Rackla Metals completes summer exploration program at its Rivier gold project, Yukon
Vancouver, October 19, 2020 - Rackla Metals Inc. (TSXV:RAK) reports that it has completed the summer field program at its Rivier Project in the Yukon. As the COVID-19 restrictions eased in the Yukon, Rackla mobilized a team to Rivier to conduct this year's exploration program. The Rackla team completed prospecting, rock chip sampling and geological mapping on the property, focusing on the areas of high gold in soil anomalies identified by previous work on the prospect. The +400 line km airborne magnetic survey conducted over the property by Precision GeoSurveys Inc. was complemented by a ground magnetic susceptibility survey that will enable accurate modelling of the targets. Results from the geochemistry, geology and geophysics programs will be released in the coming weeks and updated drill targets will be developed for the next field season.
The consolidated Rivier Project (116 claims) covers lode gold mineralization of the Motherlode type. Previous soil and silt sampling programs have defined a plus two-kilometre-long, strong broad gold and pathfinder anomaly along a faulted contact of an ultramafic body. The anomalous gold in soils appear to be associated with mapped Listwanite alteration of the ultramafic body. With several soil samples running over 2 grams per tonne gold, this broad zone contains potential for significant gold mineralization.
Technical Information
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, and has prepared and approved the technical information contained in this news release.
About Rackla
Management of Rackla Metals is encouraged by the renewed strength in the precious metals market and is actively seeking new projects for acquisition as the Company continues to advance its Rivier Project in the Yukon.
ON BEHALF OF THE BOARD
Bruce Smith,
President and Director
Tel: (604) 801-5432; Fax: (604) 662-8829
Email: info@goldgroup.com
Website: www.racklametals.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
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 future exploration work at the Rivier Project. 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, whether further exploration work at the Rivier Project will proceed; 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: expectations that further exploration work at the Rivier Project will proceed; that the Company's stated goals and planned exploration and development activities 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.
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