Juggernaut Results Confirm Vhms Drill Targets ON Midas – Expands Claim Block
JUGGERNAUT RESULTS CONFIRM VHMS DRILL TARGETS ON
MIDAS – EXPANDS CLAIM BLOCK
Vancouver, British Columbia – December 13, 2022 – Juggernaut Exploration Ltd (JUGR.V) (OTCQB:
JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) is pleased to announce results from the 2022
filed program on the Midas, Gold Standard and Gold Star properties.
2022 MIDAS EXPLORATION PROGRAM
Eskay-style VHMS Target (Kokomo showing) highlights:
• Elight (8) Bulk Leach Extractable Gold (BLEG) samples returned high-grade gold ranging from 24.31
ppb Au to 107.35 ppb Au within a 650 meters by 200 meters area located immediately to the
southeast draining the Kokomo showing and surrounding area along strike. (Midas - Alteration and
BLEG).
• 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 Polarization (IP) chargeability and resistivity anomaly extends under the
Kokomo showing for 120 meters by 150 meters and remains open to the South and East on trend
conducive for semi-massive to massive sulphides. (3D Inversion IP Model Map).
• Alteration zones extracted from Worldview 3 satellite spectral data show a strong silica, iron and
phyllic alteration (quartz -sericite-pyrite) signature coinciding with the Kokomo showing and the
area immediately to the south where high -grade BLEGs were collected, further indicating the
presence of a mineralized VHMS system at depth. (Midas - Alteration and BLEG).
• Regional and local geology highly prospective for VHMS deposits including the presence of a
rhyolitic tuff with strong phyllic alteration (quartz -sericite-pyrite) from the Mt Attree volcanics
which are Mississipian in age. Mississipian age rocks are known to host the majority of significant
VHMS deposits. (Midas - VHMS Mineralization Potential).
• Widespread Zn signature with secondary Au, Ag, Pb, Cu and trace element signature (elevated Au,
Te, As, Sb, Bi, Cd, Hg, Ba). (Midas Geochemistry).
• Midas is within a world class geologic setting with strong potential for Eskay -style VHMS
mineralization
Eight (8) Bulk Leach Extractable Gold (BLEG) samples collected during the 2022 exploration program on Midas
returned significant gold values from 24.31 ppb Au to 107.35 ppb Au within an area measuring 650 meters
by 200 meters located immediately southeast of the Kokomo showing (see (Midas - Alteration and BLEG).
and Table 1). The elevated concentration of high grade BLEG samples in this area coupled with multiple other
lines of evidence confirme d to date strongly indicates the presence of a n extensive buried gold source.
Surface sampling of outcrops over 1.1 km contain assays up to 0.80 gpt Au and 19.55 gpt Ag. The Surface
sampling results indicate they are likely not the source of the high-grade extensive BLEG anomaly observed
over 650 meters from multiple drainages. The results indicate a blind or buried gold mineralized source at
depth of that has been covered by overburden (glacial debris and talus). This hypothesis is further supported
by the relatively shallow Induced Polarization (IP) chargeability and resistivity anomaly at depth that extends
under the Kokomo showing for 120 meters by 150 meters and remains open to the South and East conducive
for semi-massive to massive sulphides like those confirmed at surface on Kokomo (3D Inversion IP Model
Map). Alteration zones extracted from recently acquired Worldview 3 satellite spectral data shows a strong
silica, iron and phyllic alteration signature coinciding with the Kokomo showing and the area where high -
grade BLEGs were collected, further indicating the presence of a mineralized VHMS system at depth (Midas -
Alteration and BLEG ). Additional compilation and interpretation of this year ’s results and results from
previous exploration campaigns is ongoing focused on delineating drill targets. (Midas Summary)
Table 1: Assay results for Bulk Extractable Gold Leach (BLEG) samples
Sample_ID Au ppb Au ppm Ag ppm Cu ppm Pb ppm Zn ppm
W487401 5.94 0.0095 0.32 134 16.55 432
W487402 24.63 0.0498 2.02 205 457 722
W487403 34.05 0.0385 0.6 427 79 480
W487404 24.31 0.03 2.85 353 36.2 219
W487405 47.61 0.0446 0.611 145.5 27.9 122.5
W487406 107.35 0.1215 0.836 498 44.9 235
W487407 42.05 0.0657 1.395 363 45.6 171
W487408 44.13 0.0513 1.455 425 46.6 160.5
Based on additional strong targets generated, the claim block has been expanded from 19,105
hectares to 20,992 hectares.
