Ucore Uranium Inc. by Producing Status, Project Status, Drill Program Status
BacTech Mining Corporation by 43-101 Status, Producing Status, Country Of Development, Resource Types, Drill Program Status
Interests are properties owned or managed by the company.
Projects define work being performed on an Interest.
A Company may control many Interests and each Interest may contain many Projects.
Interests
Bruce Channel Discovery in Red Lake, Northwestern Ontario, Canada
Projects
Bruce Channel Discovery
Exploration (pre 43-101)
Is Producing?
No
Is NI 43-101 compliant?
No
Started drilling program
2008 program commenced mid January
12
Gold Eagle Mines Ltd. is a Canadian based gold exploration and development company developing the significant Bruce Channel Discovery on its 100% owned Gold Eagle property in Red Lake, Ontario. The company is well funded to advance the development of the BCD with continued surface drilling, and an Advanced Underground Exploration Program.
Gold
Articles and Press Releases
Gold Eagle Mines Ltd. - Significant Grades And Widths Continue To Be Intersected At The Bruce Channel Discovery
TORONTO, April 14 - Gold Eagle Mines Ltd. (TSX: GEA) ("Gold Eagle" or the "Company") is pleased to announce the latest series of drill holes from its 100% owned Gold Eagle property located in Red Lake, Ontario. The Gold Eagle property is situated along the prolific Red Lake Trend, west of Goldcorp Inc's operating Red Lake and Campbell Mines and immediately southwest of Goldcorp Inc's past producing Cochenour-Willans Mine.
Highlights: - Drilling continues to intersect significant grades and widths - Drilling continues to encounter multiple high grade zones with visible gold - BC 29 Series extends the Upper Main Zone approximately 50 metres further south - The mineralized envelope extends a minimum of 1,100 metres vertically with horizontal dimensions up to 720 metres northeast-southwest by 450 metres northwest-southeast - The mineralized envelope remains open in all directions - The second deep drill rig, which is located on the mainland, has initiated a step-out program from the BCD towards the Finn Zone
Highlights of latest drilling:
Hole Number
Metres
Grams/Tonne
Feet
Ounces/Ton
(g/t)
(oz/t)
BC 29-3
4.20
29.85
13.78
0.87
including
2.40
50.47
7.87
1.47
BC 29-1
4.20
14.96
13.78
0.44
including
0.70
71.70
2.30
2.09
BC 29-2
3.50
12.96
11.48
0.38
including
0.70
37.10
2.30
1.08
BC 29-4
0.90
27.00
2.95
0.79
BC 29-4
0.70
21.80
2.30
0.64
BC 31-1
1.20
127.28
3.94
3.71
including
0.50
238.00
1.64
6.94
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. The BCD mineralized envelope remains open in all directions.
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 these structures exhibit horizontal and vertical continuity.
BC 29 Series
The BC 29 Series of holes are testing the open area south of the significant high grade intersections encountered in the BC 19 Series (BC 19-15 and BC 19-16; See press release dated February 13, 2008), which has been named the Upper Main Zone. The BC 29 Series is interpreted to have extended, by approximately 50 metres to the south, the high grade gold structures of the Upper Main Zone. The Upper Main Zone is one of a number of high grade gold structures that have so far been intersected within the BCD. In particular, the Upper Main Zone has demonstrated very strong continuity along strike and to depth. The BC 29 Series are collared at the same location as the BC 21, BC 25 and BC 27 Series.
See map, "Drill Plan (BC Series-14Apr08)", on the company website.
BC 29-1
BC 29-1 mother hole was drilled to a final depth of 1,407.00 metres and intersected a number of mineralized zones between 1,137.20 and 1,303.30 metres, a core length of 166.10 metres. The hole encountered banded iron formation, cherty sediments and felsic pyroclastic rocks of the Bruce Channel assemblage to a depth of 654.40 metres. The rest of the hole encountered variably altered mafic volcanic rocks with subordinate ultramafic rocks of the Balmer Assemblage.
Pervasive biotitic alteration was ubiquitous from approximately 1,130.00 metres to the bottom of the hole. Two significant carbonate zones were intersected below which gold mineralization was encountered. The first was intersected from 1,137.20 to 1,137.50 metres and was followed by a zone of brecciation with associated disseminated pyrrhotite and very fine grained felted arsenopyrite. A second carbonate zone intersected from 1,187.70 to 1,197.20 metres was also followed by a brecciated zone which hosted disseminated pyrrhotite, local fined grained massive and acicular arsenopyrite, and visible gold.
