Juggernaut Exploration Ltd.: Discovers New Zones With Channel Samples
Grading 11.2 Grams Per Tonne Gold Equivalent Over 4.6 Metres, 16.8 Grams Per Tonne Gold Equivalent Over 5 Metres, and 59 Grams Per Tonne Gold Equivalent Over 2 Metres, in Outcrop on EmpireVANCOUVER, Nov. 29, 2017 - Juggernaut Exploration Ltd. (TSX-V:JUGR.V) (the “Company” or “Juggernaut”) is pleased to report initial channel and chip samples containing polymetallic mineralization on its new Max Min and existing Metalworks, Metallica and Olympus discoveries, located on the Empire property, 40 km northeast of Terrace British Columbia.
A highlight of the 2017 program was the discovery of the Max Min zone. The best channel sample from the Max Min contained 11.15 grams per tonne gold equivalent over 4.6 meters (including 4.8 grams per tonne gold, 0.26 % copper, 3.73 % zinc, and 4.85 % lead). The channel started and finished in mineralization due to snow cover and mineralization remains open. Gold, copper, lead and zinc mineralized samples in outcrop define a zone 170 by 100 metres in size which open in all directions and to depth.
- The gold and polymetallic mineralization confirmed at the Max Min, Metalworks, Metallic, Rockstar and Olympus targets, coupled with the widespread porphyry dykes and extensive potassic and propylitic alteration (link to images) within the 5.5 km Inca Trend are consistent with porphyry-style mineralization on the Empire Property.
- The extension of the Inca Trend to 5.5 kilometres during the 2017 program resulted from multiple new polymetallic discoveries in just over a month of field work.
- Based on the positive 2017 results, the company has expanded the claims block from 9852 hectares to 14,552 hectares.
2017 Highlights Include:
Max Min
- Channel sample containing 11.15 grams per tonne gold equivalent including 4.8 grams per tonne gold, 0.26 % copper, 3.73 % zinc, and 4.85 % lead over 4.6 metres. The channel cut started and ended in mineralization due to snow cover and the zone remains open-ended.
- Chip sample containing 59.02 grams per tonne gold equivalent including 47.20 grams per tonne gold, 0.02 % copper, 5.39 % zinc, and 12.3 % lead over 2.0 metres.
- Gold and polymetallic mineralized samples with potassic alteration over a zone measuring 170 by 100 m and open in all directions.
- The Max Min zone is a drill ready target.
Metalworks
- Chip samples containing 16.8 grams per tonne gold equivalent including 2.64 gram per tonne gold, 277 gram per tonne silver, 0.04 % copper, 3.88 % zinc, and 11.95 % lead over 5 m. True thickness of this zone is not known.
- The zone is characterized by extensive hydrothermal breccia, potassic alteration and propylitic alteration.
- Exploration in 2017 has more than doubled the size of the zone with gold mineralized samples from 95 by 85 metres in 2016 to 300 by 130 metres. The zone is open in all directions.
- The Metalworks zone is a drill ready target.
Olympus
- Chip sample containing 11.2 grams per tonne gold equivalent (0.42 gram per tonne gold, 625 gram per tonne silver, 1.37 % copper, 0.22 % zinc, and 0.08 % lead).
- Outcrop grab samples containing up to 1.01 gram per tonne gold, 1185 gram per tonne silver, and 3.74 % copper from different samples.
Max Min Zone
The Max Min zone was discovered in late August 2017 due to ongoing snowpack and glacier recession, exposing new mineralized bedrock. Max Min is located 300 metres northwest of Metallica, 400 metres west of Metalworks, and is part of the much larger, newly extended, 5.5 by 1.5 kilometre Inca Trend (link to map).
The high-grade polymetallic, gold mineralization, and potassic alteration at Max Min suggest the presence of feeder zone for the hydrothermal system at depth. The planned 2018 drill program will be designed to test the source of the hydrothermal gold mineralization in this key target area. In addition to drilling, ground IP, channel sampling, prospecting and geological mapping is recommended to outline the full geometry of the Max Min bedrock discovery. The rapid ongoing snowpack and glacial recession has provided newly exposed outcrop every year, all with strong discovery potential along the entire 5.5 km under explored Inca Trend.
