Eagle Hill's Deepest Drill Hole Extends the Known Vertical Depth of Windfall Lake's Gold Zones With Assay Results Including 8.9 G/T of Gold Over 14 Meters at a Depth of 770 Meters
VANCOUVER, BRITISH COLUMBIA--(Marketwire -03/01/12)- (TSX-V: EAG.V - News) Eagle Hill Exploration Corporation("Eagle Hill" or the "Company") is very pleased to announce the assay results from the Company's deepest drill hole on the Windfall Lake Property. Drill Hole EAG-12-320 was drilled to a total length of 1,131.5 meters and intersected Zone 27 at a vertical depth of 630 meters. Additional significant gold mineralization was discovered as far down as 770 meters below surface, nearly twice as deep as the vertical extent of known gold mineralization.
The most significant results obtained in drill hole EAG-12-320 intersected Zone 27 and include a significant mineralized interval of 5.5 g/t Au over 15.0 meters at a vertical depth of 630 meters. The style of mineralization is similar to that of Zone 27 located closer to surface. This drill hole also intersected additional gold mineralization deeper down the hole in a zone containing up to 15% pyrite stringers and local visible gold. This interval assayed 8.9 g/t Au over 14 meters and represents an additional potential new gold zone below the "Red Dog" quartz monzonite intrusion. These new intercepts are shown in the cross-section and the longitudinal section at www.eaglehillexploration.com/sections
This drill hole also intersected the Caribou Zone and a splay of the Caribou Zone with 5.7 g/t Au over 3.5 meters and 25.7 g/t Au over 4.0 meters respectively. In addition, a zone of quartz veining returning 9.6 g/t Au over 6.4 meters was intersected in the generally unmineralized Red Dog intrusion.
"Drill hole EAG-12-320 is a potential game changer for the Company. It radically increases the scope of what Windfall Lake may become. The results of this hole indicate that the prolific high grade gold zones may be at least twice as deep as the zones we have identified so far. The gold zones remain open in all directions. This drill hole proves the depth extension of Zone 27 below the intrusion. Moreover, the presence of another important gold interval further down the hole indicates that even more mineralization can be found below the Red Dog intrusion" stated Brad Kitchen, President and Chief Executive Officer of Eagle Hill Exploration. "This is clearly opening new territory where Eagle Hill can expand the size of the global mineral resource of the Windfall Lake gold deposit".
A map of the Windfall Lake Property outlining the location of the gold zones, drill holes and areas of potential expansion, together with cross-sections, a longitudinal section, and pictures of core showing the mineralization style have been posted on Eagle Hill's website atwww.eaglehillexploration.com/sections.
The following table shows the most material assay results from drill hole EAG-12-320.
----------------------------------------------------------------------------
TABLE OF BEST ASSAY RESULTS - WINDFALL LAKE (WINTER 2012)
----------------------------------------------------------------------------
Drill hole
Number From (m) To (m) Gold interval Comments
----------------------------------------------------------------------------
Intercept between
EAG-12-320 2.6 g/t Au over Caribou and Caribou
419.7 430.6 10.6 9 South zones
---------------------------------------------------------------
25.7 g/t Au over
488.0 492.0 4.0 m Caribou Zone
--------------------------------------
97.4 g/t Au over
incl 490.0 491.0 1.0 m
---------------------------------------------------------------
5.7 g/t Au over
504.0 507.5 3.5 m Caribou Zone
---------------------------------------------------------------
9.6 g/t Au over Zone of quartz veining
553.6 560.0 6.4 m in Red Dog intrusion
--------------------------------------
33.8 g/t Au over
incl. 553.6 554.6 1.0 m
---------------------------------------------------------------
34.0 g/t Au over
713.7 714.3 0.6 m Splay of Zone 27
---------------------------------------------------------------
5.5 g/t Au over Zone 27 below the Red
744.0 759.0 15.0 m Dog
--------------------------------------
37.6 g/t Au over
incl. 745.5 746.0 0.5 m
--------------------------------------
48.1 g/t Au over
incl. 756.6 757.3 0.7 m
---------------------------------------------------------------
7.1 g/t Au over
829.9 831.0 1.1 m New interval
---------------------------------------------------------------
8.9 g/t Au over
889.0 903.0 11.0 m New interval - New Zone?
--------------------------------------
81.3 g/t Au over
incl. 893.0 893.8 0.8 m
--------------------------------------
49.3 g/t Au over
incl. 899.9 900.5 0.6 m
---------------------------------------------------------------
16.3 g/t Au over
922.0 924.5 2.5 m New interval - New Zone?
--------------------------------------
52.0 g/t Au over
incl. 924.0 924.5 0.5 m
----------------------------------------------------------------------------
The true widths are approximately 60% of reported width.
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 ton. Assays returning results over 1 ounce per ton of gold by atomic absorption are 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 analytical standards.
Jean-Philippe Desrochers, Ph.D., P.Geo. is a Qualified Person registered in Quebec as defined by NI-43-101 and 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.
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 large resource potential. 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
This release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.
Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate" or "belief" or describes a "goal" or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements are based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievem ents to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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.
Contact:
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
