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Thursday, February 19, 2009
Hawthorne Assays 82.28 Metres Grading 0.754 g/t Au at Frasergold
Hawthorne Gold Corp. ("Hawthorne") (TSX-V: HGC; US: HWTHF) and Eureka Resources Inc. ("Eureka") (TSX-V: EUK) are pleased to announce assay results from the final 22 diamond drill holes ("DDH") of the 2008 exploration program on the Frasergold property that consisted of 58 holes (totaling 10,405 metres). Of interest, DDH FG08-362C intersected 82.28 metres grading 0.754 g/t Au, including 5.88 metres grading 3.969 g/t Au and DDH FG08-350C intersected 163.06 metres grading 0.465 g/t Au, including 3.85 metres grading 13.248 g/t Au. All drill holes intersected the estimated true width of the mineralized zones. The property is located in the Cariboo Gold District of central British Columbia, Canada and is accessible by highway and logging roads year round.
"Results from the drilling have extended the gold system into the south east area of the Main Zone and potentially along strike further in the south east direction outside of the Main Zone. Hawthorne is pleased to have received all results from the 2008 exploration program. The technical team is diligently working on the modeling of the deposit to gain a better understanding of the size and potential of the deposit and work towards the completion of National Instrument ("NI") 43-101 Compliant Gold Resource Estimate Technical Report at the Frasergold Property," commented Richard Barclay, President & CEO of Hawthorne.
"Hawthorne has come along way in obtaining a better understanding of the complexity of the Frasergold deposit and Eureka believes the geological model will assist in defining a potential resource. We look forward to seeing the results from the forthcoming NI 43-101 Resource Estimate at Frasergold. We commenced drilling on this property in the 1980s and are excited to read a report that summarizes the hard work Eureka and Hawthorne have completed on this project to date," stated John J. O'Neill, CEO and President of Eureka.
Highlights of the assay results are presented below:
|
Hole No. |
|
From |
To |
Length |
Au |
|
|
|
(m) |
(m) |
(m) |
g/t |
|
FG08-311C |
|
119.76 |
156.22 |
36.46 |
0.319 |
|
|
|
|
|
|
|
|
FG08-324C |
|
106.84 |
196.90 |
90.06 |
0.503 |
|
|
includes |
169.75 |
175.89 |
6.14 |
2.107 |
|
|
|
|
|
|
|
|
Hole No. |
|
From |
To |
Length |
Au |
|
|
|
(m) |
(m) |
(m) |
g/t |
|
FG08-326C |
|
160.09 |
176.40 |
16.31 |
0.771 |
|
|
includes |
160.09 |
165.47 |
5.38 |
1.477 |
|
|
|
|
|
|
|
|
FG08-327C |
|
82.43 |
152.42 |
69.99 |
0.482 |
|
|
includes |
106.98 |
114.38 |
7.40 |
1.535 |
|
|
|
|
|
|
|
|
FG08-342C |
|
125.14 |
157.28 |
32.14 |
0.346 |
|
|
includes |
125.14 |
133.66 |
8.52 |
0.866 |
|
|
|
|
|
|
|
|
FG08-351C |
|
94.56 |
135.94 |
41.38 |
0.490 |
|
|
includes |
94.56 |
101.88 |
7.32 |
1.488 |
|
|
|
|
|
|
|
|
FG08-356C |
|
14.02 |
64.00 |
49.98 |
0.462 |
|
|
includes |
56.50 |
61.00 |
4.50 |
3.003 |
|
|
|
|
|
|
|
|
FG08-358C |
|
28.70 |
68.16 |
39.46 |
0.428 |
|
|
includes |
59.74 |
65.84 |
6.10 |
1.605 |
|
|
|
|
|
|
|
|
FG08-359C |
|
33.07 |
61.77 |
28.70 |
0.722 |
|
|
includes |
49.55 |
54.96 |
5.41 |
1.164 |
|
|
|
|
|
|
|
|
FG08-360C |
|
31.90 |
56.51 |
24.61 |
1.036 |
|
|
includes |
48.58 |
52.73 |
4.15 |
3.301 |
|
|
|
|
|
|
|
|
FG08-361C |
|
52.94 |
138.99 |
86.05 |
0.364 |
|
|
includes |
52.94 |
64.34 |
