Rackla Metals - Drilling Starting Up At A New Gold Discovery in the NWT, Grad Project
In this KE Report company update, Simon Ridgeway, Founder and CEO of Rackla Metals (TSX.V:RAK - FSE:RLH1), provides a full overview of the company’s newest exploration focus: the Grad Property in the Northwest Territories.
Following a grassroots discovery in 2024, Rackla is now mobilizing for a 4,000–5,000 meter drill program targeting what may be a large-scale, intrusive-related gold system within the Tombstone Gold Belt. Drilling is set to begin in early July.
🔹 Project History: Rackla entered the Tombstone Gold Belt in 2022 after the Snowline discovery, targeting underexplored intrusive bodies further east.
🔹 Grad Discovery: Staked in July 2024 after land reopened by the South Dene First Nation and NWT government. Initial sampling revealed veining and chip channels up to 38m of 1.8 g/t gold.
🔹 Drill Strategy: Two main zones to be tested - base and top of a 400m cliff. If continuity is confirmed, longer step-out holes may follow.
🔹 Fully Funded: With ~$10M in the treasury, drill permits secured, and logistics in place, the team is ready to execute. First assay results are anticipated in early August.
Simon details what success would look like in the initial drill results, shares thoughts on assay lab timelines, and explains why this virgin gold system could be a major new discovery.
