Hot Chili (ASX:HCH,TSXV:HCH,OTCQX:HHLKF) is completing a Pre-feasibility Study (PFS) to progress the development of its Costa Fuego Copper Project towards a decision to mine. Hot Chili collaborates with high-net-worth companies and investors worldwide, including securing an offtake agreement with the copper giant Glencore (OTC:GLEN) after they became the largest shareholder, buying a 9.99 percent stake in Hot Chili six months ago.
The company’s Costa Fuego Project is known for its Indicated Resource of 2.8 million tonnes of copper and 2.6 million ounces of gold, as well as an Inferred Resource of 0.6 million tonnes of copper and 0.4 million ounces of gold. Hot Chili has recently completed a 47,000-meter resource definition drilling program and updated the Mineral Resource Estimate as a key step in its ongoing Pre-Feasibility Study. The asset is ideally located with respect to infrastructure:
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Highlights
· Additional significant intersections returned from development study drilling at the Cortadera porphyry discovery , part of the Company's Costa Fuego senior copper development in Chile
· CORMET003 delivered 552m grading 0.6% CuEq (0.4% copper (Cu), 0.2g/t gold (Au), 89ppm molybdenum (Mo)) from 276m depth down-hole, including 248m grading 0.8% CuEq (0.6% Cu, 0.2g/t Au, 179ppm Mo) from 574m depth - confirming further high grade growth potential at Cuerpo 3
· High grade Indicated resources (+0.6% CuEq), currently standing at 156Mt grading 0.79% CuEq for 1.0Mt Cu, 0.85Moz Au, 2.9Moz Ag & 24kt Mo , set to be further expanded in next resource upgrade later this year
· Assays returned for eleven Reverse Circulation (RC) holes drilled into the large-scale Productora Central target, with several intersections requiring follow-up Diamond Drill (DD) tails
· Drilling to commence across shallow high-grade resource growth opportunities at Valentina and San Antonio in the coming weeks and first drill testing across the large-scale Santiago Z target in the coming month
· Further drill results from Cortadera expected in the coming weeks
* Copper Equivalent (CuEq) reported for the drill holes at Cortadera were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,700 USD/oz, Mo=14 USD/lb, and Ag=20 USD/oz. Average fresh rock metallurgical recoveries were Cu=83%, Au=56%, Mo=82%, and Ag=37%.
Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) ("Hot Chili" or "Company") is pleased to announce another strong result from its Cortadera porphyry discovery, as well as first assay results from exploration drilling being undertaken across its coastal range, Costa Fuego copper-gold hub in Chile.
Development study drill holes at Cortadera continue to return impressive assay results, with high-grade intersections reported from all holes in the program so far.
CORMET003 returned a significant intersection of 552m grading 0.6% CuEq (0.4% copper (Cu), 0.2g/t gold (Au), 89ppm molybdenum (Mo)) from 276m depth down-hole, including 248m grading 0.8% CuEq (0.6% Cu, 0.2g/t Au, 179ppm Mo) from 574m depth.
Importantly, the high grade core of the main porphyry (Cuerpo 3) at Cortadera continues to demonstrate further growth potential following the recently announced resource upgrade for Costa Fuego comprising Indicated resources of 725Mt grading 0.47% CuEq for 2.8Mt Cu, 2.6Moz Au, 10.5Moz Ag & 67kt Mo with high grade Indicated resources (+0.6% CuEq) standing at 156Mt grading 0.79% CuEq for 1.0Mt Cu, 0.85Moz Au, 2.9Moz Ag & 24kt Mo ( see announcement dated 31st March 2022).
CORMET001 was drilled into Cuerpo 1 and also returned a strong result of 70m grading 0.6% CuEq (0.5% Cu, 0.1g/t Au and 11ppm Mo) from 86m depth down-hole. CORMET001 also ended in 6m grading 0.6% copper and supplied critical hydrological and geotechnical data that will be used to inform the Costa Fuego Pre-Feasibility Study (PFS) due Q3 2022.
Hot Chili is also pleased to provide an exploration update on drilling and access clearing activities across several large-scale and high grade, satellite targets being tested this year.
Assay results returned for the first eleven drill holes completed at the Productora Central target this year have provided encouragement and further drilling is planned.
In addition, clearing activities are well advanced across Valentina, San Antonio and Santiago Z. Drilling is planned to commence at Valentina and then San Antonio in the coming weeks, and Santiago Z in the coming month.
Further development study drill results from Cortadera are expected in the coming weeks.
Productora Central Exploration Target - First-pass Drill Results
Results have been returned for eleven deep Reverse Circulation (RC) holes drilled across the Productora Central target. Productora Central is a 1.2km by 1.0km geochemical target, located along the western flank of the planned Productora open pit.
