American Eagle Expands North Zone High-Grade Mineralization
American Eagle Gold reports significant copper-gold mineralization at NAK's North Zone. Key highlights include NAK24-27 intercepting 50m of 1.01% Copper Equivalent (CuEq) within 252m of 0.48% CuEq, and NAK24-30 intercepting 515m of 0.40% CuEq including 112m of 0.56% CuEq. The drilling results expand NAK's high-grade mineralized envelope westward and northward, suggesting a deep-rooted mineralized system. With South32's recent $29 million strategic investment and over $37 million in treasury, drilling programs are funded for the next three years.
American Eagle Gold riporta significative mineralizzazioni di rame-oro nella Zona Nord di NAK. I punti salienti includono NAK24-27 che ha intercettato 50m di 1,01% di Rame Equivalente (CuEq) all'interno di 252m di 0,48% CuEq, e NAK24-30 che ha intercettato 515m di 0,40% CuEq, comprese 112m di 0,56% CuEq. I risultati di perforazione espandono l'involucro mineralizzato ad alto grado di NAK verso ovest e nord, suggerendo un sistema mineralizzato di origine profonda. Con il recente investimento strategico di South32 di 29 milioni di dollari e oltre 37 milioni di dollari in tesoreria, i programmi di perforazione sono finanziati per i prossimi tre anni.
American Eagle Gold informa sobre una significativa mineralización de cobre-oro en la Zona Norte de NAK. Los aspectos más destacados incluyen que NAK24-27 interceptó 50m de 1.01% de Cobre Equivalente (CuEq) dentro de 252m de 0.48% CuEq, y NAK24-30 interceptó 515m de 0.40% CuEq, incluyendo 112m de 0.56% CuEq. Los resultados de perforación expanden el envoltorio mineralizado de alta ley de NAK hacia el oeste y el norte, sugiriendo un sistema mineralizado de raíces profundas. Con la reciente inversión estratégica de South32 de 29 millones de dólares y más de 37 millones de dólares en tesorería, los programas de perforación están financiados para los próximos tres años.
아메리칸 이글 골드는 NAK의 북부 구역에서 중요한 구리-금 광물화를 보고했습니다. 주요 하이라이트로는 NAK24-27이 252m의 0.48% 구리 동등물(CuEq) 내에서 50m의 1.01% CuEq를, NAK24-30이 0.40% CuEq의 515m를 포함하여 0.56% CuEq의 112m를 발견한 것입니다. 드릴링 결과는 NAK의 고품질 광물화 구역을 서쪽과 북쪽으로 확장시켜, 깊은 곳에 뿌리를 둔 광물화 시스템을 제안합니다. South32의 최근 2900만 달러의 전략적 투자와 3700만 달러 이상의 재원을 바탕으로, 향후 3년간 드릴링 프로그램이 자금 지원됩니다.
American Eagle Gold fait état d'une minéralisation significative de cuivre-or dans la zone nord de NAK. Les points clés comprennent NAK24-27 qui a intercepté 50m de 1,01% d'Équivalent Cuivre (CuEq) dans 252m de 0,48% CuEq, et NAK24-30 qui a intercepté 515m de 0,40% CuEq, y compris 112m de 0,56% CuEq. Les résultats de forage élargissent l'enveloppe minéralisée de haute teneur de NAK vers l'ouest et le nord, suggérant un système minéralisé profondément enraciné. Avec le récent investissement stratégique de South32 de 29 millions de dollars et plus de 37 millions de dollars en trésorerie, les programmes de forage sont financés pour les trois prochaines années.
American Eagle Gold berichtet über signifikante Kupfer-Gold-Mineralisierung in der Nordzone von NAK. Zu den wichtigsten Punkten gehört, dass NAK24-27 50m mit 1,01% Kupferäquivalent (CuEq) innerhalb von 252m mit 0,48% CuEq durchschnitten hat, und NAK24-30 hat 515m mit 0,40% CuEq einschließlich 112m mit 0,56% CuEq interceptiert. Die Bohrergebnisse erweitern das hochgradige mineralisierte Umfeld von NAK nach Westen und Norden und deuten auf ein tief verwurzeltes mineralisiertes System hin. Mit South32s jüngster strategischen Investition von 29 Millionen Dollar und über 37 Millionen Dollar in der Kasse sind die Bohrprogramme für die nächsten drei Jahre finanziert.
