
February 04, 2025
Juggernaut Exploration Ltd (JUGR.V) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) is pleased to announce that it has the option to earn 100 % interest in the Big One property (the “Property”) from the B-ALL Syndicate Ltd. The Big One Property is a new discovery with assays up to 79.01 g/t gold (2.54 oz/t gold) and 3157.89 g/t silver (101.5 oz/t silver) from >200 gold-silver-copper rich polymetallic veins up to 8 m wide and striking for up to 500 m that remain open. These veins were identified along the newly discovered 11 km Highway of Gold surrounding the Eldorado porphyry system on the Big One property. The discovery is located in an area of glacial and snowpack abatement adjacent to the world-class gold-rich porphyry systems at Galore Creek. The property covers 33,693 hectares in world-class geologic terrane with tremendous additional discovery potential in the heart of the Golden Triangle, British Columbia. The Big One property was generated, staked and the original discovery was made by the B-ALL Syndicate.
Dan Stuart, President and CEO of Juggernaut Exploration, states,“We are excited to have been selected as the vehicle to explore, drill, and develop this exciting discovery home to the 11 km Highway of Gold, where over 200 high-grade gold-silver polymetallic veins up to 8 m thick and exposed on surface for over 500 m have assayed up to 79.01 g/t gold (2.54 oz/t gold) and 3157.89 g/t silver (101.5 oz/t silver) and remain open. Even more exciting is the fact that the mineralization observed on the surface is indicative of a much larger precious and base metal porphyry system or systems at depth. To have 100 % control over a district-scale property of this caliber located in world-class geologic terrane in close proximity to a Tier 1 deposit the likes of Galore Creek is a once-in-a-lifetime opportunity. With ~95 % of the Big One property remaining unexplored and hosting vast areas of newly exposed outcrop due to glacial and snowpack retreat, it provides for excellent additional long-term discovery potential. The Big One discovery has already garnered serious interest from multiple miners and institutions alike. The company looks forward to the maiden drill program, which could very quickly evolve into a world-class gold discovery.”
ELDORADO PORPHRYRY SYSTEM / 11 KM HIGHWAY OF GOLD HIGHLIGHTS
- Whopper vein: grab samples from 5 m wide quartz-sulphide vein hosted in an 8 m wide mineralized shear zone returned 16.04 g/t AuEq (13.12 g/t Au, 169.88 g/t Ag, 0.51 % Cu, 1.65 % Pb, 0.42 % Zn) as well as 13.10 g/t AuEq (10.62 g/t Au, 206.32 g/t Ag, 0.01 % Cu, 0.77 % Zn, 0.01 % Pb) and 7.42 g/t AuEq (6.01 g/t Au, 121.97 g/t Ag, 0.01 % Cu, 0.06 % Pb, 0.09 % Zn). The Whopper vein is exposed on surface for 100 m and remains open along strike where it goes under snowpack and ice. The quartz vein consists of lenses and seams of massive pyrite and galena contained in the quartz vein and stockwork. The high-grade Whopper vein geochemical and geophysical signatures are indicative of a porphyry source at depth. This target is drill ready.Big One Whopper Image 1Big One Whopper Image 2, Big One Whopper Image 3,Big One Whopper Image 4, Big One Whopper Video
- Big Mac Vein: Grab sample from a quartz-sulphide vein hosted in a 4 m wide shear zone that contains stringers of semi-massive galena as well as clots of chalcopyrite and pyrite assayed 41.46 g/t AuEq (37.98 g/t Au, 70.37 g/t Ag, 0.24 % Cu, 5.72 % Pb, 3.93 % Zn), as well as 10.67 g/t AuEq (10.61 g/t Au, 3.55 g/t Ag, 0.01 % Cu, 0.01 % Pb, 0.01 % Zn). The Big Mac vein is exposed for 50 m where it goes under overburden/ice and remains open. The Big Mac vein’s geochemical signature is conducive for a porphyry source that is also indicated by geophysical anomalies at depth. This target is drill ready. Big One Big Mac ImageBig One Big Mac Video
- Giant Vein: Channel sample across 1.5 m quartz vein with lenses and stringers of semi-massive to massive chalcopyrite and pyrite returned 6.10 g/t AuEq (5.06 g/t Au, 91.41 g/t Ag, 0.01 % Cu, 0.05 % Pb, 0.03 % Zn). The vein extends vertically for 30 m and remains open within a large gossanous area 100 m wide. The Giant vein’s geochemical signature is conducive for a porphyry source that is also indicated by geophysical anomalies at depth. This target is drill ready. Big One Giant Image
- Deluxe Vein: Channel sample across a 45 cm vein containing semi-massive galena and pyrite assayed 37.20 g/t AuEq (12.12 g/t Au, 2084.61 g/t Ag, 0.02 % Cu, 8.04 % Pb, 0.01 % Zn) as well as 7.68 g/t AuEq (3.39 g/t Au, 380.15 g/t Ag, 0.01 % Cu, 0.11 % Pb, 0.01 % Zn). The vein is up to 2 m wide and has been traced along strike for 150 m and remains open. The Deluxe vein has a geophysical anomaly at depth that is conducive for a porphyry source. This target is drill ready. Big One_Deluxe ImageBig One Deluxe Video
- Double Decker: Grab sample from a set of intersecting quartz-sulphide veins up to 50 cm wide and exposed for 60 m returned 22.04 g/t AuEq (19.82 g/t Au, 216.65 g/t Ag). The veins contain seams of semi-massive galena and pyrite and remain open. The Double Decker vein has a geophysical anomaly at depth that is conducive for a porphyry source. This target is drill ready. Big One DoubleDecker
- Eldorado consists of a high-grade polymetallic gold-silver zone named Highway of Gold that stretches 11 km and remains open on newly exposed bedrock along the fringes of the Geology Ridge icefield and Decker Creek glacier
- Eldorado demarks an area of 7.5 Km of recently exposed bedrock containing substantial propylitic alteration, hydrothermal veining, and epithermal veining with 200 quartz-sulphide veins up to 8 m wide containing semi-massive to massive chalcopyrite, sphalerite and galena with grades up to 79.01 g/t Au (2.54 oz/t Au) and 3157 g/t Ag (101.5 oz/t Ag), that remains open
- The polymetallic veins, alteration signature, geochemical path finder element signature, and geophysical anomalies strongly indicate the presence of a common buried gold-silver-copper rich porphyry feeder source at depth responsible for the extensive high-grade veining confirmed on surface
- The newly exposed Eldorado system contains 200 veins over an area of 1.2 km by 800 m that remains open. Within this zone, veins up to 8 m wide and striking up to 500 m were observed (Whopper vein), containing semi-massive to massive chalcopyrite, sphalerite and galena, indicated to be the source of historic high-grade gold-silver angular float samples reported in the 1960s in the valley below. Both the zone and the system remain open and are drill ready.
