Categories: General Market Commentary
Topics: General Market Commentary

Gold Nugget Discovery Guiding the Drills

Mike Fagan
by Mike Fagan

E79 Resources (CSE: ESNR) – currently trading below C$0.85 per share – has announced the discovery of gold nuggets at its flagship Beaufort Gold Project in Victorian goldfields, Australia. 

The company’s field team has identified the likely source of the nuggets, and is immediately following up with a soil grid sampling program with the objective of identifying additional targets to pursue in Phase 1 drilling.
 

e79 Beaufort Project

E79 will be the first company to conduct an extensive exploration campaign at Beaufort to define primary gold targets over the potential source areas of the historical alluvial gold production.

E79’s president & CEO – whom you’ll be hearing more from in a moment – stated via press release:

“With over one million ounces of reported historic alluvial gold production from the target area and no hardrock source yet to be identified, the recovery of a centimetre-scale gold nugget from our priority areas provides a lot of encouragement and excitement to the exploration effort. The size and nature of the nuggets point to a local source. We are excited that our work is already narrowing into a primary target area. We plan to follow up on this work as soon as possible and anticipate we will define new high-priority targets to be considered for drilling.”

E79 is targeting Fosterville-type mineralization in Victorian goldfields, Australia, via its two primary projects: Beaufort and Myrtleford. In between the two projects is Kirkland Lake’s Fosterville Mine — one of the world’s highest-grade gold mines at an incredible 17.9 grams per tonne gold.

victorian-gold-fields


E79 offers speculators an opportunity to participate in not one but two early-stage gold exploration projects in a red-hot mining address where the drills will ultimately tell the story.

Our own Gerardo Del Real of Junior Resource Monthly and Junior Resource Trader recently caught up with E79 CEO, Rory Quinn, to discuss the new discovery along with next-steps to advance the project. You can listen in by clicking here.

You can also find more information on E79 Resources at its corporate website.

Yours in profits,

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest

Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.