BC 29-1
Intersection (in Metres)
Length
Gold
Grams
Ounces
From
To
Metres
Feet
per Tonne
per Ton
(g/t)
(oz/t)
1,137.20
1,146.80
9.60
31.50
4.88
0.14
including
g
0.60
1.97
23.10
0.67
including
0.60
1.97
14.35
0.42
1,156.70
1,157.30
0.60
1.97
21.70
0.63
1,185.40
1,186.20
0.80
2.62
4.03
0.12
1,193.50
1,197.40
3.90
12.80
5.76
0.16 VG
including
0.46
1.51
23.90
0.70 VG
1,203.00
1,205.80
2.80
9.19
3.95
0.12
1,208.60
1,212.80
4.20
13.78
14.96
0.44 VG
including
0.70
2.30
71.70
2.09 VG
1,246.70
1,248.50
1.80
5.91
3.30
0.10
1,257.90
1,259.50
1.60
5.25
3.46
0.10
1,302.90
1,303.30
0.40
1.31
9.45
0.28
BC 29-2
BC 29-2 was wedged off the mother hole at a depth of 895.30 metres and directed northwards. It was drilled to a final depth of 1,365.16 metres, and intersected a number of mineralized zones between 1,131.30 and 1,314.60 metres, a core length of 183.30 metres. The hole encountered variably altered mafic volcanic rocks with subordinate ultramafic rocks of the Balmer Assemblage.
Pervasive biotitic alteration commenced at 1,125.30 metres and continued through to the end of the hole. Three carbonate zones with local breccia texture were intersected at 1,146.00 to 1,156.00 metres, at 1,166.10 to 1,171.60 metres, and at 1,194.00 to 1,201.45 metres. Mineralization comprising disseminated pyrrhotite and associated very fine grained, locally felted arsenopyrite was identified within, and below, the carbonate zones. Visible gold was associated with quartz veins and silicification within the alteration.
BC 29-2
Intersection
Gold
(in Metres)
Length
Grams
Ounces
From
To
Metres
Feet
per Tonne
per Ton
(g/t)
(oz/t)
1,131.30
1,133.40
2.10
6.89
4.30
0.13
1,147.00
1,148.10
0.70
2.30
3.13
0.09
1,154.40
1,155.10
0.70
2.30
15.30
0.45
1,157.90
1,161.40
3.50
11.48
12.96
0.38
including
0.70
2.30
37.10
1.08,
1,171.90
1,172.60
0.70
2.30
7.12
0.21
1,177.50
1,178.90
1.40
4.59
10.32
0.30
1,190.10
1,190.90
0.80
2.62
3.26
0.10 VG
1,208.10
1,209.00
0.90
2.95
13.02
0.38 VG
1,220.60
1,221.30
0.70
2.30
9.52
0.28
1,313.80
1,314.60
0.80
2.62
5.59
0.16
BC 29-3
BC 29-3 was wedged off the mother hole at a depth of 916.60 metres and directed upwards targeting the zones encountered in BC 29-2 at a higher elevation. The hole intersected volcanic rocks of the Balmer Assemblage to its final depth of 1,431.50 metres, and intersected a number of mineralized zones between 1,119.20 and 1,256.00 metres, a core length of 136.80 metres.
The drill hole encountered biotite altered mafic volcanics to a depth of 999.20 metres. A carbonate zone was noted at 999.20 to 1,013.25 metres below which carbonatized and locally sheared ultramafic rocks were intersected to a depth of 1,120.00 metres. An alteration zone comprised of biotite with silicification and carbonatization within locally sheared and brecciated intervals was hosted in mafic volcanic rocks to a depth of 1,192.45 metres. Disseminated pyrrhotite and arsenopyrite with associated gold mineralization were noted within this interval. A second carbonate zone was identified from 1,192.45 to 1,196.00 metres below which biotite altered mafic volcanics with local zones of strong silica and carbonate alteration hosted disseminated pyrrhotite, arsenopyrite, and gold mineralization.
