Gold Eagle Mines Ltd. - Significant grades and widths continue to be intersected
in response to
by
Sept. 25, 2008
Acquisition of Gold Eagle Mines by Goldcorp has been completed.
Message: hugh cross by bmo
Gold Eagle Mines Ltd. - Significant grades and widths continue to be intersected at the Bruce Channel Discovery
08:00 EDT Monday, April 14, 2008
08:00 EDT Monday, April 14, 2008
4.20 Metres at 29.85 g/t Gold (0.87 oz/t over 13.78 ft) and
127.28 g/t Gold over 1.20 Metres (3.71 oz/t over 3.94 ft)
TSX: GEA
TORONTO, April 14 /CNW/ - Gold Eagle Mines Ltd. (TSX: GEA) ("Gold Eagle" or the "Company") is pleased to announce the latest series of drill holes from its 100% owned Gold Eagle property located in Red Lake, Ontario. The Gold Eagle property is situated along the prolific Red Lake Trend, west of Goldcorp Inc's operating Red Lake and Campbell Mines and immediately southwest of Goldcorp Inc's past producing Cochenour-Willans Mine.
<<
Highlights:
- Drilling continues to intersect significant grades and widths
- Drilling continues to encounter multiple high grade zones with visible
gold
- BC 29 Series extends the Upper Main Zone approximately 50 metres
further south
- The mineralized envelope extends a minimum of 1,100 metres vertically
with horizontal dimensions up to 720 metres northeast-southwest by
450 metres northwest-southeast
- The mineralized envelope remains open in all directions
- The second deep drill rig, which is located on the mainland, has
initiated a step-out program from the BCD towards the Finn Zone
Highlights of latest drilling:
Hole Number Metres Grams/Tonne Feet Ounces/Ton
(g/t) (oz/t)
-------------------------------------------------------------------------
BC 29-3 4.20 29.85 13.78 0.87
-------------------------------------------------------------------------
including 2.40 50.47 7.87 1.47
-------------------------------------------------------------------------
BC 29-1 4.20 14.96 13.78 0.44
-------------------------------------------------------------------------
including 0.70 71.70 2.30 2.09
-------------------------------------------------------------------------
BC 29-2 3.50 12.96 11.48 0.38
-------------------------------------------------------------------------
including 0.70 37.10 2.30 1.08
-------------------------------------------------------------------------
BC 29-4 0.90 27.00 2.95 0.79
-------------------------------------------------------------------------
BC 29-4 0.70 21.80 2.30 0.64
-------------------------------------------------------------------------
BC 31-1 1.20 127.28 3.94 3.71
-------------------------------------------------------------------------
including 0.50 238.00 1.64 6.94
-------------------------------------------------------------------------
>>
The BCD is a significant gold structure intersected at approximately 800 metres beneath the shallow Bruce Channel waterway. The mineralized envelope is currently estimated to extend a minimum of 1,100 metres vertically and approximately 720 metres northeast-southwest and 450 metres northwest-southeast. The BCD mineralized envelope remains open in all directions.
In common with Goldcorp Inc's Red Lake Mine, Campbell Mine and Cochenour-Willans Mine, the BCD lies within the Balmer Assemblage. The structural and mineralogical characteristics are very similar to the aforementioned mines. Gold is found in its native form as well as within sulphide rich zones - particularly those with 'felted' fine grained arsenopyrite. A number of high grade structures have been identified within the BCD mineralized envelope and these structures exhibit horizontal and vertical continuity.
BC 29 Series
The BC 29 Series of holes are testing the open area south of the significant high grade intersections encountered in the BC 19 Series (BC 19-15 and BC 19-16; See press release datedFebruary 13 , 2008), which has been named the Upper Main Zone. The BC 29 Series is interpreted to have extended, by approximately 50 metres to the south, the high grade gold structures of the Upper Main Zone. The Upper Main Zone is one of a number of high grade gold structures that have so far been intersected within the BCD. In particular, the Upper Main Zone has demonstrated very strong continuity along strike and to depth. The BC 29 Series are collared at the same location as the BC 21, BC 25 and BC 27 Series.
