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Juggernaut Mobilizes to 100 % Controlled Gold Rich Midas Property Located in NW BC
VANCOUVER, British Columbia, Aug. 04, 2020 (GLOBE NEWSWIRE) -- Juggernaut Exploration Ltd. (TSX V:JUGR) (OTCQB:JUGRF) (FSE:4JE) (the “Company“ or “Juggernaut”)
About this update from Juggernaut Exploration Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 04, 2020 (GLOBE NEWSWIRE) -- Juggernaut Exploration Ltd. (TSX V:JUGR) (OTCQB:JUGRF) (FSE:4JE) (the “Company“ or “Juggernaut”) is pleased to report mobilization of the 2020 exploration program on Midas, where all 25 drill holes to date have intersected gold and polymetallic mineralization. The exploration team will focus on strong VHMS targets that remain to be tested within the 2.1 x 1.6 km King Solomon Trend. The Midas project is a rare opportunity with world-class potential as demonstrated by support by institutions and interest from miners alike. The Midas property is host to the King Solomon Trend located within a district scale 18 x 10 km alteration zone that was mapped by the British Columbia Geological Survey as correlative with the Stikine assemblage which is host to multiple, significant VHMS deposits within British Columbia such as the Eskay Creek, Tulsequah Chief, Anyox, and Granduc deposits. Juggernaut’s Midas property drilling highlights are: Diamond drill hole MD-18-08 intersected 6.85 g/t Au over 9.0 m between 35.0 and 44.0 meters down hole. Drill hole MD-18-16 returned 0.21 g/t Au, 1.77 g/t Ag, and 0.32 %Zn from surface to 35.35 metres. The hole collared into a sulphide-rich hydrothermal breccia that is believed to be associated with a VHMS stringer zone. All 25-drill holes on Midas intersected gold and polymetallic mineralization, further confirming the strong potential for a significant feeder source. 25% of the drill holes returned significant intercepts of gold and polymetallic mineralization. The British Columbia Geological Survey (BCGS; McKeown et al.,2007) mapped a conformable sequence of layered Paleozoic felsic to mafic subaqueous volcaniclastic rocks and documented an extensive alteration zone, with the King Solomon Trend at its core for at least 2.1 kilometers. Intense alteration system with zones of widespread gossan development, silicification, Fe-rich chloriticalteration, Na-Ca depletion, and quartz-sericite-pyrite development. The Midas property covers 16,653 hectares, 100% option by Juggernaut, has logging road access on property and is only 14 km to major power, CN rail, and roads with another 10 km to Terrace, BC. The project is 45 km from Kitimat deep-sea port. Dan Stuart, Director, President and CEO of Juggernaut states: “The compilation of the 2019 and 2018 ...