American Eagle Gold (TSXV:AE) Intensifies Drilling Efforts at NAK Copper-Gold Project with Second Rig, Reports Promising Mineralization​​​​​​​​​​​​​​​​


American Eagle Gold Corp. (TSXV:AE) (OTCQB:AMEGF) has announced that a second diamond drill rig is now operational on its NAK copper-gold project in British Columbia. Early reports indicate that drilling has encountered chalcopyrite, bornite, and molybdenite mineralization consistent with nearby holes drilled previously.

The company is anticipating receiving the final merged inversion modeling of its geophysical data, which includes further IP surveying across five lines completed recently, along with three lines completed in late 2023 and historical data collected by previous operators. Preliminary inversion modelling of this data, combined with the results of the company’s 2022 and 2023 drilling, has been used to guide the placement of this season’s drill collars.

The 2024 drill program, currently planned for 15,000 metres, aims to link, better define, and expand upon the historical North and South zones, which the company showed in its 2022 and 2023 drill programs to extend to considerable depths along a strike length of 750 m and across a width of 400 m. Notable intercepts from 2023 include 900 m of 0.50% Copper Equivalent from surface in the North zone and 302 metres of 1.09% Copper Equivalent within 606 m of 0.74% Copper Equivalent starting from 98 metres downhole in the South Zone.

The NAK Project lies within the Babine copper-gold porphyry district of central British Columbia and has excellent infrastructure through all-season roads. Historical drilling and geophysical, geological, and geochemical work at NAK, which began in the 1960’s, tested only to shallow depths but revealed a very large near-surface copper-gold system that measures over 1.5 km x 1.5 km.

American Eagle follows a rigorous sampling methodology and internal QA/QC protocol, with samples submitted to ALS Geochemistry in Langley, British Columbia for preparation and analysis. All samples are analyzed for gold, silver, copper, molybdenum and a suite of 45 other major and trace elements.

American Eagle is focused on exploring its NAK copper-gold porphyry project in west-central British Columbia, Canada. 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.​​​​​​​​​​​​​​​​

Highlights from the results are as follows:

  • NAK24-18 has surpassed 750 metres and still drilling. It was collared 100 m north of NAK23-17, with the goal of testing favourable geology and its related geophysical expression in the area west of the Babine porphyry stock.
  • NAK24-19, being drilled by the new rig, aims to test the near surface gold-rich mineralization encountered at the historical South Zone, to depth to the southeast. It is intended to traverse through a large and untested area along the southern margin of the Babine porphyry stock.
  • NAK24-20, which will be drilled by the first rig, is planned to collar 100 m to the north of NAK24-18, and will continue to test the area being tested by that hole, with the aim of tracking the “IP shoulder” (a moderate chargeability response) which links the historical North and South zones at NAK.

Collar details for holes drilled in the 2022, 2023 and 2024 drill program: Table 1

Hole UTM_Grid UTM_East UTM_North Azimuth Dip
NAK22-01 NAD83_Z9 675281 6129359 n/a -90
NAK22-02 NAD83_Z9 675281 6129359 340 -70
NAK22-03 NAD83_Z9 675201 6129658 n/a -90
NAK22-04 NAD83_Z9 675181 6129862 n/a -90
NAK22-05 NAD83_Z9 675105 6130067 n/a -90
NAK22-06 NAD83_Z9 675376 6129782 260 -77
NAK22-07 NAD83_Z9 675181 6129862 170 -81
NAK23-08 NAD83_Z9 675341 6129341 270 -60
NAK23-09 NAD83_Z9 675990 6129284 20 -65
NAK23-10 NAD83_Z9 675357 6129415 270 -60
NAK23-11 NAD83_Z9 675215 6129340 270 -60
NAK23-12 NAD83_Z9 674999 6129846 80 -70
NAK23-13 NAD83_Z9 675205 6129773 270 -60
NAK23-14 NAD83_Z9 675260 6129934 260 -70
NAK23-15 NAD83_Z9 675211 6129232 270 -60
NAK23-16 NAD83_Z9 675166 6129479 265 -65
NAK23-17 NAD83_Z9 674969 6129377 105 -73
NAK24-18 NAD83_Z9 674961 6129472 90 -77
NAK24-19 NAD83_Z9 675219 6129390 120 -55
NAK24-20 NAD83_Z9 674946 6129573 90 -70
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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