- Strong copper-gold mineralization intercepted in North Zone with high-grade results
- Secured $29M strategic investment from South32
- Strong treasury position of $37M funding three years of drilling
- Expansion of mineralized envelope to west and north
- None.
American Eagle's North Zone Highlights:
NAK24-27 intercepted 50 m of
1.01% Copper Equivalent (CuEq)within 252 m of
0.48% CuEqwithin 600 m of
0.33% CuEq
NAK24-30 Intercepted 515 m of 0.40 % CuEq
Including 112 m of
0.56% CuEqAnd including 61 m of
0.71% CuEq
Assay results for eight holes are pending
Toronto, Ontario--(Newsfile Corp. - December 3, 2024) - American Eagle Gold Corp. (TSXV: AE) (OTCQB: AMEGF) ("American Eagle" or the "Company") is pleased to announce the intersection of strong copper-gold mineralization at the north zone, expanding NAK's high-grade mineralized envelope to the west and north. Holes NAK24-27 and NAK24-30 intersected strongly mineralized conglomerate and zones of bornite and chalcocite veining within rocks of the Babine porphyry stock
Watch CEO Anthony Moreau and Lead Geologist Neil Prowse Discuss Recent Results
Broad Intervals of High Grade within a Large System
American Eagle believes that NAK represents a large, well-mineralized system with significant potential for growth. The drill holes reported in this news release provide evidence of a deep-rooted mineralized system extending beyond the limits of previous drilling. Confirmed grades and visually rich mineralization observed in recent northern drill holes (NAK24-33, -35, -37, and -38) suggest broad connectivity of the system to the north (refer to the northerly hole map).
Additionally, the Company is reporting results from NAK24-29, its first shallow infill hole drilled between the western drill fence of NAK Phase 1 and the porphyry stock. NAK24-29 intersected consistent copper mineralization throughout, and the results track a zone of increased grade extending to the north from the south zone, that appears to steadily improve northwards with depth.
"One of our primary focuses remains unlocking the potential of the North Zone, where we are confident a high-grade source lies at depth and may extend to surface. We believe 2025 will be a pivotal year as we refine our targeting efforts and showcase NAK's potential. With South32's recent
Plan Map, Long Section and Drill Core Images:
NAK24-27 Assay Results (Table 1) and Details*
| Hole | From (m) | To (m) | Length (m) | Cu (%) | Au (g/t) | Ag (g/t) | Mo (ppm) | CuEq (%) |
| NAK24-27 | 694.2 | 744.24 | 50.04 | 0.62 | 0.37 | 2.3 | 139.51 | 1.01 |
| Within | ||||||||
| NAK24-27 | 694.2 | 857 | 162.8 | 0.39 | 0.19 | 1.62 | 70.9 | 0.59 |
| Within | ||||||||
| NAK24-27 | 692 | 944 | 252 | 0.31 | 0.16 | 1.35 | 59.7 | 0.48 |
| Within | ||||||||
| NAK24-27 | 343.92 | 944 | 600.08 | 0.21 | 0.11 | 0.82 | 52.96 | 0.33 |
| Within | ||||||||
| NAK24-27 | 25.35 | 977 | 951.65 | 0.15 | 0.07 | 0.59 | 44.54 | 0.24 |
* Copper Equivalent (CuEq) shown in Tables for drill intersections are calculated on a basis of US
NAK24-27 was collared 100 m west of NAK23-12, and drilled eastward. It confirms that the higher grade mineralization encountered in NAK24-12 adjacent to and locally within the Babine porphyry stock extends westward at depth. NAK24-27 was collared in coarse- to fine-grained sedimentary rocks hosting sparse copper mineralization, occurring primarily as mm- to cm-scale semi massive sulphide veins. At a depth of approximately 343 m, well-mineralized conglomerate was intersected, with the strongest mineralization occurring below 700 m. Mineralization consists primarily of bornite and chalcopyrite, as partial matrix replacement, as disseminations within conglomerate clasts, and in local zones of mm- to cm-scale semi-massive sulphide veins. NAK24-27 tracks the strongest mineralization encountered in holes NAK23-12 and NAK22-04 steeply to depth, where it appears to parallel the the steeply west-dipping contact of the Babine porphyry stock.
