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February 05, 2009
2008 Drilling Confirms Gold Mineralization at Frasergold Continues to Depth and Thickness of Main Zone Increases
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Hawthorne Gold Corp. ("Hawthorne") (TSX-V: HGC) and Eureka Resources Inc. ("Eureka") (TSX-V: EUK) are pleased to announce the results from 14 additional diamond drill holes ("DDH") from the 2008 exploration program that consisted of 58 holes (totaling 10,405 metres) on the Frasergold property. The property located in the Cariboo Gold District of central British Columbia, Canada and is accessible by highway and logging roads year round. Further assaying from the remaining 37 holes is underway and results are expected shortly.
"Our geological team continues to focus on modelling the deposit to determine the full potential of the system and we are pleased with the success of the drill program to date," commented Richard Barclay, President & CEO of Hawthorne.
Of interest, DDH FG08-322C intersected 39.77 metres grading 0.952 g/t Au, including 8.59 metres grading 2.528 g/t Au, and DDH FG08-323C intersected 41.93 metres grading 1.503 g/t Au, including 7.00 metres grading 5.909 g/t Au and demonstrated that mineralization continues to depth. All drill holes intersected estimated true width of the mineralized zones. Historical drilling completed in the 1980s and 1990s focused only on defining a mineralized zone close to surface. Hawthorne's 2007 and 2008 drilling campaigns have demonstrated that mineralization does continue to depth and also extended the known width of the mineralized zone. The goal of the drill program is to work towards the definition of a National Instrument 43-101 compliant gold resource at Frasergold.
"In the 1980s and 1990s our geological teams focused on defining a near surface resource and never fully explored the deposit to depth. Hawthorne is making significant progress at understanding the magnitude of the mineralization that extends for approximately ten kilometres," stated John J. O'Neill, CEO and President of Eureka.
Highlights from the drill holes are listed in the table given below:
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Hole No.
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From
(m)
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To
(m)
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Length
(m)
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Au
g/t
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FG08-312C
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102.21
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128.57
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26.36
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0.892
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includes
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121.04
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128.57
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7.53
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2.351
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|
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FG08-314C
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143.87
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180.89
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37.02
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0.832
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includes
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145.39
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152.34
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6.95
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4.334
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FG08-317C
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209.09
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228.20
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19.11
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0.498
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includes
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222.98
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228.20
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5.22
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1.079
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(m)
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(m)
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(m)
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g/t
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FG08-318C
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105.35
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172.75
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67.40
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0.527
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includes
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157.78
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167.30
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9.52
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1.444
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FG08-320C
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107.49
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141.57
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34.08
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0.902
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includes
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107.49
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115.10
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7.61
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2.850
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FG08-321C
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132.20
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165.90
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33.70
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0.397
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includes
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158.44
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165.90
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7.46
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0.845
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FG08-322C
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130.32
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170.09
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39.77
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0.952
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includes
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140.06
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148.65
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8.59
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2.528
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FG08-323C
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105.77
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147.70
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41.93
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1.503
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includes
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108.60
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115.60
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7.00
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5.909
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FG08-325C
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147.15
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190.09
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42.94
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0.802
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includes
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164.87
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167.92
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3.05
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2.871
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FG08-329C
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132.90
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134.92
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2.02
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5.200
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FG08-331C
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123.00
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155.45
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32.45
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0.687
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includes
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124.05
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136.20
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12.15
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1.142
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FG08-332C
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127.02
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200.61
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73.59
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0.444
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includes
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157.56
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163.37
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5.81
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1.204
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FG08-349C and FG08-310C No Significant Intersections
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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 or the Company at or toll free at , or you can visit Hawthorne's website at hawthornegold.com. For more information on Eureka, contact John J. O'Neill at 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.
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You can view the Previous News Releases item: Tue Feb 3, 2009, Soil Sampling Program Yields Highly Anomalous Zone 1,000 Metres Northwest of Main Zone at Frasergold Property
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