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Juggernaut Exploration Ltd.
Summary
| Project: | Midas | |
|---|---|---|
| Deposit: | Midas | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Copper-Lead-Zinc | |
| Date: | 1/8/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 8-1-2019: Juggernaut Exploration Ltd. announces an Exploration/Drilling Update report for its Midas deposit at the Midas project. Drilling results incl. 9.0m @ 6.85g/t Au, 1.52g/t Ag, 0.07% Cu, 0.03% Pb, 0.09% Zn from 35.0m. Vancouver, British Columbia – | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Stephen Roach (Not stated) | |
| ABSTRACT: | Vancouver, British Columbia – January 8 th, 2019 – Juggernaut Exploration Ltd. (JUGR.V) (the “Company” or “Juggernaut”) is pleased to report the discovery of a new high-grade gold zone on its 100 % controlled Midas property, where diamond drill hole MD-18-08 intersected 6.85 g/t Au over 9.0 m between 35.0 and 44.0 meters downhole. This shallow gold mineralization is believed to be peripheral and marginal to a deeper feeder source, as indicated by the core of a large multi-line, newly identified IP anomaly, located ~125 meters below the surface. This buried core underlies an area of this anomaly, that is situated 150 meters north of hole MD-18- 08, under drill hole MD-18-16 from 1.5 to 36.85 meters down-hole. The discovery of this new zone, located within a regional world class VHMS setting, confirms the strong potential for the Midas property to host a significant discovery (Figure 1). The 2018 mapping, geochemistry, alteration studies, and geophysics, combined with the inaugural exploratory shallow drilling, was designed to expand the understanding of the controls on mineralization and the geological model. The 2018 drilling targeted eight surface targets identified within the extensive 2.1 km by 1.6 km King Solomon Trend. The 2019 drill program will focus on expanding the discoveries, both to depth and along strike, drilling the buried core(s) of the newly identified large, subsurface IP chargeability and resistivity anomalies. These buried core(s) are believed to be the feeder source to the shallow structurally related polymetallic mineralization seen on surface and in the 2018 shallow drilling. | |
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