Eagle Hill's Fall 2013 Drilling Program Discovers Extension to Main Zone at Windfall Lake Gold Project
November 05 2013 - 5:00AM
Marketwired Canada
Eagle Hill Exploration Corporation (TSX VENTURE:EAG)(OTCQX:EHECF)(FRANKFURT:EH0)
("Eagle Hill" or the "Company") is pleased to announce first results from the
Company's fall 2013 drilling program. The Company drilled three sections,
stepping out 150, 300 and 500 metres along strike to the southwest of the Main
Zone gold mineralization. Each section intersected a number of high-grade gold
intervals, confirming the potential to extend the known gold resource in this
direction.
The fall 2013 diamond drill program started on September 12 with the objective
of completing a 25,000-metre program by year-end, focused on expanding the
existing mineral resource. The Company drilled 11 holes (4,821 metres) to test
geophysical anomalies southwest of the tested limit of the Main Zone. Drill
intercepts have demonstrated the presence of pyritic stockworks similar to the
Main Zone, and assay results have confirmed significant gold mineralization in
each section. Results received to date are summarized in Table 1.
Highlight intersections include:
Section 1825 (150 metres SW of Main Zone)
EAG-13-472 6.58 g/t gold over 3.5 m from 765.5 m
inc. 13.2 g/t gold over 0.9 m from 767.3 m
4.34 g/t gold over 6.6 m from 1,030.0 m
inc. 9.5 g/t gold over 1.8 m from 1,030.0 m
and 10.4 g/t gold over 0.8 m from 1,035.8 m
EAG-13-478 3.01 g/t gold over 10.2 m from 561.0 m
inc. 9.05 g/t gold over 0.4 m from 561.0 m
and 11.1 g/t gold over 1.0 m from 563.0 m
EAG-13-481 250.0 g/t gold over 0.5 m from 197.5 m
Section 1700 (300 metres SW of Main Zone)
EAG-13-471 8.44 g/t gold over 0.9 m from 240.3 m
EAG-13-479 131.0 g/t gold over 0.6 m from 40.4 m
Section 1500 (500 metres SW of Main Zone)
EAG-13-473 4.66 g/t gold over 0.5 m @ from 214.8 m
"This first round of wide-spaced drilling to the southwest of the Main Zone is
very encouraging, with gold mineralization in every section, a number of
high-grade gold intervals and some wide mineralized intersections," said Dr.
Mike Andrews, Director and Interim President of Eagle Hill. "These results
support our hypothesis, based on geophysics of the area and limited previous
drilling, that mineralization continues to the southwest of the Main Zone."
The three diamond drill rigs have been relocated to the Main Zone to focus on
expanding the strike length of the major resource lenses (the Zone 27, Caribou,
Mink and Mallard zones). Zone 27 has more than 700 metres strike length of
continuous gold mineralization, with highlight intersections including 23.8 g/t
gold over 25.0 metres (hole EAG-12-318), 14.2 g/t gold over 52.0 metres (hole
EAG-10-196) and 12.22 g/t gold over 21.0 metres (hole EAG-11-259).(1) The
Company plans to drill 14 holes around Zone 27 to test lateral extensions of the
higher grade and thicker gold shoots, along with limited infill drilling, and
also plans to drill a total of 32 holes to test the lateral strike extensions
the Caribou, Mink and Mallard zones.
A down-hole induced polarization geophysics program is underway to identify
possible depth extensions of gold mineralized lenses below the Main Zone.
Previous drilling in this area identified 15.34 g/t gold over 11.0 metres at a
depth of 870 metres.(1)
Eagle Hill will have more than 50,000 metres of new drilling to incorporate into
an updated resource estimate in early 2014, with 106 holes totalling 29,208
metres drilled since the 2012 resource estimate and the addition of 25,000
metres from the current program.
To view the figure associated with this press release, please visit the
following link: http://media3.marketwire.com/docs/eagl1105.pdf
On Behalf of the Board of Directors
John Proust
Chairman and Interim CEO
About the Windfall Lake Gold Project
The Windfall Lake gold deposit comprises a number of lenses of pyritic
stockworks and shears hosted in Archean felsic and intermediate volcanics
situated in the Urban-Barry Greenstone Belt, approximately 200 km northeast of
Val d'Or, Quebec. SRK Consulting (Canada) Inc. completed a National Instrument
43-101 compliant resource estimate for Eagle Hill in July 2012 based on
historical drilling by Eagle Hill and previous operators. The estimated resource
comprises 1,665,000 tonnes at 10.05 g/t gold (538,000 ounces) in the indicated
category and 2,906,000 tonnes at 8.76 g/t gold (822,000 ounces) in the inferred
category. The bulk of the mineralization occurs in the Main Zone, a
southwest/northeast trending zone of stacked mineralized lenses, measuring
approximately 600 metres wide and at least 1,400 metres long.
About Eagle Hill Exploration Corporation
Eagle Hill Exploration Corporation is a Canadian mineral exploration company
focused on the exploration and development of the high-grade Windfall Lake Gold
Deposit, located between Val-d'Or and Chibougamau in Quebec. Southern Arc
Minerals and Dundee Corporation each hold a 26.14% interest in Eagle Hill and
recently invested an aggregate of $12 million to consolidate ownership of the
property and fund an aggressive exploration program. More information is
available at www.eaglehillexploration.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Qualified Person
The technical information in this document has been reviewed by Eagle Hill's
Vice President Exploration, Jean-Philippe Desrochers, PhD, PGeo, who has
sufficient experience relevant to the style of mineralization under
consideration and qualifies as a Qualified Person as defined by National
Instrument 43-101. The drill program and sampling protocol is managed by Eagle
Hill under the supervision of Jean-Philippe Desrochers. The diamond drill holes
are drilled at NQ sizes and core recovery to date has averaged better than
95.0%. Half core is cut by rock saw and is generally sampled using nominal
1-metre intervals; however, sample intervals vary according to geological
contacts and have ranged between 0.3 to 1.5 metres in length. Two quality
control samples (one blank and one certified reference material) are inserted
into each batch of 20 samples. All assays were performed by ALS Chemex
Laboratory Group, in Val d'Or, Quebec. The half core samples are securely
transported from the project site to the ALS Chemex laboratory by Eagle Hill
personnel. 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. In addition, an Aqua regia digestion with ICP-AES finish is used to
analyse a full suite of elements including silver and base metals.
