Visible Gold Discovered in Consecutive Drill Holes at Depth at E79’s Happy Valley Gold Prospect

VANCOUVER, BC, April 27, 2021 /CNW/ – E79 Resources Corp.

This current discovery is adding significant evidence to the company’s geological model that gold deposition is controlled by deep seated structural controls and as such gold mineralization may continue to significant depths.

Rory Quinn, E79’s President and Chief Executive Officer stated, “The intersection of strong primary gold mineralization associated with sulphides and quartz at depth; well below the standing water-table, adds to the Company’s belief in not only the potential of the Happy Valley target, but also the large number of historic gold mines, 7km along strike at Happy Valley and elsewhere within the Company’s licence area.

The Happy Valley Prospect is situated in the south eastern portion of the Company’s Exploration Licence EL006724 in Victoria, Australia .

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.

…Read the full story