Featured Companies: E79 Resources
E79 Resources (CSE: ESNR)(OTC: ESVNF) CEO Rory Quinn on Start of Phase-2 Drilling at Happy Valley Gold Prospect, Victoria, Australia; Extending Spectacular High-Grade Intercepts At-Depth
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president and CEO of E79 Resources — Mr. Rory Quinn. Rory, how are you today?
Rory Quinn: Very good, Gerardo. Thanks for having me.
Gerardo Del Real: Thanks for coming back on. You had some pretty significant news today. I know it's a tough day in the gold space but we all believe that's going to turn. The headline reads:
E79 Resources Commences Phase-2 Drilling and Confirms Results at Happy Valley Gold Prospect in Victoria, Australia.
You also applied for an additional license last month in July. So I wanted to touch on both pieces of news because they go hand-in-hand. And I think we're starting to really set the table for what should be an exciting end of the year for the company.
Rory Quinn: Yeah, that's right. And I think the key takeaway from today's release is, first of all, we're back drilling at Happy Valley where we've had some recent success and some really spectacular high-grade gold intercepts. We'll be working there to test for continuity.
And moving forward, we've shown that on the Phase-1 drilling — Holes 2 & 3 — that those numbers that we initially reported are quite repeatable and, therefore, are quite good numbers. When we've looked at it… done various analytical studies on it… and we generally arrive at the same numbers… I think we can feel very comfortable with those numbers.
And then, obviously, doing some of the early met work — 99% of the gold is workable using very conventional methods for processing.
Gerardo Del Real: The published assay values being repeatable is critical in this part of the world, right, because if you're going to get some skepticism or some pushback — it's going to be around the nuggety effect. And we talked a bit off air there… I know that's important.
The met work at this early stage is very important as well, and you mentioned the spectacular intersection. Just to remind and refresh everybody's memory — it's 11.5 meters of 160.44 grams per tonne gold, right?
Rory Quinn: That's right. So we're going to be exploring around that area; exploring for continuity there. That's important. So continuity along strike; continuity at-depth. We're also doing a lot of work locally and regionally in that area as far as doing testing and soil sampling.
It's been a busy time as far as ramping up there in the country. I just added a new geologist. We've doubled our soil sampling capacity from one team to two teams, and I'm also interviewing for country manager.
So as we increase our presence in the country, as we increase our number of folks and do boots-on-the-ground… we can increase our sampling… we can increase our targets. Then, we can increase our team's drilling; more rigs, more results.
Gerardo Del Real: Perfect. Drilling has commenced. How are things as it relates to COVID? I know the labs are backed up… it seems like everywhere right now. But obviously, you've been able to get the drill rig back — and you've got to be happy about that.
Rory Quinn: Definitely happy to get the drill rig back to Happy Valley. We were able to get Phase-1 drilling at Hole 4 complete. It's relatively simple to remobilize back to Happy Valley.
We are dealing with some winter and wet weather there but we're just plugging through. So we're well underway now at Happy Valley; Hole 6. We've got three holes planned now; 6, 7, and 8 and really looking forward to what those tell us.
We're drilling in the same area as we saw this really big intercept of 11.5 meters of 160 grams per tonne and quite optimistic that we'll see some more gold.
Gerardo Del Real: Understanding the structural controls with these types of deposits is really important. How is that coming along?
Rory Quinn: Yeah, that's going to take more drilling. We try to include as much geology in the releases as possible but it's still early-days. The more holes we put through this, the more understanding we're going to have. So that means having some larger step-outs but some smaller step-outs as well. And so we'll be doing both. And I think we'll get a better sense of the geology.
Gerardo Del Real: Fantastic. Looking forward to having you back on. It was good to catch up. Anything else to add to that, Rory?
Rory Quinn: No, that's great. Thanks, Gerardo.
Gerardo Del Real: Awesome. We'll chat again soon.
Rory Quinn: Alright… all the best.
Gerardo Del Real: Bye now.
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Rory Quinn: Bye-bye.