11.40 |
1.104 |
|
|
|
|
|
|
|
|
FG08-362C |
|
53.08 |
135.36 |
82.28 |
0.754 |
|
|
includes |
94.67 |
100.55 |
5.88 |
3.969 |
|
|
includes |
114.91 |
135.36 |
20.45 |
1.051 |
|
|
|
|
|
|
|
Hole No. |
|
From |
To |
Length |
Au |
|
|
|
(m) |
(m) |
(m) |
g/t |
|
FG08-350C |
|
53.64 |
216.70 |
163.06 |
0.465 |
|
|
includes |
154.55 |
158.40 |
3.85 |
13.248 |
|
|
|
|
|
|
|
|
FG08-353C |
|
120.41 |
144.27 |
23.86 |
0.757 |
|
|
|
|
|
|
|
|
FG08-363C |
|
136.72 |
137.30 |
0.58 |
12.000 |
|
|
includes |
47.05 |
137.30 |
90.25 |
0.321 |
|
|
|
|
|
|
|
|
FG08-364C |
|
189.94 |
215.90 |
25.96 |
0.410 |
|
|
|
|
|
|
|
|
FG08-335C; FG08-348C; FG08-365C;
FG08-366C; FG08-367C FG08-340C |
No Significant Intersections |
|
|
|
|
|
|
|
For lab and assay procedures see news release dated January 28, 2009.
Michael Petrina, P.Eng., the Company's Vice President of Mining and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.
About the Frasergold Option Agreement
Pursuant to an option agreement dated October 31, 2006 between Hawthorne and Eureka, Hawthorne can earn a 51% interest in the Frasergold property by completing sufficient exploration expenditures totaling $3.5 million (expended), completing a feasibility study by April 30, 2010 and making cash payments totaling $175,000 ($125,000 paid to date) before October 31, 2009. Hawthorne can earn a further 9% (for a total of 60%) by arranging financing for 70% of the estimated capital costs for production.
About Eureka Resources Inc.
Since its incorporation in 1981, Vancouver-based Eureka Resources, Inc. has focused on the exploration and development of natural resource properties in order to create wealth for investors. Moreover, with renowned British Columbia entrepreneur John J. O'Neill at the helm, Eureka has long been a steady and trustworthy presence on the British Columbia mineral-exploration scene. In addition to Eureka's fostering of the Frasergold claim, the company holds the rights to the promising Lottie Lake copper claim, which is also in central British Columbia. Shares in Eureka Resources trade on the Venture Exchange of the respected Toronto Stock Exchange.
About Hawthorne Gold Corp.
Hawthorne Gold Corp. is a Canadian-based gold exploration and development company with key properties located in British Columbia, Canada. Hawthorne is led by well-respected mining leaders Richard Barclay and Michael Beley. Hawthorne's goal is to become a junior gold producer by working towards production at Table Mountain in the latter part of 2009 and the continued resource development at the nearby Taurus deposit, as well as the Frasergold deposit in the Cariboo region of south central British Columbia.
For more information on Hawthorne, contact Todd Hanas toll free at 1-866-869-8072 or the Company at (604) 629-1505 or toll free at 1-888-629-1505, or you can visit Hawthorne's website at www.hawthornegold.com. For more information on Eureka, contact John J. O'Neill at (604) 608-6154 or you can visit Eureka's website at www.eurekaresourcesinc.com..
ON BEHALF OF ON BEHALF OF
HAWTHORNE GOLD CORP.
"Richard J. Barclay"
President & CEO
EUREKA RESOURCES INC.
"John J. O'Neill"
President & CEO
Certain information regarding the company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
You can also view this News Release on our website at:
http://www.hawthornegold.com/s/NewsReleases.asp?ReportID=338676 |