February 17, 2009
Hawthorne Assays 58.24 metres Averaging 1.017 g/t Au Near Surface
Hawthorne Gold Corp. (“Hawthorne”) (TSX-V: HGC; US: HWTHF) and Eureka Resources Inc. (“Eureka”) (TSX-V: EUK)
are pleased to announce the results from 15 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 is 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 22 holes is underway and results are expected shortly.
“Hawthorne continues to identify new zones of interest close to surface within the Main Zone, and drilling has increased the gold system to depth. As disclosed in the Company’s press release dated February 5, 2009, the Company identified new mineralization down dip from historical drilling and the mineralized zone continues to increase in size. The Company is currently building a geological model to fully understand the deposit as it works towards the definition of a National Instrument 43-101 compliant resource estimate at Frasergold,” commented Richard Barclay, President & CEO of Hawthorne.
Of interest, DDH FG08-346C intersected 19.70 metres grading 1.098 g/t Au, including 4.45 metres grading 4.000 g/t Au
, and DDH FG08-357C intersected 58.24 metres grading 1.017 g/t Au, including 10.50 metres grading 3.858 g/t Au
and demonstrated that mineralization continues up dip and to depth. All drill holes intersected estimated true width of the mineralized zones. Drilling also demonstrates that mineralization continues as a wider zone than previously defined by historical drilling, although the extension is at a lower grade. Several of the up dip holes highlight the potential to develop a potential resource by increasing the known width of the known mineralized in the Main Zone and show additional mineralized zones to depth.
“Eureka focused on shallow drilling in the 1980s and 1990s and the true size of the gold system remains unknown. Hawthorne continues to build upon Eureka’s success by expanding the known mineralization in the Main Zone,” stated John J. O’Neill, CEO and President of Eureka.
Highlights of the assay results are presented below:
FG08-338C, FG08-337C, FG08-344C
No Significant Intersections
For lab and assay procedures see news release dated January 28, 2009.
Michael Petrina, P.Eng., Hawthorne’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 1-866-869-8072 or the Company at (604) 629-1505 or toll free at 1-888-629-1505, or you can visit Hawthorne’s website at www.hawthornegold.com
. For more information on Eureka, contact John J. O’Neill at (604) 608-6154 or you can visit Eureka’s website at www.eurekaresourcesinc.com
ON BEHALF OF
HAWTHORNE GOLD CORP.
“Richard J. Barclay”
President & CEO
ON BEHALF OF
EUREKA RESOURCES INC.
“John J. O’Neill”
President & CEOCertain 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.
You can view the Next News item:February 19th, 2009, Hawthorne Assays 82.28 Metres Grading 0.754 g/t Au at Frasergold
You can view the Previous News item:February 5th, 2009, 2008 Drilling Increases Thickness of Main Zone and Confirms Mineralization Continues to Depth at Frasergold
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