Eagle Hill Confirms Continuity of Near Surface Mineralization With 10.86 g/t Gold Over 15.8 Meters
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/16/12 -- Eagle Hill Exploration Corporation (TSX VENTURE: EAG)(OTCQX: EHECF)(FRANKFURT: EH0) ("Eagle Hill" or the "Company") is pleased to release additional assay results from its current drill program targeting the upper and at depth extensions of Zone 27 at the Windfall Lake Gold Deposit in Northwestern Quebec. New results confirm continuity of near surface thick gold zones and further identify the extension of Zone 27 below the Red Dog intrusion. These results are part of an ongoing drill program designed to expand the size of the mineral resource estimate released on July 25, 2012.
Near surface mineralization
Near surface drilling on Zone 27 returned another wide interval assaying 10.87 g/t gold over 15.8 meters (drillhole EAG-12-409). This interval includes several high grade intervals such as 76.6 g/t gold over 1.0 meter, 17.1 g/t gold over 1.1 meter, and 29.4 g/t gold over 0.9 meters. The individual values are presented in a table at the end of this press release. In addition, the same drill hole intersected 1.91 g/t gold over 9.3 meters in a parallel zone, located only 10 meters to the southeast of Zone 27.
Zone 27 - Deep mineralization
Drill hole EAG-11-309 was extended another 420.5 meters to a depth of 1052.5 meters to test the gold mineralization at depth, below the Red Dog intrusion. The drill hole intersected Zone 27 below the Red Dog with 3.49 g/t gold over 5 meters. This intersection represents a 75 meter step-out to the East and demonstrates the continuity of Zone 27 at depth. In addition, this hole intersected deeper gold mineralization with 10.8 g/t gold over 1.0 meter and 39.2 g/t gold over 0.7 meters. Eagle Hill also extended drill hole EAG-11-311 to test Zone 27 another 100 meters to the west of drill hole EAG-12-320. The assay results are still pending for this drill hole and will be released as soon as they become available.
Zone 27 - Eastern Extension
Additional drilling in the eastern extension of gold Zone 27 demonstrates that this zone continues to deliver solid gold results. Drill hole EAG-12-407 returned an interval of 19.84 g/t gold over 2.0 meters and drill hole EAG-12-408 assayed 5.4 g/t gold over 0.8 meter. Furthermore, the zone remains open for expansion to the east. The area covered by the drilling was not included in the mineral resource estimate released on July 25, 2012. Eagle Hill will continue to drill on section 2800 to expand the zone even further to the east.
The gold mineralized zones defined to date in the Main Zone cover a lateral extension of more than 700 meters and include, from South to North, the Caribou South zone, the Caribou zone, the Mink zone, Zone 27 South, Zone 27, the Mallard zone, and the Mallard North zone. All the zones are near vertical and vary in thickness between 2 meters and 35 meters. In addition to the near surface gold mineralization present at Windfall, recent drilling has demonstrated that mineralized zones continue to a depth of at least 770 meters below surface. Drill holes EAG-11-309ext included in this release, as well as previous drill holes with intercepts such as 8.9 g/t gold over 14.0 meters and 5.5 g/t gold over 15.0 meters have shown the existence of mineralized zones below the Red Dog intrusion (March 1, 2012 press release).
A map of the Windfall Lake property outlining the location of the gold zones, drill holes and areas of potential expansion, together with cross-sections, a longitudinal section and pictures of core showing the mineralization style have been posted on Eagle Hill's website, www.eaglehillexploration.com/sections.
The table shows the most significant assay results discussed in this press release.
---------------------------------------------------------------------------
Hole number Section From To Assay Comments
---------------------------------------------------------------------------
EAG-12-407 2750 134.00 135.00 10.97 g/t Au Small zone
over 1.0 m between Zone 27
and the Mink
Zone
----------------------------------------------------
325.80 327.80 19.84 g/t Au Zone 27 -
over 2.0 m eastern
extension
---------------------------------------------------------------------------
EAG-12-408 2750 407.00 407.80 5.4 g/t Au Zone 27 -
over 0.8 m eastern
extension
---------------------------------------------------------------------------
EAG-12-409 2250 58.00 67.30 1.91 g/t Au Parallel near
over 9.3 m surface gold
zone
-----------------------------------
incl. 60.7 62.00 8.13 g/t Au
over 1.3 m
----------------------------------------------------
84.00 99.80 10.87 g/t Au Zone 27 - upper
over 15.8 m extension
-----------------------------------
incl. 86.5 87.50 76.6 g/t Au
over 1.0 m
-----------------------------------
incl. 96.9 97.80 29.4 g/t Au
over 0.9 m
---------------------------------------------------------------------------
EAG-12-410 2425 102.00 135.80 1.01 g/t Au Zone parallel
over 33.8 m to Zone 27 -
upper extension
---------------------------------------------------------------------------
EAG-11-309 ext 2550 743.00 756.00 2.04 g/t Au Zone 27 below
over 13.0 m Red Dog
-----------------------------------
incl. 756.00 3.49 g/t Au
751.00 over 5.0 m
----------------------------------------------------
997.00 998.00 10.8 g/t Au Isolated
over 1.0 m intercept
----------------------------------------------------
1024.00 1024.70 39.2 g/t Au Pyrite
over 0.7 m stringers with
visible gold
---------------------------------------------------------------------------
The true widths are interpreted to be approximately 70 per cent of reported
width.
