This morning, American Eagle Gold (TSX-V:NAK) released the remaining results from its 2022 diamond drill program at the NAK Project near Smithers, BC. Hole NAK22-07 intersected 106 meters of .53% copper-equivalent from surface. In addition, holes NAK22-07 and 22-06 intersected several copper-rich bornite-bearing dykes at depth including:
- NAK22-06: 531.33 – 532.37 m; 1.04 meters @ 4.35% CuEq
- NAK22-07: 490.79 – 502.71 m; 11.92 meters @ 0.74 % CuEq
The copper-rich bornite-bearing dykes from holes 6 &7 are inferred to be associated with intercepts in previous holes drilled in 2022, such as:
- NAK22-02: 901.00 – 934.21 m; 33.21 m @ 0.95 % CuEq
- NAK22-02: 952.00 – 956.72 m; 4.72 m @ 1.52 % CuEq
- NAK22-04: 505.82 – 522.00 m; 16.18 m @ 0.86 % CuEq
It’s worth pointing out from the above long section that hole 01 has a considerable amount of purple and red (economic grade mineralization) that warrants being followed up in 2023 drilling. The initial plan is to step out from and infill between this year’s drill collars, as well as to expand and define the zones of higher-grade mineralization intercepted in holes NAK22-01, -02 and -04. In particular, hole NAK22-01 showed grades near surface that were exceptional for NAK, and this is particularly encouraging given that the closest historical hole, NAK95-15, was collared nearly 100 meters to the east of NAK22-01. That drill hole returned an intercept of 168.5 meters @ 0.81% CuEq from surface. The next closest, NAK96-55, was drilled 105 meters away to the northeast and returned 70 m @ 1.07% CuEq starting from 85 meters.
Furthermore, Hole 02 returned 301 meters of 0.61% copper-equivalent from surface. This is the sort of broad copper-gold mineralized intercept that helped GT Gold eventually receive a $393 million buyout offer in 2021 from the world’s largest gold producer, Newmont. Hole 04 was arguably the best hole ever drilled on the property, returning 185 meters @ 0.74% CuEq, ending in high-grade mineralization (88 m @ 0.98% CuEq), representing the best deep intercept to date in the 2022 drill program.
I believe that American Eagle is onto something potentially very large at NAK and this first pass core drilling program has returned encouraging results that have generated many targets that merit follow-up drilling in 2023. The repeated intersections of bornite rich dykes at a variety of depths, and at great distances apart, point to the presence of a high grade source on the property, an additional potential prize at depth.
American Eagle technical advisor Charlie Greig explained things succinctly in this video.
Disclosure: Author owns AE.V shares at the time of publishing and may choose to buy or sell at any time without notice.
The article is for informational purposes only and is neither a solicitation for the purchase of securities nor an offer of securities. Readers of the article are expressly cautioned to seek the advice of a registered investment advisor and other professional advisors, as applicable, regarding the appropriateness of investing in any securities or any investment strategies, including those discussed above. American Eagle Gold Corp. is a high-risk venture stock and not suitable for most investors. Consult American Eagle Gold Corp’s SEDAR profiles for important risk disclosures.
EnergyandGold has been compensated to cover American Eagle Gold Corp. and so some information may be biased. EnergyandGold.com, EnergyandGold Publishing LTD, its writers and principals are not registered investment advisors and advice you to do your own due diligence with a licensed investment advisor prior to making any investment decisions.
This article contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects”, “believes”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed by such forward-looking statements or forward-looking information, standard transaction risks; impact of the transaction on the parties; and risks relating to financings; regulatory approvals; foreign country operations and volatile share prices. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Actual results may differ materially from those currently anticipated in such statements. The views expressed in this publication and on the EnergyandGold website do not necessarily reflect the views of Energy and Gold Publishing LTD, publisher of EnergyandGold.com. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Junior resource companies can easily lose 100% of their value so read company profiles on www.SEDAR.com for important risk disclosures. It’s your money and your responsibility.