Drilling across the target has proved challenging due to issues penetrating an advanced argillic clay zone (alteration zones are known to overlie large-scale porphyry systems), with several drillholes not achieving planned hole depths.
The most encouraging result was returned from drill hole PRF003, located close to the Serrano fault where clay zones mask the target along strike to the northwest. PRF003 recorded an end of hole intersection of 36m grading 0.2% CuEq (0.2% Cu, 0.1g/t Au, 0.5g/t Ag) from 290m, including 12m grading 0.4% CuEq (0.4% Cu, 0.1g/t Au, 0.4g/t Ag).
Importantly, PRF003 ended in copper mineralisation and a diamond tail is planned to extend the drill hole this quarter.
Results from this first-pass RC programme will be used to refine the Company's three-dimensional geochemical model in advance of follow-up drill design. The next phase of drilling will aim to successfully penetrate the clay zone which is masking an area of elevated molybdenum along the Serrano fault.
San Antonio and Valentina – Drilling to Commence in Coming Weeks
Following the recent Costa Fuego resource upgrade ( see announcement dated 31 st of March 2022 ), Hot Chili have been completing platform clearing across the San Antonio and Valentina high grade copper deposits, located 5 kms northeast of Cortadera.
The Inferred maiden resource for San Antonio ( 4.2Mt @ 1.2% CuEq (1.1% Cu, 2.1g/t Ag) is intended to be upgraded in classification and also tested along strike and at depth. Approximately 13 drill holes are planned and clearing is underway.
Platform clearing across the Valentina historical, high grade, copper mine is well advanced with ten platforms already cleared. Drilling will follow-up previous significant intersections recorded by Hot Chili in 2018 including 12m grading 1.5% copper from 28m down-hole depth (including 6m grading 2.7% copper) in drill hole VAP0001 and 8m grading 2.0% copper from 124m down-hole depth (including 2m grading 4.8% copper) in drill hole VAP0003 ( see ASX announcement dated 5 th September 2018 ).
Drilling is expected to commence at Valentina in the coming weeks and then at San Antonio.
Santiago Z Target – First Access and Platform Clearing Well Advanced
Earthmoving works are in progress at Santiago Z, with a 7km principal access track already constructed and six initial drill platforms expected to be ready for drill testing in late Q2 2022.
Hot Chili's soil results and mapping have confirmed a potentially large copper porphyry footprint measuring over 4km in length and 2km in width at the Santiago Z landholding, located immediately south of Cortadera.
Santiago Z contains a large soil molybdenum anomaly that is twice the size and four times the tenor of the soil molybdenum anomaly related to the Cortadera copper-gold porphyry discovery ( see ASX announcement date 9 th May 2021 ).
Hot Chili's soil programmes over Santiago Z in 2021 confirmed enrichment in copper, gold and silver (Cortadera metal signature) and other element zonation patterns consistent with the presence of a potentially large copper porphyry system at depth.
Mapping by Hot Chili has recognised several areas of outcropping copper-bearing hydrothermal breccia at Santiago Z with no drill testing having ever been undertaken across the target area.
Santiago Z will be a priority target as soon as access is fully established for initial drill testing.
Reported on a 100% Basis - combining Mineral Resource estimates for the Cortadera, Productora and San Antonio deposits. Figures are rounded, reported to appropriate significant figures, and reported in accordance with CIM and NI 43-101. Metal rounded to nearest thousand, or if less, to the nearest hundred. Total Resource reported at +0.21% CuEq for open pit and +0.30% CuEq for underground. Refer to Announcement "Hot Chili Delivers Next Level of Growth" (31st March 2022) for JORC Table 1 information related to the Costa Fuego Mineral Resource estimates.
* Copper Equivalent (CuEq) reported for the resource were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery)+(Mo ppm × Mo price per g/t × Mo_recovery)+(Au ppm × Au price per g/t × Au_recovery)+ (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,700 USD/oz, Mo=14 USD/lb, and Ag=20 USD/oz. For Cortadera and San Antonio (Inferred + Indicated), the average metallurgical recoveries were Cu=83%, Au=56%, Mo=82%, and Ag=37%. For Productora (Inferred + Indicated), the average metallurgical recoveries were Cu=83%, Au=43% and Mo=42%. For Costa Fuego (Inferred + Indicated), the average Metallurgical Recoveries were Cu=83%, Au=51%, Mo=67% and Ag=23%.
This announcement is authorised by the Board of Directors for release to ASX.
