Juggernaut Intersects 84.50 Meters of Sulphide Mineralization IN First Drill Hole ON Eskay-Style Vhms Kokomo Target, Midas Property , Golden
JUGGERNAUT INTERSECTS 84.50 METERS OF SULPHIDE
MINERALIZATION IN FIRST DRILL HOLE ON ESKAY-STYLE
VHMS KOKOMO TARGET, MIDAS PROPERTY , GOLDEN
TRIANGLE, BC
Vancouver, British Columbia – July 29, 2024 – Juggernaut Exploration Ltd (JUGR.V) (OTCQB: JUGRF) (FSE:
4JE) (the “Company” or “Juggernaut”) is pleased to report that drilling has recently commenced on its 100%
controlled Midas property (the “Property”) where drill hole MD -24-47, the first drill hole of the season
collared from the Kokomo showing, has intercepted 2 meters of semi -massive sulphide (5-7% pyrite, 2%
chalcopyrite and 1% sphalerite) within a broader interval of 84.50 meters of strongly silicified chlorite-schist
with continuous trace sulphide mineralization from 105.90 meters to 190.40 meters downhole. This new drill
intercept contains the same mineralization and textures observed on surface at the Kokomo showing where
a chip sample assayed 9.343 gpt Au, 117 gpt Ag, 1.58 % Cu and 1.77 % Zn.
The Company has a total of 3,000 meters of drilling planne d in 15 drill holes from 6 pad locations on the
Midas property in world-class geologic terrane. Drilling includes testing the strong Eskay-style Volcanogenic
Hosted Massive Sulphide (VHMS) anomaly identified at the Kokomo showing as well as multiple strong
additional VHMS targets in a 550 meters by 350 meters area immediately to the south of the Kokomo
showing that is strongly indicated to contain the heart of the gold rich VHMS system and remains open.
Dan Stuart, President and CEO of Juggernaut Exploration states “The 2024 drill program on the Midas
property has officially commenced and is already showing excellent visual results . We strongly believe that
this year’s drill program will be able to test the most compelling VHMS target identified on the Midas property
to date. With the first successful drill hole completed at Kokomo, we are looking forward to process the drill
core and release initial assay results as soon as they become available.”
Midas Drilling Highlights
• Drill hole MD-24-47 intercepted 2 meters of semi-massive sulphide within a broader interval of 84.50
meters of strongly silicified chlorite-schist with continuous trace sulphide mineralization from 105.90
meters to 190.40 meters downhole.
• Mineralization of the semi -massive sulphide intercept consists of 5 -7% pyrite, 2% chalcopyrite and
1% sphalerite enveloped by an 84.50 meter interval of strongly silicified chlorite -schist with
aggregates and stringers of pyrite and chalcopyrite.
• The new intercept of drill hole MD-24-47 contains the same mineralization and textures observed on
surface at the Kokomo showing where a chip sample assayed 9.343 gpt Au, 117 gpt Ag, 1.58 % Cu
and 1.77 % Zn. Comparison_MD-24-47_kokomo
• The program on the Midas property will consist of ~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 includes 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 VG Zone (2.24 gpt Au,
6.83 gpt Ag, 0.18 % Cu and 1.04 % Zn over 4.80 meters). VHMS Y606015
• 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
Drill hole MD-24-47 (110/50, EOH 187m), the first drill hole of the season collared from the Kokomo showing,
intercepted 2 intervals of strongly silicified chlorite -schist with minor sulphide mineralization. The first
interval from 22.58 meters to 44.74 meters is 22.16 meters long and contains stringers and aggregates of
pyrite and minor chalcopyrite. The second interval from 105.90 meters to 190.40 meters is 84.50 meters long
and is characterized by pyrite and minor chalcopyrite mineralization in stringers and aggregates with a
section of semi -massive sulphide from 154.40 meters to 156.30 meters with 5-7% pyrite, 2% chalcopyrite
and 1% sphalerite. This new drill intercept contains the same mineralization and textures observed on surface
at the Kokomo showing where a chip sample assayed 9.343 gpt Au, 117 gpt Ag, 1.58 % Cu and 1.77 % Zn.
Comparison_MD-24-47_kokomo
The program on the Midas property will consist of ~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 Kokomo
Zone have intersected considerable gold -copper-zinc mineralization and are characterized by copious
amounts of chalcopyrite and pyrite in aggregates, stringers, and veinlets within a strongly altered volcanic
host rock indicating close proximity to an Eskay -style VHMS deposit. 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. 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. 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. 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 by 300 m from
Eskay 1 Pad to the Kokomo showing on strike with a large relatively shallow Induced Polarization (IP)
chargeability and resistivity anomaly. The gold and base metals component clearly increased towards the
Kokomo showing, strongly indicating proximity to the heart of a VHMS deposit. VHMS Y606015
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 350 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 350 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. 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 extensive strong 550 m long I nduced Polarization (IP) chargeability and resistivity
anomalies that remain open , conducive for semi -massive to mas sive 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 Sou th 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. VHMS Y606015
• 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 S.
Roach as well as the British Columbia Geological Survey (BCGS; M. McKeown, J. Nelson and R.
Friedman, 2007) as a rhyolitic tuff with strong phyllic alteration (quartz-sericite-pyrite) from the Mt
Attree volcanics, a unit highly prospective for VHMS deposits.
• 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. (See news release September 30, 2019)
• 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 Terrace,
British Columbia in close proximity to logging access roads, power, railway and major infrastructure. The
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
anomalies extend under the Kokomo showing on trend to the south for at least 550 m towards the Eskay 1
Pad, 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 before it reached the core of a strong
IP chargeability anomaly. 3D IP inversion map
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.
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 biode gradable 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
North Vancouver. ALS is either certified to ISO 9001:2008 or accredi ted 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 perc hloric, 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 analys ed 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 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.
For more information, please contact:
Juggernaut Exploration Ltd.
Dan Stuart
President and Chief Executive Officer
Tel: (604)-559-8028
www.juggernautexploration.com
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