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Eagle Hill Exploration Corporation V.EAG



TSXV:EAG - Post by User

Post by gold_Gold_GOLDon Aug 05, 2014 11:14am
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Post# 22809793

Guess Drilling just started

Guess Drilling just started

August 5, 2014 – Vancouver, BC – Eagle Hill Exploration Corporation (TSX-V: EAG, OTCQX: EHECF) (“Eagle Hill” or the “Company”) is pleased to announce that the Company has commenced a 2,800-metre drill program targeting the extension of gold mineralization at depth below the Main Zone of the Windfall Lake Gold Project. Windfall Lake is a high-grade gold deposit located between Val-d’Or and Chibougamau in Quebec, Canada.

Eagle Hill plans to deepen six existing drill holes into a target zone at approximately 800 metres vertical depth that is currently untested. Geological studies indicate that the gold mineralization hosted by Zone 27 and the Caribou Zone may have been displaced as much as 600 metres to the northeast below the Red Dog intrusion (Figure 1), which also coincides with a hole-to-hole IP anomaly identified below Red Dog (Figure 2). Recent re-interpretation suggests that the mineralization intersected in 2013 below Red Dog corresponds to the depth extension of the Caribou Lens (Figure 2). As a result, Zone 27, which hosts the majority of the gold mineralization identified to date at the deposit, is interpreted to lie further to the north and will be tested with this drill program.

Eagle Hill also plans to complete an additional hole-to-hole IP survey after completion of the current drill program to further define drill targets at depth. Should the initial 2,800-metre drill program yield positive results, Eagle Hill has already planned another phase of drilling to establish the extent of the gold mineralization at depth.

The Fall 2013 drilling program confirmed continuity of gold mineralization below the Red Dog intrusion and delineated an inferred mineral resource of 455,000 tonnes at a grade of 8.21 g/t gold for 120,000 contained ounces of gold. The current drill program is targeting additional gold mineralization that could increase the size of the Windfall Lake gold deposit.

On Behalf of the Board of Directors

John Proust

Chairman and Interim CEO

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