VANCOUVER, BC, June 14, 2021 /CNW/ – E79 Resources Corp.
Rory Quinn, E79’s President and Chief Executive Officer stated, “Our drill program at Happy Valley was designed to test for down-dip extensions of previously mined high-grade quartz vein structures.
Confirmation of a section of visible gold assaying at over 78 ounces per tonne demonstrates the high-grade potential of the Victorian Goldfields.
Analytical assay results have confirmed the tenor of visible gold and other mineralized zones identified in drill core from the first two diamond drill holes at the Happy Valley prospect.
The Happy Valley Prospect is situated in the south eastern portion of the Company’s Exploration Licence EL006724 in Victoria, Australia .
The gold can occur as free particles within the quartz veins and can also be associated with sulphides, including pyrite and to lesser degrees arsenopyrite and galena.
The drill hole has intersected two zones of quartz containing both sulphides and coarse gold.
Peter de Vries, MAIMM, MAIG a “Qualified Person” as defined by National Instrument 43-101, has read and approved all technical and scientific information contained in this news release.
The Myrtleford property represents the consolidation of an entire historic gold camp with over 70 past producing gold mines on the property, where the bulk of historic mining stopped at the water table.
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.