VANCOUVER, British Columbia, Jan. 15, 2018 (GLOBE NEWSWIRE) -- Juggernaut Exploration Ltd. (TSX-V:JUGR.V) (the “Company” or “Juggernaut”) is pleased to report initial channel, chip, and outcrop grab sample assay results containing polymetallic and gold mineralization from the King Solomon Zone on the Midas property. The Midas Property covers 16,106 hectares and has good road access that continues 14 kilometres to a major highway, power, and a further 10 kilometres by Highway to major infrastructure in Terrace, BC.

• The presence of widespread bedrock-hosted, polymetallic and gold mineralized channel, chip and grab samples over a 2.1 kilometre by 1.6 kilometre area which defines the King Solomon Zone. (link to map)
   
• Channel Cut Highlights: A series channel cuts at the “VG Zone” target area intersected a north-south striking, steeply-dipping mineralized structure (link to map). This anastomosing shear zone is open along strike and to depth. Channel cut intersection highlights include:
  • Channel 1 intersected 4.34 metres of 10.28 grams per tonne gold. True thickness is estimated to be 70-80% of channel intersection width.
  • Channel 6 intersected 4.95 meters of 2.01 grams per tonne gold. True thickness is estimated to be 70-80% of channel intersection width.
  • Channel 15 intersected 2.13 metres of 13.3 grams per tonne gold. True thickness is estimated to be 70-80% of channel intersection width.
  • Channel 4 intersected 3.11 metres of 5.43 grams per tonne gold. True thickness is estimated to be 50-60% of channel intersection width.
  • Two individual 0.85 metre channels, cut in NW-SE orientation within the boundaries of the mineralized structure assayed 88.9 (2.59 oz/t) and 33.8 grams per tonne gold respectively.
     
• The VG Zone shear is drill-ready target for 2018. Full channel sample results are posted at: link to table
   
• Chip Sample Highlights include:
  • 5 metre chip sample that contained 3.68 grams per tonne gold, 6.1 grams per tonne silver, 0.24 percent lead and is 525 metres north of the VG showing.
  • 5 metre chip sample that contained 1.65 grams per tonne gold, 6.3 grams per tonne silver and is 100 metres east of the VG showing.
  • 4 metre chip sample that contained 4.53 grams per tonne gold, 14 grams per tonne silver, 0.14 percent lead and is 500 metres north of the VG showing.
  • 4 metre chip sample contained 5.45 grams per tonne gold, 12.5 grams per tonne silver, 0.39 percent lead and is 550 metres north of the VG showing.
  • 5 metre chip sample contained 1.65 grams per tonne gold 6.3 grams per tonne silver and is 100 metre east of the VG showing.
  • Over a strike length of 750 metres NW from the VG showing, seven chip samples contained between 1.22 and 33.5 grams per tonne gold (link to map).
  • Chip samples were generally collected perpendicular to the strike of the foliation. True thickness of mineralization has yet to be determined for these zones.

                   
Soil Sample Highlights include:

• Soil geochemistry defined a large 1600 by 800 metre zone of anomalous gold-in-soil that remains open. 1133 soil samples were taken with values ranging from background up to 8840 ppb gold including: 752 samples of 10 ppb Au or greater, 364 samples of 20 ppb gold or greater, 98 samples of 50 ppb Au or greater, and 24 returned 100 ppb gold or greater. Mechanized trenching is recommended in preparation for delineating additional drill targets.

The Midas property contains a zone of intense gossan development and quartz-sericite-pyrite alteration that covers an area at least 10 by 18 km as mapped by the British Colombia Geological Survey (McKeown et al., 2007). Within this alteration zone is the King Solomon Zone, defined by polymetallic and gold mineralized channel, chip and grab samples over a 2.1 by 1.6 km area (link to map). Grab samples are selective in nature and not intended to be representative of the material sampled. 

King Solomon Zone

The King Solomon Zone is a 2.1 by 1.6 km region that is defined by widespread bedrock-hosted, polymetallic and gold mineralized channel, chip and grab samples and an extensive gold-in-soil anomaly (link to map). The widespread gold and polymetallic mineralized showings, anomalous soil geochemistry and extensive alteration suggest the King Solomon Zone may be the surface expression of a significant hydrothermal system.

A total 89 channel cuts over 315.1 metres (504 samples) were made that ranged from 0.4 to 15.5 metres in length. Highlights include four channel cuts which intersect a N-S trending, mineralized shear zone at the VG showing. Mineralized intervals from these channels included 4.34 metres of 10.28 grams per tonne gold, 4.95 meters of 2.01 grams per tonne gold and 2.13 metres of 13.3 grams per tonne gold. True thickness is estimated to be 50-80% of channel intersection width (Table 1). Two individual 0.85 metre channels, cut in NW-SE orientation within the boundaries of the mineralized structure assayed 88.9 (2.59 oz/t) and 33.8 grams per tonne gold respectively. Of the 89 channel sample, 12 intersected gold mineralization greater than 1 g/t. The remaining 77 channel cuts did not intersect significant gold mineralization. Full channel sample results are posted at: link to table.