NAK24-30 Assay Results (Table 2) and Details*
| Hole | From (m) | To (m) | Length (m) | Cu (%) | Au (g/t) | Ag (g/t) | Mo (ppm) | CuEq (%) |
| NAK24-30 | 581 | 642.11 | 61.11 | 0.49 | 0.23 | 2.47 | 42.51 | 0.71 |
| Including | ||||||||
| NAK24-30 | 393 | 505 | 112 | 0.4 | 0.11 | 1.97 | 79.07 | 0.56 |
| and Including | ||||||||
| NAK24-30 | 711 | 899 | 188 | 0.21 | 0.1 | 1.91 | 103.06 | 0.37 |
| within | ||||||||
| NAK24-30 | 384.34 | 899 | 514.66 | 0.26 | 0.11 | 1.59 | 70.43 | 0.4 |
| within | ||||||||
| NAK24-30 | 44 | 899 | 855 | 0.19 | 0.08 | 1.22 | 55.86 | 0.3 |
NAK24-30 was collared 100 m north of NAK23-12 and drilled eastward. In a manner similar to hole NAK24-27, its mineralization increased downhole, with moderately mineralized sandstone and conglomerate giving way to strongly mineralized conglomerate at a depth of 384 m, where broad zones of disseminated chalcopyrite and bornite host local zones of dense veining (bornite-chalcopyrite +/- chalcocite). NAK24-30 remained in mineralized conglomerate, hosting subintervals of sandstone, and with both intruded by porphyry dykes of intermediate composition, down to a depth of approximately 660 m, where the Babine porphyry stock was encountered. Mineralization within the porphyry stock remained strong, returning 0.37 % CuEq from 711 m to End of hole. It is characterized by abundant veins, veinlets, and fracture coatings of bornite and chalcocite, which appear to have high-temperature potassic alteration haloes. The hole was ended at 899 m within moderately well-mineralized rocks of the stock. This is suggestive of the potential for further mineralization, and perhaps for another mineralized center, lying to the north and east
NAK24-29 Assay Results (Table 4) and Details*
| Hole | From (m) | To (m) | Length (m) | Cu (%) | Au (g/t) | Ag (g/t) | Mo (ppm) | CuEq (%) |
| NAK24-29 | 506.34 | 537.3 | 30.96 | 0.2 | 0.12 | 1.27 | 46.41 | 0.34 |
| within | ||||||||
| NAK24-29 | 293.06 | 599 | 305.94 | 0.1 | 0.06 | 0.49 | 39.32 | 0.18 |
| within | ||||||||
| NAK24-29 | 68.68 | 599 | 530.32 | 0.07 | 0.06 | 0.38 | 52.48 | 0.15 |
| and including | ||||||||
| NAK24-29 | 476.83 | 480.65 | 3.82 | 0.75 | 0.06 | 5.3 | 6.18 | 0.84 |
NAK24-29 was collared 100 m east of NAK24-18 (refer to the southerly hole map) and drilled eastward. It intersected sandstone to a depth of 200 m, and weakly mineralized conglomerate below that and down to a depth of 460 m, where dyking, possibly as marginal phases related to the Babine porphyry stock, was encountered. The strongest copper grades in NAK24-29 were intersected over 3.82 m, in bornite mineralized, sparsely plagioclase feldspar phyric monzonite which returned
Collar details for holes drilled in the 2022, 2023 and 2024 drill program: Table 6
| Hole | UTM_Grid | UTM_East | UTM_North | Azimuth | Dip | TD | News Release |
| NAK22-01 | NAD83_Z9 | 675281 | 6129359 | n/a | -90 | 881 | 07-Nov-22 |
| NAK22-02 | NAD83_Z9 | 675281 | 6129359 | 340 | -70 | 984 | 05-Dec-22 |
| NAK22-03 | NAD83_Z9 | 675201 | 6129658 | n/a | -90 | 941 | 25-Jan-23 |
| NAK22-04 | NAD83_Z9 | 675181 | 6129862 | n/a | -90 | 548 | 25-Jan-23 |
| NAK22-05 | NAD83_Z9 | 675105 | 6130067 | n/a | -90 | 824 | 02-Mar-23 |
| NAK22-06 | NAD83_Z9 | 675376 | 6129782 | 260 | -77 | 920 | 02-Mar-23 |
