Rackla Metals Commences 2023 Exploration Program on Flagship Astro Project, NWT
Rackla Metals Commences 2023 Exploration Program on Flagship
Astro Project, NWT
Vancouver, British Columbia – June 29, 2023 – Rackla Metals Inc. (TSX-V: RAK) (the “Company”) is pleased
to announce that field crews have mobilized to the Company’s flagship Astro project , located in the
western Northwest Territories, and is on schedule with plans to commence its maiden 3000m drill program
in July.
Highlights:
- The Astro plutonic complex includes the Astro, Ser and Hit projects and covers approximately
22,500 Ha along the highly prospective Tombstone Gold Belt within the Yukon and Northwest
Territories.
- Rackla’s primary target at Astro, the Radio/UV target, benefits from extensive data that has been
used to delineate an initial target for exploration.
o Soil and talus fine sampling revealed a strong gold/bismuth anomaly covering an area over
1,200m by 700m
o High-grade trench results that include up to 30 meters of 17g/t Au on surface.
- Phase 1 drilling will follow up limited historic work where previous operators intersected gold
mineralization within the underlying Tombstone Intrusive body (see figure 1), a feature that is now
believed to be a primary host for mineralization in the district.
Rackla is well underway constructing a road accessible camp on the edge of the Astro Claims that will also
service the Company’s various properties in the Tombstone Belt. The diamond drill is scheduled to arrive
on the property the first week of July , and field crews will be commencing drill pad construction in the
coming days to set up for initial drilling of the Radio/UV target.
The Radio/UV target was discovered by previous operators with a trench that returned 30 meters of over
17 gra ms per tonne gold and associated strong bismuth in hornfelsed sedimentary rocks overlying a
Tombstone Suite granitoid. Soil and talus fine sampling throughout the valley below and up the adjacent
hillsides defined a strong gold/bismuth anomaly covering an area over 1,200m by 700m with a significant
number of samples running over 1 gram per tonne gold . Much of this area is underlain by an intrusive
stock, and while the previous operator focused on testing the sedimentary rocks, it is the belief of Rackla
geologists that it is the intrusive body that is the primary host to the gold mineralization. Initial drilling
will test this hypothesis and combined with geological mapping will define any structural controls on the
gold mineralization.
Suite 650 – 200 Burrard Street
Vancouver BC Canada V6C 3L6
www.racklametals.com
T 604.801.5432
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TF 1.888.627.9378
RAK:TSX.V
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Figure 1 - Cross section from Radio to UV Prospect showing minimal testing of highly anomalous Intrusive
At least three intrusive bodies are present in the Astro plutonic complex and geophysics indicates multiple
other buried extensions or separate bodies. Rackla believes that these intrusive bodies are the geological
feature responsible for the +1 00km2 area exhibiting strong gold in stream anomalies that has attracted
previous operators to the region. The Company’s research has shown that little to no work has taken place
within these intrusive stocks.
Figure 2 - Anomalous Gold in stream sediments surrounding Astro plutonic complex
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The Company will also be conducting an airborne geophysical survey (Precision GeoSurveys Inc.) and a
LiDAR survey ( Eagle Mapping Ltd.) over the entire Astro plutonic complex with extensive boots on the
ground mapping and sampling to better understand the geometry of the intrusives and any st ructural
controls on gold mineralization.
Simon Ridgway, CEO commented: “There is a great deal of anticipation in the team to get on the ground
and make discoveries. We are in an area that is prime hunting ground for large gold systems and work by
previous operators gives us a road map where to go. It is my belief that much of the ground we will be
covering this summer has not seen a rock hammer previously, certainly this drill program will be the first
diamond drilling program ever on the Astro intrusive.
The Company continues to acquire prospects in the belt and during the summer 2023 and we will also be
advancing our other targets located in eastern Yukon and western Northwest Territories.”
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.
About Rackla
Rackla Metals Inc. (TSX -V: RAK) is a Vancouver, Canada based junior gold exploration company. The
Company is targeting RiRGS (Reduced-intrusion Related Gold System) 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 RiRGS 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
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.
Forward-Looking Information
Certain statements contained in this news release constitute forward -looking statements within the meaning of
Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-
looking statements and inc lude, without limitation, statements about the Company’s proposed exploration
activities. Often, but not always, these forward looking statements can be identified by the use of words such as
“estimate”, “estimates”, “estimated”, “potential”, “open”, “futu re”, “assumed”, “projected”, “used”, “detailed”,
“has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”,
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“periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including
negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be materially different from any results,
performance or achievements expressed or implied by forward -looking statements. Such uncertainties and factors
include, among others, changes in general economic conditions and financial markets; the Company or any joint
venture partner not having the financial ability to meet its exploration and development goals; risks associated with
the results of exploration and development activities, estimation of mineral resources and the geology, grade and
continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in
the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on
SEDAR at www.sedar.com. Although the Company has attempted to identify imp ortant factors that could cause
actual actions, events or results to differ materially from those described in forward -looking statements, there may
be other factors that cause actions, events or results to differ from those anticipated, estimated or inten ded.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of
management, including but not limited to: that the Company’s stated goals and planned exploration activities at its
properties will be achieved; that there will be no material adverse change affecting the Company or its properties;
and such other assumptions as set out herein. Forward -looking statements are made as of the date hereof and the
Company disclaims any obligation to update any forw ard-looking statements, whether as a result of new
information, future events or results or otherwise, except as required by law. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, investors should not place undue reliance on forward -looking
statements.