See map, "Drill Plan (BC Series-14Apr08)", on the company website
http://www.goldeaglemines.com/_bin/i...
BC 29-1
-------
BC 29-1 mother hole was drilled to a final depth of 1,407.00 metres and intersected a number of mineralized zones between 1,137.20 and 1,303.30 metres, a core length of 166.10 metres. The hole encountered banded iron formation, cherty sediments and felsic pyroclastic rocks of theBruce Channel assemblage to a depth of 654.40 metres. The rest of the hole encountered variably altered mafic volcanic rocks with subordinate ultramafic rocks of the Balmer Assemblage.
Pervasive biotitic alteration was ubiquitous from approximately 1,130.00 metres to the bottom of the hole. Two significant carbonate zones were intersected below which gold mineralization was encountered. The first was intersected from 1,137.20 to 1,137.50 metres and was followed by a zone of brecciation with associated disseminated pyrrhotite and very fine grained felted arsenopyrite. A second carbonate zone intersected from 1,187.70 to 1,197.20 metres was also followed by a brecciated zone which hosted disseminated pyrrhotite, local fined grained massive and acicular arsenopyrite, and visible gold.
<<
BC 29-1
-------------------------------------------------------------------------
Intersection Gold
(in Metres) Length -------------------------
----------------------------------------------- Grams Ounces
per per
From To Metres Feet Tonne Ton
(g/t) (oz/t)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
1,137.20 1,146.80 9.60 31.50 4.88 0.14
-------------------------------------------------------------------------
including 0.60 1.97 23.10 0.67
-------------------------------------------------------------------------
including 0.60 1.97 14.35 0.42
-------------------------------------------------------------------------
1,156.70 1,157.30 0.60 1.97 21.70 0.63
-------------------------------------------------------------------------
1,185.40 1,186.20 0.80 2.62 4.03 0.12
-------------------------------------------------------------------------
1,193.50 1,197.40 3.90 12.80 5.76 0.16 VG
-------------------------------------------------------------------------
including 0.46 1.51 23.90 0.70 VG
-------------------------------------------------------------------------
1,203.00 1,205.80 2.80 9.19 3.95 0.12
-------------------------------------------------------------------------
1,208.60 1,212.80 4.20 13.78 14.96 0.44 VG
-------------------------------------------------------------------------
including 0.70 2.30 71.70 2.09 VG
-------------------------------------------------------------------------
1,246.70 1,248.50 1.80 5.91 3.30 0.10
-------------------------------------------------------------------------
1,257.90 1,259.50 1.60 5.25 3.46 0.10
-------------------------------------------------------------------------
1,302.90 1,303.30 0.40 1.31 9.45 0.28
-------------------------------------------------------------------------
>>
BC 29-2
-------
BC 29-2 was wedged off the mother hole at a depth of 895.30 metres and directed northwards. It was drilled to a final depth of 1,365.16 metres, and intersected a number of mineralized zones between 1,131.30 and 1,314.60 metres, a core length of 183.30 metres. The hole encountered variably altered mafic volcanic rocks with subordinate ultramafic rocks of the Balmer Assemblage.
Pervasive biotitic alteration commenced at 1,125.30 metres and continued through to the end of the hole. Three carbonate zones with local breccia texture were intersected at 1,146.00 to 1,156.00 metres, at 1,166.10 to 1,171.60 metres, and at 1,194.00 to 1,201.45 metres. Mineralization comprising disseminated pyrrhotite and associated very fine grained, locally felted arsenopyrite was identified within, and below, the carbonate zones. Visible gold was associated with quartz veins and silicification within the alteration.
