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Juggernaut Drills 14.31 gpt Au/Eq Over 5.5 Meters on Goldilocks Discovery

VANCOUVER, British Columbia, Dec. 06, 2021 (GLOBE NEWSWIRE) — Juggernaut Exploration Ltd (JUGR.V) (The “Company” or “Juggernaut”) is pleased…

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VANCOUVER, British Columbia, Dec. 06, 2021 (GLOBE NEWSWIRE) — Juggernaut Exploration Ltd (JUGR.V) (The “Company” or “Juggernaut”) is pleased to announce the results from its 2021 inaugural diamond drill program on its 100% controlled Gold Star property situated along the Central Coast of British Columbia. A total of 5 shallow exploratory holes were drilled, all of which intersected significant widths of high grade gold /polymetallic mineralization in quartz-chlorite-sulphide veins on the newly discovered Goldilocks Zone. Drill hole GS-21-05 intersected 10.795 gpt Au (14.31 AuEq) over 5.5 m including 29.2 gpt Au (38.37 AuEq ) over 2.0 m. The Goldilocks Zone has been traced on surface for 290 meters with 160 meters vertical relief before being covered by overburden and remains open both along strike and to depth.

Drill Highlights:

  • The high grade core of the Goldilocks zone has an average grade of 9.427 gpt AuEq over an average width of 4.1 m within a broader envelope of gold/polymetallic mineralized quartz chlorite sulphide veins as demonstrated by all 5 maiden drill holes.
  • Drill hole GS-21-05 intersected 10.795 gpt Au (14.31 gpt AuEq) over 5.5 m including 23.412 gpt Au (30.773 gpt AuEq) over 2.5 m and 57.563 gpt Au (75.606 gpt AuEq) over 1.0 m (link to GS-21-05)
  • Drill hole GS-21-04 intersected 7.497 gpt Au (10.905 gpt AuEq) over 5.5 m including 13.493 gpt Au (19.598 gpt AuEq) over 3.0 m and 38.239 gpt Au (55.918 gpt AuEq) over 1.0 m (link to GS-21-04)
  • Drill hole GS-21-02 intersected 6.345 gpt Au (9.294 gpt AuEq) over 3.5 m including 7.377 gpt Au (10.735 gpt AuEq) over 3.0 m and 10.893 gpt Au (15.814 AuEq) over 2.0 m (link to GS-21-02)
  • Drill hole GS-21-03 intersected 3.708 gpt Au (6.145 gpt AuEq) over 3.0 m including 4.959 gpt Au (6.937 gpt AuEq) over 2 meters and 6.343 gpt Au (8.882 gpt AuEq) over 1.5 m (link to GS-21-03)
  • Drill hole GS-21-01 intersected 5.223 gpt Au (6.482 gpt AuEq) over 3.0 m including 7.771 gpt Au (9.575 gpt AuEq) over 2.0 m and 15.140 gpt Au (18.574 gpt AuEq) over 1 m (link to GS-21-01)

Table 1: 2021 Gold Star drill hole assay results. Widths are reported in drill core lengths and the true widths are not known. See Table 2 for hole locations, azimuth and dip.

GS-21-05 From (m) To (m) Interval (m) Au (gpt) Ag (gpt) Cu (gpt) Pb (gpt) Zn (gpt) AuEq (gpt)
Interval 6.00 11.50 5.50 10.795 260.782 857.273 46.545 76.909 14.310
Including 6.50 11.50 5.00 11.870 286.640 689.000 50.000 75.000 15.690
Including 9.00 11.50 2.50 23.412 564.400 425.800 90.000 60.000 30.773
Including 9.50 11.00 1.50 38.780 935.033 616.667 143.667 36.000 50.956
Including 9.50 10.50 1.00 57.563 1386.750 839.500 205.000 34.000 75.606
Including 9.50 10.00 0.50 113.500 2730.000 1460.000 392.000 66.000 148.989
 
Interval 1.00 2.50 1.50 4.861 86.933 183.333 101.333 39.667 6.020
Including 1.50 2.00 0.50 10.900 170.000 150.000 224.000 77.000 13.132
GS-21-04 From (m) To (m) Interval (m) Au (gpt) Ag (gpt) Cu (gpt) Pb (gpt) Zn (gpt) AuEq (gpt)
Interval 10.00 15.50 5.50 7.497 260.855 227.000 59.636 46.636 10.905
Including 12.00 15.00 3.00 13.493 468.417 326.000 103.167 39.833 19.598
Including 13.00 15.00 2.00 20.089 697.600 436.250 145.000 47.500 29.171
Including 13.00 14.00 1.00 38.239 1364.700 361.500 168.000 47.500 55.918
Including 13.50 14.00 0.50 75.500 2700.000 707.000 329.000 94.000 110.475
 
