Eagle Hill Near Surface Drilling Returns Wide Intercept of 11.8 g/t Gold Over 47.2 Meters at the Windfall Lake Gold Deposit
VANCOUVER, BRITISH COLUMBIA–(Marketwire – June 21, 2012) – Eagle Hill Exploration Corporation ("Eagle Hill" or the "Company") (TSX VENTURE:EAG)(FRANKFURT:EH0)(OTCQX:EHECF) is pleased to announce the first assay results of the new 25,000 meter 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 published in November 2011.
Drill hole EAG-12-393 returned a wide mineralized interval assaying 11.8 g/t Gold over 47.2 meters. The gold mineralization starts at only 40 meters below the surface and extends down to 80 meters below surface. This significant gold mineralization was intersected 25 meters to the east of drill hole EAG-12-318, drilled earlier this year, which returned 22.85 g/t Gold over 25.0 meters at only 50 meters below surface. The new drilling confirms the lateral extent of the near surface and very wide gold mineralization which is hosted in altered rhyolite and porphyry dykes and consists of up to 40 percent pyrite stringers and disseminated pyrite. The pyrite mineralization is accompanied by minor sphalerite, chalcopyrite, and local visible gold.
In addition, Eagle Hill performed mechanical stripping in the upper projection of the zone at the beginning of June to sample this near surface gold mineralization. Typical pyrite stringer mineralization was discovered and hand panning of rusted material from the trench revealed multiple gold grains. This indicates that the gold mineralization intersected with several drill holes reaching surface. Assays are pending for the channel samples collected on the trench.
"We are very excited about the results of the near surface drilling. With such significant results close to surface, we have decided to systematically drill-test the upper extension of Zone 27. Our objective is to delineate gold mineralization that could be extracted by open pit method," stated Dr. Jean-Philippe Desrochers, Chief Geologist of Eagle Hill Exploration. "Additional gold intercepts of this nature and close to surface could clearly change the economic parameters at the Windfall Lake gold deposit."
The gold mineralized zones defined to date at Windfall Lake cover a lateral extension of more than 650 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 vertical and they 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 Gold over 14.0 meters and 5.5 g/t Gold over 15.0 meters (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.
The table shows the assay results from drill holes EAG-12-393.
|Drill hole Number||From (m)||To (m)||Gold Interval||Comments|
|EAG-12-393||36.2||42.0||2.0 g/t Au over 6.5 m||Near surface gold mineralization, parallel to Zone 27|
|47.0||94.2||11.8 g/t Au over 47.2 m||Upper Extension of Zone 27|
|incl. 50.8||52.3||62.8 g/t Au over 1.5 m|
|incl. 56.0||62.0||6.6 g/t Au over 6.0 m|
|incl. 65.9||73.6||8.0 g/t Au over 7.7 m|
|incl. 76.3||82.0||45.0 g/t Au over 5.7 m|
|incl. 77.9||78.4||241.0 g/t Au over 0.5 m visible gold|
|incl. 79.1||79.4||143.5 g/t Au over 0.3 m visible gold|
|incl. 89.5||94.2||19.7 g/t Au over 4.7 m|
|incl. 92.0||93.0||40.2 g/t Au over 1.0 m|
|The true widths are approximately 65 percent 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.
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.
ON BEHALF OF THE BOARD,
P. Bradley Kitchen, President
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.