A total of 35.1 metres of channel cuts were made that ranged from 0.5 to 6.7 metres in length. Highlights include a channel sample containing 11.15 grams per tonne gold equivalent (4.8 grams per tonne gold, 0.26 % copper, 3.73 % zinc, and 4.85 % lead) over 4.6 metres. This sample ended-in mineralization due to snow-cover at the time of sampling. Six channel samples of a metre or less ranged from 11.65 to 58.72 grams per tonne gold equivalent (See Table 1).
Table 1: Max Min Zone Assay Highlights
| Sample | Type | Length (metres)1 | Gold Eq (gpt)2 | Gold (gpt) | Copper % | Zinc % | Lead % |
| W489803-8 | Channel | 4.6 | 11.15 | 4.80 | 0.26 | 3.73 | 4.85 |
| W503171 | Chip | 3.4 | 9.80 | 7.43 | 0.22 | 0.72 | 2.35 |
| W493000 | Chip | 2.0 | 59.02 | 47.20 | 0.02 | 5.39 | 12.3 |
| W501110 | Chip | 2.0 | 28.72 | 13.30 | 0.63 | 11.4 | 8.74 |
| W501111 | Chip | 2.0 | 24.19 | 12.95 | 0.77 | 5.90 | 8.64 |
| W503310 | Chip | 2.0 | 21.88 | 13.55 | 0.20 | 5.78 | 5.59 |
| W501207 | Channel | 0.5 | 58.72 | 56.4 | 0.08 | 0.72 | 2.65 |
| W501203 | Channel | 0.5 | 50.06 | 38.1 | 0.02 | 7.66 | 9.60 |
| W501204 | Channel | 0.5 | 31.17 | 30.4 | 0.01 | 0.51 | 0.57 |
| W501206 | Channel | 0.6 | 38.38 | 36.9 | 0.02 | 0.12 | 2.21 |
| W501210 | Channel | 1.0 | 22.90 | 10.3 | 1.25 | 7.66 | 7.27 |
| W501211 | Channel | 1.0 | 11.67 | 3.85 | 0.29 | 4.62 | 6.02 |
| W490533 | Chip | 0.5 | 9.48 | 8.82 | 0.00 | 0.22 | 0.79 |
| W492999 | Chip | 0.2 | 18.80 | 18.70 | 0.06 | 0.00 | 0.00 |
| W501178 | Outcrop Grab | 19.18 | 13.55 | 0.02 | 3.07 | 5.18 | |
| W502670 | Outcrop Grab | 27.93 | 12.55 | 9.13 | 0.00 | 0.14 | |
| W387652 | Outcrop Grab | 14.91 | 7.69 | 0.08 | 4.70 | 5.50 | |
| 1True thickness of mineralized zone not known. 2AuEq based on Metal Prices on Nov 14, 2017: Au $1273.4 oz; Cu $3.1115 lb; Pb $ 1.1347 lb; Zn $1.4701 lb | |||||||
Twenty-four total chip samples were taken that range from below detection limit to 59.02 grams per tonne gold equivalent (47.2 grams per tonne gold, 0.02 % copper, 5.39 % zinc, and 12.3 % lead). Twenty-four grab samples (Table 1) were taken that ranged from below detection limit to 27.93 grams per tonne gold equivalent (12.55 grams per tonne gold, 9.13 % copper, and 0.14 % lead), with six samples ranging from 1.53 to 27.93 grams per tonne gold equivalent (1.23 gram per tonne gold, 0.18 % copper and 12.55 gram per tonne gold, 9.13 % copper, and 0.14 % lead, respectively).
The Max Min zone is currently limited in its northward extent by rapidly receding glacial ice and snowpack; however where there are islands of newly exposed outcrop, limited samples taken have returned very promising results. Approximately three-hundred metres northwest of Max Min, a 2 metre chip sample assaying 0.9 grams per tonne gold was taken from an outcrop in the middle of the glacier. On the unexplored northern flank of the glacier 0.3 and 0.5 metre chip samples assayed 6 and 1.2 grams per tonne gold, respectively. These extensions provide excellent potential to expand the Max Min zone and further confirm the discovery potential of the evolving Inca Trend.
