American Eagle Expands North Zone High- Grade Mineralization American Eagle's North Zone Highlights: NAK24-27 intercepted 50 m of 1.01% Copper Equivalent (CuEq) within 252 m of 0.48% CuEq within 600 m of 0.33% CuEq NAK24-30
American Eagle Expands North Zone High-
Grade Mineralization
American Eagle's North Zone Highlights:
NAK24-27
intercepted 50 m of 1.01% Copper Equivalent (CuEq)
within 252 m of 0.48% CuEq
within 600 m of 0.33% CuEq
NAK24-30
Intercepted 515 m of 0.40 % CuEq
Including 112 m of 0.56% CuEq
And including 61 m of 0.71% CuEq
Assay results for eight holes are pending
Toronto, Ontario--(Newsfile Corp. - December 3, 2024) - American Eagle Gold Corp. (TSXV: AE)
(OTCQB: AMEGF) ("American Eagle" or the "Company") is pleased to announce the intersection of
strong copper-gold mineralization at the north zone, expanding NAK's high-grade mineralized envelope
to the west and north.
Holes NAK24-27 and NAK24-30 intersected strongly mineralized conglomerate
and zones of bornite and chalcocite veining within rocks of the Babine porphyry stock
Watch CEO Anthony Moreau and Lead Geologist Neil Prowse Discuss Recent Results
Broad Intervals of High Grade within a Large System
American Eagle believes that NAK represents a large, well-mineralized system with significant potential
for growth. The drill holes reported in this news release provide evidence of a deep-rooted mineralized
system extending beyond the limits of previous drilling. Confirmed grades and visually rich mineralization
observed in recent northern drill holes (NAK24-33, -35, -37, and -38) suggest broad connectivity of the
system to the north (
refer to the northerly hole map
).
Additionally, the Company is reporting results from NAK24-29, its first shallow infill hole drilled between
the western drill fence of NAK Phase 1 and the porphyry stock. NAK24-29 intersected consistent copper
mineralization throughout, and the results track a zone of increased grade extending to the north from the
south zone, that appears to steadily improve northwards with depth.
"One of our primary focuses remains unlocking the potential of the North Zone, where we are confident a
high-grade source lies at depth and may extend to surface. We believe 2025 will be a pivotal year as we
refine our targeting efforts and showcase NAK's potential. With South32's recent $29 million strategic
equity investment and over $37 million in our treasury, our drilling programs at NAK are funded for the
next three years," stated CEO Anthony Moreau.
Plan Map, Long Section and Drill Core Images:
Interactive plan view map of drilling to date at NAK
Core images for Assayed 2024 Drill Core
NAK24-27 Assay Results (Table 1) and Details*
Hole
From (m)
To (m)
Length (m)
Cu (%)
Au (g/t)
Ag (g/t)
Mo (ppm)
CuEq (%)
NAK24-27
694.2
744.24
50.04
0.62
0.37
2.3
139.51
1.01
Within
NAK24-27
694.2
857
162.8
0.39
0.19
1.62
70.9
0.59
Within
NAK24-27
692
944
252
0.31
0.16
1.35
59.7
0.48
Within
NAK24-27
343.92
944
600.08
0.21
0.11
0.82
52.96
0.33
Within
NAK24-27
25.35
977
951.65
0.15
0.07
0.59
44.54
0.24
Cross Section of NAK24-27
*
Copper Equivalent (CuEq) shown in Tables for drill intersections are calculated on a basis of US$
3.75/lb for Cu, US$ 1,900/oz for Au, US$ 20/oz for Ag and US$ 25/lb for Mo, with 80% metallurgical
recoveries assumed for all metals (Since it's unclear what metals will be the principal products,
assuming different recoveries is premature at this stage). The formula is: CuEq. = Cu % + (Au grade
in g/t
x (Au recovery / Cu recovery) x [Au price ÷ 31] / [Cu price x 2200]) + (Ag grade in g/t x
(Ag
recovery / Cu recovery) x [Ag price ÷ 31] / [Cu price x 2200] + (Mo grade in %
x (Mo recovery / Cu
recovery) x [Mo price x 2200] / [Cu price x 2200]). The assays have not been capped.
NAK24-27
was collared 100 m west of NAK23-12, and drilled eastward.
It confirms that the higher
grade mineralization encountered in NAK24-12 adjacent to and locally within the Babine porphyry stock
extends westward at depth.
NAK24-27 was collared in coarse- to fine-grained sedimentary rocks
hosting sparse copper mineralization, occurring primarily as mm- to cm-scale semi massive sulphide
veins.
At a depth of
approximately 343 m, well-mineralized conglomerate was intersected, with the
strongest mineralization occurring below 700 m.
