American Eagle Engages Drill Contractor and Provides Exploration Update on its Golden Gate Project
American Eagle Engages Drill Contractor and
Provides Exploration Update on its Golden
Gate Project
TORONTO
,
Oct. 4, 2021
/CNW/ - American Eagle Gold Corp. (TSXV: AE) ("
American Eagle
" or
the "
Company
") is pleased to announce it has engaged
Major Drilling
for the Company's initial drill
program at its Golden Gate Project within the Cortez Trend of Nevada. Drilling is expected to begin
in November.
American Eagle is also providing shareholders with an exploration update on its groundwork and
targeting to date. Additionally, American Eagle's Vice President of Exploration,
Mark Bradley
, has
provided a video update discussing the Company's progress to date.
Video of Mark Bradley Discussing Golden Gate and its Drill Plans
American Eagle's Development and Exploration Updates:
Drill pad construction will be underway soon, and drilling is expected to commence in November
Drill permits have been received from the Bureau of Land Management for the Golden Gate drill
campaign.
The exploration team has utilized geochemistry and geophysics to delineate two initial drill target
zones on the Cortez Fault zone, south of Barrick's
Cortez Hills
mine. Geophysical targeting
includes:
2D seismic survey which showed significant folding & thrusting near-surface that could
provide mineralization traps for
Carlin
-type deposits.
CSAMT which showed sizable and 'rooted' areas of high resistivity characteristic of lower
plate carbonate rocks
The campaign will begin with a 3,000-metre program, with 3 – 4 drill holes focused on the
Northern Cortez and Southern Cortez target zones –
click here to see Target Zones
The goal of the program is to intercept lower plate rocks and identify deep alteration, and
mineralization analogous to
Barrick Gold's
Gold Rush and
Cortez Hills
projects next door
Results of the drill program will help the exploration team delineate a second drill campaign to
vector into a discovery of an orebody
"American Eagle Gold has taken great care in completing the appropriate groundwork to maximize
the potential outcome of this upcoming drill program. Our team understands the challenges that
discovery brings, but being located within the Cortez Trend, adjacent to world-class orebodies
owned by Barrick and Newmont provides us valuable information and insight on the gold system we
believe travels through the Golden Gate property. Also, being led by
Mark Bradley
, who discovered
Barrick's Gold Rush deposit, gives us great confidence in our exploration team. The Cortez trend
has been an incredibly fertile ground for gold, and we believe we are well-positioned for discovery,"
said
Anthony Moreau
, CEO for American Eagle Gold.
About American Eagle Gold Corp.
American Eagle Gold is traded on the TSX Venture Exchange under the symbol 'AE' and is focused
on exploring its flagship property, Golden Gate. The property is strategically situated on the Cortez
Trend, which hosts three large
Carlin
-type gold deposits operated by Barrick and Newmont's Joint
Venture,
Nevada Gold Mines
(Pipeline,
Cortez Hills
and Goldrush). The property is located 10 km
south of Cortez Hills and 5 km south of Goldrush and shows many of the same geological
characteristics as at the two deposit areas. Additionally, American Eagle Gold has optioned the
Cerros Rojos Property, located 150km south of Newmont's Long Canyon mine in Nevada. Cerros
Rojos had historical near-surface oxidized gold drill intercepts, one of which measured
12.2m
@
0.57 g/t Au from the surface.
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 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.
For information and updates on American Eagle Gold, please visit:
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 planned
work program on the Cerros Rojos Property, the timing of the program milestones and TSX Venture
Exchange approval of the acquisition. 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
View original content:
http://www.newswire.ca/en/releases/archive/October2021/04/c0179.html
%SEDAR: 00051688E
For further information:
To Speak to the Company directly, please contact: Anthony Moreau,
Chief Executive Officer, Phone:
416.644.1567, Email:
CO: American Eagle Gold Corporation
CNW 06:00e 04-OCT-21