FG 2017 Exploration Announced
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TSXV – EUK
WKN: 875742
ISIN : CA2986551018
FG 2017 EXPLORATION ANNOUNCED
Vancouver, British Columbia January 31 2017 Eureka Resources In c. (“Eureka” or the
“Company”) has been informed by Canarc of their exploration plans for the FG Project for 2017.
“We are excited about their plans to advance the project” stated Michael Sweatman Eureka‘s
CEO
The FG Gold Project is located in the Cariboo Gold Camp, situated in the historic Quesnel
Trough area of central British Columbia and has a long history of continued exploration since
the 1970s. A combination of quartz veins and knotted phyllites host gold mineralization
containing coarse free gold and finer grained sulphide bearing gold.
The property consists of 33 mineral contiguous mineral claims totalling 10,401 hectares.
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. 1
Through drilling, soil sampling, induced polarization (“IP”) geophysical surveys and surface
exploration mineralization has been defined over a strike length of 3 kilometres, and has
indicated potential for additional mineralization that could extend along an interpreted strike
length of over 10 kilometers.
The 2017 exploration program will consist of diamond drilling on the most advanced prospective
targets along the northwest extension of the Main Zone that have been identified and
conducting soil sampling, prospecting and mappi ng to follow up on other highly prospective
areas of the property that have been identified by geophysics work done on the property.
The 2017 program will focus on the following target areas as shown on Map #1.
Target #1: Diamond drilling on the projected northwest extension of the Main Zone.
Six to eight diamond drill holes measuring 200 to 300 meters each, totalling approximately 2000
meters, will be drilled into the northwest extension zone and the northwest offset zone.
1 The resource is calculated 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” available on
SEDAR or at the Eureka’s website.
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The drill targets along this northwest projecti on of the Main Zone have been delineated by
coincidental soil and electrom agnetic anomalies completed in prior exploration programs.
Mapping in this area has also identified lithologies that are similar to the main zone which
contains the current historic resources.
Exploration success in this area offers the potent ial to significantly in crease gold resource
ounces on the property.
Target #2: Soil sampling in the vicinity of the northwest extension zone
Soil sampling will be completed to fill in areas in the vicinity of the northwest extension to cover
a data gap in this area. An ar ea measuring approximately 1500 by 1000 meters will be sampled
on a 50m X 100 m grid generating approximately 250 to 300 soil samples.
The purpose of this sampling program is to check for mineralization in the soils to identify the
presence of other mineralized structures in this area.
Positive results would identify targets for follow up drilling in future exploration programs.
Target #3: Stream sediment, soil sampling, prospecting and mapping along the southern
limb of the Eureka syncline.
A 2016 interpretation study of a 2007 geophysical survey interpreted the presence of conductive
EM responses to be that of a sedimentary rock package on the south east limb of the Eureka
syncline similar to that which hosts gold mineralization within the main zone.
The intent of this program woul d be to identify and develop targets fo r future follow up drilling in
this new area of the property that offers the potential to signific antly increase gold resource
ounces on the property.
Prospecting and mapping will also be conducted in the area of the southeast projection of the
Main Zone and in the Eureka bowl area.
The exploration program will be conducted during the summe r of 2017 with a budget of
$500,000.
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Map #1: 2017 Exploration Targets
Kristian Whitehead P.Geo. is the Company's designated Qualified Persons for this
news release within the meaning of NI 43-101 and has reviewed and approved the
technical information described 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, or Bob Ferguson by email at
[email protected] or by telephone at (604) 449-2273.
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, 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 include, but are not limited to, statements with respect to the
Company's proposed financings, objectives, goals and future exploration plans at the Gemini Project and the FG Project, the
costs related to the Company’s proposed exploration programs, and the business and operations of the Company. Forward-
looking statements are necessarily based on a number of esti mates and assumptions that, while considered reasonable, are
subject to known and unknown risks, uncer tainties 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
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limited to: general business, economic and social uncertaintie s; litigation, legislative, environmental and other judicial,
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 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 intent ion or obligation to update or revise any forward-looking
statement, whether as a result of new information, future events, or otherwise.