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 tonne and by metallic sieve method for samples containing significant amounts of pyrite or visible gold. All assays were performed by ALS Chemex Laboratory Group, in Val d'Or, Que. 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.
The following table shows the individual assay results from drill hole EAG-12-409.
---------------------------------------------------------------------------
Gold
Drill Hole From (m) To (m) (g/t) Description
---------------------------------------------------------------------------
EAG-12-409 84 85 2.67 Rhyolite; 5-7% pyrite, 1%
sphalerite
---------------------------------------------------------------------------
EAG-12-409 85 85.6 8.59 Rhyolite; 30% pyrite, 1% sphalerite
---------------------------------------------------------------------------
EAG-12-409 85.6 86.1 0.87 Rhyolite; 2-3% pyrite
---------------------------------------------------------------------------
EAG-12-409 86.1 86.5 15.85 Rhyolite; 5% pyrite
---------------------------------------------------------------------------
EAG-12-409 86.5 87.5 76.6 Rhyolite; 20-30% pyrite
---------------------------------------------------------------------------
EAG-12-409 87.5 88.3 3.73 Rhyolite; 15-20% pyrite, trace
sphalerite
---------------------------------------------------------------------------
EAG-12-409 88.3 89 5.23 Rhyolite; 2% pyrite
---------------------------------------------------------------------------
EAG-12-409 89 90.1 0.96 Rhyolite; 2-3% pyrite
---------------------------------------------------------------------------
EAG-12-409 90.1 91 5.77 Rhyolite; 5-7% pyrite; 1-2%
sphalerite
---------------------------------------------------------------------------
EAG-12-409 91 91.6 6.02 Rhyolite; 5% pyrite
---------------------------------------------------------------------------
EAG-12-409 91.6 92.7 17.1 Rhyolite; 20-30% pyrite; 1-2%
sphalerite
---------------------------------------------------------------------------
EAG-12-409 92.7 93.6 9.87 Rhyolite; 7-10% pyrite; trace
sphalerite and chalcopyrite
---------------------------------------------------------------------------
EAG-12-409 93.6 94.1 2.19 Porphyry; 5% pyrite
---------------------------------------------------------------------------
EAG-12-409 94.1 95 1.64 Porphyry; 5-7% pyrite
---------------------------------------------------------------------------
EAG-12-409 95 95.7 1.5 Porphyry; 10-15% pyrite
---------------------------------------------------------------------------
EAG-12-409 95.7 96.4 2.25 Porphyry; 5-7% pyrite
---------------------------------------------------------------------------
EAG-12-409 96.4 96.9 1.54 Rhyolite; 3% pyrite
---------------------------------------------------------------------------
EAG-12-409 96.9 97.8 29.4 Porphyry; 15-20% pyrite; 1%
chalcopyrite and sphalerite,
VISIBLE GOLD
---------------------------------------------------------------------------
EAG-12-409 97.8 98.4 4.37 Porphyry; 15-20% pyrite
---------------------------------------------------------------------------
EAG-12-409 98.4 99.2 0.469 Porphyry; 1% pyrite
---------------------------------------------------------------------------
EAG-12-409 99.2 99.8 1.505 Rhyolite; 1% pyrite
---------------------------------------------------------------------------
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. During July 2012, the Company received its second mineral resource estimate, the results of which are displayed in the table below:
---------------------------------------------------------------------------
Quantity ('000 tonnes) Grade Gold (g/t) Contained Gold (ounces)
---------------------------------------------------------------------------
Indicated 1,665 10.05 538,000
---------------------------------------------------------------------------
Inferred 2,906 8.76 822,000
---------------------------------------------------------------------------
Jean-Philippe Desrochers, PhD, PGeo, is a qualified person registered in Quebec as defined by NI-43-101 and has reviewed the technical information that this press release contains.
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
Statements in this news release, which are not purely historical, are forward-looking statements within the meaning of applicable United States and Canadian securities laws, including any statements regarding beliefs, plans, expectations or intentions regarding the future. These statements involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein. Such risks and uncertainties may include, but are not limited to, the ability to obtain additional financing, title to mineral properties, the ability to manage growth, acquisitions of technology, equipment or human resources, the effect of economic and business conditions, the ability to attract and retain skilled personnel, the risks inherent in exploration and factors outside the control of the Company. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's most recent Annual Information Form filed on SEDAR which is available at www.sedar.com. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities.
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