<<
BC 29-2
-------------------------------------------------------------------------
Intersection Gold
(in Metres) Length -------------------------
----------------------------------------------- Grams Ounces
per per
From To Metres Feet Tonne Ton
(g/t) (oz/t)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
1,131.30 1,133.40 2.10 6.89 4.30 0.13
-------------------------------------------------------------------------
1,147.00 1,148.10 0.70 2.30 3.13 0.09
-------------------------------------------------------------------------
1,154.40 1,155.10 0.70 2.30 15.30 0.45
-------------------------------------------------------------------------
1,157.90 1,161.40 3.50 11.48 12.96 0.38
-------------------------------------------------------------------------
including 0.70 2.30 37.10 1.08
-------------------------------------------------------------------------
1,171.90 1,172.60 0.70 2.30 7.12 0.21
-------------------------------------------------------------------------
1,177.50 1,178.90 1.40 4.59 10.32 0.30
-------------------------------------------------------------------------
1,190.10 1,190.90 0.80 2.62 3.26 0.10 VG
-------------------------------------------------------------------------
1,208.10 1,209.00 0.90 2.95 13.02 0.38 VG
-------------------------------------------------------------------------
1,220.60 1,221.30 0.70 2.30 9.52 0.28
-------------------------------------------------------------------------
1,313.80 1,314.60 0.80 2.62 5.59 0.16
-------------------------------------------------------------------------
>>
BC 29-3
-------
BC 29-3 was wedged off the mother hole at a depth of 916.60 metres and directed upwards targeting the zones encountered in BC 29-2 at a higher elevation. The hole intersected volcanic rocks of the Balmer Assemblage to its final depth of 1,431.50 metres, and intersected a number of mineralized zones between 1,119.20 and 1,256.00 metres, a core length of 136.80 metres.
The drill hole encountered biotite altered mafic volcanics to a depth of 999.20 metres. A carbonate zone was noted at 999.20 to 1,013.25 metres below which carbonatized and locally sheared ultramafic rocks were intersected to a depth of 1,120.00 metres. An alteration zone comprised of biotite with silicification and carbonatization within locally sheared and brecciated intervals was hosted in mafic volcanic rocks to a depth of 1,192.45 metres. Disseminated pyrrhotite and arsenopyrite with associated gold mineralization were noted within this interval. A second carbonate zone was identified from 1,192.45 to 1,196.00 metres below which biotite altered mafic volcanics with local zones of strong silica and carbonate alteration hosted disseminated pyrrhotite, arsenopyrite, and gold mineralization.
<<
BC 29-3
-------------------------------------------------------------------------
Intersection Gold
(in Metres) Length -------------------------
----------------------------------------------- Grams Ounces
per per
From To Metres Feet Tonne Ton
(g/t) (oz/t)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
1,119.20 1,120.00 0.80 2.62 3.50 0.10
-------------------------------------------------------------------------
1,122.40 1,123.20 0.80 2.62 3.47 0.10
-------------------------------------------------------------------------
1,124.80 1,126.40 1.60 5.25 4.08 0.12
-------------------------------------------------------------------------
1,151.10 1,151.70 0.60 1.97 23.20 0.68
-------------------------------------------------------------------------
1,152.90 1,157.10 4.20 13.78 29.85 0.87 VG
-------------------------------------------------------------------------
including 2.40 7.87 50.47 1.47 VG
-------------------------------------------------------------------------
1,161.10 1,161.90 0.80 2.62 3.27 0.10
-------------------------------------------------------------------------
1,200.90 1,201.70 0.80 2.62 8.59 0.25
-------------------------------------------------------------------------
1,203.30 1,208.10 4.80 15.75 7.87 0.23 VG
-------------------------------------------------------------------------
including 0.80 2.62 40.50 1.18 VG
-------------------------------------------------------------------------
1,234.60 1,235.40 0.80 2.62 4.09 0.12
-------------------------------------------------------------------------
1,254.00 1,256.00 2.00 6.56 4.74 0.14
-------------------------------------------------------------------------
>>
BC 29-4
-------
BC 29-4 was wedged off the mother hole at a depth of 712.50 metres and directed to target the zone southwest of the mineralized intervals in BC 29-3. It was drilled to a final depth of 1,431.50 metres in rocks assigned to the Balmer Assemblage, and intersected a number of mineralized zones between 1,153.00 and 1,387.10 metres, a core length of 234.10 metres.