BC 29-3
Intersection
Gold
(in metres)
From
To
Metres
Feet
per Tonne
per Ton
(g/t)
(oz/t)
1,119.20
1,120.00
0.80
2.62
3.50
0.10
1,122.40
1,123.20
0.80
2.62
3.47
0.10
1,124.80
1,126.40
1.60
5.25
4.08
0.12
1,151.10
1,151.70
0.60
1.97
23.20
0.68
1,152.90
1,157.10
4.20
13.78
29.85
0.87 VG
including
2.40
7.87
50.47
1.47 VG
1,161.10
1,161.90
0.80
2.62
3.27
0.10
1,200.90
1,201.70
0.80
2.62
8.59
0.25
1,203.30
1,208.10
4.80
15.75
7.87
0.23 VG
including
0.80
2.62
40.50
1.18 VG
1,234.60
1,235.40
0.80
2.62
4.09
0.12
1,254.00
1,256.00
2.00
6.56
4.74
0.14
BC 29-4
BC 29-4 was wedged off the mother hole at a depth of 712.50 metres and directed to target the zone southwest of the mineralized intervals in BC 29-3. It was drilled to a final depth of 1,431.50 metres in rocks assigned to the Balmer Assemblage, and intersected a number of mineralized zones between 1,153.00 and 1,387.10 metres, a core length of 234.10 metres.
The hole intersected carbonatized and locally chloritized mafic volcanic rocks with subordinate felsic volcanic rocks to a depth of 1,124.50 metres. Below, and to a depth of 1,156.85 metres, the hole comprised ultramafic rocks with local zones of brecciated carbonate and quartz veins and disseminated pyrrhotite and pyrite mineralization. The remainder of the hole consisted of mafic volcanic rocks with pervasive biotite alteration and local zones of silicification. Several of the silicified zones host disseminated pyrrhotite, locally with felted arsenopyrite and associated gold mineralization.
BC 29-4
Intersection
Gold
(in Metres)
Length
Grams
Ounces
per Tonne
per Ton
From
To
Metres
Feet
(g/t)
(oz/t)
1,153.00
1,157.80
4.80
15.75
5.82
0.17
1,162.70
1,166.20
3.50
11.48
3.20
0.09
1,190.90
1,191.60
0.70
2.30
5.39
0.16
1,201.40
1,207.70
6.30
20.67
5.97
0.17
1,205.60
1,206.30
0.70
2.30
21.80
0.64
1,209.80
1,211.90
2.10
6.89
3.47
0.10
1,220.30
1,222.40
2.10
6.89
4.76
0.14
1,226.60
1,228.20
1.60
5.25
3.47
0.10
1,233.30
1,236.00
2.70
8.86
3.14
0.09
1,243.20
1,248.00
4.80
15.75
8.89
0.26
including
0.90
2.95
20.40
0.59
including
0.70
2.30
29.10
0.85
1,316.00
1,317.00
1.00
3.28
4.02
0.12
1,386.20
1,387.10
0.90
2.95
27.00
0.79
The BC 29 series of drill holes are ongoing and additional results will be reported as they become available.
BC 31 Series
The BC 31 Series of holes are also planned to test the open area south of the significant high grade intersections in the BC 19 Series of holes (BC 19-15 & BC 19-16; see press release dated February 13, 2008), but at greater depth than the BC 29 Series. The BC 31 Series are collared at the same location as the BC 10, BC 11 and BC 19 series of holes.
See map, "Drill Plan (BC Series-14Apr08)", on the company website.
BC 31-1
BC 31-1 mother hole was drilled to a depth of 1,644.00 metres. The hole was directed to further test the open area south of the high grade intersections in the BC 19 Series of holes and at greater depth than the area tested by the BC 29 Series of drill holes. Although the drill hole did not reach its planned target depth due to drill rods jamming, significant mineralization was intersected near the bottom part of this hole.
The drill hole intersected iron formation, meta-sediments and felsic volcanics of the Bruce Channel Assemblage to a depth of 372.00 metres. Below this to the end of the drill hole, meta-volcanic rocks comprised predominantly of mafic flows with subordinate ultramafic and felsic volcanics were assigned to Balmer Assemblage. At approximately 1,479.00 metres the onset of pervasive biotite alteration with local zones of carbonate alteration and associated silicification and quartz veining occur. Mineralization associated with these zones comprised disseminated pyrrhotite locally with felted arsenopyrite and gold.
BC 31-1
Intersection
Gold
(in Metres)
Length
Grams
Ounces
From
To
Metres
Feet
per Tonne
per Ton
(g/t)
(oz/t)
1,619.90
1,621.10
1.20
3.94
127.28
3.71
including
0.50
1.64
238.00
6.94
1,623.70
1,624.40
0.70
2.30
8.26
0.24
The BC 31 Series of drill holes are ongoing and results will be reported as they become available.