Table 1 New Significant DD Results at Cortadera
Significant intercepts are calculated above a nominal cut-off grade of 0.2% Cu. Where appropriate, significant intersections may contain up to 30m down-hole distance of internal dilution (less than 0.2% Cu). Significant intersections are separated where internal dilution is greater than 30m down-hole distance. The selection of 0.2% Cu for significant intersection cut-off grade is aligned with marginal economic cut-off grade for bulk tonnage polymetallic copper deposits of similar grade in Chile and elsewhere in the world.
Down-hole significant intercept widths are estimated to be at or around true-widths of mineralisation
* Copper Equivalent (CuEq) reported for the drill holes at Cortadera were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,700 USD/oz, Mo=14 USD/lb, and Ag=20 USD/oz. Average fresh rock metallurgical recoveries were Cu=83%, Au=56%, Mo=82%, and Ag=37%.
Table 2 New RC Drill Results at Productora Central
Significant intercepts are calculated above a nominal cut-off grade of 0.1% Cu. Where appropriate, significant intersections may contain up to 30m down-hole distance of internal dilution (less than 0.1% Cu). Significant intersections are separated where internal dilution is greater than 30m down-hole distance. The selection of 0.1% Cu for intersection cut-off grade above is selected on the basis of exploration significance and is not meant to represent potential marginal economic cut-off grade for bulk tonnage polymetallic copper deposits of similar grade in Chile and elsewhere in the world.
Down-hole significant intercept widths are estimated to be at or around true-widths of mineralisation
* Copper Equivalent (CuEq) reported for the drill holes at Productora were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,700 USD/oz, Mo=14 USD/lb, and Ag=20 USD/oz. Average fresh rock metallurgical recoveries used were: Cu=89%, Au=58%, Mo=60%, and Ag=0%
Significant intercepts are calculated above a nominal cut-off grade of 0.1% Cu. Where appropriate, significant intersections may contain up to 30m down-hole distance of internal dilution (less than 0.1% Cu). Significant intersections are separated where internal dilution is greater than 30m down-hole distance. The selection of 0.1% Cu for intersection cut-off grade above is selected on the basis of exploration significance and is not meant to represent potential marginal economic cut-off grade for bulk tonnage polymetallic copper deposits of similar grade in Chile and elsewhere in the world.
Down-hole significant intercept widths are estimated to be at or around true-widths of mineralisation
* Copper Equivalent (CuEq) reported for the drill holes at Productora were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery) + (Mo ppm × Mo price per g/t × Mo_recovery) + (Au ppm × Au price per g/t × Au_recovery) + (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,700 USD/oz, Mo=14 USD/lb, and Ag=20 USD/oz. Average fresh rock metallurgical recoveries used were: Cu=89%, Au=58%, Mo=60%, and Ag=0%
Figure 2. Location of development study diamond drill holes at Cortadera
Reported on a 100% Basis - combining Mineral Resource estimates for the Cortadera, Productora and San Antonio deposits. Figures are rounded, reported to appropriate significant figures, and reported in accordance with CIM and NI 43-101. Metal rounded to nearest thousand, or if less, to the nearest hundred. Total Resource reported at +0.21% CuEq for open pit and +0.30% CuEq for underground. Refer to Announcement "Hot Chili Delivers Next Level of Growth" (31st March 2022) for JORC Table 1 information related to the Costa Fuego Mineral Resource estimates.
Copper Equivalent (CuEq) reported for the resource were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery)+(Mo ppm × Mo price per g/t × Mo_recovery)+(Au ppm × Au price per g/t × Au_recovery)+ (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,700 USD/oz, Mo=14 USD/lb, and Ag=20 USD/oz. For Cortadera and San Antonio (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=56%, Mo=82%, and Ag=37%. For Productora (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=43% and Mo=42%. For Costa Fuego (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=51%, Mo=67% and Ag=23%.
** Note: Silver (Ag) is only present within the Cortadera Mineral Resource estimate
Competent Person's Statement- Exploration Results
Exploration information in this Announcement is based upon work compiled by Mr Christian Easterday, the Managing Director and a full-time employee of Hot Chili Limited whom is a Member of the Australasian Institute of Geoscientists (AIG). Mr Easterday has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a ‘Competent Person' as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (JORC Code). Mr Easterday consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.
