E79 Resources / ESNR (CNQ)

    E79 Intersects High-Grade Gold in Inaugural Drill Program at the Twist Creek Prospect in Victoria, Australia

    • Drill Intersections include;

      • 1.6m @ 17 g/t gold (Au) from 73m (hole TWD006), including 0.6m @ 43 g/t Au, 25.5g/t silver, 1.3% lead, and 0.25% zinc from 74m, and 0.4m @ 6.77 g/t Au from 128m.
      • 1.1m @ 15.3 g/t Au from 67.9m (hole TWD003), including 0.6m @ 27.4 g/t Au from 67.9m, and 1m @ 3.84 g/t Au from 111m.
      • 0.75m @ 14.15 g/t Au from 75m (hole TWD004)

    https://money.tmx.com/en/quote…ect_in_Victoria_Australia

    Interview mit dem neuen CEO


    Externer Inhalt www.youtube.com
    Inhalte von externen Seiten werden ohne Ihre Zustimmung nicht automatisch geladen und angezeigt.
    Durch die Aktivierung der externen Inhalte erklären Sie sich damit einverstanden, dass personenbezogene Daten an Drittplattformen übermittelt werden. Mehr Informationen dazu haben wir in unserer Datenschutzerklärung zur Verfügung gestellt.


    Cash 7 Millionen CAD, damit gut finanziert und nicht gezwungen jetzt verrückte Dinge zu tun.


    MarketCap: 12 Mio CAD

    E79 Resources Provides Exploration Update for Myrtleford and Beaufort Projects in Victoria, Australia


    Vancouver, British Columbia--(Newsfile Corp. - December 7, 2022) - E79 Resources Corp. (CSE: ESNR) (OTCQB: ESVNF) ("E79" or the "Company") is pleased to report on its exploration activities at the Myrtleford and Beaufort gold properties in Victoria, Australia.
    EXPLORATION HIGHLIGHTS

    • All drill results have been received from the Happy Valley and Twist Creek prospects with key intersections including:


    • Happy Valley

      • 0.60 meters (m) at 16.25 grams per tonne (g/t) gold (Au) from 23.9m within 10.20m at 1.6 g/t Au from 21.5m (hole CFD004).
    • Twist Creek

      • 0.20m at 8.3 g/t Au from 372.4m (hole TWD012) and 2.35m at 3 g/t Au from 383.3m.
      • 0.20m at 6.43 g/t Au from 101.95m (hole TWD015), 0.25m at 7.29 g/t Au from 107.15m, and 1.00m at 3.42 g/t Au from 89m.
    • Detailed LIDAR surveys flown by the government have been acquired and processed covering the whole Myrtleford Project area. A geological interpretation identifying all the extensive historical gold workings along the 40km trend is in progress with the aim to delineate multiple drill targets.


    • Reconnaissance rock chip sampling and geological mapping continues along the 7km-long Twist Creek and 16km-long Magpie trends. Areas of significant historical gold production and LIDAR-identified structural targets will be prioritized.


    • The Exploration License (ELA007670) application process is in its final stages for the 7km extension of the Happy Valley high-grade gold corridor towards the southeast containing multiple historical gold workings.


    • The Company, which is well financed with ~$6 million in cash, is reviewing other opportunities in the Victorian Goldfields and beyond to expand its gold project portfolio.

    Patrick Donnelly, E79's President and Chief Executive Officer, stated, "We are very pleased to see that the Myrtleford Project continues to deliver encouraging drill results. We have been drilling continuously for 18 months for over 12,768m of drill core. We are continuing to focus on reviewing all the compelling targets along the 40km-trend at Myrtleford and utilizing our understanding of the geology and latest full LIDAR coverage to generate future targets. Additionally, we have a strong cash balance and are looking for other opportunities within the Victorian Goldfields and beyond to grow our exciting project portfolio."
    TWIST CREEK DRILLING
    The drilling program at Twist Creek comprising 18 drillholes (TWD001-TWD018) for 4,437m has now been completed. This drill program was the first ever to test beneath the shallow high-grade historical gold workings at this area where a total of six prospects were targeted over a 3km-long by 1km-wide trend. This trend contained an increased number of gold workings with multiple sub-parallel trends identified from the detailed LIDAR and historical reports.
    Significant results from this first-pass drill program previously released include:

    • 1.60m at 17 g/t Au from 73m including 0.60m at 43 g/t Au (hole TWD006 - Scandinavian Prospect).
    • 1.10m at 15.3 g/t Au from 67.9m including 0.60m at 27.4 g/t Au (hole TWD003 - Scandinavian Prospect).
    • 0.35m at 40.1 g/t Au from 82m (hole TWD009 - Victoria Prospect).
    • 1.20m at 8.6 g/t Au from 133.8m including 0.40m at 25 g/t Au (hole TWD007 - Victoria Prospect).

