Promising visual results, already
Juggernaut Exploration (JUGR.V; OTCQB: JUGRF; FSE: 4JE) has intersected the expected sulphide target mineralization in the first drill hole of the season (drill hole MD-24-47) on the Kokomo VHMS target at its Midas project at shallow depth of 84.50 metres.
This new drill intercept contains the same mineralization and texture observed at surface at the Kokomo deposit where a chip sample assayed 9.343 g/t Au, 117 g/t Ag, 1.58% Cu and 1.77% Zn. Visual analysis of the drill core revealed 2 meters of semi-massive sulphide (5-7% pyrite, 2% chalcopyrite and 1% sphalerite) within a broader 84 meter interval. 50 metres of the drill core contained strongly silicified chlorite schist with continuous trace sulphide mineralization from 105.90 metres to 190.40 metres. Laboratory analysis of the drill core is pending.
Drill hole MD-24-47 shows the same mineralization and texture encountered at surface at the Kokomo deposit
The Company plans to drill a total of 3,000 meters with 15 holes from 6 drill sites on the Midas property this season. Drilling is aimed at testing the strong Eskay-style Volcanogenic Hosted Massive Sulphide (VHMS) anomaly identified at the Kokomo deposit, as well as several strong additional VHMS targets in a 550 meter by 350 meter area immediately south of the Kokomo deposit, which has been shown to contain the heart of the gold-rich VHMS system and remains open.
Figure 2: Drill results from 2023 indicate an extensive gold, copper and zinc-bearing north-south mineralized trend. The gold and base metal component increases significantly towards the Kokomo deposit (highlighted in red), indicating proximity to the core of a VHMS deposit.
Dan Stuart, President and CEO of Juggernaut Exploration, commented, “The 2024 drill program at the Midas property has officially commenced and is already showing excellent visual results. We firmly believe that this year’s drill program will be able to test the most compelling VHMS target identified to date on the Midas property. With the first successful drill hole completed at Kokomo, we look forward to releasing initial assay results as they become available.”
Conclusion: The current drilling at the Kokomo target is designed to determine the heart of the suspected VHMS system at the Midas property. The work is based on a thorough analysis of results from the 2023 drill program and a compilation of data from previous drill campaigns and exploration programs on the property. The 2024 drill plan specifically targets the 550 by 350 meter area between the Eskay 1 pad and the Kokomo deposit, which has been shown to contain the heart of the gold-rich VHMS system. Juggernaut controls 100% of the 20,803 hectare Midas property. Midas is located 24 km southeast of Terrace, British Columbia, in close proximity to logging access roads, power, rail and critical infrastructure.
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