Visual analysis of drill cores revealed considerable thicknesses of strong semi-massive to massive sulfide mineralization
The current summer drilling program on the VHMS Bingo project in British Columbia’s Golden Triangle has begun optimally for Juggernaut Exploration (JUGR.V / FSE: 4JE). The first six drill holes (BI-24-8 to BI-24-13), drilled from the first drill pad, have all intersected the anticipated VHMS target mineralization near the surface at Bingo. Visual analysis of the drill cores revealed considerable thicknesses of strong semi-massive to massive sulfide mineralization in all drill holes, with intervals ranging from 11.66 meters (drill hole BI-24-11), 6.82 meters (BI-24-12), 5.65 meters (BI-24-10), 5.38 meters (BI-24-13), 5.00 meters (BI-24-08), and 2.83 meters (BI-24-09). The mineralization of the Bingo Main Zone can be traced on the surface for 600 meters and remains open both along strike and at depth. An additional 21 drill holes from six more drill pads are planned for completion of the ongoing drilling program. In total, Juggernaut aims to drill around 3,000 meters in the 600 by 350 meter Bingo Main Zone this season. (See Figure 1)
Laboratory analyses of the 2024 drilling are still pending
The largest mineralized interval to date was intersected in drill hole BI-24-11. This hole measured an interval of 11.66 meters of strongly silicified chlorite schist with brecciated semi-massive pyrrhotite (up to 20%) and chalcopyrite (up to 2%). This section is 6.55 meters wider than the interval recorded last year in drill hole BI-23-01 (2023), which intersected 12.09 gpt AuEq (7.57 gpt Au, 20.23 gpt Ag, 2.72% Cu and 1624 ppm Co) over 5.11 meters with the same type of mineralization and texture. Laboratory analyses of the 2024 drilling are still pending.
Dan Stuart, President and CEO of Juggernaut Exploration, commented: “Intersecting sulfide mineralization in 100% of all holes drilled so far this season, with widths of up to 11.66 meters, is great news for the company and its shareholders. As we continue drilling to test the mineralization at depth, as well as continue with surface mapping and trenching, we will gain a better understanding of the system at play here. We look forward to releasing visual results throughout the program and will announce assay results once they are received, compiled, and interpreted.”
Recently, a magnetic airborne survey identified a new fold located 1 kilometer north of the Bingo Main Zone, 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 one and the same fold that has been displaced; in this case, it is expected that gold-silver-copper mineralization will also be found in the Double Down Hinge Zone. Detailed mapping and trenching on the property will focus on identifying the relationship between the Double Down Hinge Zone and the Bingo Main Zone, as well as understanding the influences on mineralization at the contact between metamorphosed sediments and the intrusion in the west and the volcanic units in the east.
Conclusion: Juggernaut’s Bingo project is located in the southern part of the Golden Triangle amidst a series of known deposits, including Anyox, Surebet, Dolly Varden, Porter Idaho, Premier, and others. Notably, Bingo encompasses the same geological units as Goliath Resource’s Surebet discovery, located 15 km further west. The visual assessment of the first drill cores from the ongoing season is extremely encouraging – after all, a comparable drill core from the Bingo Main Zone from 2023 yielded 12.09 gpt AuEq in the laboratory. With this year’s drilling, Juggernaut could achieve a breakthrough. Shareholders may look forward to a “Surebet moment” à la Goliath Resources.
