FN Series Drilling Program Confirms New Area of Gold Mineralization at Bruce Channel September 10, 2007
TORONTO, September 10, 2007 – Gold Eagle Mines Ltd. (TSX: GEA) (“Gold Eagle” or the “Company”) is pleased to announce it’s latest drill results from the FN Series of holes on its 100% owned Gold Eagle property in Red Lake, Ontario. The Gold Eagle property is situated along the Red Lake Trend, west of Goldcorp's Red Lake and Campbell Mines and immediately south-west of Goldcorp’s Cochenour-Willans Mine. Highlights - Latest drilling results from the FN Series (FN 1-2 and FN 1-3) confirms a significant new area of gold mineralization, named the Finn Zone (after Finntown, one of the first settlements on McKenzie Island).
- The Finn Zone lies within the Balmer Assemblage approximately 450 metres west-southwest of the Bruce Channel Discovery mineralized envelope.
- Drilling is continuing at the FN Series and results will be released once they become available.
- Upon completion of the FN Series of holes, the rig will be moved to the Bruce Channel Discovery mineralized envelope, and will commence a series of step-out holes towards the Finn Zone.
- Mr. Chris Collins appointed as VP of Exploration
The FN Series are collared on McKenzie Island approximately 1.5 kilometres west-southwest of the collar of BC 21 on the mainland. The FN Series holes were initiated as a regional reconnaissance exploration program designed to obtain data on the stratigraphy and geology of the south-eastern area of the Gold Eagle property. Drilling has successfully intersected carbonate zones and host rocks which bear striking similarities to units intersected within the current Bruce Channel Discovery mineralized envelope which lies approximately 450 metres away. FN 1-2
The FN 1-2 “wedge” hole was started as a step-out from the FN 1-1 “mother” hole at a depth of 1,040 metres with an azimuth of 173o and a dip of 081o. It was pushed south-eastwards before being allowed to curve gradually to the northeast to its final depth of 2,529.6 metres. FN 1-2 intersected a strong carbonate zone within the Balmer Assemblage with associated silicification from approximately 2,404 metres to 2,413 metres. This was followed by a succession of altered mafic, volcanic and clastic sediments to the final hole depth. | FN 1-2 | | Intersection
(in Metres) | Length | Gold | | | From | To | Metres | Feet | Grams
per Tonne
(g/t) | Ounces
per Ton
(oz/t) | | | 2,501.40 | 2,506.20 | 4.80 | 15.75 | 7.97 | 0.23 | | | *Including | 1.80 | 5.91 | 18.45 | 0.54 | | | * The above 5.91 feet of 0.54 oz/t includes 1.97 feet of 0.99 oz/t | FN 1-3
The FN 1-3 “wedge” hole was started as a step-out from the FN 1-2 hole at a depth of 1,495 metres with an azimuth of 099o and a dip of -73o. Two further wedges were used to push the hole further to the south to allow for a large step out. The hole reached a depth of 2,559.25 metres at a horizontal distance from FN 1-2 of approximately 140 metres. The hole intersected a series of altered mafic, volcanic and clastic sediments with minor associated cherts. | FN 1-3 | | Intersection
(in Metres) | Length | Gold | | | From | To | Metres | Feet | Grams
per Tonne
(g/t) | Ounces
per Ton
(oz/t) | | | 1,551.55 | 1,551.88 | 0.33 | 1.08 | 9.55 | 0.28 | | | 2,071.80 | 2,072.80 | 1.00 | 3.28 | 4.10 | 0.12 | | | 2,096.45 | 2,096.82 | 0.37 | 1.21 | 9.50 | 0.28 | VG | | 2,338.30 | 2,340.00 | 1.70 | 5.58 | 4.21 | 0.12 | VG | | 2,431.10 | 2,432.75 | 1.65 | 5.41 | 5.87 | 0.17 | VG | Notes: - VG – visible gold
- Lengths reported are core intersection lengths and do not represent true widths
- It is anticipated that true width estimates will be made possible after additional drilling
- Conversion Method: grams per tonne (g/t) multiplied by 0.292 equals troy ounces per short ton (oz/t)
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