Rackla Metals Closing in on a Reduced Intrusion-related Gold System (RIRGS) on the HIT Property, Yukon
Rackla Metals Closing in on a Reduced Intrusion-related Gold System (RIRGS) on
the HIT Property, Yukon
Vancouver, British Columbia – October 31, 2023 – Rackla Metals Inc. (TSX -V: RAK) (the “Company”) is
pleased to announce that the Company has intersected significant gold mineralization from its maiden
diamond drill program on its 100% owned HIT property in Yukon . The HIT property is located in the
Tombstone Gold Belt at the Yukon-NWT border and is accessible from the North Canol road.
The prope rty is centered around the Canol Trail Stock, a monzogranite intrusion belonging to the
Cretaceous-aged Tungsten Suite intrusions. Cretaceous intrusions in the Tombstone Gold Belt host
significant gold deposits such as the Fort Knox Mine in Alaska (12.1 Moz gold), the Eagle Mine in Yukon
(7.8 Moz gold) and the newly discovered Valley gold occurrence belonging to Snowline Gold Corp.
Rackla completed a comprehensive program at HIT in 2023, including stream sediment, soil, talus and rock
sampling, prospecting , geological mapping, and airborne geophysics to define drill targets. The 2023
program culminated with the drilling of 997 m in 5 holes on 4 separate targets. Theses were the first holes
ever drilled into the Canol Trail Intrusive stock. Below is a summary of significant drill intercepts:
Table 1: Hit Property – significant intercepts of the 2023 drill program.
Holes HIT-003 and HIT-004 were drilled from the same pad, in opposite d irections in the vicinity of the
Mehitabel Prospect, which was historically identified as a copper -gold skarn mineral occurrence in the
sedimentary rocks at the margin of the Canol Trail Stock. The work by Rackla has shown that there is much
more to the occurrence. Mapping and prospecting on surface identified an abundance of sheeted quartz-
sulphide veining in the intrus ion that has been mapped in exposed outcrop over an area that measures
2.2 km by 1.2 km (see September 26, 2023 press release) . Soil and talus sampling in the area of the
occurrence has defined a gold-bismuth-arsenic anomaly that measures 1.5 km by 1.0 km and is open to
the northwest and to the southeast.
Historic and current rock sampling has returned an abundance of samples with greater than 1.0 g/t gold
in the area of the Mehitabel occurrence and in the area of the soil and talus geochemical anomalies
(Figure 1).
From (m) To (m) Interval (m) Au (g/t) As (ppm) Bi (ppm) Te (ppm)
HIT-001 no significant intercepts
HIT-002 no significant intercepts
6.09 135.88 129.79 0.248 52 9 0.6
includes 45.44 61.94 16.50 0.668 28 18 1.7
and 104.86 118.36 13.50 0.607 15 15 1.4
and 134.38 135.88 1.5 2.560 13 97 8.7
131.50 176.96 45.46 0.516 284 12 1.0
includes 164.39 170.30 5.91 2.325 1628 25 1.4
HIT-005 no significant intercepts
HIT-003
HIT-004
Drill Hole
Suite 650 – 200 Burrard Street
Vancouver BC Canada V6C 3L6
www.racklametals.com
T 604.801.5432
F 604.662.8829
TF 1.888.627.9378
RAK:TSX.V
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Figure 1: Hit Property compilation map with 2023 drill hole locations.
The airborne geophysical survey returned the characteristic magnetic signature of Tombstone Gold Belt
RIRGS occurrences: a magnetic low overlying the centre of the intrusion, with magnetic high shoulders
around the margins of the intrusion where the sedimentary country rock has been metasomatized and
the hornfelsed aureole is enriched in the magnetic mineral pyrrhotite.
Rackla is encouraged by the density of sheeted quartz-sulphide veins observed on surface and in the drill
core in holes HIT-003 and HIT-004, which is as high as 55 veins per metre. The veins have variable, but in
some instances wide sericite-carbonate alteration halos. These holes were drilled across the strike of the
veins, with veins striking 135 o and dipping steeply to the west. The cross section in Figure 2 below
illustrates that sheeted quartz-sulphide veins occur throughout both holes and across a total width of 273
m with both holes ending in the vein system. An example of the sheeted veins in drill core from hole HIT-
004 is shown in Figure 3 below and photographs with gold assays indicated on the core for holes HIT-003
and HIT-004 can be viewed at https://racklametals.com/projects/tombstone-gold-belt-properties/#core-
photos .
