VANCOUVER, BC, Jan. 27, 2022 /CNW/ - E79 Resources Corp. (CSE: ESNR) (OTCQB: ESVNF) ("E79" or the "Company") announces that results previously reported for two drillholes, HVD006 and HVD007 (see Company's press release dated November 15, 2021), have been significantly upgraded after identification of a laboratory issue with the initial fire assays noticed via internal QAQC procedures. Both holes were drilled at the Happy Valley prospect on the Myrtleford Exploration License (EL) in the Victorian Goldfields, Australia.
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 Adelaide for sample preparation and then onto Perth for fire assay on all samples and LeachWELL analysis on samples with visible gold. LeachWELL analyses will continue to be used as check on the accuracy of the fire assay results for selected samples. If any 50g fire assay returns a grade >100g/t gold the sample will undergo a gravimetric analysis.