The hole intersected carbonatized and locally chloritized mafic volcanic rocks with subordinate felsic volcanic rocks to a depth of 1,124.50 metres. Below, and to a depth of 1,156.85 metres, the hole comprised ultramafic rocks with local zones of brecciated carbonate and quartz veins and disseminated pyrrhotite and pyrite mineralization. The remainder of the hole consisted of mafic volcanic rocks with pervasive biotite alteration and local zones of silicification. Several of the silicified zones host disseminated pyrrhotite, locally with felted arsenopyrite and associated gold mineralization.
<<
BC 29-4
-------------------------------------------------------------------------
Intersection Gold
(in Metres) Length -------------------------
----------------------------------------------- Grams Ounces
per per
From To Metres Feet Tonne Ton
(g/t) (oz/t)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
1,153.00 1,157.80 4.80 15.75 5.82 0.17
-------------------------------------------------------------------------
1,162.70 1,166.20 3.50 11.48 3.20 0.09
-------------------------------------------------------------------------
1,190.90 1,191.60 0.70 2.30 5.39 0.16
-------------------------------------------------------------------------
1,201.40 1,207.70 6.30 20.67 5.97 0.17
-------------------------------------------------------------------------
1,205.60 1,206.30 0.70 2.30 21.80 0.64
-------------------------------------------------------------------------
1,209.80 1,211.90 2.10 6.89 3.47 0.10
-------------------------------------------------------------------------
1,220.30 1,222.40 2.10 6.89 4.76 0.14
-------------------------------------------------------------------------
1,226.60 1,228.20 1.60 5.25 3.47 0.10
-------------------------------------------------------------------------
1,233.30 1,236.00 2.70 8.86 3.14 0.09
-------------------------------------------------------------------------
1,243.20 1,248.00 4.80 15.75 8.89 0.26
-------------------------------------------------------------------------
including 0.90 2.95 20.40 0.59
-------------------------------------------------------------------------
including 0.70 2.30 29.10 0.85
-------------------------------------------------------------------------
1,316.00 1,317.00 1.00 3.28 4.02 0.12
-------------------------------------------------------------------------
1,386.20 1,387.10 0.90 2.95 27.00 0.79
-------------------------------------------------------------------------
>>
The BC 29 series of drill holes are ongoing and additional results will be reported as they become available.
BC 31 Series
The BC 31 Series of holes are also planned to test the open area south of the significant high grade intersections in the BC 19 Series of holes (BC 19-15 & BC 19-16; see press release datedFebruary 13 , 2008), but at greater depth than the BC 29 Series. The BC 31 Series are collared at the same location as the BC 10, BC 11 and BC 19 series of holes.
See map, "Drill Plan (BC Series-14Apr08)", on the company website
http://www.goldeaglemines.com/_bin/i...
BC 31-1
-------
BC 31-1 mother hole was drilled to a depth of 1,644.00 metres. The hole was directed to further test the open area south of the high grade intersections in the BC 19 Series of holes and at greater depth than the area tested by the BC 29 Series of drill holes. Although the drill hole did not reach its planned target depth due to drill rods jamming, significant mineralization was intersected near the bottom part of this hole.
The drill hole intersected iron formation, meta-sediments and felsic volcanics of the Bruce Channel Assemblage to a depth of 372.00 metres. Below this to the end of the drill hole, meta-volcanic rocks comprised predominantly of mafic flows with subordinate ultramafic and felsic volcanics were assigned to Balmer Assemblage. At approximately 1,479.00 metres the onset of pervasive biotite alteration with local zones of carbonate alteration and associated silicification and quartz veining occur. Mineralization associated with these zones comprised disseminated pyrrhotite locally with felted arsenopyrite and gold.
