Eagle Hill Exploration Corporation: Near Surface Drill Results Include 6.18 g/t Gold Over 40.0 Meters and 19.14 g/t Gold Over 12.2 Meters at Windfall Lake
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/25/13 -- Eagle Hill Exploration Corporation (TSX VENTURE: EAG) ("Eagle Hill" or the "Company") is pleased to announce final assay results from its 2012 drill program at the Windfall Lake Gold Deposit in Northwestern Quebec. The new results include wide intercepts of high grade gold mineralization occurring near surface as a series of parallel lenses. This drilling confirms the continuity and consistency of the gold mineralization in the upper Extension of Zone 27. The drilling was completed with a spacing of 15 to 30 meters between drill holes on sections separated by 25 meters. These results are part of a 22,600 meter 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 2,906,000 tonnes at 8.76 g/t gold (822,000 ounces) in the inferred category.
Several shallow diamond drill holes continued to test the gold mineralization in the upper Extension of Zone 27 and were able to better define the geometry of this zone and to confirm its lateral continuity for over 325 meters. The Zone 27 upper extension consists of a gold-rich lens plunging shallowly to the east and extending for more than 50 meters vertically, with widths of up to 31 meters. Some of the new results for this zone include 6.18 g/t Au over 40 meters in drillhole EAG-12-450 and 19.14 g/t Au over 12.2 meters in drillhole EAG-12-454. In addition to their intersections in Zone 27, several of the shallow drill holes returned other significant intersections from parallel mineralized lenses in the first one hundred meters below the surface. The best results for the additional lenses include 5.46 g/t Au over 14.3 meters and 9.66 g/t Au over 5.3 meters as listed in the table below.
Eagle Hill has recently completed an additional 4,100 meter drill program that started at the beginning of February 2013. This drill program targeted the extensions of the richest and thickest gold mineralization of Zone 27 and the Caribou Zone at intermediate depth. The results of this drilling will be announced upon receipt of the assays and management will provide a corporate update in the near future.
The longitudinal section showing the extension of Zone 27 upper extension has been posted on Eagle Hill's website, www.eaglehillexploration.com/sections.
The table shows the most significant assay results from the series of drill holes discussed in this press release.
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From To Au Length
Drill Hole (m) (m) (g/t) (m) Comment
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EAG-12-450 27.0 27.5 21.7 0.5 Isolated intercept
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EAG-12-450 58.0 98.0 6.18 40.0 Zone 27 Upper Extension
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incl. 59.5 61.1 4.76 1.6
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incl. 73.6 80.2 31.70 6.6
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incl. 79.5 80.2 129.50 0.7
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EAG-12-451 54.8 60.1 9.66 5.3 Zone parallel to Zone 27 upper Ext.
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incl. 55.7 57.0 32.63 1.3
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EAG-12-451 122.0 143.0 3.37 21.0 Zone 27 south of the fault
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incl. 124.0 125.0 14.25 1.0
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incl. 129.0 130.2 10.55 1.2
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EAG-12-453 58.0 64.9 7.44 6.9 Zone 27 Upper Extension
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incl. 59.9 61.0 16.70 1.1
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EAG-12-454 62.8 75.0 19.14 12.2 Zone 27 Upper Extension
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incl. 65.0 66.0 32.20 1.0
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incl. 68.0 69.0 57.10 1.0
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incl. 69.0 69.8 59.10 0.8
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incl. 69.8 70.2 116.50 0.4
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EAG-12-454 98.0 103.0 3.49 5.0 Zone parallel to Zone 27 upper Ext.
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EAG-12-455 76.8 80.5 7.99 3.7 Zone 27 Upper Extension
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incl. 76.8 78.0 12.85 1.2
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EAG-12-456 32.0 33.4 31.80 1.4 Isolated intercept
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EAG-12-456 61.0 65.0 5.26 4.0 Zone parallel to Zone 27 upper Ext.
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EAG-12-456 71.0 76.2 4.77 5.2 Zone 27 Upper Extension
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EAG-12-457 73.0 74.0 6.12 1.0 Isolated intercept
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EAG-12-457 103.0 132.0 1.91 25.0 Zone 27 Upper Extension
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incl. 123.1 124.0 9.58 0.9
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EAG-12-458 73.5 74.1 18.00 0.6 Isolated intercept
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EAG-12-459 45.7 60.0 5.46 14.3 Zone parallel to Zone 27 upper Ext.
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incl. 47.0 48.0 17.30 1.0
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incl. 48.0 49.0 32.90 1.0
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EAG-12-459 102.8 104.0 21.70 1.2 Isolated intercept
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EAG-12-459 131.2 138.0 2.01 6.8 Zone 27 Upper Extension
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The true widths are interpreted to be approximately 70 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.
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 signed options with Noront (as described above) and also jointly with Murgor Resources Inc. and Cliffs Natural Resources Inc. (formerly, Freewest Resources Canada 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:
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Quantity Gold Grade Contained
('000 tonnes) (g/t) Gold (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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