Interval 3.50 8.50 5.00 1.308 33.570 167.200 22.900 81.000 1.775
Including 6.00 8.50 2.50 1.596 44.820 249.200 18.000 85.600 2.222
Including 7.00 8.00 1.00 3.240 93.950 378.000 24.000 61.000 4.520
GS-21-02 From (m) To (m) Interval (m) Au (gpt) Ag (gpt) Cu (gpt) Pb (gpt) Zn (gpt) AuEq (gpt)
Interval 6.50 10.00 3.50 6.345 202.557 1987.000 41.286 43.714 9.294
Including 6.50 9.50 3.00 7.377 235.517 1884.833 44.833 39.833 10.735
Including 7.00 9.50 2.50 8.802 281.260 2130.600 51.000 32.800 12.791
Including 7.50 9.50 2.00 10.893 347.500 2598.000 60.250 25.250 15.814
Including 8.00 9.50 1.50 12.683 403.000 1984.000 73.333 27.667 18.219
 
Interval 2.00 3.50 1.50 4.285 68.300 32.333 213.000 35.667 5.183
Including 2.50 3.00 0.50 12.500 198.000 22.000 621.000 13.000 15.084
 
Interval 23.50 26.00 2.50 0.606 20.520 56.400 25.800 70.200 0.885
Including 24.00 25.50 1.50 0.815 28.800 60.667 30.667 61.667 1.201
GS-21-03 From (m) To (m) Interval (m) Au (gpt) Ag (gpt) Cu (gpt) Pb (gpt) Zn (gpt) AuEq (gpt)
Interval 11.50 16.00 4.50 2.366 73.011 164.778 61.000 55.778 3.341
Including 12.50 15.50 3.00 3.708 139.629 1271.143 3203.000 5110.143 6.145
Including 12.50 15.00 2.50 4.063 123.340 120.800 102.000 34.400 5.681
Including 13.00 15.00 2.00 4.959 151.075 131.500 125.000 34.750 6.937
Including 13.00 14.50 1.50 6.343 195.333 84.000 93.333 16.667 8.882
Including 13.00 13.50 0.50 9.180 291.000 197.000 62.000 26.000 12.972
 
Interval 3.50 7.50 4.00 0.458 9.288 57.125 12.625 29.750 0.589
Including 5.50 7.50 2.00 0.590 11.450 90.500 16.000 45.250 0.756
GS-21-01 From (m) To (m) Interval (m) Au (gpt) Ag (gpt) Cu (gpt) Pb (gpt) Zn (gpt) AuEq (gpt)
Interval 1.50 4.50 3.00 5.223 94.167 226.833 89.500 44.000 6.482
Including 1.50 4.00 2.50 6.243 111.400 222.800 98.400 43.800 7.724
Including 1.50 3.50 2.00 7.771 137.175 167.250 114.000 41.500 9.575
Including 1.50 3.00 1.50 10.240 180.133 70.667 122.333 39.667 12.584
Including 2.00 3.00 1.00 15.140 265.150 33.500 168.500 4.500 18.574
Including 2.00 2.50 0.50 26.000 453.000 30.000 78.000 1.000 31.853
 
Interval 6.00 8.00 2.00 0.658 17.175 418.750 10.750 52.750 0.953

* AuEq metal values are calculated using: Au 1792.60 USD/oz, Ag 23.13 USD/oz, Cu 4.37 USD/lbs, Pb 1.05 USD/lbs and Zn 1.52 USD/lbs on November 28, 2021.

Table 2: 2021 Gold Star drill collar locations

Hole ID Collar Easting Collar Northing Datum/Zone Azimuth Dip Length (m)
GS-21-01 656273.9 5782404.7 UTM NAD83 9N 208 43 63
GS-21-02 656273.1 5782404.6 UTM NAD83 9N 246 45 54
GS-21-03 656272.1 5782405.0 UTM NAD83 9N 173 45 57
GS-21-04 656271.4 5782404.2 UTM NAD83 9N 160 45 51
GS-21-05 656273.5 5782403.9 UTM NAD83 9N 224 45 60

The 2021 maiden exploration drilling consisted of 5 shallow drill holes totalling 285 m, which were designed to test the main Goldilocks outcrop and all holes intersected high gold polymetallic mineralization confirming the presence of a new orogenic gold system which remains open both along strike and down dip. The property is located in a key geologic setting along a regional scale under-explored high strain zone and contains a series of newly discovered gold mineralized quartz-chlorite-sulphide veins up to 10 m wide. (VIDEO LINK HERE)