Competent Person's Statement- Costa Fuego Mineral Resources
The information in this report that relates to Mineral Resources for Cortadera, Productora and San Antonio which constitute the combined Costa Fuego Project is based on information compiled by Ms Elizabeth Haren, a Competent Person who is a Member and Chartered Professional of The Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Ms Haren is a full-time employee of Haren Consulting Pty Ltd and an independent consultant to Hot Chili. Ms Haren has sufficient experience, which is relevant to the style of mineralisation and types of deposits under consideration and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Ms Haren consents to the inclusion in the report of the matters based on her information in the form and context in which it appears. For further information on the Costa Fuego Project, refer to the technical report titled "Resource Report for the Costa Fuego Technical Report", dated December 13, 2021, which is available for review under Hot Chili's profile at www.sedar.com.
Reporting of Copper Equivalent
Copper Equivalent (CuEq) reported for the resource were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery)+(Mo ppm × Mo price per g/t × Mo_recovery)+(Au ppm × Au price per g/t × Au_recovery)+ (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,700 USD/oz, Mo=14 USD/lb, and Ag=20 USD/oz. For Cortadera and San Antonio (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=56%, Mo=82%, and Ag=37%. For Productora (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=43% and Mo=42%. For Costa Fuego (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=51%, Mo=67% and Ag=23%.
For further information please visit www.SEDAR.com
About Hot Chili
Hot Chili Limited is a mineral exploration company with assets in Chile. The Company's flagship project, Costa Fuego, is the consolidation into a hub of the Cortadera porphyry copper-gold discovery and the Productora copper-gold deposit, set 14 km apart in an excellent location – low altitude, coastal range of Chile, infrastructure rich, low capital intensity.The Costa Fuego landholdings, contains an Indicated Resource of 391Mt grading 0.52% CuEq (copper equivalent), containing 1.7 Mt Cu, 1.5 Moz Au, 4.2 Moz Ag, and 37 kt Mo and an Inferred Resource of 334Mt grading 0.44% CuEq containing 1.2Mt Cu, 1.2 Moz Au, 5.6 Moz Ag and 27 kt Mo, at a cut-off grade of 0.25% CuEq.The Company is working to advance its Costa Fuego Project through a preliminary feasibility study (followed by a full FS and DTM), and test several high-priority exploration targets.
Certain statements contained in this news release, including information as to the future financial or operating performance of Hot Chili and its projects may include statements that are "forward‐looking statements" which may include, amongst other things, statements regarding targets, estimates and assumptions in respect of mineral reserves and mineral resources and anticipated grades and recovery rates, production and prices, recovery costs and results, and capital expenditures and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions.These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Hot Chili, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies and involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward‐looking statements.
Hot Chili disclaims any intent or obligation to update publicly or release any revisions to any forward‐looking statements, whether as a result of new information, future events, circumstances or results or otherwise after the date of this news release or to reflect the occurrence of unanticipated events, other than as may be required by law. The words "believe", "expect", "anticipate", "indicate", "contemplate", "target", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule" and similar expressions identify forward‐looking statements.
All forward‐looking statements made in this news release are qualified by the foregoing cautionary statements. Investors are cautioned that forward‐looking statements are not a guarantee of future performance and accordingly investors are cautioned not to put undue reliance on forward‐looking statements due to the inherent uncertainty therein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Investor Relations
Graham Farrell
+1 416-842-9003
Graham.Farrell@harbor-access.com
Investor Relations
Jonathan Paterson
+1 475-477-9401
Jonathan.Paterson@Harbor-Access.com
Managing Director
Christian Easterday
https://www.hotchili.net.au/investors/
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Vancouver, British Columbia TheNewswire - April 25 th, 2025 Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the "Company" or "Juggernaut"), further to its April 14 th and April 23 rd 2025, news releases, the Company is pleased to announce a further increase in its non-brokered financing of up to $9,557,000. Juggernaut welcomes this strategic investment from Crescat Capital Funds LLC ("Crescat") and technical support from Dr Quinton Hennigh. Juggernaut's Big One Project is garnering strong interest and support from leading institutions and miners globally, confirming the quality of the newly discovered 11 km Highway of Gold surrounding the Eldorado porphyry system on the Big One property. The exciting discovery is in an area of glacial and snowpack abatement next door to the gold-rich porphyry systems at Newmont Mining's Galore Creek. The Big One Property is a discovery previously announced Jan 20 th (Click Link) with assays up to 79.01 gt gold (2.54 ozt gold) and 3157.89 gt silver (101.5 ozt silver) from over 200 gold-silver-copper rich polymetallic veins up to 8 m wide and striking for up to 500 m that all remain open at surface. The Big One Project covers 33,693 hectares in a world-class geologic terrane with tremendous additional discovery potential in the heart of the Golden Triangle, British Columbia.
