American Eagle Extends High-Grade Near- Surface Mineralization with Multiple +1% Copper Equivalent Intercepts; Confirms Continuity of Mineralization >1km Along Trend NAK's Near Surface South Zone Drill Highlights: NAK24-28
American Eagle Extends High-Grade Near-
Surface Mineralization with Multiple +1%
Copper Equivalent Intercepts; Confirms
Continuity of Mineralization >1km Along Trend
NAK's Near Surface South Zone Drill Highlights:
NAK24-28
intercepts 101 m of 1.11% Copper Equivalent (CuEq) from 47 m
within 144 m of 0.90% CuEq from surface
within 451 m of 0.43% CuEq from surface
NAK24-26
extends the gold-enriched zone northwest;
intercepts 50 m of 1.01% CuEq from surface
within 457 m of 0.39% CuEq from surface
NAK24-24
helps confirm continuity of mineralization 1.2 km south to north;
intercepts 906 m of 0.36% CuEq from surface
including 107 m of 0.65% CuEq from surface
Toronto, Ontario--(Newsfile Corp. - October 21, 2024) - American Eagle Gold Corp. (TSXV: AE)
(OTCQB: AMEGF) ("American Eagle" or the "Company") is pleased to announce the confirmation of
high-grade mineralization extending east of the South Zone, toward the IP Embayment Zone, with
NAK24-28 intersecting over 100 meters of 1.11% CuEq from near surface
(
see plan map
).
Mineralization within the gold-rich South Zone was also extended northwest, in hole NAK24-26, which
intersected 50 m of 1.01 % CuEq from surface, extended 457 metres to depth, and carried a grade of
nearly 0.4% CuEq throughout.
NAK24-24, which was drilled northerly, intersected continuous
mineralization from surface to a total depth of 951 m, returning 906 m of 0.36% CuEq; it links the North
and South Zones below their surface expressions.
High Grade within a Broad System
The Company believes NAK represents an extensive, well-mineralized system whose limits remain
open. The drill holes reported in this News Release provide solid evidence for a system with large,
growing dimensions ranging from minimums of 1.2 kilometres north-south, 350 metres east-west, and
approximately 850 metres deep (
click here for 3D Section
). In addition, and with a mind toward
economic viability for this large-scale project, this year's near-surface, higher-grade intercepts from the
South Zone in drill holes such as NAK24-19, -21, -23, -26 and -28, will be instrumental in an early and
cost-effective unlocking of NAK's full potential. Future drilling will aim to add to both the size of the
system and to further delineate higher-grade nearer-surface parts, with an immediate goal of better
understanding and tracking out the newly discovered, visually rich mineralization encountered in some of
our latest drill holes in the north (NAK24-33, -35, -37, and -38), to extend the system to the northeast (
see
northerly hole map
).
In the south, some of the Company's most recent holes extend high-grade near
surface mineralization to the east and southeast. Together, the Company's latest holes are suggestive of
the potential to extend mineralization even farther eastward, and perhaps around the entire sub-circular
perimeter of NAK's Babine Porphyry Stock (
see "bluesky donut"
).
"NAK is advancing towards establishing a substantial mineralized volume, with two distinct high-grade
near-surface zones, linked at depth and with remaining untested near-surface potential, along with
emerging and exciting discovery and expansion potential in both the north and southeast. NAK has long
stood out for its extensive mineralized and altered footprint. As our Company continues to explore along
and outward from the margin of the Babine Porphyry Stock, that footprint continues to show significant
growth potential around its circumference. With its favorable geographic setting, characterized by low-
lying terrain, excellent road access, and cost-effective exploration, the NAK project shows promising
exploration potential and a bright future," stated CEO Anthony Moreau.
Update on Drilling at the NAK Project:
The most recent holes drilled at NAK, for which the Company awaits assays, have largely focused on the
expansion of the North (Copper) zone, and have been drilled toward the east, northeast, and north.
