E79 Resources Nears Completion of In-Fill Soil Sampling Program over Gold-

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Algemeen advies 11/01/2021 06:28
E79 Resources Nears Completion of In-Fill Soil Sampling Program over Gold-Arsenic-Antimony Anomaly at its Victorian Goldfields Beaufort Property, Part-One.
Vancouver, B.C., January 6, 2021. E79 Resources Corp. (CSE: ESNR) (“E79” or the “Company”) is pleased to report on the analysis and follow-up program in relation to an orientation soil sampling program on its Beaufort
tenement which was undertaken earlier in 2020, targeting a 2.5km segment of prospective ground between the Navarre Fault and a major regional fold hinge within its Beaufort tenement. The program was designed as an
orientation survey to determine the suitability of soil sampling for drill target delineation along the remainder of the 20km structural target zone within the permit area. The survey established the effectiveness of soil sampling, delineated two trends of elevated gold, and identified a gold-arsenic-antimony (Au-As-Sb) geochemical association comparable to the signatures seen at Fosterville, Bendigo and other major gold camps in Victoria.
Rory Quinn, E79’s President and Chief Executive Officer stated, “We were very encouraged by the results of the initial orientation soil survey program. The results reinforced our view that the Beaufort project has the potential to host a significant gold system which has not been recognized to date.
The initial survey confirmed several anomalous gold trends overlying key structures, but more importantly, we have established the presence of coincidental gold-arsenic-antimony anomalies. This geochemical signature is analogous to the geochemical footprint of tier-one deposits in Victoria, such as Fosterville. The Company has commenced a follow-up in-fill soil
sampling program which we look forward to sharing the details of in short order.”

The 2020 soil grid successfully demonstrated:
• A 2000m, long gold-arsenic-antimony trend paralleling the regional structural trend (Figure 1).
• A gold-arsenic-antimony geochemical fingerprint over the key structural trends, an element association that is the hallmark of several of the major gold districts in Victoria (Figure 2).
• The effectiveness of a 100m sampling grid of residual soil material in delineating kilometer scale anomalies.
• Indication of the presence of a second gold trend along the NE trending secondary structure, with a strike length of around 600m.
The Company is in-fill sampling key target areas, where elevated gold trends are accompanied by arsenic, and more importantly antimony levels, to advance them to drill ready status as soon as possible.

The 2020 soil sampling program is documented in detail in the Company’s 43-101 technical report, lodged on Sedar on October 26, 2020. The program consisted of 354 soil samples collected on a 100m x 100m grid spacing
and was focused over the central part of the Camp Hill Range directly north of the township of Beaufort (Figure 1).
Sampling targeted a 2.5km segment of prospective ground between the east dipping north-northwest trending Navarre Fault Zone and the subparallel, antiformal fold closure located in its hanging wall. An east-northeasttrending
sub-vertical fault mapped by Cayley and McDonald (1995) intersects the main region trends. The survey area was also designed to stay within state forest, for which approval to conduct low-impact exploration activities
had been granted, and to avoid mapped areas of alluvial sediment. The main soil types within the sample grid were therefore residual soils developed over the weathered bedrock. Importantly the target area lies within the
postulated source region for the extensive alluvial gold workings that extend along the flanks of the 20km structural
The 354 soil samples were collected using a Dutch-style hand auger from various depths into clear C-horizon soils on top of the weathered bedrock. These samples were collected on a 100m by 100m spaced east-west and northsouth orientated grid on which sample locations were offset by 50m on adjacent lines. The grid was designed to test both the regional northwest trend and the second order northeast-trending structures. Historic soil sampling and drilling on EL6454 were only conducted on small, disjointed areas and mostly on much larger grid spacings.
Previous sampling lacked the resolution to define drill targets for structurally controlled high-grade gold systems.
The soil samples were shipped to Lab West analytical laboratories in Western Australia. The laboratory separated the clay fraction of the soil samples and analyzed the gold content via an Aqua Regia digest and a range of Multi elements including Gold, Arsenic, Antimony and Lead via an ICP-MS determination.

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