Dr. Quinton Hennigh has taken on the role of special technical advisor to the Company. He is the technical consultant for all Crescat's gold and silver mining investments. Dr. Hennigh is a world-renowned exploration geologist with over 40 years of experience with major gold mining firms, Homestake Mining, Newcrest Mining, Newmont Mining, and Kirkland Lake/Fosterville. In just the last five years, Dr. Hennigh was instrumental in several material discoveries, including Goliath / Surebet, Newfound / Queensway, SCM / Isidorito, Eloro / Iska Iska, Snowline / Valley, Sitka / RC Gold Project, and Tectonic / Flat.
Dr. Hennigh stated , "The Big One gold-silver project has a very similar feel to Goliath's Surebet gold discovery. To date, reconnaissance prospecting and sampling conducted by Juggernaut's exploration team have identified a multitude of multi-meter thick quartz-sulfide veins, many of which have yielded +oz per tonne Au and multi-oz per tonne Ag assays. Early indications suggest there is a genetic association of veins with late-stage magmatism in the area, an association seen at Surebet. This season, Juggernaut has a clear mandate to follow up on these results with detailed mapping and channel sampling, much like Goliath did during the early days of the Surebet discovery. The Company's mission is to get as many targets as possible ready for drill testing either late season or for 2026. I am very eager to see if a new "Surebet" type discovery is in hand.
View Juggernaut videos by Clicking Here .
The charity flow-through funding will now consist of up to 9,160,000 charity flow-through units ("CFT Units"), priced at $0.825 each, for gross proceeds of up to $7,557,000. Each CFT Unit will consist of one charity flow-through common share plus one warrant to purchase one non-flow-through common share at $0.75 for a sixty-month period with a forced accelerated conversion after 10 consecutive trading days at or above $1.50, callable at management's discretion.
Juggernaut is concurrently raising up to 4,000,000 hard dollar units priced at $0.50 each for gross proceeds of up to $2,000,000. Each hard dollar unit will consist of one common share plus one warrant at $0.75 for a sixty-month period with a forced accelerated conversion after 10 consecutive trading days at or above $1.50, callable at management's discretion, upon completion of the charity flow-through and hard dollar financings for a combined total of $9,557,000, which is projected to close on or before May 15, 2025. The proceeds will be used to explore Juggernaut's properties located in Northwestern B.C. and for general working capital.
"Gold exploration is all about swinging for the fence. Persevering with a diversified portfolio of great management and technical teams with bold targets is the key. The cool thing about Juggernaut is that it has the same geologic team as the one behind Goliath Resources, where their Surebet gold discovery has already been a home run, based on personal experience. We are happy to invest in Juggernaut and this team. It's time for Big One, which may be the best target yet for this company and team. We are eager to support them with capital for another at-bat." - Kevin Smith, CFA, Founder & CEO of Crescat Capital .
Directors and officers of the company may acquire securities under the placement, which participation would be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
Mr. Dan Stuart, Director, President, and CEO of Juggernaut, states:
"We are pleased to strengthen our relationship, both with Crescat Capital as a strategic investor and Dr. Hennigh as a Special Technical Advisor and investor. I look forward to working with our partners who bring a proven track record of both financial and technical strength. This will enable Juggernaut to unlock the full potential of its assets over the long term, building value for all shareholders. This investment and strategic partnership, coupled with the ongoing support and interest from other globally recognized Institutions and senior miners, is a strong endorsement that clearly demonstrates the significant near-term discovery potential of our 100% controlled properties. Post financing, Juggernaut will have an extremely tight capital structure of just 30,025,297 shares, no debt, and a strong cash position of ~ $9,600,000. As such, we are well-positioned to move forward with our plans of drilling The Big One Discovery. With much anticipation, we look forward to executing the inaugural exploration program and reporting results."
The Company may pay finder's fees of the gross proceeds from the financing in cash, and compensation options on units being sold. This non-brokered private placement is subject to TSX Venture Exchange approval. All shares issued pursuant to this offering and any shares issued pursuant to the exercise of warrants will be subject to a four-month hold period from the closing date.
About Crescat Capital LLC
Crescat is a global macro asset management firm headquartered in Denver, Colorado. Crescat's mission is to grow and protect wealth over the long term by deploying tactical investment themes based on proprietary value-driven equity and macro models. Crescat's goal is industry-leading absolute and risk-adjusted returns over complete business cycles with low correlation to common benchmarks. Over the last several years, Crescat has been building activist stakes in a portfolio of precious metals explorers to express one of its primary macro themes. The company's investment process involves a mix of asset classes and strategies to assist with each client's unique needs and objectives, and includes Global Macro, Long/Short, Large Cap, and Precious Metals funds.
About Juggernaut Exploration Ltd.
