Exploration Commenced on Bingo Property in Golden Triangle, B.C. and Provides Additional 2022 Exploration Plans

June 23, 2022 7:45 AM EDT

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VANCOUVER, British Columbia., June 23, 2022 (GLOBE NEWSWIRE) -- Juggernaut Exploration Ltd (JUGR.V) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) is pleased to report exploration has commenced in preparation for drilling onto the 100% controlled Bingo property. The Bingo property was generated by the J2 Syndicate within the Eskay Rift region of the Golden Triangle. The property is situated within two kilometres of the unconformity between Lower Hazelton and Stuhini Group rocks, also known as the “Red Line” boundary where the vast majority of large deposits have been found in the Golden Triangle. The property has an area of 989 hectares and is located 45 km SSW of Stewart, BC and 28 km W of Kitsault, and only 12 km to tidewater landing and roads in the historic mining town of Anyox, providing for cost effective exploration.

  1. Bingo 2016 to 2018 Historical Highlights include:

The Bingo Main target is an original discovery that has never been drill tested. The zone contains significant historical gold mineralized grab, chip and channel samples over an area of 420 metres x 320 metres. The zone is open both on surface and to depth and is drill ready. Highlights include:

  • 83% of all the samples taken contained gold mineralization
  • Historical channel cut over 4.85 metres assayed 1.77 gpt Au, and 0.20 % Cu Drill ready
  • Historical channel cut over 3.2 metres assayed 1.48 gpt Au and 0.37 % Cu Drill ready
  • Between 2016 and 2018, 19 chips samples were collected and assayed up to 9.79 gpt Au and 18 grab samples that returned assay values up to 1.22 gpt Au
  • 2022 program includes ground and drone mapping, sampling, ground geophysics and BLEG geochemistry focussed on defining additional drill targets in preparation for drilling.
  • Link to images and maps
  1. Exploration Up-Date:

Goldstar: 2022 planned drilling is to commence in early July expanding upon the 5 discovery holes drilled in 2021, all of which intersected significant widths of high-grade gold /polymetallic mineralization in quartz-chlorite-sulphide veins on the newly discovered Goldilocks Zone. Drill hole GS-21-05 intersected 10.795 gpt Au (14.31 AuEq) over 5.5 m including 29.2 gpt Au (38.37 AuEq) over 2.0 m. The Goldilocks Zone has been traced on surface for 290 meters with 160 meters vertical relief before being covered by overburden and remains open both along strike and to depth. With strong gold mineralization confirmed in all the drill holes strongly suggests the presence of a significant gold system that remains under-explored. The 2022 drilling will focus on testing the Goldilocks Zone on strike for up to ~300 meters and down dip up to 400 m.

Goldstandard: 2022 planned drilling is to commence in early July following up on drilling in 2021, Drill hole GSD-21-10 intersected 2.146 gpt Au (2.302 gpt AuEq) over 6.5 m including 3.284 gpt Au (3.498 gpt AuEq) over 4.0 m and 8.210 gpt Au (8.638 gpt AuEq) over 1 m. The Goldzilla Zone has been traced on surface for 800 m with a vertical relief of 300 m and remains open both to the southeast and to depth, only a small fraction has been drill tested (~50 meters along strike). Drilling is planned to test both down dip and strike of three of the seven extensive high grade polymetallic gold silver veins discovered on surface on the property. Goldzilla, Kraken and Phoenix, only a small portion of the Goldzilla vein has been tested to date which confirmed gold mineralization both along strike and to depth that remains open.

Midas: Surface exploration is planned to commence in August focused on sampling and mapping the discovery outcrop both along and across strike in preparation for drilling on the recently discovered Kokomo Eskay-style Volcanic Hosted Massive Sulphide (VHMS) target. The Kokomo outcrop contains high grade gold-silver polymetallic mineralization in semi-massive to massive sulphides where a 1 m chip sample assayed 9.343 gpt Au, 117 gpt Ag, 1.58 % Cu and 1.77 % Zn. This newly discovered outcrop is located 700 m in the headwaters of a drainage where a Bulk Leach Extractable Gold (BLEG) stream sediment sample assayed 29 ppb Au, 613 ppb Ag, 137 ppm Cu, 54.4 ppm Pb and 462 ppm Zn. The high-grade polymetallic gold silver mineralization remains open in all directions where outcrops of the same or similar lithology extend over several hundred metersStatements

Dan Stuart, President and CEO of Juggernaut Exploration, states: “We are excited to have begun our most expansive and aggressive exploration season at Juggernaut to date. We are drilling and exploring four 100% controlled original discoveries this summer, all of which have the potential to become the next big gold discovery in BC. We look forward to providing news around drilling, exploration and results as the exploration program progresses this summer. Juggernaut is in a very unique position, with a tight share structure of just over 43MM shares issued and outstanding and $4,000,000 currently in the treasury including exploration rebates. Juggernaut is fully funded and on track for the rapidly approaching exploration programs for both 2022 and 2023.”

Qualified PersonRein Turna P. Geo is the qualified person as defined by National Instrument 43-101, for Juggernaut Exploration projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.

OtherThe reader is cautioned that grab samples are spot samples which are typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intended to be representative of the material sampled. In addition, the reader is cautioned that proximity to known mineralization does not guarantee similar mineralization will exist on the properties.

For more information, please contact:Juggernaut Exploration Ltd.

Dan StuartPresident and Chief Executive OfficerTel: (604)-559-8028www.juggernautexploration.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

FORWARD LOOKING STATEMENTCertain disclosure in this release may constitute forward-looking statements that are subject to numerous risks and uncertainties relating to Juggernaut’s operations that may cause future results to differ materially from those expressed or implied by those forward-looking statements, including its ability to complete the contemplated private placement. Readers are cautioned not to place undue reliance on these statements.

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION TO PURCHASE ANY SECURITIES DESCRIBED IN IT.

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Source: Juggernaut Exploration Ltd


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