Eureka Resources Plans Luxor, Tak Geophysics for Q2

 
Eureka Resources (TSXV:EUK) has provided a summary of its past year’s accomplishments and an indication of plans for 2017.
Since assuming management of Eureka in June, 2015, the company has achieved some significant milestones. Michael Sweatman, the Company’s president, stated, “Despite a volatile market and continued challenges in the capital markets we have achieved significant steps building our portfolio of properties.”
The Company plans to advance on several fronts during 2017, adding to our geological database on our properties and conducting a number of initiatives, these include:

• Geophysics Luxor Project and TAK property Yukon Q2 2017
• Geology and drilling at Gold Creek Q2 and Q3 2017 to earn our 100% interest
• Drilling at Gemini in March 2017
• Additional property acquisitions possible

Highlights from 2015-16

• Share price was 0.04 October 2015 Financial Year end today its 0.10 increase 250%
• Market cap was $1,095,889 at Oct 31 2015 $5,073,097 today over 4 times increase
• Increased from 1 property October 2015 to 4 today
• Optioned 1 property to Canarc (FG) $3,000,000 to be spent to earn 75%
• Earned 50% interest in the Gemini Lithium property
• Earned 49% interest in Gold Creek BC property 36,000 hectares with the ability to increase to 100%
• Purchased 100% interest in approximately 10,000 Hectares in the heart of historic Klondike

The Company announces that, pursuant to its Stock Option Plan, it has granted stock options to certain directors, employees and consultants of the Company to purchase an aggregate 950,000 common shares in the capital of the Company at an exercise price of $0.13 per share which expire on January 16, 2022.
ABOUT EUREKA
Gold projects include the FG property in the Cariboo area of central British Columbia having an indicated resource of 376,000 ounces of gold and an inferred resource of 634,900 ounces of gold and the Gold Creek gold property in the gold belt of the Company’s FG project. The FG project is an advanced stage gold project, currently under option to Canarc Resource Corp.
The Gold Creek property is a grass-roots project located next to and with similar geology to Spanish Mountain.
Eureka has recently concluded the purchase of the Luxor project in the famous and very active Dawson Range Gold belt of western Yukon Territory.
The Company has a pending acquisition of the TAK property which is subject only to regulatory approval
Eureka owns a 50% interest in the Gemini lithium brine project located in the Lida Valley, approximately 40 km (26 miles) south of the Clayton Valley, which contains North America’s only producing lithium deposit. Drilling is anticipated to commence in 2017. The drilling has been delayed because of the success of our partners Nevada Sunrise and Advantage Lithium who have elected to retain the drilling crew at their Clayton Northeast project (see AAL and NEV news releases December 2016).
John R. Kerr, P.Eng., is the Company’s designated Qualified Person for this news release within the meaning of NI 43-101 and has reviewed and approved the technical information described in this news release.
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