Bald Eagle Appoints Dr. Tom Henricksen to Board of Advisors
Bald Eagle Appoints Dr. Tom Henricksen to
Board of Advisors
TORONTO
,
April 19, 2022
/CNW/ -
Bald Eagle Gold Corp.
("
Bald Eagle
" or the "
Company
")
(TSXV: BIG) (OTCQB: BADEF) (FSE: 6W0) is pleased to announce the appointment of Dr.
Tom
Henricksen
, B.Sc., Ph.D. to its Board of Advisors.
Dr. Henricksen is an exploration geologist with five decades of field experience and was the 2018
recipient of the Association for Mineral Exploration of
British Columbia's
Colin Spence
Award for
Excellence in Global Mineral Exploration. Dr. Henricksen received this prestigious award in
recognition of his outstanding contributions to mineral exploration, and for his involvement in a
multitude of significant global discoveries over the course of his career. Dr. Henricksen holds a B.Sc.
in Geology from the
University of Wisconsin
, and a Ph.D. in Economic Geology from
Oregon State
University
.
Dr. Henricksen has worked on 40 mineral exploration projects across various stages of
development, spanning 14 countries and 6 continents. Most notably, he brings with him an intimate
knowledge of the Company's flagship Hercules project, which was the basis of his Ph.D. thesis in
1974.
In 1983, he and his US Borax team discovered the
Rock Lake
stratiform copper-silver deposit in
western
Montana
, eventually outlining approximately
150 Mt
of 0.7% copper and almost 2 opt silver,
in a Precambrian quartzite hosted deposit, now being developed by Hecla Mining Corp.
In 2003, he and his Rio Tinto crew in
Peru
acquired and explored the Corani silver polymetallic and
Ollachea gold properties, both currently being developed for production.
In 2004 and 2005, Dr. Henricksen led the exploration team for Norsemont Mining in the development
of the Constancia porphyry copper project in
Peru
, which eventually sold to Hudbay Minerals Inc.
and is now in production.
He served as senior field geologist for Apoquindo Minerals Inc., which in
2006 won
a bid from Teck
Resources to explore and develop the Zafranal copper-gold deposit in
Peru
, resulting in the
discovery of a 400 million tonne resource.
In 2009, he and his associates
Frank Duval
and
David Elliott
, formed Midas Gold Corp. to acquire
the Yellowpine gold-antimony project in
Idaho
, which Tom subsequently developed into a
130 Mt
resource at 1.6 g/t gold. The project is now currently being developed for production by Perpetua
Resources.
In 2012, Dr. Henricksen served as Vice President of Exploration for Aegean Metals Group Inc., and
led the senior field team in identifying, evaluating, and ultimately acquiring two high-grade gold-
copper prospects, the Hod Maden and Ergama deposits in
Turkey
. Hod Maden is currently on pace
to become one of the most important producing mines in the region; a
November 2021
Feasibility
Study demonstrated the robust economic potential of a low-cost operation producing approximately
200k
ounces of gold per year over a 13-year mine life, with an after-tax net present value of
US$1.05B
, 2-year payback period, and an IRR of 36%
1
.
Tom has reviewed and evaluated numerous orogenic gold opportunities in
Africa
from 2013 to 2021,
including the private Karakani project now being explored in
Guinea
.
In 2014, Dr. Henricksen entered into negotiations to acquire the Hercules project on behalf of a
major mining corporation which he was consulting for at the time. Tom had worked on the Hercules
project almost 40 years earlier and recognized the Jurassic-aged volcanic rocks which occur in a
similar geological setting to that of many of his past discoveries. Despite numerous attempts to
acquire the project, a tenable deal could not be reached between parties at the time. Tom's
appointment to Bald Eagle's Board of Advisors will allow him to apply his extensive knowledge of
Jurassic-aged volcanic precious metals deposits towards the advancement and development of the
Hercules project.
"I am delighted to welcome Tom to our Board of Advisors," commented
Chris Paul
, Chief Executive
Officer of Bald Eagle. "Dr. Henricksen is a brilliant geologist and brings a track record of major
exploration success to the Company, having made multiple high-grade precious metal discoveries
around the world. More specifically, Tom has in-depth knowledge of the Hercules project, its history,
and its geological potential, having completed his Ph.D. on the subject in 1974. I have no doubt that
the tremendous success that has followed Tom throughout his career – combined with his specific
knowledge of the Hercules project – makes him the ideal candidate to bolster our technical team and
unlock value for Bald Eagle shareholders."
