Attention Business Editors:
Step out drilling continues to expand the Bruce Channel Discovery
Latest drill results include 13.38 metres (43.64 ft) at 38.26 g/t
(1.12 oz/t) and 66.40 metres (217.86 ft) at 10.96 g/t (0.32 oz/t)
TSX: GEA
TORONTO, Feb. 13 /CNW/ - Gold Eagle Mines Ltd. (TSX: GEA) ("Gold Eagle"
or the "Company") is pleased to announce the latest series of drill results on
the Bruce Channel Discovery ("BCD") at its 100% owned Gold Eagle property in
Red Lake Ontario. The Gold Eagle property is situated along the Red Lake
Trend, west of Goldcorp Inc's operating Red Lake and Campbell Mines and
immediately southwest of Goldcorp Inc's past prodcuing Cochenour-Willans Mine.
Highlights:
- Drilling expands the BCD mineralized envelope by approximately
25 metres to the southwest.
- The mineralized envelope extends a minimum of 1,100 metres vertically
with horizontal dimensions of 720 metres northeast-southwest by
450 metres northwest-southeast.
- Drilling continues to intersect significant multiple high grade zones
with visible gold
- Step-out drilling program commences from the BCD mineralized envelope
towards the Finn Zone
Highlights of latest drilling:
Hole Number Metres Grams/ Tonne Feet Ounces/ Ton
(g/t) (oz/t)
-------------------------------------------------------------------------
BC 19-15 13.30 38.26 43.64 1.12
-------------------------------------------------------------------------
including 3.80 123.35 12.47 3.60
-------------------------------------------------------------------------
BC 19-16 66.40 10.96 217.86 0.32
-------------------------------------------------------------------------
including 15.60 25.50 51.18 0.74
-------------------------------------------------------------------------
BC 19-16 39.80 8.34 130.58 0.24
-------------------------------------------------------------------------
including 3.20 33.79 10.50 0.99
-------------------------------------------------------------------------
BC 27-5 1.10 33.62 3.61 0.98
-------------------------------------------------------------------------
including 0.35 92.40 1.15 2.69
-------------------------------------------------------------------------
BC 27-6 3.50 27.91 11.48 0.81
-------------------------------------------------------------------------
including 0.70 129.50 2.30 3.78
-------------------------------------------------------------------------
BC 28-1 15.20 7.07 49.87 0.21
-------------------------------------------------------------------------
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.
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
are showing horizontal and vertical continuity.
BC 19 Series
The BC 19 Series of holes are designed to test the area between the BC 10
Series of holes to the northeast and the BC 21 Series of holes drilled from a
collar located 200 metres to the southwest.
See map, "Drill Plan (BC Series-13Feb08)", on the company website
http://www.goldeaglemines.com/_bin/images/maps.cfm
BC 19-15
--------
BC 19-15 was wedged off BC 19-14 at a depth of 1,045 metres and directed
southwest of the mineralized structures intersected in BC 19-14. The hole was
drilled to a final depth of 1,512 metres and intersected a number of
mineralized zones within the Balmer Assemblage between 1,276.20 and 1,317.10,
a core length of 40.90 metres. These mineralized zones are hosted within a
zone of shearing and brecciation, with associated alteration and gold
mineralization. The alteration comprised biotite with associated quartz and
carbonate veining with mineralization consisting of pyrrhotite, fine grained
acicular arsenopyrite and visible gold.
BC 19-15
-------------------------------------------------------------------------
Intersection Gold
(in Metres) Length ---------------------------
------------------------------------- Grams per Ounces per
From To Metres Feet Tonne (g/t) Ton (oz/t)
-------------------------------------------------------------------------
1,276.20 1,289.50 13.30 43.64 38.26 1.12 VG
-------------------------------------------------------------------------
including 3.80 12.47 123.35 3.60 VG
-------------------------------------------------------------------------
1,290.7 1,314.10 23.40 76.77 3.21 0.09
-------------------------------------------------------------------------
1,316.50 1,317.10 0.60 1.97 3.24 0.09
-------------------------------------------------------------------------
BC 19-16
--------
BC 19-16 was wedged off BC 19-15 at a depth of 874.50 metres and directed
south of the mineralized structures intersected in BC 19-15. The hole was
drilled to a final depth of 1,469 metres and intersected several mineralized
structures with visible gold within the Balmer Assemblage between 1,110.50 and
1,301.10 metres, a core length of 190.60 metres. The hole intersected zones of
carbonate and silica alteration with brecciation. Mineralization consists of
ubiquitous pyrrhotite, with local zones of fine grained acicular arsenopyrite
and visible gold.
