{kanada_flagge}Gold explorer Juggernaut Exploration (TSXV JUGR / WKN A2PTXU) is shifting up a gear. Having recently raised about $3 million in fresh capital, the company is now mobilizing crews and drill rigs for the 2023 season – on all three of its Midas, Empire and Bingo properties! A total of approximately 6,500 meters of drilling are expected to be completed, and Juggernaut has numerous “virgin” drill targets at its disposal, all of which the company believes have great potential for discovery.
{kanada_flagge}Gold explorer Juggernaut Exploration (TSXV JUGR / WKN A2PTXU) is shifting up a gear. Having recently raised about $3 million in fresh capital, the company is now mobilizing crews and drill rigs for the 2023 season – on all three of its Midas, Empire and Bingo properties! A total of approximately 6,500 meters of drilling are expected to be completed, and Juggernaut has numerous “virgin” drill targets at its disposal, all of which the company believes have great potential for discovery.
Dr. Quinton Hennigh of Crescat Capital, the company also participated in the recently completed Juggernaut financing, is acting as Special Technical Advisor to Juggernaut (and as Technical Advisor to all of Crescat’s gold and silver interests) and is very pleased that Juggernaut has now – relatively early in the year – kicked off exploration and drilling activities. The respected expert believes that Juggernaut could be one of British Columbia’s most exciting exploration stories this year, given its potentially high-grade and large-area targets – particularly at Midas and Empire – and the recent positive performance of the resource sector. Dr. Hennigh is confident that the Company could make two notable discoveries this exploration season!
Midas property in focus
The first drill holes will be drilled this year on the Midas property, located in British Columbia’s famed Golden Triangle, where recent glacier retreat and snow cover is diminishing. Among the targets Juggernaut plans to test with drilling of 3,500 meters in total as of probably July is the Kokomo target, where pick samples returned 9.343 g/t gold, 117 g/t silver, 1.58% copper and 1.77% zinc, among others. According to the company, Kokomo is already ready for drilling.
A relatively shallow anomaly, detected by induced polarization (IP) chargeability and resistivity, also extends southward below the Kokomo target for at least 850 meters toward the VG zone, suggesting a buried VHMS with semi-massive to massive sulphides at depth. Channel sample highlights in the VG zone include 10.28 g/t gold over 4.34 metres, 15.37 g/t gold over 2 metres and 5.43 g/t gold over 3.11 metres. Historical drill results from the Midas property include drill hole MD-18-16 which intersected the peripheral zone of the core of the IP anomaly and returned 0.56 g/t gold equivalent over 35.35 metres, drill hole MD-18-08 which returned 6,85 g/t gold over 9 meters and narrowly missed a strong IP chargeability anomaly, and hole MD-18-01, which intersected 3.27 g/t gold equivalent over 4.80 meters and ended before reaching the core of a strong IP chargeability anomaly.
Juggernaut has identified five targets here that are related to the surface mineralization data as well as the underground IP data and are located along the 850 meters long anomaly connecting Kokomo and the VG Zone.
Drilling at the Empire Project from August
On the Empire property, the Metallica Zone represents a new discovery in an area from which glacial cover has retreated in the recent past, exposing mineralized outcrops not previously observed at the southern end of the Golden Triangle. Work of limited scope to date has delineated an area of mineralization here of approximately 250 metres by 225 metres that remains open.
Samples from a vein outcropping at surface with massive sulphides up to 30 cm thick returned up to 36,875 g/t silver (1,180 ounces per tonne silver), 4.68 g/t gold, 27.6% copper and 3.27% zinc – one of the highest silver samples ever collected from outcrops in Canada.
Trench samples from the massive sulphide vein returned 22,694 g/t silver (729.6 ounces per tonne), 26.4% copper and 2.8% zinc. The vein extends east-west for 40 meters and indicates a large porphyry feeder system at depth that remains open and amenable to drilling. Five separate, gently dipping veins returned values ranging from 1.00 to 16.4 g/t gold and up to 2,470 g/t silver, 15.45% copper and 1.58% zinc. The veins are up to 30 cm wide, contain quartz + Fe carbonate ± covellite ± sphalerite and are arranged in a traceable series for 50 meters along strike. In close proximity are potassic alteration and porphyritic textures observed at surface, presumably related to a subtle magnetic high, suggesting a porphyritic core at depth.
Juggernaut is planning to test these veins, including the veins with massive sulphides, with drilling beginning in August 2023 and will also test the potentially underlying porphyry feeder system. Drilling totaling approximately 1,200 meters is planned.
Bingo Main Zone also ready for drilling
Last but not least, Juggernaut states that the Main Zone on the Bingo property is a drill-ready area where gold mineralized grab, pick and trench samples have been collected. High gold grades of up to 9.79 g/t were detected at surface in pick samples. Trench samples returned up to 1.77 g/t gold and 0.20% copper over 4.85 metres and 1.48 g/t gold and 0.37% copper over 3.2 metres respectively. In addition, a second zone called Double Down was discovered approximately 1 kilometer to the north, which will also be assayed in 2023. Interestingly, according to Juggernaut, the Bingo property has great similarities to Goliath Resources’ Surebet discovery https://goldinvest.de/unternehmensprofile-b4if, which should be well known to Goldinvest.de readers.
Juggernaut will test the Bingo prospect – expected to begin in August – with up to 1,800 meters of drilling. Additional surface exploration work will be carried out to better understand the folded system at Bingo by mapping and exploring Double Down.
Conclusion: We very much welcome the fact that Juggernaut is now stepping up the pace significantly and will start drilling this summer on all three properties, each of which is 100% controlled by the company. Especially since, according to CEO Dan Stuart, they have outlined “strong drill plans” for targets with world-class discovery potential located in areas where no drilling has been done before. Due to the comparatively mild weather, Juggernaut can start implementing its plans especially early this year. We are eager to see the results of the drilling and exploration programs and hope that expert Dr. Hennigh is correct in his assessment that Juggernaut could make two significant discoveries this year. (Of course, this is not guaranteed as exploration remains a risky business).
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