Gold Star property highlights

  • The Goldilocks Zone is characterized by multiple quartz-sulphide-pyrite outcrops that daylight in glacial talus containing high-grade gold and polymetallic mineralization. The zone is defined on surface by veining and altered host rock exposed over a strike of 290 m and 160 m vertical relief that remains open. (Link to Field Sample Locations)
  • A 2019 channel cut within the Goldilocks zone consisted of a 3.75 m cut to partially test a 10.5 m wide section of exposed outcrop. Assays returned 7.86 gpt AuEq over 3.75 m true width. This channel started in 9.01 gpt AuEq and ended in 10.79 gpt AuEq leaving the zone open. This zone also contains gold mineralization confirmed in the host rock (pyritic chlorite-schist) that assayed 1.13 gpt AuEq over a 1 m interval within the 3.75 m channel. (Link to NR Feb 18, 2020)
  • A 2021 channel sample taken from the quartz-chlorite-sulphide vein at the western end of the Goldilocks showing, 175 m to the west on strike of the main Goldilocks outcrop, assayed 0.953 gpt AuEq over 3.5 m including 2.153 gpt AuEq over 1 m. (Link to Goldilocks Zone Overview) and (Link to Goldilocks Vein Image)
  • A 2021 channel sample take from the Yellow Brick Road showing 500 m south of the Goldilocks zone assayed 4.587 gpt AuEq over 3.1 m including 5.850 gpt AuEq over 1 m in an outcrop of quartz-chlorite-sulphide vein within an envelope of chlorite-schist. (Link to Yellow Brick Road Zone Overview) and (Link to Yellow Brick Road Vein Image).
  • The Yellow Brick Road Zone has been traced for 170 meters and remains open and contains pyrite-chalcopyrite-galena bearing, vuggy quartz veins that are up to 1 meter wide with chip samples up to 24.55 gpt AuEq over 1 meter and with grab samples assaying up to 99.0 gpt AuEq. The veins are encompassed by a pyritic and quartz-sericite-pyrite alteration envelope that is up to 30 cm wide.

Table 3: 2021 Gold Star channel samples

Channel ID Sample ID Interval (m) Au (gpt) Ag (gpt) Cu (%) Pb (%) Zn (%) AuEq (gpt)*
Goldilocks Showing Channel
GL-21-01 Y608229 1.000 1.690 35.400 0.004 0.000 0.000 2.153
GL-21-01 Y608231 0.900 0.178 5.500 0.003 0.001 0.004 0.256
GL-21-01 Y608232 0.600 0.157 5.900 0.009 0.000 0.007 0.240
GL-21-01 Y608233 0.500 0.791 19.200 0.001 0.000 0.001 1.045
GL-21-01 Y608234 0.500 0.431 10.600 0.001 0.002 0.005 0.574
Weighted average 3.500 0.730 16.797 0.004 0.001 0.003 0.953
Yellow Brick Road Showing Channel
YBR-21-01 Y608763 0.500 0.089 3.800 0.010 0.008 0.006 0.145
YBR-21-01 Y608764 0.500 4.210 91.200 0.092 0.061 0.001 5.393
YBR-21-01 Y608765 0.800 1.455 23.600 0.077 0.369 0.004 1.766
YBR-21-01 Y608766 0.800 1.510 33.900 0.113 0.555 0.005 1.954
YBR-21-01 Y608767 0.500 4.130 73.500 0.074 0.055 0.001 5.085
YBR-21-01 Y608768 0.500 5.710 69.600 0.128 0.142 0.004 6.615
YBR-21-01 Y608769 0.400 0.015 5.300 0.303 0.446 0.056 0.090
Weighted Average 3.100 3.710 67.339 0.111 0.290 0.003 4.587
Including 1.000 4.920 71.550 0.101 0.099 0.002 5.850

* AuEq metal values are calculated using: Au 1792.60 USD/oz, Ag 23.13 USD/oz, Cu 4.37 USD/lbs, Pb 1.05 USD/lbs and Zn 1.52 USD/lbs on November 28, 2021.

Table 4: 2021 Gold Star grab samples

Sample ID Au (gpt) Ag (gpt) Cu (%) Pb (%) Zn (%) AuEq (gpt)*
Y608761 98.400 45.800 2.530 0.001 0.007 99.000
Y608762 13.100 11.700 0.506 0.000 0.002 13.260
Y608629 4.230 121.000 0.013 0.001 0.000 5.800
Y608631 3.320 2.600 0.002 0.002 0.006 3.362
Y608583 0.971 25.200 0.006 0.003 0.003 1.305
Y608582 0.940 24.000 0.013 0.046 0.006 1.259
Y608632 0.161 3.100 0.004 0.001 0.003 0.210

* AuEq metal values are calculated using: Au 1792.60 USD/oz, Ag 23.13 USD/oz, Cu 4.37 USD/lbs, Pb 1.05 USD/lbs and Zn 1.52 USD/lbs on November 28, 2021.