BC 19-16
-------------------------------------------------------------------------
Intersection Gold
(in Metres) Length ---------------------------
------------------------------------- Grams per Ounces per
From To Metres Feet Tonne (g/t) Ton (oz/t)
-------------------------------------------------------------------------
1,110.50 1,150.30 39.80 130.58 8.34 0.24 VG
-------------------------------------------------------------------------
including 0.70 2.30 46.00 1.34
-------------------------------------------------------------------------
including 3.20 10.50 33.79 0.99 VG
-------------------------------------------------------------------------
including 2.40 7.87 18.66 0.54 VG
-------------------------------------------------------------------------
including 2.80 9.19 12.59 0.37
-------------------------------------------------------------------------
1,190.20 1,190.90 0.70 2.30 3.56 0.10
-------------------------------------------------------------------------
1,193.0 1,207.20 14.20 46.59 3.99 0.12 VG
-------------------------------------------------------------------------
including 2.00 6.56 15.75 0.46 VG
-------------------------------------------------------------------------
1,212.35 1,221.40 9.05 29.60 3.00 0.09 VG
-------------------------------------------------------------------------
including 0.70 2.30 13.40 0.39
-------------------------------------------------------------------------
1,222.80 1,227.70 4.90 16.08 4.08 0.12
-------------------------------------------------------------------------
1,234.70 1,301.10 66.40 217.86 10.96 0.32 VG
-------------------------------------------------------------------------
including 2.10 6.89 22.40 0.65 VG
-------------------------------------------------------------------------
including 2.65 8.69 33.90 0.99
-------------------------------------------------------------------------
including 15.60 51.18 25.50 0.74 VG
-------------------------------------------------------------------------
including 1.20 3.94 13.87 0.40 VG
-------------------------------------------------------------------------
including 2.80 9.19 11.54 0.34
-------------------------------------------------------------------------
BC 19-17
--------
BC 19-17 was wedged off BC 19-16 at a depth of 868.50 metres and directed
up to flatten the hole and further test the mineralized structures intersected
in BC 19-15 and BC 19-16. The hole was drilled to a final depth of
1,575.5�metres within the Balmer Assemblage. Several mineralized structures
were intersected between 1,285.90 and 1,497.60 metres, a core length of 211.70
metres. The structures were typified by quartz carbonate breccia with very
finely disseminated sulphides comprised of pyrrhotite and fine grained
arsenopyrite.
BC 19-17
-------------------------------------------------------------------------
Intersection Gold
(in Metres) Length ---------------------------
------------------------------------- Grams per Ounces per
From To Metres Feet Tonne (g/t) Ton (oz/t)
-------------------------------------------------------------------------
1,285.90 1,298.50 12.60 41.34 4.61 0.13
-------------------------------------------------------------------------
including 3.50 11.48 8.23 0.24
-------------------------------------------------------------------------
1,306.9 1,308.3 1.40 4.59 3.77 0.11
-------------------------------------------------------------------------
1,334.0 1,336.80 2.80 9.19 3.21 0.09
-------------------------------------------------------------------------
1,488.80 1,489.60 0.80 2.62 3.64 0.11
-------------------------------------------------------------------------
1,496.80 1,497.60 0.80 2.62 3.86 0.11
-------------------------------------------------------------------------
The BC 19 "mother hole" is no longer usable thus marking the end of the
BC 19 Series. A new mother hole, BC 31 has been collared at the same location
as the BC 19 Series and is oriented to test the open area southwest of the
most recent BC 19 Series holes (BC 19-14 to BC 19-17). Results will be
released when they become available.
BC 27 Series
The BC 27 Series of drill holes are collared on the mainland at the same
location as the BC 21 Series and BC 25 Series of drill holes. The BC 27 Series
are step-out holes designed to test the area immediately southwest of the BCD
mineralized envelope.
See map, "Drill Plan (BC Series-13Feb08) on the company website
http://www.goldeaglemines.com/_bin/images/maps.cfm
BC 27-5
-------
BC 27-5 was wedged off BC 27-4 at a depth of 768.50 metres and directed
steeper to test at greater depth the zones intersected in BC 27-4. Due to
ground conditions, the hole was stopped at 1,588 metres. A number of
mineralized structures with visible gold were intersected within the Balmer
Assemblage between 1,477.40 and 1,572.90 metres, a core length of
95.50�metres. These mineralized structures are characterized by either quartz
stockwork with pyrrhotite, fine grained arsenopyrite and visible gold, or
carbonate veining with disseminated pyrrhotite.
BC 27-5
-------------------------------------------------------------------------
Intersection Gold
(in Metres) Length ---------------------------
------------------------------------- Grams per Ounces per
From To Metres Feet Tonne (g/t) Ton (oz/t)
-------------------------------------------------------------------------
1,477.40 1,478.00 0.60 1.97 3.69 0.11
-------------------------------------------------------------------------
1,479.80 1,480.90 1.10 3.61 33.62 0.98 VG
-------------------------------------------------------------------------
including 0.35 1.15 92.40 2.69 VG
-------------------------------------------------------------------------
1,572.10 1,572.90 0.80 2.62 14.45 0.42
-------------------------------------------------------------------------
BC 27-6
-------
BC 27-6 was wedged off the abandoned BC 27-5 at a depth of 1,339.70
metres in order to continue with the original plan of BC 27-5. The hole was
terminated short of its planned depth at 1,755 metres due to ground
conditions. Several mineralized structures with visible gold were intersected
between 1,654.45 and 1,750 metres, a core length of 95.55 metres. The
mineralized zones are hosted within the Balmer Assemblage, and characterized
by silica carbonate, biotitic alteration and brecciation.
