TORONTO, Oct. 4, 2021 /CNW/ - American Eagle
Gold Corp. (TSXV: AE) ("American Eagle" or the
"Company") is pleased to announce it has engaged
Major Drilling for the Company's
initial drill program at its Golden Gate Project within the Cortez
Trend of Nevada. Drilling is expected to begin in November.
American Eagle is also providing shareholders with an
exploration update on its groundwork and targeting to date.
Additionally, American Eagle's Vice President of Exploration,
Mark Bradley, has provided a video
update discussing the Company's progress to date.
Video of Mark Bradley Discussing Golden Gate
and its Drill Plans
American Eagle's Development and Exploration Updates:
- Drill pad construction will be underway soon, and drilling is
expected to commence in November
- Drill permits have been received from the Bureau of Land
Management for the Golden Gate drill campaign.
- The exploration team has utilized geochemistry and geophysics
to delineate two initial drill target zones on the Cortez Fault
zone, south of Barrick's Cortez
Hills mine. Geophysical targeting includes:
-
- 2D seismic survey which showed significant folding &
thrusting near-surface that could provide mineralization traps for
Carlin-type deposits.
- CSAMT which showed sizable and 'rooted' areas of high
resistivity characteristic of lower plate carbonate
rocks
- The campaign will begin with a 3,000-metre program, with 3 – 4
drill holes focused on the Northern Cortez and Southern Cortez
target zones – click here to see Target Zones
- The goal of the program is to intercept lower plate rocks and
identify deep alteration, and mineralization analogous to
Barrick Gold's Gold Rush and
Cortez Hills projects next door
- Results of the drill program will help the exploration team
delineate a second drill campaign to vector into a discovery of an
orebody
"American Eagle Gold has taken great care in completing the
appropriate groundwork to maximize the potential outcome of this
upcoming drill program. Our team understands the challenges
that discovery brings, but being located within the Cortez Trend,
adjacent to world-class orebodies owned by Barrick and Newmont
provides us valuable information and insight on the gold system we
believe travels through the Golden Gate property. Also, being
led by Mark Bradley, who discovered
Barrick's Gold Rush deposit, gives us great confidence in our
exploration team. The Cortez trend has been an incredibly fertile
ground for gold, and we believe we are well-positioned for
discovery," said Anthony Moreau, CEO
for American Eagle Gold.
About American Eagle Gold Corp.
American Eagle Gold is traded on the TSX Venture Exchange under
the symbol 'AE' and is focused on exploring its flagship property,
Golden Gate. The property is strategically situated on the
Cortez Trend, which hosts three large Carlin-type gold deposits operated by Barrick
and Newmont's Joint Venture, Nevada Gold
Mines (Pipeline, Cortez Hills
and Goldrush). The property is located 10 km south of Cortez
Hills and 5 km south of Goldrush and shows many of the same
geological characteristics as at the two deposit areas.
Additionally, American Eagle Gold has optioned the Cerros Rojos
Property, located 150km south of Newmont's Long Canyon mine in
Nevada. Cerros Rojos had historical near-surface oxidized
gold drill intercepts, one of which measured 12.2m @ 0.57 g/t Au from the surface.
QP Statement
American Eagle's Vice President of
Exploration, 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.
For information and updates on American Eagle Gold, please
visit: www.americaneaglegold.ca
Forward-Looking Statements
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the TSX Venture Exchange
policies) accepts responsibility for the adequacy or accuracy of
this release. Certain information in this press release may contain
forward-looking statements. Forward-looking statements in this
press release include, but are not limited to, statements regarding
the planned work program on the Cerros Rojos Property, the timing
of the program milestones and TSX Venture Exchange approval of the
acquisition. This information is based on current expectations that
are subject to significant risks and uncertainties that are
difficult to predict. Actual results might differ materially from
results suggested in any forward-looking statements. American Eagle
Gold Corp. assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those reflected in the forward looking-statements
unless and until required by securities laws applicable to American
Eagle Gold Corp. Additional information identifying risks and
uncertainties is contained in filings by American Eagle Gold Corp.
with Canadian securities regulators, which filings are available
under American Eagle Gold Corp. profile at www.sedar.com.
SOURCE American Eagle Gold Corporation