Rackla Metals Defines New Reduced Intrusion-Related Gold System at Kelvin Stock - Maiden Drill Program planned for June 2024
Rackla Metals Defines New Reduced Intrusion-Related Gold System at Kelvin
Stock - Maiden Drill Program planned for June 2024
Vancouver, British Columbia – April 1, 2024 – Rackla Metals Inc. (TSX-V: RAK) (the “Company”) is
pleased to announce the results of the 2023 exploration program on the Peak target in the Kelvin
Stock intrusive bodies of the Astro Plutonic Complex, Yukon and the 2024 drill p lans for the
property.
In 2023, the Company completed a comprehensive exploration program on the property that
included an airborne geophysical survey, stream sediment, soil (talus -fine) and rock sampling,
prospecting, and mapping. Rackla is extremely pleased with the results obtained, which are
particularly impressive considering it was the Company’s first year working on the project, having
acquired an option on the property in the fall of 2022.
The results highlighted that the mineralization discovered within the Kelvin Stock is related to a
Reduced Intrusion-Related Gold System (RIRGS). The geophysical signature of the target exhibits
features characteristic of an RIRGS – a magnetic low in the centre of the reduced intrusion
surrounded by magnetic high shoulders caused by contact alteration in the contact aureole. The
magnetic low extends eastward under sedimentary cover in the area of the Peak target and the
Company believes this represents an area where there is thin sedimentary cover overlying the
causative intrusion.
Kelvin Stock 2023 airborne geophysical survey magnetic response (Reduced to the Pole, RTP).
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The stream sediment sampling program (43 samples) highlighted the Peak target area as
anomalous for gold, arsenic, and bismuth, with a good correlation among these elements and
very strong gold in stream sediments.
Rackla collected 314 talus-fine samples in the southeastern portion of the Kelvin Stock and
defined 2 anomalous areas, Peak and Cirque. The Peak target anomaly measures 1.5 km by 1.0
km and is well defined by a sheeted vein system with anomalous gold values. It is a robust
anomaly with coincident gold, arsenic and bismuth, typical of a RIRGS target. Prospecting and
rock sampling at Peak returned a high percentage of samples containing greater than 1.0 g/t gold.
Twenty percent, or 49 out of 237 rock samples collected on the property have returned >1.0 g/t
gold with the highest value being 17.8 g/t gold. The gold occurs primarily in sheeted quartz -
arsenopyrite-bismuth veins that occur in the sedimentary rocks along the eastern margin of the
Kelvin Stock, host to the Peak target. The veins trend north-northeasterly and individual veins can
be traced for hundreds of meters. The vein system has been traced for 1 km along strike and 1.5
km across strike.
Rackla eagerly awaits the start of the summer exploration season in Yukon and is keen to get a
drill turning on the Peak target.
The Cirque target has been defined by a single base -of-slope contour line which also has
coincident gold, arsenic and bismuth values . Interestingly, the gold -in-soil values at Cirque are
highly anomalous for the region. Only a limited amount of work was completed at Cirque in 2023
and the Company plans a significant surface program to expand on and define this anomaly
further. Rackla plans to be in a position to drill test the Cirque target later in the 2024 season.
Peak target soil and rock sample anomalies
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Simon Ridgway, Rackla Metals CEO, commented: “The work completed on the Astro Plutonic Complex in
2023 was successful in identifying RIRGS targets in the most eastern reaches of the Tombstone Gold Belt.
RIRGS deposits occur in clusters and in western Yukon, the western cluster (Eagle, Aurmac, Brewery Creek,
RC and Red Mountain) contain +20 million ounces of gold(1). If the eastern cluster, which includes Snowline
Gold’s Rogue Plutonic Complex and Rackla’s Astro Plutonic Complex, is as productive as the western
cluster, these will be exciting times for the Company.
Our team is currently planning the drill program at HIT, a maiden drill program at Peak, advancing the
Cirque target to the drill stage and exploring our other projects in the Belt with the characteristics of a
Reduced Intrusion-Related Gold System.”
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. Ca sselman has reviewed and approved the technical
information contained in this news release.
(1) Yukon Geological Survey, 2023. Yukon Mineral Deposits Summary 2023. Yukon Geological Survey, 18 p.
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 western 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
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 exploration activities. Often,
but not alw ays, 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”,
“gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”,
or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative
variations.
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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.sedarplus.ca. 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, 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 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 place undue reliance on forward -looking
statements.