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First drill hole at Hit target expands RIRGS mineralization to the southwest; assays pending
Vancouver, British Columbia – July 17, 2024 – TheNewswire – Rackla Metals Inc. (TSX-V: RAK) (the “Company”) is pleased to announce that drilling has commenced at its Hit target, Astro Plutonic Complex, in eastern Yukon.
Rackla’s team has moved into their road accessible camp that will facilitate all work on the Astro Plutonic Complex. The 2024 drill program is now underway, and the first holes being drilled are designed to expand the RIRGS (Reduced Intrusion-Related Gold Systems) mineralization discovered at the Hit target last year.
The Hit target is defined by a prominent corridor of intense sheeted quartz-sulphide veins within the 2.5 sq km Canol Trail Stock.
Plan view map of the Mehitabel Showing, Hit target, with 2024 holes HIT-006 and HIT-007:
Click Image To View Full Size
The first hole of the 2024 campaign, HIT-006, was drilled below and to the southwest of 2023 drill holes HIT-003 and HIT-004. Hole HIT-007 was drilled from the north towards HIT-003 and 004 targeting the sheeted vein system and fault structures along the northern margin of the sediment-intrusive contact. The image below shows sheeted vein system in monzogranite from HIT-006. This drill hole expands the known RIRGS mineralization to the southwest and from surface to a vertical depth of 229m.
Core photo of multiphase quartz-carbonate-sulfide veining in hole HIT-006:
Click Image To View Full Size
Core photo of multiphase quartz-sericite-sulfide veining in hole HIT-007:
The Rackla field team is also working at the Peak target and has mobilized the drill to collar the first drill hole at the target this week. The Peak target is located on the eastern flank of the Kelvin Stock, 11 km south of the Hit target.
Both the Hit and Peak targets are located within the Astro Plutonic Complex (APC), eastern Tombstone Gold Belt, in proximity to the territorial border between eastern Yukon and western Northwest Territories, Canada. The APC is road accessible via the North Canol road.
Simon Ridgway, CEO commented: “Our team is excited to have initiated the next phase of drilling on the Hit target and look forward to maiden drilling at the Peak target in the coming days. We are encouraged with the sheeted vein density in HIT-006 and HIT-007, and look forward to the assay results.”
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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