Mineralization consists primarily of bornite and
chalcopyrite, as partial matrix replacement, as disseminations within conglomerate clasts, and in
local
zones of mm- to cm-scale semi-massive sulphide veins.
NAK24-27 tracks the strongest mineralization
encountered in holes NAK23-12 and NAK22-04 steeply to depth, where it appears to parallel the the
steeply west-dipping contact of the Babine porphyry stock.
NAK24-30 Assay Results (Table 2) and Details*
Hole
From (m)
To (m)
Length (m)
Cu (%)
Au (g/t)
Ag (g/t)
Mo (ppm)
CuEq (%)
NAK24-30
581
642.11
61.11
0.49
0.23
2.47
42.51
0.71
Including
NAK24-30
393
505
112
0.4
0.11
1.97
79.07
0.56
and Including
NAK24-30
711
899
188
0.21
0.1
1.91
103.06
0.37
within
NAK24-30
384.34
899
514.66
0.26
0.11
1.59
70.43
0.4
within
NAK24-30
44
899
855
0.19
0.08
1.22
55.86
0.3
Cross Section of NAK24-30
NAK24-30
was collared 100 m north of NAK23-12 and drilled eastward.
In a manner similar to hole
NAK24-27, its mineralization increased downhole, with moderately mineralized sandstone and
conglomerate giving way to strongly mineralized conglomerate at a depth of 384 m, where broad zones
of disseminated chalcopyrite and bornite host local zones of dense veining (bornite-chalcopyrite +/-
chalcocite).
NAK24-30 remained in mineralized conglomerate, hosting subintervals of sandstone, and
with both intruded by porphyry dykes of intermediate composition, down to a depth of approximately 660
m, where the Babine porphyry stock was encountered.
Mineralization within the porphyry stock remained
strong, returning 0.37 % CuEq from 711 m to End of hole. It is characterized by abundant veins, veinlets,
and fracture coatings of bornite and chalcocite, which appear to have high-temperature potassic
alteration haloes.
The hole was ended at 899 m within moderately well-mineralized rocks of the stock.
This is suggestive of the potential for further mineralization, and perhaps for another mineralized center,
lying to the north and east
NAK24-29 Assay Results (Table 4) and Details
*
Hole
From (m)
To (m)
Length (m)
Cu (%)
Au (g/t)
Ag (g/t)
Mo (ppm)
CuEq (%)
NAK24-29
506.34
537.3
30.96
0.2
0.12
1.27
46.41
0.34
within
NAK24-29
293.06
599
305.94
0.1
0.06
0.49
39.32
0.18
within
NAK24-29
68.68
599
530.32
0.07
0.06
0.38
52.48
0.15
and including
NAK24-29
476.83
480.65
3.82
0.75
0.06
5.3
6.18
0.84
Cross Section of NAK24-29
NAK24-29
was collared 100 m east of NAK24-18 (
refer to the southerly hole map
) and drilled eastward.
It intersected sandstone to a depth of 200 m, and weakly mineralized conglomerate below that and down
to a depth of 460 m, where dyking, possibly as marginal phases related to the Babine porphyry stock,
was encountered.
The strongest copper grades in NAK24-29 were intersected over 3.82 m, in bornite
mineralized, sparsely plagioclase feldspar phyric monzonite which returned 0.75% Cu.
This dyke is
analogous in trace element geochemistry and texture to similarly mineralized dykes, known colloquially in
the region as "Copper dykes," which have been intersected in various drill holes drilled by the Company
over three seasons of drilling.
In addition, a well mineralized screen of conglomerate hosting chalcopyrite
and bornite was intersected between stock-related dykes and the stock itself.
In a manner consistent
with the north-south line of 2024 drill holes collared to the west and drilled to the east, the highest grades
intersected in drilling to the immediate north of the historical near surface mineralization at the south
zone appear to form a connected zone proximal to the porphyry stock, and in general, the widths and
grades of this mineralization appears to increase steadily to the north.
