VANCOUVER, British Columbia, Dec. 06, 2021 (GLOBE NEWSWIRE) -- Juggernaut Exploration Ltd (JUGR.V) (The “Company” or “Juggernaut”) is pleased to announce the results from its 2021 inaugural diamond drill program on its 100% controlled Gold Star property situated along the Central Coast of British Columbia. A total of 5 shallow exploratory holes were drilled, all of which intersected significant widths of high grade gold /polymetallic mineralization in quartz-chlorite-sulphide veins on the newly discovered Goldilocks Zone. Drill hole GS-21-05 intersected 10.795 gpt Au (14.31 AuEq) over 5.5 m including 29.2 gpt Au (38.37 AuEq ) over 2.0 m. The Goldilocks Zone has been traced on surface for 290 meters with 160 meters vertical relief before being covered by overburden and remains open both along strike and to depth.

Drill Highlights:

• The high grade core of the Goldilocks zone has an average grade of 9.427 gpt AuEq over an average width of 4.1 m within a broader envelope of gold/polymetallic mineralized quartz chlorite sulphide veins as demonstrated by all 5 maiden drill holes.

• Drill hole GS-21-05 intersected 10.795 gpt Au (14.31 gpt AuEq) over 5.5 m including 23.412 gpt Au (30.773 gpt AuEq) over 2.5 m and 57.563 gpt Au (75.606 gpt AuEq) over 1.0 m (link to GS-21-05)

• Drill hole GS-21-04 intersected 7.497 gpt Au (10.905 gpt AuEq) over 5.5 m including 13.493 gpt Au (19.598 gpt AuEq) over 3.0 m and 38.239 gpt Au (55.918 gpt AuEq) over 1.0 m (link to GS-21-04)

• Drill hole GS-21-02 intersected 6.345 gpt Au (9.294 gpt AuEq) over 3.5 m including 7.377 gpt Au (10.735 gpt AuEq) over 3.0 m and 10.893 gpt Au (15.814 AuEq) over 2.0 m (link to GS-21-02)

• Drill hole GS-21-03 intersected 3.708 gpt Au (6.145 gpt AuEq) over 3.0 m including 4.959 gpt Au (6.937 gpt AuEq) over 2 meters and 6.343 gpt Au (8.882 gpt AuEq) over 1.5 m (link to GS-21-03)

• Drill hole GS-21-01 intersected 5.223 gpt Au (6.482 gpt AuEq) over 3.0 m including 7.771 gpt Au (9.575 gpt AuEq) over 2.0 m and 15.140 gpt Au (18.574 gpt AuEq) over 1 m (link to GS-21-01)

Table 1: 2021 Gold Star drill hole assay results. Widths are reported in drill core lengths and the true widths are not known. See Table 2 for hole locations, azimuth and dip.

* AuEq metal values are calculated using: Au 1792.60 USD/oz, Ag 23.13 USD/oz, Cu 4.37 USD/lbs, Pb 1.05 USD/lbs and Zn 1.52 USD/lbs on November 28, 2021.

Table 2: 2021 Gold Star drill collar locations

The 2021 maiden exploration drilling consisted of 5 shallow drill holes totalling 285 m, which were designed to test the main Goldilocks outcrop and all holes intersected high gold polymetallic mineralization confirming the presence of a new orogenic gold system which remains open both along strike and down dip. The property is located in a key geologic setting along a regional scale under-explored high strain zone and contains a series of newly discovered gold mineralized quartz-chlorite-sulphide veins up to 10 m wide. (VIDEO LINK HERE)

Gold Star property highlights

• The Goldilocks Zone is characterized by multiple quartz-sulphide-pyrite outcrops that daylight in glacial talus containing high-grade gold and polymetallic mineralization. The zone is defined on surface by veining and altered host rock exposed over a strike of 290 m and 160 m vertical relief that remains open. (Link to Field Sample Locations)

• A 2019 channel cut within the Goldilocks zone consisted of a 3.75 m cut to partially test a 10.5 m wide section of exposed outcrop. Assays returned 7.86 gpt AuEq over 3.75 m true width. This channel started in 9.01 gpt AuEq and ended in 10.79 gpt AuEq leaving the zone open. This zone also contains gold mineralization confirmed in the host rock (pyritic chlorite-schist) that assayed 1.13 gpt AuEq over a 1 m interval within the 3.75 m channel. (Link to NR Feb 18, 2020)

• A 2021 channel sample taken from the quartz-chlorite-sulphide vein at the western end of the Goldilocks showing, 175 m to the west on strike of the main Goldilocks outcrop, assayed 0.953 gpt AuEq over 3.5 m including 2.153 gpt AuEq over 1 m. (Link to Goldilocks Zone Overview) and (Link to Goldilocks Vein Image)

• A 2021 channel sample take from the Yellow Brick Road showing 500 m south of the Goldilocks zone assayed 4.587 gpt AuEq over 3.1 m including 5.850 gpt AuEq over 1 m in an outcrop of quartz-chlorite-sulphide vein within an envelope of chlorite-schist. (Link to Yellow Brick Road Zone Overview) and (Link to Yellow Brick Road Vein Image).

