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Juggernaut Drills 14.31 gpt Au/Eq Over 5.5 Meters on Goldilocks Discovery

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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.

GS-21-05

From (m)

To (m)

Interval (m)

Au (gpt)

Ag (gpt)

Cu (gpt)

Pb (gpt)

Zn (gpt)

AuEq (gpt)

Interval

6.00

11.50

5.50

10.795

260.782

857.273

46.545

76.909

14.310

Including

6.50

11.50

5.00

11.870

286.640

689.000

50.000

75.000

15.690

Including

9.00

11.50

2.50

23.412

564.400

425.800

90.000

60.000

30.773

Including

9.50

11.00

1.50

38.780

935.033

616.667

143.667

36.000

50.956

Including

9.50

10.50

1.00

57.563

1386.750

839.500

205.000

34.000

75.606

Including

9.50

10.00

0.50

113.500

2730.000

1460.000

392.000

66.000

148.989

Interval

1.00

2.50

1.50

4.861

86.933

183.333

101.333

39.667

6.020

Including

1.50

2.00

0.50

10.900

170.000

150.000

224.000

77.000

13.132

GS-21-04

From (m)

To (m)

Interval (m)

Au (gpt)

Ag (gpt)

Cu (gpt)

Pb (gpt)

Zn (gpt)

AuEq (gpt)

Interval

10.00

15.50

5.50

7.497

260.855

227.000

59.636

46.636

10.905

Including

12.00

15.00

3.00

13.493

468.417

326.000

103.167

39.833

19.598

Including

13.00

15.00

2.00

20.089

697.600

436.250

145.000

47.500

29.171

Including

13.00

14.00

1.00

38.239

1364.700

361.500

168.000

47.500

55.918

Including

13.50

14.00

0.50

75.500

2700.000

707.000

329.000

94.000

110.475

Interval

3.50

8.50

5.00

1.308

33.570

167.200

22.900

81.000

1.775

Including

6.00

8.50

2.50

1.596

44.820

249.200

18.000

85.600

2.222

Including

7.00

8.00

1.00

3.240

93.950

378.000

24.000

61.000

4.520

GS-21-02

From (m)

To (m)

Interval (m)

Au (gpt)

Ag (gpt)

Cu (gpt)

Pb (gpt)

Zn (gpt)

AuEq (gpt)

Interval

6.50

10.00

3.50

6.345

202.557

1987.000

41.286

43.714

9.294

Including

6.50

9.50

3.00

7.377

235.517

1884.833

44.833

39.833

10.735

Including

7.00

9.50

2.50

8.802

281.260

2130.600

51.000

32.800

12.791

Including

7.50

9.50

2.00

10.893

347.500

2598.000

60.250

25.250

15.814

Including

8.00

9.50

1.50

12.683

403.000

1984.000

73.333

27.667

18.219

Interval

2.00

3.50

1.50

4.285

68.300

32.333

213.000

35.667

5.183

Including

2.50

3.00

0.50

12.500

198.000

22.000

621.000

13.000

15.084

Interval

23.50

26.00

2.50

0.606

20.520

56.400

25.800

70.200

0.885

Including

24.00

25.50

1.50

0.815

28.800

60.667

30.667

61.667

1.201

GS-21-03

From (m)

To (m)

Interval (m)

Au (gpt)

Ag (gpt)

Cu (gpt)

Pb (gpt)

Zn (gpt)

AuEq (gpt)

Interval

11.50

16.00

4.50

2.366

73.011

164.778

61.000

55.778

3.341

Including

12.50

15.50

3.00

3.708

139.629

1271.143

3203.000

5110.143

6.145

Including

12.50

15.00

2.50

4.063

123.340

120.800

102.000

34.400

5.681

Including

13.00

15.00

2.00

4.959

151.075

131.500

125.000

34.750

6.937

Including

13.00

14.50

1.50

6.343

195.333

84.000

93.333

16.667

8.882

Including

13.00

13.50

0.50

9.180

291.000

197.000

62.000

26.000

12.972

Interval

3.50

7.50

4.00

0.458

9.288

57.125

12.625

29.750

0.589

Including

5.50

7.50

2.00

0.590

11.450

90.500

16.000

45.250

0.756

GS-21-01

From (m)