The high grade gold mineralization confirmed in all the maiden drill holes and surface samples on Gold Star confirms the presence of a significant gold system. The inaugural exploratory drill program has tested only a small fraction of this gold system that remains open in all directions. With strong gold mineralization confirmed in all the drill holes strongly suggests the presence of a significant gold system that remains under-explored. The technical team recommends a phase two follow up drill program focused on expanding the gold mineralization both along strike and down dip to outline the full gold potential of this important new discovery.

Extensive regions of snow-pack abatement and glacial recession along the regional under-explored high stain zone provide for extensive areas recently exposed with excellent discovery potential. (Link to Regional High-Strain Zone Map).

The Gold Star Property is an original discovery with no previous recorded work in the area and is situated 4.5 km east of tidewater along the Central Coast of British Columbia approximately 5.5 km from logging access roads, which provides for good access to infrastructure.

Dan Stuart, President and CEO of Juggernaut Exploration, states: Juggernaut and the technical team are extremely excited by the results from the Goldilocks Zone. The 2021 maiden drill program has confirmed the discovery of a significant new high grade gold system that remains open in all directions. With continued exploration success, Goldilocks has strong potential to quickly evolve into the next big gold discovery providing benefits to the shareholders, local stakeholders and First Nation. The geologic setting of this under-explored regional scale high strain zone has tremendous untapped potential to host multiple new discoveries that could evolve into an important new gold camp providing value for years to come. We look forward to the fully funded 2022 recommended drill program and expanding the geometry of this exciting new gold discovery. The company is in the process of compiling and interpreting the Gold Standard results and looks forward to releasing them in the near future. Juggernaut is in a very unique position sitting with a tight share structure of just over 40MM shares issued and outstanding coupled with over $4,400,000 currently in the treasury not including additional exploration rebates puts Juggernaut firmly in a fully funded position for the much anticipated 2022 drill programs and beyond.

Qualified Person

Rein Turna P. Geo is the qualified person as defined by National Instrument 43-101, for Juggernaut Exploration projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.

Other

Oriented HQ-diameter diamond drill core from the drill campaign is placed in core boxes by the drill crew contracted by the Company. Core boxes are transported by helicopter to the staging area, and then transported by truck to the core shack. The core is then re-orientated, meterage blocks are checked, meter marks are labelled, Recovery and RQD measurements taken, and primary bedding and secondary structural features including veins, dykes, cleavage, and shears are noted and measured. The core is then described and transcribed in MX DepositTM. Drill holes were planned using Leapfrog GeoTM and QGISTM software and data from the 2017-2019 exploration campaigns. Drill core containing quartz, sulphide(s), or notable alteration are sampled in lengths of 0.5 to 1.0 meters. Core samples are cut lengthwise in half, one-half remains in the box and the other half is inserted in a clean plastic bag with a sample tag. Standards, blanks and duplicates were added in the sample stream at a rate of 20%. All samples, including core, rock grabs, channels and talus samples, are transported in rice bags sealed with numbered security tags. A transport company takes them from the core shack to the ALS labs facilities in North Vancouver or MSA labs facilities in Langley. ALS (and MSA) is either Certified to ISO 9001:2008 or Accredited to ISO 17025:2005 in all of its locations. At ALS (and MSA), samples are processed, dried, crushed, and pulverized before analysis using the ME-ICP61 and Au-ICP21 (ICP-130, ICA-5Ag, and FAS-124) methods. Overlimits are re-analyzed using the ME-ICP61, Au-ICP21, and Ag-GRA21 (FAS-428, ICA-6Ag, and FAS-425) methods. If Gold is higher than 5 gpt, the labs will re-analyze using Metallic Screening Au-SCR24C (MSC-150) method. The reader is cautioned that grab samples are spot samples which are typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intended to be representative of the material sampled.

For more information, please contact:

Juggernaut Exploration Ltd.
Dan Stuart
President and Chief Executive Officer
Tel: (604)-559-8028
www.juggernautexploration.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

FORWARD LOOKING STATEMENT

Certain disclosure in this release may constitute forward-looking statements that are subject to numerous risks and uncertainties relating to Juggernaut’s operations that may cause future results to differ materially from those expressed or implied by those forward-looking statements, including its ability to complete the contemplated private placement. Readers are cautioned not to place undue reliance on these statements. NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION TO PURCHASE ANY SECURITIES DESCRIBED IN IT

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