Eagle Hill Exploration Corporation: New Drill Results Expand Windfall Lake Gold Zones With Assays Including 22.85 g/t of Gold Over 25.0 Meters
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/27/12 -- Eagle Hill Exploration Corporation ('Eagle Hill' or the 'Company') (TSX VENTURE: EAG) continues to expand the size of gold zones 27 and Mink, and announces drill results from five other completed drill holes testing the Mallard and the Caribou zones. The Company has also posted its first longitudinal section of Zone 27 on its website at www.eaglehillexploration.com/sections.
Drill hole EAG-12-318 intersected significant gold mineralization close to surface in the upper extension of Zone 27 with 22.85 g/t Au over 25.0 meters. This intersection which is located in a historically poorly tested area is only 65 meters below surface and is believed to represent the faulted equivalent of Zone 27. Historically this sector had been deemed of lower potential, until a recent geological interpretation suggested the faulted extension of Zone 27 may be located to the south of the fault. Drill hole EAG-12-318 proved to be this interpretation to be correct. This is illustrated on the cross-section located on the Company's website at www.eaglehillexploration.com/sections. A complete meter by meter list of the assay values for the best results in drill hole EAG-12-318 is available on the Company's website at www.eaglehillexploration.com/assay_results.
Drill hole EAG-12-314 also intersected significant gold grades in the Mink zone with 25.0 g/t Au over 3.0 meters within a zone containing 3-20% pyrite stringers. This drill hole also returned 12.95 g/t over 0.85 meters and 31.8 g/t Au over 0.9 meters in smaller intervals also containing 10-30% pyrite stringers that are parallel to the Mink Zone.
'The intersection on Zone 27 occurred in a previously untested area. This result confirms the structural extension of Zone 27 through the fault that breaks this gold zone. The expansion of this high grade gold zone now has significantly more potential as we now understand that the gold structure continues through the fault,' explained Brad Kitchen, President and Chief Executive Officer of Eagle Hill. 'The Company is working towards expanding the gold mineral resource at the Windfall Lake Gold Property with its current 25,000 meter diamond drill program. Continued results such as these will not only increase the size of the resource but will also improve the already high grade nature of this gold resource.'
Further, drill holes EAG-12-310 to EAG-12-317 tested the Caribou south zone, the Caribou Zone, and the Mallard zone with only anomalous results. This is partly due to lower sulphide content of the mineralized intervals, or by the fact that zones were cross-cut by thicker porphyry dykes than previously interpreted. The best assay results were 11.0 g/t Au over 0.8 of a meter and 17.4 g/t Au over 1.0 meter in isolated intervals of drill hole EAG-12-314 and 8.88 g/t Au over 1.0 meter in an isolated interval of drill hole EAG-12-318.
Eagle Hill is still awaiting the assay results for several intervals of core for drill holes EAG-12-319 to EAG-12-343. All results will be released as soon as they become available. Eagle Hill has now completed approximately 17,000 meters of its 25,000 meters drill program which should be complete the beginning of April. Another phase of drilling is also planned for the summer 2012.
A cross-section showing the extension of Zone 27 towards surface and a longitudinal section of Zone 27 can be viewed at www.eaglehillexploration.com/sections A map of the Windfall Lake Property outlining the location of the gold zones, drill holes and areas of potential expansion has been posted also on Eagle Hill's website.
The following table shows the most material assay results from nine (9) of the most recent drill holes.
