Eagle Hill Extends Gold Mineralization to a Depth of 870 Meters With 15.34 g/t Gold Over 11.0 Meters at Windfall Lake
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/10/13 -- Eagle Hill Exploration Corporation ("Eagle Hill" or the "Company") (TSX VENTURE: EAG)(OTCQX: EHECF)(FRANKFURT: EH0) is pleased to announce assay results from its 2012 drill program at the Windfall Lake Gold Property in Northwestern Quebec (the "Property" or "Windfall Lake"). The new results include the deepest high grade wide gold mineralization discovered to date at Windfall Lake, below the Red Dog intrusion. These results were produced from a drill program designed to expand the size of the mineral resource estimate released on July 25, 2012 that already includes 1,665,000 tonnes at 10.05 g/t gold (538,000 ounces) in the indicated category and an inferred resource of 2,906,000 tonnes at 8.76 g/t gold (822,000 ounces).
Deep Gold Mineralization Below Red Dog
Drill hole EAG-12-448 tested gold mineralization below the Red Dog intrusion. This drill hole successfully intersected the deepest thick gold mineralization to date at Windfall Lake with 15.34 g/t Au over 11.0 meters at a vertical depth of 870 meters. This intersection is located further to the north of Zone 27 and may represent another parallel zone. In addition, this same drill hole intersected gold mineralization in the Red Dog unit of 14.9 g/t Au over 0.3 meters and 25.4 g/t Au over 0.3 meters. In the Red Dog unit, gold mineralization is hosted in quartz-carbonate veins, which represents a different type of gold mineralization than what is typically found in the main zone.
The 2012 deep drilling has demonstrated that additional significant gold mineralization is present below the Red Dog intrusion with high-grade intercepts such as 8.9 g/t Au over 14.0 meters, 5.5 g/t Au over 15.0 meters, 24.46 g/t Au over 7.4 meters (March 1, 2012 and November 6, 2012 press releases). Eagle Hill will conduct additional drilling below the Red Dog intrusion where it sees the potential to significantly increase the size of the existing mineral resource at Windfall Lake.
"We are thrilled with the new results. The deep intersections, below the Red Dog and in the Caribou zone, demonstrate that Eagle Hill has more opportunities to increase the total size of the Windfall Lake gold deposit," stated Dr. Jean-Philippe Desrochers, Chief Geologist of Eagle Hill Exploration.
Caribou Zone
Additional drilling testing the eastern extension of the Caribou Zone returned an intercept of 9.09 g/t Au over 5.2 meters in drill hole EAG-12-448. This intercept, together with the intercept of 8.62 g/t Au over 5.5 meters published on November 15, 2012, confirms the shallow eastern plunge of high grade mineralization which remains open in both directions. The new intersection is illustrated on the longitudinal section of the Caribou Zone available at www.eaglehillexploration.com/sections.
The gold mineralized zones defined to date at Windfall Lake cover a lateral extension of more than 750 meters and include, from South to North, the Caribou South, the Caribou, the Mink, Zone 27 South, Zone 27, the Mallard, and the Mallard North zones. All the zones are contained within near vertical lenses and vary in thickness between 2 meters and 35 meters.
Since the release of the July 21, 2012 mineral resource estimate, Eagle Hill has completed a total of 106 new drill holes in the extension of the known zones and below the Red Dog Intrusion. The results of this drilling will be incorporated in a new mineral resource estimate.
A map of Windfall Lake 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.
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From To Au Length Comment
Drill Hole (m) (m) (g/t) (m)
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EAG-12-448 204.3 205.0 18.45 0.7 Shear with 5-10% Py
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572.0 572.5 9.41 0.5 3.5% Py
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637.9 643.1 9.09 5.2 Caribou Zone
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incl. 640.4 642.3 17.19 1.9
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755.4 755.7 14.90 0.3 Vein in Red Dog
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767.1 767.4 25.40 0.3 Vein in Red Dog
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1064 1075.0 15.34 11.0 Deep Zone
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incl. 1066.0 1069.0 25.03 3.0
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Incl. 1073.0 1074.0 83.00 1.0
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The true widths are interpreted to be approximately 70% 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.
Other Corporate Items
At this time the Company also wishes to announce the resignation of Andre Tessier from the board of directors. "The Company thanks Mr. Tessier for his efforts on defining the work programs and his service on budgeting and the audit committee. We wish him continued success in his endeavors," stated Brad Kitchen, President and Chief Executive Officer of Eagle Hill Exploration Corp.
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 Ltd. 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:
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Quantity Gold Grade Contained Gold
('000 tonnes) (g/t) (ounces)
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Indicated 1,665 10.05 538,000
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Inferred 2,906 8.76 822,000
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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 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 contain 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.
Neither the 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.
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