American Eagle Gold Corp. (TSXV:AE) (OTCQB:AMEGF) has announced that a second diamond drill rig is now operational on its NAK copper-gold project in British Columbia. Early reports indicate that drilling has encountered chalcopyrite, bornite, and molybdenite mineralization consistent with nearby holes drilled previously.

The company is anticipating receiving the final merged inversion modeling of its geophysical data, which includes further IP surveying across five lines completed recently, along with three lines completed in late 2023 and historical data collected by previous operators. Preliminary inversion modelling of this data, combined with the results of the company’s 2022 and 2023 drilling, has been used to guide the placement of this season’s drill collars.

The 2024 drill program, currently planned for 15,000 metres, aims to link, better define, and expand upon the historical North and South zones, which the company showed in its 2022 and 2023 drill programs to extend to considerable depths along a strike length of 750 m and across a width of 400 m. Notable intercepts from 2023 include 900 m of 0.50% Copper Equivalent from surface in the North zone and 302 metres of 1.09% Copper Equivalent within 606 m of 0.74% Copper Equivalent starting from 98 metres downhole in the South Zone.

The NAK Project lies within the Babine copper-gold porphyry district of central British Columbia and has excellent infrastructure through all-season roads. Historical drilling and geophysical, geological, and geochemical work at NAK, which began in the 1960’s, tested only to shallow depths but revealed a very large near-surface copper-gold system that measures over 1.5 km x 1.5 km.

American Eagle follows a rigorous sampling methodology and internal QA/QC protocol, with samples submitted to ALS Geochemistry in Langley, British Columbia for preparation and analysis. All samples are analyzed for gold, silver, copper, molybdenum and a suite of 45 other major and trace elements.

American Eagle is focused on exploring its NAK copper-gold porphyry project in west-central British Columbia, Canada. Mark Bradley, B.Sc., M.Sc., P.Geo., a Certified Professional Geologist and ‘qualified person’ for the purposes of Canada’s National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified and approved the information contained in this news release.​​​​​​​​​​​​​​​​

Highlights from the results are as follows:

• NAK24-18 has surpassed 750 metres and still drilling. It was collared 100 m north of NAK23-17, with the goal of testing favourable geology and its related geophysical expression in the area west of the Babine porphyry stock.
• NAK24-19, being drilled by the new rig, aims to test the near surface gold-rich mineralization encountered at the historical South Zone, to depth to the southeast. It is intended to traverse through a large and untested area along the southern margin of the Babine porphyry stock.
• NAK24-20, which will be drilled by the first rig, is planned to collar 100 m to the north of NAK24-18, and will continue to test the area being tested by that hole, with the aim of tracking the “IP shoulder” (a moderate chargeability response) which links the historical North and South zones at NAK.

Collar details for holes drilled in the 2022, 2023 and 2024 drill program: Table 1

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

American Eagle Gold (TSXV:AE) has reported new assay results from its NAK copper-gold porphyry project of significant high-grade surface and depth zones. The results come from the third and fourth holes from the 2022 drill program at the project.

Anthony Moreau, American Eagle’s CEO, commented in a press release: “This fourth drill hole is our best intercept to date and encountered a new higher-grade copper-rich zone 500 metres from our discovery hole. Hole NAK22- 04 ended within a wide high-grade zone but was unfortunately terminated early for technical reasons; however, holes NAK22-06 and – 07 successfully intersected the continuation of the same zone at depth and hit similar mineralization. We anticipate that the pending assays from those two holes will show similar results. Our step-out drilling continues to demonstrate a substantial footprint for this system.”

Highlights from the results are as follows:

• NAK22-04 returned 527 m @ 0.45% copper equivalent (“CuEq”) from surface, including 185 m @ 0.74% CuEq, and ended in high-grade mineralization (88 m @ 0.98% CuEq), representing the best deep intercept to date in the 2022 drill program
• NAK22-04 appears to have intersected a new copper-rich zone at depth, 500 metres north of discovery hole
• NAK22-03 and NAK22-04 are very widely spaced step-out holes from:
  • NAK22-01: 126 m @ 1.05% CuEq from surface within 851 m @ 0.37% CuEq
  • NAK22-02: 301 m @ 0.61% CuEq from surface within 956 m @ 0.37% CuEq
• Footprint is 1.5 km X 1.5 km and 1 km deep and is open in all directions
  • Large bulk tonnage potential with high-grade surface and depth zones developing
  • All holes show widespread mineralization, including high-grade zones
• Assays for holes NAK22-05, -06 & -07 are pending

Highlights of NAK’s 2022 Drill Program:

• NAK22-01 returned 851 m of 0.37% CuEq, including 126 metres of 1.05% CuEq from surface
• NAK22-02 returned 956 m of 0.37% CuEq, including 301 metres of 0.61% CuEq from surface
• NAK22-03 returned 906 m of 0.21% CuEq from surface, including 645 metres of 0.24% CuEq
• NAK22-04 returned 527 m of 0.45% CuEq from surface, including 89 metres of 0.98% CuEq

NAK22-04 Assay Results: Table 1

*Copper Equivalent (CuEq) % calculated using copper and gold length weighted assay results, with commodity prices assumed at Cu = 3.50 USD/lb, Au = 1700 USD/oz, Ag = 20 USD/oz, and Mo = 21 USD/lb. CuEq grade, including copper, gold, silver, and molybdenum based on 100% recoveries, is calculated using the following equation: CuEq. = Cu % + (Au grade in g/t x [Au price ÷ 31] / [Cu price x 2200]) + (Ag grade in g/t x [Ag price ÷ 31] / [Cu price x 2200] + (Mo grade in % x [Mo price x 2200] / [Cu price x 2200]). The assays have not been capped.

NAK22-03 Assay Results: Table 2

Collar details for holes drilled in the 2022 drill program: Table 3

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.