BC 27-6
-------------------------------------------------------------------------
Intersection Gold
(in Metres) Length ---------------------------
------------------------------------- Grams per Ounces per
From To Metres Feet Tonne (g/t) Ton (oz/t)
-------------------------------------------------------------------------
1,654.45 1,655.10 0.65 2.13 42.52 1.24 VG
-------------------------------------------------------------------------
1,657.70 1,658.50 0.80 2.62 4.31 0.13
-------------------------------------------------------------------------
1,677.70 1,678.50 0.80 2.62 30.40 0.89
-------------------------------------------------------------------------
1,746.50 1,750.00 3.50 11.48 27.91 0.81
-------------------------------------------------------------------------
including 0.70 2.30 129.50 3.78
-------------------------------------------------------------------------
BC 27-7
-------
BC 27-7 was wedged off the BC 27 "mother hole" at a depth of
793.30�metres and directed as a step-out hole to the southwest to test the BCD
mineralized envelope along strike. The hole was drilled to a final depth of
1,789.0 metres and intersected mineralized structures at 1,618 metres and
1,622 metres within biotitically altered metavolcanics of the Balmer
Assemblage. BC 27-7 successfully extended the BCD mineralized envelope by
approximately 25 metres to the southwest.
BC 27-7
-------------------------------------------------------------------------
Intersection Gold
(in Metres) Length ---------------------------
------------------------------------- Grams per Ounces per
From To Metres Feet Tonne (g/t) Ton (oz/t)
-------------------------------------------------------------------------
1,618.00 1,619.00 1.00 3.28 3.74 0.11
-------------------------------------------------------------------------
1,622.00 1,623.00 1.00 3.28 4.30 0.13
-------------------------------------------------------------------------
This hole completes the BC 27 Series of drill holes. This drill rig has
been reoriented towards the northwest to initiate the BC 29 Series in order to
target the under-explored area between the BC 21 Series and BC 19 Series of
drill holes.
BC 28 Series
The BC 28 'mother hole' was collared at the same location as the BC 17
Series and BC 21 Series and is designed to further evaluate the area up-dip
from the significant mineralized zones intersected in the BC 10 Series and
BC�11 Series. Several mineralized structures were interstected between
1,317.40 and 1,584.20 metres, a core length of 266.80 metres. The results
further establish both the structural and mineralogical continuity within the
mineralized envelope. These mineralized zones are hosted within biotite
carbonate and silica alteration associated with shearing and brecciation in
metavolcanic rocks of the Balmer Assemblage. Mineralization consisted of
pyrrhotite with occasional fine grained arsenopyrite and visible gold.
BC 28-1
-------------------------------------------------------------------------
Intersection Gold
(in Metres) Length ---------------------------
------------------------------------- Grams per Ounces per
From To Metres Feet Tonne (g/t) Ton (oz/t)
-------------------------------------------------------------------------
1,317.40 1,319.80 2.40 7.87 3.44 0.10
-------------------------------------------------------------------------
1,323.00 1,323.80 0.80 2.62 6.40 0.19
-------------------------------------------------------------------------
1,332.60 1,347.80 15.20 49.87 7.07 0.21
-------------------------------------------------------------------------
including 3.20 10.50 10.36 0.30
-------------------------------------------------------------------------
including 0.80 2.62 17.75 0.52
-------------------------------------------------------------------------
1,357.70 1,360.60 2.90 9.51 4.08 0.12
-------------------------------------------------------------------------
1,383.80 1,385.40 1.60 5.25 3.20 0.09
-------------------------------------------------------------------------
1,399.75 1,401.15 1.40 4.59 12.86 0.38 VG
-------------------------------------------------------------------------
including 0.70 2.30 23.90 0.70 VG
-------------------------------------------------------------------------
1,403.25 1,404.65 1.40 4.59 5.90 0.17 VG
-------------------------------------------------------------------------
1,478.90 1,479.70 0.80 2.62 5.97 0.17
-------------------------------------------------------------------------
1,514.20 1,517.00 2.80 9.19 4.40 0.13
-------------------------------------------------------------------------
1,574.60 1,575.20 1.60 5.25 5.29 0.15
-------------------------------------------------------------------------
1,583.40 1,584.20 0.80 2.62 3.08 0.09
-------------------------------------------------------------------------
BCD Step-Out Drilling Program
A second rig capable of drilling to depths of 2,500 metres has arrived on
site. Both of the 2,500 metre capacity rigs will be dedicated to 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 some 445 horizontal metres away. It is expected that this important
drilling program will take up to 24 months to complete.
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 on www.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