BCD Step-Out Drilling Program
Both of the 2,500 metre capacity rigs have commenced 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 approximately 500 horizontal metres away. The drill located on McKenzie Island is in progress with the BC 30 Series and the drill located on the mainland is in progress with the BC 32 Series. It is expected that this important drilling program will take up to 24 months to complete.
Goldray Channel
A series of 4 drill holes totaling 4,469.10 metres were completed in the Goldray Channel area during the fall of 2007 and winter of 2008. The Goldray Channel area is located in the far northwest corner of the Gold Eagle Property. The holes were targeted to test the possible extensions of structures hosting gold mineralization at Goldcorp's past producing McKenzie Red Lake Mine located on McKenzie Island, where they potentially transect more favorably prepared volcanic stratigraphy west of the McKenzie Island Stock.
See map, "Drill Plan (GR Series-14Apr08)", on the company website.
GR 07-1
GR 07-1 was collared on Goldray Island, oriented at -60 degrees towards the south-southeast, and drilled to a final depth of 1,176.00 metres. The hole intersected a granodiorite to 80.00 metres and encountered calc-silicate altered meta-sediments cut by intermediate porphyry dikes to approximately 400.00 metres. Below this to 800.00 metres volcanic rocks assigned to the Confederation Assemblage comprised felsic to intermediate tuffs, lapilli tuffs, and agglomerate with subordinate mafic flows. Below 800.00 metres several serpentinized ultramafic units marked the transition into a thick sequence of mafic volcanic which continued to the end of the hole. This latter sequence may comprise the Balmer Assemblage in this area. No encouraging assays were returned from this drill hole.
GR 07-2
GR 07-2 was also collared on Goldray Island at the same location as GR 07-1, but oriented -63 degrees towards the south east, and drilled to a final depth of 1,350.00 metres. This hole intersected granodiorite to a depth of 163.00 metres. Below this to a depth of 822.50 metres volcanic rocks assigned to the Confederation Assemblage comprised intermediate to felsic pyroclastic rocks and cut by intermediate porphyry dykes. An ultramafic unit altered to talc and serpentine was intersected from 822.50 to 840.60 metres and marked the transition into a sequence of mafic volcanic rocks to a depth of 1,242.84 metres.
These rocks are interpreted to be part of the Balmer Assemblage. The mafic rocks were variably altered to carbonate, chlorite, and silica with greatest intensity associated with zones of shearing and brecciation between 1,019.28 and 1,069.77 metres. Disseminated pyrrhotite with trace arsenopyrite and chalcopyrite was locally noted through this interval. The hole intersected granodiorite of the McKenzie Island Stock from 1,242.84 meters to its final depth of 1,350.00 metres. From 1,291.25 to 1,299.80 meters a sericitized interval with associated pyrite mineralization as disseminations and veinlets was associated with quartz veining and gold mineralization.
GR 07-2
Intersection
Gold
(in Metres)
Length
Grams
Ounces
Comments
per Tonne
per Ton
From
To
Metres
Feet
(g/t)
(oz/t)
1,069.50
1,069.45
0.45
1.48
3.87
0.12
Potential Balmer Assemblage
1,291.80
1,292.80
1.00
3.28
3.05
0.09
McKenzie Island Stock
1,297.40
1,298.20
0.80
2.62
18.55
0.60
McKenzie Island Stock
1,300.60
1,301.40
0.80
2.62
3.88
0.12
McKenzie Island Stock
GS 28
GS 28 was drilled on McKenzie Island, with the objective to further evaluate the mineralized structures encountered in GR 07-2. The hole was drilled to a final depth of 1,132.90 metres. A sequence of intermediate to felsic pyroclastic rocks and tuffaceous sediments to 628.80 metres is considered to be Confederation Assemblage. Below this to 736.50 metres the hole cut several serpentinized ultramafic units with intervening meta-volcanics rocks comprising mafic and felsic pyroclastic rocks and mafic dikes. From 698.50 meters to 733.02 meters strong shearing was associated with variable biotite, sericite and local carbonate alteration. Weakly disseminated pyrite was ubiquitous throughout this interval but no encouraging assays were returned. The drill hole intersected augite diorite and granodiorite phases of the McKenzie Island Stock from 736.50 meters to its final depth of 1,132.90 metres. A zone of quartz sericite alteration with associated quartz stringers and disseminated pyrite and pyrrhotite was noted at 936.00 meters to 953.00 metres. The most significant assay returned was 1.14 g/t gold from 936.00 meters to 937.00 metres.