TABLE OF BEST ASSAY RESULTS - WINDFALL LAKE (WINTER 2011/2012)
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Drill hole
Number From (m) To (m) Gold interval Comments
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EAG-12-310 131.0 132.0 5.04 g/t Au over 1.0 m Isolated value
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EAG-12-311 No significant results
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EAG-12-312 413.0 414.0 6.09 g/t Au over 1.0 m Isolated value
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EAG-12-313 No significant results
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EAG-12-314 240.1 248.8 1.3 g/t Au over 8.7 m Caribou South Zone
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488.0 488.8 11.0 g/t Au over 0.8 m Isolated value
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496.0 497.0 17.4 g/t Au over 1.0 m Isolated value
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513.8 516.8 23.5 g/t Au over 3.0 m Mink Zone
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Zone parallel to
528.5 529.4 12.95 g/t Au over 0.85 m Mink Zone
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Zone parallel to
536.0 536.9 31.8 g/t Au over 0.9 m Mink Zone
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EAG-12-315 32.5 33.0 4.48 g/t Au over 0.5 m Isolated value
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EAG-12-316 Abandoned at 32 m due to excessive deviation
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EAG-12-317 Abandoned at 32 m due to excessive deviation
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EAG-12-318 Upper extension of
69.0 94.0 22.85 g/t Au over 25.0 m Zone 27
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19.19 g/t Au over 25.0
or 69.0 94.0 m(i)
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incl.
69.0 70.0 99.7 g/t Au over 1.0 m
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incl.
73.0 74.0 53.6 g/t Au over 1.0 m
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incl.
76.0 77.0 129.5 g/t Au over 1.0 m
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incl.
86.0 87.0 162 g/t Au over 1.0 m
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Isolated value in
101.0 102.0 8.88 g/t Au over 1.0 m porphyry dyke
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(i) High assay values capped to 100 g/t as defined by SRK consulting from
statistical analysis for Zone 27.
Gold analyses reported in this release were performed by standard fire assay using a 30 gram charge with atomic absorption finish and a gravimetric finish for assays greater than 10 grams per ton (or tonne??). Assays returning results over 1 ounce per ton of gold by atomic absorption will be re-assayed using the metallic sieve method. All assays were performed by ALS Chemex Laboratory Group, in Val d'Or, Quebec. Sampling and analytical procedures are subject to a comprehensive quality assurance and quality control program. The QA-QC program, includes duplicate samples, blanks and analytical standards.
Eagle Hill's Chief Geologist is Jean-Philippe Desrochers, Ph.D., P.Geo., a Qualified Person registered as defined by National Instrument 43-101who has reviewed the technical information that this press release contains.
About the Windfall Lake Property
The Windfall Lake Property is comprised of 362 contiguous claims (over 12,000 hectares) in the Abitibi mineralized belt of northern Quebec. This area between Val-d'Or and Chibougamau is known for its gold and copper production and excellent infrastructure for exploration and mining. Historically, the Windfall Lake Property has had extensive grassroots exploration work. Along with its independently acquired claims at the Windfall Lake Property, Eagle Hill has also signed options with Murgor Resources Inc., Cliffs Natural Resources Inc. (formerly, Freewest Resources Canada Inc.), and Noront Resources Inc. to acquire the Windfall Lake Property.
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 metal prospects. The Company is set to become an advanced stage gold exploration company with its acquisition of the Windfall Lake high grade gold project, located in Urban Township, Quebec, between Val-d'Or and Chibougamau. Eagle Hill seeks projects that contain or have potential to have large resource potential. The Company's website at www.eaglehillexploration.com and public filings at www.sedar.com provide additional information on its properties and other information with respect to its management and operations.
ON BEHALF OF THE BOARD,
P. Bradley Kitchen, President
FORWARD LOOKING STATEMENTS
This release contains 'forward-looking statements' within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.
Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'planning', 'planned', 'expects' or 'looking forward', 'does not expect', 'continues', 'scheduled', 'estimates', 'forecasts', 'intends', 'potential', 'anticipates', 'does not anticipate' or 'belief' or describes a 'goal' or variation of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved.
Forward-looking statements are based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements 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 statements.
Neither 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 release.
Contacts:
Eagle Hill Exploration Corporation
David Matousek
Corporate Communications
604.697.5791
info@eaglehillexploration.com
www.eaglehillexploration.com
MI3 Communications Financieres Inc. (Montreal)
Nathalie Dion
514.904.1333
nathalie@mi3.ca
www.mi3.ca
