{kanada_flagge}At the Midas Project in the Canadian province of British Columbia, Juggernaut Exploration (TSX.V: JUGR, OTCQB: JUGRF, FSE: 4JE) will soon start its new drilling program. It is expected to comprise approximately 4,500 meters of drilling and will be drilled on a geologically very attractive property.
{kanada_flagge}At the Midas Project in the Canadian province of British Columbia, Juggernaut Exploration (TSX.V: JUGR, OTCQB: JUGRF, FSE: 4JE) will soon start its new drilling program. It is expected to comprise approximately 4,500 meters of drilling and will be drilled on a geologically very attractive property.
The drilling program is strongly favored by the good weather in British Columbia, which has made an early start of drilling possible this year. This is not a matter of course, as the Midas project, located around 24 kilometers southeast of Terrace, enjoys good development in the form of access roads, rail links and power lines, but not so long ago the area was still completely covered by glaciers and snow.
The glaciers have retreated and the snowpack has melted in recent years, allowing Juggernaut Exploration to move forward to develop the 20,803 hectare Midas Project located at the southern end of the Golden Triangle in British Columbia. The company can also draw on historical drilling data to do so.
Historical samples and drill cores are promising
They indicate that the property is extremely attractive and has great geological potential. Of particular note is a one meter long chip sample. It shows 9.343 g/t gold, 117 g/t silver, 1.58 percent copper and 1.77 percent zinc. At the same time, proof was provided that the area is suitable for drilling, as the anomaly is relatively shallow.
To the south, a zone of semi-massive to massive sulfides extends for at least 850 meters. It appears to continue to depth. Highlights of samples collected from this VG zone include 10.28 g/t gold over 4.34 metres, 15.37 g/t gold over two metres and 5.43 g/t gold over 3.11 metres.
The best historical drill results from the property include holes MD-18-16 and MD-18-18. MD-18-16, intersected the peripheral zone of the core of the IP anomaly and identified an intercept of 0.56 g/t gold equivalent over a distance of 35.35 meters. In hole MD-18-08, however, the drill intersected 6.85 g/t gold over a distance of nine metres. The hole narrowly missed a strong IP chargeability anomaly. Drill hole MD-18-01 also returned good results, intersecting 3.27 g/t gold equivalent over a distance of 4.80 metres, ending before it reached the core of a strong IP chargeability anomaly.
Based on these historical assay results, Juggernaut thus identified a total of five drill targets. They were confirmed by the samples taken on the ground as well as by the IP geophysical data. Juggernaut will therefore now drill seven drill holes on these five drill targets, for a total length of 4,500 meters.
Conclusion: The prospects for the new drilling program are good as the Midas project is located in a world class geological setting. It is associated with great potential for Eskay-type VHMS mineralization. Dan Stuart, President and CEO of Juggernaut Exploration, is therefore very confident at the start of drilling. He stated, “We have designed a strong drill plan for the high-grade gold targets with world class discovery potential in areas that have not yet been drill tested.”
In addition, drilling is pending on both the Bingo deposit and the Empire deposit. In favor of the Bingo deposit is the fact that it is located in the same world-class geological units that characterize Goliath Resource’s adjacent Surebet discovery. At the Empire deposit, recent samples raised eyebrows with outcrops showing 36,875 g/t silver, 4.68 g/t gold, 27.6 percent copper and 3.27 percent zinc, among others. Notably, the silver content of 1,180 ounces per tonne is one of the highest silver contents collected in outcrop to date in Canadian geological history. The results of the latest drill holes can therefore be awaited with great excitement.
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