Bald Eagle's Hot Springs Joint Venture Completes Drilling, Initial Core Logging, and Moves Forward with Core Cutting and Analysis Identified significant structures over majority of property. Historically such structures
Bald Eagle's Hot Springs Joint Venture
Completes Drilling, Initial Core Logging, and
Moves Forward with Core Cutting and Analysis
Identified significant structures over majority of property. Historically such structures
are known to host gold mineralization in
Nevada
Completed five core drill holes
Two holes drilled into identified structures to test for new gold mineralization throughout
all horizons from surface
Three holes drilled to extend gold mineraliztion at depth
Brecciation is consistent with epithermal gold mineralization. Company observed
significant brecciation and sulfide mineralization in drill core
Drill results currently being processed in the lab and results anticipated in due course
Additional drilling planned based on outcome of initial program
TORONTO
,
April 8, 2021
/CNW/ - Bald Eagle Gold Corp. ("Bald Eagle" or the "Company") (TSXV:
BIG) is pleased to announce the completion of the fieldwork portion of the current drill program at its
Hot Springs Joint Venture in
Nevada
(the "Property"). Five core holes have been drilled to vertical
depths averaging over 300 metres. Four of the holes were drilled to twin historic drill-holes and
investigate mineralization below the previously drilled depth of 200 metres. The program holes were
planned significantly deeper than historic drilling with the objective of advancing an epithermal
mineralization model and establishing correlation between mineralization and geophysical defined
anomalies and structures identified in the prior exploration programs.
Management Commentary:
Mr.
Sidney Himmel
, President, CEO and Director of the Company, "With the field drill program
completed, the Company expects initial analytical results to be received in the coming weeks.
Additional results will become available in succession. This project is located at the junction of the
prolific
Getchell-Comstock Gold Trend
and the northwestern Nevada Epithermal Province. Field
work and logging to date has been entirely consistent with our expectations regarding the Hot
Springs Property. The significant alteration and brecciation observed during core logging is common
with epithermal gold models in
Nevada
. Sample QA/QC has been vigorously implemented. Current
laboratory analysis will include gold and silver content by fire-assay methods, along with a multi-
element package which includes epithermal mineralization indicator elements such as arsenic and
antimony."
Exploration Program Update:
During the fourth quarter of 2020, a geophysics program was conducted, and consisted of six lines
spanning four kilometres of Controlled Source Audio-frequency Magneto-tellurics ("
CSAMT
") at 100
metre spacings and three lines spanning four kilometres of Induced Polarization ("IP") at 100 metre
spacings. The program was able to define specific structural features in the Harmony Formation with
promising physical characteristics for epithermal gold deposition. The Harmony Formation is a key
mineralization target for drilling. Promising stratigraphic horizons were identified during the program
including epithermal-type alteration and brecciation.
Preliminary interpretations from core logging indicate that the elevated IP chargeability response
represents sulphide mineralization, which is consistent with the objective of the geophysics program
completed. Zones of brecciation and comb-quartz/sulphide vein systems were observed with the
elevated sulphide content. This type of mineralization is encouraging since epithermal gold
mineralization in
Nevada
commonly occurs within sulphides. The alteration observed during the
program consisted argillic alteration, silicification, quartz-sericite-pyrite, veining, and other related
alteration.
The Hot Springs Property:
The Hot Springs Property is a joint venture between the Company and Osgood Mountain Gold LLC.
The Property consists of approximately 11,894 acres comprised of private mineral rights and
unpatented federal lode mining federal claims. This location in north-central
Nevada
is located at the
junction of the prolific
Getchell Gold Trend
and the northwestern Nevada Epithermal Province. Land
Position is situated approximately 25 miles West of the Twin Creeks,
Getchell and Pinson Mines
and
30 miles East of the Sleeper Mine.
On
March 5, 2021
, the Company filed an NI-43-101 report on the Property, entitled "NI 43-101
Technical Report, Hot Springs Gold Project,
Humboldt County, Nevada
". A set of Historical
data exists for 8,175 meters of drilling across 91 drill holes. The historic drill programs outlined a
near surface zone of gold mineralization in an area with dimensions of approximately 1,200 metres
by 400 metres. This area is known as the Dutch Flats Shear Zone.
The technical information in this news release has been reviewed and approved for disclosure by
Mark T. Smethurst
, P.Geo., Senior Geologist for Bald Eagle Gold Corp. and a "qualified person"
within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of
advanced exploration assets in known gold districts in the Americas. The Company will acquire
advanced exploration projects for advanced exploration and development. The Company will,
through evaluating historical data and utilizing modern exploration techniques and geological
concepts to enhance resources. The management team and board of directors of the Company
have an established track record of creating significant returns for investors and demonstrated
access to capital to advance the development of assets.
CAUTIONARY NOTES
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies
of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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 of an exemption from
such registration is available.
Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation. Generally, forward-looking information can be identified by the use of forward-
looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or state that certain acts, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information in this
press release may include, without limitation, the future operating or financial performance of Bald
Eagle, the estimates of potential quantity, grade, and metal and mineral content at the Property,
Bald Eagles's assessment of the reliability and relevance of the historical drill results; the ability of
the joint venture to operate the exploration and development programs for the Property, and the
anticipated timing of the second phase exploration work.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance or achievements of Wolf, as the
case may be, to be materially different from those expressed or implied by such forward-looking
information. Although Bald Eagle has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that such information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking information. Bald Eagle does not undertake to update any
forward-looking information, except in accordance with applicable securities laws.
SOURCE
Bald Eagle Gold Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/April2021/08/c4211.html
%SEDAR: 00045528E
For further information:
Sidney Himmel, President, CEO & Director, Telephone: +1 (416) 924-
2698, Email: [email protected]; Darren Collins, CFO & Director, Telephone: +1 (786)
633-1756, Email: darren.collins@baldeagle gold.com
CO: Bald Eagle Gold Corp.
CNW 07:00e 08-APR-21