American Eagle Intersects 407 Metres of 0.78% Copper Equivalent from Surface, Including 248 Metres at 1.1% Highlight Intercepts: ● NAK24-31 : 248 m of 1.1% Copper Equivalent (CuEq) within; 308 metres of 0.97% CuEq within;
American Eagle Intersects 407 Metres of 0.78%
Copper Equivalent from Surface, Including 248
Metres at 1.1%
Highlight Intercepts:
●
NAK24-31
:
248 m of 1.1% Copper Equivalent (CuEq) within;
308 metres of 0.97% CuEq within;
407 metres 0.78% CuEq from Surface
●
NAK24-35
:
106 m of 0.53% CuEq and;
324 m of 0.45% CuEq within;
514 m of 0.42% CuEq within;
911 m of 0.33% CuEq from Surface
Toronto, Ontario--(Newsfile Corp. - January 14, 2025) -
American Eagle Gold Corp.
(TSXV: AE)
(OTCQB: AMEGF) ("American Eagle" or the "Company") is pleased to announce the expansion of the
high-grade South Zone, intersecting 248 metres of 1.1% Copper Equivalent (CuEq) within a broader
interval of 407 metres grading 0.78% CuEq starting 33 metres downhole in NAK24-31.
The zone
remains open to depth and to the south and southeast.
The Company also intersected significant mineralization at its northern step out drilling, with NAK24-35
intersecting 414 metres of 0.42% CuEq within a broader interval of 911 metres grading 0.33% CuEq
beginning 11 metres downhole (
view plan map of drill holes
).
This intercept represents an exciting new
style of mineralization unique to the North Zone, with very consistent grade and high tenor sulphide
species hosted almost entirely within intrusive bodies. Its full extent and potential remain to be fully
determined, as the Company has only just initiated drill-testing in this area.
View Video of CEO Anthony Moreau and NAK Technical Team Discuss Results
NAK24-35, -37 and -38 were follow-up holes drilled to build on the success of holes NAK24-33 and
NAK23-12 at the North Zone, which intersected a new and different style of visually higher-grade,
disseminated bornite-style mineralization. The holes were drilled from near the northern limit of the NAK
property clear-cut, extending farther north than any previous American Eagle holes, and were oriented
across a range of azimuths to gain a better understanding of the extent and orientation of the controls for
the newly-recognized style of mineralization, the full extent of which awaits systematic drill-testing.
"With another 'Chile-in BC ' hole, American Eagle is once-again showcasing the remarkable scale of
high-grade mineralization at NAK's South Zone," said CEO Anthony Moreau. "In the north, our new drill
results unexpectedly discovered the presence of a significant volume of mineralization of a different style
than that in the South and Main zones. These northern step-out holes require study that will help shape
our upcoming exploration strategy. The new northern boundary of known mineralization, in their
geological and geophysical context, strongly suggest that we've only just begun to touch on the margins
of an extensive mineralized system. Our team will continue to track this mineralization around the extent
of the circular Babine porphyry mineralizing system. We continue to highlight the geological and
geographic advantages of the NAK project. Its lower elevation, relatively flat topography, and excellent
accessibility provide significant benefits, not only in terms of reduced drilling costs but also in lowering
potential operating capital expenditures, setting it apart from our peers. Additionally, the project boasts
excellent grades within a large, mineralized envelope, with multiple zones extending right to bedrock
surface."
"With a robust treasury and a clear roadmap ahead, we're well-positioned to deliver more great results in
2025, with 30,000 meters of drilling planned, and fully funded budgets for the next 2 or 3 years. We're
confident this will allow us to well define the project's potential, test its boundaries around the Babine
porphyry, and possibly uncover some exciting surprises along the way."
American Eagle will present its detailed plan for 2025 in the near future.
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
NAK24-31 Assay Results (Table 1) and Details*
Hole
From (m)
To (m)
Length (m)
Cu
Au (g/t)
Ag (g/t)
Mo (ppm)
CuEq (%)
NAK24-31
132
380
248
0.34%
0.74
1.43
287
1.10%
within
NAK24-31
132
440
308
0.32%
0.63
1.30
239
0.97%
within
NAK24-31
33
440
407
0.26%
0.49
1.05
208
0.78%
Cross Section of NAK24-31
*
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.
NAK24-31
was collared 100 m east of NAK23-17, and was drilled at an inclination of 78 degrees,
toward the east-southeast.
It was designed to infill between the copper-gold-molybdenum mineralization
encountered in NAK24-17, and the near-surface stockwork-style gold-copper mineralization
encountered at the historical South Zone farther to the east.
This hole hosted very strong copper and
molybdenum mineralization.
