FG Gold Project
FG Gold Project, Cariboo Mining Division, British Columbia
The FG Gold Project (“FG Gold”) is located at the headwaters of the Horsefly River, 50 kms east of Horsefly, B.C. and consists of 30 contiguous claims (10,084 hectares). FG Gold is easily accessible by gravel road.
To date, over $15.0 million of exploration work has been completed on FG Gold, establishing a Measured and Indicated resource of 376,000 ounces of gold at an average grade of 0.776 g/t (using a 0.5 g/t cut-off), and an Inferred resource of 634,900 ounces of gold at an average grade of 0.718 g/t (using a 0.5 g/t cut-off). Mineralization has been outlined over a 3 km strike length, and additional mineralization could extend along an interpreted 10 km strike length. Further details on the gold resource can be found by clicking on the tab below - “NI 43-101 Technical Report, Frasergold Exploration Project”.
Eureka was originally founded by B.C. entrepreneur John J. (Jack) O’Neill who has been a steady presence on the British Columbia mineral exploration scene for over three decades. Our thanks go out to Jack and O’Neill family for their dedication and perseverance to the FG Project since founding Eureka.
July 27, 2015
CAUTION REGARDING FORWARD LOOKING INFORMATION Certain statements contained in this presentation by Eureka Resources Inc. (“Eureka”, or the “Company”) constitute forward looking information (“FLI”) and may be identified by the terms "may”, “expects to", ''projects”, “estimates", "plans", and other terms denoting future possibilities. FLI is based on management’s reasonable assumptions described in this presentation, and are subject to risks and uncertainties that could cause actual outcomes and results to differ materially from expected results. The future conduct of Eureka’s business and the feasibility of its mineral exploration properties are dependent upon a number of factors and there can be no assurance that the Company will be able to conduct its operations as contemplated and the accuracy of these statements cannot be guaranteed as they are subject to a variety of risks that are beyond the company’s ability to predict or control. The risks include, but are not limited to, the risks described in this presentation; the risks set out in Eureka’s disclosure documents and its annual, quarterly and current reports, the fact that exploration activities seldom result in the discovery of a commercially viable mineral resource and require significant amounts of capital to undertake and the other risks associated with start-up mineral exploration operations with insufficient liquidity and no historical profitability. Specifically, FLI includes the following: 1. Future exploration activities, which are dependent upon the Company acquiring the necessary equipment, personnel and supplies, continuing access to the property, and sufficient financing to carry out those plans. 2. Future resource potential, which assumes successful completion of exploration activities, geological models and expectations are correct, and economic factors which can affect the viability of extracting minerals, if any. 3. Current resource estimates, which are based on the assumptions set out herein, and are subject to the risk those assumptions are incorrect. 4. Geological conclusions, which are dependent on a number of factors including assumptions about continuity, grade and future commodity prices any of which can have a negative influence on viability or existence of a mineralized area. Accordingly, readers should not place undue reliance on such forward looking statements. Eureka disclaims any obligation to revise any forward looking statements as a result of information received after the fact or regarding future events. CAUTION REGARDING RESOURCE ESTIMATES u The 2015 FG resource estimate is based on a total of 160 diamond drill holes and 242 reverse circulation holes sampling a combined 49,691 metres. The drilling was completed by Eureka, and optionees, from 1983 to 1993 and Hawthorne Gold Group in 2007 and 2008. There has been no drilling since 2008. Three dimensional solids were determined for a high grade zone surrounded by a lower grade envelope and two less densely drilled extensions; one projecting the mineralization to the northwest and the other to the southeast. Individual drill hole assays were tagged, sample statistics were run and erratic high assays were capped for each zone. Uniform 5 metres down hole composites were formed and modeled using pairwise relative semivariograms. Blocks 10 x 10 x 5 metres in dimension were estimated for gold by a combination of ordinary and indicator kriging. The bulk density was established from 128 core samples measured at site. Blocks were classified as measured, indicated or inferred based on grade continuity as established from the semivariograms analysis. The estimates were based on the 2015 price of gold. Due to the uncertainty of Inferred Mineral Resources it cannot be assumed that all, or any part of this resource will be upgraded to an Indicated or Measured Resource as a result of continued exploration. To justify upgrading of the Mineral Resource to a Mineral Reserve, demonstrated economic viability is required. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. QUALIFIED PERSON The scientific and technical information contained herein has been reviewed and approved by John R. Kerr, P.Eng., a “Qualified Person” within the meaning of NI 43-101.