VANCOUVER , July 20, 2015 /CNW/ - Eureka Resources Inc. ("Eureka" or the "Company") (EUK.V) announced today that the Company has filed on SEDAR a National Instrument 43-101 ("NI 43-101") compliant updated technical report on the Frasergold Project dated July 20, 2015 . The authors of the Report are K. V. Campbell , Ph.D, P. Geo and Gary Giroux , MA.Sc., P.Eng both of whom are Qualified Persons as defined in NI 43-101.
Michael Sweatman , President and CEO of the Company stated: "We are pleased to have the report and the updated recommendations, and we are looking forward to moving ahead with new exploration at Frasergold later this year once budgets are determined and all steps necessary to conduct the work have been completed."
The report includes results of exploration conducted in 2011 and in April 2015 and updates the National Instrument 43-101-compliant technical report entitled "Report on the 2007 and 2008 Drill Programs on the Frasergold Project", dated November 18, 2009 , authored by K. V. Campbell , Ph.D, P.Geo, and G. H. Giroux , MA.Sc, P.Eng. which was prepared for Hawthorne Gold Corp. in 2009. The Company expects to file the updated report on SEDAR later this month.
The updated report contains mineral resource estimates which have not changed since the 2009 report was prepared for Hawthorne Gold Corp. as no additional drilling has been completed since this time.
About Eureka and the Frasergold ProjectSince its incorporation in 1981, Vancouver -based Eureka Resources, Inc. (EUK.V) has focused on the exploration and development of mineral resource properties. Its flagship project, the Frasergold deposit, is located about 100 kilometres east of Williams Lake, B.C. , Canada , with good summer/fall access by B.C. provincial highways and secondary roads.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Company's proposed financing, objectives, goals or future exploration plans at the Frasergold Project, and the business and operations of the Company. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to:
general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in the Company's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release.
Specifically FLI includes the following:
- Future exploration activities, which are dependent upon the Company acquiring the necessary equipment, personnel and supplies, continuing access to the property, and sufficient financing to carry out those plans.
- Future resource potential, which assumes successful completion of exploration activities, geological models and expectations are correct, and economic factors which can affect the viability of extracting minerals, if any.
- Current resource estimates, which are based on the assumptions set out herein, and are subject to the risk those assumptions are incorrect.
- Geological conclusions, which are dependent on a number of factors including assumptions about continuity, grade and future commodity prices any of which can have a negative influence on viability or existence of a mineralized area.
Accordingly, readers should not place undue reliance on such forward looking statements. Eureka disclaims any obligation to revise any forward looking statements as a result of information received after the fact or regarding future events.
Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
The scientific and technical information contained herein has been reviewed and approved by John R. Kerr , P.Eng., a "Qualified Person" within the meaning of NI 43-101.
SOURCE Eureka Resources, Inc.
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