{kanada_flagge}Following promising early-stage exploration results at its Midas property in British Columbia, Juggernaut Exploration Ltd (TSXV: JUGR; OTCQB: JUGRF, FRA: 4JE) has again increased the size of its license. Based on additional strong targets, the claim block has been expanded from 19,105 hectares to 20,992 hectares. Juggernaut sees significant potential to make an Eskay-style VHMS discovery when drilling in the coming year.
{kanada_flagge}Following promising early-stage exploration results at its Midas property in British Columbia, Juggernaut Exploration Ltd (TSXV: JUGR; OTCQB: JUGRF, FRA: 4JE) has again increased the size of its license. Based on additional strong targets, the claim block has been expanded from 19,105 hectares to 20,992 hectares. Juggernaut sees significant potential to make an Eskay-style VHMS discovery when drilling in the coming year.
The Midas property is located 24 km southeast of Terrace, British Columbia, in close proximity to logging access roads, power and rail lines and major infrastructure. Kokomo is an Eskay-style VHMS deposit containing high-grade polymetallic gold-silver mineralization in semi-massive to massive sulphides (chalcopyrite, sphalerite and pyrite) where a 1-m chip sample returned 9.343 g/t Au, 117 g/t Ag, 1.58% Cu and 1.77% Zn. The deposit is located in the headwaters of a drainage where a BLEG sample collected in 2021 assayed 29 ppb Au, 613 ppb Ag, 137 ppm Cu, 54.4 ppm Pb and 462 ppm Zn. The geology, geochemistry, alteration and extensive underlying geophysical anomaly confirmed at the Midas property, combined with the high-grade polymetallic Au, Ag, Cu and Zn mineralization in semi-massive to massive sulfides seen in the outcrop at Kokomo, strongly suggests excellent potential for a buried Eskay-type VHMS discovery.
Eight Bulk Leach Extractable Gold (BLEG) samples collected during the 2022 exploration program at Midas returned significant gold values ranging from 24.31 ppb Au to 107.35 ppb Au within a 650 metre by 200 metre area located immediately southeast of the Kokomo occurrence (Figure 1). The high concentration of high grade BLEG samples in this area, combined with several other pieces of evidence confirmed to date, strongly suggests the presence of an extensive buried gold resource. Surface samples from outcrops over 1.1 km contain grades up to 0.80 g/t Au and 19.55 g/t Ag.
Surface sample results indicate that they are unlikely to be the source of the high-grade, extensive BLEG anomaly observed over 650 meters from multiple drainages. The results suggest a blind or buried source of gold mineralization at depth that has been covered by overburden (glacial debris and rubble). This hypothesis is also supported by the relatively shallow induced polarization (IP) chargeability and resistivity anomaly at depth, which extends under the Kokomo deposit for 120 meters by 150 meters and remains open to the south and east.
Dan Stuart, President and CEO of Juggernaut Exploration, stated, “The encouraging results from previous exploration campaigns combined with the strong 2022 BLEG results and the recently reported Midas underground IP anomaly strongly suggest the potential for an extensive gold mineralization system at depth. Exploration results to date indicate that we have found a potential gold-bearing VMHS source at depth. Kokomo is drill-ready and has a full 5-year permit.”
Figure 1: Is Midas at the start of anEskay-style discovery?
2022 drilling program on Gold Standard and Gold Star.
Follow-up drilling in 2022 at the Gold Standard and Gold Star properties failed to repeat the grades and widths confirmed in the 2021 drilling or in previous surface channel sampling. The Gold Standard and Gold Star properties are new discoveries with no work completed until 2022 and are located within a few kilometers of major infrastructure on the central coast of British Columbia. Both properties are located in an important geological setting along a regional and underexplored high-grade zone containing a series of newly discovered gold mineralized quartz-chlorite-sulfide veins with shear rock.
Disclaimer: The contents of www.goldinvest.de and all other used information platforms of the GOLDINVEST Consulting GmbH serve exclusively the information of the readers and do not represent any kind of call to action. Neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. Furthermore, they do not in any way replace individual expert investment advice, but rather represent advertising / journalistic texts. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. The acquisition of securities involves high risks, which can lead to a total loss of the invested capital. The GOLDINVEST Consulting GmbH and its authors exclude any liability for financial losses or the contentwise warranty for topicality, correctness, adequacy and completeness of the articles offered here expressly. Please also note our terms of use.
According to §34 WpHG we would like to point out that partners, authors and/or employees of GOLDINVEST Consulting GmbH hold shares of some of the mentioned companies and therefore a conflict of interest exists. Furthermore, we cannot exclude that other stock exchange letters, media or research firms discuss the values discussed by us in the same period. Therefore, symmetrical information and opinion generation may occur during this period. Furthermore, there is a consulting or other service contract between some of the mentioned companies and GOLDINVEST Consulting GmbH, directly or indirectly, which means that there is or can be a conflict of interest as well.
