Juggernaut Commences Drilling ON Midas
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JUGGERNAUT COMMENCES DRILLING ON MIDAS
Vancouver, British Columbia – July 18th, 202 3 – Juggernaut Exploration Ltd (JUGR.V) (OTCQB:
JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) is pleased to report drilling has commenced on
its 100% controlled Eskay Style VHMS Midas property. The Company has a total of ~4,500 meters of
drilling planned on Midas in world class geologic terrane all with strong discovery potential. Midas
consists of 20,803 hectares and is located 24 km southeast of Terrace, British Columbia in close
proximity to logging access roads, power, railway and major infrastructure.
The Midas property is located in an area of recent glacial abatement and permanent snowpack
recession at the southern end of the Golden Triangle, British Columbia. Multiple high -grade gold
grab, chips and channel samples were collected from the Kokomo VHMS target where a 1.00 m chip
sample assayed 9.343 gpt Au, 117 gpt Ag, 1.58 % Cu and 1.77 % Zn and is drill ready. Relatively
shallow Induced Polarization (IP) chargeability and resistivity anomaly extends under the Kokomo
Midas 2023 Planned Drill Holes Targeting IP anomaly
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showing on trend to the south for at least 850 meters towards the VG Zone, conducive for a buried
VHMS containing semi-massive to massive sulphides at depth. Channel samples highlights from the
VG Zone include 10.28 gpt Au over 4.34 meters; 15.37 gpt Au over 2 meters; and 5.43 gpt Au over
3.11 meters. Historic drill results from the Midas property include hole MD-18-16 which intersected
the peripheral zone of the IP anomaly core and returned 0.56 g/t AuEq over 35.35 meters; hole MD-
18-08, which assayed 6.85 gpt Au over 9 meters and narrowly missed a strong IP chargeability
anomaly; and hole MD-18-01 which intersected 3.27 gpt AuEq over 4.80 meters and ended bef ore
it reached the core of a strong IP chargeability anomaly
A series of 5 drill targets have been identified in association with the surface mineralization and the
subsurface geophysical IP data on the Midas property along the 850 meter south trending anomaly
connecting the Kokomo target with the VG Zone . These targets are being drill tested with ~4,500
meters of drilling from 7 pad locations.
Midas 2023 Planned Drill Holes Targeting IP anomaly
Highlights from the Midas property:
• Historic drill results from the Midas property include hole MD -18-16 which
intersected the peripheral zone of the IP anomaly and returned 0.56 g/t AuEq over
35.35 meters; hole MD-18-08, which assayed 6.85 gpt Au over 9 meters and narrowly
missed a strong IP chargeability anomaly core; and hole MD-18-01 which intersected
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3.27 gpt AuEq over 4.80 meters and ended before it reached the core of a strong IP
chargeability anomaly.
• Channel samples highlights from the VG Zone include 10.28 gpt Au over 4.34 meters;
15.37 gpt Au over 2 meters; and 5.43 gpt Au over 3.11 meters.
• Multiple high-grade gold grab, chips and channel samples including Kokomo showing
where a 1 m chip sample assayed 9.343 gpt Au, 117 gpt Ag, 1.58 % Cu and 1.77 % Zn.
• Relatively shallow Induced Po larization (IP) chargeability and resistivity anomaly
extends under the Kokomo showing for at least 850 meters on trend to the south
conducive for semi-massive to massive sulphides.
• Alteration zones extracted from Worldview 3 satellite spectral data show a strong
silica, iron and phyllic alteration (quartz -sericite-pyrite) signature overlapping the
Kokomo showing and the 850-meter trend immediately to the south and east
coinciding with the IP anomaly in the subsurface, further indicating the presence of a
mineralized VHMS system at depth.
• Regional and local geology is highly prospective for VHMS deposits including the
presence of a rhyolitic tuff with strong phyllic alteration (quartz-sericite-pyrite) from
the Mt Attr ee volcanics which are Mississippian in age. Mississippian age rocks are
known to host the majority of significant VHMS deposits.
• Widespread Zn signature with secondary Au, Ag, Pb, Cu and trace element signature
(elevated Au, Te, As, Sb, Bi, Cd, Hg, Ba).
• Midas is within a world class geologic setting with strong potential for Eskay -style
VHMS mineralization.
Dan Stuart, President and CEO of Juggernaut Exploration states “We are excited to begin drilling
on Midas. We designed what we believe is a strong drill plan for the High-Grade Gold targets with
world class discovery potential in areas that have not been drill tested before. The planned program
that consists of ~ 4,500 meters of drilling on Midas has commenced e arly this year due to
exceptionally good weather across Northwestern B.C. With much anticipation, we look forward to
reporting results. Furthermore, drilling is imminent on both the Bingo property hosted in the same
world-class geological units as Goliath Reso urce's Surebet discovery next do or and the Empire
property where outcrop assayed up to 36,875 gpt Ag (1180 ounces per ton silver), 4.68 gpt Au, 27.6%
Cu and 3.27% Zn (This is one of the highest silver samples collected from outcrop in Canadian
history).”
Qualified Person
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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Other
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 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 North Vancouver. ALS is either certified to ISO 9001:2008 or accredited to ISO 17025:2005
in all of its locations. At ALS samples were processed, dried, crushed, and pulverized before analysis
using the ME -MS61 and Au -SCR21 methods. For the ME -MS61 method, a prepared sample is
digested with perchloric, nitric, hydrofluoric and hydrochloric acids. The residue is topped up with
dilute hydrochloric acid and analyzed by inductively coupled plasma atomic emission spectrometry.
Overlimits were re-analyzed using the ME-OG62 and Ag-GRA21 methods (gravimetric finish). For Au-
SCR21 a large volume of sample is needed (typically 1 -3kg). The sample is crushed and screened
(usually to -106 micron) to separate coarse gold particles from fine material. After screening, two
aliquots of the fine fraction are analysed using the traditional fire assay method. The fine fraction is
expected to be reasonably homogenous and well represented by the duplicate analyses. The entire
coarse fraction is assayed to determine the contribution of the coarse gold.
Some of the reported data is hi storical 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.
For more information, please contact:
Juggernaut Exploration Ltd.
Dan Stuart
President, Chief Executive Officer and Director
Tel: (604)-559-8028
www.juggernautexploration.com
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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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