Eagle Hill Intersects 10.59 g/t Gold Over 24.0 Meters and Expands Near Surface Gold Mineralization
September 27 2012 - 7:30AM
Marketwired Canada
Eagle Hill Exploration Corporation (TSX VENTURE:EAG) ("Eagle Hill" or the
"Company") is pleased to release new assay results from its current drill
program targeting the extensions of the Windfall Lake Gold Deposit in
Northwestern Quebec. These results are part of an ongoing drill program designed
to expand the size of the mineral resource estimate published in July 2012 that
contained 538,000 ounces in the indicated category and 822,000 ounces in the
inferred category.
This part of the drilling program is designed to expand the size of the thick,
near surface, rich gold mineralization sitting within the first 100 meters from
surface and referred to as the Zone 27 Upper Extension. Drill hole EAG-12-418
returned 10.59 g/t gold over 24.0 meters from an altered porphyry dyke
cross-cutting a rhyolite unit at only 60 meters below the surface on section
2100 E. The individual assay results for this interval are listed on the
Company's website along with the pierce point of the drillhole is illustrated on
the longsection available at www.eaglehillexploration.com/sections.
Two other drill holes tested the eastern extension of the gold mineralization on
section 2800 E. Drill hole EAG-12-413 intersected a wide mineralized interval
assaying 3.1 g/t gold over 26.3 meters at only 50 meters below surface. Drill
hole EAG-12-414 intersected the depth extension of the wide zone reported above
and assayed 6.65 g/t gold over 3.0 meters. The two intersections are located 60
meters to the southeast of Zone 27 and occur in a porphyry dyke. These gold
intersections indicate the possibility for an additional near surface zone,
similar to the Zone 27 Upper Extension.
The results of the current drill program, initiated in late May 2012, continue
to fulfill the objective set for this drill program by discovering additional
gold mineralization to increase the size of the mineral resource at Windfall
Lake.
The gold mineralized zones defined to date at Windfall Lake cover a lateral
extension of more than 700 meters and include, from South to North, the Caribou
South zone, the Caribou zone, the Mink zone, Zone 27 South, Zone 27, the Mallard
zone, and the Mallard North zone; all included in the Main Zone of the July 2012
mineral resource estimation. All the zones are near vertical and vary in
thickness between 2 meters and 35 meters. In addition to the near surface gold
mineralization present at Windfall, recent drilling has demonstrated that
mineralized zones continue to a depth of 770 meters below the surface with
intercepts such as 8.9 g/t Au over 14.0 meters and 5.5 g/t Au over 15.0 meters
below the Red Dog intrusion (March 1, 2012 press release).
A map of the Windfall Lake property outlining the location of the gold zones,
drill holes and areas of potential expansion, together with cross-sections, a
longitudinal section and pictures of core showing the mineralization style have
been posted on Eagle Hill's website at www.eaglehillexploration.com/sections.
The following table shows the most significant assay results discussed in this
press release.
---------------------------------------------------------------------------
Hole
number From To Assay Comments
---------------------------------------------------------------------------
EAG-12-411 No significant result
---------------------------------------------------------------------------
EAG-12-412 No significant result
---------------------------------------------------------------------------
64.0 90.3 3.1 g/t Au over 26.3 m
------------------------------------------
Incl. 65.80 66.5 9.21 g/t Au over 0.7 m
EAG-12-413 ------------------------------------------ South of Zone 27
Incl. 78.60 79.0 12.9 g/t Au over 0.4 m
------------------------------------------
Incl. 87.70 90.3 16.36 g/t Au over 2.6 m
---------------------------------------------------------------------------
71.3 72.0 6.67 g/t Au over 0.7 m Isolated intercept
----------------------------------------------------------------
EAG-12-414 129.0 132.0 6.65 g/t Au over 3.0 m South of Zone 27, 45
m below EAG-12-413
intercept
---------------------------------------------------------------------------
EAG-12-415 154.0 155.4 5.07 g/t over 1.4 m Isolated intercept
---------------------------------------------------------------------------
116.8 117.3 8.28 g/t Au over 0.5 m Pyrite stockwork
----------------------------------------------------------------
EAG-12-416 231.0 232.0 32.1 g/t Au over 1.0m Isolated intercept
----------------------------------------------------------------
476.8 478.0 7.13 g/t over 1.2 m Zone 27 at depth
---------------------------------------------------------------------------
EAG-12-417 Assays pending
---------------------------------------------------------------------------
76.0 100.0 10.59 g/t Au over 24.0 m
------------------------------------------ Mineralized porphyry
EAG-12-418 incl. 80.0 83.9 12.25 g/t Au over 3.9 m dyke in the Upper
------------------------------------------ Extension of Zone 27
incl. 90.3 95.5 34.39 g/t Au over 5.2 m
---------------------------------------------------------------------------
The true widths are interpreted to be approximately 60 per cent of reported
width.
