This morning, American Eagle Gold (TSX-V:AE, OTC:AMEGF) reported its best hole to date on its NAK copper-gold porphyry project in the Babine copper-gold porphyry district of British Columbia . NAK23-11 intersected 102 meters of 1.04% Copper Equivalent (“CuEq”) within 473 meters of 0.62% CuEq from surface.
American Eagle also reported assays from hole NAK23-10 which intersected 359 meters of 0.43% CuEq within 830 meters of 0.36% CuEq from surface. The results further demonstrate that the NAK mineralizing system has considerable scale and the potential for substantial growth in size and grade.
American Eagle has taken a methodical approach to stepping out and expanding the mineralized area at NAK. It is also notable that results from 2022 and 2023 drilling at NAK demonstrate an increasing grade profile, with strongly mineralized zones at depths less than 200 meters.
In hole 11, the strongest gold grades (.59 g/t Au over a 200+ meter interval) are found beginning at around 217 meters downhole and remain conspicuously higher grade down to roughly 430 meters downhole. The higher gold grades appear to be associated with purple anhydrite veins that host chalcopyrite, bornite, and molybdenite.
Hole 15, another large step-out 110 meters to the south of hole 11, is currently underway. Then the company will move the drill rig roughly 150 meters to the north of hole 11 in order to drill hole 16. Hole 16 will be drilled to the west at a similar orientation to hole 11, with the objective of further filling in the structure between the North Zone and South Zone. Currently there is a roughly 500 meter gap between the drilling to the west at the South Zone and the known extents of the North Zone.
In addition, in the video that accompanied today’s news release American Eagle VP of Exploration Neil Prowse also noted that the area south of hole NAK23-09 is highly prospective, and “an area of focus” for the company.
A very large mineralized system is coming into focus at NAK and assays are still pending from holes 12, 13, and 14 drilled at the North Zone. In particular, these 3 holes are follow-up holes to last year’s hole 22-04 that intercepted 527 meters of .45 Cu-Eq. The NAK Project is unique in that the lithologies and metal combinations differ somewhat from the other Babine porphyries. NAK appears to share more similarities with deposits in the Golden Triangle, but without the infrastructure challenges associated with them.
Meanwhile, the AE.V chart shows a continued consolidation near 52-week high share price levels.
AE.V (Daily)
American Eagle is starting to accumulate substantial volumes at NAK, and the extension of mineralization right to the surface is highly favorable. Several catalysts are on the horizon, including the assays of at least seven more drill holes.
Disclosure: Author owns AE.V shares at the time of publishing and may choose to buy or sell at any time without notice.
_________________________________________________________________________________-
Disclaimer
The contents of this article have been reviewed and approved by American Eagle Gold Corp. 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.