Both holes were drilled at the
The grade revision for the intercepts represent a two to three-fold increase from the previously reported results. The revised intersection grades are as follows; 2.3m @ 40.5g/t Au from 135.1m previously 2.3m @ 14.4 g/t Au - (Porepunkah Reef, HVD006) 5.4m @ 70.0g/t from 149.80m previously 5.4m @ 32 g/t Au - (New Structure, HVD007) 1.7m @ 5.5g/t Au from 203.70m previously 2.6m @ 3.64g/t Au from 202.7m - (Porepunkah Reef, HVD007)
All other intersections associated with these holes and previously reported intercepts remain the same.
The Company's internal QAQC procedures have indicated that some of the initial fire assay/AAS results received from the laboratory had significantly under-reported the gold assays in comparison to the subsequent and well correlated LeachWELL and gravimetric analyses of the same sample. It is understood that there was a problem with the AAS instrument finish on the initial fire assays.
The Company routinely utilises the 50g fire assay method with an atomic absorption spectroscopy (AAS) finish on all samples. LeachWELL analysis plus 50g fire assay on the tails is also completed on all samples with visible gold observed in drillcore as a check against the initial fire assay. These bulk check assays are received some time after the initial fire assay results. In addition, any 50g fire assay returns a grade >100g/t gold the sample will undergo a gravimetric analysis. Prior to the use of a gravimetric finish, over-range samples are re-assayed using a low charge weight fire assay.
Future sample submissions will be sent to
Contact:
Email: info@E79resources.com
Web: www.E79resources.com
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Cautionary Note Regarding Forward-Looking Statements
This news release contains certain statements that may be deemed 'forward-looking statements' with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expects', 'plans', 'anticipates', 'believes', 'intends', 'estimates', 'projects', 'potential', 'indicates', 'opportunity', 'possible' and similar expressions, or that events or conditions 'will', 'would', 'may', 'could' or 'should' occur. Although E79 believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. 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. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company's management on the date the statements are made.
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