Targeting multi-million high-grade oz. in Quebec
Windfall Lake Property, located near Val d'Or, Quebec: Indicated 538,000 oz. (10.05 gpt) / Inferred 822,000 oz. (8.76 gpt) (July 2012)
Message: Eagle Hill Intersects 5.7 g/t of Gold Over 55.0 Meters at Windfall Lake Property
VANCOUVER, BRITISH COLUMBIA, Apr 26, 2012 (MARKETWIRE via COMTEX) -- Eagle Hill Exploration Corporation ("Eagle Hill" or the "Company") /quotes/zigman/463831 CA:EAG -4.00% is releasing additional assay results from its now completed 25,000 meter drill program on the Windfall Lake Gold Deposit Quebec. The new results confirm the good grade of the near surface gold mineralization and expand the size of Zone 27 to the east in areas that were not included in the mineral resource estimate published in November 2011.
News Release highlights
-- Upper extension of Zone 27 assay results include 5.7 g/t of Gold over
55.0 meters and 32.2 g/t of Gold over 2.8 meters;
-- The current drill program has increased the known area of Zone 27 by
100%. Strike length is now over 700 meters and is known to a vertical
depth of 620 meters. The recent drill results show horizontal widths of
up to 36 meters;
-- Strike extension of the F-51 gold zone expanded by 35%. The F-51 Zone is
a historic gold zone that was not explored by Eagle Hill until the
recent drill program and was not included in the recent mineral resource
estimate.
Zone 27 - Near Surface Gold Mineralization
The near surface gold mineralization discovered during the winter drilling program continues to deliver very significant gold results in the first 220 meters from surface. Drill hole EAG-12-351 returned a 55.0 meter interval assaying 5.73 g/t of Gold. This represents the widest, near surface, interval intersected to date on the property. This interval occurs only 62 meters below the surface and the zone has a true horizontal width of 36 meters. Other near surface, gold mineralized zones, parallel to Zone 27 were also intersected in drill hole EAG-12-351 with 9.57 g/t of Gold over 1.35 meters and 1.2 g/t of gold over 9.0 meters. In addition, drill hole EAG-12-348, drilled some 625 meters to the east of EAG-12-351 returned an interval of 32.2 g/t Au over 2.8 meters. This upper extension of Zone 27 is now interpreted to extend over a strike-length of at least 700 meters, as shown on the updated Zone 27 long section that can be found on the Company's website at www.eaglehillexploration.com/sections .
The near surface gold mineralization of Zone 27 strikes to the east-northeast with a steep dip, cross-cuts all rock units, and reaches up to 36 meters in horizontal thickness. Gold mineralization is most commonly associated with pyrite stockwork and pyrite dissemination, and occurs in zones associated with sericite and silica alteration. Further drilling of this zone is planned for the Summer 2012 Program to better determine its extent and continuity between sections 2300 mE and 2550 mE.
Zone 27 - East Extension
The drilling completed during this last program also demonstrates that the gold mineralization of Zone 27 extends further to the east in an area not previously included in the mineral resource estimate released in November 2011. The new drilling has increased the strike extension of Zone 27 to the east by approximately 30% relative to the zone included in the 43-101 compliant mineral resource estimate. When combined with the newly identified near surface gold mineralization in Zone 27, the drilling from this recently completed 25,000 drill program has increased the known area of the zone by more than 100%.
Significant gold mineralization was intersected on sections 2700 mE and 2800 mE, at the east extension of Zone 27. Drill hole EAG-12-349 intersected 9.3 g/t of Gold over 2.0 meters and the extension of NOT-07-163 returned 9.3 g/t of Gold over 3.0 meters in a lower grade interval of 14.2 meters grading 3.3 g/t of Gold on section 2700. Drill hole EAG-12-347 intersected 11.1 g/t of Gold over 1.0 meter on section 2800 mE, also at only 90 meters below surface.
Drill hole NOT-07-163 was extended from 422.25 meters to a total depth of 627.0 meters. The objective was to intersect the gold mineralization of Zone 27 on Section 2700, which was interpreted to lie just to the north of the end of the drill-hole. Zone 27 was intersected at 428.4 meters down the hole, or only 6 meters further than the previous bottom of the hole, which demonstrates the predictability Eagle Hill's geological model for the Windfall Lake.