- At least two extensive areas with strong porphyry potential have been identified where the distribution of geochemical path finder elements overlaps with strong geophysical anomalies as well as multiple gold-rich polymetallic veins in outcrop and clearly corresponds to the typical signature observed within or in close proximity to a porphyry system.Big One Geochemistry Maps
The results from the August 2024 reconnaissance exploration program on the Big One property confirmed the excellent untapped exploration potential of the area with the discovery of the extensive high-grade Eldorado gold-silver-copper system found along the 11 km Highway of Gold in newly exposed outcrop around the fringes of the snowfields/glaciers. The Eldorado discovery is bordered by an extensive zone of propylitic alteration halo covering an area of 4 km by 1 km and porphyry textures in outcrop, which, coupled with buried geophysical anomalies and strong geochemical pathfinder element signatures, strongly indicates the presence of a large mineralizing (porphyry) system or systems at depth indicated to be the origin of the extensive high-grade gold, silver and copper mineralization confirmed in veins on surface that remains open.
The Big One property covers 33,693 hectares of world-class geologic terrain in the heart of the Golden Triangle of British Columbia, Canada. The property is largely unexplored, and only recently, due to ongoing rapid glacial and snowpack abatement, has an opportunity been provided to explore extensive areas of the newly exposed outcrop, which has strong potential for discovery today and into the future.
The Eldorado system is indicated to be the source of angular float samples with grades up to 16.9 g/t Au and 49 g/t Ag, discovered in the early 1960s. Eldorado corresponds to the location of the source that was suggested by renowned geologist and glaciation expert Dr. Richard E Kucera in 1990 to the west of the boulder field at an elevation of >4700 ft, which at the time was covered by permanent snow and ice. Big One Float Zone
We have only started to scratch the property's surface and have likely only seen the tip of the iceberg. A number of mineralized occurrences, including porphyry and extensive high-grade polymetallic veins, were discovered on the Big One property, clearly demonstrating the enormous untapped potential of this area, which could quickly evolve into a new world-class discovery.
Table 1: Assay highlights from the Big One property
Sample ID | Sample Type | Au (g/t) | Ag (g/t) | Cu (%) | Pb (%) | Zn (%) | AuEq (g/t) |
D751282 | Grab | 79.01 | 53.49 | 0.13 | 0.43 | 0.80 | 80.08 |
D751966 | Grab | 56.54 | 23.40 | 0.03 | 0.02 | 0.03 | 56.84 |
D751216 | Grab | 37.98 | 70.37 | 0.24 | 5.72 | 3.93 | 41.46 |
D751164 | Grab | 2.03 | 3157.89 | 0.38 | 2.04 | 0.31 | 38.28 |
D751191 | Channel | 12.12 | 2084.61 | 0.02 | 8.04 | 0.00 | 37.20 |
D751156 | Grab | 33.72 | 128.83 | 0.27 | 2.71 | 0.27 | 36.11 |
D751964 | Talus | 23.47 | 105.31 | 1.37 | 0.01 | 0.00 | 26.07 |
D750389 | Grab | 8.10 | 1421.50 | 1.11 | 0.15 | 2.70 | 26.01 |
D751163 | Float | 23.97 | 2.75 | 0.02 | 2.16 | 0.13 | 24.53 |
D751209 | Grab | 19.82 | 216.65 | 0.00 | 0.00 | 0.00 | 22.24 |
D750394 | Grab | 13.12 | 169.88 | 0.51 | 1.65 | 0.42 | 16.04 |
D751285 | Grab | 3.74 | 101.58 | 7.96 | 0.01 | 0.01 | 13.18 |
D751975 | Grab | 10.62 | 206.32 | 0.00 | 0.77 | 0.01 | 13.10 |
D750192 | Grab | 3.44 | 230.39 | 6.61 | 0.00 | 0.01 | 12.91 |
D751943 | Grab | 4.00 | 99.85 | 0.30 | 15.35 | 8.35 | 11.32 |
D750198 | Float | 6.01 | 32.31 | 0.14 | 0.04 | 15.30 | 11.21 |
D750608 | Grab | 10.62 | 3.55 | 0.00 | 0.01 | 0.01 | 10.67 |
D751154 | Grab | 5.72 | 219.32 | 0.22 | 1.81 | 1.34 | 9.20 |
D751969 | Float | 5.59 | 187.89 | 0.40 | 1.91 | 0.98 | 8.82 |
D751284 | Float | 6.34 | 56.05 | 0.03 | 6.78 | 0.59 | 8.66 |
D751151 | Float | 2.79 | 95.04 | 0.01 | 20.00 | 1.22 | 8.59 |
D751192 | Channel | 3.39 | 380.15 | 0.01 | 0.11 | 0.00 | 7.68 |
D751104 | Float | 3.79 | 187.22 | 0.30 | 4.60 | 1.12 | 7.54 |
D750395 | Grab | 6.01 | 121.97 | 0.01 | 0.06 | 0.09 | 7.42 |
D751939 | Channel | 5.06 | 91.41 | 0.00 | 0.05 | 0.03 | 6.10 |
D751107 | Float | 4.09 | 74.75 | 0.22 | 1.20 | 0.95 | 5.71 |
D751112 | Float | 4.94 | 60.63 | 0.00 | 0.31 | 0.02 | 5.70 |
D751158 | Grab | 4.60 | 33.15 | 0.04 | 1.36 | 0.02 | 5.31 |
D750657 | Grab | 3.71 | 41.29 | 0.76 | 0.01 | 0.02 | 4.98 |
D751215 | Grab | 2.96 | 105.47 | 0.04 | 0.04 | 2.15 | 4.84 |
D750094 | Grab | 0.02 | 100.05 | 1.01 | 0.06 | 8.60 | 4.83 |
D750656 | Grab | 1.56 | 100.27 | 0.06 | 7.88 | 0.25 | 4.53 |
D750088 | Grab | 0.16 | 166.59 | 0.04 | 7.63 | 1.50 | 4.18 |
D750664 | Float | 0.46 | 224.12 | 0.02 | 4.51 | 0.08 | 3.99 |
D751697 | Grab | 0.09 | 97.20 | 2.35 | 0.01 | 0.07 | 3.65 |
D751283 | Float | 0.26 | 14.00 | 3.02 | 0.00 | 0.00 | 3.57 |
D751946 | Grab | 0.02 | 125.23 | 0.72 | 0.18 | 4.35 | 3.54 |
D751699 | Grab | 2.15 | 67.96 | 0.01 | 2.63 | 0.06 | 3.51 |
D751195 | Channel | 1.61 | 36.67 | 0.82 | 1.27 | 0.71 | 3.37 |
D750554 | Channel | 0.05 | 80.48 | 0.35 | 1.05 | 5.34 | 3.17 |
D750199 | Grab | 0.15 | 113.29 | 0.01 | 7.73 | 0.05 | 3.13 |
