Rackla Metals Stakes the Excite Property in Tombstone Gold Belt

2023-04-25 / @thenewswire

(TheNewswire)

Vancouver, British Columbia – TheNewswire - April 25, 2023 – Rackla Metals Inc. (TSXV:RAK) (the “Company”) is pleased to announce that it has staked 146 quartz claims, an area approximately 30.5 square kilometers or 3,050 hectares, in the Tombstone Gold Belt, Yukon. These claims are known as the Excite Property and are located 40 km west of Snowline Gold’s Valley discovery and 115 km west of Rackla’s Astro project. A map indicating the location of these new claims may be viewed below.

Figure 1. Excite Property Location

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The prospect was identified by researching government regional geochemical survey data (RGS), the Yukon Geological Survey Enhanced Interpretation of the RGS Weighted Sums Model for Intrusion-related Gold Deposits, regional airborne magnetic survey data and historic assessment reports. The Excite Property stood out as highly prospective for its potential to host a Reduced Intrusion-related Gold System (RIRGS) based on numerous criteria. The Weighted Sums Model for Intrusion-related Gold Deposits identified the streams draining the property as within the 95-98th percentile for this deposit type. Heavy mineral concentrate sampling conducted in 2013 on 4 streams draining the western side of the property returned highly anomalous values of 461, 1,740, 10,700 and 11,000 ppb gold. Finally, the airborne magnetic survey identified a circular magnetic low feature with magnetic high “shoulders“ measuring 1.8 km in diameter in the centre of the property.

Rackla is planning a summer program to evaluate the property which will consist of stream sediment sampling, soil sampling, geological mapping and prospecting to trace the gold anomalies and define drill targets.

Rackla Metals is focused on exploration in the Tombstone Gold Belt of Yukon and Northwest Territories. The geological target at Rackla’s properties is a Reduced Intrusion-Related Gold System (RIRGS). The Company anticipates that the exploration programs will commence on or around June 1.

Simon Ridgway, CEO commented: “We are pleased to have increased our footprint in our Yukon portfolio of projects with a target as prospective as the Excite. The strength of the gold anomalies in streams draining the area is impressive. Recent gold discoveries in the intrusive bodies and surrounding sediments in the belt indicate there is potential for other near surface, high-grade bulk tonnage gold deposits to be discovered in the district and the acquisition of the Excite Property makes Rackla Metals a significant land holder in the eastern Tombstone Gold Belt.”

Qualified Person

Scott Casselman, B.Sc., P.Geo., Vice-President Exploration of the Company, is a member of the Association of Professional Engineers and Geoscientists of British Columbia and is the Company’s Qualified Person as defined by National Instrument 43-101. Mr. Casselman has reviewed 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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

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.