Rackla Metals Commences 2024 Exploration Program on Yukon and NWT Projects
"Hit and Peak discoveries are the priority drill targets in 2024" Vancouver, June 3, 2024 - Rackla Metals Inc. (TSX-V: RAK) (the "Company") is pleased to announce that field crews will be mobilizing to the Company's Yukon and NWT projects, including the Company's flagship Astro Plutonic Complex (APC), on June 6. The APC is located at the Yukon-NWT border and the project is road accessible, 240 km north of Ross River along the North Canol road.
The crews are looking forward to an exciting and promising season of exploration and discovery on its Tombstone Gold Belt properties. The 2024 exploration plans include:
Hit Target
The Hit target is hosted within a prominent corridor of intense sheeted quartz-sulphide veins within the 2.5 sq km Canol Trail Stock. In 2023, drill hole HIT-003 intersected 0.248 g/t Au over 129.8 m including 0.668 g/t gold over 16.5 m and 0.607 g/t gold over 13.5 m. Hole HIT-004 drilled from the same drill pad in the opposite direction intersected 0.516 g/t gold over 45.5 m. Both holes encountered sheeted quartz-sulphide veins throughout the full length of the holes and the gold intercepts had a strong gold-bismuth-tellurium-arsenic correlation, typical of a Reduced Intrusion mineralizing system.
Rackla plans to expand on the geological mapping, prospecting and soil sampling program from 2023 to further define and expand on this target. The Company will also conduct 3,000 m diamond drilling to vector in on the core of the Reduced Intrusion-Related Gold System (RIRGS).
Figure 1 - Hit Target proposed 2024 drill plan.
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Peak Target
The Peak target is hosted in the Kelvin Stock 11 km south of the Hit target. At Peak, on the eastern flank of the intrusion a soil anomaly measuring 1.5 km by 1.0 km has been defined. It is a robust anomaly with coincident gold, arsenic and bismuth, typical of a RIRGS target. Prospecting and rock sampling at Peak returned a high percentage of samples containing greater than 1.0 g/t gold. Twenty percent, or 49 out of 237 rock samples collected on the property have returned >1.0 g/t gold with the highest value being 17.8 g/t gold. The gold occurs primarily in sheeted quartz-arsenopyrite-bismuth veins that occur in the sedimentary rocks along the eastern margin of the Kelvin Stock. The veins trend north-northeasterly and individual veins can be traced for hundreds of meters. The vein system has been traced for 1 km along strike and 1.5 km across strike.
In 2024, Rackla will undertake a maiden drill program at Peak with a first phase consisting of 1,000 m in 6 to 7 holes. The geophysical signature at Peak indicates that the intrusive contact dips shallowly eastward, under the sediments. Rackla will be testing this with the drill holes and is hopeful that the underlying intrusion hosts gold-bearing sheet quartz veins that are feeding the veins observed in the sediments on surface. The Company will also be expanding on the mapping, prospecting and soil sampling coverage in 2024.
Figure 2 - Peak and Cirque targets surface sampling gold results.
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Figure 3 - 3-D model of Kelvin Stock, which includes the Peak and Cirque targets.
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Simon Ridgway, CEO commented: "Our team is excited to be getting back into the field following the RIRGS discoveries at HiT and Peak in 2023. The priority for the 2024 exploration program is a significant drill program on HIT, to vector towards the heart of the RIRGS target, and a maiden drill program on Peak to test the high-grade gold bearing sheeted veins identified last season. The Company will also be advancing several of its other 100% owned earlier stage projects in the belt."
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 RIRGS (Reduced Intrusion-Related Gold System) 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
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.sedarplus.ca. 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.
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