Juno Corp. Discovers Extensive Critical Minerals in the Ring of Fire

/EIN News/ -- TORONTO, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Juno Corp. (“Juno” or the “Company”), a private Ontario-based exploration company and the largest mineral claimholder in the critical mineral-rich Ring of Fire, is pleased to announce a new critical mineral discovery from its 2024 exploration program. This freshly unearthed critical mineral system within the center of the Ring of Fire is an impressive discovery and the Company believes that this demonstrates the Company’s position as a leader in unlocking the potential of this significant district.

Vespa Complex – An Aerospace and Energy Critical Minerals Hub

The Vespa Complex is a newly identified intrusive complex in the Ring of Fire. The complex shows significant potential for critical mineral accumulation, particularly titanium, vanadium, scandium and high-purity iron, which are important to the aerospace and battery-metal energy supply chains. Similar to the host rocks of the Eagle’s Nest nickel-copper-platinum group metals (PGM) deposit as well as nearby chromite and titanium-vanadium mineralization 35 kilometers to the south, Vespa is hosted in a vast intrusive complex. Finding this system in the center of the Ring of Fire importantly highlights the potential of this large and previously under-explored area. The Company believes that the Ring of Fire intrusive complexes have geological similarities to globally significant mining camps such as the Bushveld Complex in South Africa.

Key Vespa Highlights:

• Drilling Results: 24 drill holes completed across 6 km of trend confirmed high grades of vanadium, titanium, scandium, and high-purity iron.
• Highlights:
  • VES-24-003: 103.0m grading 22.0% Fe, 4.33% TiO₂, 0.49% V₂O₅, from 62.0m depth
    • including 25.1m at 48.7% Fe, 10.9% TiO₂, and 1.23% V₂O₅. from 74.7m depth
  • VES-24-015: 79.8m grading 33.2% Fe, 7.51% TiO₂, 0.69% V₂O₅, from 12.2m depth
    • including 55.1m at 43.3% Fe, 10.2% TiO₂, and 0.93% V₂O₅. from 15.6m depth
• Wide spaced drilling and airborne magnetics indicate a large mineralization system, approximately 6 of 20 kilometers drilled to date.
• Interpreted folding of the zones may increase size potential.
• Anomalous copper, nickel, platinum and palladium encountered in drilling.
  

Vespa mineralization occurs as a series of layers of massive magnetite (iron-oxide mineral) with surrounding semi-massive and disseminated magnetite with ilmenite (titanium oxide mineral). Vanadium occurs with magnetite at Vespa and typically increases in concentrations greater than 1% in the massive magnetite. High concentrations of magnetite results in a very strong magnetic signature and the mineralized intervals show well in magnetic airborne geophysical surveys. During the program a high-resolution, two-direction drone magnetic survey was conducted to refine the shape and scale of the potential zones of mineralization.

Multiple linear bands of highly magnetic geophysical responses have been drill-tested over approximately 6 kilometers of strike throughout the intrusive complex with drillholes up to 250 meters in length, using the proprietary Juno Scout Rig. The mineralization appears to be folded, which results in the banded pattern highlighted in the airborne and drone magnetic surveys.

Anomalous platinum, palladium as well as copper and nickel sulphides were encountered in several holes in the rock surrounding the massive and semi-massive magnetite mineralization.

Preliminary Metallurgical Test-work

Phase one metallurgical testing on Vespa drill core has confirmed the capacity to produce high-grade iron-vanadium and titanium-scandium concentrates, critical for aerospace and energy storage industries. Metallurgical testing, including magnetic separation and gravity test work, was conducted by ALS Metallurgy out of Kamloops, British Columbia, which is an independent laboratory. A massive sample set as well as a non-massive sample were used for the test work, both resulting in concentrates of 64 – 67% Fe with 1.8% V₂O₅ and a near 70% TiO₂ concentrate.

Future test work at Vespa will focus on titanium, vanadium, iron, and scandium recoveries and suitability for the metals in aerospace, such as in the most widely used titanium-aluminum-vanadium alloy (Ti-6Al-4V).