<<
BC 31-1
-------------------------------------------------------------------------
Intersection Gold
(in Metres) Length -------------------------
----------------------------------------------- Grams Ounces
per per
From To Metres Feet Tonne Ton
(g/t) (oz/t)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
1,619.90 1,621.10 1.20 3.94 127.28 3.71
-------------------------------------------------------------------------
including 0.50 1.64 238.00 6.94
-------------------------------------------------------------------------
1,623.70 1,624.40 0.70 2.30 8.26 0.24
-------------------------------------------------------------------------
>>
The BC 31 Series of drill holes are ongoing and results will be reported as they become available.
BCD Step-Out Drilling Program
Both of the 2,500 metre capacity rigs have commenced a systematic step-out drill program which is aimed at testing for the continuation of the BCD mineralized envelope in a southwest direction towards the Finn Zone, located approximately 500 horizontal metres away. The drill located on McKenzie Island is in progress with the BC 30 Series and the drill located on the mainland is in progress with the BC 32 Series. It is expected that this important drilling program will take up to 24 months to complete.
Goldray Channel
A series of 4 drill holes totaling 4,469.10 metres were completed in the Goldray Channel area during the fall of 2007 and winter of 2008. The Goldray Channel area is located in the far northwest corner of the Gold Eagle Property. The holes were targeted to test the possible extensions of structures hosting gold mineralization at Goldcorp's past producing McKenzie Red Lake Mine located on McKenzie Island, where they potentially transect more favorably prepared volcanic stratigraphy west of the McKenzie Island Stock.
See map, "Drill Plan (GR Series-14Apr08)", on the company website
http://www.goldeaglemines.com/_bin/i...
GR 07-1
-------
GR 07-1 was collared on Goldray Island, oriented at -60 degrees towards the south-southeast, and drilled to a final depth of 1,176.00 metres. The hole intersected a granodiorite to 80.00 metres and encountered calc-silicate altered meta-sediments cut by intermediate porphyry dikes to approximately 400.00 metres. Below this to 800.00 metres volcanic rocks assigned to the Confederation Assemblage comprised felsic to intermediate tuffs, lapilli tuffs, and agglomerate with subordinate mafic flows. Below 800.00 metres several serpentinized ultramafic units marked the transition into a thick sequence of mafic volcanic which continued to the end of the hole. This latter sequence may comprise the Balmer Assemblage in this area. No encouraging assays were returned from this drill hole.
GR 07-2
-------
GR 07-2 was also collared on Goldray Island at the same location as GR 07-1, but oriented -63 degrees towards the south east, and drilled to a final depth of 1,350.00 metres. This hole intersected granodiorite to a depth of 163.00 metres. Below this to a depth of 822.50 metres volcanic rocks assigned to the Confederation Assemblage comprised intermediate to felsic pyroclastic rocks and cut by intermediate porphyry dykes. An ultramafic unit altered to talc and serpentine was intersected from 822.50 to 840.60 metres and marked the transition into a sequence of mafic volcanic rocks to a depth of 1,242.84 metres.
These rocks are interpreted to be part of the Balmer Assemblage. The mafic rocks were variably altered to carbonate, chlorite, and silica with greatest intensity associated with zones of shearing and brecciation between 1,019.28 and 1,069.77 metres. Disseminated pyrrhotite with trace arsenopyrite and chalcopyrite was locally noted through this interval. The hole intersected granodiorite of the McKenzie Island Stock from 1,242.84 meters to its final depth of 1,350.00 metres. From 1,291.25 to 1,299.80 meters a sericitized interval with associated pyrite mineralization as disseminations and veinlets was associated with quartz veining and gold mineralization.