It is similar in style to that in NAK23-17, with high-grade anhydrite-quartz
veins containing semi massive chalcopyrite and bornite (+/- molybdenite), all hosted by coarse pebble
conglomerate and subordinate pebbly sandstone mineralized by disseminated chalcopyrite and bornite.
The sedimentary rocks are intruded by dark porphyritic dykes near the top of hole, and by fine grained
mafic dykes below 400 m.
The hole ended at a depth of 493 m with the first appearance of Babine
porphyry diking.
NAK24-35 Assay Results (Table 2) and Details
*
Hole
From (m)
To (m)
Length (m)
Cu
Au (g/t)
Ag (g/t)
Mo (ppm)
CuEq
NAK24-35
196
302
106
0.43%
0.07
3.80
20
0.53%
and
NAK24-35
386
710
324
0.30%
0.10
4.04
55
0.45%
within
NAK24-35
196
710
514
0.30%
0.08
3.48
43
0.42%
and
NAK24-35
536
682
146
0.21%
0.13
1.95
69
0.37%
within
NAK24-35
11
923
911
0.23%
0.06
2.42
44
0.33%
Cross Section of NAK24-35
NAK24-35
was collared from the same location as NAK22-05, at the northern-most limit of the
Company's 2022-24 NAK property drill campaigns.
The hole was drilled to the northeast at an inclination
of 65 degrees, with the aim of testing the promise hinted at by the Company's sulfide speciation model,
in which the presence of bornite and chalcocite near to and along the western margin of the Babine
porphyry suggests that the proportion of these higher tenor sulfides increases in that direction.
NAK24-
35 intersected hornfelsed fine grained sedimentary rocks
intruded by porphyritic dykes down to a depth
of approximately 200 m. Below this, novel, newly-recognized intrusive bodies were encountered down to
a depth of just over 300m, with a characteristic pale colour and distinctive seriate texture, with subhedral
plagioclase and, locally, potassium feldspar phenocrysts, occurring in what appears to be a translucent,
generally sericitized and/or albitized matrix.
The seriate bodies intrude fine-grained sedimentary host
rocks and significantly host variably abundant disseminated bornite, chalcopyrite, and local chalcocite
that is commonly distributed evenly throughout, and which may have replaced mafic minerals and/or iron
oxides.
These seriate bodies, locally intercalated with meter scale intervals of hornfelsed fine grained
sedimentary rocks, continued to a depth of approximately 303 m, where a broad package of rocks
correlative with the Babine porphyry was intersected.
From 303 m to approximately 440 m,
mineralization consisted of sparse, but striking, massive veins of bornite-chalcocite.
At 440 m, a second,
broader interval of seriate intrusive rocks was encountered, and it continued to a depth of 700 m, where
it intrudes the Babine porphyry.
As with the upper body, mineralization within the lower seriate intrusion
also consists largely of fine-grained disseminations of bornite, chalcopyrite and subordinate chalcocite.
NAK24-38 Assay Results (Table 3) and Details*
Hole
From (m)
To (m)
Length (m)
Cu
Au (g/t)
Ag (g/t)
Mo (ppm)
CuEq
NAK24-38
15
98
83
0.36%
0.06
0.80
26
0.43%
and
NAK24-38
596
727
131
0.22%
0.09
1.99
60
0.35%
within
NAK24-38
15
890
875
0.19%
0.06
1.20
61
0.29%
Cross Section of NAK24-38
NAK24-38
was collared from the same location as NAK22-04, approximately 200 m to the south of
NAK24-35/37, and was drilled to the north at an inclination of 55 degrees.
The drill hole was designed to
traverse from the strong near surface mineralization encountered closer to surface within fine grained
sedimentary rocks in NAK22-04, through mineralized conglomerate down past the nearby lower
mineralized seriate intrusion encountered in hole NAK24-35.
As expected, in its upper reaches hole
NAK23-38 intersected fine grained sedimentary rocks and conglomerate before intersecting a body of
Babine porphyry at 450 m.
At 596 m, the hole intersected a seriate intrusion and continued in it to a
down hole depth of 727 m, where more Babine porphyry was encountered.
Mineralization was strong in
this hole down to a depth of approximately 400 m, consisting largely of disseminations and veins of
chalcopyrite and lesser bornite.
Between that point and where the seriate rocks were intersected,
mineralization was more sporadic, and was manifest as local zones of bornite veining.
Within the seriate
intrusion, however, and in a manner similar to that observed in NAK24-35, fine disseminations of bornite,
chalcopyrite, and local chalcocite occur throughout its length.
Downhole of the seriate body and to the
end of the hole, mineralized Babine porphyry yielded sporadic but commonly high-grades, with
mineralization occurring as thin veinlets and fracture coatings of bornite.
