Rackla Metals Inc. Provides Exploration Update on Yukon and NWT Properties
Vancouver, April 11, 2023 - Rackla Metals Inc. (TSXV:RAK) (the "Company") is pleased to announce that plans for the 2023 exploration program at the Astro, HIT, SER, Jos and Rak Main properties are well underway. The Company has a permit for the drill program at Astro and has recently received approval of the Class 1 Notification for work on the HIT and SER properties in Yukon. The planned work program on the Jos and Rak Main properties is below the threshold required for a permit.
Also, the Company has agreements in place for a camp management contractor (Archer Cathro and Associates Ltd.), an airborne geophysical contractor (Precision GeoSurveys Inc.) and a diamond drill contractor (Superior Diamond Drilling Inc.) for the 2023 exploration program.
Rackla Metals properties are within the Tombstone Gold Belt that extends through Alaska, Yukon and Northwest Territories. The Company's properties are located 70 km east of Snowline Gold's (CSE:SGD) Valley discovery; in proximity to the Yukon/NWT border. The geological target at Valley and on Rackla's properties is a Reduced Intrusion-Related Gold System (RIRGS). Rackla is planning a comprehesive program including an airborne magnetic survey, photogrametric surveying, soil and stream sediment sampling, geological mapping, prospecting and a minimum of 3,000m of diamond drillng. The Company anticipates that the exploration program will commence on or around June 1.
Simon Ridgway, CEO, commented that "We are pleased with the pace of our progress in permitting and hiring contractors in preparation for our exploration program planned for this June that includes a minimum of 3,000m of diamond drilling. Recent, continued investment by other companies in the eastern Tombstone Gold Belt in gold exploration, development and acquisition combined with what looks to be a strengthening gold market is also encouraging."
Qualified Person
Scott Casselman, B.Sc., P.Geo., Vice-President Exploration of the Company, is a member of the Association of Professional Engineers and Geoscientists of British Columbia and is the Company's Qualified Person as defined by National Instrument 43-101. Mr. Casselman has reviewed and approved the technical information contained in this news release.
ON BEHALF OF THE BOARD
Simon Ridgway,
CEO and Director
Tel: (604) 801-5432; Fax: (604) 662-8829
Email: info@goldgroup.com
Website: www.racklametals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.
Forward-Looking Information
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 Company's proposed exploration activities. 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, 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: that the Company's stated goals and planned exploration activities at its properties 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.