Rackla Metals Provides an Update on its 2023 Exploration Programs
Rackla Metals Provides an Update on its 2023 Exploration Programs
Vancouver, British Columbia – August 8, 2023 – Rackla Metals Inc. (TSX -V: RAK) (the “Company”) is
pleased to announce that the Company has completed 1,687 m of diamond drilling in 10 holes at the
Company’s flagship Astro project, as of August 8th. The 3,000 m drill program is focussed on targeting a
Reduced Intrusion-related Gold System (RIRGS) in the intrusive bodies at the Astro plutonic complex. To
date, drill core samples from the first 8 holes ha ve been sen t to ALS Global in Whitehorse, Yukon for
analysis. The drill results are expected in the coming weeks. The Astro intrusive complex includes the Astro,
HIT and SER properties, and covers approximately 22,500 Ha located in the Tombstone Gold Belt that
extends across the Yukon and Northwest Territories border.
The drill program to date has focused on the Radio-UV targets where previous operators identified a strong
gold anomaly in talus and soil sampl es across a broad valley underlain by a Tombstone suite intrusive
stock. Broad spaced drilling across the valley has identified sheeted quartz veining with minor amounts of
sulphide minerals in the intrusi ve. (Figure 1). In many instances, there is a signifi cant alteration halo
containing disseminated sulphide minerals bordering the veins as is evident in the photo below. Follow-up
drilling will continue upon receipt of results.
Figure 1: Drill core from hole AST-003 showing sheeted quartz veins with alteration halos around the veins.
The Company has also completed airborne geophysical surveys on a number of the company’s properties.
The surveys were conducted by Precision GeoSurveys Inc., utilizing their triple boom, gradient magnetic,
radiometric and VLF -EM system. On the Astro, H IT and S ER properties the Company expanded on a
previously flown airborne magnetic survey to cover the western portion of the Astro and capture the H IT
and S ER mapped intrusive bodies. (Figure 2) . This survey further define d the extent and geophysical
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
-2-
contrast within the Astro plutonic complex and identified a number of potential buried or unmapped intrusive
centres associated with strong gold in stream anomalies.
Figure 2: Airborne Magnetics (RTP)
On the HIT property, the survey has defined the intrusion to be a magnetic low and the hornfelsed country
rock to be magnetic highs surrounding and overlying the intrusion. The HIT intrusion measures 2 km in
diameter. Numerous contact metasomatic skarn mineral occurrences, identified by previous operators, are
shown to occur in the hornfels margins of the intrusion (Figure 3). The Company has focused efforts on the
intrusive body and has identified several areas at HIT where a strong system of sheeted veins appears to
be the feeder s ystem and cause of the hornfelsing and gold skarn mineralization . Soil and rock sample
results are pending and work is ongoing to define drill targets at the HIT property.
-3-
Figure 3: HIT property airborne magnetic response, mineral showings and gold-bearing rock samples.
Similar to the H IT, the magnetic survey on the S ER property has clearly defined the intrusion to be a
magnetic low and the hornfelsed country rock to be magnetic highs surrounding and overlying the intrusion.
The intrusion measures 2 km in diameter and has been only slightly unroofed leaving much o f the cupola
intact. The Company has digitized historic work by previous operators and identified very significant gold
anomalies from rock samples collected along the exposed margins of the intrusion (Figure 4). The Company
is following up on these anomalous areas with plans to define drill targets this season.
Figure 4: SER property airborne magnetic response and anomalous gold-bearing rock samples.
-4-
On the Excite property, located immediately west of Snowline Gold’s Rogue property, the magnetic survey
returned the characteristic response of an RIRGS intrusion : a magnetic low with surrounding magnetic
highs (Figure 5). The low might represent the centre of a buried intrusion, while the high would be a typical
response of hornfelsed sedimentary or volcanic rocks. Interestingly, the circular magnetic anomaly is
surrounded by anomalous gold values from heavy mineral concentrate sampling c ontaining up to 11 ppm
gold. The company plans to follow -up these results with prospecting and a soil sample survey later this
month.
Figure 5: Excite property airborne magnetic survey with heavy mineral concentrate gold values (ppm).
Field crews have been conducting stream sediment, soil and rock geochemical sampling, prospecting and
mapping on all of the Company’s properties. Results from this work will be received over the next few
weeks. The company will also be conducting a LiDAR survey on the Astro plutonic complex once conditions
allow.
Simon Ridgway, CEO commented : In mid-July I joined the Rackla team for a site visit. They have been
working diligently with contractors to meet our timeline and complete the geophysical survey on a number
of our projects and our geologists have been on the ground mapping and sampling across the Astro plutonic
complex. Our first drilling is well timed as t here is a growing interest by a number of companies in making
a discovery in the Tombstone Gold Belt and I am pleased that investors can expect to see the results of our
first sampling on the HIT and SER projects fairly soon and results of our drilling on Astro are expected by
the end of the summer.
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.
-5-
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 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 accura cy 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 proposed exploration
activities. Often, but not always, these forward looking statements can be identified by the use of words su ch 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.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the
actual results, performan ce 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 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 g oals 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 d ate 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.