Rackla Metals Inc. Stakes New Ground in Tungsten District, Northwest Territories
Vancouver, July 5, 2023 - Rackla Metals Inc. (TSX-V:RAK) (the "Company") is pleased to announce its recent staking of mineral claims in the Tungsten District of the Tombstone Gold Belt, encompassing approximately 10,000 hectares on two claim blocks. The Company has identified a large area as prospective for Reduced-intrusion Related Gold Systems deposits in the vicinity of the Cantung Mine. Rackla has commenced the permitting process to explore the properties from a road-accessible base of operations on the Flat River. An initial program of ground proofing with geological mapping and prospecting, stream sediment sampling, and geophysical surveys will assess the full potential of these mineral claims.
Rackla Metals' CEO, Simon Ridgway, expressed his enthusiasm for these new target areas, stating, "The review of previous work in the area of the Tungsten properties indicate again that the intrusive stocks in this region of the Tombstone Gold Belt have the potential to host Reduced-intrusion Related Gold Systems (RiRGS). Historical mapping and sampling have identified a number of areas that warrant investigation. We are confident in the untapped potential of this district and believe that our comprehensive exploration program will generate some significant gold prospects."
As Rackla Metals continues permitting and planning an exploration program on the new claims, it will proceed with the extensive program on the Astro Plutonic complex where drilling is projected to start on July 5th (see news release June 29, 2023). The Company remains dedicated to advancing its existing targets in the eastern Yukon and western Northwest Territories.
Qualified Person
Scott Casselman, B.Sc., P.Geo., Vice-President Exploration of the Company, is a member of the Association of Professional Engineers and Geoscientists of British Columbia and is the Company's Qualified Person as defined by National Instrument 43-101. Mr. Casselman has reviewed and approved the technical information contained in this news release.
About Rackla
Rackla Metals Inc. (TSX-V: RAK) is a Vancouver, Canada based junior gold exploration company. The Company is targeting RiRGS (Reduced-intrusion Related Gold System) mineralization on the southeastern part of the Tombstone Gold Belt in eastern Yukon and western Northwest Territories. Management believes that this area, which is underexplored for RiRGS deposit types, has the potential to be the next frontier for their discovery.
ON BEHALF OF THE BOARD
Simon Ridgway,
CEO and Director
Tel: (604) 801-5432; Fax: (604) 662-8829
Email: info@goldgroup.com
Website: www.racklametals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.
Forward-Looking Information
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward- looking statements and include, without limitation, statements about the Company's proposed exploration activities. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Company's stated goals and planned exploration activities at its properties will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.