TORONTO, Nov. 9, 2021 /CNW/ - American Eagle Gold Corp.
(TSXV: AE) ("American Eagle" or the
"Company") is pleased to announce that its drilling
program located at its flagship Golden Gate property, within the
Cortez Trend and adjacent to Barrick's Goldrush mine, will begin
soon. Drill pad construction is in progress, and the Company will
commence its 3,000-metre drill campaign shortly. The program's
objective is to intercept lower plate rocks, allowing the Company
to vector towards potential gold deposits within a similar geologic
environment as Barrick's Cortez
Hills and Goldrush deposits. VP of Exploration Mark
Bradley designed this drill campaign. While previously with
Barrick, he was credited with discovering Barrick's Goldrush Mine,
which hosts 15 million ounces and is slated to go into
production before the end of this year.
Watch interview with CEO Anthony Moreau discussing drill program
"We are excited to begin drilling at our Golden Gate Property,
which American Eagle consolidated, and forms the entire southern
extension of Barrick's Cortez facility. Our preceding
exploration work has given our team confidence in our targeting
within one of the few untested land packages in this region," said
American Eagle CEO Anthony
Moreau.
Highlights:
- Drilling will be focused at the Northern Cortez and Southern
Cortez targets, located in the footwall of the Cortez Fault zone,
~10km southeast of Barrick's Cortez
Hills mine and ~5km southwest of Barrick's Goldrush mine.
Click here to see regional aerial photos.
- The program aims to intercept lower plate rocks and identify
deep alteration and mineralization analogous to Barrick Gold's Goldrush, Fourile, and
Cortez Hills projects next door.
- American Eagle plans to retain its rig at the site and expand
its drill campaign upon the results of its drilling and further
geophysical work on its more than 7,000-acre property.
About American Eagle Gold Corp.
American Eagle Gold is traded on the TSX Venture Exchange under
the symbol 'AE' and is focused on exploring its flagship property,
Golden Gate. The property is strategically situated on the
Cortez Trend, which hosts three large Carlin-type gold deposits
operated by Barrick and Newmont's Joint Venture, Nevada Gold Mines (Pipeline, Cortez Hills and Goldrush). The property is
located 10 km south of Cortez Hills and 5 km south of Goldrush and
shows many of the same geological characteristics as at the two
deposit areas. Additionally, American Eagle Gold has optioned
the Cerros Rojos Property, located 150km south of Newmont's Long
Canyon mine in Nevada.
QP Statement
American Eagle's Vice President of
Exploration, Mark Bradley, B.Sc.,
M.Sc., P.Geo., a Certified Professional Geologist and 'qualified
person' for the purposes of Canada's National Instrument 43-101 Standards
of Disclosure for Mineral Properties, has verified and approved the
information contained in this news release.
For information and updates on American Eagle Gold, please
visit: www.americaneaglegold.ca
Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the TSX Venture Exchange
policies) accepts responsibility for the adequacy or accuracy of
this release. Certain information in this press release may contain
forward-looking statements. Forward-looking statements in this
press release include, but are not limited to, statements regarding
the planned work program on the Cerros Rojos Property, the timing
of the program milestones and TSX Venture Exchange approval of the
acquisition. This information is based on current expectations that
are subject to significant risks and uncertainties that are
difficult to predict. Therefore, actual results might differ
materially from results suggested in any forward-looking
statements. American Eagle Gold Corp. assumes no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those reflected in the forward
looking-statements unless and until required by securities laws
applicable to American Eagle Gold Corp. Additional
information identifying risks and uncertainties is contained in
filings by American Eagle Gold Corp. with Canadian securities
regulators, which filings are available under American Eagle Gold
Corp. profile at www.sedar.com.
SOURCE American Eagle Gold Corporation