    For more information on these previously released drilling results, please see the Company's press releases dated July 13, 2022 and August 3, 2022 at https://e79resources.com/news/.
    The successful results from this inaugural drill program prompted a follow-up drill program at the Scandinavian and Victoria prospects. This program consisted of five drillholes (TWD014-TWD018) for 806m and aimed to expand the high-grade mineralization previously intersected on a 40m by 40m drill pattern. The last drillhole of this program, TWD018 was drilled at the Victoria Prospect. Significant intersections include:

    • 0.20m at 6.43 g/t Au from 101.95m (hole TWD015 - Scandinavian Prospect), 0.25m at 7.29 g/t Au from 107.15m, and 1.00m at 3.42 g/t Au from 89m.
    • 1.00m at 2.15 g/t Au from 152m (hole TWD016 - Scandinavian Prospect) and 1.00m at 2.12 g/t Au from 84m.

    More drilling was planned at Twist Creek but due to the unseasonal wet weather conditions, the program was suspended. These conditions also restricted access to drill sites planned to test the more favorable southerly plunge of the high-grade gold shoots. These areas will be re-evaluated once ground conditions improve and are deemed safe to access.
    The gold mineralization drilled at Twist Creek consisted of narrow laminated quartz reefs or broader mineralized shear zones containing sulphides, arsenopyrite and pyrite, with or without, silver, galena, and sphalerite. The presence of visible gold was intersected in many of these zones with grades varying from 6 g/t to 43 g/t Au were observed. The mineralized quartz structures and shear zones are interpreted to dip sub-vertically to steep west. The gold shoot plunge referenced in historical reports, indicate a steep southerly plunge but is difficult to confirm from the Company's shortened drill program.
    [Blockierte Grafik: https://images.newsfilecorp.com/files/8350/147029_0e0287c1641708ec_001.jpg]

    Figure 1 - Twist Creek plan showing latest drill results and targets over 3km in length.

    To view an enhanced version of Figure 1, please visit:
    https://images.newsfilecorp.co…287c1641708ec_001full.jpg
    All drillholes at Twist Creek were drilled on inclinations ranging between -30 and -70 degrees, and drilled as perpendicular to the targets as the drill sites would allow (see Table 2). Historical mining operations were undertaken on steeply west-dipping quartz vein structures. Drill core intersection angles of the quartz vein structures range between 45 and 80 degrees to the core axis, so the true width is expected to be between 50% and 80% of the downhole width.
    HAPPY VALLEY GEOLOGICAL INTERPRETATION AND 3D MODEL
    All assay results have now been received and 3D geological models completed at the Happy Valley Prospect, including first-pass drilling from nearby Champion-Franklin and Managers Hut prospects.
    In the Happy Valley historical mining area, the overall gold system comprises four individual reefs of variable widths and grades. The gold system plunges steeply towards the southeast (60 to 75 degrees southeast) and have been drill tested to 400m below surface where they remain open at depth (see Figure 2).
    The gold mineralization is interpreted to be structurally controlled and located within the axial zone of the overturned Hope Anticline. A series of post-mineralization, low-angle southwest dipping reverse faults (labelled SW1 to SW4 in Figure 2), systematically offset the mineralization towards the southeast and with depth, giving rise to the steep gold shoot plunge as shown on the long-section (see Figure 3). Although interpreted as post-mineralization structures, the higher gold grades appear to be associated with the lower angle faults where they are in closer proximity (labelled SW1 to SW3 in Figure 2), perhaps suggesting some remobilization and concentration of gold.
    Drillhole HVD010, the deepest drill intercept within the gold trend, indicates that the mineralization continues and remains open at depth.
    In the Champion/Franklin historical mining area, mineralization occurs within the western limb of the Franklin Anticline and does not appear to be associated with any significant low angle faulting. Fold frequency and intensity is variable with as little as 130m between the Hope Anticline and the syncline to the west, while the Franklin Anticline shows a larger 315m to the syncline axis to the west.
    The 3D geological interpretation has identified up to three gold target zones - upper, mid, and deeps, on multiple quartz reefs within and below areas previously drill tested (see Figure 3). These targets are currently under review along with an extensive list of other targets within the Myrtleford Project area. These will be ranked and prioritized for future drilling after the assessment is complete.
    [Blockierte Grafik: https://images.newsfilecorp.com/files/8350/147029_0e0287c1641708ec_002.jpg]

    Figure 2 - Happy Valley cross-section +/- 150m and geological interpretation looking northwest.


    https://ceo.ca/@newsfile/e79-r…ion-update-for-myrtleford

Schriftgröße:  A A A A A