Mr. Dan Stuartof Juggernaut reports
DSM SYNDICATE DISCOVERS SECOND HIGH GRADE ZONE ON GOLDSTAR PROPERTY WITH SAMPLES UP TO 20.6 GRAMS PER TONNE GOLD AND 761 GRAMS PER TONNE SILVER REMAINS OPEN
Juggernaut Exploration Ltd. andGoliath Resources Ltd. have released channel, chip and grab sample assay results from the Gold Star property at the newly discovered 190-metre-long Goldilocks quartz vein stockwork zone and the Yellow Brick Road vein discovered in 2017 that has been expanded from 90 to 170 metres long, both zones remain open in all directions. Samples assayed up to 24.55 grams per tonne gold equivalent (20.6 g/t gold, 329 g/t silver, 0.02 per cent lead) and 40.5 grams per tonne gold equivalent (29.6 g/t Au, 845 g/t Ag, 0.3 per cent Cu and 0.55 per cent Pb) from each zone, respectively. The DSM syndicate owns 100 per cent of the Gold Star property covering 793 hectares that it generated and staked. DSM is a private project generator that holds a total of six British Columbia properties of which Juggernaut Exploration owns a 20-per-cent interest.
2018 highlights include:
Two new high-grade quartz vein and stockwork zones, no previous work recorded in the area: Goldstar property -- large areas that remain to be explored with excellent gold potential;Yellow Brick Road zone: The Yellow Brick Road zone extended based on high-grade gold-mineralized samples from 90 metres to 170 metres in length and remains open in all directions; Channel samples over 0.3-metre assay up to 28.7 g/t Au, 410 g/t Ag, 1.4 per cent Cu and 6 per cent Pb;Goldilocks zone: Quartz vein and stockwork zone samples define an area of 190 metres by 20 metres with highlights including 24.55 g/t AuEq (20.6 g/t Au and 329 g/t Ag) from a one-metre chip sample and 13.65 g/t AuEq (9.34 g/t Au and 353 g/t Ag) from a 1.5-metre chip sample, and the zone remains open in all directions;The high-grade gold and silver mineralization confirmed on surface at these two discovery zones located 500 metres apart providing strong drill targets to test for a large gold-mineralizing system at depth.
The Gold Star property is situated 23 kilometres south of Bella Coola, B.C., and is located approximately 5.5 kilometres from logging access roads and lies within 4.5 kilometres of South Bentick Arm and tidewater. The Gold Star property is an original discovery with no previous recorded work in the area. The prospect was generated and staked by the DSM syndicate following positive results from a reconnaissance prospecting program in 2017 and followed up with a short program in 2018 that involved channel sampling, prospecting and drone imagery.
Rapid glacial and snowpack recession has exposed extensive areas of bedrock with additional strong potential to host gold mineralization.
Host rock is variably altered with zones of pervasive chloritization, oxidized pyritization and local clay alteration. The Yellow Brick Road zone is pyrite-chalcopyrite-galena bearing; vuggy quartz veins are up to one metre wide with an encompassing pyritic and quartz-sericite-pyrite alteration envelope that is up to 30 centimetres wide. Offshoot veinlets form local breccia and stockwork in the altered wall rock. Sulphides occur as coarse seams and dissemination within quartz vein material.
A total of 17 rock samples were taken at the newly discovered Goldilocks zone, 14 of which returned greater than one g/t Au and up to 20.6 g/t Au and 329 g/t Ag from a one-metre chip sample. The mineralized grab samples define an area approximately 190 by 20 metres, in an area of recent glacial and snowpack recession. Five grab samples and four channel grab samples were taken at the Yellow Brick Road zone this season, expanding on the high-grade mineralization discovered last year. The grab samples ranged from 2.5 to 29.6 g/t Au and 49 to 845 g/t Ag. Similarly, channel grab samples returned up to 28.7 g/t Au, 410 g/t Ag, 1.4per cent Cu and 6 per cent Pb.
