Rackla Metals focuses on Tombstone intrusive related gold

2022-08-25 / @thenewswire

(TheNewswire)

Vancouver, British Columbia -- TheNewswire – August 25, 2022 – Rackla Metals Inc. (TSXV:RAK) (OTC:RMETF) is pleased to provide additional information regarding the Company’s staking of 3 claim groups targeting intrusive related gold mineralization in the Northwest Territories, Canada. The staking includes 14 claims covering approximately 11,500 ha and targets the extension of the Tombstone terrain from the Yukon Territory into the Northwest Territories.

Following the significant intrusive related gold discovery made by Snowline Gold Corp at the Rogue project within the Tombstone Gold Belt, Yukon Territory, Rackla’s teams have used their historic experience in the district to trace the geology and geophysics 90km southeast across the Yukon-NWT border. The 14 claims are located 11 to 26km east of the Canol Road and Macmillian Pass airstrip, providing access to the properties.

Figure 1. Project Location

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Multiple intrusive bodies belonging to the Tombstone Plutonic Suite have intruded the Selwyn basin sediments within the Rackla claims. These intrusives range from syenite to granodiorite in composition (e.g. Duncan, 1999), though most are classified as granites (Cecile, 1989). Several large, polyphase plutons to 10 kilometres in diameter are accompanied by smaller stocks with surface exposures less than a kilometre. Conspicuous zones of contact metamorphism surround most of the intrusions within the area of the claim blocks staked.

Previous work by operators in the Yukon on the other side of the divide have recorded significant stream sediment gold anomalism that appear to be draining several of the intrusive bodies within the NWT and recent mapping has identified stock-worked and veining within the intrusive bodies, especially so in the recessive areas where the intrusive bodies form valleys (see photos on Rackla’s website).

The intrusive bodies and gossanous contacts within the Rackla claims are as yet unexplored. Rackla plans to complete a detailed airborne magnetic program, prospecting and geological mapping in the months remaining for the current field season.

Qualified Person

Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Rackla’s Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Smith prepared and approved the technical information contained in this news release.

ON BEHALF OF THE BOARD

Simon Ridgway,

CEO and Director

Tel: (604) 801-5432; Fax: (604) 662-8829

Email: info@goldgroup.com

Website: www.racklametals.com

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Forward-Looking Information

Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward- looking statements and include, without limitation, statements about the Company’s proposed exploration activities. Often, but not always, these forward looking statements can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company’s stated goals and planned exploration activities at its properties will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.