D751836 | Chip | 0.22 | 98.74 | 0.00 | 5.21 | 1.59 | 2.95 |
D751845 | Chip | 2.63 | 27.78 | 0.00 | 0.01 | 0.00 | 2.95 |
D751972 | Channel | 1.42 | 44.82 | 0.03 | 3.43 | 0.68 | 2.90 |
D751846 | Grab | 2.59 | 24.90 | 0.01 | 0.00 | 0.00 | 2.87 |
D751207 | Grab | 0.04 | 3.30 | 0.01 | 12.65 | 0.01 | 2.85 |
D751109 | Grab | 1.65 | 86.36 | 0.10 | 0.01 | 0.03 | 2.73 |
D751962 | Grab | 0.55 | 86.59 | 0.26 | 1.17 | 1.98 | 2.65 |
D751968 | Grab | 1.49 | 58.18 | 0.01 | 1.68 | 0.13 | 2.55 |
D751153 | Grab | 0.83 | 82.95 | 0.38 | 0.08 | 1.16 | 2.52 |
D751213 | Float | 1.65 | 59.19 | 0.02 | 0.31 | 0.02 | 2.41 |
D751992 | Grab | 0.33 | 100.07 | 0.03 | 3.27 | 0.06 | 2.21 |
D750448 | Grab | 0.42 | 65.04 | 0.03 | 4.57 | 0.09 | 2.20 |
D750086 | Channel | 0.17 | 16.43 | 0.12 | 1.11 | 4.70 | 2.16 |
D751947 | Grab | 0.01 | 68.75 | 0.48 | 0.09 | 2.81 | 2.16 |
D750555 | Channel | 0.05 | 68.88 | 0.17 | 1.03 | 2.65 | 2.03 |
D751165 | Grab | 1.95 | 2.75 | 0.00 | 0.01 | 0.01 | 1.99 |
D750393 | Grab | 1.01 | 38.49 | 0.02 | 1.79 | 0.37 | 1.97 |
D750449 | Grab | 0.24 | 27.68 | 0.01 | 6.38 | 0.02 | 1.96 |
D751194 | Grab | 0.44 | 110.84 | 0.01 | 0.08 | 0.09 | 1.74 |
D750197 | Grab | 0.10 | 95.55 | 0.02 | 1.43 | 0.53 | 1.66 |
D750195 | Grab | 0.33 | 15.65 | 0.07 | 2.21 | 1.77 | 1.60 |
D750083 | Channel | 0.81 | 32.15 | 0.01 | 1.63 | 0.12 | 1.57 |
D751251 | Grab | 1.27 | 12.39 | 0.11 | 0.02 | 0.02 | 1.53 |
D750552 | Channel | 0.02 | 32.45 | 0.24 | 0.04 | 2.82 | 1.51 |
D751948 | Grab | 0.11 | 53.19 | 0.01 | 3.48 | 0.07 | 1.49 |
D751993 | Grab | 1.20 | 10.66 | 0.03 | 0.35 | 0.17 | 1.48 |
D751116 | Grab | 1.27 | 14.42 | 0.00 | 0.01 | 0.01 | 1.44 |
D750553 | Channel | 0.02 | 25.81 | 0.22 | 0.06 | 2.82 | 1.42 |
D751115 | Grab | 0.05 | 44.66 | 0.02 | 0.95 | 2.03 | 1.40 |
D750607 | Grab | 0.68 | 44.82 | 0.00 | 0.75 | 0.03 | 1.36 |
D751941 | Grab | 0.35 | 28.01 | 0.06 | 0.64 | 1.54 | 1.34 |
D750095 | Channel | 0.06 | 50.63 | 0.07 | 1.56 | 0.93 | 1.32 |
D750093 | Channel | 0.02 | 43.65 | 0.15 | 0.65 | 1.65 | 1.31 |
D751159 | Grab | 0.54 | 28.12 | 0.03 | 1.93 | 0.03 | 1.31 |
D751599 | Float | 0.05 | 71.52 | 0.02 | 1.54 | 0.23 | 1.27 |
D750091 | Channel | 0.02 | 52.72 | 0.13 | 0.07 | 1.40 | 1.18 |
D751193 | Grab | 0.44 | 20.10 | 0.48 | 0.01 | 0.01 | 1.17 |
D750087 | Channel | 0.14 | 36.37 | 0.00 | 1.49 | 0.91 | 1.15 |
D751945 | Grab | 0.02 | 29.84 | 0.08 | 1.53 | 1.17 | 1.13 |
D751835 | Chip | 0.12 | 24.61 | 0.05 | 1.76 | 0.75 | 1.05 |
The Big One property is situated in a region that is well known for hosting world-class precious metal and porphyry deposits, several of which occur near the property including the multiple porphyry systems at Galore Creek (12,159 million pounds of copper, 9.438 million ounces of gold, 174.086 million ounces of silver), the world’s largest known gold reserve at KSM (47.3 million ounces of gold, 160 million ounces of silver, 7.32 billion pounds of copper) and the polymetallic copper project at Shaft Creek (5 billion pounds of copper, 3.7 million ounces of gold, 16.4 million ounces of silver), as well as the Brucejack high-grade epithermal gold deposit (14 million ounces of gold, 91.8 million ounces of silver), and the structurally controlled high-grade hydrothermal gold-silver zones at Trophy and Sphal Creek. The property geology is favorable to host these types of deposits as confirmed by the presence of extensive areas of propylitic alteration, untested geophysical anomalies, strong silt, soil and rock geochemistry, including path finder elements directly related to porphyry systems, key structures and textures, porphyry-style mineralization, and high-grade polymetallic veins, that have been discovered within the Big One claims. Big One Property Map
The Big One property can be accessed year-round via helicopter from the Glenora/Telegraph Creek Road at the Barrington Mine (33 km to the north-northeast) and the Galore Creek Road (15 km to the southeast). The Canadian government committed $20 M to extend/improve the Galore Creek Road within 15 km of the Big One property. The property is only 2 km west of the Scud River airstrip used in the early days of Galore Creek.
The Big One property exploration qualifies for the Critical Mineral Exploration Tax Credit (CMETC).
About the B-ALL Syndicate
The B-ALL Syndicate is a highly specialized geologic team of project generators with a proven track record of success. The Syndicate is focused on unexplored areas of glacial and snowpack retreat, providing new opportunities for material discovery in world-class geologic terrain. The B-ALL Syndicate is on track with discovery as demonstrated with Big One and other properties generated by the J2 Syndicate that were subsequently optioned out resulting in the material Surebet discovery with Goliath Resources. The B-ALL Syndicate team consists of many of the same J2 Syndicate members who have played key roles from inception in the exploration teams for both Goliath Resources and Juggernaut Exploration and are responsible for multiple discoveries. Juggernaut Exploration has a significant interest in the B-ALL Syndicate.