Table 1: Midas Assay Highlights
Sample	Channel/Chip/Grab	Total Length (m)	Length of Mineralized Section (m)	Gold (gpt)	Copper %	Silver (gpt)	Lead %	Zinc %
W489023-W490662	Channel 61	14.6	4.95	2.01	0.02	5.67	0.04	0.01
W489047-W486162	Channel 11	11.39	4.34	10.28	0.90	22.46	0.00	0.05
W486163-8	Channel 42	3.11	3.11	5.43	0.08	9.18	0.02	0.00
W491004-6	Channel 344	2.80	2.80	1.22	0.01	23.1	0.08	0.02
W490978-82	Channel 543	4.20	2.70	4.25	0.02	5.72	0.10	0.01
W489039-W486350	Channel 151	10.99	2.13	13.30	0.02	1.46	0.01	0.00
W490663-6	Channel 84	2.91	2.00	16.37	0.06	31.0	0.00	0.01
W489732-3	Channel 85	1.05	1.05	3.27	0.13	7.60	0.00	0.02
W489702	Channel 693	0.85	0.85	33.80	0.39	8.20	0.00	0.02
W489703	Channel 703	0.85	0.85	88.90	0.12	140.0	0.00	0.00
W489052	Chip4	5.00		3.68	0.02	6.10	0.24	0.02
W489088	Chip4	5.00		1.65	0.02	6.30	0.00	0.04
W486093	Chip4	4.00		4.53	0.02	14.00	0.14	0.01
W486094	Chip4	4.00		5.45	0.04	12.50	0.39	0.01
W487753	Chip4	2.00		2.29	0.00	21.30	0.00	0.02
W502665	Chip4	2.00		1.72	0.62	18.00	0.00	2.77
W486096	Chip4	2.00		1.43	0.02	25.80	0.64	0.02
W490622	Chip4	1.50		2.42	0.01	42.10	0.13	0.07
W489095	Chip4	1.30		5.34	0.57	15.50	0.00	0.04
W490620	Chip4	1.27		1.08	0.01	2.10	0.08	0.10
W489096	Chip4	1.20		2.03	0.96	3.40	0.00	0.48
W490924	Chip4	0.70		33.50	0.11	59.90	1.14	0.04
W490901	Chip4	0.40		1.22	1.05	14.80	0.00	0.32
W489054	Outcrop Grab5			20.70	0.05	37.30	1.14	0.05
W489196	Outcrop Grab5			9.40	0.02	4.80	0.00	0.04
W492003	Outcrop Grab5			5.31	1.02	20.80	0.00	0.05
W487676	Outcrop Grab5			5.11	0.10	13.90	1.32	0.76
W489094	Outcrop Grab5			3.55	5.44	34.40	0.00	0.30
W490508	Outcrop Grab5			2.72	0.07	112.00	7.74	11.05

¹Estimate true thickness 70-80% of channel intersection width.
²Estimate true thickness 50-60% of channel intersection width.
³²Contained within mineralized shear zone
⁴True thickness remains to be determined
⁵Grab samples are selective in nature and not intended to be representative of material sampled

One hundred and eighty total chip samples were taken that range from below detection limit to 33.5 grams per tonne gold. Fifty-seven chip samples returned assays greater than 0.1 grams per tonne, sixteen of which returned assays ranging from 1.08 to 33.5 grams per tonne gold. Chip samples were generally collected perpendicular to the strike of the foliation. True thickness of mineralization has yet to be determined for these zones.

One hundred and forty-two bedrock grab samples were taken that returned assays ranging from below detection limit to 20.7 grams per tonne gold, with ninety-nine percent of samples above detection limit, and 57 samples above 0.1 grams per tonne gold. Highlights include (Table 1) a sample that contained 20.7 grams per tonne gold, 37.3 grams per tonne silver, and 1.14 percent lead. Grab samples are selective in nature and not intended to be representative of the material sampled.

