why EAG hit my radar screenThese were the values why EAG hit my radarscreen as from aug last year
These values can again pop-up any day now reading this ofthe 13th of Oktober:
This aggressive exploration strategy is intended to complete a series of activities with the objective of expanding and better defining the gold resource at the Windfall Lake Property, including:
- A 25,000 meter diamond drill program started on October 5th continuing through to May 2012 with two drill holes already completed. Initial assay results anticipated within 6 weeks;
- Initially, the current drill program will focus on expanding the discovery of the potential 7.5 kilometer strike length identified in the Company's most recently announced drill hole, EAG-11-288 with 14.2 meters of 7. 5 g/t of Gold;
- Generate a model based on the inversion of the IP data covering a 7.5 kilometer-long gold-bearing shear zone that extends to the East-North East of the main gold zones which is intended to identify additional gold targets along this gold-bearing shear zone; and
- Eagle Hill will continue updating its GoCad property-scale modeling to better define the Windfall Lake Property's potential targets.
Eagle Hill is well funded to begin this next phase of exploration without the need for further financing. The funds received from the May 2011 private placement and an Accounts Receivable of over $1.3 million dollars in tax incentives payable by the Quebec Government for exploration work carried out by Eagle Hill during 2010 and 2011 have the Company in a strong financial position.
Hope to see more of these to be reported soon,
Eagle Hill Intersects Near Surface High Grade Gold Including 26.89 g/t Gold Over 4.00 Meters at the Windfall Lake Property
Eagle Hill Intersects 6.25 Meters of 94.50 g/t Gold and Also Identifies Another New High Grade Gold Zone at the Windfall Lake Property -
Eagle Hill Intersects Near Surface, High Grade Gold at Windfall Lake Including 18.82 g/t Over 9.90 Meters and 53.64 g/t Over 4.55 Meters -
Eagle Hill Continues to Extend Zone 27 and Intersects 12.0 Meters of 17.36 g/t (Uncut) in a New Mineralized Structure at Windfall
Drill holes 227 to 236 are the first ten holes from the summer drill program at Windfall Lake Property all drilled from one set-up. The summer drill program is scheduled to be 14 holes and will encompass approximately 5,000 meters in total. This phase of the drill program is just over 80% complete and the drill has been moved to a second set-up for the final 4 holes. Further assay results from the program will be released as they become available. The current drill program is the first phase of an intended 15,000 meter drill program which will have phase 2 and 3 executed over the next 6 to 9 months.
This current drill program was designed to better understand the geological structure of the gold mineralization in Zone 27. This zone encompasses historic drill holes such as NOT-04-27 (3.90 g/t gold over 35.55 meters), NOT-05-73 (39.94 g/t gold over 17.30 meters) and EAG-10-196 (14.2 g/t gold over 52.00 meters). The results from the current drill program confirm the continuity of the gold mineralization throughout Zone 27. Discovery of the potential new zone close to the surface was not anticipated. The results from the entire program will be used to update the Windfall Lake Property model. The model will then help assess new gold mineralization so that a better understanding of the property's gold deposits can be determined.