Big One option
All payments are optional. Subject to receipt of all regulatory approvals, Juggernaut will commit to issuing 18,000,000 units on or before April 2nd, 2027; the units will have a 5-year warrant issued at market price on April 2nd, 2027, to earn 49%. Juggernaut can elect to pay an additional 18,000,000 units on or before April 2nd, 2033; the units will have a 5-year warrant issued at market price to earn 80% of the Bigone property. Juggernaut can earn an additional 20% interest in the Property (for a 100% interest ) by delivering to the B-All Syndicate, by April 2, 2034, a NI 43-101 technical report which includes an inferred resource calculation of gold equivalent mineral ounces of all minerals on the Property in the aggregate; within six months of the delivery of the NI 43-101 report pay to the B-All Syndicate USD $1 million plus USD $1 for every gold equivalent ounce outlined in the NI 43-101 technical report. Juggernaut will be required to produce an updated NI 43-101 technical report on the Property every thirty-six (36) months commencing April 2, 2034. Juggernaut will pay the B-All Syndicate a cash bonus of USD $1 for every additional gold equivalent ounce of gold in the inferred mineral resource category outlined by each NI 43-101 technical report produced on the Bigone Property. A royalty (“Royalty”) of 3% of net smelter returns (“NSR”) and other returns from all production from the Property will be payable to the B-All Syndicate, in cash or in-kind (i.e., gold and other Minerals produced from the Property) at the option of the B-All Syndicate. Juggernaut will have the right and option to reduce the Royalty on Juggernaut’s interest in the Property from 3% to 2.5% by paying US$1,500,000 to the B-All Syndicate not later than April 2, 2032.
About CASERM (Center To Advance The Science Of Exploration To Reclamation In Mining)
Juggernaut is a paying member and active supporter of CASERM, an organization that represents a collaborative venture between the Colorado School of Mines and Virginia Tech aimed at transforming the way that geoscience data is used in the mineral resource industry. Research focuses on the integration of diverse geoscience data to improve decision-making across the mine life cycle, beginning with the exploration for subsurface resources and continuing through mine operation as well as closure and environmental remediation.
Qualified Person
Tyler Punk, 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.
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 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
Other
Grab, channels, chip and talus samples were collected by foot with helicopter assistance. Prospective areas included, but were not limited to, proximity to MINFile locations, placer creek occurrences, regional soil anomalies, and potential gossans based on high-resolution satellite imagery. The rock grab and chip samples were extracted using a rock hammer, or hammer and chisel to expose fresh surfaces and to liberate a sample of anywhere between 0.5 to 5.0 kilograms. All sample sites were flagged with biodegradable flagging tape and marked with the sample number. All sample sites were recorded using hand-held GPS units (accuracy 3-10 meters) and sample ID, easting, northing, elevation, type of sample (outcrop, subcrop, float, talus, chip, grab, etc.) and a description of the rock were recorded on all-weather paper. Samples were then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples including blanks, standards, and duplicate samples were inserted regularly into the sample sequence at a rate of 10%.
All samples are transported in rice bags sealed with numbered security tags. A transport company takes them from the core shack to the Paragon Geochemical labs facilities in Surrey, BC or ALS labs facilities in North Vancouver, BC. Paragon Geochemical is certified with both AC89-IAS and ISO/IEC Standard 17025:2017. ALS is either certified to ISO 9001:2008 or accredited to ISO 17025:2005 in all of its locations. Samples submitted to Paragon received gold and silver analysis by photon assay whereby the entire sample is crushed to approximately 70% passing 2 mm mesh. The entire crushed sample is riffle split and weighed into multiple (300-500g) jars that are submitted for photon assay. Photon assay uses high-energy X-rays (photons) to excite atomic nuclei within the jarred samples, causing them to emit secondary gamma rays, which are measured to identify and quantify the metals present. The assays from all jars are combined on a weight-averaged basis. At ALS samples were processed, dried, crushed, and pulverized before analysis using the ME-MS61 and Au-SCR21 methods. For the ME-MS61 method, a prepared sample is digested with perchloric, nitric, hydrofluoric, and hydrochloric acids. The residue is topped up with dilute hydrochloric acid and analyzed by inductively coupled plasma atomic emission spectrometry. Overlimits were re-analyzed using the ME-OG62 and Ag-GRA21 methods (gravimetric finish). For Au-SCR21 a large volume of sample is needed (typically 1-3kg). The sample is crushed and screened (usually to -106 micron) to separate coarse gold particles from fine material. After screening, two aliquots of the fine fraction are analysed using the traditional fire assay method. The fine fraction is expected to be reasonably homogenous and well represented by the duplicate analyses. The entire coarse fraction is assayed to determine the contribution of the coarse gold.
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FORWARD LOOKING STATEMENT
Certain disclosure 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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The Conversation (0)
10 June
Juggernaut Exploration
Investor Insight
Juggernaut Exploration is an early-stage explorer and project generator with a compelling investment story, focused on unlocking high-grade precious and base metal discoveries in the prolific Golden Triangle of northwestern British Columbia.
Overview
Juggernaut Exploration(TSXV:JUGR,OTCQB:JUGRF,FSE:4JE) is a precious metals explorer focused on northwestern British Columbia’s Golden Triangle, a globally recognized district for world-class porphyry, VMS and high-grade gold systems. The company operates in a geopolitically stable jurisdiction with excellent infrastructure, adjacent to Newmont’s Galore Creek project and in proximity to major road and airstrip developments.
The company controls three 100 percent owned projects – Big One, Midas and Bingo – totaling nearly 60,000 hectares in the heart of British Columbia’s most prolific mineral belt.
The company’s current strategy focuses on aggressive exploration at its flagship Big One project, where the rapid abatement of glacial cover led to the discovery of over 200 mineralized veins in a matter of days. The scale of the system, coupled with strong geophysical and geochemical signatures, points to a significant buried porphyry system.
Backed by world-renowned geologist Dr. Quinton Hennigh, Juggernaut is founded by the team behind Goliath Resources, which returned 2,400 percent to early investors in just 20 months.
Company Highlights
- The Big One property has uncovered an 11-km gold-rich porphyry system, described as a “highway of gold,” adjacent to Newmont’s $100 billion Galore Creek project.
- Founded by the team behind Goliath Resources, which returned 2,400 percent to early investors in just 20 months. Juggernaut is supported by world-renowned geologist Dr. Quinton Hennigh.
- Crescat Capital is a cornerstone investor, holding a 19.99 percent stake and providing both financial and technical backing.
- The company controls three 100 percent owned projects – Big One, Midas and Bingo – totaling nearly 60,000 hectares in the heart of the Golden Triangle in British Columbia.
- With $11.5 million recently raised, the 2025 field season is fully funded. The upcoming campaign aims to scale and define the scope of the porphyry system discovered in just five days of boots-on-the-ground work.
- Over 70 percent of the company’s shares are held by management, insiders and accredited investors. The company is debt-free.
Key Projects
Big One
The Big One project is Juggernaut’s flagship asset and the focus of its 2025 exploration campaign. Located in the heart of British Columbia’s Golden Triangle, the property spans 36,989 hectares of world-class geological terrain, 95 percent of which remains unexplored.
The project benefits from rapid glacial and snowpack abatement, which has recently exposed a vast mineralized system previously hidden under ice. This includes the newly identified Eldorado porphyry system, a high-grade, multi-kilometer corridor with grades reaching up to 79.01 grams per ton (g/t) gold and 3,157 g/t silver. More than 200 quartz-sulphide veins, containing semi-massive to massive chalcopyrite, sphalerite and galena, have been identified within a 4 km x 1 km alteration footprint, with coincident geophysical anomalies suggesting the presence of a large, buried mineralizing system at depth.
