DRILL TARGETS
- Test lateral extensions and depths to 600m below surface on the
Happy Valley and Porepunkah Reefs - Maiden drill test of nearby historic workings at Champion/Franklin and Managers Hill
- Maiden drill program testing multiple lines of Reef with historical gold grades up to 2 ounces per tonne
"The commitment to ramp up our drilling activities in the Myrtleford region is the result of the projects ability to yield high grade results at
A second drill rig has arrived onsite at the
OTHER COMPANY EXPLORATION ACTIVITIES
- At
Happy Valley , preliminary mapping of historical workings and first-pass rock chip sampling have been completed along the 12km long corridor. The assay results from this program will be known shortly and will potentially identify multiple targets for future drilling. - At Twist Creek, first-pass rock chip sampling and mapping is in progress along the 7km long corridor.
- Awaiting drill site approvals to allow maiden drill testing of Champion/Franklin and Manager's Hill targets located at
Happy Valley - Review of geophysical data from the Myrtleford exploration license to define additional regional targets.
- At Beaufort, a review of the project including structural mapping, rock chip sampling and drillcore assessment is in progress.
HAPPY VALLEY GOLD PROSPECT
The Happy Valley Prospect is situated in the south eastern portion of the Company's Exploration Licence EL006724 in
Gold mineralization at
TWIST CREEK GOLD PROSPECT
The Twist Creek Prospect is situated in the northern portion of the Company's Exploration Licence EL006724 in
QUALIFIED PERSON
President, Chief Executive Officer and Director
Phone: 604.288.8082
Email: info@E79resources.com
Website: www.E79resources.com
ABOUT
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.
SOURCE
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