Exploration Planned on 97 Projects!

It’s starting at Juggernaut Exploration (JUGR.V / FSE: 4JE). The company aims to build on last year’s successes and is now launching the 2024 drilling season on its Midas and Bingo properties in the Golden Triangle of British Columbia. A total of 6,000 m of drilling is planned, 3,000 meters per property.

At Bingo, the drilling is intended to expand the strike and depth of the known mineralization of a high-grade gold-silver-copper shear vein. At Midas, a strong Eskay-style volcanogenic massive sulfide (VHMS) anomaly identified at the Kokomo occurrence on the Midas property will be tested. Bingo encompasses the same world-class geological units as Goliath Resource’s Surebet discovery located 15 km to the west, including Hazelton volcanics and associated sediments and intrusives, as well as the same type of pyrrhotite, chalcopyrite, and galena mineralization occurring in a similarly oriented, westward-dipping shear zone. Bingo is located in the southern part of the Golden Triangle, known for several famous deposits including Anyox, Surebet, Dolly Varden, Porter Idaho, Premier, and others.

Dan Stuart, President and CEO of Juggernaut Exploration, commented: “We have designed a comprehensive drilling plan that will allow us to expand the high-grade gold-silver-copper mineralization at Bingo along strike and at depth, as well as test what we believe to be the most compelling VHMS target identified on the Midas property to date. Additionally, we look forward to the new discoveries from the B-ALL consortium, of which we are one of the largest investors.”

At Bingo, a new fold was recently mapped, located 1 kilometer north of the Bingo Main Zone and referred to as the Double Down Hinge Zone. This fold exhibits the same orientation and characteristics as the fold observed in the Bingo Main Zone. A fault separates the two folds, potentially indicating that the two structures are actually the same fold that has been displaced; in this case, gold-silver-copper mineralization is expected to be found in the Double Down Hinge Zone as well.

Drilling on the Midas VHMS Target

On the Midas property, Juggernaut also plans to drill up to 3,000 meters. Here, 6 drill pads with up to 15 drill holes are planned. The drilling targets the most compelling VHMS (Volcanogenic Hosted Massive Sulphide) target identified on the property to date at the Kokomo deposit. Highlights of the Midas property include the discovery of the gold-silver-copper-zinc-rich Kokomo occurrence (9,343 gpt Au, 117 gpt Ag, 1.58% Cu, and 1.77% Zn), drill hole MD-19-18 (6.22 m at 0.31 gpt Au, 0.95 m at 1.50 gpt Au and 1.94% Cu, and 3.22 m at 0.36 gpt Au) and the VG Zone (2.24 gpt Au, 6.83 gpt Ag, 0.18% Cu, and 1.04% Zn over 4.80 meters).

The drilling on Midas is specifically aimed at the 550 by 300 meter area between the Eskay 1 Pad and the Kokomo occurrence, which has been shown to contain the heart of the gold-bearing VHMS system. The Kokomo occurrence consists of a VHMS-style outcrop where a 1-m chip sample yielded 9,343 g/t Au, 117 g/t Ag, 1.58% Cu, and 1.77% Zn. The outcrop is 5 m wide and extends for 30 m at the surface. It remains open and is underlain by an extensive 550 m long chargeability and resistivity anomaly from induced polarization (IP) that remains open and is conducive to semi-massive to massive sulfides like those confirmed at surface on the Kokomo occurrence.

In collaboration with the B-ALL syndicate, a large-scale exploration and prospecting program has been prepared to discover new potential deposits in an area that has recently experienced glacier retreat and permanent snow cover reduction in northwestern British Columbia between Stewart and the Yukon border. The team created over 300 exploration targets and staked 97 properties to be explored and mapped throughout the summer.

Conclusion: The two companies Juggernaut Exploration and Goliath Resources (TSX: GOT; FRA: B4IF) reveal their kinship and shared grand ambitions through their naming. In fact, both companies work closely together. They not only share the fundamental exploration approach, made possible by the retreat of glaciers in the southern part of the Golden Triangle, but due to their spatial proximity, they also actually share the camp, drilling crews, and even the responsible geologist. Additionally, Crescat Capital is the main shareholder in both companies. Juggernaut is at an earlier stage of exploration compared to Goliath. While Goliath has already invested tens of thousands of drill meters into expanding its resource following its Surebet discovery, Juggernaut’s Surebet moment is yet to come. This season could bring the breakthrough for Juggernaut on both Bingo and Midas.