These holes have encountered broad intervals of disseminated and vein-hosted chalcocite, bornite and
chalcopyrite mineralization that are commonly hosted in distinctive pale coloured seriate textured
intrusive rocks that cut and are distinct from the Babine Porphyry Stock. In addition, broad intervals of
chalcedonic quartz stockwork and hydrothermal breccia, variably mineralized with chalcopyrite and
pyrite, and with subordinate intervals of bornite and molybdenite, were encountered in these holes, and
were mainly hosted by rocks of the Babine Porphyry Stock, marginal to the seriate textured intrusive
rocks.
Assays are currently pending for these holes, and for several other holes drilled farther south.
Plan Map, Long Section and Drill Core Images:
Plan view of drilling to date at NAK
Core images for Assayed 2024 Drill Core
NAK24-28 Assay Results (Table 1) and Details*
Hole
From (m)
To (m)
Length (m)
Cu (%)
Au (g/t)
Ag (g/t)
Mo ppm
CuEq (%)
NAK24-28
47
148
101
0.35%
0.96
3.3
34
1.11%
Within
NAK24-28
21
165
144
0.29%
0.74
2.47
45
0.90%
Within
NAK24-28
21
472
451
0.18%
0.28
1.17
50
0.43%
Cross Section of NAK24-28
*
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.
NAK24-28
was a step-out drill hole targeting an area toward the IP Embayment Zone. It was collared
from the same location as NAK22-10, and drilled southeast, parallel to NAK24-19. It extends the near-
surface high gold grade mineralization area of the South Zone farther east, and encountered a broad
zone of copper-bearing sedimentary rocks and mafic dykes that lie well beyond the limits of historical
drilling.
NAK24-26 Assay Results (Table 3) and Details*
Hole
From (m)
To (m)
Length (m)
Cu (%)
Au (g/t)
Ag (g/t)
Mo ppm
CuEq (%)
NAK24-26
43
93
50
0.26
0.95
1.18
47
1.01
Within
NAK24-26
43
500
457
0.17
0.23
0.81
52
0.39
Within
NAK24-26
43
586
543
0.16
0.2
0.77
61
0.36
Including
NAK24-26
43
176
133
0.17
0.5
0.81
34
0.56
And Including
NAK24-26
355
500
145
0.25
0.14
1.28
59
0.4
Cross Section of NAK24-26
NAK24-26
was drilled to the northwest from the same location as NAK24-21 and 24, and like those
holes, it helps expand the high-grade mineralized footprint of the gold-enriched South Zone. NAK24-26
returned 50 metres of 1.01% Copper Equivalent from surface. Mineralization transitioned gradually from
more weakly copper-mineralized and more strongly gold-bearing quartz stockwork veining, to zones of
bornite and chalcopyrite mineralization occurring as disseminations and in veins.
The intensity of
mineralization varied somewhat, but was broadly consistent, including 144 m of 0.40% CuEq from 355
m.
NAK24-24 Assay Results (Table 5) and Details*
Hole
From
To
Length
Cu (%)
Au (g/t)
Ag (g/t)
Mo ppm
CuEq (%)
NAK24-24
45
951
906
0.19
0.17
1.03
42
0.36
Including
NAK24-24
45
152
107
0.23
0.53
0.98
36
0.65
And Including
NAK24-24
790
916
126
0.37
0.23
2.15
46
0.60
Cross Section of NAK24-24
NAK24-24
emphasizes the size and bulk grade potential of the NAK porphyry system by confirming the
connectivity of
NAK's North and South Zones, and extending the system to a full 1.1 kilometres from
south to north. The hole was drilled to the north from the same location as drill holes NAK24-21 and -26,
and was mineralized consistently along its length, averaging 0.36% Copper Equivalent over 906 metres.
It was collared within the South Zone, and terminated to the north of NAK23-12, within bornite veined
Babine Porphyry Stock granodiorite. The hole traversed through variably mineralized conglomerate and
sandstone, with the strongest copper mineralization encountered at depth.
