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Juggernaut Exploration analyst call – outstanding exploration results likely to be built on in 2020

Proactive's mining analyst, Dr Ryan D. Long, provides a summary of his introductory call with Juggernaut Exploration’s top brass.

Juggernaut Exploration LTD - Juggernaut Exploration Analyst Call – outstanding exploration results likely to be built on in 2020

Juggernaut Exploration (CVE:JUGR) is an exploration company focused on making precious and base metal discoveries in British Columbia, Canada.

Dan Stuart is the president and chief executive officer of the company, and Nicolai Goeppel is the company’s exploration geologist. Both were kind enough to give me an introduction to the company, a Canadian listed minnow that has produced some very exciting exploration results that the market has yet to wake up to.

Dan Stuart is also the senior vice-president of Western Canada of Aberdeen Gould Capital Markets Ltd, located in Toronto. He has more than 20 years’ experience in finance focused on natural resources, closing over C$100mln in funding for both public and private companies.

Nicolai Goeppel is also a co-owner of Higher Ground Exploration Services. Trained as a geologist at the Memorial University of Newfoundland, he has more than 15 years of exploration experience in the country.

Juggernaut has four projects (Figure1), two of which (the Jake and Mack Projects,) are part of an exploration alliance with Hunter Dickinson Inc, and two (the Goldstandard and Midas Projects) over which Juggernaut has options on 100% ownership.

Figure 1: Location on Juggernaut’s Projects

Source Juggernaut Exploration

At both the Jake and Mack Projects, the partners are exploring for copper-gold porphyries and plan to drill test each project in 2020.

At Midas, Juggernaut is targeting polymetallic volcanic-hosted massive sulphide (VHMS) mineralisation, with historic drilling by the company returning results including 6.85 grams per tonne (g/t) Au (gold) over nine metres (MD-18-08); 0.21 g/t Au, 0.18 g/t Ag (silver), 0.32% Zn (zinc), 0.08% Cu (copper) and 0.02% Pb (lead) over 35.35 metres (m). While these results are not enough to define a discovery, they clearly indicate that the company is exploring an area with significant potential for further mineralisation. At Midas an electromagnetic survey is being planned for the second half of the current year, with a drilling programme likely to follow in 2021.

Juggernaut’s principal focus for 2020 is expected to be the Goldstandard Project, where the company appears to have discovered a large orogenic gold system.

To date Juggernaut has completed an initial mapping and sampling programme over the area, which has defined a series 22 veins. Of these veins, six have been sampled and all six contain significant levels of gold. The six veins are located within five kilometres (Figure 2) of each other and vary in strike length from 200m to 1,000m, and significant widths that vary from 3m to 20m wide (Figure 3).

Figure 2: The location of veins at the Goldstandard Project

Source Juggernaut Exploration

Figure 3: Table of some initial results from Goldstandard Project

Source Juggernaut Exploration

At the Goldzilla target, part of the strike appears to be a 100m long hinge zone, sampling of which has returned some very high-grade gold assays including grab samples of up to 110 g/t Au, and 0.5m chip samples up to 39g/t Au. (Figure 4).

Figure 4: Sample results from the Goldzilla Hinge Zone

Source Juggernaut Exploration

Similar high-grade gold results have been returned from sampling along the Leviathan and Kraken Veins (Figures 5 & 6).

Figure 5: Sampling results from the Leviathan Vein

Source Juggernaut Exploration

Figure 6: Sampling results from the Kraken Vein

Source Juggernaut Exploration

What makes the gold standard project all the more staggering is its proximity to infrastructure - it's 5km from the town of Bella Coola - which begs the question, why haven’t these veins, which can be clearly seen from the air, been previously explored? Well, the answer is surprising. Until recently this area was covered with ice and only recent glacial and snowpack abatement has revealed this previously unexplored area.

Juggernaut is planning to follow up its exciting initial results with a maiden drilling programme at the Goldstandard Project in the second half of this year. All eyes will be on the drilling programme at Goldstandard, including ours.

You can watch Dan Stuart’s interview with Proactive’s Andrew Scott at Mines & Money London 2019 in the video below.

Quick facts: Juggernaut Exploration LTD

Price: 0.155 CAD

Market: TSX-V
Market Cap: $2.5 m

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