Rackla Metals is pleased to update on developments at Grad Property, NWT
thenewswire.com
Vancouver, British Columbia – July 8, 2025 – TheNewswire - Rackla Metals Inc. (TSX-V: RAK) (the “Company ”) is pleased to announce that its 2025 exploration program at the BiTe zone is underway.
- Geological mapping and sampling has commenced
- Drill pad construction is underway
- The drill will be mobilized to first drill pad on July 8th
- A field camp has been established 1 km west of the BiTe zone
Following along the base of the cliff from the 2024 BiTe discovery outcrop, the geological team has extended mapping and sampling along the western extension of the 550m talus anomaly. Mapping to date has extended the occurrence of sheeted veins for an additional 300m to the west of the original discovery. Multiple vein sets have been identified cutting the intrusion throughout this area. Sheeted vein sets are of quartz and quartz-tourmaline with bismuth sulphide minerals observed in both. (Figures 1 and 2). Channel sampling is underway across the full extent of this area to test the extensions to the BiTe zone.
Figure 1 – Director of Rackla observing sheeted veins at the base of the cliff west of the BiTe zone.
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Figure 2 – Gossanous outcrop at BiTe with cross-cutting vein sets which contain bismuth sulphides.
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Sampling has commenced on the ridge top 450m to the north and 350m vertically above the BiTe zone. A large gossan and mineralized veins on the ridge are evidence of a large hydrothermal system. The quartz & quartz-tourmaline veins have been observed along the entire 160m length of ridge line that has been walked to date and these can be seen extending downwards on both the north and south cliff faces (Figure 3). Geologists working with ropes will start mapping and continuous chip sampling these slopes next week.
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Figure 3 – Strong oxidation of the altered intrusive on the south face of the ridge top above BiTe.
Figure 4 – Closeup of sheeted veins in outcrop on the ridge top. Over 50 veins per metre averaging 1.5cm vein width.
The 2025 program will include additional follow-up surface exploration at Grad and in the broader region with mountaineering geologists, excavator trenching and a 4,000m maiden drill program focused on the BiTe target. Drill pad construction has commenced and diamond drilling will commence in the next few days.
Also, the Company has received confirmation from the Northwest Territories Mineral Incentive Program (MIP) that the Company qualifies for $180,630 in funding for the program, which the Company must match on a 60:40 basis (MIP:Rackla). This funding will assist Rackla to evaluate the broader region where the Company has identified numerous exciting targets.
Permits and Program Supports
The Grad Project is fully permitted for the upcoming 2025 exploration season. The Company obtained a five-year, Type A Land Use Permit from the Sahtu Land and Water Board, supporting the maiden drill program. The Permit, with a potential for a two-year extension, allows Rackla to significantly advance its exploration efforts.
All contracts are in place to support the program. The Rackla team will be supported by Horizon Helicopters Inc., Tintina Air Inc., Minconsult Exploration Services, Kluane Diamond Drilling Ltd., AFD Petroleum Ltd., Trailblazer Expediting Inc., Twilite Services Ltd., and Selwyn Chihong Mining Ltd.
BiTe Zone
The BiTe zone occurs within North Nahanni Pluton, a Cretaceous-age, Mayo Suite felsic intrusion and is defined by a broad quartz-sericite alteration zone with intense quartz-tourmaline and quartz-sulfide veining in the intrusive. The intense veining has shattered the intrusive body to almost a schistose appearance. Results of the rock sampling returned significant gold grades, up to 92 g/t Au, with many rock samples returning multi-gram gold. A continuous channel sample taken at the base of the cliff face returned 38m averaging 1.8 g/t Au.
The gold mineralization is associated with bismuth, tellurium +/- tungsten confirming that this is certainly a Reduced Intrusive-Related Gold System (RIRGS). Because of the anomalously high bismuth and tellurium associated with the gold, the discovery was named the BiTe Zone.
The talus-fine sampling program identified a 550-metre interval that returned an average concentration of 1.06 g/t Au, the core zone of this talus interval was a 180-metre interval averaging 3.68 g/t Au.
Regional Exploration
The confirmation of funding from the MIP program provides supplementary financial assistance to the regional program but more importantly is a positive indication of support from the Northwest Territories Geological Survey. Regional crews are preparing to commence the sampling of several other target areas identified by last year’s geochemical program. The program will include an extensive regional surface exploration campaign to test several potential RIRGS targets in the area. The program will include detailed stream sediment sampling, prospecting and rock sampling in the area that has been identified as being highly underexplored but exhibits tremendous potential for new discoveries.
Rackla is working in consultation with the Sahtu communities and remains committed to maintaining the respectful, collaborative relationships we’ve built in the area. As we advance exploration at the Grad Project, we will continue working closely with local stakeholders and regulatory agencies to ensure our activities create long-term value and reflect community priorities.
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. |
