The Company was awarded Yukon Mineral Exploration Program (YMEP) grants for Target Evaluation at both the Eureka and Treble projects. Under the YMEP the Yukon Government provides successful applicants funding to support mineral exploration activities for 50% of eligible expenditures to a maximum of
Eureka is located 65 km south of
Despite being the source of substantial placer gold, hard rock exploration at Eureka has only been conducted intermittently since 1988. Work to date has resulted in the discovery of multiple showings: Wealth, Childs, Allen, Happy and Ball, summarized below. Grid soil sampling across parts of the Eureka property has outlined extensive gold-in-soil geochemical anomalies which are similar in size and intensity to anomalies at nearby gold deposits. Can-dig trenching and hand pitting results from
Wealth Showing
Located in the center of the Property, bulldozer trenches across the Wealth Showing exposed quartz breccias with gougy alteration halos. Highlight trench results include: 0.54 g/t gold across 20 m, 0.97 g/t gold over 17.9 m, and 0.75 g/t gold across 10 m. RC drilling within this showing returned encouraging results including: 0.59 g/t gold across 18.3 m and 2.34 g/t gold over 3.05 m.
Childs Showing
Located 2.5 km south of the Wealth Showing, gold-bearing breccia zones exposed in bulldozer trenches returned 0.72 g/t gold over a true thickness of 4 m and 0.48 g/t gold across a true width of 5.5 m. RC drilling at this showing returned 6.62 g/t gold over 1.52 m and 1.19 g/t gold over 1.52 m.
Allen Showing
Located 800 m northeast of the Wealth Showing, a deep trench cut along a north-trending ridge exposed a brecciated and clay-altered zone that is 2 to 5 m wide. A rock sample from the trench returned 15 g/t gold, while chip sampling across an alteration zone in the trench returned 0.44 g/t gold across 4 m.
Happy Showing
Located 1.8 km north of the Wealth Showing, a sample from an isolated diamond drill hole assayed 9.99 g/t gold over 1.5 m and has not been followed up.
The Treble property is located midway between
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This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
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