Cautionary Note Regarding Forward-looking Statements
This document contains certain forward-looking information and forward-looking
statements within the meaning of applicable securities legislation (collectively
"forward-looking statements"). The use of any of the words "will", "plans",
"objective", "expand", "potential" and similar expressions are intended to
identify forward-looking statements. These statements involve known and unknown
risks, uncertainties and other factors that may cause actual results or events
to differ materially from those anticipated in such forward-looking statements.
Such forward-looking statements should not be unduly relied upon. This document
contains forward-looking statements and assumptions pertaining to the following:
uncertainty involving resource estimates and the ability to extract those
resources economically, or at all; uncertainty involving drilling programs and
the Company's ability to expand and upgrade existing resource estimates; the
regulatory process and actions; the need to work with local communities and
authorities to advance the properties; the need to work with Dundee and Southern
Arc to advance the property; technical issues; new legislation; competitive
factors and conditions; uncertainties resulting from potential delays or changes
in plans; the occurrence of unexpected events; and the Company's ability to
execute and implement future plans. Actual results achieved may vary from the
information provided herein as a result of numerous known and unknown risks and
uncertainties and other factors, including uncertainty related to drill results
and the inclusion of drill results in future resource estimates for the
property. The Company believes the expectations reflected in those
forward-looking statements are reasonable, but no assurance can be given that
these expectations will prove to be correct.
Table 1 - Windfall Lake Gold Deposit Fall 2013 Drill Program - Southwest Stepout
Drilling - Summary Results
----------------------------------------------------------------------------
Total Inter-
Sec- Depth Azi- From To val Gold
Drill Hole tion (m) Coordinates muth Dip (m) (m) (m) (g/t)
---------------
East North
----------------------------------------------------------------------------
EAG-13-472 1825 1119.0 451938 5434102 330.0 -48.0 549 550.1 1.1 1.79
724 725 1.0 1.23
765.4 768.9 3.5 6.58
including 765.4 765.8 0.4 10.6
and 767.3 768.2 0.9 13.2
787.7 788.6 0.9 4.26
799.8 803.3 3.5 7.45
including 799.8 800.5 0.7 11.4
and 801.7 802.9 1.2 14.7
1030.0 1036.6 6.6 4.34
including 1030.0 1031.8 9.5 1.8
and 1035.8 1036.6 10.4 0.8
----------------------------------------------------------------------------
EAG-13-478 1825 686.0 451821 5434321 328.6 -46.5 519 519.4 0.4 1.71
561 571.2 10.2 3.01
including 561 561.4 0.4 9.05
and 563 564 1.0 11.1
and 570.8 571.2 0.4 8.17
----------------------------------------------------------------------------
EAG-13-481 1825 401.0 451619 5434736 330.0 -45.0 197.5 198 0.5 250.0
----------------------------------------------------------------------------
No Significant
EAG-13-487 1825 141.0 451778 5434404 330.0 -55.0 Intersections
----------------------------------------------------------------------------
EAG-13-471 1700 306.0 451718 5434206 330.0 -45.0 158.4 158.7 0.3 1.88
198.0 199.0 1.0 2.30
238.0 244.0 6.0 2.18
including 240.3 241.2 0.9 8.44
----------------------------------------------------------------------------
EAG-13-474 1700 324.0 451641 5434343 329.3 -45.5 21.7 24.0 2.3 1.91
287.0 290.0 3.0 3.18
including 287.0 287.6 0.6 8.35
----------------------------------------------------------------------------
EAG-13-476 1700 378.0 451558 5434489 330.0 -45.0 195.3 195.8 0.5 7.72
----------------------------------------------------------------------------
EAG-13-479 1700 396.0 451517 5434561 330.0 -45.0 40.0 43.0 3.0 26.9
including 40.4 41.0 0.6 131.0
115.4 115.9 0.5 10.7
----------------------------------------------------------------------------
EAG-13-470 1500 414.0 451543 5434092 330.0 -45.0 349.4 349.9 0.5 1.32
----------------------------------------------------------------------------
EAG-13-473 1500 357.0 451417 5434330 330.0 -45.0 174.0 175.6 1.6 1.11
214.8 215.3 0.5 4.66
296.6 297.7 1.1 2.18
----------------------------------------------------------------------------
EAG-13-475 1500 299.0 451358 5434438 330.0 -45.0 56.0 57.0 1.0 1.49
231.0 234.0 3.0 1.61
----------------------------------------------------------------------------
(1) All drill results have been previously disseminated by press release and are
available on SEDAR and on Eagle Hill's website.
FOR FURTHER INFORMATION PLEASE CONTACT:
Eagle Hill Exploration Corporation
Rhylin Bailie
Vice President, Communications & Investor Relations
604-697-5791
info@eaglehillexploration.com
(TSXV:EAG)
Historical Stock Chart
From Jun 2024 to Jul 2024
(TSXV:EAG)
Historical Stock Chart
From Jul 2023 to Jul 2024