Discussion of Soil Sampling Results

An extensive soil sampling program was completed over an area of approximately 1.7 by 1.2 kilometres with 50 metre spaced grid lines and samples taken every 25 metres. The combined soil dataset shows an anomalous region of gold-copper-silver measuring approximately 1600 by 800 metres (link to map). This anomaly can be subdivided in to three separate anomalies with values greater than 50 ppb. All three of these soil anomalies broadly strike NW, the largest of the three extends over 1000 by 250 metres from the southeast corner of the soil grid and it remains open to the east. Towards the northern margin of said anomaly a second 650 by 150 metre anomaly strikes northwest and is broadly a continuation of the first. The third anomaly is approximately situated over the VG showing and again strikes northwest for ~ 600 metres and remains open to the south. Mean gold value of the 1133 soil samples is 27 ppb (median value of 10 ppb and an SD of 265). Background Au in soil in this area is less than 10 ppb.
The second and third anomalies correlate with widespread gold in bedrock samples of >0.2 grams per tonne gold (link to map). Therefore, the soil anomaly appears to correlate very well with gold in bedrock and can thus be used as a vectoring tool for trenching to delineate additional drill targets in underexplored areas. One such area is the largest of the soil anomalies, where very few bedrock samples have been taken. These geochemical anomalies will be followed-up in 2018 with trenching, ground geophysics, mapping, prospecting, and an expanded soil sampling program in preparation for drilling.

Midas Property Geology

The Midas property is underlain by the Paleozoic Mount Attree volcanic complex. Work by the BC Geological Survey (McKeown et al., 2007) documented a zone of intense gossan development and quartz-sericite-pyrite alteration covering an area at least 10 by 18 kilometres in size. This alteration system suggests that the Mount Attree volcanic complex has the potential to host volcanic-hosted massive sulphide mineralization. Post-volcanic deformation and intrusive activity has caused significant remobilization of gold into faults, shear zones, and along foliation. Furthermore, the Paleozoic volcanic rocks are 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.

Stringer quartz-pyrite-chalcopyrite-sphalerite veins, stockworks, breccias and silicified zones are seen across the entire 2.5 square kilometer King Solomon Zone, and stratiform lenses and horizons of massive to semi-massive sulfides occur in several sites within the extensive QSP and QCP alteration zone.

Post-volcanic deformation and intrusive activity has caused significant remobilization of precious and base metals into faults, shear zones, and along foliation planes. This is observed in other VMS mineralizing systems adjacent to the original sulphide lenses. Gold mineralization on the Midas property appears to be related to an intensely developed array of first (NNW–N) and second order fault structures (NE and NW). The orientation of these property structures are consistent with orientations of veins and silicified zones hosting mineralization. The intersection points of these structures may be an important control on sulphide and gold distribution by offering brittle sites prone to dilation that offer conduits for migrating mineralizing fluids.

The planned 2018 drill program will be designed to test the source of the hydrothermal gold mineralization within the King Solomon Zone. In addition to drilling, ground IP, channel sampling, trenching, prospecting and geological mapping is recommended to outline the full geometry of the King Solomon Zone on surface and to depth. The Midas Property has seen very little exploration compared to other strongly altered and mineralized prospective VMS areas in BC. In addition, the rapid receding snowpack over the last five years has revealed widespread gold mineralized outcrop leading to this exciting discovery.

Statements

Mr. Dan Stuart, Director, President and CEO of Juggernaut states:

“The team has delivered exceptional results that have far exceeded our expectations all in a short period of time. Midas is located in a world class geologic setting remains largely unexplored and has tremendous untapped discovery potential .We look forward to tracing the full extent of this extensive gold mineralized zone to depth by drilling. Juggernaut looks forward to also announcing assay results from three other DSM properties as they become available and interpreted.”

Dr. Stefan Kruse. P.Geo, Chief Consulting Geologist stated:

“The discovery of a new extensive zone of gold-rich polymetallic mineralization and alteration at surface on the King Solomon Zone is very exciting and we look forward to outlining the full extent of this discovery both along strike and at depth. I have strongly recommended a comprehensive exploration and drill program in 2018 targeting this exciting discovery.”

For new maps and photos please go to the website at JuggernautExploration.com

Other

Stefan Kruse, Ph.D., P. Geo., Chief Geologist, 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. Further information regarding Juggernaut’s Midas and Empire properties can be sourced on-line at www.juggernautexploration.com, or by contacting Dan Stuart at 778-233-0293.

All rock, channel and talus fine samples were crushed and pulverized at ALS Canada Ltd.’s lab in Terrace, BC or in Reno, Nevada. 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 Reno, Nevada or in Vancouver, BC. The pulps were also assayed using multi-element aqua regia digestion at ALS Canada Ltd.’s lab in Vancouver, BC. The silt samples were sieved and assayed at ALS Canada Ltd.’s lab in Vancouver, BC. The coarse reject portions of the rock, channel and talus fine samples, as well as the pulps, were shipped to J2 Syndicate’s storage facility in Terrace, BC. The silt samples were disposed of after analysis. 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 ppm 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 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. Blanks and duplicates QA/QC samples were inserted into channels sample laboratory batches. Additionally, and 10% sub-sample of pulp and reject material was sent to Activation Laboratories in Ancaster Ontario, for check-analysis.

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.

On behalf of the Board of Directors,

“Dan Stuart”

Dan Stuart Director, President, and CEO

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. Certain 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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