GOLDSTAR PROPERTY HIGHLIGHTS Sample No.LengthGoldSilver Copper LeadAuEq (2)(metres) (g/t) (g/t)(%)(%) (g/t)W49696829.60845.00 0.30 0.55 40.47W497407 0.30 28.70410.00 1.40 6.00 38.88W496863 1.00 20.60329.00 0.00 0.02 24.55W49686011.70313.00 0.09 0.03 15.60W497406 0.30 11.10260.00 1.97 1.28 18.00W496862 1.509.34353.00 0.05 0.02 13.65W496970 6.82141.00 0.54 0.059.40W496969 5.33113.00 0.20 0.527.27W386012 4.90 74.10 0.05 0.466.10W496920 1.004.28133.00 0.00 0.005.87W497408 0.273.91 89.40 0.05 0.055.08W496922 2.99761.00 0.96 0.42 13.84W496861 2.65 52.00 0.00 0.033.29W496865 2.55 44.30 0.01 0.023.11W496971 1.002.45 48.50 0.25 0.033.44W496921 1.42 32.50 0.00 0.091.85W496924 0.501.15 27.00 0.00 0.001.47W496919 1.500.77 19.10 0.00 0.000.99W497409 0.750.262.70 0.01 0.010.31W496864 0.125.30 0.00 0.000.18W387515 (3)55.80795.00 1.7112.30 74.28W387513 (3)21.40339.00 0.66 4.85 28.97W387517 (3)16.70212.00 0.17 0.40 19.71W387516 (3)16.20267.00 1.25 2.62 22.71W387512 (3) 0.672,340.00 1.67 0.11 31.39W387514 (3) 9.28152.00 0.07 0.13 11.28(1) True thickness of mineralized zone not known.(2) AuEq metal values are calculated using: Au $1,222.9/ounce, Ag $14.63/ounce, Cu $2.8499/pound.(3) 2017 sample data.
High-grade polymetallic veining has been sampled over about one km strike length indicating strong potential for a large mineralizing system at depth. Additionally, the Goldstar property lies in an area of prolonged intrusive activity in a geological setting favourable for gold and polymetallic mineralization.
Based on encouraging precious and base metals results from grab and channel samples resulting from two one-day programs, a systematic and comprehensive exploration program is strongly recommended in preparation for drilling. Upcoming planned work includes further prospecting and preliminary mapping, drone mapping on both the Yellow Brick Road and Goldilocks zones, coupled with property-wide reconnaissance prospecting and geochemical sampling.
Extensive regions of snowpack and glacial recession provide large areas with strong gold potential that remain to be explored. Follow-up work will focus on expanding the known extent of mineralization at the Yellow Brick Road and Goldilocks zones, which will lead to the understanding and modelling of this gold-rich mineralizing system. Follow-up prospecting of the vast unexplored regions of the Goldstar property adds to future discovery potential. Close proximity to logging roads and tidewater provides for good access to infrastructure.
Juggernaut Exploration owns a 20-per-cent interest in the DSM syndicate.
Qualified person
Stephen Roach, PGeo, 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.
Other
All rock, channel and talus fine samples were crushed and pulverized at ALS Canada Ltd.'s lab in Vancouver, B.C. ALS is either certified to ISO 9001:2008 or accredited to ISO 17025:2005 in all of its locations. The resulting sample pulps were analyzed for gold by fire assay in Vancouver, B.C. The pulps were also assayed using multielement aqua regia digestion at ALS Canada Ltd.'s lab in Vancouver, B.C. The coarse reject portions of the rock samples, as well as the pulps, were shipped to DSM Syndicate's storage facility in Terrace, B.C. All samples were analyzed using ALS Canada Ltd.'s assay procedure ME-ICP41, a 1:1:1 aqua regia digestion with inductively coupled plasma atomic emission spectrometry (ICP-AES) or inductively coupled plasma mass spectrometry (ICP-MS) finish for 35 elements as well as the Au-AA24 lead collection fire assay fusion procedure with atomic absorption spectroscopy (AAS) finish. Any results greater than 100 parts per million for silver or 10,000 ppm copper, lead and zinc were additionally assayed using ALS's OG46 method particular to each element. This method used an HNO3-HCl (aqua regia) digestion followed by ICP-AES (or titrimetric and gravimetric analysis). Gold values of greater than 10 ppm Au were assayed by the Au-GRA22 method which includes a fire assay fusion procedure with a gravimetric finish. Quality assurance/quality control samples including blanks, standards and duplicate samples were inserted regularly into the sample sequence.
The 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.
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