<<
GR 07-2
-------------------------------------------------------------------------
Intersection Gold
(in Metres) Length ------------------
------------------------------------------- Grams Ounces
per per Comments
From To Metres Feet Tonne Ton
(g/t) (oz/t)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Potential
Balmer
1,069.50 1,069.45 0.45 1.48 3.87 0.12 Assemblage
-------------------------------------------------------------------------
McKenzie
Island
1,291.80 1,292.80 1.00 3.28 3.05 0.09 Stock
-------------------------------------------------------------------------
McKenzie
Island
1,297.40 1,298.20 0.80 2.62 18.55 0.60 Stock
-------------------------------------------------------------------------
McKenzie
Island
1,300.60 1,301.40 0.80 2.62 3.88 0.12 Stock
-------------------------------------------------------------------------
>>
GS 28
-----
GS 28 was drilled on McKenzie Island, with the objective to further evaluate the mineralized structures encountered in GR 07-2. The hole was drilled to a final depth of 1,132.90 metres. A sequence of intermediate to felsic pyroclastic rocks and tuffaceous sediments to 628.80 metres is considered to be Confederation Assemblage. Below this to 736.50 metres the hole cut several serpentinized ultramafic units with intervening meta-volcanics rocks comprising mafic and felsic pyroclastic rocks and mafic dikes. From 698.50 meters to 733.02 meters strong shearing was associated with variable biotite, sericite and local carbonate alteration. Weakly disseminated pyrite was ubiquitous throughout this interval but no encouraging assays were returned. The drill hole intersected augite diorite and granodiorite phases of the McKenzie Island Stock from 736.50 meters to its final depth of 1,132.90 metres. A zone of quartz sericite alteration with associated quartz stringers and disseminated pyrite and pyrrhotite was noted at 936.00 meters to 953.00 metres. The most significant assay returned was 1.14 g/t gold from 936.00 meters to 937.00 metres.
GS 28-1
-------
GS 28-1 was wedged off GS 28 at a depth of 794.00 metres in part to test up dip of the quartz sericite zone noted at 936.00 to 953.00 metres in GS 28 and was drilled to a final depth of 1,604.00 metres to test for potential stacked mineralized structures within the McKenzie Island Stock. The hole remained in augite diorite, diorite and granodiorite phases of the McKenzie Island Stock through to the final depth. A number of quartz veins and quartz sericite altered intervals were encountered. A section cut from 934.00 to 943.00 metres is interpreted to be equivalent to the quartz sericite zone noted in GS 28 however no encouraging assays were returned. The most significant assay returned was 3.05 g/t gold from a narrow quartz vein at 1,236.00 meters to 1,236.80 metres.
The drill working on the Goldray Channel area has been redeployed to the Bruce Channel Discovery and further work on Goldray Channel is not contemplated at this time.
<<
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 0.0292 equals
troy ounces per short ton (oz/t)
>>
About Gold Eagle
Gold Eagle Mines Ltd is a Canadian based junior natural resource company developing a significant new gold discovery in the prolific Red Lake gold camp, located in Northern Ontario,Canada.
Qualified Persons
The drill program is being carried out under the direction of Mr. Chris Collins, P.Geo and Mr. John F. Whitton, P.Geo, qualified persons within the meaning of National Instrument 43-101. Mr. Collins and Mr. Whitton have reviewed the contents of this news release.
Sample preparation and assay procedures are carried out by ALS Laboratories using standard fire assaying with an AA or gravimetric finish where appropriate. Samples noted to contain Visible Gold when core logging are assayed using a screened metallics procedure with a gravimetric finish.
Forward-Looking Statement
The statements made in this News Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussion of such risks and other factors, refer to Gold Eagle's filings with Canadian securities regulators available onwww.sedar.com or the Company's website at www.goldeaglemines.com
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release and the
information contained herein.
%SEDAR: 00024756E
For further information: please feel free to contact our offices at: Tel: (416) 867-8998; Fax: (416) 867-9393; www.goldeaglemines.com
Loading...
Loading...
New Message
Please
login
to post a reply