Bald Eagle's Hot Springs Joint Venture Advances Exploration Objectives and Confirms Discovery of an Epithermal Mineral System
TORONTO , April 20, 2021 /CNW/ - Bald Eagle Gold Corp. ("Bald Eagle" or the "Company") (TSXV: BIG) is pleased to provide an update on its core drilling program. Initial observations are consistent with the objective of discovering a low-sulphidation epithermal mineral system at the Hot Springs Property. The analytical chemistry programs have been and/or are being carried out at American Assay Labs ("AAL") of Sparks, Nevada and at ALS Global Geochemistry Analytical Laboratory ("ALS") in Reno, Nevada . To expedite the receipt of full results and based on management's view of the results, several laboratories have been used due to capacity constraints for gold sample analysis in the State of Nevada . This is due to the current intensity of exploration in the state.
Initial nearer-to-surface results have been received for the first hole drilled. The results are from the upper portion of HS-2020-03, from 64 feet (19.5 metres) to 216 feet (65.8 metres) depth. Precious metal values were encountered over a 118.7-foot (36.2 metre) interval, from 97.3 feet (29.7 metres) to 216 feet (65.8 metres), which averaged 0.646 grams per tonne gold with 1.57 grams per tonne silver. This included a higher-grade interval of 45.8-feet (14.0 metres), from 124.5 feet (37.9 metres) to 170.3 feet (51.9 metres), which averaged 0.996 grams per tonne gold with 1.90 grams per tonne silver. These results only cover the upper 216 feet (65.8 metres) of this 800-foot (243.8 metre) core hole. The current drill program has focused on investigating targets at more than twice the depth of previous drill campaigns. These results demonstrate strong correlation with historic drilling records and confirm the presence of disseminated gold above the target exploration zone.
Alteration in drill hole HS-2020-03 was observed to be strongest and best developed between 216 feet (65.8 metres) to 609 feet (185.6 metres). Significant thicknesses of pervasive argillic alteration are associated with faults and fractures and in sand dominant zones of the Harmony Formation. Most of the gold intervals are associated with a zone of iron-oxide-silica-clay vein stockwork. Alteration was varied but consisted dominantly of pervasive to vein halo argillic and silicification, quartz-sericite-pyrite, veining, and hornfel to skarnoid type alteration.
Abundant argillic alteration, silicification and sulphide mineralization were observed in considerable portions of the 6,403 feet (1,951 metres) of core drilled to date. A total of five holes were completed in the first phase of drilling.
Mr. Sidney Himmel , President and Chief Executive Officer of the Company stated: "The Company selected the Hot Springs Property based on the historic reports and potential for the discovery of an epithermal style gold deposit at depth. These observations are consistent with our exploration model for the property. These results and observations are positive for several reasons. First, the amount of rock alteration and silicification indicate the presence of a large epithermal system. Second, the grades in this shallow portion of the drill hole correlate with previously report results. Third, there has been excellent correlation between the geophysical anomalies and zones of alteration, brecciation, and sulfidation."
Michael Feinstein , PhD, CPG, is the Qualified Person (Q.P.) responsible for the technical material contained in this document. All samples are collected and maintained in accordance with established QA/QC protocols. Analytical services reported in this press release were carried out by ALS Minerals, an ISO/IEC 17025:2005 & ISO-9001:2008 accredited laboratory. American Assay Labs will complete the cutting, preparation, and assaying for the remaining four holes. American Assay Labs is an ISO-17025 accredited laboratory.
The Hot Springs Property
The Hot Springs Property is a 50%-50% joint venture between the Company and Osgood Mountains Gold LLC. The Property consists of approximately 11,894 acres comprised of private mineral rights and unpatented federal lode mining federal claims. This location in north-central Nevada is located at the junction of the prolific Getchell Gold Trend and the northwestern Nevada Epithermal Province. Land Position is situated approximately 25 miles West of the Twin Creeks, Getchell and Pinson Mines and 30 miles East of the Sleeper Mine.
On March 5, 2021 , the Company filed an NI43-101 compliant technical NI-43-101 report on the Property, entitled "NI 43-101 Technical Report, Hot Springs Gold Project, Humboldt County, Nevada " with an effective date of November 3, 2020 . A set of historical data exists for 8,175 meters of drilling across 91 drill holes. The historic drill programs outlined a near surface zone of gold mineralization in an area with dimensions of approximately 1,200 metres by 400 metres. This area is known as the Dutch Flats Shear Zone.
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of advanced exploration assets in known gold districts in the Americas. The Company's objective is to acquire advanced exploration projects for exploration and development. The Company intends to, through evaluating historical data and utilizing modern exploration techniques and geological concepts enhance resources. The management team and board of directors of the Company have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States . Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information in this press release may include, without limitation, the future operating or financial performance of Bald Eagle, the estimates of potential quantity, grade, and metal and mineral content at the Property, Bald Eagle's assessment of the reliability and relevance of the historical drill results; the ability of the joint venture to operate the exploration and development programs for the Property, and the anticipated timing of the second phase exploration work.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Wolf, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Bald Eagle has attempted to identify important factors that could cause actual results to differ materially from those contained in 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 information 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 information. Bald Eagle does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE Bald Eagle Gold Corp.
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