Juggernaut Exploration Ltd. is an explorer and generator of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. Its projects are in world-class geological settings and geopolitical safe jurisdictions amenable to Tier 1 mining in Canada. Juggernaut is a member and active supporter of CASERM, an organization representing a collaborative venture between the Colorado School of Mines and Virginia Tech. Juggernaut's key strategic cornerstone shareholder is Crescat Capital.
For more information, please contact
Dan Stuart
President, Director, and Chief Executive Officer
604-559-8028
info@juggernautexploration.com
Qualified Person
Rein Turna P. Geo is the qualified person as defined by National Instrument 43-101, for Juggernaut Exploration projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD LOOKING STATEMENT
Certain disclosures in this release may constitute forward-looking statements that are subject to numerous risks and uncertainties relating to Juggernaut's operations that may cause future results to differ materially from those expressed or implied by those forward-looking statements, including its ability to complete the contemplated private placement. Readers are cautioned not to place undue reliance on these statements.
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Vancouver, British Columbia TheNewswire - April 23 rd, 2025 Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the "Company" or "Juggernaut"), further to its April 14, 2025, news release, the Company is pleased to announce an increase in its non-brokered financing of up to $8,600,000. Juggernaut welcomes this strategic investment from Crescat Capital Funds LLC ("Crescat") and technical support from Dr Quinton Hennigh. Juggernaut's Big One Project is garnering strong interest and support from leading institutions and miners globally, confirming the quality of the newly discovered 11 km Highway of Gold surrounding the Eldorado porphyry system on the Big One property. The exciting discovery is in an area of glacial and snowpack abatement next door to the gold-rich porphyry systems at Newmont Mining's Galore Creek. The Big One Property is a discovery previously announced Jan 20 th (Click Link) with assays up to 79.01 gt gold (2.54 ozt gold) and 3157.89 gt silver (101.5 ozt silver) from over 200 gold-silver-copper rich polymetallic veins up to 8 m wide and striking for up to 500 m that all remain open at surface. The Big One Project covers 33,693 hectares in a world-class geologic terrane with tremendous additional discovery potential in the heart of the Golden Triangle, British Columbia.
Dr. Quinton Hennigh has taken on the role of special technical advisor to the Company. He is the technical consultant for all Crescat's gold and silver mining investments. Dr. Hennigh is a world-renowned exploration geologist with over 40 years of experience with major gold mining firms, Homestake Mining, Newcrest Mining, Newmont Mining, and Kirkland Lake/Fosterville. In just the last five years, Dr. Hennigh was instrumental in several material discoveries, including Goliath / Surebet, Newfound / Queensway, SCM / Isidorito, Eloro / Iska Iska, Snowline / Valley, Sitka / RC Gold Project, and Tectonic / Flat.
Dr. Hennigh stated , "The Big One gold-silver project has a very similar feel to Goliath's Surebet gold discovery. To date, reconnaissance prospecting and sampling conducted by Juggernaut's exploration team have identified a multitude of multi-meter thick quartz-sulfide veins, many of which have yielded +oz per tonne Au and multi-oz per tonne Ag assays. Early indications suggest there is a genetic association of veins with late-stage magmatism in the area, an association seen at Surebet. This season, Juggernaut has a clear mandate to follow up on these results with detailed mapping and channel sampling, much like Goliath did during the early days of the Surebet discovery. The Company's mission is to get as many targets as possible ready for drill testing either late season or for 2026. I am very eager to see if a new "Surebet" type discovery is in hand.
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The charity flow-through funding will consist of up to 8,000,000 charity flow-through units ("CFT Units"), priced at $0.825 each, for gross proceeds of up to $6,600,000. Each CFT Unit will consist of one charity flow-through common share plus one warrant to purchase one non-flow-through common share at $0.75 for a sixty-month period with a forced accelerated conversion after 10 consecutive trading days at or above $1.50, callable at management's discretion.
Juggernaut is concurrently raising up to 4,000,000 hard dollar units priced at $0.50 each for gross proceeds of up to $2,000,000. Each hard dollar unit will consist of one common share plus one warrant at $0.75 for a sixty-month period with a forced accelerated conversion after 10 consecutive trading days at or above $1.50, callable at management's discretion, upon completion of the charity flow-through and hard dollar financings for a combined total of $8,600,000, which is projected to close on or before May 15, 2025. The proceeds will be used to explore Juggernaut's properties located in Northwestern B.C. and for general working capital.
"Gold exploration is all about swinging for the fence. Persevering with a diversified portfolio of great management and technical teams with bold targets is the key. The cool thing about Juggernaut is that it has the same geologic team as the one behind Goliath Resources, where their Surebet gold discovery has already been a home run, based on personal experience. We are happy to invest in Juggernaut and this team. It's time for Big One, which may be the best target yet for this company and team. We are eager to support them with capital for another at-bat." - Kevin Smith, CFA, Founder & CEO of Crescat Capital .