Drill-ready targets include the Whopper Vein (16.04 g/t gold equivalent over 8 meters, >200 m strike length) and the Big Mac Vein (41.46 g/t gold equivalent over 4 m), both of which are planned for drill testing in 2025.
The Big One project qualifies for the Critical Mineral Exploration Tax Credit and is strategically located adjacent to key infrastructure, including the Scud airstrip and a new $45 million government-funded road within 12 km of the site.
Midas
The Midas property covers 20,803 hectares in a geologically favorable setting for volcanogenic massive sulphide (VHMS) deposits, particularly those resembling the high-grade Eskay Creek system. Drilling at the Kokomo zone has intercepted significant VHMS-style mineralization, including standout results such as 8.27 g/t gold equivalent over 11.03 meters (MD-24-47) and 6.85 g/t gold over 9 meters (MD-18-08). The mineralized zone remains open to the north, and the company plans to step out aggressively with additional drilling.
Midas is considered a strong near-term value generator with potential for scale through further discovery.
Bingo
The Bingo property, although smaller in footprint at 1,008 hectares, is located in a structurally favorable setting for shear-hosted gold systems. The project features a 700-meter x 400-meter mineralized zone characterized by consistent sulphide mineralization. Sampling has confirmed an average mineralized width of 7 meters with grades averaging 5.67 g/t gold equivalent. The presence of strong K-spar alteration in the northeast quadrant of the property suggests proximity to a porphyry feeder system, making Bingo a compelling target for both high-grade, shear-hosted and porphyry-style exploration.
Management Team
Dan Stuart – President, CEO & Director
Dan Stuart has over 30 years of experience in capital markets, having raised more than $500 million for natural resource companies. He is a founding member and financier of several private mineral syndicates, including the J2 Syndicate behind Goliath Resources. Stuart is known for his investor acumen and has established strong institutional relationships in North America, Europe, Asia and the Middle East. Under his leadership, Juggernaut secured cornerstone funding from Crescat Capital and Dr. Quinton Hennigh while simultaneously building a platform for rapid discovery-driven growth.
Jim McCrea – Director
Jim McCrea brings 25 years of exploration and resource estimation experience. Notably, he worked on orebody modeling and resource estimation at Cumberland Resources, which was acquired by Agnico Eagle for $710 million. His deep expertise in geology and modeling helps guide exploration targeting and resource development.
William Jung – Director & CFO
A former chartered accountant with over 35 years of experience in finance, William Jung has managed several publicly listed companies on the TSX. His oversight ensures financial discipline, compliance and strategic capital allocation.
Peter Bryant – Director
Peter Bryant is a seasoned international investment banker with 45 years of experience, including senior roles at Standard Chartered Group, Hill Samuel Group and Guinness Mahon Holdings in London. His presence brings strong governance and capital markets insights to the board.
Chris Verrico – Director
Chris Verrico has over two decades of experience managing mineral exploration and infrastructure projects in remote northern regions, including British Columbia, Yukon and Nunavut. His knowledge of field operations and community engagement is critical to project execution.
Bill Chornobay – Program Manager
Bill Chornobay has over 30 years of experience in mineral exploration and has been directly involved in discoveries resulting in more than $1 billion in value. He played a pivotal role in the Surebet discovery for Goliath Resources and now leads on-ground execution at Juggernaut.
Dr. Quinton Hennigh – Technical Advisor
A globally respected exploration geologist, Dr. Quinton Hennigh has over 30 years of experience with major mining companies, including Homestake, Newcrest and Newmont. He is currently the chairman of Novo Resources and serves as a technical advisor to Crescat Capital. His guidance has helped validate and shape the exploration strategy at Juggernaut.
Dr. Manuele Lazzarotto – Senior Consulting Geologist
Dr. Manuele Lazzarotto has eight years of experience advancing early-stage exploration projects into defined resources, particularly in VMS and gold systems. He played a critical technical role in the Surebet discovery and brings valuable geological and structural insight to Juggernaut’s targeting approach.
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Advancing high-grade precious metals assets in northern BC’s Golden Triangle
4h
Gold Price, Markets Trade Flat After US Strikes on Iran
An escalating conflict between Israel and Iran drew military inolvement from the US over the weekend, marking a significant ratcheting up of tensions in the region.
On Saturday (June 21), US B-2 bombers flying out of Whiteman Air Base and a US submarine stationed in an undisclosed location launched strikes against three sites in Iran. The targets were Iranian nuclear facilities at Fordo, Natanz and Isfahan that the US alleges were being used to enrich uranium to create a nuclear bomb.
Both Israel and the US have been adamant that Iran should not be allowed to have nuclear weapons.
The attacks mark the first time the US has used its 30,000 pound Massive Ordnance Penetrator in a combat role.
Prior to the strikes, the US had been working for several months to create a new nuclear deal with Iran.
President Donald Trump had given a deadline for the end of May, and had previously stated that if the Iranian regime did not give up its nuclear ambitions in that timeline, there would be “all hell to pay.”
Iran has retaliated against US bases in the Middle East, with US defense officials confirming an attack at the Al Udeid Air Base in Qatar on Monday (June 23). The base is the headquarters for US Central Command in the region.
In 2020, Iran carried out a similar retaliatory attack against a US base in Iraq following the assassination of Qasem Soleimani, who was head of the Quds Force, a special operations unit of the Islamic Revolutionary Guard.
The US received a warning prior to that attack, and no personnel were killed. The parties used the incident to de-escalate tensions in the region. It’s unclear whether this latest strike by Iran was intended to produce the same results.
Iran is currently considering blocking the Strait of Hormuz, a crucial shipping route for traffic in and out of the Persian Gulf. On Monday, the country's parliament approved a motion to close the strait; however, implementation would require approval from Iran's national security council, and experts suggest such a move would hurt more than help Iran.
If approved, the closure could send ripples through global oil markets, with some analysts predicting Brent crude could surge to over US$110 per barrel. A prolonged closure could also exert significant inflationary pressures.
Commodities and markets stay calm
Market reactions to the weekend's attacks have largely been muted.
Brent crude was down 6.5 percent by 3:00 p.m. EDT on Monday, trading at US$70.68. The gold price put on a relatively flat performance, breaching US$3,390 per ounce, but pulling back to the US$3,370 level.
The silver price was also unchanged, gaining just 0.07 percent to US$36.31 per ounce.
Gold price, June 23, 2025.
Chart via the Investing News Network.
US equities saw moderate gains, with the S&P 500 (INDEXSP:INX) climbing 0.8 percent to 6,014.6, the Nasdaq-100 (INDEXNASDAQ:NDX) rising 0.88 percent to 21,817.35 and the Dow Jones Industrial Average (INDEXDJX:.DJI) gaining 0.75 percent to 42,519.63.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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5h
Utah’s Antimony Resource: A Strategic Investment Play in Critical Minerals
Utah may be best known for its copper and gold legacy, but hidden beneath its rugged terrain lies one of the most overlooked critical mineral opportunities in the US: antimony.
