Eagle Hill Intersects 21.02 g/t Gold Over 4.8 Meters Showing Continued Strong Gold Results Near Surface
November 15 2012 - 8:59AM
Marketwired Canada
Eagle Hill Exploration Corporation (TSX VENTURE:EAG) ("Eagle Hill" or the
"Company") is pleased to announce additional assay results from its current
drill program at 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 released on July 25, 2012.
Near surface mineralization
Drilling on the Upper Extension of Zone 27 returned another significant gold
interval assaying 21.02 g/t Au over 4.8 meters in drill hole EAG-12-430 at 105
meters below surface. This drill hole corresponds to infill drilling designed to
confirm the local continuity of the near surface gold mineralization that is now
known over a strike-length of more than 500 meters. This intersection consists
of 2 to 20 percent pyrite in a typical sulphide stockwork containing tourmaline,
and associated with a porphyry dyke. The Zone 27 - Upper extension represents
the faulted off portion of Zone 27, and is located to the northwest of a narrow
fault splitting Zone 27 into two zones near the surface. Drill hole EAG-12-430
also intersected Zone 27 on the south side of the fault that returned 4.23 g/t
Au over 3.6 meters at 160 meters below surface.
"This new shallow drill hole demonstrates that the near surface gold
mineralization is consistent and shows good lateral continuity," stated Brad
Kitchen, President and Chief Executive Officer of Eagle Hill Exploration. "Eagle
Hill is waiting for winter conditions to commence its permitted ice drilling on
shallow lakes to the west and in the vicinity of section 2500 to expand the size
of the near surface mineral resource of the Windfall Lake gold deposit. This
mineralization should be easily accessed from the existing ramp."
Caribou Zone and Mink Zone
Additional drilling testing the eastern extension of the Caribou Zone returned
an intercept of 8.62 g/t Au over 5.5 meters in drill hole EAG-12-427. This
intercept is included in a broader interval assaying 3.42 g/t Au over 19.4
meters. Together, this intercept, and the intercept of 4.75 g/t Au over 3.4
meters published on November 6, 2012, confirms both an eastern and an at depth
extension of the Caribou zone.
The same drill hole intersected several high grade intervals in the immediate
hanging wall of the Mink zone with 37.0 g/t Au over 0.7 meters and 13.25 g/t Au
over 0.9 m. The Mink zone itself assayed 9.68 g/t Au over 1.1 meters at about
535 meters below surface.
The gold mineralized zones defined to date at Windfall Lake cover a lateral
extension of more than 725 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 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 that occur below the Red Dog intrusion continue to a depth of
770 meters below the surface with intercepts such as 8.9 g/t Au over 14.0
meters, 5.5 g/t Au over 15.0 meters, and 24.46 g/t Au over 7.4 meters (March 1,
2012 and November 6, 2012 press releases).
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, www.eaglehillexploration.com/sections.
The table shows the most significant assay results discussed in this press release.
--------------------------------------------------------------------------
Hole
number From To Assay Comments
--------------------------------------------------------------------------
EAG-12-426 71.00 72.00 297 g/t Au over Between zones
1.0 m
--------------------------------------------------------------------------
589.60 609.00 3.42 g/t Au over
19.4 m
-------------------------------------------
incl. 598.50 604.00 8.62 g/t Au over
5.5 m
------------------------------------------- Caribou zone
incl. 599.30 600.10 36.3 g/t Au over
0.8 m
-------------------------------------------
incl. 601.30 601.70 12.3 g/t Au over
0.4 m
---------------------------------------------------------------
EAG12-427 616.50 617.00 7.49 g/t Au over Between zones
0.5 m
---------------------------------------------------------------
702.70 703.40 37.0 g/t Au over Hangingwall of
0.7 m Mink Zone
---------------------------------------------------------------
714.10 715.00 13.25 g/t Au over Hangingwall of
0.9 m Mink Zone
---------------------------------------------------------------
717.60 718.30 6.94 g/t Au over Hangingwall of
0.7 m Mink Zone
---------------------------------------------------------------
720.20 721.30 9.68 g/t Au over Mink Zone
1.1 m
--------------------------------------------------------------------------
125.00 126.00 5.31 g/t Au over Between zones
1.0 m
EAG-12-428 ---------------------------------------------------------------
144.90 145.20 152 g/t Au over Between zones
0.3 m
--------------------------------------------------------------------------
116.00 118.20 6.66 g/t Au over Fault
2.2 m
EAG-12-429 ---------------------------------------------------------------
347.90 348.20 15.65 g/t Au over In quartz vein
0.3 m
--------------------------------------------------------------------------
132.40 137.20 21.02 g/t Au over
4.8 m
------------------------------------------- Zone 27 - upper
incl. 133.10 134.10 79.8 g/t Au over extension
1.0 m (north of the