NAK24-22 Assay Results (Table 5) and Details*
Hole
From
To
Length
Cu (%)
Au (g/t)
Ag (g/t)
Mo ppm
CuEq (%)
NAK24-22
40
944
905
0.16
0.04
1.05
37
0.23
Including
NAK24-22
281
944
663
0.19
0.05
1.29
44
0.26
And Including
NAK24-22
814
944
130
0.27
0.04
2.39
61
0.36
And Including
NAK24-22
616
716
100
0.30
0.11
2.32
39
0.43
Cross Section of NAK24-22
NAK24-22
returned 904 m of 0.23 % CuEq from surface, including 99.6 m of 0.43% CuEq from 616.4
m. Mineralization is dominantly hosted as stringers and disseminations in conglomerate and sandstone,
as well as narrow intercepts of mineralized dyking. NAK24-22 also encountered a 6.4 m intercept of
bornite mineralized monzonitic dyking, identical in character to the well mineralized intercepts in NAK22-
04 and NAK22-02. This dyke, and a broader envelope of strongly mineralized host granodiorite, returned
17 m of 0.62 % Cu. It provides further evidence that a later stage phase of well-mineralized dyking
intrudes the main Babine Porphyry Stock.
NAK24-25 Assay Results (Table 4) and Details
*
Hole
From
To
Length
Cu (%)
Au (g/t)
Ag (g/t)
Mo ppm
CuEq (%)
NAK24-25
32
923
891
0.14
0.04
0.65
38
0.20
Including
NAK24-25
757
860
103
0.37
0.10
2.22
62
0.51
And Including
NAK24-25
319
860
542
0.19
0.05
0.84
47
0.26
Cross Section of NAK24-25
NAK24-25
returned 891 m of 0.20% CuEq from surface, including 103 m of 0.51% CuEq from 757 m.
As with NAK24-22, mineralization was dominantly hosted within conglomerate and sandstone. Some
notable zones of skarn-like copper sulfide replacement occur within locally calcareous lenses of rock
hosted by conglomerate and sandstone at depth and immediately adjacent to the Babine Porphyry
Stock. This style of mineralization, which yielded 0.51% CuEq over 103 metres, is strongly suggestive of
the potential at NAK for the presence of broader zones of exceptionally high grade mineralization hosted
within calcareous host rocks in the vicinity of the stock.
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
17-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
NAK23-22
NAD83_Z9
674927
6129673
84
-71
943
Current NR
NAK24-23
NAD83_Z9
675264
6129415
340
-70
526
20-Aug-24
NAK24-24
NAD83_Z9
675264
6129415
340
-55
950
Current NR
NAK24-25
NAD83_Z9
674930
6129766
86
-74
923
Current NR
NAK24-26
NAD83_Z9
675264
6129415
300
-60
586
Current NR
NAK24-27
NAD83_Z9
674898
6129857
90
-70
977
N/A
NAK24-28
NAD83_Z9
675357
6129415
115
-55
632
Current NR
NAK24-29
NAD83_Z9
675062
6129481
88
-70
599
N/A
NAK24-30
NAD83_Z9
675021
6129939
88
-72
899
N/A
NAK24-31
NAD83_Z9
675063
6129939
75
-78
494
N/A
NAK24-32
NAD83_Z9
675049
6129352
88
-70
605
N/A
NAK24-33
NAD83_Z9
675044
6129581
88
-70
962
N/A
NAK24-34
NAD83_Z9
675031
6130018
87
-70
669
N/A
NAK24-35
NAD83_Z9
675105
6130067
43
-65
922
N/A
NAK24-36
NAD83_Z9
675509
6129440
115
-55
641
N/A
NAK24-37
NAD83_Z9
675105
6130067
75
-55
842
N/A
NAK24-38
NAD83_Z9
675181
6129862
0
-55
890
N/A
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/227258