News Releases
November 24, 2008
E-Energy Drill Program Cuts More Gold At Rivard Property, Red Lake
Vancouver, British Columbia, Canada, November 24, 2008- The Board of Directors of E-Energy Ventures Inc. (TSX-Venture: EEV, Frankfurt: D8F) (the “Company” or “E-Energy”) is pleased to announce the completion of its twelve-hole, 1,523-metre program of diamond drilling on its Rivard gold property, which is located 20 kilometres west of Red Lake, Ontario. Nine of the twelve drill holes encountered at least one vein containing free gold.
The 2008 drilling program was designed to test the main gold zone by drilling in a northwest direction, as previous drill holes were oriented at an acute angle to the trend of the formations. It also included two deep holes, as well as two holes on a possible northern extension of the main zone.
Mineralization on the Rivard property consists of broad, irregularly shaped zones of disseminated sulphides in heavily altered volcanic rocks. The sulphide zones typically carry low gold values, but are cut by multiple narrow quartz veins containing free gold, sometimes in spectacular concentrations.
At the Company’s Rivard Property, twenty-five separate veins containing visible gold were intersected in nine of the 2008 diamond drill holes. A total of 901 samples have been split and sent for chemical assaying and the Company is anticipating the results to be returned shortly.
The following assays are highlights of the drill results from the Company’s 2006 and 2007 drill program that returned such results as 125.59 g/T Au across 0.40 metre and 13.80 metres averaging 1.65 g/T Au.
Hole No. EEV 07-12:
• 13.8 metres at 1.65 grams of gold (Au) per tonne, including 1 metre at 13.65 grams/tonne.
Hole No. EEV 07-13:
• 4.7 metres at 1.47 grams Au per tonne, including 1.9 metres at 3.23 grams/tonne.
Hole No. EEV 07-15:
• 1.5 metres at 34.07 grams Au per tonne, including 0.4 metres at 125.59 grams/tonne.
Hole No. EEV 07-16:
• 1.0 metres at 1.98 grams Au per tonne.
• 1.0 metres at 7.11 grams Au per tonne.
Hole No. EEV 07-21:
• 7.0 metres at 1.56 grams Au per tonne, including 1.0 metres at 5.00 grams/tonne.
• 1.0 metres at 4.13 grams Au per tonne.
• 3.7 metres at 2.77 grams Au per tonne, including 1.0 metres at 8.96 grams/tonne.
Hole No. EEV 07-23:
• 4.0 metres at 1.53 grams Au per tonne.
Previous drilling on the Rivard property included 9.45 metres of 14.32 grams of gold per ton (g/T Au) in a hole drilled by Rubicon Minerals in 2003. Drilling by E-Energy in 2006 and 2007 continued to outline gold-bearing zones.
Technical information in this news release has been prepared by Colin Bowdidge, Ph.D., P.Geo., a Qualified Person as defined in NI 43-101.
On behalf of the Board of Directors,
Simon Tam
President and Director
Appendix – Chemical Assay Results of 2006 and 2007 Drill Program
| HOLE No. |
FROM
(metres) |
TO
(metres) |
CORE
LENGTH (metres)
|
Au
grams per tonne
|
| EEV 07-12 |
6.00 |
13.90 |
7.90 |
0.43 |
| |
12.30 |
13.30 |
1.00 |
1.30 |
| and |
19.40 |
27.00 |
7.60 |
0.64 |
| includes |
24.40 |
25.40 |
1.00 |
2.37 |
| and |
30.00 |
44.00 |
14.00 |
0.47 |
| includes |
31.70 |
32.10 |
0.40 |
1.38 |
| and |
33.10 |
34.00 |
0.90 |
1.56 |
| and |
94.20 |
108.00 |
13.80 |
1.65 |
| includes |
95.00 |
105.00 |
10.00 |
2.13 |
| includes |
101.00 |
105.00 |
4.00 |
4.64 |
| includes |
104.00 |
105.00 |
1.00 |
13.65 |
| and |
136.50 |
157.50 |
21.00 |
0.38 |
| includes |
139.50 |
140.50 |
1.00 |
1.28 |
| and |
155.50 |
157.50 |
2.00 |
1.20 |
| |
| EEV 07-13 |
26.00 |
26.80 |
0.80 |
1.00 |
| and |
50.10 |
53.70 |
3.60 |
0.55 |
| includes |
51.70 |
52.70 |
1.00 |
1.24 |
| and |
61.10 |
65.80 |
4.70 |
1.47 |
| includes |
61.10 |
63.00 |
1.90 |
3.23 |
| and |
86.40 |
111.00 |
24.60 |
0.48 |
| includes |
86.40 |
87.40 |
1.00 |
1.30 |
| and |
88.40 |
89.40 |
1.00 |
1.30 |
| and |
90.40 |
91.40 |
1.00 |
1.34 |
| and |
109.00 |
110.00 |
1.00 |
1.08 |
| and |
157.50 |
160.30 |
2.80 |
1.37 |
| |
| EEV 07-15 |
81.50 |
83.00 |
1.50 |
34.07 |
| includes |
81.90 |
82.30 |
0.40 |
125.59 |
| |
| EEV 07-16 |
54.00 |
55.00 |
1.00 |
1.98 |
| and |
68.00 |
69.00 |
1.00 |
7.11 |
| |
| EEV 07-20 |
92.00 |
92.50 |
0.50 |
1.20 |
| and |
101.90 |
102.40 |
0.50 |
1.13 |
| |
| EEV 07-21 |
96.00 |
103.00 |
7.00 |
1.56 |
| includes |
97.00 |
98.00 |
1.00 |
5.00 |
| and |
102.00 |
103.00 |
1.00 |
4.13 |
| and |
135.30 |
139.00 |
3.70 |
2.77 |
| includes |
138.00 |
139.00 |
1.00 |
8.96 |
| |
| EEV 07-23 |
100.60 |
104.60 |
4.00 |
1.53 |
Disclaimer:
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN ANY JURISDICTION. "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: THIS NEWS RELEASE CONTAINS FORWARD LOOKING STATEMENTS THAT ARE NOT HISTORICAL FACTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE SET FORTH IN OR IMPLIED HEREIN. |
