Eagle Hill Exploration Corporation ( TSXV: EAG ) on Wednesday, February 12, 2014, reported the final assay results from its Fall 2013 drill program at the Windfall Lake Gold Project in Quebec, which included 11.2 grams per tonne(g/t) gold over 37.3 metres and 415.7 g/t gold over 7.8 metres.
Eagle Hill drilled more than 28,000 metres in 78 holes from September to December 2013. The drill program expanded two gold zones that hold the bulk of the mineral resource, confirmed the extension of mineralization to the southwest of the main zone, and demonstrated that mineralization extends at depth.
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The drill program also encountered some very high-grade intervals, underscoring the potential of the Windfall Lake deposit. Eagle Hill plans to follow up with additional drilling in 2014 to infill new mineralized areas identified with the Fall 2013 program.
“Overall the program proved exactly what we wanted it to – that the deposit is open for expansion laterally and at depth. We’re getting consistently good results, and some truly spectacular results, all of which underscore the potential of this deposit,” Eagle Hill’s Vice President of Communications & Investor Relations Rhylin Bailie told SmallCapPower.com.
Eagle Hill is planning to release an updated mineral resource estimate in the first quarter of 2014 that will incorporate more than 57,000 metres of new drilling. Its last resource estimate, from July 2012, outlined an Indicated mineral resource of 538,000 ounces of gold at 10.1 g/t as well as an Inferred resource of 822,000 gold ounces of gold at 8.8 g/t. This places the deposit in the top 7% (in terms of grade) of resource-stage gold projects worldwide, according to the company.
Hill Exploration completed a flow-through financing for $2 million in December 2013, which will be used for additional exploration drilling in 2014. This will focus either on expansion drilling to test prospective areas that could expand the resource, or on infill drilling to upgrade the existing resource to a higher category, depending on the results of the soon-to-be-released mineral resource update.
To learn more about Eagle Hill Exploration Corporation, you can view their initiation research report, research bulletins, analyst commentaries and CEO video interview on their SmallCapPower.com Investor Hub: Eagle Hill Exploration Investor Hub
About Eagle Hill Exploration:
Eagle Hill Exploration Corporation (TSXV: EAG) is a Canadian mineral exploration company focused on the exploration and development of the high-grade Windfall Lake Gold Deposit, located between Val-d’Or and Chibougamau in Quebec. In August 2013, Southern Arc Minerals and Dundee Corporation invested an aggregate of $12 million to purchase a controlling interest in Eagle Hill, consolidate ownership of the Windfall Lake property and fund an aggressive exploration program.
Ubika Research has received compensation from Eagle Hill Exploration to provide analyst research coverage.
For additional information contact:
Vikas Ranjan, Managing Director
Email: vikas@ubikacorp.com
