling (Figure 3, Figure 4, & Figure 5).
o The anomalies become larger to the south and remain open
o Future campaigns will focus on drilling the core of the large IP anomalies and
tracing the known mineralization to depth/down-plunge, and along strike.
The Midas property is underlain by the Paleozoic Mount Attree volcanic complex. Work by the
British Columbia Geological Survey (BCGS; McKeown et al., 2007) documented a zone of intense
gossan development and quartz -sericite±chlorite-pyrite alteration covering an area at least 10
by 18 kilometres in size. Fracture-fill and stringers of quartz-pyrite-sphalerite-argentite
-chalcopyrite-galena v eins and stockwork, with silicified bre ccias and silicified zones, are
characteristic of near -surface mineralized structural zones at the core of the King Solomon
Trend.
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Table 2 – 2018 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)*
MD-18-011 2.80 7.60 4.80 2.24 6.83 0.18 0.08 1.04 3.27
Including1 2.80 3.60 0.80 12.80 37.20 0.80 0.49 5.54 18.11
MD-18-02 4.25 4.75 0.50 0.85 2.50 0.00 0.00 0.38 1.11
MD-18-02 31.30 36.70 5.40 0.33 0.85 0.03 0.00 0.03 0.40
MD-18-02 56.20 58.65 2.45 0.25 1.81 0.19 0.00 0.05 0.58
MD-18-03 5.00 5.90 0.90 1.63 1.10 0.17 0.00 0.37 2.12
MD-18-03 33.60 36.30 2.70 0.14 0.42 0.01 0.00 0.01 0.17
MD-18-04 19.00 20.50 1.50 0.15 2.30 0.72 0.00 0.28 1.40
MD-18-04 40.50 42.15 1.65 0.32 4.18 0.42 0.00 0.13 1.07
MD-18-04 74.00 74.50 0.50 2.53 0.30 0.12 0.00 0.01 2.71
MD-18-051 61.85 63.40 1.55 0.22 2.92 0.47 0.00 0.00 0.94
MD-18-051 75.80 77.20 1.40 0.30 2.10 0.42 0.00 0.10 0.99
MD-18-06 14.00 15.40 1.40 0.22 5.19 0.05 0.27 0.42 0.74
MD-18-06 42.00 45.00 3.00 0.28 1.27 0.02 0.01 0.11 0.40
MD-18-07 56.50 57.00 0.50 0.38 3.30 0.02 0.20 1.64 1.56
MD-18-07 70.00 71.00 1.00 0.49 2.50 0.01 0.03 0.06 0.58
MD-18-08 13.00 16.00 3.00 0.64 1.70 0.06 0.00 0.36 0.98
MD-18-08 35.00 44.00 9.0 6.85 1.52 0.07 0.03 0.09 7.04
Including 35.00 40.15 5.15 11.85 1.35 0.04 0.00 0.06 11.96
Including 36.0- 37.00 1.0 60.4 5.30 0.06 0.00 0.14 60.64
MD-18-08 52.00 54.00 2.00 0.20 1.15 0.02 0.00 0.03 0.26
MD-18-091 110.50 113.00 2.50 0.24 4.36 0.08 0.07 0.55 0.79
MD-18-10 7.00 9.30 2.30 0.20 2.85 0.03 0.00 0.40 0.53
MD-18-11 2.35 5.35 3.00 0.19 2.41 0.10 0.02 0.16 0.47
MD-18-11 16.60 17.35 0.75 1.00 7.60 0.16 0.01 0.56 1.68
MD-18-11 25.00 25.60 0.60 0.41 0.80 0.11 0.00 0.04 0.61
MD-18-11 69.20 70.27 1.07 5.21 15.62 3.49 0.00 0.06 10.53
MD-18-11 88.00 91.90 3.90 0.24 0.70 0.12 0.00 0.02 0.44
MD-18-12 0.80 3.50 2.70 0.22 2.13 0.09 0.02 0.21 0.51
MD-18-131 16.70 25.00 8.30 0.19 1.79 0.04 0.01 0.08 0.32
MD-18-131 37.00 37.50 0.50 3.49 12.50 0.31 0.00 0.18 4.21
MD-18-14 1.00 2.12 1.12 0.31 2.47 0.03 0.03 0.48 0.70
MD-18-14 59.50 60.00 0.50 0.44 5.30 0.19 0.01 0.25 0.94
MD-18-15 20.50 21.00 0.50 0.18 1.00 0.01 0.07 0.31 0.43
MD-18-15 27.00 28.00 1.00 0.18 0.40 0.00 0.00 0.01 0.20
MD-18-15 35.80 37.65 1.85 0.14 1.92 0.01 0.01 0.05 0.22
MD-18-15 39.30 40.15 0.85 0.16 1.80 0.00 0.00 0.02 0.19
MD-18-161 1.50 36.85 35.35 0.21 0.18 0.08 0.02 0.32 0.55
*AuEq metal values were calculated using: Au $126.51/oz, Ag $14.675/oz, Cu $2.6903/lb, Pb $0.8963/lb, Zn $1.1499/lb
1Drill hole was reported in October 9th Press Release
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This is part of a larger regional play, where stratiform lenses and horizons of massive to semi -
massive sulfides occur at several sites. These observations are similar to those drawn by the
BCGS who interpreted the mineralization to represent a volcanic -hosted massive sulphide
feeder zone below the seafloor. Higher copper values may indicate a more proximal setting and
2018 chip, channel, and grab sampling in both the west and east of the King Solomon Trend
returned such copper results. This area also corresponds with strong, extensive, multi -line,
north-south IP anomalies, especially in the southwest part of the trend. This area is reflected by
sodium-depleted iron-rich chloritic alteration, which returned anomalous Zn -Cu-Ag, in a coarse
felsic fragmental sequence. Although partially outlined by the IP survey over 700 meters, there
is the potential of excellent continuity along strike to the south and at depth with multiple,
stacked, and buried chargeability IP anomalies (Figure 3, Figure 4, & Figure 5).