Collar details for holes drilled in the 2022, 2023 and 2024 drill program: Table 6
Hole
UTM_Grid
UTM_East
UTM_North
Azimuth
Dip
TD
News Release
NAK22-01
NAD83_Z9
675281
6129359
n/a
-90
881
07-Nov-22
NAK22-02
NAD83_Z9
675281
6129359
340
-70
984
05-Dec-22
NAK22-03
NAD83_Z9
675201
6129658
n/a
-90
941
25-Jan-23
NAK22-04
NAD83_Z9
675181
6129862
n/a
-90
548
25-Jan-23
NAK22-05
NAD83_Z9
675105
6130067
n/a
-90
824
02-Mar-23
NAK22-06
NAD83_Z9
675376
6129782
260
-77
920
02-Mar-23
NAK22-07
NAD83_Z9
675181
6129862
170
-81
874
02-Mar-23
NAK23-08
NAD83_Z9
675341
6129341
270
-60
881
09-Aug-23
NAK23-09
NAD83_Z9
675990
6129284
20
-65
837
14-Sep-23
NAK23-10
NAD83_Z9
675357
6129415
270
-60
855
19-Sep-23
NAK23-11
NAD83_Z9
675215
6129340
270
-60
836
19-Sep-23
NAK23-12
NAD83_Z9
674999
6129846
80
-70
929
12-Oct-23
NAK23-13
NAD83_Z9
675205
6129773
270
-60
620
08-Jan-24
NAK23-14
NAD83_Z9
675260
6129934
260
-70
749
08-Jan-24
NAK23-15
NAD83_Z9
675211
6129232
270
-60
617
08-Jan-24
NAK23-16
NAD83_Z9
675166
6129479
265
-65
743
08-Jan-24
NAK23-17
NAD83_Z9
674969
6129377
105
-73
810
08-Jan-24
NAK24-18
NAD83_Z9
674961
6129472
90
-77
914
20-Aug-24
NAK24-19
NAD83_Z9
675219
6129388
120
-55
951
20-Aug-24
NAK24-20
NAD83_Z9
674946
6129573
90
-72
933
20-Aug-24
NAK24-21
NAD83_Z9
675264
6129415
n/a
-90
419
20-Aug-24
NAK24-22
NAD83_Z9
674927
6129673
84
-71
943
21-Oct-24
NAK24-23
NAD83_Z9
675264
6129415
340
-70
526
20-Aug-24
NAK24-24
NAD83_Z9
675264
6129415
340
-55
950
21-Oct-24
NAK24-25
NAD83_Z9
674930
6129766
86
-74
923
21-Oct-24
NAK24-26
NAD83_Z9
675264
6129415
300
-60
586
21-Oct-24
NAK24-27
NAD83_Z9
674898
6129857
90
-70
977
This Release
NAK24-28
NAD83_Z9
675357
6129415
115
-55
632
21-Oct-24
NAK24-29
NAD83_Z9
675062
6129481
88
-70
599
This Release
NAK24-30
NAD83_Z9
675021
6129939
88
-72
899
This Release
NAK24-31
NAD83_Z9
675063
6129939
75
-78
494
Pending
NAK24-32
NAD83_Z9
675049
6129352
88
-70
605
Pending
NAK24-33
NAD83_Z9
675044
6129581
88
-70
962
Pending
NAK24-34
NAD83_Z9
675031
6130018
87
-70
669
Pending
NAK24-35
NAD83_Z9
675105
6130067
43
-65
922
Pending
NAK24-36
NAD83_Z9
675509
6129440
115
-55
641
Pending
NAK24-37
NAD83_Z9
675105
6130067
75
-55
842
Pending
NAK24-38
NAD83_Z9
675181
6129862
0
-55
890
Pending
QA/QC and Sampling Protocol
Sampling at NAK follows a rigorous methodology and internal QA/QC protocol. Drill core is halved on
site, and samples are submitted to ALS Geochemistry in Langley, British Columbia for preparation and
analysis. ALS is accredited to the ISO/IEC 17025 standard for assays. All analytical methods include
quality control standards inserted at set frequencies. The entire sample interval is crushed and
homogenized, and 250 g of the homogenized sample is pulped. All samples were analyzed for gold,
silver, copper, molybdenum and a suite of 45 other major and trace elements. Analysis for gold is by fire
assay fusion followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) on 30 g
of pulp. Analysis for silver, copper, and molybdenum is by four-acid digestion followed by Inductively
Coupled Plasma Mass Spectroscopy (ICP-MS). All other major and trace elements are analyzed by four-
acid digestion followed by ICP-MS.
Internal QA/QC protocols dictate that individual core samples are no less than 70 cm and no greater than
3 m in length. To control standard, blank, and duplicate sample frequency, and to better constrain
pass/fail re-analysis intervals, samples are submitted to the lab in 50 sample batches. Within each 50-
sample batch, there is one gold-copper standard and two coarse reject duplicates, inserted at regular
intervals, and two blank samples, inserted sequentially following well-mineralized samples where
possible, for a total of 10% QA/QC samples. All gold and copper standard analyses from the 2023
program passed within 2 standard deviations of expected values. Where duplicate values differed
significantly, the lower values from the resulting re-analyses were used.
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 line 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, 2023, and 2024 by American Eagle has returned significant
intervals of high-grade copper-gold mineralization that reach beyond and much deeper than the historical
drilling, indicating that zones of near-surface and deeper mineralization, locally with considerably higher
grades, exist within the broader NAK property mineralizing system.
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 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 this 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 anticipated, 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 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.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/232276