Rackla Metals Defines Drill Targets at Astro, increases land holdings
Rackla Metals Defines Drill Targets at Astro, increases land holdings
Vancouver, British Columbia – March 1, 2023 – Rackla Metals Inc. (TSXV-RAK) (the “Company”) is pleased
to announce it has increased the size of the Astro property with the staking of claims that cover 822
hectares. This new claim block connects the Company’s land holdings between the Hit and the Astro
border intrusive centres, where strong stream geochemistry and geophysics indicate a relationship
between these two exposed intrusive bodies.
Over the past few months, the Company has worked up the extensive data packages generated by
previous operators on the properties presently under Rackla’s control and the resulting targets are
compelling. At Astro, the principal target area is the Radio Target where soil and talus geochemical
sampling has defined a strong gold anomaly measuring 1,600m X 750m. This anomaly is underlain by an
intrusive body that has never been tested by drilling or trenching. A significant number of the soil samples
returned values over 1,000 ppb gold. The chemistry in these samples shows a strong correlation of gold
with bismuth, tellurium, tungsten, arsenic and tin, which are indications that the mineralization is
associated with a Reduced Intrusion -Related Gold System (RIRGS). The consistency and str ength of the
anomaly over the central target area is impressive.
Astro Project – Compilation map with new claim block location
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The new claim block covers th e area to the west of the gold -in-soil anomaly, where scattered sampling
previously completed indicates an extension of the gold anomaly. The Company’s 2023 exploration
program will extend the soil grid to cover this area between the Astro and the Hit pro perties. The
Company is fully permitted to drill in the Northwest Territories and drilling will commence there early in
the summer program. An application has been made for a Class 1 permit to allow for drilling across the
border in the Yukon Territory, as well.
The Company will also be undertaking an airborne geophysical survey which will tie -in to data from the
Astro property (Newmont JV, 2019) with historic surveys completed over the Hit property (Aben
Resources, 2011), and to cover the surrounding area north a nd east of the mapped intrusive bodies to
help to complete the geological picture. Rackla is in the process of compiling the historical data from the
previous operators, including detailed geological mapping, surface and downhole geochemistry, which
will be used to define further drill targets where stream and soil geochemistry has indicated potential.
Southwest of the Astro and Hit properties, on the Ser claim group, stream sediment sampling has returned
values of over 500 ppb Au from streams draining a small intrusive stock. This anomaly has not been
followed up. The Company is compiling information from this site, with the intention of conducting follow-
up soil sampling, prospecting and geological mapping in 2023.
Simon Ridgway, CEO of Rackla, states, “I believe there is potential for significant gold discoveries to be
made in this neglected area of the Tintina gold belt by boots on the ground exploration. We will be putting
a lot of geologists out in the field to follow up on previously identified target areas.”
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.
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 include, without limitation, statements about the Company’s planned 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”, “future ”, “assumed”, “projected”, “used”, “detailed”, “has been”,
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“gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”,
or statements that events, “could” or “should” occur or be achieved and simil ar 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, whether the Company’s exploration activities will proceed as planned; 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 g eology, 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 important 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 intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectatio ns 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 forward -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 pl ace undue reliance on forward -looking
statements.