E79 drills 2.50 metres of 12.92 g/t gold at Myrtleford, Australia

E79 Resources Corp. [ESNR-CSE; ESVNF-OTCQB] received priority assay results from diamond drill holes HVD009 and HVD010 on the 100%-optioned Myrtleford exploration licence (EL) located in the Victorian goldfields, 40 km south of Victoria, Australia.

Highlights of the new drill hole results include 2.50 metres at 12.92 g/t gold from 306.50 metres, including 0.50 metres at 35.50 g/t gold (HVD010); and 2.65 metres at 7.94 g/t gold from 190.00 metres (HVD009).

Martin Pawlitschek, E79’s interim President and CEO, commented: “E79 Resources is extremely pleased with the continuation of high-grade assay results as we drill deeper and step out wider at Happy Valley. These results confirm that the gold system is not only open at depth but open laterally. Coupled with the observation of visible gold from HVD014, the system also appears to be open to the south-east which will be a focus for upcoming drill programs. With drilling continuing to indicate a robust mineralised system at Happy Valley and with new target areas being defined across the license area, management are planning to ramp up the drill program this year, with more rigs being commissioned to the Myrtleford project.”

The Happy Valley Prospect is situated in the south-eastern portion of the Company’s Exploration Licence EL006724 in Victoria, Australia and lies within a 12km long trend of historical workings. The Happy Valley Mining Centre has a documented historical production of 34,200 ounces of gold predominantly between 1866 – 1875, which produced at an average grade of ~31g/t Au. These high grades present E79 with an extremely attractive target. To date, only limited modern exploration has been conducted at this prospect.

Future activities include completion of surface mapping and rock-chip sampling program over the Happy Valley and Twist Creek Trends as well as ste-out drilling to define the mineralised system at further depth and along strike.

E79 Resources is focused on exploring for Fosterville-type mineralization at its Beaufort and Myrtleford properties in the Victorian Goldfields, Australia. At Beaufort, an opportunity exists to explore for a hard rock source of a major alluvial goldfield along a structure that is known to host gold in the region. The Myrtleford property represents the consolidation of an entire historic gold camp with over 70 past producing gold mines on the property, where the bulk of historic mining stopped at the water table.