| NAK22-07 | NAD83_Z9 | 675181 | 6129862 | 170 | -81 | 874 | 02-Mar-23 |
| NAK23-08 | NAD83_Z9 | 675341 | 6129341 | 270 | -60 | 881 | 09-Aug-23 |
| NAK23-09 | NAD83_Z9 | 675990 | 6129284 | 20 | -65 | 837 | 14-Sep-23 |
| NAK23-10 | NAD83_Z9 | 675357 | 6129415 | 270 | -60 | 855 | 19-Sep-23 |
| NAK23-11 | NAD83_Z9 | 675215 | 6129340 | 270 | -60 | 836 | 19-Sep-23 |
| NAK23-12 | NAD83_Z9 | 674999 | 6129846 | 80 | -70 | 929 | 12-Oct-23 |
| NAK23-13 | NAD83_Z9 | 675205 | 6129773 | 270 | -60 | 620 | 08-Jan-24 |
| NAK23-14 | NAD83_Z9 | 675260 | 6129934 | 260 | -70 | 749 | 08-Jan-24 |
| NAK23-15 | NAD83_Z9 | 675211 | 6129232 | 270 | -60 | 617 | 08-Jan-24 |
| NAK23-16 | NAD83_Z9 | 675166 | 6129479 | 265 | -65 | 743 | 08-Jan-24 |
| NAK23-17 | NAD83_Z9 | 674969 | 6129377 | 105 | -73 | 810 | 08-Jan-24 |
| NAK24-18 | NAD83_Z9 | 674961 | 6129472 | 90 | -77 | 914 | 20-Aug-24 |
| NAK24-19 | NAD83_Z9 | 675219 | 6129388 | 120 | -55 | 951 | 20-Aug-24 |
| NAK24-20 | NAD83_Z9 | 674946 | 6129573 | 90 | -72 | 933 | 20-Aug-24 |
| NAK24-21 | NAD83_Z9 | 675264 | 6129415 | n/a | -90 | 419 | 20-Aug-24 |
| NAK24-22 | NAD83_Z9 | 674927 | 6129673 | 84 | -71 | 943 | 21-Oct-24 |
| NAK24-23 | NAD83_Z9 | 675264 | 6129415 | 340 | -70 | 526 | 20-Aug-24 |
| NAK24-24 | NAD83_Z9 | 675264 | 6129415 | 340 | -55 | 950 | 21-Oct-24 |
| NAK24-25 | NAD83_Z9 | 674930 | 6129766 | 86 | -74 | 923 | 21-Oct-24 |
| NAK24-26 | NAD83_Z9 | 675264 | 6129415 | 300 | -60 | 586 | 21-Oct-24 |
| NAK24-27 | NAD83_Z9 | 674898 | 6129857 | 90 | -70 | 977 | This Release |
| NAK24-28 | NAD83_Z9 | 675357 | 6129415 | 115 | -55 | 632 | 21-Oct-24 |
| NAK24-29 | NAD83_Z9 | 675062 | 6129481 | 88 | -70 | 599 | This Release |
| NAK24-30 | NAD83_Z9 | 675021 | 6129939 | 88 | -72 | 899 | This Release |
| NAK24-31 | NAD83_Z9 | 675063 | 6129939 | 75 | -78 | 494 | Pending |
| NAK24-32 | NAD83_Z9 | 675049 | 6129352 | 88 | -70 | 605 | Pending |
| NAK24-33 | NAD83_Z9 | 675044 | 6129581 | 88 | -70 | 962 | Pending |
| NAK24-34 | NAD83_Z9 | 675031 | 6130018 | 87 | -70 | 669 | Pending |
| NAK24-35 | NAD83_Z9 | 675105 | 6130067 | 43 | -65 | 922 | Pending |
| NAK24-36 | NAD83_Z9 | 675509 | 6129440 | 115 | -55 | 641 | Pending |
| NAK24-37 | NAD83_Z9 | 675105 | 6130067 | 75 | -55 | 842 | Pending |
| NAK24-38 | NAD83_Z9 | 675181 | 6129862 | 0 | -55 | 890 | Pending |
QA/QC and Sampling Protocol
Sampling at NAK follows a rigorous methodology and internal QA/QC protocol. Drill core is halved on site, and samples are submitted to ALS Geochemistry in Langley, British Columbia for preparation and analysis. ALS is accredited to the ISO/IEC 17025 standard for assays. All analytical methods include quality control standards inserted at set frequencies. The entire sample interval is crushed and homogenized, and 250 g of the homogenized sample is pulped. All samples were analyzed for gold, silver, copper, molybdenum and a suite of 45 other major and trace elements. Analysis for gold is by fire assay fusion followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) on 30 g of pulp. Analysis for silver, copper, and molybdenum is by four-acid digestion followed by Inductively Coupled Plasma Mass Spectroscopy (ICP-MS). All other major and trace elements are analyzed by four-acid digestion followed by ICP-MS.
