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Eureka Resources Inc.
Summary
| Project: | Frasergold | |
|---|---|---|
| Deposit: | Gold Creek | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 7/25/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-7-2017: Eureka Resources Inc. announces an Exploration/Drilling Update report for its Gold Creek deposit at the Frasergold project. Drilling results incl. 84.65m @ 0.96g/t Au from 85.85m. Vancouver, British Columbia--(Newsfile Corp. - July 25, 2017) - | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Kristian Whitehead (Internal) | |
| ABSTRACT: | Vancouver, British Columbia--(Newsfile Corp. - July 25, 2017) - Eureka Resources Inc. (TSXV: EUK) ("Eureka" or the "Company") is pleased to announce that it has received assay results from its three hole diamond drill program within the "Camp" zone at its Gold Creek Property ("Gold Creek" or the "Property") located in the Cariboo Mining District, near Likely, British Columbia. The best results include 33.20 g/t Au over 1.25 meters in hole 35 and 17.95 g/t over 1.5m in hole 34. The 2017 drilling program consisted of 3 diamond drill holes totaling 331.00 meters which was focused on a gold-bearing zone, the "Camp" zone, containing disseminated and high-grade vein and fault controlled gold mineralization encountered by recent historical operators. All significant intersections from the 2017 drill program are found in the table below. Gold Creek was acquired by Eureka by way of an option agreement with BullionGold Ltd. in November 2016. The Property consists of 33 mineral claims covering 9,673 hectares and is accessed via a well-maintained all-weather road. The gold mineralization is believed to be of orogenic in nature and found to be contained within the same Mesozoic sedimentary package as at Spanish Mountain located approximately 8 km to the southeast, and as at the Company's FG property approximately 45 km to the southeast. Eureka's first drill program at Gold Creek serves as verification of the work conducted in 2008 and 2011 by BullionGold Ltd. and will assist in designing future exploration programs which will focus on delineating strike, width and depth of this zone as well as other prospective areas on the property. "The results of this program both met and exceeded our initial expectations," stated Mike Sweatman, President, adding "We designed the program to twin a reverse circulation drill hole that was lost in mineralization, and to infill other areas within the Camp zone that had been previously drilled in the immediate area. We were successful in both duplicating historical results and in determining mineralization continues to depth. We are confident that both careful drilling and sampling techniques combined with rigorous assay procedures will lead us forward towards additional significant gold discovery in this highly prospective property." | |
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