The Inca Trend is hosted in volcanic, magmatic arc rocks of the Stikine Terrane, which is a favorable geological setting for porphyry systems in British Columbia. The thick sequence of volcanic rocks that underlies the Inca Trend is intruded by numerous felsic and intermediate porphyry dykes that strike broadly east-west. This east-west trend is further emphasized by an extensive fracture set that has provided structural controls on quartz-carbonate veining and mineralization. The gold-silver-polymetallic mineralization coupled with the extensive propylitic and potassic alteration along the Inca Trend are consistent with the presence of a porphyry system at depth.
Metalworks Zone
The assay results from Metalworks have more the doubled the size of zone with mineralized samples from 95 by 85 in 2016 metres to 300 by 130 metres (link to map) in 2017 due to newly exposed bedrock along the fringes of the rapidly receding glacial ice and snowpack. Metalworks remains open in all directions.
Table 2: Metalworks Assay Highlights
| Sample | Type | Zone | Length1 (metres) | Gold2 Eq (gpt) | Gold (gpt) | Silver (gpt) | Copper % | Zinc % | Lead % |
| W501090 | Chip | Metalworks | 5.00 | 16.8 | 2.64 | 277.0 | 0.04 | 3.88 | 11.95 |
| W501041 | Chip | Metalworks | 2.00 | 12.8 | 0.02 | 517.0 | 3.51 | 0.02 | 0.00 |
| W501083 | Chip | Metalworks | 2.00 | 8.53 | 0.12 | 30.40 | 0.05 | 7.48 | 3.27 |
| W501043 | Chip | Metalworks | 1.00 | 9.17 | 0.04 | 484.0 | 0.67 | 0.71 | 1.65 |
| W502559 | Chip | Metalworks | 1.00 | 4.21 | 0.04 | 248.0 | 0.52 | 0.00 | 0.00 |
| W502925 | Channel | Metalworks | 1.00 | 6.05 | 3.53 | 6.90 | 0.03 | 1.41 | 2.07 |
| W502514 | Chip | Metalworks | 0.50 | 2.48 | 1.51 | 9.90 | 0.09 | 0.10 | 0.99 |
| W502510 | Chip | Metalworks | 0.50 | 6.32 | 0.20 | 126.0 | 0.44 | 2.90 | 2.31 |
| W502778 | Channel | Metalworks | 0.30 | 16.6 | 4.43 | 68.8 | 0.90 | 6.95 | 7.00 |
| W502792 | Channel | Metalworks | 0.30 | 4.26 | 2.79 | 18.4 | 0.15 | 0.43 | 1.03 |
| W502776 | Channel | Metalworks | 0.30 | 8.25 | 2.43 | 25.3 | 0.41 | 3.19 | 3.72 |
| W502789 | Channel | Metalworks | 0.30 | 2.39 | 1.10 | 9.00 | 0.22 | 0.43 | 0.76 |
| 1True thickness of mineralized zone not known. 2AuEq based on Metal Prices on Nov 14, 2017: Au $1273.4 oz; Cu $3.1115 lb; Pb $ 1.1347 lb; Zn $1.4701 lb | |||||||||
Chip highlights (Table 2) include a 5 metre chip sample that contained 16.76 grams per tonne equivalent gold (2.64 grams per tonne gold, 277 grams per tonne silver, 3.88 % zinc, 11.95 % lead). The true width of this zone is not known. A total of 27 total chip samples (Table 2) were taken that ranged from below detection limit to 16.8 grams per tonne gold equivalent (2.64 grams per tonne gold, 277 grams per tonne silver, 0.04 % copper, 3.88 % zinc, and 11.95 % lead). Seven chip samples returned assays ranging from 2.48 to 16.8 grams per tonne gold equivalent (1.51 grams per tonne gold, 9.9 grams per tonne silver, 0.09 % copper, 0.1 % zinc, 0.99 % lead and 2.64 grams per tonne gold, 277 grams per tonne silver, 0.04 % copper, 3.88 % zinc, and 11.95 % lead, respectively).
Initial channel samples at Metalworks (Table 2) returned highlights of 1 metre of 6.05 grams per tonne gold equivalent (3.53 grams per tonne gold, 6.9 grams per tonne silver, 1.41 % zinc, 2.07 % lead).