• The Yellow Brick Road Zone has been traced for 170 meters and remains open and contains pyrite-chalcopyrite-galena bearing, vuggy quartz veins that are up to 1 meter wide with chip samples up to 24.55 gpt AuEq over 1 meter and with grab samples assaying up to 99.0 gpt AuEq. The veins are encompassed by a pyritic and quartz-sericite-pyrite alteration envelope that is up to 30 cm wide.
  

Table 3: 2021 Gold Star channel samples

* AuEq metal values are calculated using: Au 1792.60 USD/oz, Ag 23.13 USD/oz, Cu 4.37 USD/lbs, Pb 1.05 USD/lbs and Zn 1.52 USD/lbs on November 28, 2021.

Table 4: 2021 Gold Star grab samples

* AuEq metal values are calculated using: Au 1792.60 USD/oz, Ag 23.13 USD/oz, Cu 4.37 USD/lbs, Pb 1.05 USD/lbs and Zn 1.52 USD/lbs on November 28, 2021.

The high grade gold mineralization confirmed in all the maiden drill holes and surface samples on Gold Star confirms the presence of a significant gold system. The inaugural exploratory drill program has tested only a small fraction of this gold system that remains open in all directions. With strong gold mineralization confirmed in all the drill holes strongly suggests the presence of a significant gold system that remains under-explored. The technical team recommends a phase two follow up drill program focused on expanding the gold mineralization both along strike and down dip to outline the full gold potential of this important new discovery.

Extensive regions of snow-pack abatement and glacial recession along the regional under-explored high stain zone provide for extensive areas recently exposed with excellent discovery potential. (Link to Regional High-Strain Zone Map).

The Gold Star Property is an original discovery with no previous recorded work in the area and is situated 4.5 km east of tidewater along the Central Coast of British Columbia approximately 5.5 km from logging access roads, which provides for good access to infrastructure.

Dan Stuart, President and CEO of Juggernaut Exploration, states: Juggernaut and the technical team are extremely excited by the results from the Goldilocks Zone. The 2021 maiden drill program has confirmed the discovery of a significant new high grade gold system that remains open in all directions. With continued exploration success, Goldilocks has strong potential to quickly evolve into the next big gold discovery providing benefits to the shareholders, local stakeholders and First Nation. The geologic setting of this under-explored regional scale high strain zone has tremendous untapped potential to host multiple new discoveries that could evolve into an important new gold camp providing value for years to come. We look forward to the fully funded 2022 recommended drill program and expanding the geometry of this exciting new gold discovery. The company is in the process of compiling and interpreting the Gold Standard results and looks forward to releasing them in the near future. Juggernaut is in a very unique position sitting with a tight share structure of just over 40MM shares issued and outstanding coupled with over $4,400,000 currently in the treasury not including additional exploration rebates puts Juggernaut firmly in a fully funded position for the much anticipated 2022 drill programs and beyond.

Qualified Person

Rein Turna P. Geo 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

Oriented HQ-diameter diamond drill core from the drill campaign is placed in core boxes by the drill crew contracted by the Company. Core boxes are transported by helicopter to the staging area, and then transported by truck to the core shack. The core is then re-orientated, meterage blocks are checked, meter marks are labelled, Recovery and RQD measurements taken, and primary bedding and secondary structural features including veins, dykes, cleavage, and shears are noted and measured. The core is then described and transcribed in MX Deposit^TM. Drill holes were planned using Leapfrog Geo^TM and QGIS^TM software and data from the 2017-2019 exploration campaigns. Drill core containing quartz, sulphide(s), or notable alteration are sampled in lengths of 0.5 to 1.0 meters. Core samples are cut lengthwise in half, one-half remains in the box and the other half is inserted in a clean plastic bag with a sample tag. Standards, blanks and duplicates were added in the sample stream at a rate of 20%. All samples, including core, rock grabs, channels and talus samples, are transported in rice bags sealed with numbered security tags. A transport company takes them from the core shack to the ALS labs facilities in North Vancouver or MSA labs facilities in Langley. ALS (and MSA) is either Certified to ISO 9001:2008 or Accredited to ISO 17025:2005 in all of its locations. At ALS (and MSA), samples are processed, dried, crushed, and pulverized before analysis using the ME-ICP61 and Au-ICP21 (ICP-130, ICA-5Ag, and FAS-124) methods. Overlimits are re-analyzed using the ME-ICP61, Au-ICP21, and Ag-GRA21 (FAS-428, ICA-6Ag, and FAS-425) methods. If Gold is higher than 5 gpt, the labs will re-analyze using Metallic Screening Au-SCR24C (MSC-150) method. 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.

For more information, please contact:

Juggernaut Exploration Ltd.
Dan Stuart
President and Chief Executive Officer
Tel: (604)-559-8028
www.juggernautexploration.com

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