Eagle Hill Intersects 10.59 g/t Gold Over 24.0 Meters and Expands Near Surface Gold Mineralization
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/27/12 -- Eagle Hill Exploration Corporation (TSX VENTURE: EAG) ("Eagle Hill" or the "Company") is pleased to release new assay results from its current drill program targeting the extensions of the Windfall Lake Gold Deposit in Northwestern Quebec. These results are part of an ongoing drill program designed to expand the size of the mineral resource estimate published in July 2012 that contained 538,000 ounces in the indicated category and 822,000 ounces in the inferred category.
This part of the drilling program is designed to expand the size of the thick, near surface, rich gold mineralization sitting within the first 100 meters from surface and referred to as the Zone 27 Upper Extension. Drill hole EAG-12-418 returned 10.59 g/t gold over 24.0 meters from an altered porphyry dyke cross-cutting a rhyolite unit at only 60 meters below the surface on section 2100 E. The individual assay results for this interval are listed on the Company's website along with the pierce point of the drillhole is illustrated on the longsection available at www.eaglehillexploration.com/sections.
Two other drill holes tested the eastern extension of the gold mineralization on section 2800 E. Drill hole EAG-12-413 intersected a wide mineralized interval assaying 3.1 g/t gold over 26.3 meters at only 50 meters below surface. Drill hole EAG-12-414 intersected the depth extension of the wide zone reported above and assayed 6.65 g/t gold over 3.0 meters. The two intersections are located 60 meters to the southeast of Zone 27 and occur in a porphyry dyke. These gold intersections indicate the possibility for an additional near surface zone, similar to the Zone 27 Upper Extension.
The results of the current drill program, initiated in late May 2012, continue to fulfill the objective set for this drill program by discovering additional gold mineralization to increase the size of the mineral resource at Windfall Lake.
The gold mineralized zones defined to date at Windfall Lake 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 included in the Main Zone of the July 2012 mineral resource estimation. 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 770 meters below the surface with intercepts such as 8.9 g/t Au over 14.0 meters and 5.5 g/t Au over 15.0 meters 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 at www.eaglehillexploration.com/sections.
The following table shows the most significant assay results discussed in this press release.
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Hole
number From To Assay Comments
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EAG-12-411 No significant result
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EAG-12-412 No significant result
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64.0 90.3 3.1 g/t Au over 26.3 m
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Incl. 65.80 66.5 9.21 g/t Au over 0.7 m
EAG-12-413 ------------------------------------------ South of Zone 27
Incl. 78.60 79.0 12.9 g/t Au over 0.4 m
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Incl. 87.70 90.3 16.36 g/t Au over 2.6 m
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71.3 72.0 6.67 g/t Au over 0.7 m Isolated intercept
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EAG-12-414 129.0 132.0 6.65 g/t Au over 3.0 m South of Zone 27, 45
m below EAG-12-413
intercept
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EAG-12-415 154.0 155.4 5.07 g/t over 1.4 m Isolated intercept
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116.8 117.3 8.28 g/t Au over 0.5 m Pyrite stockwork
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EAG-12-416 231.0 232.0 32.1 g/t Au over 1.0m Isolated intercept
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476.8 478.0 7.13 g/t over 1.2 m Zone 27 at depth
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EAG-12-417 Assays pending
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76.0 100.0 10.59 g/t Au over 24.0 m
------------------------------------------ Mineralized porphyry
EAG-12-418 incl. 80.0 83.9 12.25 g/t Au over 3.9 m dyke in the Upper
------------------------------------------ Extension of Zone 27
incl. 90.3 95.5 34.39 g/t Au over 5.2 m
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The true widths are interpreted to be approximately 60 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.
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:
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Quantity ('000 tonnes) Grade Gold (g/t) Contained Gold (ounces)
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Indicated 1,665 10.05 538,000
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Inferred 2,906 8.76 822,000
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Jean-Philippe Desrochers, Ph.D., P.Geo., 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 becoming an advanced stage gold exploration company with its systematic drilling 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
