TORONTO, Aug. 8, 2022
/CNW/ - American Eagle Gold Corp. (TSXV: AE) ("American
Eagle" or the "Company") is pleased to announce that it
has received its drill permit for its NAK Copper-Gold Project
("NAK") in north-central British
Columbia, Canada. The planned 4,000-metre diamond drilling
program is expected to commence in the coming days.
About NAK's Drill
Program
NAK is a classic porphyry target that exhibits all the signs of
a large copper-gold system. Previous owners defined a large shallow
copper-gold footprint that is open at depth. Reinterpretation of
historical ZTEM and geophysics defined several deeper exploration
targets, which will be tested with 5-6 drill holes.
American Eagle's exploration program will test the most
compelling geophysical anomalies at depth and its drill plan is
designed to vertically intersect the core of these new geophysical
targets, which are situated directly below the shallow low-grade
resource. Previous drilling has intersected wide zones
of copper-gold mineralization, including DH95-15, which returned a
grade of 0.35% Cu and 0.645g/t Au over a width of 168.5 metres
starting 5.5 metres from the surface (see table for historical
drill results). The Company believes the key to advancing the NAK
project will be to discover and delineate additional mineralization
that extends beyond the historical shallow drilling. For
detailed information on the NAK property's geological and
geophysical interpretation, refer to the Company's Projects page
here.
View Drill Targets: Geophysical Anomalies
Coincident with Historical Drilling
About the Previous Drilling and
its defined Historical Resource
Historical drilling defined a large surface copper and gold
footprint measuring 2500 x 1500m open
in all directions. However, historical drilling had been restricted
to the upper parts of the mineralized alteration zone, testing to
an average vertical depth of only 170m. American Eagle's current drill program will
test mineralization below the historical shallow drilling.
Video with Charlie
Greig, winner of 2022 PDAC Bill Dennis Ward, on the
potential he sees at NAK Project.
More About the NAK Project's
Geology within an Emerging Porphyry District
NAK exhibits a strong magnetic signature with close geological
and geophysical similarities to Newcrest's Red Chris and Newmont's Saddle copper-gold
deposits located northwest of the property.
The NAK project is in the Babine Copper-Gold Porphyry District
(click here to view). All previous historical data has
indicated excellent potential exists below the current limits of
the known shallow copper-gold mineralization.
About American Eagle Gold
Corp.
American Eagle Gold is traded under the AE symbol on the TSX
Venture Exchange. It is focused on exploring its NAK project in the
Babine Copper-Gold Porphyry district in central British Columbia. The Company is fully funded
for NAK's 2022 exploration program and is currently permitted to
drill. American Eagle has contracted C.J. Greig and Associates to
advise and execute the Company's exploration program at NAK.
Geologist and president of C.J Greig & Associates, Charlie Greig, is a recipient of the prestigious
2022 Bill Dennis Award, recognizing his contribution to the
prospecting and exploration industry or a significant mineral
discovery.
QP Statement
American Eagle's Vice President of Exploration, Mark Bradley, B.Sc., M.Sc., P.Geo., a Certified
Professional Geologist and 'qualified person' for Canada's National Instrument 43-101 Standards
of Disclosure for Mineral Properties, has verified and approved the
information contained in this news release.
www.americaneaglegold.ca
Forward-Looking
Statements
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the TSX Venture Exchange
policies) accepts responsibility for the adequacy or accuracy of
this release. Certain information in this press release may contain
forward-looking statements. Forward-looking statements in this
press release include, but are not limited to, statements regarding
the timing and scope of planned drilling on the NAK property and
whether the Company's exploration efforts on the project produce
the results that are anticipated by management. This information is
based on current expectations that are subject to significant risks
and uncertainties that are difficult to predict. Actual results
might differ materially from results suggested in any
forward-looking statements. American Eagle Gold Corp. assumes no
obligation to update the forward-looking statements or to update
the reasons why actual results could differ from those reflected in
the forward looking-statements unless and until required by
securities laws applicable to American Eagle Gold Corp. Additional
information identifying risks and uncertainties is contained in
filings by American Eagle Gold Corp. with Canadian securities
regulators, which filings are available under American Eagle Gold
Corp. profile at www.sedar.com.
SOURCE American Eagle Gold Corporation