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rackla metals inc (RAK) Details

Rackla Metals Inc., an exploration stage company, engages in the acquisition, exploration, and evaluation of gold properties in the Yukon Territory, Canada. Its properties include two extensive claim blocks in the Rackla belt; an emerging trend of Carlin type gold systems in east-central Yukon; and the Sixty Mile project near Dawson City. The company was incorporated in 2011 and is headquartered in Vancouver, Canada.

Founded in 2011

rackla metals inc (RAK) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$31.5K
Chief Financial Officer
Total Annual Compensation: C$11.1K
Compensation as of Fiscal Year 2012.

rackla metals inc (RAK) Key Developments

Rackla Metals Inc. Provides Exploration Update on King Solomon's Dome Property

Rackla Metals Inc. announced that the results of exploration work conducted on the company's properties during the 2013 summer season have been compiled. The results from the recent diamond drill program on Kestrel Gold Inc.'s King Solomon's Dome (KSD) property show that all three holes intersected low grade gold mineralization with some short higher grade gold intervals, for example 4.89 g/t Au over 13cm in hole DDH13-02. Hole DDH13-02 cut several intervals of gold mineralization between 34m and 127m down hole which are believed to be related to the easterly dipping Sheba Vein system and its hanging wall mineralization. The gold mineralization, although generally low grade, shows continuity with surface trench sampling and remains open to depth. The two zones of gold mineralization and increased sulphide content encountered in DDH13-01 and DDH13-03 are believed to correlate with the geophysical chargeability anomaly at depths of 217 to 224 meters and 189 - 195.5 meters respectively and also with increased sulphide content. No visible gold was encountered and no samples returned greater than 5 g/t Au in the three holes drilled. A six week geochemical sampling and mapping project was carried out on the Face project located approximately 90 kilometers northwest of Dawson City, Yukon. A total of 1109 soil samples and 115 rock samples were collected in 2013. The survey identified an irregular shaped silver-zinc anomaly (>10 ppm Ag to 88 ppm Ag; >500 ppm to 6000 ppm Zn) over an area of approximately one square kilometer underlain by black shale of the Road River Group. Rock samples of the black shale contained similar values for silver and zinc. Based on these results the size of the property was reduced by 176 claims, leaving 529 contiguous claims in good standing. The 2013 program identified the source of the anomalous gold as being from a narrow thrust fault zone.

Rackla Metals Inc. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013

Rackla Metals Inc. reported unaudited earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported loss before income taxes of CAD 321,417 against CAD 709,576 a year ago. Net loss for the period was CAD 268,342 against CAD 709,576 a year ago. Basic and diluted loss per share was CAD 0.01 against CAD 0.02 a year ago. Cash used in operating activities was CAD 310,460 against CAD 311,903 for the same period a year ago. For the nine months, the company reported loss before income taxes of CAD 787,008 against CAD 1,180,706 a year ago. Net loss for the period was CAD 727,008 against CAD 1,180,706 a year ago. Basic and diluted loss per share was CAD 0.01 against CAD 0.03 a year ago. Cash used in operating activities was CAD 535,451 against CAD 733,972 for the same period a year ago.

Rackla Metals Inc. Completes Diamond Drilling Program on King Solomon's Dome Property

Rackla Metals Inc. announced that the company has completed the diamond drilling program on the King Solomon's Dome (KSD) property. The road accessible property, optioned from Kestrel Gold Inc., is located in the heart of the Klondike goldfields, roughly 30 km southeast of Dawson City in the Yukon Territory. Three diamond drill holes were completed (1,191m), spaced approximately 250 to 300m metres apart, to test known quartz veins, surface rock and soil geochemical anomalies and resistivity and induced polarization (IP) geophysical anomalies. The holes were drilled on a westerly to south westerly azimuth and inclined between 52 and 55 degrees. The drill core is currently being logged and sampled and results will be announced as they become available. Holes DDH 13-01 and DDH 13-03 tested an IP anomaly east of the main Sheba vein. Hole DDH 13-02 drilled through the Sheba vein and part of the IP anomaly on the west side of the Sheba vein. The holes successfully intersected the target IP chargeability anomalies. The target anomalies appear to correlate with zones of increased sulphide content which appear to be up to tens of metres in width. The sulphides consist mainly of pyrite cubes in the host wall rock schist but also include trace amounts of disseminated and quartz veinlet controlled galena and sphalerite associated with silicification. The results of previous trench sampling at the KSD property indicate that elevated sulphide levels of this nature often correlate with increased values of gold and silver. Drilling intersected cross cutting quartz veins, including limonitic and sulphide bearing quartz veins, from near surface to depths greater than 200m downhole. The quartz veins are often proximal to intermittent zones of altered, siliceous, locally brecciated and fractured chlorite schist with elevated levels of disseminated pyrite and pyrite along foliaform fractures.


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