With global supply heavily concentrated in China and export restrictions tightening, Utah’s underexplored antimony deposits are gaining new relevance. For investors, this presents a timely and potentially undervalued opportunity to get ahead of a domestic supply chain revival, with early movers leading the way.
Once home to scattered historic antimony production, Utah is now re-emerging as a strategic hotspot for this essential element.
Growing demand for antimony
Antimony is increasingly recognized as a mineral of strategic importance due to its broad industrial and defense applications. Used in flame retardants, semiconductors, lead-acid batteries, military-grade alloys and solar energy systems, it plays a vital role in modern manufacturing and national security.
The US government lists antimony as a critical mineral, emphasizing the risk posed by concentrated foreign supply. Notably, China currently controls 83 percent of global production and 55 percent of reserves.
The geopolitical implications are significant. China has imposed export bans on antimony in recent years, raising alarm over Western access and increasing pressure on governments and industries to secure domestic sources. Growing demand, driven in part by renewable energy and military applications, underscores the urgency of diversifying supply.
Utah: A re-emerging antimony source
Utah is globally known and well-established as a mining-friendly jurisdiction, with a history that dates back to the 19th-century silver and copper booms. Today, it remains a top-tier destination for mineral investment providing an ideal blend of regulatory clarity, skilled workforce and robust infrastructure — including highways, rail and energy networks.
The Utah Geological Survey has identified critical minerals as a top exploration priority, encouraging public-private collaboration and supporting legislative initiatives to streamline permitting processes and promote investment.
This pro-mining posture is timely, as the global push for critical mineral security has spurred renewed interest in Utah’s subsurface wealth — such as antimony, which has been documented in the state since the early 1900s.
Geologically, Utah sits at the convergence of highly prospective belts that stretch across eastern Nevada and western Utah. These belts are known for polymetallic mineral systems, including antimony associated with gold, silver and tungsten. Historic antimony production and showings have been identified in several regions, including Antimony Peak, Coyote Knoll, Beaver County, Thomas Range and Wah Wah Mountains.
Current projects advancing Utah’s antimony potential
Multiple exploration and early-stage development efforts are underway in and around Utah, reflecting growing recognition of the state’s antimony potential. Among these, Trigg Minerals’ (ASX:TMG,OTCQB:TMGLF) Antimony Canyon project stands out for its high-grade resource and potential to become a near-term domestic producer.
United States Antimony (NYSEAMERICAN:UAMY) is working to revive legacy production through its Bear River mill operations in southern Idaho, which historically sourced ore from Utah and surrounding districts. This project underscores the infrastructure advantage and historic production potential still present in the region.
Meanwhile, Perpetua Resources (TSX:PPTA,NASDAQ:PPTA) is advancing its Stibnite gold project in neighboring Idaho, notable for its large, integrated antimony-gold resource. Although geographically outside Utah, the project has spotlighted the strategic co-production of antimony in the broader Intermountain West.
Closer to home, historical antimony-rich areas such as Coyote Knoll and Antimony Peak in Utah continue to attract interest from juniors aiming to validate and expand on legacy mineralization through modern exploration. These projects, though in earlier stages, point to a pipeline of potential that complements advanced projects and reinforces the state’s growing role in the domestic antimony supply chain.
Investment case: Trigg Minerals
Trigg Minerals is a critical minerals exploration company strategically focused on high-grade antimony and gold assets. Known for its advanced portfolio in New South Wales, Australia — including the flagship Achilles Project — Trigg has expanded its footprint into the US with the acquisition of the Antimony Canyon project in Utah.
This move marks a significant strategic shift that positions the company to play a central role in the revitalization of domestic antimony production.
The Antimony Canyon project is regarded as one of the most prospective antimony assets in the US. Early data suggest it could host the highest-grade undeveloped antimony deposit in the country, giving Trigg a potential first-mover advantage in a market where the US has had no primary production in over two decades. Located in western Utah, the project benefits from proximity to existing transport corridors and infrastructure, enhancing the potential for a streamlined development pathway. This logistical advantage complements the state’s mining-friendly regulatory framework, which includes expedited permitting processes and potential eligibility for federal support under critical minerals programs.
Geologically, Antimony Canyon shares characteristics with Trigg’s Achilles Project, where the Wild Cattle Creek deposit in Australia has demonstrated a mineralized breccia system enriched in antimony, gold and tungsten. Trigg brings significant technical expertise from these analogous systems, which it can leverage in Utah to accelerate exploration and de-risk development. The company’s broader strategy is to establish a portfolio of scalable, high-grade antimony projects that can supply Western markets as geopolitical pressures continue to disrupt existing supply chains.
For investors, Trigg Minerals offers exposure to a scarce and strategically vital commodity, underpinned by high-grade geology, jurisdictional strength, and a clear path to becoming a near-term domestic supplier.
As the antimony market experiences supply shocks and pricing pressure due to Chinese export restrictions, Trigg’s entry into the US sector represents a compelling opportunity to invest in one of the few publicly traded companies poised to deliver critical mineral security in a North American context.
Investor takeaway
Utah offers a rare but essential combination of critical mineral prospectivity, supportive policy and infrastructure availability. In the current geopolitical climate, projects that can deliver reliable, domestic supplies of critical minerals — particularly those underpinned by strong grades and early exploration success — stand to benefit from government incentives and investor interest.
Investments in Utah-based antimony projects are further de-risked by transparent permitting processes, opportunities for federal funding, and a growing demand for local, ESG-compliant supply chains.
As such, early movers like Trigg Minerals are well-positioned to unlock long-term value for shareholders by capitalizing on the national push for critical mineral independence.
This INNSpired article is sponsored by Trigg Minerals (ASX:TMG,OTCQB:TMGLF). This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by Trigg Mineralsin order to help investors learn more about the company. Trigg Minerals is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Trigg Minerals and seek advice from a qualified investment advisor.
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5h
Utah Asset Acquisition Marks Triumph Gold’s Entry into US Silver Space: Exec
Triumph Gold’s (TSXV:TIG) acquisition of the Coyote Knoll property in Utah marks the company’s entry into the silver space, in an area that's “geopolitically and geographically and geologically fantastic,” Executive Chairman John Anderson told the Investing News Network.
Anderson said while Triumph Gold’s main asset is the Freegold Mountain gold-copper project in Yukon, Canada, “the real interest was in the US.”
“We've been looking at projects in the silver space for quite some time,” he explained. “There's very little investor interest in Canada for resource companies, believe it or not. The capital of mining exploration and venture capital is Canada, but for some reason there's just not a lot of interest.”
The Triumph Gold executive also noted that it makes sense to have a project in the US since most of the company's trading volume comes from the US.
“It's also the ability to get things done and permitted, especially in the state of Utah, which the Fraser Institute just named the number one place in North America for mining and mining exploration. This, again, checked all the boxes, and we can work 12 months a year there. We're not subject to seasonality, which we are in BC and the Yukon,” Anderson said.
While the Coyote Knoll project has historically been mined, it remains underexplored using modern technologies, which offers significant exploration potential, Anderson added.