NAK24-36 Assay Results (Table 4) and Details*
Hole
From (m)
To (m)
Length (m)
Cu
Au (g/t)
Ag (g/t)
Mo (ppm)
CuEq
NAK24-36
15
155
140
0.12%
0.10
0.47
21
0.21%
within
NAK24-36
15
275
260
0.11%
0.08
0.41
66
0.21%
within
NAK24-36
15
641
626
0.10%
0.06
0.39
59
0.19%
Cross Section of NAK24-36
NAK24-36
, which was drilled in the southern part of the project, was a nearly 200 m step-out to the east
from hole NAK24-28 at the historical gold-rich South Zone, with the hole traversing southeast at an
inclination of 55 degrees toward the IP Embayment Zone.
Lithologically, NAK24-36 is characterized by
dark coloured immature pebbly sandstone and interlayered tuff that below 300 m are intruded by fine-
grained mafic and intermediate composition dykes.
The dykes are geochemically distinct from mafic
dyking encountered farther to the south and west, and are cut by variably mineralized anhydrite veining,
indicating that the dyking may pre-date or is at least coeval with the latest mineralizing event at NAK.
Overall, mineralization in NAK24-36 returned consistently anomalous grades, with intervals of the host
sedimentary rocks returning over 0.1 % Cu and 0.1 g/t Au.
Mineralization below 300 m occurs as widely
distributed veins of chalcopyrite and trace bornite, and is more prominent within sedimentary host rocks
than in dykes.
NAK24-37 Assay Results (Table 5) and Details*
Hole
From (m)
To (m)
Length (m)
Cu
Au (g/t)
Ag (g/t)
Mo (ppm)
CuEq
NAK24-37
78
223
145
0.18%
0.03
0.59
29
0.23%
and
NAK24-37
642
703
61
0.22%
0.08
1.50
58
0.33%
within
NAK24-37
13
842
829
0.10%
0.04
0.63
26
0.15%
Cross Section of NAK24-37
NAK24-37
was drilled from the same collar as NK24-35, and was drilled to the east-northeast at an
inclination of 55 degrees. The intent was to test for similar disseminated bornite-chalcopyrite
(chalcocite)-bearing seriate intrusions to those intersected in drill hole NAK24-35 (and to a lesser extent,
similarly mineralized, though geochemically distinct dykes in NAK24-33).
As with NAK24-35, hole
NAK24-37 collared into fine grained sedimentary rocks, but it encountered a mineralized, seriate
intrusion at a notably shallower depth.
Pervasive disseminated bornite and chalcopyrite mineralization in
the seriate body, intersected between 75 and 232 m, yielded 0.23% CuEq. Below this, Babine porphyry
rocks remained the dominant lithology until end of hole, with a secondary and narrower zone of seriate
textured dykes, similarly mineralized, intercepted between 274 and 400 m. Mineralization throughout the
remainder of the hole was typical of Babine porphyry rocks, with bornite as sparsely distributed veins
and thin fracture coatings.
A moderate uptick in mineralized vein density is present from 650 to 700 m,
and includes semi massive chalcopyrite with hematite. The broad, lower intercept of seriate texture
intrusive in NAK24-35 was not encountered in NAK24-37, suggesting that these seriate bodies do not
conform to the well constrained steeply dipping, roughly north-south striking orientation of other
mineralizing intrusive phases encountered at NAK.
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
NAK23-22
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
03-Dec-24
NAK24-28
NAD83_Z9
675357
6129415
115
-55
632
21-Oct-24
NAK24-29
NAD83_Z9
675063
6129485
88
-70
599
03-Dec-24
NAK24-30
NAD83_Z9
675021
6129939
88
-72
899
03-Dec-24
NAK24-31
NAD83_Z9
675063
6129352
75
-78
494
This Release
NAK24-32
NAD83_Z9
675049
6129581
88
-70
605
18-Dec-24
NAK24-33
NAD83_Z9
675044
6130018
88
-70
962
18-Dec-24
NAK24-34
NAD83_Z9
675031
6129671
87
-70
669
18-Dec-24
NAK24-35
NAD83_Z9
675105
6130067
43
-65
922
This Release
NAK24-36
NAD83_Z9
675509
6129440
115
-55
641
This Release
NAK24-37
NAD83_Z9
675105
6130067
75
-55
842
This Release
NAK24-38
NAD83_Z9
675181
6129862
0
-55
890
This Release
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 2024
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 dedicated to advancing its NAK copper-gold porphyry project in west-central British
Columbia, Canada. The Company benefits from over $37 million in cash, bolstered by two strategic
equity partnerships formed in the past two years with Teck Resources and South32. With substantial
financial and technical resources, American Eagle Gold is well-positioned to drill, de-risk, and define the
full potential of the NAK Copper-Gold porphyry project.
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/236997