Directors and officers of the company may acquire securities under the placement, which participation would be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). Such participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
Mr. Dan Stuart, Director, President, and CEO of Juggernaut, states:
"We are pleased to strengthen our relationship, both with Crescat Capital as a strategic investor and Dr. Hennigh as a Special Technical Advisor and investor. I look forward to working with our partners who bring a proven track record of both financial and technical strength. This will enable Juggernaut to unlock the full potential of its assets over the long term, building value for all shareholders. This investment and strategic partnership, coupled with the ongoing support and interest from other globally recognized Institutions and senior miners, is a strong endorsement that clearly demonstrates the significant near-term discovery potential of our 100% controlled properties. Post financing, Juggernaut will have an extremely tight capital structure of just 28,744,084 shares, no debt, and a strong cash position of ~ $9,000,000. As such, we are well-positioned to move forward with our plans of drilling The Big One Discovery. With much anticipation, we look forward to executing the inaugural exploration program and reporting results."
The Company may pay finder's fees of the gross proceeds from the financing in cash, and compensation options on units being sold. This non-brokered private placement is subject to TSX Venture Exchange approval. All shares issued pursuant to this offering and any shares issued pursuant to the exercise of warrants will be subject to a four-month hold period from the closing date.
About Crescat Capital LLC
Crescat is a global macro asset management firm headquartered in Denver, Colorado. Crescat's mission is to grow and protect wealth over the long term by deploying tactical investment themes based on proprietary value-driven equity and macro models. Crescat's goal is industry-leading absolute and risk-adjusted returns over complete business cycles with low correlation to common benchmarks. Over the last several years, Crescat has been building activist stakes in a portfolio of precious metals explorers to express one of its primary macro themes. The company's investment process involves a mix of asset classes and strategies to assist with each client's unique needs and objectives, and includes Global Macro, Long/Short, Large Cap, and Precious Metals funds.
About Juggernaut Exploration Ltd.
Juggernaut Exploration Ltd. is an explorer and generator of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. Its projects are in world-class geological settings and geopolitical safe jurisdictions amenable to Tier 1 mining in Canada. Juggernaut is a member and active supporter of CASERM, an organization representing a collaborative venture between the Colorado School of Mines and Virginia Tech. Juggernaut's key strategic cornerstone shareholder is Crescat Capital.
For more information, please contact
Dan Stuart
President, Director, and Chief Executive Officer
604-559-8028
info@juggernautexploration.com
Qualified Person
Rein Turna P. Geo is the qualified person as defined by National Instrument 43-101, for Juggernaut Exploration projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD LOOKING STATEMENT
Certain disclosures in this release may constitute forward-looking statements that are subject to numerous risks and uncertainties relating to Juggernaut's operations that may cause future results to differ materially from those expressed or implied by those forward-looking statements, including its ability to complete the contemplated private placement. Readers are cautioned not to place undue reliance on these statements. NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR AN INVITATION TO PURCHASE ANY SECURITIES DESCRIBED IN IT.
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finlay minerals ltd. (TSXV: FYL) (OTCQB: FYMNF) ("Finlay" or the "Company") is pleased to announce the staking of 9 mineral claims covering 15,453 hectares (approximately 154 km²) in the northern Bear Lake Corridor of British Columbia . The JJB Property is named in honour of Finlay's Founder, John J. Barakso who was an early advocate for the potential of the Bear Creek Corridor.
JJB PROPERTY:
The JJB Property is located within a highly prospective 135-kilometer-long belt in the Stikine Terrane, which hosts several significant copper (Cu) and silver (Ag) showings and prospects. Noteworthy nearby projects include Zimtu Capital Corp.'s Copperline Project and Doubleview Gold Corp.'s Red Spring Project. Additionally, porphyry projects along the Bear Lake trend include Imperial Metals' Cu-Mo Porphyry Bear Lake Project, American Eagle Gold's Cu-Au-Mo ± Ag NAK Project, Amarc Resources Ltd.'s DUKE Project, and HDI Quartz Mountain's Cu Porphyry Jake Project.
The JJB area has geology similar to that of the deposits found in the Bear Lake Corridor. Three main copper showings have been identified on the property: Squingula, Quin, and Pat. The Squingula and Quin showings are located near an Eocene intrusion on the west side, characterized by a coincident magnetic high. This magnetic high is surrounded by a low that corresponds with an iron oxide anomaly, potentially indicative of a porphyry target. Both the intrusion and the magnetic and iron oxide signatures are associated with a multi-element geochemical anomaly identified through limited sampling. Mineralization appears to be influenced by major northwest-trending structures and east-west cross structures, with known mineralization occurring at the intersections of these structures.
