Eagle Hill Intersects Near Surface, High Grade Gold at Windfall Lake Including 18.82 g/t Over 9.90 Meters and 53.64 g/t Over 4.55 Meters
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/15/10 -- Eagle Hill Exploration Corporation (TSX VENTURE: EAG) ('Eagle Hill' or the 'Company') is pleased to announce that it has begun its 10,000 meter drill program at the Windfall Lake Property (the 'Property'). The Company has now received results from the first three (3) holes which will test the continuity of the new, near surface 'Caribou Zone' originally discovered in the summer 2010 drill program. The current 10,000 meter drill program is designed to increase the size of the previously identified Zone 27, and will also test the recently identified and never drill tested geophysical anomalies.
The new assay results confirm the presence of continuous high-grade gold mineralization in the recently discovered zone, intersected at shallow depth, between surface and a vertical depth of 100 meters. The results of the first three (3) boreholes include 18.82 g/t Au over 9.90 meters in hole EAG-10-241 and 53.64 g/t Au over 4.55 meters in hole EAG-10-243. Those two boreholes are drilled some 45 and 20 meters respectively to the southwest of previously reported hole EAG-10-240 with 17.36 g/t gold over 12.00 meters.
'The first results of this ongoing drill program are an absolute success. They confirm continuity and the excellent grade of the gold mineralization in the first 100 metres below surface in the new Caribou Zone,' explained Brad Kitchen, President of Eagle Hill. 'We are convinced that this new zone that has been recognized for a strike-length of 250 meters and remains open laterally and at depth represents a significant upside for the Windfall Lake Property.'
The following table shows the most material assay results from the first three (3) drill holes completed to date. A complete table of results, and a photo of the style of mineralization, will be shown in the near future on Eagle Hill's website at www.eaglehillexploration.com.
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From To Length Au
Hole number (m) (m) (m) g/t
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EAG-10-241 76.10 86.00 9.90 18.82
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including 80.00 81.00 1.00 163.00
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EAG-10-242 35.00 36.00 1.00 7.38
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EAG-10-243 40.50 45.05 4.55 53.64
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including 41.00 42.00 1.00 224.00
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including 42.00 43.00 1.00 17.70
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True widths are approximately 75% of the core length reported
The new Caribou Zone is located 150 m to the southeast of Zone 27 and consists of a steep, southeasterly dipping, ENE-trending mineralized corridor. The corridor measures between 3 and 7 meters in width and has been traced for a distance of 250 meters laterally, so far. The zone remains open laterally and at depth. It is cross-cut locally by an undulating fault zone, containing fragments of mineralized rhyolite. The fault zone lies at shallow angle to the mineralized corridor and Eagle Hill is currently working at the finding the displacement along the fault zone to target the potential offset extension of the Caribou Zone.
Gold mineralization in the Caribou Zone is associated with a pyritic stockwork containing between 3-10% pyrite with local chalcopyrite and semi-massive pyrite bands. The gold zone is hosted in strongly silica-sericite altered rhyolite flow unit. The style of gold mineralization in the Caribou Zone is very similar to that of Zone 27.
The mineralized zones were drilled in NQ core and sampled with an average length of 1 meter. 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 ton. Assays returning results over 1 ounce per ton of gold by atomic absorption are re-assayed using metallic sieve method. All assays were performed by ALS Chemex Laboratory Group, in Val D'Or, Quebec and Vancouver, British Columbia. 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, Ph.D., P.Geo. is a Qualified Person registered in Quebec as defined by NI-43-101 and has reviewed the technical information 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 Propety. Eagle Hill has 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.
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 and precious metal 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 both companies have 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.
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.
Contacts:
Eagle Hill Exploration Corporation (Vancouver)
Brad Kitchen
604.697.5791
604.697.0790 (FAX)
info@eaglehillexploration.com
www.eaglehillexploration.com
Investor Cubed Inc. (Toronto)
Neil Simon
647.258.3310 or Toll Free: 1.888.258.3323
nsimon@investor3.ca
www.investor3.ca
MI3 Communications Financieres Inc. (Montreal)
Nathalie Dion
514.904.1333
nathalie@mi3.ca
www.mi3.ca