Gold analyses reported in this release were performed by standard fire assay
using a 30-gram charge with atomic absorption finish and a gravimetric finish
for assays greater than 10 grams per tonne and by metallic sieve method for
samples containing significant amounts of pyrite or visible gold. All assays
were performed by ALS Chemex Laboratory Group, in Val d'Or, Que. Sampling and
analytical procedures are subject to a comprehensive quality assurance and
quality control program. The QA-QC program includes duplicate samples, blanks
and analytical standards.
About the Windfall Lake Property
The Windfall Lake Property is comprised of 362 contiguous claims (over 12,000
hectares) in the Abitibi mineralized belt of northern Quebec. This area between
Val-d'Or and Chibougamau is known for its gold and copper production and
excellent infrastructure for exploration and mining. Historically, the Windfall
Lake Property has had extensive grassroots exploration work. Along with its
independently acquired claims at the Windfall Lake Property, Eagle Hill has also
signed options with Murgor Resources Inc., Cliffs Natural Resources Inc.
(formerly, Freewest Resources Canada Inc.), and Noront Resources Inc. to acquire
the Windfall Lake Property. During July 2012, the Company received its second
mineral resource estimate, the results of which are displayed in the table
below:
---------------------------------------------------------------------------
Quantity ('000 tonnes) Grade Gold (g/t) Contained Gold (ounces)
---------------------------------------------------------------------------
Indicated 1,665 10.05 538,000
---------------------------------------------------------------------------
Inferred 2,906 8.76 822,000
---------------------------------------------------------------------------
Jean-Philippe Desrochers, Ph.D., P.Geo., is a qualified person registered in
Quebec as defined by NI-43-101 and has reviewed the technical information that
this press release contains.
About Eagle Hill Exploration Corporation
Eagle Hill Exploration Corporation is a Canadian mineral exploration company
focused on the exploration and development of gold and precious metal prospects.
The Company is becoming an advanced stage gold exploration company with its
systematic drilling of the Windfall Lake high grade gold project, located in
Urban Township, Quebec, between Val-d'Or and Chibougamau. Eagle Hill seeks
projects that contain or have potential to have large resource potential. The
Company's website at www.eaglehillexploration.com and public filings at
www.sedar.com provide additional information on its properties and other
information with respect to its management and operations.
ON BEHALF OF THE BOARD,
P. Bradley Kitchen, President
FORWARD-LOOKING STATEMENTS
Statements in this news release, which are not purely historical, are
forward-looking statements within the meaning of applicable United States and
Canadian securities laws, including any statements regarding beliefs, plans,
expectations or intentions regarding the future. These statements involve risks
and uncertainties which could cause actual results to differ materially from
those in the forward-looking statements contained herein. Such risks and
uncertainties may include, but are not limited to, the ability to obtain
additional financing, title to mineral properties, the ability to manage growth,
acquisitions of technology, equipment or human resources, the effect of economic
and business conditions, the ability to attract and retain skilled personnel,
the risks inherent in exploration and factors outside the control of the
Company. These forward-looking statements are made as of the date of this news
release, and the Company assumes no obligation to update the forward-looking
statements or to update the reasons why actual results could differ from those
projected in the forward-looking statements. Although the Company believes that
the beliefs, plans, expectations and intentions contained in this news release
are reasonable, there can be no assurance those beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consider all of the
information set forth herein and should also refer to the risk factors disclosed
in the Company's most recent Annual Information Form filed on SEDAR which is
available at www.sedar.com. This news release shall not constitute an offer to
sell or the solicitation of an offer to buy securities.
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