In 2025, exploration work at the JJB will focus on expanding the geochemical anomalies within the gossanous magnetic low surrounding the magnetic high. Priority will be given to an airborne magnetic survey, along with prospecting and soil sampling.
Details on the JJB Property can be found in the JJB Property Technical Presentation and in the Properties section of the Company website at www.finlayminerals.com .
SAY PROPERTY:
Lying 4 km south of Finlay's new JJB Property, work continues on the SAY Property, which has recently been expanded with additional staking to the north and south. The SAY Property now totals 26,202 hectares. The SAY Property was acquired in 2024, and an inaugural field program focused on chip sampling and mapping along the 4.3-kilometer-long SPUR Trend. This led to the discovery of the AG Zone and confirmed the continuity of high-grade Cu-Ag mineralization in the East Breccia Zone.
The SPUR is a high-grade Cu-Ag structural vein and breccia target that extends for 4.3 km along the north-northwest Tsaytut Spur ridge * .
The SHEL target area is a Cu-Mo porphyry identified through historic mapping and drilling. SHEL mineralization is reported to be associated with veining and breccias within quartz-feldspar porphyry dikes and lies on the western margin of an unexplored 3 km x 2 km magnetic high * . Historical assays and airborne magnetic data indicate the potential for the expansion of known mineralization in these two target areas.
In 2025, exploration work at the SAY will aim to expand the mineralized footprint of the SPUR and SHEL targets through geological mapping, soil sampling, and an airborne magnetic survey.
Details on the SAY Property, can be found in the SAY Property Technical Presentation and in the Properties section of the Company website at www.finlayminerals.com .
References:
* | Refer to finlay minerals ltd. News Release # 11-24 dated October 3, 2024 entitled: " Finlay Minerals has completed its Inaugural Field Program at the High-Grade Copper-Silver SAY Property " available on SEDAR at www.sedarplus.ca. |
Qualified Person:
Wade Barnes , P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.
About finlay minerals ltd.
Finlay is a TSXV company focused on exploration for base and precious metal deposits with five 100%-owned and operated properties in northern British Columbia . In addition to the JJB & SAY Properties, the Company holds the:
Finlay trades under the symbol "FYL" on the TSXV and under the symbol "FYMNF" on the OTCQB. For further information and details, please visit the Company's website at www.finlayminerals.com
On behalf of the Board of Directors,
Robert F. Brown
President, CEO & Director
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for the JJB and SAY Properties. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.
SOURCE finlay minerals ltd.
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HIGHLIGHTS
Chief Executive Officer, Mitch Thomas, commented:
“These results confirm the significant potential at the Cinto Project, where we've substantially expanded Solis’ porphyry copper mineralisation footprint. Notably, we're seeing mineralisation styles similar to those at the major Toquepala mine, just 15km away. Geophysical data from drone magnetometry supports scale potential and highlights new target areas. As a stand-alone project, Cinto is a compelling copper porphyry target.
Our on-ground team recently hosted site visits for our technical director Mike Parker and myself across our project portfolio. Visible mineralisation at surface at Ilo Este and Cinto was a highlight. The clear, visible prospectivity in our projects very much aligns with our objective of identifying copper-gold resources that have potential to host large-scale mining in one of the world’s leading copper producing regions.
With drilling set to begin at Chancho al Palo3 and Ilo Este this quarter, and Cinto advancing toward drilling in the second half of 2025, Solis Minerals’ portfolio of 100% owned projects has incredible potential for discovery of multiple copper-gold resources capable of supporting mining operations.”
Summary
Exploration results at Cinto from channel sampling (Table 1) show a continuation of the mineralised breccia zones previously announced on 11 February 2025. A new channel, Channel 11, situated between previously reported Channels 7 and 8, reported 26.5m @ 0.28% Cu, including 5.39m @ 1.0% Cu.
The copper mineralisation encountered at Cinto to date is predominantly in breccias, the major mineralisation host at Toquepala, 15km northwest of Cinto. Four mineralisation types have been identified in distinct zones. Cinto is situated on the major Incapuquio Fault System which favoured the emplacement of intrusions related to large-scale porphyry copper deposits of Toquepala, Quellaveco, and Cuajone (Figure 1). Toquepala is one of Peru’s oldest and largest copper producers (200ktpa copper production).
Figure 1: Cinto tenements and neigbouring Toquepala operation and peer concession holders.
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