------------------------------------------- fault)
incl. 136.50 137.20 15.85 g/t Au over
0.7 m
EAG-12-430 ---------------------------------------------------------------
198.70 202.30 4.23 g/t Au over
3.6 m
------------------------------------------- Zone 27 - upper
incl. 198.70 199.60 10.9 g/t Au over extension
0.9 m (south of the
------------------------------------------- fault)
incl. 201.60 202.30 7.13 g/t Au over
0.7 m
--------------------------------------------------------------------------
153.00 154.60 8.14 g/t Au over Between zones
1.6 m
EAG-12-431 ---------------------------------------------------------------
461.00 462.00 4.91 g/t Au over Between zones
1.0 m
--------------------------------------------------------------------------
EAG-12-432 11.70 12.10 5.25 g/t Au over Between zones
0.4 m
--------------------------------------------------------------------------
The true widths are interpreted to be approximately 70 percent of reported
width. The other drill holes of this sequence not presented in this table
returned only anomalous gold values or have assay results pending.
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.
Jean-Philippe Desrochers, PhD, PGeo, 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 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 Grade Gold Contained Gold
('000 tonnes) (g/t) (ounces)
------------------------------------------------------------------
Indicated 1,665 10.05 538,000
------------------------------------------------------------------
Inferred 2,906 8.76 822,000
------------------------------------------------------------------
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 set to become an advanced stage gold exploration company with its
acquisition 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
This release contains "forward-looking statements" within the meaning of
applicable Canadian securities legislation, including predictions, projections
and forecasts. Forward-looking statements include, but are not limited to,
statements that address activities, events or developments that the Company
expects or anticipates will or may occur in the future, including such things as
future business strategy, competitive strengths, goals, expansion, growth of the
Company's businesses, operations, plans and with respect to exploration results,
the timing and success of exploration activities generally, permitting time
lines, government regulation of exploration and mining operations, environmental
risks, title disputes or claims, limitations on insurance coverage, timing and
possible outcome of any pending litigation and timing and results of future
resource estimates or future economic studies.
Often, but not always, forward-looking statements can be identified by the use
of words such as "plans", "planning", "planned", "expects" or "looking forward",
"does not expect", "continues", "scheduled", "estimates", "forecasts",
"intends", "potential", "anticipates", "does not anticipate" or "belief" or
describes a "goal" or variation of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved.
Forward-looking statements are based on a number of material factors and
assumptions, including, the result of drilling and exploration activities, that
contracted parties provide goods and/or services on the agreed timeframes, that
equipment necessary for exploration is available as scheduled and does not incur
unforeseen break downs, that no labour shortages or delays are incurred, that
plant and equipment function as specified, that no unusual geological or
technical problems occur, and that laboratory and other related services are
available and perform as contracted. Forward-looking statements involve known
and unknown risks, future events, conditions, uncertainties and other factors
which may cause the actual results, performance or achievements to be materially
different from any future results, prediction, projection, forecast, performance
or achievements expressed or implied by the forward-looking statements. Such
factors include, among others, the interpretation and actual results of current
exploration activities; changes in project parameters as plans continue to be
refined; future prices of gold; possible variations in grade or recovery rates;
failure of equipment or processes to operate as anticipated; the failure of
contracted parties to perform; labour disputes and other risks of the mining
industry; delays in obtaining governmental approvals or financing or in the
completion of exploration, as well as those factors disclosed in the company's
publicly filed documents. Although the Company has attempted to identify
important factors that could cause actual actions, events or results to differ
materially from those described in forward-looking statements, there may be
other factors that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Progressive Investor Relations
Andrew Mugridge / Benjamin Curry
604.689.2881
info@eaglehillexploration.com
www.eaglehillexploration.com
MI3 Communications Financières Inc. (Montreal)
Nathalie Dion
514.904.1333
nathalie@mi3.ca
www.mi3.ca