Rackla Metals Recaps a Successful Phase 1 Exploration Program on the Astro Plutonic Complex & Looks Ahead To 2024
Rackla Metals Inc. (TSX-V:RAK) (the "Company") entered the 2023 season with a commitment to shareholders to get boots-on-the-ground in the Astro Plutonic Complex of Yukon and NWT in the search for Reduced Intrusion-Related Gold Systems (RIRGS). Research by the Company had shown that this intrusive complex, which is effectively road accessible, was under-explored and had not been tested for RIRGS potential. The limited amount of historical work focused primarily on the sedimentary rocks along the margins of the intrusions, while the intrusive bodies themselves were relatively untouched. The Rackla team determined there was tremendous potential for a significant RIRGS discovery within the Complex. The Company employed a large team of prospectors, soil samplers and geologists to get eyes on the rocks and collect samples to test the potential of this large, rugged terrain in search for gold-bearing sheeted vein systems with potential for an economic discovery. The surface sampling program returned numerous anomalies and was followed by 3,000 m of reconnaissance-style drill testing of selected targets.
The HIT claim block covers the Canol Trail Stock, which is the most northerly intrusive body in the Astro Plutonic Complex. The Canol Trail Stock is a Tungsten Suite monzogranite that measures 2.5 km in diameter. Soil and talus-fine sampling in 2023 identified a 2.4 square km Au-Bi-As anomaly on the northwestern part of the intrusion that is open in all directions. The Company drilled 1,000 m in 5 holes at HIT and intersected significant RIRGS-style gold-bearing intersects in two holes, HIT-003 & HIT-004. These holes were drilled from the same drill pad, in opposing directions, and cut gold-bearing sheeted veins over a width of 225m and to a depth of 150m. This mineralized system is open to the north, south, west and at depth. Interpretation of the Company's airborne geophysical data shows that the western margin of the intrusion dips shallowly under the sediments with a thin cover. Significant drilling will be needed to test this RIRGS target and expectations are high.
HIT property anomalies and 2023 drill hole locations.
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The SER claim block hosts the most southern of the three intrusive bodies known as the Kelvin Stock. The Kelvin Stock is 10 km south of the Canol Trail Stock, measures 2.2 km in diameter and is a Tombstone Suite granite intrusion. Soil sampling at SER has returned strong, coincident Au-As soil anomaly at the Grid Zone, a Au-Bi-As anomaly at the Peak Zone and Au-Bi talus-fine anomaly at the head of the SER glacier valley. The soil and talus-fine anomalies are greater than 2 square km and occur within the intrusion and sedimentary rocks in the contact aureole. Prospecting in these areas has returned significant gold mineralization from rock samples with 22% of the samples returning greater than 0.5 g/t gold and a peak a value of 27.5 g/t gold. The Company was not able to drill test the SER targets in 2023, however it will be a focus of drilling in 2024.
SER property soil, talus and rock sample anomalies
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Simon Ridgway, Rackla Metals CEO, commented: "The work completed on the Astro Plutonic Complex in 2023 was successful in identifying RIRGS in the most eastern reaches of the Tombstone Gold Belt, an area previously only known for base metal deposits. The initial drill program completed on the Canol Trail Stock has indicated real potential for a large economic gold system. A significant drilling program is justified in 2024. Multiple other areas within the large ground position we acquired in 2022 have also shown significant promise to host RIRGS style gold systems, and I am confident that as we develop these other target areas further discoveries will be made."
Over the next few months, the Rackla team will be focused on detailed evaluation of results collected from the 2023 field program that included airborne and ground geophysics, surface sampling, and drilling. The 2024 workplans will include:
HIT Property: A significant drill program is planned to vector towards the heart of the RIRGS target discovered in 2023.
Astro Property: Additional mapping and prospecting is planned to determine the source of gold mineralization.
SER Property: A maiden diamond drill program is planned to test the various gold-in-soil anomalies and anomalous rock samples.
Other properties: Work on 4 other Company-owned properties, including "boots-on-ground" prospecting, to bring them up to the drill ready stage.
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.
About Rackla
Rackla Metals Inc. (TSX-V: RAK) is a Vancouver, Canada based junior gold exploration company. The Company is targeting Reduced Intrusion-Related Gold Systems (RIRGS) mineralization on the southeastern part of the Tombstone Gold Belt in eastern Yukon and western Northwest Territories. Management believes that this area, which is underexplored for RIRGS deposit types, has the potential to be the next frontier for their discovery.
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
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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 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.