NEWS: Wide Gold Intervals from Windfall Property in Quebec
posted on
Jan 13, 2010 09:54AM
Windfall Lake Property, located near Val d'Or, Quebec: Indicated 538,000 oz. (10.05 gpt) / Inferred 822,000 oz. (8.76 gpt) (July 2012)
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 13, 2010) - Eagle Hill Exploration Corp. ("Eagle Hill" or the "Company") (TSX VENTURE:EAG - News), a natural resource exploration company in the gold resource sector, is pleased to announce encouraging assay results from its initial splitting and assaying of up to 8,700 meters of previously drilled, but unsampled, core from the Windfall Lake Property located in Urban Township, Quebec. These new results, combined with previously unannounced historic results, indicate the presence of large mineralized gold zones measuring up to 41.1 metres in width.
The results of the first drill holes sampled by Eagle Hill are highlighted by significant gold grades over wide intervals such as 2.83 grams per tonne of gold over 41.1 metres and 5.95 grams per tonne of gold over 21.35 meters as well as narrower intervals with high grade gold values of 64.2 grams per tonne of gold over 1.0 meter. Partial assay results for small intervals within two of those drill holes were previously released by Noront Resources Ltd. ("Noront") and are noted in the table below.
Previously unannounced historic results include drill hole NOT-04-27 with 3.90 grams per tonne of gold over a 34.55 meter interval. The unannounced historical results were obtained through Eagle Hill's review of all know data on the Windfall Lake Property as part of the Company's development of an exploration model.
Eagle Hill has realized that, in addition to the extremely rich, but narrow structures, the gold mineralization at the Windfall Lake Property occurs also in large intervals with fairly consistent gold mineralization. With the current information, the true widths of the gold mineralized zones are unknown.
Those new results, combined with the historical results, call for Eagle Hill to refine the exploration model and to focus on both high grade vein deposits encompassed within a bulk tonnage scenario for the Windfall Lake Property. By comparison, deposits such as the high-volume bulk mining Goldex mine in Val d'Or has proven mineral reserves at 1.95 g/t gold.
The following table shows a sampling of some of the uncut newly expanded and historic assay values that support Eagle Hill's hypothesis that, in addition to high grade zones, the Windfall Lake Property contains large mineralized zones with significant gold grades. A more detailed table of the new assay results is available on Eagle Hill's website at www.eaglehillexploration.com/projects/assay-results.
----------------------------------------------------------------- Newly Expanded and Historic Assay Values ----------------------------------------------------------------- Au From To Length (g/t) Hole Number (m) (m) (m) (ii) ----------------------------------------------------------------- NOT-07-115(i) 237.00 238.00 1.00 64.20 ----------------------------------------------------------------- NOT-07-157(i) 237.65 259.00 21.35 5.95 Includes 240.00 245.00 5.00 7.04 Includes 255.00 259.00 3.00 25.51 (Source Noront news release Nov 6, 2007) ----------------------------------------------------------------- NOT-07-157(i) 284.90 326.00 41.10 2.83 Includes 300.00 302.00 3.00 11.42 (Source Noront news release Nov 6, 2007) Includes 310.00 311.00 1.00 18.29 ----------------------------------------------------------------- NOT-07-159(i) 319.40 331.00 11.60 1.76 Includes 319.40 321.40 2.00 5.49 (all new assays) ----------------------------------------------------------------- NOT-04-27 381.20 415.75 34.55 3.90 Includes 411.00 413.40 2.40 18.32 ----------------------------------------------------------------- NOT-05-73 351.45 368.75 17.30 39.94 Includes 355.05 356.00 0.95 699.53 ----------------------------------------------------------------- NOT-05-82 310.80 331.70 20.90 9.51 Includes 316.30 317.00 0.70 238.27 ----------------------------------------------------------------- NOT-05-83 224.10 235.35 11.25 3.63 Includes 227.20 228.75 1.55 15.73 ----------------------------------------------------------------- (i) Includes new assay results, (ii) no bottom cut-offs applied
The new assay values listed above are from the current splitting and assaying program of previously drilled but unassayed core. Eagle Hill has completed approximately 85% of the splitting of the identified 8,700 meters and intends to release the results as they become available.
Gold analyses reported in this release were performed by standard fire assay using a 30g charge with Atomic Absorption finish and a gravimetric finish for assays greater than 10 g/t. 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 that includes duplicate samples, blanks and analytical standards.
Dr. Jean-Philippe Desrochers, Geo. and Vice-President of Exploration for Murgor Resources Inc. is a Qualified Person as defined by NI-43-101 that supervised the field work reported in this press release and reviewed the technical information it contains. Murgor Resources Ltd. ("Murgor") has entered into a services contract with the Company in which Murgor will conduct the exploration on the Windfall Lake Property (see the Company's press release dated Oct. 13, 2009).
About the Windfall Lake gold project
The Windfall Lake Property is comprised of 340 contiguous claims (10,991 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 historic grassroots exploration work. Eagle Hill has signed options with Murgor Resources Inc., Freewest Resources Canada Inc., and Noront Resources Inc. to acquire 340 contiguous claims for a total of 10,991 hectares.
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 and precious metal exploration company with its acquisition of the Windfall Lake gold project, located in Urban Township, Quebec, between Val-d'Or and Chibougamau. 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.
Shareholders who would like to sign up to receive information by email directly from Eagle Hill, particularly when new press releases, regulatory filings or other information is disclosed, are asked to visit the company's website at http://www.eaglehillexploration.com/contact/investor-information.
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 both companies have 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.
Brad Kitchen
Eagle Hill Exploration Corporation (Vancouver)
604.638.8072
604.688.9620 (FAX)
info@eaglehillexploration.com
www.eaglehillexploration.com
Neil Simon
Investor Cubed Inc. (Toronto)
647.258.3310 or Toll Free: 1.888.258.3323
nsimon@investor3.ca
www.investor3.ca