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American Eagle Gold receives drill permit for its NAK Copper-Gold Project, says 4,000-metre diamond drilling program expected to commence

Published 2022-08-08, 07:25 a/m
© Reuters American Eagle Gold receives drill permit for its NAK Copper-Gold Project, says 4,000-metre diamond drilling program expected to commence
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American Eagle Gold Corp (TSX-V:AE) said it has received its drill permit for its NAK Copper-Gold Project in north-central British Columbia, Canada and added that a planned 4,000-metre (m) diamond drilling program is expected to commence in the coming days.

The company noted that NAK is a classic porphyry target that exhibits all the signs of a large copper-gold system. Previous owners defined a large shallow copper-gold footprint that is open at depth. Reinterpretation of historical ZTEM and geophysics defined several deeper exploration targets, which will be tested with 5-6 drill holes.

American Eagle said its exploration program will test the most compelling geophysical anomalies at depth and its drill plan is designed to vertically intersect the core of these new geophysical targets, which are situated directly below the shallow low-grade resource. Previous drilling has intersected wide zones of copper-gold (Cu-Au) mineralization, including DH95-15, which returned a grade of 0.35% Cu and 0.645 grams per ton (g/t) Au over a width of 168.5m starting 5.5m from the surface.

READ: American Eagle advances towards drilling known mineralized target at its copper-gold porphyry project in British Columbia

The company said it believes the key to advancing the NAK project will be to discover and delineate additional mineralization that extends beyond the historical shallow drilling.

Historical drilling defined a large surface copper and gold footprint measuring 2,500m x 1,500m open in all directions. However, historical drilling had been restricted to the upper parts of the mineralized alteration zone, testing to an average vertical depth of only 170m. American Eagle's current drill program will test mineralization below the historical shallow drilling.

The NAK project exhibits a strong magnetic signature with close geological and geophysical similarities to Newcrest's Red Chris and Newmont's Saddle copper-gold deposits located northwest of the property. The project is in the Babine Copper-Gold Porphyry District. All previous historical data has indicated excellent potential exists below the current limits of the known shallow copper-gold mineralization.

American Eagle Gold is focused on exploring its NAK project in the Babine Copper-Gold Porphyry district in central British Columbia. The company is fully funded for NAK's 2022 exploration program and is currently permitted to drill.

American Eagle has contracted CJ Greig and Associates to advise and execute the company's exploration program at NAK. Geologist and president of CJ Greig & Associates, Charlie Greig, is a recipient of the prestigious 2022 Bill Dennis Award, recognizing his contribution to the prospecting and exploration industry or a significant mineral discovery.

Contact the author at jon.hopkins@proactiveinvestors.com

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