Rackla Metals stakes new Grad Property in Northwest Territories and reports intrusive hosted high-grade gold discovery
Rackla Metals stakes new Grad Property in Northwest Territories and reports
intrusive hosted high-grade gold discovery
Vancouver, British Columbia – August 28, 2024 – Rackla Metals Inc. (TSX-V: RAK) (the “Company ”) is
pleased to announce that it has staked the Grad Property in the Northwest Territories (NWT) and initial
sampling on the new claims has returned grades up to 92.4 g/t Au.
Rackla staked the 4,000 hectare Grad Property within the Tombstone Gold Belt in the NWT centered on
anomalous government regional geochemical survey stream sediment samples in a region that has
experienced minimal historical exploration. The claims cover a mapped Mid-Cretaceous, Mayo Suite,
granitic stock and at least one other unmapped felsic intrusive body. The mapped Mayo Suite intrusion
measures 1.8 by 1 km, while the secondary intrusion is slightly smaller. Both intrusions have a sizable,
intensely altered, contact aureole expressed as hornfelsed and iron-stained gossanous Earn Group
sediments.
During the staking, quartz sulfide veining was noted on cliffs within the intrusive body and in float in the
talus trains. The field crew collected 25 grab samples from outcrop and sub-crop while completing the
staking. The analytical results returned over 50% of the samples anomalous for gold. In particular, two
samples returned spectacularly high-grade Au-Bi-Te from the mapped intrusion. At the site of these
samples abundant quartz-tourmaline veining and disseminated pyrite throughout the intrusion was
observed. Both of these samples were from outcrop. One of the samples returned 92.4 g/t Au, >1% Bi,
>500 g/t Te. The other, located 40m to the east, returned 15.85 g/t Au, 0.9% Bi, and 331 g/t Te. The
preliminary observations from the intrusive stock and these results indicate a multiphase intrusion with
stockwork veining, which may represent the upper carapace of a mineralized Reduced Intrusion-Related
Gold System.
The Company immediately initiated a follow-up program consisting of stream sediment sampling, talus
fine sampling, a photogrammetry survey and detailed rock chip sampling of the face that returned the
high-grade gold values. The results of this additional work are pending. Based on the early success of
exploring this new property, and the various unmapped intrusive bodies identified, Rackla is staking a
larger land position in the area.
CEO Simon Ridgway stated, “The first assays returned from the Grad property have generated some
excitement within the team. This is a grassroots discovery in an area that has seen limited exploration
activity. The team will look to establish the extent of this high-grade Au-Bi-Te system.”
Suite 650 – 200 Burrard Street
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RAK:TSX.V
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Figure 1 - Grad Property Sampling and Mayo Suite Intrusive Outline
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Figure 2 - Cliff on southern part of the Grad intrusion showing the location of the 92.4 g/t Au sample. Inset is a close-up view
of the sample.
The Rackla team has also completed an exploration program on its Flat and Black properties located near
the Cantung mine site. The 2024 program on the Black property included a large soil sample grid (1196
soil samples), prospecting that yielded 66 rock samples and a photogrammetry survey. The target at Black
is gold-bearing quartz-arsenopyrite veins hosted in Hyland Group metasedimentary rocks on the margins
of a Cretaceous intrusion. The program on the Flat property consisted of prospecting ( 7 rock samples),
stream sediment sampling (3 samples) and a photogrammetry survey. The Flat property is also underlain
by Hyland Group sedimentary rocks that host gold -bearing quartz-arsenopyrite veins on the margins of
the Cretaceous-aged Tungsten Suite, Boundary Stock. Results from the sampling on these properties are
pending.
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.
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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 Belt in eastern Yukon and western Northwest Territories. Management
believes that this area, which is underexplored for RIRGS deposit types, has the potential to be the next
frontier for the discovery of these large gold systems.
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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