American Eagle Completes NAK Drill Program, Updates on Copper-Gold Porphyry Discovery with Charlie Greig Interview
American Eagle Completes NAK Drill
Program, Updates on Copper-Gold Porphyry
Discovery with Charlie Greig Interview
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
View original content:
http://www.newswire.ca/en/releases/archive/December2022/19/c2559.html
%SEDAR: 00051688E
For further information:
Anthony Moreau, Chief Executive Officer, Phone: 416.644.1567, Email:
CO: American Eagle Gold Corporation
CNW 06:00e 19-DEC-22