To (m)

Interval (m)

Au (gpt)

Ag (gpt)

Cu (gpt)

Pb (gpt)

Zn (gpt)

AuEq (gpt)

Interval

1.50

4.50

3.00

5.223

94.167

226.833

89.500

44.000

6.482

Including

1.50

4.00

2.50

6.243

111.400

222.800

98.400

43.800

7.724

Including

1.50

3.50

2.00

7.771

137.175

167.250

114.000

41.500

9.575

Including

1.50

3.00

1.50

10.240

180.133

70.667

122.333

39.667

12.584

Including

2.00

3.00

1.00

15.140

265.150

33.500

168.500

4.500

18.574

Including

2.00

2.50

0.50

26.000

453.000

30.000

78.000

1.000

31.853

Interval

6.00

8.00

2.00

0.658

17.175

418.750

10.750

52.750

0.953

* 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

Hole ID

Collar Easting

Collar Northing

Datum/Zone

Azimuth

Dip

Length (m)

GS-21-01

656273.9

5782404.7

UTM NAD83 9N

208

43

63

GS-21-02

656273.1

5782404.6

UTM NAD83 9N

246

45

54

GS-21-03

656272.1

5782405.0

UTM NAD83 9N

173

45

57

GS-21-04

656271.4

5782404.2

UTM NAD83 9N

160

45

51

GS-21-05

656273.5

5782403.9

UTM NAD83 9N

224

45

60

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

Channel ID

Sample ID

Interval (m)

Au (gpt)

Ag (gpt)

Cu (%)

Pb (%)

Zn (%)

AuEq (gpt)*

Goldilocks Showing Channel

GL-21-01

Y608229

1.000

1.690

35.400

0.004

0.000

0.000

2.153

GL-21-01

Y608231

0.900

0.178

5.500

0.003

0.001

0.004

0.256

GL-21-01

Y608232

0.600

0.157

5.900

0.009

0.000

0.007

0.240

GL-21-01

Y608233

0.500

0.791

19.200

0.001

0.000

0.001

1.045

GL-21-01

Y608234

0.500

0.431

10.600

0.001

0.002

0.005

0.574

Weighted average

3.500

0.730

16.797

0.004

0.001

0.003

0.953

Yellow Brick Road Showing Channel

YBR-21-01

Y608763

0.500

0.089

3.800

0.010

0.008

0.006

0.145

YBR-21-01

Y608764

0.500

4.210

91.200

0.092

0.061

0.001

5.393

YBR-21-01

Y608765

0.800

1.455

23.600

0.077

0.369

0.004

1.766

YBR-21-01

Y608766

0.800

1.510

33.900

0.113

0.555

0.005

1.954

YBR-21-01

Y608767

0.500

4.130

73.500

0.074

0.055

0.001

5.085

YBR-21-01

Y608768

0.500

5.710

69.600

0.128

0.142

0.004

6.615

YBR-21-01

Y608769

0.400

0.015

5.300

0.303

0.446

0.056

0.090

Weighted Average

3.100

3.710

67.339

0.111

0.290

0.003

4.587

Including

1.000

4.920

71.550

0.101

0.099

0.002

5.850

* 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

Sample ID

Au (gpt)

Ag (gpt)

Cu (%)

Pb (%)

Zn (%)

AuEq (gpt)*

Y608761

98.400

45.800

2.530

0.001

0.007

99.000

Y608762

13.100

11.700

0.506

0.000

0.002

13.260

Y608629

4.230

121.000

0.013

0.001

0.000

5.800

Y608631

3.320

2.600

0.002

0.002

0.006

3.362

Y608583

0.971

25.200

0.006

0.003

0.003

1.305

Y608582

0.940

24.000

0.013

0.046

0.006

1.259

Y608632

0.161

3.100

0.004

0.001

0.003

0.210

* 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 DepositTM. Drill holes were planned using Leapfrog GeoTM and QGISTM 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

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.

FORWARD LOOKING STATEMENT

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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