Juggernaut Mobilizes to 100 % Controlled Gold Rich Midas Property Located in NW BC

VANCOUVER, British Columbia, Aug. 04, 2020 (GLOBE NEWSWIRE) — Juggernaut Exploration Ltd. (TSX V:JUGR) (OTCQB:JUGRF) (FSE:4JE) (the “Company“ or “Juggernaut”) is pleased to report mobilization of the 2020 exploration program on Midas, where all 25 drill holes to date have intersected gold and polymetallic mineralization. The exploration team will focus on strong VHMS targets that remain to be tested within the 2.1 x 1.6 km King Solomon Trend. The Midas project is a rare opportunity with world-class potential as demonstrated by support by institutions and interest from miners alike.
The Midas property is host to the King Solomon Trend located within a district scale 18 x 10 km alteration zone that was mapped by the British Columbia Geological Survey as 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.Juggernaut’s Midas property drilling highlights are:Diamond drill hole MD-18-08 intersected 6.85 g/t Au over 9.0 m between 35.0 and 44.0 meters down hole.Drill hole MD-18-16 returned 0.21 g/t Au, 1.77 g/t Ag, and 0.32 %Zn from surface to 35.35 metres. The hole collared into a sulphide-rich hydrothermal breccia that is believed to be associated with a VHMS stringer zone.All 25-drill holes on Midas intersected gold and polymetallic mineralization, further confirming the strong potential for a significant feeder source.25% of the drill holes returned significant intercepts of gold and polymetallic mineralization.The British Columbia Geological Survey (BCGS; McKeown et al.,2007) mapped a conformable sequence of layered Paleozoic felsic to mafic subaqueous volcaniclastic rocks and documented an extensive alteration zone, with the King Solomon Trend at its core for at least 2.1 kilometers. Intense alteration system with zones of widespread gossan development, silicification, Fe-rich chloriticalteration, Na-Ca depletion, and quartz-sericite-pyrite development.The Midas property covers 16,653 hectares, 100% option by Juggernaut, has logging road access on property and is only 14 km to major power, CN rail, and roads with another 10 km to Terrace, BC. The project is 45 km from Kitimat deep-sea port.Dan Stuart, Director, President and CEO of Juggernaut states:“The compilation of the 2019 and 2018 results have vectored into strong targets that will be tested focused on delineating drill targets. Eskay Creek VHMS discovery had over ~100 drill holes before the discovery was made. We look forward to receiving the results from this summer’s program. Juggernaut has a 100% option providing the shareholders with the potential of significant up-side for very little additional financial expenditure. Midas is located in a world class geologic setting in close proximity to both roads and extensive infrastructure.”OtherAll samples were crushed and pulverized at ALS Global ISO 17025:2005 accredited geochemistry lab in North Vancouver, BC. Drill core samples were crushed, split and pulverized to 250 g pulp. The sample pulps were analyzed for gold by fire assay method (Au-AA24) and were also assayed using multi-element aqua regia digestion. Samples were analyzed using ALS assay procedure ME-ICP41m and MS-ICP61m. ME-ICP is an aqua regia (partial) digestion with inductively-coupled plasma (ICP) mass atomic emission spectroscopy (ICP-AES) finish for 36 elements. MS-ICP61m is a four acid digestion with ICP mass spectrometry finish for 49 elements. Over-limit samples for copper, lead and zinc were reanalyzed by fire assay with a gravimetric finish (OG46 and OG62). Rigorous procedures are in place regarding sample collection, chain of custody and data entry. QA/QC samples including blanks, standards, and duplicate samples were inserted regularly into the sample sequence.Qualified PersonRein Turna 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.For more information please contact:Juggernaut Exploration Ltd.Dan StuartPresident and Chief Executive Officer
Website: 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 STATEMENTCertain 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.

CBJ Newsmakers