Highlights:
- Hole NAK22-01 returned 135 metres of 1.00% CuEq from surface
within 851 metres of 0.37% CuEq (see Table 1 below)
- Hole NAK22-02 returned 301 metres of 0.61% CuEq from surface
within 956 metres of 0.37% CuEq (see Table 2 below)
- Mineralized footprint over 1.5km x 1.5km at surface; extends
1km to depth
- All seven drill holes display mineralization throughout and end
in mineralization; mineralization remains open in all
directions
- Assays for holes NAK22-03 and NAK22-04 are expected before the
year-end, and results for holes 05 to 07 will be available in the
New Year
TORONTO, Dec. 19, 2022 /CNW/ - American Eagle Gold
Corp. (TSXV: AE) ("American Eagle" or the "Company")
has completed its 2022 drill program at the NAK Project ("NAK") in
west-central British Columbia.
Results from the first two core holes were released on
November 7 and December 5, respectively. They confirmed that the
broad NAK porphyry copper-gold system, previously drilled closer to
surface, extends to depths close to 1 km.
As part of its ongoing work, American Eagle is pleased to
present an interview with Charlie
Greig, who advises American Eagle and whose consulting firm
provides day-to-day technical support to the Company. Charlie was
the recipient of PDAC's 2022 Bill Dennis Award. The interview
discusses aspects of the early success of the present NAK program,
the Project's "blue-sky" potential, and the proposed 2023 drill
plan.
Click Here to View Discussion with NAK's Geologist,
Charlie Greig
Update on NAK Holes NAK22-03 to
-07
American Eagle expects to receive assay results for NAK22-03 and
NAK22-04 before the year-end and results for holes 05 to 07 in the
New Year. Please see the link below for updated and detailed
images of core from NAK's 2022 drill program.
Click here for detailed core images from holes NAK22-01 to
-07
With drilling for 2022 now complete, the Company's focus is now
on interpreting and modelling the drill results to design the 2023
exploration program.
NAK22-01 Assay Results: Table
1
From (m)
|
To (m)
|
Length (m)
|
Au (g/t)
|
Cu (%)
|
Ag (g/t)
|
Mo (ppm)
|
Cu Eq %
|
29.72
|
881
|
851.28
|
0.22
|
0.17 %
|
0.97
|
73.92
|
0.37 %
|
Within
|
|
|
|
|
|
|
|
29.72
|
165
|
135.28
|
0.96
|
0.27 %
|
1.41
|
47.44
|
1.00 %
|
Within
|
|
|
|
|
|
|
|
29.72
|
251
|
221.28
|
0.65
|
0.21 %
|
1.01
|
77.8
|
0.72 %
|
Within
|
|
|
|
|
|
|
|
29.72
|
331.52
|
301.8
|
0.49
|
0.18 %
|
0.79
|
60.28
|
0.57 %
|
And Including
|
|
|
|
|
|
|
|
753.37
|
818
|
64.63
|
0.15
|
0.58 %
|
6.78
|
86.91
|
0.79 %
|
NAK22-02 Assay Results: Table
2
From (m)
|
To (m)
|
Length (m)
|
Au (g/t)
|
Cu (%)
|
Ag (g/t)
|
Mo (ppm)
|
Cu Eq %
|
28
|
984
|
956
|
0.19
|
0.20 %
|
1.3
|
37.7
|
0.37 %
|
Including
|
|
|
|
|
|
|
|
35
|
67.9
|
32.9
|
0.79
|
0.36 %
|
2.85
|
80.5
|
1.00 %
|
Within
|
|
|
|
|
|
|
|
28
|
251.8
|
223.8
|
0.57
|
0.22 %
|
1.27
|
44.7
|
0.67 %
|
Within
|
|
|
|
|
|
|
|
28
|
329
|
301
|
0.5
|
0.22 %
|
1.13
|
45.1
|
0.61 %
|
Within
|
|
|
|
|
|
|
|
28
|
614
|
586
|
0.28
|
0.17 %
|
0.89
|
30.8
|
0.40 %
|
And
Including
|
|
|
|
|
|
|
|
834
|
984
|
150
|
0.11
|
0.44 %
|
3.72
|
82.2
|
0.60 %
|
|
*Copper Equivalent
(CuEq) % calculated using copper and gold length weighted assay
results, with
commodity prices assumed at Cu = 3.50 USD/lb, Au = 1700 USD/oz, Ag
= 20 USD/oz, and Mo = 21 USD/lb.
CuEq grade, including copper, gold, silver, and molybdenum based on
100% recoveries, is calculated
using the following equation: CuEq. = Cu % + (Au grade in g/t
x [Au price ÷ 31] / [Cu price x 2200]) +
(Ag
grade in g/t x [Ag price ÷ 31] / [Cu price
x 2200] + (Mo grade in % x [Mo price x 22] /
[Cu price x 2200]).
The assays have not been capped.
|
|
Click here for a long section of NAK's Two Drill Hole
Intersections
About American Eagle's NAK
Project
NAK is a classic porphyry copper-gold mineralized target that
exhibits many signs of a robust and large-scale system. Historical
shallow drilling programs defined a near-surface copper-gold system
with a footprint greater than 1.5km x 1.5km. It remains open and
largely untested at depth.
The NAK property is road accessible, and many target areas
coincide with forest industry clear cuts. Drilling can be completed
year-round, and no helicopter support is required. The NAK property
is 85 kilometres from Smithers,
BC, in the Babine copper-gold porphyry district of
west-central British Columbia. It
lies close to nearby Babine district past-producing mines (Bell,
Granisle), in proximity to
excellent infrastructure. NAK's highly encouraging initial results
make it a prime candidate for further exploration. The Company's
main objective is to advance this newly revitalized mineralizing
system into a major discovery.
For the latest videos from American Eagle, Ore Group, and all
things mining, subscribe to our YouTube Chanel:
youtube.com/@theoregroup
About American Eagle Gold
Corp.
American Eagle trades under the symbol AE on the TSX Venture
Exchange. The Company is focused on exploring its NAK project in
the Babine Copper-Gold Porphyry district of west-central
British Columbia.
www.americaneaglegold.ca
QA/QC Statement
The Company follows a strict QA/QC protocol for the drilling
program at NAK. The protocol includes regularly-submitted
analytical standards, coarse reject duplicates, and randomly
inserted blank samples. The QA/QC samples comprise 10% of the total
samples submitted. All drill core samples are cut and packaged
on-site and are shipped to ALS Laboratories prep facility in
Langley, B.C., where they are
analyzed via a four-acid digestion multi-element ICP process and a
separate gold fire assay.
QP Statement
Mark Bradley, B.Sc., M.Sc.,
P.Geo., a Certified Professional Geologist and 'qualified person'
for the purposes of Canada's
National Instrument 43-101 Standards of Disclosure for Mineral
Properties, has verified and approved the information contained in
this news release.
Forward-Looking
Statements
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the TSX Venture Exchange
policies) accept 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
whether the Company will be able to exercise its option to acquire
the Project as anticipated 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. Therefore, actual results might differ
materially from those suggested in 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