Continued rapid snowpack and glacier recession should provide for excellent new opportunities for discovery in 2018. With the expansion of Metalworks in 2017 by ~200 metres, its boundary is now only ~750 metres south of Olympus, ~250 metres west of Metallica, and 400 metres to Max Min, separated by rapidly receding glacial ice and snowpack. These zones share a similar style of mineralization which is predominantly hosted structurally above extensive hydrothermal breccias. Other similarities include the same stratigraphic package of rocks, potassic and propylitic alteration, and late porphyry dykes all of which suggest shared porphyry feeder source of mineralization at depth. Ground IP, mapping, prospecting and drilling is recommended to outline the full geometry, along strike and to depth of the Metalworks Zone.
Metallica Zone
The Metallica zone is located approximately 250 south of Metalworks (link to map). Mineralization is hosted within a propylitically altered feldspar porphyry unit and is comprised of two distinct types of mineralization: (1) gently dipping, 20–30 cm wide quartz + Fe-carbonate ± covellite ± sphalerite veins, and (2) a silver-rich polymetallic massive sulfide lens. Initial channel cuts from a massive sulphide lens returned values of 22694 grams per tonne silver (729.6 oz per tonne), 26.4 % copper, 2.8 % zinc and a gold equivalent value of 348 grams per tonne over 0.2 metres.
A quartz vein channel cut returned values of 6.15 grams per tonne gold equivalent (3.74 grams per tonne gold, 83.4 grams per tonne silver, and 0.74% copper) over 0.4 metres. Chip and channel samples were collected in the gently-dipping (type 1) veins were cut in the dip-slope of the veins and thus do not represent true thickness.
Twenty six total chip samples (Table 3) were taken that returned assays ranging from below the detection limit up to 9.45 grams per tonne gold equivalent (1.25 gram per tonne gold, 490 grams per tonne silver, 0.9 % copper, 0.2 % zinc, and 0.02 % lead). Twenty grab samples were taken that ranged in values from below detection limit up to 94.1 grams per tonne gold equivalent (0.32 gram per tonne gold, 6390 gram per tonne silver, 5 % copper, 0.47 % zinc), with five samples ranging from 3.96 to 94.1 grams per tonne equivalent gold (0.09 grams per tonne gold, 200 grams per tonne silver, 0.72 % copper and 0.32 grams per tonne gold, grams per tonne silver, 5 % copper, 0.47 % zinc, respectively). This zone is also believed to be connected to a common feeder system at depth.
Table 3: Metallica Assay Highlights
| Sample | Type | Zone | Length1 (metres) | Gold Eq (gpt)2 | Gold (gpt) | Silver (gpt) | Copper % | Zinc % | Lead % |
| W502571 | Chip | Metallica | 1.50 | 4.11 | 0.86 | 10 | 0.36 | 0.38 | 3.62 |
| W503027 | Channel | Metallica | 1.30 | 3.91 | 1.18 | 104 | 0.75 | 0.12 | 0.00 |
| W503044 | Channel | Metallica | 1.00 | 1.69 | 1.66 | 0.70 | 0.00 | 0.02 | 0.00 |
| W503072 | Channel | Metallica | 0.80 | 24.0 | 0.37 | 1520 | 1.93 | 0.27 | 0.00 |
| W503070 | Channel | Metallica | 0.60 | 5.75 | 1.39 | 267 | 0.44 | 0.09 | 0.00 |
| W502569 | Chip | Metallica | 0.50 | 9.45 | 1.25 | 490 | 0.90 | 0.20 | 0.02 |
| W503054 | Channel | Metallica | 0.50 | 4.17 | 1.58 | 105 | 0.65 | 0.13 | 0.00 |
| W503041 | Channel | Metallica | 0.40 | 6.15 | 3.74 | 83.40 | 0.74 | 0.08 | 0.00 |
| W503059 | Channel | Metallica | 0.20 | 348 | 0.01 | 22694 | 26.40 | 2.80 | 0.00 |
| W501007 | Grab | Metallica | 94.1 | 0.32 | 6390 | 5.00 | 0.47 | 0.00 | |
| W501006 | Grab | Metallica | 35.0 | 0.20 | 1420 | 9.45 | 0.08 | 0.00 | |
| W501056 | Grab | Metallica | 12.7 | 0.07 | 271 | 5.40 | 0.00 | 0.00 | |
| W499517 | Grab | Metallica | 4.68 | 2.83 | 125 | 0.02 | 0.04 | 0.20 | |
| W494310 | Grab | Metallica | 3.96 | 0.09 | 200 | 0.72 | 0.00 | 0.00 | |
| 1chip and channel samples cut in-plane of a low angle vein and thus do not represent true thickness. 2AuEq based on Metal Prices on Nov 14, 2017: Au $1273.4 oz; Cu $3.1115 lb; Pb $ 1.1347 lb; Zn $1.4701 lb; Ag $16.935 oz | |||||||||
Olympus Zone
Mineralization at the Olympus zone is hosted in the same stratigraphic unit as Metalworks and shares a similar geochemical signature. Eight total chip samples (Table 4) were taken that range from below detection limit up to 11.2 grams per tonne gold equivalent (0.42 grams per tonne gold, 625 grams per tonne silver, 1.37 % copper, 0.22 % zinc, and 0.08 % lead), three samples ranged from 1.67 to 11.2 gram per tonne gold equivalent (0.84 grams per tonne gold, 45.1 grams per tonne silver, 0.12 % copper, 0.02 % zinc, 0.01 % lead and 0.42 grams per tonne gold, 625 grams per tonne silver 1.37 % copper, 0.22 % zinc, and 0.08 % lead, respectively).
