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Vancouver, British Columbia – October 3, 2024 – TheNewswire - Rackla Metals Inc. (TSX-V: RAK) (the “Company ”) is pleased to provide the season-end results of the exploration program on the Grad Property in the Northwest Territories (NWT). The Grad Property was staked in July of this year following an initial prospecting program that identified prospective geology, alteration and mineralization. The 2024 program consisted of prospecting, rock, stream sediment and talus-fine sampling, an airborne geophysical survey and photogrammetry survey. The Property is shaping up to be an outstanding Reduced Intrusion-related Gold System (RIRGS) target that will require a significant focus during the 2025 exploration season.
The Grad Property is centered on the North Nahanni Pluton, a Cretaceous-aged, Mayo Suite felsic intrusion in the eastern Tombstone Gold Belt in the NWT. The pluton measures 1.8 by 1 km with a sizable, intensely altered, contact aureole expressed as hornfelsed and iron stained gossanous Earn Group sediments.
The key discovery in 2024 on the Grad Property was the BiTe zone. It is located at the southern exposure of the North Nahanni Pluton where a cliff face exibits intense silica-sericite alteration of the outcropping intrusive. Geological crews have observed a widespread array of sheeted auriferous quartz veins in the brittle carapace of the intrusion, particularly at the BiTe zone. This alteration hosts disseminated base metal sulfides and gold. Grab samples of the intrusive have graded over 2% bismuth with high tellurium and up to 92 g/t gold.
A talus line at the base of the cliff has returned multi-gram gold samples over 200 meters, with values as high as 7.5 g/t Au, within a broader interval of coincident gold-bismuth up to 550 meters wide, with bismuth values up to 2930 ppm.
Figure 1 – Talus line defining the BiTe zone across 550m, and initial discovery rock samples (squares).
Click Image To View Full Size
The cliff is a steep face that rises some 400 m from the valley floor. Samples of the intrusive outcropping just above the scree slope have returned 1.8 g/t Au over a 38-meter channel sample. Results of grab samples of quartz/tourmaline veins cutting the intrusive have returned up to 15 g/t Au with over 9,000 ppm bismuth and 331 ppm tellurium. The geochemical signature of the BiTe showing is indicative of a robust RIRGS system. The results show a strong correlation of gold to tellurium and bismuth with correlation coefficients of 0.878 and 0.578, respectively. The Au-Bi-Te metal assemblage is an important characteristic of RIRGS deposits (1 Hart, 2007). The table below shows the top 18 gold values with associated bismuth and tellurium values.
Table 1 – Samples containing >1.0 g/t gold
Further prospecting and channel sampling conducted on the BiTe zone extended the silica-sericite alteration zone down to the base of the talus slope where two grab samples returned 11.4 and 1.83 g/t Au (Figure 2). Outside of the alteration zone, quartz-tourmaline sheeted and stockwork veining were tested for the first time and returned up to 6.8 g/t Au.
Figure 2 – BiTe zone chip-channel and rock sample gold values.
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Chip channel samples of 1-2 meters highlighted the continuity of the gold mineralization within the alteration zone, with results up to 1.1 g/t Au over 2.5 meters and 1.0 g/t Au over 1.5 meters.
Figure 3 – Chip-channel sample within the alteration zone that returned 1.05 g/t Au and 219 ppm Bi over 2.5 meters.
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Only a small portion of the property has been prospected, yet these
results confirm the potential for economic mineralization at the BiTe
zone.
A priority for the 2025 exploration program will be to delineate the extent of the BiTe zone with detailed structural mapping and additional channel sampling over the extent of the 550m long gold-bismuth anomaly. The results of this program will be used to define drill targets.
CEO Simon Ridgway stated, “An increasingly compelling RIRGS target is emerging at the BiTe zone. We are impressed with the strong geochemical correlation of gold with bismuth and tellurium in rock, chip-channel and talus-fine samples. These results would be considered impressive in any part of the Tombstone Gold Belt. Based on the results of our early exploration, we have greatly increased the size of our property around the BiTe zone and it will be our priority when the team returns to the field for more advanced exploration in 2025.”
1 Hart, C.J.R., 2007, Reduced intrusion-related gold systems, in Goodfellow, W.D., ed., Mineral deposits of Canada: A Synthesis of Major Deposit Types, District Metallogeny, the Evolution of Geological Provinces, and Exploration Methods: Geological Association of Canada, Mineral Deposits Division, Special Publication No. 5, p. 95-112.
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 the discovery of these large gold systems.
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 news 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, the Company’s future exploration activities; and general business and economic conditions. 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, its properties or its securities; 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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