Zone F-51
A total of seven drill-holes tested the extensions of gold zone F-51, located approximately one kilometer to the northeast of the main gold zones of the deposit. The F-51 gold zone was not included in the mineral resource estimate of the Windfall Lake deposit. Three of the drill holes extended the gold zone to the east by another 75 meters with 9.6 g/t of Gold over 1.6 meters, 5.4 g/t of Gold over 1.7 meters, and 5.4 g/t of Gold over 1.8 meters. Previous operators had drilled the F-51 zone over a strike-length of 200 meters with results such as 8.03 g/t of Gold over 3 meters and 8.61 g/t of Gold over 2 meters within the first 75 meters below surface. The new drilling confirms a total strike length of at least 275 meters and indicates that the zone remains open along its east-northeast extension.
The following table shows the best assay results presented in this press release.
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GOLD
DDH From (m) TO (m) INTERVAL COMMENTS
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EAG-12-347 11.1 g/t
125.5 126.5 over 1.0 m Zone 27
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EAG-12-348 32.2 g/t Zone 27 - upper
266.2 269.0 over 2.8 m extension
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5.7 g/t over
526.0 528.0 2.0 m isolated zone
--------------------------------------------------------------
assays
558.0 610.0 pending includes Caribou zone
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EAG-12-349 5.55 g/t
82.0 83.0 over 1.0 m isolated zone
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9.3 g/t over
271.0 273.0 2.0 m Zone 27
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EAG-12-351 9.57 g/t
29.0 30.4 over 1.4 m Parallel to Zone 27
--------------------------------------------------------------
Zone 27 - upper
5.73 g/t extension with up to 30
46.0 101.0 over 55.0 m percent pyrite
--------------------------------------
8.2 g/t over
incl. 46.0 51.0 5.0 m
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16 g/t over
incl. 66.7 81.0 14.3 m
--------------------------------------
41.9 g/t
incl. 69.1 74.0 over 4.9 m
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106 g/t over
incl. 69.1 70.3 1.15 m
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EAG-12-351 1.2 g/t over
116.0 125.0 9.0 m Parallel to Zone 27
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EAG-12-352 1.0 g/t over
111.6 121.0 9.4 m Zone 27
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EAG-12-353 5.9 g/t over
77.0 80.0 3.0 m isolated zone
--------------------------------------------------------------
196 g/t over
490.0 491.6 1.6 m Parallel to Zone 27
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EAG-12-354 5.4 g/t over
135.3 137.0 1.7 m F-51 zone
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EAG-12-356 11.1 g/t
76.0 86.0 over 10.0 m Caribou Zone
--------------------------------------------------------------
64.8 g/t
incl. 83.0 84.0 over 1.0 m Caribou Zone
--------------------------------------------------------------
assays
346.0 380.0 pending Includes Zone 27
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EAG-12-359 9.6 g/t over
130.8 132.4 1.6 m isolated zone
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EAG-12-360 5.4 g/t over
93.2 95.0 1.8 m isolated zone
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EAG-12-361 4.65 g/t
335.9 336.8 over 0.9 m isolated zone
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NOT-07- 3.3 g/t over
163ext 428.4 442.6 14.2 m Zone 27
--------------------------------------------------------------
9.6 g/t over
incl. 436.0 439.0 3.0 m Zone 27
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The above gold intervals are weighted average of the assays included in the zone. All values are uncut and individual assays will be posted on the website.
Eagle Hill is still awaiting the final assay results for portions of drill holes EAG-12-348, EAG-12-349, EAG-12-353, EAG-12-356, and all the assay results for drill holes EAG-12-365 to EAG-12-368. All results will be released as soon as they become available. Eagle Hill has now completed its 25,000 meter drill program. Another phase of drilling is also planned for the summer 2012 and will start at the end of May.
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. Assays returning results over 1 ounce per ton of gold by atomic absorption will be re-assayed using the metallic sieve method. All assays were performed by ALS Chemex Laboratory Group, in Val d'Or, Quebec. Sampling and analytical procedures are subject to a comprehensive quality assurance and quality control program. The QA-QC program, includes duplicate samples, blanks and certified reference standards.
Eagle Hill's Chief Geologist is Jean-Philippe Desrochers, Ph.D., P.Geo., a Qualified Person registered as defined by National Instrument 43-101 who 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 November 2011, the Company received its initial mineral resource estimate, the results of which are displayed in the table below;
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Indicated Inferred
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Cut-Off
Grade Quantity Grade Contained Quantity Grade Contained
Gold ('000 Gold Gold ('000 ('000 Gold Gold ('000
(g/t) tonnes) (g/t) ounces) tonnes) (g/t) ounces)
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3.0 1,144 9.10 334,719 1,690 6.70 364,093
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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 have a large resource. 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 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
SOURCE: Eagle Hill Exploration Corporation
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