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Figure 2: Cross Section of drill holes HIT-003 and HIT-004 showing vein density and gold-bearing intervals.
Figure 3: Drill core from hole HIT-004 showing sheeted quartz veins with sericite-carbonate alteration halos around the veins.
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The analytical results of the drill core and surface samples shows a geochemical correlation of gold with
bismuth, tellurium +/-arsenic, which is a further indication of the mineralization at HIT being related to a
Reduced Intrusion-related Gold System.
The Company has completed one field season of work at HIT . Rackla is very excited with these results,
particularly considering how rapidly the target has advanced. The results from the 2023 program will be
used to vector towards the heart of the RIRGS target at HIT. Over the next few months, the Company will
complete a thorough review of the data collected and formulate plans for follow-up drilling in 2024. Rackla
is well funded and has sufficient cash for the commencement of the 2024 drill campaign.
Simon Ridgway, Rackla Metals CEO, commented: “Broad and dense sheeted quartz veining is a
characteristic of the plumbing system for prolific deposits in the Tombstone Gold Belt . Our team is
encouraged by both the vein density and geochemistry intercepted in holes HIT-003 and HIT-004. We are
certainly in or proximal to the carapace of a reduced intrusive that is host to significant sheet ed veining,
much of which is gold bearing. Management is of the opinion there is real potential for an economic RIRGS
deposit to be present within the Canol Trail stock. A significant drill program is planned for the project in
the 2024 season.”
Analytical Procedure
Drilling was generally performed with NQ2-sized equipment. Occasionally drill holes were collared with
HQ2-sized equipment if ground conditions were difficult. Drill core was systematically logged for geological
attributes, photographed and sample intervals identified by a geologist at Rackla’s field camp. Sample s
were generally sampled at 1.5 m intervals, but occasionally shorter intervals were sampled to isolate
features of interest. Samples were collected by cutting the c ore in half along the axis of the core. Field
duplicates were collected at regular intervals by cutting the half core to be sent to the lab into two ¼ core
samples, each with unique sample numbers leaving a consistent record of half core material in the core
box. Standard reference materials were inserted by Rackla personnel at regular intervals into the sample
stream. Samples were delivered by expeditor to ALS Global preparatory facility in Whitehorse, Yukon.
Sample preparation was completed in Whitehorse, with analyses completed in North Vancouver, BC. ALS
Global is an accredited ISO/IEC 17025 and ISO9001 laboratory for quality management.
At the lab, drill core s amples were crushed by ALS to >75% passing below 2 mm and split using a riffle
splitter. 250 g splits were pulverized to >85% passing below 75 microns. 0.5 g of the s ample pulps were
digested with a qua regia and analyzed by an inductively coupled plasma mass spectroscopy and
inductively coupled plasma atomic absorption spectroscopy (ICP-MS+ICP-AES) finish for 5 1-element
analysis (ALS code: ME-MS41). All samples were analysed for gold content by fire assay with a gravimetric
finish on 50 g samples (ALS code: Au-GRA22).
For the purposes of this release, mineralized intervals are defined as runs of mineralization >0.1 g/t Au.
Qualified Person
Scott Casselman, B.Sc., P.Geo., Vice-President Exploration of the Company, is a member of the Association
of Professional Engineers and Geoscientists of British Columbia and is the Company’s Qualified Person as
defined by National Instrument 43 -101. Mr. Casselman has reviewed and approved the technical
information contained in this news release.
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About Rackla
Rackla Metals Inc. (TSX -V: RAK) is a Vancouver, Canada based junior gold exploration company. The
Company is targeting Reduced Intrusion-Related Gold Systems (RIRGS) mineralization on the southeastern
part of the Tombstone Gold B elt in eastern Yukon and we stern Northwest Territories. Management
believes that this area, which is underexplored for R IRGS deposit types, has the potential to be the next
frontier for their discovery.
ON BEHALF OF THE BOARD
Simon Ridgway,
CEO and Director
Tel: (604) 801-5432; Fax: (604) 662-8829
Email: [email protected]
Website: www.racklametals.com
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