Visual analysis of drill core in all holes returned significant widths of strong semi-massive to massive sulphide mineralization
The current summer drill program at the VHMS Bingo project in British Columbia’s Golden Triangle has gotten off to a great start for Juggernaut Exploration Ltd (JUGR. V; OTCQB: JUGRF; FSE: 4JE). The first six holes (BI-24-8 to BI-24-13) drilled from the first drill pad have all hit the anticipated VHMS target mineralization at Bingo close to surface. Visual analysis of drill core in all holes returned significant widths of strong semi-massive to massive sulphide mineralization at intervals between 11.66 metres (hole BI-24-11), 6.82 metres (BI-24-12), 5.65 metres (BI-24-10), 5.38 metres (BI-24-13), 5.00 metres (BI-24-08) and 2.83 metres (BI-24-09). Mineralization at the Bingo Main Zone can be traced over 600 metres at surface and is open along strike and at depth. A further 21 holes from six additional drill pads are planned before the current drill program is completed. In total, Juggernaut plans to drill approximately 3,000 meters on the 600 by 350 meter Bingo Main Zone this season. (see Figure 1)
The largest mineralized interval to date was intersected in drill hole BI-24-11. This hole intersected 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 intercept is 6.55 metres wider than the intercept recorded in the previous 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 metres with the same style of mineralization and texture. Lab assays from 2024 drilling are pending.
Dan Stuart, President and CEO of Juggernaut Exploration, commented: “The intersection of sulphide mineralization in 100% of all holes drilled so far this season, up to 11.66 metres wide, is great news for the Company and its shareholders. As we continue drilling to test the mineralization at depth, as well as proceed with surface mapping and trenching, we will gain a better understanding of the system at play. We look forward to releasing visual results as the program progresses and will release assay results as they are received, compiled and interpreted.”
Recently, an airborne magnetic survey identified a new fold located 1 kilometer north of the Bingo Main zone, referred to as the Double Down Hinge zone. This fold has the same orientation and characteristics as the fold observed in the Bingo Main zone. A fault separates the two folds, possibly indicating that the two structures are the same fold that has been displaced, in which case it is likely that gold-silver-copper mineralization is also present 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 main Bingo zone as well as understanding the influences on mineralization at the contact between metamorphosed sediments and the intrusion to the west and the volcanic units to the east.
Summary: Juggernaut's Bingo project is located in the southern part of the Golden Triangle amidst a number of known deposits including Anyox, Surebet, Dolly Varden, Porter Idaho, Premier and others. Notably, Bingo covers the same geologic units as Goliath Resource's Surebet discovery, located 15 km to the west. Visual interpretation of the initial drill core from the current season is extremely encouraging - after all, a comparable drill core from the Bingo Main Zone from 2023 returned 12.09 gpt AuEq in the lab. Juggernaut could achieve a breakthrough with this year's drilling. Shareholders should be looking forward to a "surebet moment" à la Goliath Resources.
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