Watch the full interview with Triumph Gold CEO John Anderson above.
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9h
FinEx Metals
Investor Insight
With a disciplined exploration strategy and a high-grade discovery focus, FinEx Metals is poised to become one of the most compelling new gold exploration companies in Europe. The company is led by a technically experienced and locally embedded team, backed by a tight share structure and strategic investor alignment.
Overview
FinEx Metals (TSXV:FINX) is an exploration-stage company focused on discovering Finland’s next high-grade gold deposit. Backed by NewQuest Capital Group, FinEx is strategically positioned near Europe’s largest gold mine, the Agnico Eagle’s Kittilä Mine, and sits within one of the most prospective but underexplored terrains globally – the Central Lapland Greenstone Belt.
FinEx has defined a 2.7-kilometer-long anomalous gold zone through a combination of trenching, rock sampling, and top-of-bedrock (ToB) drilling. The ToB campaign yielded 29 samples with assays ranging from 0.1 to 4.2 grams per ton (g/t) gold and revealed broad pathfinder anomalies in tellurium, bismuth, silver and arsenic, highlighting a robust geochemical footprint consistent with orogenic gold systems.
Additionally, 263 grab samples were collected from trench exposures, 52 of which returned values above 1 g/t gold, including 19 samples exceeding 10 g/t gold. The highest grade recorded to date is 95.1 g/t gold from a quartz-carbonate vein system, located within a zone extending over 250 meters. Ruoppa is fully permitted and drill-ready, with the maiden core drilling campaign scheduled to begin in August 2025. With an experienced local team, high-grade mineralization and proximity to active operations, FinEx offers a unique opportunity to invest in an early-stage gold explorer positioned for rapid value creation.
Company Highlights
- High-grade Gold Focus in a Tier-one Address: Flagship Ruoppa project lies within 17 km of Agnico Eagle’s Kittilä Mine, the largest gold-producing mine in Europe.
- Large, 100 percent Owned Land Package: FinEx controls a 100 percent owned, royalty-free portfolio of projects across the Central and Eastern Lapland greenstone belts.
- Drill-ready Flagship Asset: The Ruoppa project is fully permitted and will commence its maiden diamond drill program in Q3 2025.
- Exceptional Gold Grades: Rock grab samples from Ruoppa returned up to 95.1 g/t gold, with 52 samples over 1 g/t gold and 19 samples exceeding 10 g/t gold.
- Strong Local Technical Team: Deep exploration experience in Finland with former Agnico Eagle, FQM and Anglo-American personnel leading geological efforts.
Flagship Project
Ruoppa Gold Project
The Ruoppa project is FinEx Metals’ flagship exploration asset, situated approximately 17 kilometers from Agnico Eagle’s Kittilä Mine, the largest primary gold producer in Europe. Located within Finland’s Central Lapland Greenstone Belt (CLGB), Ruoppa lies on the same structural and geological trend that hosts other major gold systems like Rupert Resources’ Ikkari discovery. The project is fully permitted and drill-ready, with a maiden diamond drill program scheduled to commence in Q3 2025.
The anomalous gold zone identified at Ruoppa extends over 2.7 kilometers and remains open in all directions. Ten trenches totaling 641 meters have been excavated across the highest-priority geophysical and geochemical anomalies, confirming both the lateral continuity and high-grade potential of the gold-bearing structures. This robust dataset has defined a compelling sulphide-rich gold target at depth, which will be tested during the upcoming diamond drill program.
Notably, the project will see its first-ever diamond drilling in Q3 2025. Ruoppa benefits from excellent access to infrastructure, including all-season roads, grid power and 5G connectivity.
Over the past four years, FinEx has conducted extensive early-stage exploration, including ToB drilling, trenching and rock sampling. A total of 263 rock grab samples have been collected from trench exposures, with 52 samples returning assays greater than 1 g/t gold and 19 samples exceeding 10 g/t gold. The highest recorded sample yielded 95.1 g/t gold, hosted in quartz-carbonate vein systems. ToB drilling, an efficient shallow drilling method ideal for glacially covered terrains, revealed additional gold potential with assays up to 4.2 g/t gold and strong pathfinder element anomalies in tellurium, bismuth, silver and arsenic.
Additional Projects
Luova Gold Project
The Luova project is located within the thickest core portion of the CLGB, less than 10 kilometers from the Kittilä Mine and adjacent to key exploration prospects such as Hanhimaa and Hakokodanmaa. This underexplored project shows all the hallmarks of a classic orogenic gold system, including thick sequences of Fe-tholeiitic basalts, large-scale shear zones acting as fluid conduits, and favorable trap rocks such as graphitic tuffs and banded iron formations.
Historical base-of-till sampling conducted by Outokumpu and Agnico Eagle revealed anomalous gold and copper values, including results up to 0.38 g/t gold and 0.49 percent copper. Despite these encouraging results, the Luova project remains undrilled, representing a significant near-surface gold discovery opportunity. Ionic leach soil samples and detailed magnetic surveys are planned to refine drill targets, with a focus on zones where interpreted thrust faults intersect favorable host rocks.
Kero Gold Project
The Kero project, explored in the early 2000s by the Geological Survey of Finland (GTK), is another advanced gold target in FinEx’s portfolio. GTK completed an extensive dataset that includes 7.7 kilometers of diamond drilling, trenching, bedrock mapping and multiple geophysical surveys (including IP, VLF-R and ground magnetics). Historic drill intercepts at Kero include 1.05 meters at 12.6 g/t gold and 3.3 meters at 2.3 g/t gold, while surface grab samples returned up to 25.6 g/t gold from carbonate-sulphide veins.
The gold mineralization is associated with hydrothermal alteration and complex structural settings, including fold hinges and lithological contacts. A 1.2-kilometer-long gold anomaly has been defined, and the structural complexity – characterized by multiple deformation orientations – indicates strong potential for structurally controlled high-grade zones. Kero is accessible year-round via gravel roads and is a strong candidate for follow-up trenching and re-logging of the historical core.
Tulppio Ni-PGE Project
Located in the Eastern Lapland Granite-Greenstone Belt, the Tulppio project represents FinEx’s entry into critical mineral exploration, specifically targeting nickel sulphides and platinum group elements (PGE). The project is positioned adjacent to the Sokli project, a world-class phosphate, iron and REE deposit operated by Finnish Minerals Group. Tulppio contains a large (5 km x 2 km) ultramafic intrusive complex, with a gravity signature suggesting the body extends to 2 kilometers in depth.
Historic shallow drilling (less than 100 meters depth) has already intercepted 3 meters at 1.12 g/t platinum+palladium and 0.49 percent nickel (including 1.5 meters at 1.54 g/t platinum+palladium), and 24 meters at 0.33 percent nickel with sulfur content up to 4,600 ppm. Ionic leach soil sampling across the project has identified multiple significant nickel-cobalt-copper-palladium-gold anomalies, underscoring the project’s polymetallic potential. According to the Geological Survey of Finland (2010), Tulppio’s PGE and nickel potential should be factored into future development of the Sokli region.
