In a June 4 Junion Exploration Report, analyst Mick Carew indicated that Haywood Securities Inc. added Juggernaut Exploration Ltd. (JUGR:TSX.V) to its Watch List, which means, for one, it is expected to announce news during Q3/18.
As for the latest developments, Juggernaut just began a CA$3.5 million 2018 exploration program at its 100%-controlled Midas and Empire projects located south of British Columbia's Golden Triangle. Geochemistry, mapping and sampling will be done, followed by drilling of several targets to help the company prioritize them for additional work.
Subsequent to that, the explorer will drill the northwest trending King Solomon gold zone at Midas, which is "of particular interest" and where a 2.1 by 1.6 kilometer area of volcanogenic massive sulphide polymetallic and gold mineralization has been identified, Carew wrote.
The Empire property spans 16,400 hectares and "comprises several targets," Carew described. Area infrastructure includes logging tracks for access, power that is 8 kilometers away, roads and rail. Highlight assays from rock chip and channel sampling in 2017 at the Rockstar zone included 6.02 meters (6.02m) grading 1.53 grams per ton (1.53 g/t) gold, 1.38% copper, 0.23% zinc and 0.13% lead. One rock chip sample returned 21.7 g/t gold, 0.94% copper, 3.42% zinc and 11.55% lead.
The Midas property, which covers 16,653 hectares, has nearby infrastructure and "is defined by an 18 by 10 kilometer alteration zone of oxidation and quartz-sericite-pyrite alteration," Carew indicated. Rock chip and channel sampling elicited high-grade gold mineralization, including 4.34m grading 10.28 g/t gold.
Both Midas and Empire are under option agreements with the DSM Syndicate in which Juggernaut has a 20% interest. Per the agreements, Juggernaut must pay, through cash, shares and warrants, CA$13.35 million per project over five years.
The company also just closed a private placement of CA$2.74 million, which boosted its cash balance to CA$3.5 million. The company has no debt.
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Disclosures from Haywood Securities, Junior Exploration Report, June 4, 2018
Haywood Securities, or certain of its affiliated companies, may from time to time receive a portion of commissions or other fees derived from the trading or financings conducted by other affiliated companies in the covered security. Haywood analysts are salaried employees who may receive a performance bonus that may be derived, in part, from corporate finance income.
Haywood Securities, Inc., and Haywood Securities (USA) Inc. do have officers in common however, none of those common officers affect or control the ratings given a specific issuer or which issuer will be the subject of Research coverage. In addition, the firm does maintain and enforce written policies and procedures reasonably designed to prevent influence on the activities of affiliated analysts.
Analyst Certification: We, Mick Carew, Geordie Mark, Pierre Vaillancourt, and Kerry Smith, hereby certify that the views expressed in this report (which includes the rating assigned to the issuer’s shares as well as the analytical substance and tone of the report) accurately reflect my/our personal views about the subject securities and the issuer. No part of my/our compensation was, is, or will be directly or indirectly related to the specific recommendations.
Important Disclosures
The following Important Disclosures apply for Juggernaut Exploration:
▪ Haywood Securities, Inc. has reviewed lead projects of this company and a portion of the expenses for this travel have been reimbursed by the issuer.
Other material conflict of interest of the research analyst of which the research analyst or Haywood Securities Inc. knows or has reason to know at the time of publication or at the time of public appearance: n/a.
