Eagle Hill Drills 5.89 g/t Gold Over 18.6 m at Windfall Lake
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/09/12 -- Eagle Hill Exploration Corporation (TSX VENTURE: EAG) ("Eagle Hill" or the "Company") releases additional assay results from its current drill program targeting the upper and depth extensions of Zone 27 and the Mink Zone at the Windfall Lake gold deposit in Northwestern Quebec. In addition a new gold zone has been defined that extends from only 13 meters below surface to a depth of 350 meters. 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 of 18.6 meters assaying 5.89 g/t gold consisting of 2% to 10% pyrite in a typical sulphide stockwork with tourmaline. This interval includes a higher grade section of 11.42 g/t gold over 8.8 meters. The thick near surface gold mineralization is now known over a strike-length of 275 meters and remains completely open to the west. Eagle Hill is planning additional short drillholes to evaluate the western extension. Eagle Hill also intersected 5.48 g/t gold over 5.6 meters in a parallel gold zone at only 48 meters below surface, thus demonstrating that multiple parallel zones do exist close to surface.
New Zone
Two drill holes tested a poorly defined gold zone located between the Caribou and the Mink gold zones. Drillhole EAG-12-401 returned an intercept of 12.24 g/t gold over 3.0 meters. Drill hole EAG-12-403 assayed 1.91 g/t gold over 21.9 meters and drillhole EAG-12-406 intersected 48.3 g/t gold over 1.0 meter at only 13 meters below surface. Previous intercepts in this gold zone include 3.0 g/t gold over 5.2 meters (EAG-12-399), 41.3 g/t gold over 1.0 meter (EAG-12-391), and 2.9 g/t gold over 2.6 meters (ATO-99-18). To date this zone is known to extend from 13 meters below surface to a depth of 340 meters below surface.
The gold mineralized zones defined to date at Windfall Lake cover a lateral extension of more than 650 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 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, www.eaglehillexploration.com/sections.
The 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-12-398 70.00 75.60 5.48 g/t Au Zone 27 - South of the
over 5.6 m fault
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128.00 130.00 3.9 g/t Au Splay of Zone 27 Upper
over 2.0 m extension
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133.60 152.20 5.89 g/t Au Zone 27 - Upper
over 18.6 m extension, north of
fault
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incl. 143.4 152.20 11.42 g/t Au
over 8.8 m
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Incl. 143.4 144 39.9 g/t Au
over 0.6 m
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Incl. 149.0 150.1 57.1 g/t Au
over 1.1 m
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EAG-12-401 212.60 213.70 13.7 g/t Au Isolated zone
over 1.1 m
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259.00 262.00 12.24 g/t Au New zone
over 3.0 m
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472.00 476.00 3.67 g/t Au Zone 27
over 4.0 m
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EAG-12-402 442.00 443.00 7.35 g/t Au Zone 27
over 1.0 m
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EAG-12-403 163.60 185.50 1.91 g/t Au New zone
over 21.9 m
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incl. 171.00 175.00 3.66 g/t Au
over 4.0 m
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EAG-12-404 116.95 118.00 6.95 g/t Au Isolated intercept
over 1.05 m
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282.80 283.20 26.5 g/t Au Isolated intercept
over 0.4 m
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EAG-12-406 30.50 31.50 48.3 g/t Au New zone
over 1.0 m
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106.90 107.40 27.4 g/t Au Isolated intercept
over 0.5 m
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The true widths are interpreted to be approximately 70 percent of reported width. Other drill holes of this sequence not presented in this table returned only anomalous gold values or have assay results pending.
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.
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 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 Contained Gold
tonnes) Grade Gold (g/t) (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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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 contain 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 the 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