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Follow on Google News | Eldora Gold Resources News - Willow Creek Signs LOI to Acquire Historic Gold Property in PrestigiousEldora Gold Resources Canada News-Willow Creek Enterprises Inc. ("The Company," "Willow Creek") Willow Creek is pleased to announce that it has signed a Letter of Intent to acquire the Hercules property from Minquest
By: Eldora Gold Resources LTD. The historic Walker Lane Mineral Belt, western Nevada, is a highly mineralized trend that contains several world-class epithermal precious metals deposits, such as: the Comstock Lode (estimated production of 8.6 million ounces of gold and 192 million ounces of silver), Round Mountain (Barrick / Kinross)(over 10 million ounces of gold produced since 1906), Rawhide, Aurora, Goldfield mines, as well as porphyry copper deposits: Yerington (1.75 billion pounds of copper produced from 1953-1978 by Anaconda Copper Company), Eldora Gold Resources Canada News - The Hercules property gives Willow Creek access to one of the most prolific mining areas in the world. According to a report made by Global Geological Consultants (GGC)* in 2003, The Hercules prospect has direct analogies to the historic Comstock Lode deposit, which is located less than 10 miles to the north. While the Comstock Lode produced approximately $670,000,000 worth of gold and silver from 1860 to 1880, the Hercules Mine, located on the "Hercules" property, is estimated to have produced 5,000 oz of gold and 20,000 oz of silver during early, turn-of-the- "The company believes the Hercules property contains one of the most significant untested Comstock-type vein systems in the Western United States. With gold prices hovering well over $1,300.00 an ounce, and silver prices steadily climbing, the Hercules property offers a tremendous opportunity to our shareholders as we move forward," stated Terry Fields, President Willow Creek. Eldora Gold Resources Canada News - Management believes that in addition to its proximity to other major discoveries, the Hercules' physical location makes it an ideal property for exploration and development. Existing infrastructure, including manpower and accessibility for the Hercules property, is supported by the nearby city centers of Reno and Carson City. State highways and paved roads provide easy access, while moderate temperatures allow for year-round physical work on the property. As we approach the colder months, this physical attribute will allow us to continue our work as many others are forced to shut down their operations until the spring. Political support for the mining industry enjoyed by the state of Nevada was another determining factor for management when selecting the Hercules property. Favorable laws, positive safety regulations, and the lack of political unrest seen in many other parts of the world are among the main reasons that Nevada's gold production accounted for more than 79% of total U.S. production and 7.2% of the world's gold production in 2009 (Economic Overview of Nevada's Mineral Industry report; Nevada Mining Association) * Summary Report and Exploration Proposal on the Hercules Gold Prospect. Lyon Nevada, published January 24, 2003 by Geoffrey Goodall, P. Geo ** Nevada Bureau of Mines and Geology - Special Publication MI-2005 Eldora Gold Resources Canada News - This news release contains "forward-looking statements", as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, except for the historical information presented herein, matters discussed in this news release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as "estimate," "anticipate," This news release has been prepared by management of the company who takes full responsibility for its contents. Finra, the sec and the OTCBB neither approves nor disapproves the contents of this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. # # # Eldora Gold Resources Canada was founded by a group of experts in the mineral recovery and mining industry, whose focus is to provide accurate information, state of the art equipment and outstanding customer service. Eldora Gold has developed and is offering a proprietary separation technique for extracting mineral content from mining tailings. End
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