E79 Resources Corp. (CSE: ESNR) has intersected visible gold in its maiden drill programme at the Twist Creek Prospect on its Myrtleford Project, in Victoria, Australia.
Highlights
- Multiple occurrences of visible gold in TWD006 from 73.9 to 74.5m downhole. The fine gold is associated with a laminated quartz reef and abundant sulphides including galena, sphalerite, chalcopyrite, and pyrite.
- TWD006 confirms the extension of mineralisation beneath the Scandinavian historic surface workings
- Four additional drill targets will be tested as drilling continues along the 7km trend at Twist Creek
“E79 Resources is extremely pleased that visible gold and sulphides have been intersected in our maiden drill programme at Twist Creek, located 40km north of Happy Valley,” Interim President and CEO, Martin Pawlitschek, said.
“Four additional targets will be drill tested along the Twist Creek trend, none of which have ever been previously drilled. These drill intercepts further support our view that the Myrtleford property may yield a significant gold discovery. The drilling at Twist Creek targeting a historic high grade historic mining camp continues in parallel as we continue our work in the Happy Valley district to the south.
“This new discovery in an area previously never drill tested, adds significant evidence to the company’s geological model that gold deposition is controlled by deep seated structural controls and as such gold mineralisation may continue to significant depths within the Myrtleford project area where the company has secured up to 45km of strike length of prospective geology with abundant historical mining activity.”
After the high-grade gold discovery hole at Happy Valley, where drilling intersected 11.1m @ 160.45g/t Au (HVD003) the company made a commitment to ramp up the drill activities to test the Twist Creek targets containing up to six lines of reef over a three km strike length (within the 7km long trend) that were historically mined with grades up to two ounces of gold per ton.
The Twist Creek maiden drill programme was designed to focus on zones containing multiple reef structures with historic gold production. Drilling continues at both the Twist Creek and Happy Valley Prospects within the Myrtleford Project area.
The Twist Creek Prospect is situated in the northern portion of the company’s Exploration Licence EL006724 in Victoria, Australia. It lies within a seven km long trend of historical workings and historical mines. The Twist Creek Mining Centre produced gold at an average grade of ~31g/t Au. Prior to E79’s maiden drill programme, no modern exploration had been conducted at this prospect.
Drill hole TWD006 was drilled at an inclination of -60o and towards 147o (GDA Grid). These intersections represent downhole lengths only and as such do not represent true widths. Historical mining operations were undertaken on subvertical steeply dipping quartz vein structures.
Although the geometry of the quartz body intersected in this hole is not clear from this single intersection, the drill core contacts observed are variable and many are at moderate angle (35-55o to core axis).
Multiple historic stopes and voids have been intersected either side of the drillcore that contained the visible specs of gold at the Scandinavian prospect. No historic records of these workings were available but underline the potential for this prospect and what remains both beneath and along strike.
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