GS 28-1
GS 28-1 was wedged off GS 28 at a depth of 794.00 metres in part to test up dip of the quartz sericite zone noted at 936.00 to 953.00 metres in GS 28 and was drilled to a final depth of 1,604.00 metres to test for potential stacked mineralized structures within the McKenzie Island Stock. The hole remained in augite diorite, diorite and granodiorite phases of the McKenzie Island Stock through to the final depth. A number of quartz veins and quartz sericite altered intervals were encountered. A section cut from 934.00 to 943.00 metres is interpreted to be equivalent to the quartz sericite zone noted in GS 28 however no encouraging assays were returned. The most significant assay returned was 3.05 g/t gold from a narrow quartz vein at 1,236.00 meters to 1,236.80 metres.
The drill working on the Goldray Channel area has been redeployed to the Bruce Channel Discovery and further work on Goldray Channel is not contemplated at this time.
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.
TORONTO, March 17 /CNW/ - Gold Eagle Mines Ltd. (TSX: GEA) ("Gold Eagle" or the "Company") is pleased to announce its financial results for the period ended December 31st, 2007. (To review the complete audited Financial Statements and Management Discussion and Analysis, please see the Company's SEDAR filings at www.sedar.com or the Company's website at www.goldeaglemines.com). The Company has a strong balance sheet with assets totalling $419.0 million at December 31, 2007. The assets consist mainly of mineral exploration properties and expenditures thereon of $312.1 million, cash and cash equivalents of $106.0 million and accounts receivable, prepaid and other expenses of $0.5 million. The Company has $1.9 million of current liabilities and holds no long-term debt as all funding for exploration expenditures has been provided through the issuance of shares from the Company's treasury. The Company experienced a significant increase of cash and cash equivalents during fiscal 2007. The $85.2 million increase in cash and cash equivalents was propelled by the Company successfully completing the Financing for net proceeds of $84.2 million and the exercise of 1,031,642 stock options and 2,903,845 warrants for additional proceeds of $12.1 million. Gold Eagle is a development stage entity involved in the exploration and development of gold assets on its 100% owned Gold Eagle property. Accordingly, the Company does not generate revenues from its operations. Exploration expenditures on the Company's Gold Eagle property were $12.0 million during fiscal 2007 compared to $7.6 million during fiscal 2006. As a result of the merger on December 21, 2006 with Southern Star Resources Inc., the amount spent on exploration increased significantly during 2007 as compared to 2006 as the Gold Eagle property was, and remains, the primary focus of the Company's efforts. During the preparation of the Company's 2007 financial statements, an error was identified on the 2006 balance sheet relating to the accounting for unvested stock options granted to the Company's Board of Directors on December 21, 2006. The value of the unvested stock options and related future taxes was previously capitalized to mineral exploration properties. The restatement is a non-cash adjustment and the affect has no impact on either the Consolidated Statement of Operations and Deficit, or the Consolidated Statement of Cash Flows for the year ended December 31, 2006. Additional information is provided in Note 18 to the December 31, 2007 Financial Statements. As at March 17, 2008, Gold Eagle is well funded with a current cash position of approximately CDN$103 million and no long-term debt, and 101,078,568 million shares outstanding (107,156,831 shares outstanding on a fully diluted basis).
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.
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) -------------------------------------------------------------------------
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.
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.
TORONTO, Dec. 20 /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 Red Lake and Campbell Mines and immediately southwest of Goldcorp Inc's Cochenour-Willans Mine.
Highlights:
- Drilling expands the BCD mineralized envelope by approximately 50 metres to the southwest. - The mineralized envelope extends a minimum of 1,100 metres vertically with horizontal dimensions of 695 metres northeast-southwest by 450 metres northwest-southeast. - Drilling continues to intersect significant grades and widths. - Drilling continues to intersect multiple high-grade zones. - The BCD mineralized envelope remains open in all directions. - Systematic step-out drilling program from the BCD towards the Finn Zone to commence mid January, 2008.