Dr.
Tom Henricksen
commented: "I have followed this project for a long time and I'm thrilled to be
able to contribute a geological understanding of the district, towards the Company's modern and
systematic approach to exploration. The Bald Eagle team has done an exceptional job in
consolidating a highly prospective land package, and I'm excited that it is finally receiving the
attention it deserves. Experience has shown me that Jurassic-aged volcanic belts, such as those
present at Hercules, are often very well-endowed with gold and silver. I look forward to the
upcoming summer drill campaign, alongside the new and ambitious team, and 5 decades more
experience under my belt."
__________________________________
1
NI 43-101 Technical Report – Feasibility Study, Hod Maden Project, Artmin Madencilik San. Tic. A.S., produced by GR Engineering Services, February 28, 2021
Stock Options
Bald Eagle also announces that it has granted 1,000,000 incentive stock options (the
"Options"
) to
advisors and consultants of the Company, with an effective date of
March 28, 2022
. These Options
vest immediately and will allow holders to purchase common shares in the Company at a price of
$0.09
per share, for a period of up to five (5) years from the effective date.
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of the
Hercules Silver Project, northwest of
Cambridge, Idaho
. The Company's management team brings
extensive and successful international experience with a focus on identifying and acquiring
prospective and under-explored precious metals properties worldwide. The board of directors have
an established track record of creating significant returns for investors and have demonstrated
access to capital to advance the development of assets.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in
the United States
. Any securities referred to herein have not and will not be registered
under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state
securities laws and may not be offered or sold within
the United States
or to U.S. persons unless
registered under the U.S. Securities Act and applicable state securities laws or an exemption from
such registration is available.
Disclaimer for Forward-Looking Information
This news release contains certain information that may be deemed "forward-looking information"
with respect to the Company within the meaning of applicable securities laws. Such forward-
looking information involves known and unknown risks, uncertainties and other factors that may
cause the Company's actual results, performance or achievements, or developments in the
industry to differ materially from the anticipated results, performance or achievements expressed
or implied by such forward-looking information. Forward-looking information includes statements
that are not historical facts and are generally, but not always, identified by the words "expects,"
"plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar
expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Although the Company believes the forward-looking information contained in this news release is
reasonable based on information available on the date hereof, by its nature, forward-looking
information involves assumptions and known and unknown risks, uncertainties and other factors
which may cause our actual results, level of activity, performance or achievements, or other future
events, to be materially different from any future results, performance or achievements expressed
or implied by such forward-looking information.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions,
risks and uncertainties associated with general economic conditions; the Covid-19 pandemic;
adverse industry events; the receipt of required regulatory approvals and the timing of such
approvals; that the Company maintains good relationships with the communities in which it
operates or proposes to operate; future legislative and regulatory developments in the mining
sector; the Company's ability to access sufficient capital from internal and external sources, and/or
inability to access sufficient capital on favorable terms; mining industry and markets in
Canada
and generally; the ability of the Company to implement its business strategies; competition; the risk
that any of the assumptions prove not to be valid or reliable, which could result in delays, or
cessation in planned work; risks associated with the interpretation of data, the geology, grade and
continuity of mineral deposits; the possibility that results will not be consistent with the Company's
expectations; as well as other assumptions, risks and uncertainties applicable to mineral
exploration and development activities and to the Company, including as set forth in the
Company's public disclosure documents filed on the SEDAR website at
www.sedar.com
.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE
REPRESENTS THE EXPECTATIONS OF BALD EAGLE AS OF THE DATE OF THIS PRESS
RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS
SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND
SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE BALD
EAGLE MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY
PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this press release.
SOURCE
Bald Eagle Gold Corp.
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For further information:
Chris Paul, CEO & Director, Telephone (250) 717-3151, Email:
[email protected]; Raymond D. HarariPresident & Director, Telephone +(507) 6675-
2221, Email: [email protected] or visit our website: www.baldeaglegold.com
CO: Bald Eagle Gold Corp.
CNW 08:58e 19-APR-22