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Eureka Resources Announces Gold Creek Update
Vancouver, British Columbia--(Newsfile Corp. - February 9, 2017) - Eureka Resources Inc. (TSXV...
About this update from Kore Mining Ltd.
[{"type":"text","content":"\nEureka Resources Announces Gold Creek UpdateVancouver, British Columbia--(Newsfile Corp. - February 9, 2017) - Eureka Resources Inc. (TSXV: EUK) (\"Eureka\" or the \"Company\") is providing a summary of our plans for 2017 at the Gold Creek Property located in the center of the historic Caribou Gold Camp.Since acquiring the property in 2016 our technical group has commenced a review of the substantial data package that was acquired as part of the Option Agreement.Previous OperationsThe Gold Creek project has a number of favorable attributes including the host lithology of the property is similar to both our FG project and the Spanish Mountain deposit. The FG project was one of the first discoveries of this type located in the Quesnel trough. These deposits are of a typical Sediment Hosted Vein (SHV) type deposit. In 2008 a program conducted by previous operators indicated that the mineralization encountered at Gold Creek may include an intrusive related gold source. It is important to note that SHV and Intrusive related deposits are some of the world's largest Gold Deposits .Readers are cautioned that the following results should be considered historical in nature as the Company has not performed sufficient work to determine whether these results are compliant with the requirements of National Instrument 43-101.The Gold Creek project is located approximately 8 km to the Northwest of Spanish Mountain deposit. The Spanish Mountain deposit has reported resources of Measured and Indicated 238 million tonnes grading .46g/t for 3.5 million ounces and an Inferred resource of 311 million tonnes at .35 g/t for a further 3.5 million ounces. (source Spanish Mountain Gold Ltd. Website corporate presentation).Exploration targets on the property are gold-bearing quartz veins and gold-silver bearing stratabound zones of quartz and carbonate-altered quartz-veins that occur in the basal, black phyllite metasedimentary and greywacke volcanic sequences such as observed in the Spanish Mountain deposit.There are a number of significant factors that make Gold Creek a very attractive project including:Stable political jurisdictionExcellent local infrastructure and service centresRelatively inexpensive grid powerLocated close to a number of operating minesFurther previous drill results have identified areas with attributes that would support a si...