Figure 1: Juno claim holdings and discovery locations in the Ring of Fire

Figure 2. Hole locations at Vespa over drone magnetic survey

Table 1: Hole location and orientation details for Vespa drilling

Table 2: Mineralization intervals at Vespa

Intervals may not represent true width and scandium analysis was carried out on select holes; more complete analysis may be conducted in the future.

QA/QC

Drill core was logged and sampled at Juno’s Oval Lake Camp in the Ring of Fire. Blanks and Certified Reference Materials were inserted into the sample stream at appropriate intervals according to CIM Best Practices. Sampled core was split and sent to one of two ALS Canada Ltd. Preparatory Labs: ALS Sudbury, and ALS Timmins (independent of the Company). Core samples were crushed, pulverized, and split before being sent for assay determination. Pulp samples were sent to ALS Vancouver for analysis (Codes PGM-ICP23 and ME-ICP81+V) via 30g Fire Assay ICP and ore grade ICP Fusion. This provided assay values for the Fe, Ti, and V values reported in the written disclosure. Oxide values were recalculated from elemental values. Select samples were sent for (ME-ICP06) whole rock analysis via ICP-AES, and (ME-MS81) Lithium Borate Fusion ICP-MS, both also at ALS Vancouver.

Qualified Person

Scott Zelligan, P.Geo., a qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical disclosure contained herein. Mr. Zelligan has verified the data disclosed in this document with original assay certificates and no limitations were imposed on his verification process.

About Juno Corp.

Juno Corp. is a private Ontario-based exploration company and the largest mineral claim holder in the Ring of Fire. With 4,600 km² of claims, Juno is at the forefront of unlocking the region’s critical mineral and gold potential through innovation, collaboration, and responsible exploration.

For more information please contact:

Jeremy Niemi
Chief Strategy Officer
info@junocorp.com
416-628-5902
www.junocorp.com

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of applicable United States securities legislation, together, “forward-looking statements.” Such forward-looking statements contain known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements, or developments within the mining industry, to differ materially from the anticipated results, performance, or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “aims”, “plans”, “anticipates”, believes”, “intends”, “estimates”, “projects”, “potential”, and similar expressions, or that conditions “will”, “would”, “may”, “could”, or “should” occur. Forward-looking statements included in this news release include, but are not limited to: (i) the expected development of the Company’s projects, including expectations regarding drilling and exploration activities; (ii) execution of the Company’s vision and growth strategy, including with respect to any future activity; (iii) sources and availability of third party financing for the Company’s projects; (iv) completion of work currently underway, in development or otherwise under consideration; and (v) future liquidity, working capital, and capital requirements. Information inferred from the interpretation of exploration results and information concerning potential mineralization may also be deemed to be forward-looking statements, as such information constitutes a prediction of what might be found to be present if a project is actually developed. There can be no assurance that such statements will prove to be accurate. Actual results and future events may differ materially from those anticipated in such statements and readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of their respective dates. Important factors that could cause actual results to differ materially from the Company’s expectations could include among others: risks related to fluctuations in mineral prices; uncertainties related to raising sufficient financing to fund planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical, or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the properties in question; political uncertainty; the Company’s inability to obtain property rights and interests as currently proposed or at all; uncertainties in the estimation of any potential future mineral resources or reserves; the possibility that required permits may not be obtained in a timely manner or at all; the possibility that capital and exploration costs may be higher than estimated and may preclude or render future exploration and development uneconomic; risk of accidents, equipment breakdowns or labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or other unanticipated expenses in work programs; the risk of environmental contamination or damage resulting from the Company’s operations; risks associated with title to mineral properties; risk associated with the COVID-19 pandemic; and other risks and uncertainties discussed elsewhere in the Company’s documents made publicly available from time to time. These statements are based on a number of assumptions, including assumptions regarding general market conditions, the availability of financing for proposed transactions and programs on reasonable terms, and the ability of outside service providers to deliver services in a satisfactory and timely manner. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company’s management on the date the statements are made. Except as expressly required by applicable securities laws the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates, opinions, or other factors, should change.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2f48728a-0796-4622-89e1-27136cb4aa7f

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0922f4b1-5808-4fd6-bff9-c40fe2c45684

Figure 1:

Juno claim holdings and discovery locations in the Ring of Fire

Figure 2.

Hole locations at Vespa over drone magnetic survey