Table 4: Olympus Assay Highlights
| Sample | Type | Zone | Length1 (metres) | Gold Eq (gpt)2 | Gold (gpt) | Silver (gpt) | Copper % | Zinc % | Lead % |
| W495213 | Chip | Olympus | 2 | 11.2 | 0.42 | 625 | 1.37 | 0.22 | 0.08 |
| W503312 | Chip | Olympus | 1 | 1.99 | 1.88 | 3.90 | 0.02 | 0.03 | 0.00 |
| W503305 | Chip | Olympus | 1 | 1.67 | 0.84 | 45.1 | 0.12 | 0.02 | 0.01 |
| W503307 | Grab | Olympus | 22.0 | 0.71 | 1185 | 3.22 | 0.06 | 0.11 | |
| W501031 | Grab | Olympus | 20.7 | 0.35 | 1050 | 3.74 | 0.10 | 0.03 | |
| W501104 | Grab | Olympus | 12.0 | 1.01 | 718 | 0.83 | 0.04 | 0.05 | |
| 1True thickness of mineralized zone not known. 2AuEq based on Metal Prices on Nov 14, 2017: Au $1273.4 oz; Cu $3.1115 lb; Pb $ 1.1347 lb; Zn $1.4701 lb | |||||||||
Empire Property
In addition to porphyry style gold-silver-polymetallic mineralization with potassic alteration, recent work and research in the area by the BC geological survey identified gold-silver-copper-lead-zinc mineralization in the region to be consistent with transitional vein systems like the Snip mine. As part of this same study the BC geological survey mapped a sequence of marine Hazelton volcanic rocks (Quock formation pillow lavas and marine fossils) on the northern portion of the Empire property and determined are contemporaneous with the development of the Eskay rift to the west. Therefore, the region also may have potential for epithermal mineralization and Eskay Creek style mineralization.
Statements
Mr. Dan Stuart, Director, President & CEO of Juggernaut states: “The Empire property has tremendous untapped potential, initial results indicate it has the key markers to host a world class mineral discovery. We look forward to reporting additional results from both Empire and Midas in the near future and to the 2018 drill campaign with much anticipation. The Empire project is a very rare opportunity with world class potential as demonstrated by both the support and interest from institutions and miners alike, confirming the significance of this and evolving new discoveries. We look forward to reporting the results in the immediate future from the newly discovered Rock Star zone on Inca Trend and the Material Metal and Babylon zones, also located on the Empire Property. The company also looks forward to reporting results from its Midas property and from the DSM project generator syndicate when they become available.”
Dr. Stefan Kruse, Chief Consulting Geologist stated: “Results to date have far exceeded our expectations and we look forward to unlocking the full potential of these exciting new discoveries contained within a world class geological setting I strongly recommended a comprehensive exploration and drill campaign for 2018.”
For further information, new maps and photos of the Empire property please go to www.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 QA/QC samples were inserted into channels sample laboratory batches. Additionally, a 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.
Gold equivalent assays are based on metal prices (USD) on Nov 14, 2017: Au $1273.4 oz; Cu $3.1115 lb; Pb $1.1347 lb; Zn $1.4701 lb; Ag $16.935 oz and are based on an assumption of 100% recovery.
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.
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