Internal QA/QC protocols dictate that individual core samples are no less than 70 cm and no greater than 3 m in length. To control standard, blank, and duplicate sample frequency, and to better constrain pass/fail re-analysis intervals, samples are submitted to the lab in 50 sample batches. Within each 50-sample batch, there is one gold-copper standard and two coarse reject duplicates, inserted at regular intervals, and two blank samples, inserted sequentially following well-mineralized samples where possible, for a total of
About American Eagle's NAK Project
The NAK Project lies within the Babine copper-gold porphyry district of central British Columbia. It has excellent infrastructure through all-season roads and is close to the towns of Smithers, Houston, and Burns Lake, B.C., which lie along a major rail line and Provincial Highway 16. Historical drilling and geophysical, geological, and geochemical work at NAK, which began in the 1960's, tested only to shallow depths. Still, the work revealed a very large near-surface copper-gold system that measures over 1.5 km x 1.5 km. Drilling completed in 2022, 2023, and 2024 by American Eagle has returned significant intervals of high-grade copper-gold mineralization that reach beyond and much deeper than the historical drilling, indicating that zones of near-surface and deeper mineralization, locally with considerably higher grades, exist within the broader NAK property mineralizing system.
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About American Eagle Gold Corp.
American Eagle is focused on exploring its NAK copper-gold porphyry project in west-central British Columbia, Canada.
Q.P. Statement
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.
Forward-Looking Statements
Certain information in this press release may contain forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding whether the Company will be able to complete the Offering as anticipated, the receipt of regulatory approval, including the approval of the TSX Venture Exchange, to complete the Offering, the intended use of proceeds and intended drill program or its anticipated results at the Company's NAK project, the ability of the Company to make the qualifying expenditures as anticipated by management, and other matters ancillary or incidental to the foregoing. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Therefore, actual results might differ materially from those suggested in forward-looking statements. American Eagle Gold Corp. assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to American Eagle Gold Corp. Additional information identifying risks and uncertainties is contained in filings by American Eagle Gold Corp. with Canadian securities regulators, which filings are available under American Eagle Gold Corp. profile at www.sedarplus.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accept responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232276
FAQ
What are the latest drilling results for American Eagle Gold (AMEGF) at NAK's North Zone?
How much funding did American Eagle Gold (AMEGF) receive from South32?
What is the current treasury position of American Eagle Gold (AMEGF)?