Highlights of latest drilling:
Hole Number Metres Grams/ Tonne Feet Ounces/ Ton (g/t) (oz/t) ------------------------------------------------------------------------- BC 19-13 7.60 19.83 24.93 0.58 ------------------------------------------------------------------------- BC 19-10 2.40 14.07 7.87 0.41 ------------------------------------------------------------------------- BC 19-11 2.30 10.25 7.55 0.30 ------------------------------------------------------------------------- BC 19-12 3.20 24.38 10.50 0.71 ------------------------------------------------------------------------- including 0.80 90.57 2.62 2.64 ------------------------------------------------------------------------- BC 19-12 0.60 165.50 1.97 4.83 ------------------------------------------------------------------------- BC 19-13 7.00 12.82 22.97 0.37 ------------------------------------------------------------------------- including 2.00 38.03 6.56 1.11 ------------------------------------------------------------------------- BC 19-14 2.00 17.17 6.56 0.50 ------------------------------------------------------------------------- BC 23-3 6.10 7.30 20.03 0.21 ------------------------------------------------------------------------- including 1.90 20.56 6.23 0.60 ------------------------------------------------------------------------- BC 27-4 0.80 44.30 2.62 1.29 -------------------------------------------------------------------------
The BCD is a significant gold structure intersected at approximately 800 metres beneath the Bruce Channel waterway. The mineralized envelope is currently estimated to extend a minimum of 1,100 metres vertically and approximately 695 metres northeast-southwest and 450 metres northwest-southeast. The BCD mineralized envelope remains open in all directions. 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 under-explored area between the BC 10 and BC 11 Series of holes to the northeast and the BC 21 Series located 200 metres to the southwest. Drilling is continuing on the BC 19 Series of holes and additional results will be reported as they become available.
See map, "Drill Plan (BC Series-19Dec07)", on the company website http://www.goldeaglemines.com/_bin/images/maps.cfm
BC 19-10 -------- BC 19-10 was wedged off the "mother hole" at a depth of 861 metres with the objective to further test the mineralized structures reported in BC 19-9 along the strike to the southwest. The hole was drilled to a final depth of 1,512 metres and intersected a number of mineralized structures between 1,338.50 and 1,494.20 metres, a core length of 155.70 metres. The hole tracked approximately 65 metres south of BC 19-9 and again intersected a carbonate zone below which meta-volcanic and sedimentary rocks of the Balmer Assemblage are host to gold mineralization.
BC 19-10 ------------------------------------------------------------------------- Intersection Gold (in Metres) Length --------------------------- ------------------------------------- Grams per Ounces per From To Metres Feet Tonne (g/t) Ton (oz/t) -------------------------------------------------------------------------
BC 19-11 -------- BC 19-11 was 'wedged' off BC 19-10 at a depth of 982.70 metres and drilled to a final depth of 2,025 metres. BC 19-11 was directed to track steeper and north of the cut in BC 19-10 and also intersected carbonate zones between 1,260 and 1,308 metres. Below this, several structures within altered meta-volcanic and metasediments of the Balmer Assemblage were intersected between 1,309.90 and 1,970.80 metres, a core length of 660.90 metres.
BC 19-11 ------------------------------------------------------------------------- Intersection Gold (in Metres) Length --------------------------- ------------------------------------- Grams per Ounces per From To Metres Feet Tonne (g/t) Ton (oz/t) -------------------------------------------------------------------------
BC 19-12 -------- BC 19-12 was 'wedged' off BC 19-11 at a depth of 1,127 metres. The hole was drilled to a final depth of 2,219.80 metres and directed to flatten and track south of BC 19-11. The hole intersected carbonate zones between 1,294 and 1,341 metres followed by mafic meta-volcanics and metasediments of the Balmer Assemblage to the final depth. A number of mineralized structures, some with associated visible gold were intersected between 1,410.20 and 2,173 metres, a core length of 762.80 metres.
BC 19-12
------------------------------------------------------------------------- Intersection Gold (in Metres) Length --------------------------- ------------------------------------- Grams per Ounces per From To Metres Feet Tonne (g/t) Ton (oz/t) ------------------------------------------------------------------------- 1,410.20 1,410.60 0.40 1.31 11.85 0.35 VG ------------------------------------------------------------------------- 1,434.20 1,436.00 1.80 5.91 6.27 0.18 ------------------------------------------------------------------------- 1,681.00 1,684.20 3.20 10.50 24.38 0.71 VG ------------------------------------------------------------------------- Including 0.80 2.62 90.57 2.64 VG
Bruce Channel Discovery in Red Lake, Northwestern Ontario, Canada