A similar sub-surface anomaly was also identified and reported in the October 9th Press Release.
Several new lines of evidence from the 2018 data strongly indicate that these buried IP
anomalies are likely the feeder source to the widespread structurally controlled gold and
polymetallic mineralization hosted in a hydrotherma l breccia body seen on surface and in the
shallow drill holes. This mineralization is believed to have been remobilized and peripheral to
the core of the main polymetallic source. Drilling in 2019 will be the first to test the core of
these anomalies and trace the known mineralization to depth/down-plunge, and along strike to
its source.
Table 3 - Drill Collar Information
Drill Hole ID Zone Easting* Northing* Azimuth Dip Length (m)
MD-18-011 King Solomon 543150.4 6022781 270 -45 32
MD-18-02 King Solomon 543150 6022781 270 -60 90
MD-18-03 King Solomon 543150 6022781 270 -75 93
MD-18-04 King Solomon 543249 6022709 270 -45 85
MD-18-051 King Solomon 543249 6022709 270 -65 183
MD-18-06 King Solomon 543069 6023299 270 -45 64
MD-18-07 King Solomon 543069 6023299 270 -65 84
MD-18-08 King Solomon 543249 6022709 270 -55 193
MD-18-091 King Solomon 543062 6023322 80 -48 122
MD-18-10 King Solomon 543062 6023322 90 -65 90
MD-18-11 King Solomon 543231 6022782 270 -48 120
MD-18-12 King Solomon 543231 6022782 270 -65 160
MD-18-131 King Solomon 543231 6022782 90 -48 161
MD-18-14 King Solomon 543287 6022859 270 -50 169
MD-18-15 King Solomon 543014 6023543 90 -48 62
MD-18-161 King Solomon 543334 6022835 270 -50 269
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*UTM Zone 9N NAD83
1Drill hole was reported in October 9th Press Release
Mr. Dan Stuart, Director, President and CEO of Juggernaut states:
“We are pleased with the results from this year’s program and with the discovery of another new near
surface high-grade gold-zone on King Solomon. We have bar ely begun to scratch the surface with our
inaugural exploration drilling and could be seeing just the tip of the iceberg. It clearly demonstrates the
tremendous untapped potential of this extensive polymetallic gold system. Midas is located in a world
class geologic setting with excellent potential for a significant VMS discovery, all in close proximity to
both roads and infrastructure, and we look forward to continu e drilling this discovery in order to outline
its full extent both to depth and along strike. This geologic setting and model have proven to host
multiple world class deposits, including the Eskay Creek high grade gold VMS deposit. Northwestern
British Columbia continues to provide new disc overies and attract significant interest and commitment
from both senior miners and exploration companies alike. The Midas project is still in its infancy with
only 1977 meters of wide spaced shallow exploratory drilling completed in 2018 with the majorit y of the
King Solomon Trend remains to be drill tested. The many layers of new data point to clearly defined
targets at depth for the 2019 drilling and we are now well positioned to unlock the tremendous
untapped potential of the Midas property. The King Solomon Trend has shown it has the right
ingredients required – location, grade, dimensions, geology, geophysics and geochemistry – to quickly
develop into the next big discovery. We look forward to the fully funded 2019 drill program on Midas
with great anticipation.”
Qualified Person
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.
Other
All samples were crushed and pulveri zed at Activation Laboratories Ltd.’s (Actlabs) ISO 17025
accredited geochemistry lab in Kamloops, BC. Rock and drill core samples are crushed, split and
pulverized to 250 g pulp, 150 mesh. The sample pulps were analyzed for gold by fire assay as
per ActLa bs (Code 1A2 -50) Fire Assay AA (QOP AA -Au) method and were also assayed using
multi-element aqua regia digestion. All samples were analyzed using ActLabs assay procedure
Code UT -1M, an aqua regia (partial) digestion with inductively -coupled plasma mass
spectrometry (ICP-MS) finish for 36 elements. Over -limit samples were reanalyzed by fire assay
with a gravimetric finish (code 1A3 -50). Rigorous procedures are in place regarding sample
collection, chain of custody and data entry. QA/QC samples including bla nks, standards, and
duplicate samples were inserted regularly into the sample sequence.
For more information please contact:
Juggernaut Exploration Ltd.
Mr Dan Stuart
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President and Chief Executive Officer
Tel: (778) 223-0293
Website: https://juggernautexploration.com
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