Eagle Hill intersects 15,24 g / t gold on 2,9 meters and expands Zone 27 to the east
VANCOUVER, BRITISH COLUMBIA - 23. July 2012 (TSX.V: EAAG) Eagle Hill Exploration Corporation ("Eagle Hill" or the "Company") is pleased to announce new assay results from its current drill program, based on the eastward extension of Windfall Lake's 27 Zone in northwestern Quebec concentrated, to announce. These results are part of an ongoing drill program designed to expand the scope of the mineral resource estimate published in November 2011.
The initial results of systematic drilling in the eastward extension of the 27 gold zone indicate that there are other significant gold occurrences in this zone at depth. Drill hole EAG-12-399 intersected an 2,9 meter wide section with 15,24 g / t gold and hole XAG12-400 an 3,7 meter section with 12,1 g / t gold. In addition, the zone to the east is still open for expansion. Near-surface systematic drilling above the two holes, in the 2700 and 2750 sectors, intersected further pyrite mineralization. Results from these holes will be announced as soon as the data are available. The area where the drilling took place was not included in the November 2011 Mineral Resource estimate. Eagle Hill will continue drilling in the 2800 sector to extend the zone to the east.
In addition to the results from the Eastern Zone, we are also pleased with the new results from the Upper Extension of the 27 Zone near the surface. Drill hole EAG-12-392 intersected an 2,1 meter wide section of 5,5 g / t gold. Further analysis results from drill hole EAG-12-409, where visible gold mineralization has been observed in a broad zone of mineralization with up to 15% pyrite, are still pending. A series of holes has been completed to test near-surface gold mineralization over a strike length of 400 meters between sector 2125 m and sector 2525 m East. The ultimate goal of this drill program is to define surface near-surface gold resources that can be mined during an early day mining phase near the 27 Zone Top Extension.
The drilling program initiated at the end of May 2012 focuses primarily on three target areas:
1. First, detailed definition drilling is taking place in near-surface gold mineralization to determine whether existing gold deposits can be mined on a day-to-day basis.
2. Second, the known gold zones are extended to the east by a systematic drilling scheme; The extension of this gold mineralization to a depth of up to 450 meters could be done through the existing ramp infrastructure on the Windfall Lake property.
3. The third is the discovery of additional gold mineralization beneath the Intrusion Red Dog, where significant gold mineralization has been discovered as part of our recent drilling. Eagle Hill is of the opinion that more gold mineralization can be found at greater depth because Archaean gold deposits generally have a much greater vertical extent than an extent along strike. Windfall Lake gold mineralization currently has a horizontal strike length of 650 meters and is open to both east and west.
In addition to near-surface gold mineralization and the eastward extension of the 27 Zone, wells beneath Red Dog have intersected significant pyrite mineralization associated with visible gold. The results of the other holes drilled to the east and below the Red Dog intrusion are pending.
The gold mineralization zones previously identified at Windfall Lake extend laterally across 650 meters and include Caribou South Zone, Caribou Zone, Mink Zone, 27 South Zone, 27 Zone, Mallard Zone, and the South to North Zone Zone Mallard North. All zones are nearly vertical and are powerful between 2 and 35 meters. In addition to near-surface gold mineralization in windfall, recent drilling has also shown that the mineralization zones extend from surface to a depth of 770 meters. Below the Intrusion Red Dog sections are 8,9 g / t Gold sections on 14,0 Meter and 5,5 g / t Gold on 15,0 Meter (1 March 2012).
A map of the Windfall Lake Property showing the location of the gold zones, drill holes, and potential expansion areas, as well as cross sections, a longitudinal cross section, and images of the core showing the nature of the mineralization are available on the Eagle Hill website available:
www.eaglehillexploration.com/sections
The main results contained in this press release are summarized in the table below.
The gold samples reported in this communication were analyzed using a standard 30 g weighted sample with final atomic absorption or samples greater than 10 grams per tonne by gravimetric method. Samples containing significant amounts of pyrite or visible gold were examined by metallic sieving. All analyzes were performed by the ALS Chemex Laboratory Group in Val d'Or, Quebec. The sampling and analysis procedures are subject to a comprehensive quality assurance and quality control program. Quality control also uses duplicate samples, blanks and standard samples.
Jean-Philippe Desrochers, Ph.D., P.Geo. is a Qualified Person in Quebec, NI-43-101, who has reviewed the technical information in this news release.
About the Windfall Lake Property
The Windfall Lake Property consists of 362 contiguous claims (over 12.000 hectares) in the Abitibi mineralized belt in northern Quebec. This area between Val d'Or and Chibougamau is known for its gold and copper production as well as its excellent exploration and mining infrastructure. In the past, extensive base exploration work has been carried out on the Windfall Lake property. In addition to the independently acquired mining rights on the Windfall Lake property, Eagle Hill has also signed option agreements with Murgor Resources Inc., Cliffs Natural Resources Inc. (formerly Freewest Resources Canada Inc.) and Noront Resources Inc. to acquire the Windfall Lake property. In November 2011, the Company received its first mineral resource estimate, the results of which are shown in the table below.
About Eagle Hill Exploration Corporation
Eagle Hill Exploration Corporation is a Canadian mineral exploration company focused on the exploration and development of gold and precious metals concessions. The Company aims to become an advanced stage exploration company with the acquisition of the Windfall Lake high grade gold project in Urban Township, Quebec, between Val-D'Or and Chibougamau. Eagle Hill is primarily interested in projects that have, or could have, high resource potential. The Company’s website at www.eaglehillexploration.com and publications at www.sedar.com provide additional information on the property, as well as information on the Company’s management and operations.
The TSX Venture Exchange and its regulators (referred to in the Articles of Association of the TSX Venture Exchange as Regulation Services Providers) accept no responsibility for the adequacy or accuracy of this announcement.
FOR THE BOARD:
"P. Bradley Kitchen "
Bradley Kitchen, President
More information about:
David Matousek, Corporate Communications
Eagle Hill Exploration Corporation
Phone: 604.697.5791
E-mail: [email protected]
Website: www.eaglehillexploration.com
Nathalie Dion
MI3 Communications Financieres Inc. (Montreal)
Phone: 514.904.1333
E-mail: [email protected]
Website: www.mi3.ca
FORWARD-LOOKING STATEMENTS
Statements in this press release that are not purely historical in nature are forward-looking statements within the meaning of applicable US and Canadian securities laws. This includes statements about views, plans, expectations and intentions about the future. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements contained herein. Such risks and uncertainties include, but are not limited to, the acquisition of additional finance and title rights to concession areas, the ability to grow, the acquisition of technology, facilities and equipment, and the recruitment of workers, the impact of the business and economic situation, the ability to hire professionals permanently employ the risks and factors that are typical for exploration and that are outside the control of the company. These forward-looking statements are accurate as of the date this press release is prepared. The Company is under no obligation to update these forward-looking statements or to explain the reasons why actual results could differ materially from those anticipated in the forward-looking statements. While the Company believes that the assumptions, plans, expectations and intentions expressed in this news release are reasonable, there can be no assurance that such assumptions, plans, expectations or intentions will prove to be correct. Investors should consider all information described here and also consider the risk factors in the company's most recent annual report available on SEDAR at www.sedar.com. This news release does not constitute an offer to sell or a solicitation to buy the securities.
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