Successes Also in the South of the Kokomo Deposit
On the Midas project in the Canadian province of British Columbia, Juggernaut Exploration (JUGR.V / FSE: 4JE) conducted an intensive drilling program in the Kokomo target area last year. The results are now available, and they indicate that Juggernaut may have penetrated the core of the volcanogenic massive sulfide target or at least come very close to it, as drill hole MD-24-47 intersected 8.27 g/t gold equivalent over a length of 11.03 meters!
Specifically, the mineralization consists of 6.21 g/t gold, 99.63 g/t silver, 0.42% copper, and 1.08% zinc. The high gold values and sulfide mineralization, consistent with what is typically present near an Eskay-type VHMS system in the form of moderate, semi-massive, or massive chalcopyrite, sphalerite, and pyrite, strongly suggest the potential for a VHMS deposit at depth.
Whether this is actually the case will need to be shown by additional investigations. However, the starting position for Juggernaut is extremely promising, as the mineralization remains open both at depth and to the north along strike. The company will therefore focus on these zones in its future work. In any case, it already seems clear that the mineralization is very strong both at the surface and in the drill holes. Both indications point to a large mineralization system.
The results of the drilling carried out last year confirm, with the results of previous years, an extensive north-south mineralization trend containing significant copper, zinc, and gold. The trend currently has a length of 550 meters, with the gold and base metal component increasing significantly in the northern direction. The induced polarization measurements also indicate proximity to an IP anomaly. This aspect also confirms Juggernaut’s assumption that the core of a VHMS deposit should be very close.
Successes Also in the South of the Kokomo Deposit
In the south of the Kokomo deposit, several additional drill holes have identified gold-copper-zinc mineralization. It runs along a 700-meter-long trend in the south of the deposit, with the sections consisting of moderate, semi-massive, or massive sulfide mineralization embedded in a quartz-sericite-chlorite schist.
The results of the Bingo drilling campaign have also been received, and in drill hole BI-24-09, samples with up to 1.68 g/t gold equivalent (1.08 g/t gold and 3.97 g/t silver) over 2.65 meters were intersected in the main Bingo zone. A series of drill holes contain anomalous gold values between 0.19 g/t and 1.11 g/t gold equivalent, while the remaining drill holes, drilled along the strike of the shear zone in the main Bingo zone, yielded results currently considered not significant.
Overall, and particularly with regard to the Kokomo deposit, the 2024 exploration campaign can therefore be considered a success, according to the company. In 2025 and the following years, the main focus will be on confirming the assumed discovery of the core of this VMS system and determining its exact dimensions.
