DRILLING HIGHLIGHTS
Multiple zones of high-grade gold mineralization and elevated base metals were intersected in all three drill holes completed at the Scandinavian Prospect at the
Drill Intersections include; 1.6m @ 17 g/t gold (Au) from 73m (hole
1.1m @ 15.3 g/t Au from 67.9m (hole
0.75m @ 14.15 g/t Au from 75m (hole
The initial drill results from the Scandinavian Prospect confirm the extensions of gold mineralization beneath historical workings which remain open at depth.
Drilling continues to expand on these results on multiple structures over a 3km northwest trend with a further 4km of trend length remaining to be tested.
At the Scandinavian Prospect, three drill holes were completed (
Two holes were also completed at the Polar Star Prospect, where both holes intersected the targeted subvertical structure which returned encouraging results including 7m @ 0.6 g/t Au from 101m, including 1m @ 1.53 g/t Au and 1m @ 1.44 g/t Au (see significant intercepts in Table 1).
All drill holes were drilled on inclinations ranging between -31 and -61 degrees and drilled as perpendicular to the targets as the drill sites would allow (see Table 2). Historical mining operations were undertaken on subvertical steeply dipping quartz vein structures. Drill core intersection angles of the quartz vein structures range between 35 and 50 degrees to the core axis, so the true width is expected to be between 40 and 70% of the downhole width.
ABOUT
Contact:
President and Chief Executive Officer
Email: patrick@E79resources.com
Website: www.E79resources.com
Cautionary Note Regarding Forward-Looking Statements
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed 'forward-looking statements' with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expects', 'plans', 'anticipates', 'believes', 'intends', 'estimates', 'projects', 'potential', 'indicates', 'opportunity', 'possible' and similar expressions, or that events or conditions 'will', 'would', 'may', 'could' or 'should' occur. Although E79 believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company's ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop its projects, to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations, future prices of gold, copper and other metals, changes in general economic conditions, accuracy of mineral resource and reserve estimates, the potential for new discoveries, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company's plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
(C) 2022 Electronic News Publishing, source