Eureka is earning a 100% interest in the Gold Creek project.
The Gold Creek project is located approximately 8 kms to the northwest of the Spanish Mountain deposit. The Spanish Mountain deposit has reported Measured and Indicated Resources of 3.5 million ounces (238 million tonnes grading .46 g/t gold) and Inferred Resources of a further 3.5 million ounces (311 million tonnes at .35 g/t gold).
Readers are cautioned that the above results should be considered historical in nature as the Company has not performed sufficient work to determine whether these results are compliant with the requirements of National Instrument 43-101.
Gold occurs at Gold Creek in the same Mesozoic Sedimentary package as at the Spanish Mountain deposit and the Company's FG deposit. These deposits are typical of Sediment Hosted Vein (“SHV”) deposits. It is important to note that SHV deposits and intrusive related deposits are some of the world’s largest gold deposits. In 2008, an exploration program conducted at Gold Creek by previous operators indicated that the mineralization encountered may include an intrusive related gold source.
There are numerous soil anomalies on the Gold Creek property over a 12 km strike length. Much of the property is covered by overburden and remains unexplored. Upcoming exploration at Gold Creek will be based upon the Company’s review of existing data and on a geochemical program conducted by the Company in fourth quarter of 2016.
Exploration targets on the Gold Creek property are gold-bearing quartz veins and gold-silver bearing strata-bound zones of quartz and carbonate-altered quartz-veins that occur in the basal, black phyllite metasedimentary and greywacke volcanic sequences such as observed in the Spanish Mountain deposit.
There are a number of significant factors that make Gold Creek a very attractive project including:
- Stable political jurisdiction
- Excellent local infrastructure
- Inexpensive grid power
- Proximity to significant deposits and operating mines