Excellent Visual Results
Juggernaut Exploration (JUGR.V / FSE: 4JE) has intersected the expected sulfidic target mineralization over 84.50 meters at shallow depth in the very first drill hole of the season (drill hole MD-24-47) at the VHMS target Kokomo on its Midas project!
This new drill intersection contains the same mineralization and texture observed at the surface of the Kokomo deposit, where a chip sample yielded 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 sulfide (5-7% pyrite, 2% chalcopyrite, and 1% sphalerite) within a broader 84-meter intersection. 50 meters of the drill core contained strongly silicified chlorite schist with continuous trace sulfide mineralization from 105.90 meters to 190.40 meters. Laboratory analysis of the drill core is still pending.
The company plans to drill a total of 3,000 meters with 15 drill holes from 6 drill sites on the Midas property this season. The drilling aims to test the strong Eskay-Style Volcanogenic Hosted Massive Sulphide (VHMS) anomaly identified at the Kokomo occurrence, as well as several strong additional VHMS targets in a 550 by 350 meter area immediately south of the Kokomo occurrence, which has been proven to contain the heart of the gold-rich VHMS system and remains open.
Dan Stuart, President and CEO of Juggernaut Exploration, commented: “The 2024 drilling program on the Midas property has officially begun and is already showing excellent visual results. We are firmly convinced that this year’s drilling program will be able to test the most compelling VHMS target identified on the Midas property to date. Having completed the first successful drill hole at Kokomo, we look forward to releasing the initial assay results as soon as they become available.”
Conclusion: The current drilling at the Kokomo target serves to determine the heart of the suspected VHMS system on the Midas property. It is based on thorough analysis of the results from the 2023 drilling program and a compilation of data from previous drilling campaigns and exploration programs on the property. The 2024 drilling plan specifically targets the 550 by 350 meter area between the Eskay 1 Pad and the Kokomo occurrence, which has been proven 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 and rail connections, and key infrastructure.
