American Eagle Secures 100% Ownership of the NAK Copper-Gold Porphyry Project in BC
American Eagle Secures 100% Ownership of
the NAK Copper-Gold Porphyry Project in BC
Highlights
:
American Eagle completes its 100% earn-in at the NAK Copper Gold Porphyry Project ("NAK"),
85 km northeast of Smithers, BC.
NAK stands out among Canadian copper-gold porphyries with its combination of large scale,
near-surface high grades, accessibility, favorable topography, and growth potential.
Highlighted drill results include 248 meters of 1.10% CuEq (NAK24-31) and 302 meters of 1.09%
CuEq (NAK24-17)
~$37 million in cash with two major mining companies as strategic investors – South32 & Teck
Resources Limited ("Teck")
30,000 metre drill program is scheduled to begin in May and the Company is funded for an
ambitious multiyear drill program
Toronto, Ontario--(Newsfile Corp. - March 13, 2025) - American Eagle Gold Corp. (TSXV: AE) (OTCQB:
AMEGF) ("American Eagle" or the "Company") is pleased to announce that it has fulfilled all obligations
under its December 24, 2021, option agreement and has acquired 100% ownership of the NAK
Copper-Gold Porphyry Project.
Securing full ownership of NAK marks a major milestone, reinforcing American Eagle's commitment to
advancing this high-quality asset. Located in a prolific mining region, NAK has already delivered some
of British Columbia's top drill results, including 248m @ 1.10% CuEq and 302m @ 1.09% CuEq,
starting at 132m and 167m, respectively. The project hosts a large-scale porphyry system with multiple
near-1 km intercepts averaging ~0.5% CuEq, highlighting its significant resource potential.
With over 80% of NAK's prospective ground still untested, a 30,000m drill program set for 2025, and
with South32 and Teck as strategic investors, American Eagle is well-positioned to unlock substantial
value. The Company remains fully funded with ~$37 million in cash to execute an aggressive, multiyear
exploration strategy.
As part of the final option payment, American Eagle has issued 1,000,000 common shares to Bernie
Kreft and completed all required cash and work commitments to secure full title to the project.
"American Eagle Gold sincerely thanks Bernie Kreft for his invaluable partnership over the past three
years. Bernie secured NAK and recognized the project's potential long before our involvement.
Alongside the late Gary Artmont, he was instrumental in introducing the project to American Eagle and
helping define the initial drill targets—setting the stage for our success. We look forward to continuing
our collaboration with Mr. Kreft on NAK and exploring future opportunities together," states American
Eagle Gold CEO, Anthony Moreau.
American Eagle's 2025 Exploration Plans and Focus:
Near Surface Mineralization
A primary objective for 2025 is to further define and expand near-surface mineralization further,
enhancing the project's economic potential. NAK offers a rare combination of geological and
geographical advantages that American Eagle will leverage. Unlike many other porphyry prospects, the
NAK Project benefits from road access, gentle topography, low elevation, and proximity to infrastructure.
High-grade copper and gold mineralization has already been identified at surface, with significant
potential for additional discoveries across the property.
Key Targets Within the Main Zones
North Zone:
Historically defined by near-surface vein and disseminated chalcopyrite mineralization in
sedimentary rocks.
Expanded in 2022–2023 to include deeper bornite-rich conglomerate and monzonite dykes.
2024 drilling extended the zone northeast, encountering broad intervals of seriate-textured dykes
with disseminated bornite.
The
Northeast Expansion Zone
will be an immediate and large focus to expand the North Zone,
which remains open to the north, east and at depth, with step-out drilling planned to refine its
orientation and extent.
Central Zone:
The Central Zone links the historical North and South zones. It returned significant intercepts at
depth in all of American Eagle's 2022-24 drilling, but little systematic drilling has been undertaken
to date at shallower depths, up-dip of those intersections.
South Zone:
Hosts a large-scale gold-rich quartz stockwork mineralized body at surface.
Drilling aims to link the mineralized conglomerate intersected in NAK24-17 and -31 with the
broader South Zone.
Step-Out Targets and Emerging Zones
The
Southeast Expansion Zone
, south of the Babine porphyry, returned long intervals of
anomalous gold and copper in NAK22-09 and -36. Soil anomalies and mineralized outcrops
located in the area indicate further potential.
The
East Expansion Zone
will utilize additional geophysical surveys to refine targets within and
around the Babine porphyry, with scout drilling planned to test these areas.
Click to View Plan Map with 2025 Target Zones
Click to View Interactive NAK Map
Click to Watch Lead Geo Neil Prowse's Presentation on NAK
Exploration Beyond Drilling
The 2025 program will incorporate several non-drilling initiatives that will enhance the project.
Geophysics
: Aeromagnetic surveying and Controlled-Source Audio Magnetotellurics (CSAMT) to
refine targets in underexplored areas north, south, and east of the Babine Stock.
Metallurgical Studies
: Testing targeted drill core to assess recovery characteristics across
different mineralization styles.
Core Retrieval
: Historical drill core (predating American Eagle Gold) for drill holes with significant
shallow Main Zone intersections is stored on the NAK property and appears to be in good shape.
The Company will relog and resample this core to incorporate it into its model.
Timber Harvesting
: Collaborating with local logging groups and the Lake Babine First Nation to
manage previously permitted logging blocks, improving access to remote parts of the property.
Commitment to Community and Sustainability
American Eagle is committed to strong relationships with local stakeholders, including the Lake Babine
Nation, provincial authorities, and local contractors. The Company prioritizes transparent communication
and collaboration as exploration advances.
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 by American Eagle in 2022, 2023, and 2024 returned significant
intervals of high-grade copper-gold mineralization that reached 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.
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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
investors formed in the past two years with Teck 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/244373