Eureka Receives Permit FOR GOLD Creek Drilling
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TSXV – EUK
WKN: 875742
ISIN : CA2986551018
EUREKA RECEIVES PERMIT FOR GOLD CREEK DRILLING
Vancouver, British Co lumbia, May 8, 2017 - Eureka Resources Inc. (“Eureka” or the
“Company”) is pleased to announce that it has received the drilling permit for its Gold
Creek Project located near Likely, B.C. The Gold Creek property option was acquired
by Eureka in November 2016 from Bulli on Gold Resources Corp. (TSXV – BGD) and
consists of 34 mineral claims covering 9,673 hectares.
Drilling will consist of a minimum of 2 ho les totalling 400 metres and focus on a gold
bearing zone identified by drilling conducted by the prev ious operator in 2008 and
2011. Eureka’s initial drill program will se rve as due diligence of the former work
conducted and as a guide to design future exploration in this area of the property.
Drilling will be conducted in previously di sturbed areas, mitigating any environmental
disturbance. The program will utilize a diamond drill and the first hole will step out from
one of the previous operator’s holes which terminated at 44 metres in mineralization.
Drilling is scheduled to commenc e in late May. The Comp any has provided the drill
contractor with an initial advance to mobilize the drill.
Mineralization encountered to date at Gold Creek strikes towards the Spanish Mountain
deposit which is located appr oximately 8.5 kilometres to the southeast. Spanish
Mountain hosts a 2.48 millio n ounce measured and indicated gold resource – See
Spanish Mountain Gold Ltd. news releas e dated April 10, 2017. The Gold Creek
mineralized zone is interpreted to occur abo ve the stratigraphic unit which hosts the
Spanish Mountain mineralization.
Michael Sweatman, CEO of Eure ka stated, “The drill program at Gold Creek marks the
commencement of exploration by Eureka on this newly acquired property. We would
like to thank Spanish Mountain Gold Lt d. (TSXV – SPA) for their assistance with
logistical support for this initial phase of our drill program. The proposed drilling is
located close to their core storage area.”
ABOUT EUREKA
Eureka is an exploration focused compan y based in Vancouver, British Columbia,
whose strategy is to acquire projects in prospective areas that have the potential to
deliver important new discoveries to create value for its shareholders.
British Columbia, Canada
Eureka’s 100% owned FG Gold property is an advanced-stage gold project located in
the Cariboo Mining Division and currently under option to Canarc Resources Corp
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(TSXV: CCM). Historical exploration has established a Measured and Indicated
(376,000 ounces) gold resource at an average grade of 0.776 g/t gold, using a cut-off
grade of 0.5 g/t, and an Inferred gold resource (634,900 ounces) at an average grade of
0.718 g/t gold, using a cut-off grade of 0.5 g/t. Details of the gold resource can be found
in “NI 43-101 Technical Report, Frasergold Exploration Project, Cariboo Mining Division,
dated July 27, 2015” availabl e under the Company’s prof ile on SEDAR or on the
Company’s website.
Eureka has the option to earn a 100% interest in the Gold Creek property located in the
Cariboo Mining Division. Gold Creek is a grassroots gold project neighbouring, and with
similar geology to the Spanis h Mountain deposit ow ned by Spanish Mountain Gold Ltd.
(TSXV: SPA).
Eureka has the option to earn a 100% intere st in the CKN property located in the
Cariboo Mining Division. The CKN property is adjacent to Taseko’s Gibraltar mine and
consists of two mineral claims covering 1,356 hectares.
Yukon Territory, Canada
Eureka’s 100% owned Luxor property consis ts of three non-contiguous claim blocks
totalling 360 mining claims. Luxor is located in the Dawson Range Gold Belt, a district
of major porphyry, breccia and vein occurrences.
Eureka’s 100% owned TAK property is also located in the Dawson Range Gold Belt and
consists of 82 mining claims.
Neighbouring projects include Goldcorp’s Coffee project and Kinross’ Golden Saddle
project.
Nevada, USA
Eureka owns a 50 percent interest in the Gemini lithium br ine project located
approximately 40 km (26 miles) south of North America’s only producing lithium mine at
Silver Peak, Nevada.
Kristian Whitehead, P Geo. is the Compan y's designated Qualified Person for this
news release within the meaning of NI 43-101 and has reviewed and approved the
technical information contained in this news release.
Further information on Eureka can be found on the Company ’s website at
www.eurekaresourcesinc.com and at www.s edar.com, or by contacting Michael
Sweatman, President and CEO, by email at info@eur ekaresourcesinc.com or by
telephone at (604) 449-2273.
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this
release.
Cautionary Statement Regarding Adjacent Properties and 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, unc ertainties, 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 in clude, but are not limited to, statements with timing of our
drill program and its anticipated scope and the business and operations of the Company. Forward-looking statements are
necessarily based on a number of estimate s and assumptions that, while considered reasonable, are subject to known and
unknown risks, uncertainties an d 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, legislat ive, environmental and other ju dicial, regulatory, political and
competitive developments; delay or failure to receive board 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. 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 th ese statements, which only apply as of th e 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 re vise any forward-looking statement, whether as a result of
new information, future events, or otherwise.