The Midas property is located 24 km southeast of Terrace, British Columbia in close proximity to
logging access roads, power, railway and major infrastructure. Kokomo is an Eskay-style VHMS
showing that contains high-grade gold-silver polymetallic mineralization in semi-massive to massive
sulphides (chalcopyrite, sphalerite and pyrite) where a 1 m chip sample assayed 9.343 gpt Au, 117
gpt Ag, 1.58 % Cu and 1.77 % Zn. The showing is located in the headwaters of a drainage where a
BLEG sample collected in 2021 assayed 29 ppb Au, 613 ppb Ag, 137 ppm Cu, 54.4 ppm Pb and 462
ppm Zn . The geology, geochemistry, alteration, and extensive underlying geophysical anomaly
confirmed on the Midas property 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
excellent potential for a buried Eskay-style VHMS discovery.
2022 GOLD STANDARD AND GOLD STAR DRILL PROGRAM
Follow up 2022 drilling on the Gold Standard and Gold Star properties did not duplic ate the grades
and widths confirmed in 2021 drilling and or previous surface channel sampling . Anomalous gold
intervals characterized by high concentration of sulphides within shear-hosted massive quartz veins
have been intercepted in drill holes from the 2022 season . Drill results from the Goldzilla vein
returned anomalous gold with grades from background levels up to 2.01 gpt Au over 2.00 meter,
including 1.37 gpt Au over 1.00 meters (GS-22-12), whereas drill samples from the Goldilocks vein
returned grades from background levels up to 1.16 over 1.00 meters (GS-22-06). Additional detailed
data compilation, interpretation and modeling is required to determine the extent and distribution
of the gold mineralization on the Gold Standard and Gold Star properties and understand their
remaining gold potential.
The Gold Standard and the Gold Star properties are original discoveries with no previous recorded
work in the area and are located within a few kilometers of major infrastructure along the Central
Coast of British Columbia. Both properties are situated in a key geologic setting along a regional scale
and under-explored high-strain zone that contains a series of newly discovered gold mineralized
shear-hosted quartz-chlorite-sulphide veins. Extensive regions of snow-pack abatement and glacial
recession along the regional high-strain zone provide for large, recently exposed areas with excellent
discovery potential. The Gold Standard property comprises 7 known extensive veins up to 20 meters
wide and 1000 m long outcropping at surface. Of these veins, only a small section of the Kraken,
Phoenix and Goldzilla veins has been drill tested to date leaving the majority of these veins untested.
The Gold Star property comprises 2 veins up to 10 meters wide and 300 meters long, of which only
one, namely the Goldilocks vein, has been drill tested to date.
Dan Stuart, President and CEO of Juggernaut Exploration, states: “The encouraging results from
earlier exploration campaigns coupled with the strong 2022 BLEG results and the recently reported
IP anomaly in the subsurface on Midas , strongly indicates the potential for an extensive gold
mineralizing system at depth. The exploration results to date demonstrate that we have vectored in
on a potential gold rich VMHS source at depth. Continued compilation and interpretation of the data
will focus on refining drill holes targeting the indicated VMHS at depth. Kokomo is drill ready and
fully permitted for 5 years . The company is looking forward to reporting 2022 exploration results
from our 100% controlled Bingo gold property. The Bingo discovery is drill ready and located in a
world class geological setting in the Golden Triangle, B.C, Canada, within the Eskay rift. The Bingo
property contains an extensive newly discovered gold mineralizing system confirmed in outcrop that
was recently exposed due to glacial and snowpack abatement. The Bingo property has never been
drilled and with continued exploration success the company plans for a maiden drill program for the
summer of 2023 to test this gold discovery both to depth and along strike. Results from Bingo will be
released once they are received compiled and interpreted.”
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 HQ-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 D epositTM. Drill holes were planned
using Leapfrog Geo TM and QGISTM software and data from the 2017 -2019 exploration campaigns.
Drill core containing quartz, chlorite-schist, sulphide(s), or notable alteration are sampled in lengths
of 0.5 to 1.0 meters. Co re 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 20%.
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, n orthing,
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 ge ochemistry 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 accredited to ISO
17025:2005 in all of its locations. At ALS samples were processed, d ried, 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 w ell represented by the duplicate
analyses. The entire coarse fraction is assayed to determine the contribution of the coarse gold.
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.
For more information, please contact:
Juggernaut Exploration Ltd.
Dan Stuart
President and Chief Executive Officer
(604)-559-8028
www.juggernautexploration.com
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