Ukko Gold-Copper Project
The Ukko project targets orogenic and potentially metamorphosed epithermal gold systems in an Archean greenstone setting. The geology comprises komatiites, mafic volcanics, massive sulphide lenses and mica schists – favorable hosts for both gold and base metal mineralization. Historical drilling by Outokumpu in 1985 intersected 2.05 meters at 2.25 g/t gold. Recent soil sampling has revealed a new gold-copper anomaly in the southeastern portion of the property, coinciding with high magnetic and conductive geophysical zones. Further geochemical and IP surveys are planned to constrain the structure and assess the potential for deeper epithermal or orogenic systems.
Management Team
Tero Kosonen – Chairman and CEO
A seasoned venture capitalist and natural resources investor, Tero Kosonen brings more than 30 years of experience in private equity and management. As co-founder of NewQuest Capital, he has led numerous early-stage ventures across energy and mining. He provides strategic leadership and capital markets expertise to FinEx.
Dr. Petri Peltonen – Chief Geologist
A globally respected exploration geologist with over 30 years of experience in gold, nickel and iron ore exploration, Dr. Petri Peltonen is the former exploration manager – Europe for FQM. He is an Associated Professor at the University of Helsinki. Peltonen ensures technical rigour and exploration success at FinEx.
Sandra Wong – CFO
With over 20 years in financial leadership roles across publicly listed companies, Sandra Wong brings deep experience in accounting, compliance and governance – critical for a newly listed entity with aggressive exploration goals.
Eetu Jokela – Project Manager
A local geologist with direct exploration experience with Agnico Eagle, Eetu Jokela is responsible for day-to-day field operations and geological planning, combining practical know-how with deep regional knowledge.
Olli Silvonen – Exploration Geologist
Experienced in regional greenfields exploration, Olli Silvonen supports mapping, sampling and trenching programs with a strong focus on gold and nickel-copper-PGE systems within the CLGB.
Jukka Jokela – Senior Advisor
The former CEO of Anglo American Sakatti Mining, Jukka Jokela offers more than 35 years of exploration and ESG leadership in the Nordic region, adding valuable permitting and stakeholder engagement capacity.
Dr. Pasi Eilu – Senior Advisor
With 40 years in academic and field exploration, Dr. Pasi Eilu is a recognized expert on greenstone-hosted gold and critical minerals in Finland. His work has shaped much of the geological understanding in Lapland.
Phil Smerchanski – Senior Technical Advisor
Phil Smerchanski brings more than two decades of experience in nickel and gold systems. A former senior technical lead at Oxygen Capital and Anglo American, he provides technical guidance across project pipeline development.
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19 June
Jeffrey Christian: Gold, Silver, PGMs — Short-term Prices and Key Drivers
Jeffrey Christian, managing partner at CPM Group, shares his latest thoughts on gold, silver and platinum-group metals, outlining potential price scenarios for the months ahead.
He also discusses his broader outlook for the US economy.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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19 June
Mali Court Seizes Control of Barrick Gold Mine Amid Escalating Dispute
A court in Bamako has ordered the temporary transfer of operational control of Barrick Mining's (TSX:ABX,NYSE:B) Loulo-Gounkoto gold-mining complex to a state-appointed administrator for six months.
The ruling, handed down on Tuesday (June 17) by the Tribunal de Commerce, empowers former health minister and certified accountant Soumana Makadji to run one of Barrick’s most lucrative global assets.
The company has described the move as “unjustified” and “unprecedented.”
According to Judge Issa Aguibou Diallo, the ruling was made under Article 160-1 of the OHADA corporate law framework, which allows a court to appoint a provisional administrator when the regular functioning of a company becomes impossible. The administrator, Makadji, is tasked with reopening the mine site, participating in negotiations with Barrick and reporting to the court on a quarterly basis — though not to the government.
Makadji is seen in Bamako as a technocrat with strong ethical credentials. His appointment is intended to stabilize operations at Loulo-Gounkoto, which Barrick suspended in January 2024 after the Malian government physically removed unsold gold from the mine and froze the company's ability to export.
Despite the administrative change, Barrick maintains that its subsidiaries remain the legal owners of the mine.
In a statement released on Monday (June 16), the company emphasized that its “ongoing efforts to reach a constructive and sustainable resolution” have been met with escalatory actions by the state.
“While the company has made a number of good-faith concessions in the spirit of partnership, it cannot accept terms that would compromise the legal integrity or long-term viability of the operations,” Barrick said.
Arbitration and legal fallout
Barrick has already launched international arbitration proceedings at the World Bank’s International Center for Settlement of Investment Disputes, as per a May 29 Reuters article.
The company has asked the tribunal to declare that its Malian subsidiaries are protected under longstanding mining conventions, which it argues are not subject to retroactive legislative changes. Mali, however, contends that the convention covering Loulo expired in April 2023, subjecting it to the updated mining code.
The arbitration tribunal has now been formally constituted, and Barrick has filed a request for provisional measures to prevent Mali from further intervening until the dispute is resolved.
A disputed settlement
In February 2024, a tentative settlement appeared close. According to Jeune Afrique, Barrick had agreed in principle to pay 225 billion West African CFA francs (roughly US$396 million) in instalments, recognize the new 2023 mining code and convert Mali’s 20 percent equity stake in Loulo-Gounkoto into “priority shares.”
The government would in turn release the seized gold and free the detained executives.
But the deal collapsed. A Malian negotiator later claimed Barrick had signed the “wrong” agreement and warned the government had “the right to take control of the mines” if the company failed to resume operations.
The ruling junta, led by Colonel Assimi Goïta, has made resource nationalism a hallmark of its post-coup economic strategy. Since coming to power in 2020, the military-led regime has shown a willingness to pressure foreign firms to comply with state priorities, especially in strategic sectors like mining.
The Loulo-Gounkoto dispute is now emblematic of the wider uncertainty surrounding foreign investment in Mali, a country where gold accounts for over 70 percent of export earnings.
Future implications
Loulo-Gounkoto is a cornerstone of Barrick’s global portfolio.
In 2023, the complex produced 723,000 ounces of gold, second only to Barrick’s Carlin mine in Nevada. It boasts remaining reserves of 7.3 million ounces, making it one of the largest high-grade gold systems in the world.
The financial implications of the shutdown are significant. Analysts warned in December that continued disruptions at the site could cut 11 percent from Barrick’s projected 2025 EBITDA.
Morningstar had earlier projected that Loulo-Gounkoto would contribute 250,000 ounces to Barrick’s output this year — an estimate now scrapped from the company’s 2025 guidance.
Further complicating matters, the permit for the Loulo section of the complex is set to expire in February 2025, just weeks after the six month provisional administration period ends. Barrick said it applied for a renewal four months ago, but has received no response from the government. The Gounkoto permit remains valid for another 17 years.
Barrick has said it remains committed to reaching a “mutually acceptable solution” and has appealed the court’s decision. But with no public comment from the Malian government and the provisional administrator now in place, a quick resolution appears unlikely.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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