American Eagle Discovers Outcrop of Copper - Bearing Porphyry at Newly Defined IP Embayment Zone; Provides Drilling Update
American Eagle Discovers Outcrop of Copper
-
Bearing Porphyry at
Newly Defined IP Embayment Zone; Provides Drilling Update
Highlights:
Field teams identified copper
-
bearing outcrop porphyry in the central part of the IP Embayment Zone, a
previously undrilled and highly prospective area
The Company has intersected disseminated and vein hosted chalcopyrite mineralization at depth on the
margins of the IP Embayment Zone, in Drill hole NAK24
-
19
IP Embayment Zone, in the southeastern area of the NAK project, will be elevated as a priority target for
further exploration and drilling.
Toronto, Ontario
--
(Newsfile Corp.
-
July 2, 2024)
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-
July 2, 2024
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American Eagle Gold Corp. (TSXV: AE) (OTCQB:
AMEGF) ("American Eagle" or the "Company") is pleased to announce a potentially significant discovery of
outcropping copper mineralization at
its NAK project in west
-
central B.C. As a follow
-
up to an Induced Polarization
survey conducted in 2024 that highlighted a new area of interest designated the IP Embayment Zone ("IPE Zone").
American Eagle deployed field teams to the IPE Zone, where they d
iscovered three widely separated outcrops of
copper
-
bearing porphyry outcrops. (
read more here
).
Further, American Eagle reports that drill hole NAK24
-
19 which was drilled to target the western margin of the IP
Embayment Zone (see Figure 2) has encountered chalcopyrite mineralization below 700 m down
-
hole that is
similar to the outcropping mineralizat
ion and mineralization encountered in NAK's North and South Zone target
areas.
Figure 1
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NAK Plan Map Highlighting IP Embayment Zone Target
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9283/215090_figure1.png
Figure 2
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IP Chargeability Cross Section Showing IP Embayment
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9283/215090_figure2.jpg
These discoveries and the results from drill hole NAK23
-
09 drilled 300 metres to the northeast of the a mineralized
outcrop provide compelling reasons to continue exploration and drilling of the IPE Zone.
Update on NAK24
-
18, 19 and
-
20
Visual observations of NAK24
-
18,
-
19 and
-
20 drill core are consistent with observations from 2023's drill holes
and reinforce the notion that the more gold
-
rich South Zone and the more copper
-
rich North Zone are linked. The
first three deep holes of the p
rogram have now been completed, with all holes exceeding 900 metres in depth.
Drilling continues, with one rig testing the undrilled ground between the historical North and South Zones, and one
rig delineating the near
-
surface gold
-
rich mineralization in t
he South zone, while data from the IPE zone is
collected and interpreted. (
read more here
).
Details of NAK's 2024 Drill Program:
The ongoing 2024 drill program, currently planned for 15,000 metres, will aim to link, better define, and expand
upon the historical North and South zones, which the Company showed in its 2022 and 2023 drill programs to
extend to considerable depths (close
to 950 m below surface) along a strike length of 750 m and across a width of
400 m. Intercepts from 2023 include 900 m of 0.50% Copper Equivalent from surface in the North zone (
Link to
NAK23
-
12 News Release
) and 302 metres of 1.09% Copper Equivalent within 606 m of 0.74% Copper Equivalent
starting from 98 metres downhole in the South Zone (
Link to NAK23
-
17 News Release
).
About American Eagle's NAK Project
The NAK Project lies within the Babine copper
-
gold porphyry district of central British Columbia. It has excellent
infrastructure through all
-
season roads and is close to the towns of Smithers, Houston, and Burns Lake, B.C.,
which lie along a major rail li
ne and Provincial Highway 16. Historical drilling and geophysical, geological, and
geochemical work at NAK, which began in the 1960's, tested only to shallow depths. Still, the work revealed a very
large near
-
surface copper
-
gold system that measures over 1
.5 km x 1.5 km. Drilling completed in 2022 and 2023
by American Eagle has returned significant intervals of high
-
grade copper
-
gold mineralization that lie beyond the
extent of historical drilling, indicating that several zones of near
-
surface and deeper mi
neralization, locally with
considerably higher grades, exist within the broader NAK property mineralizing system.
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About American Eagle Gold Corp.
American Eagle is focused on exploring its NAK copper
-
gold porphyry project in west
-
central British Columbia,
Canada.
Anthony Moreau, Chief Executive Officer
416.644.1567
www.americaneaglegold.ca
Q.P. 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 thi
s news release.
Forward
-
Looking Statements
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
complete the Offering as anticipate
d, the receipt of regulatory approval, including the approval of the TSX Venture
Exchange, to complete the Offering, the intended use of proceeds and intended drill program or its anticipated
results at the Company's NAK project, the ability of the Company
to make the qualifying expenditures as
anticipated by management, and other matters ancillary or incidental to the foregoing. This information is based
on current expectations that are subject to significant risks and uncertainties that are difficult to p
redict.
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.sedarplus.ca
.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/215090