Click here to close now.




















Welcome!

News Feed Item

Eagle Hill Releases Updated Mineral Resource Statement for Windfall Lake Gold Project, Increases Indicated Mineral Resource by 38%

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/03/14 -- Eagle Hill Exploration Corporation (TSX VENTURE: EAG)(OTCQX: EHECF) ("Eagle Hill" or the "Company") is pleased to release an updated mineral resource statement for the Windfall Lake Gold Project, located in the Abitibi Gold Belt in Quebec, Canada. The mineral resource statement was prepared by SRK Consulting (Canada) Inc. ("SRK") and updates the previous resource statement prepared by SRK in July 2012. The revision is based on the results from a total database of 706 core boreholes (192,045 metres) of which 635 boreholes (179,641 metres) were used for mineral resource estimation purposes.

Resource Statement

Compared to the July 2012 mineral resource statement, the indicated mineral resource tonnage and contained gold have increased by 43% and 38%, respectively, resulting in contained gold of 744,000 ounces grading 9.75 g/t gold. Indicated mineral resources are defined only within the Main Zone, which is informed by higher density of drilling data and better confidence in the geological continuity of the gold mineralization. The inferred mineral resource is estimated at 3,084,000 tonnes grading 7.37 g/t gold for contained gold of 731,000 ounces.

Table 1: Mineral Resource Statement, Windfall Lake Gold Project, Quebec SRK Consulting (Canada) Inc., February 28, 2014


----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                  Grade       Contained Gold
Resource Classification              Tonnes       (g/t)             (ounces)
----------------------------------------------------------------------------
Indicated                         2,375,000        9.75              744,000
----------------------------------------------------------------------------
Inferred                          3,084,000        7.37              731,000
----------------------------------------------------------------------------
----------------------------------------------------------------------------

1.  Prepared by SRK Consulting (Canada), Inc. with an effective date of
    February 28, 2014.
2.  Mineral resources are not mineral reserves and do not have demonstrated
    economic viability. There is
    no certainty that all or any part of the mineral resources will be
    converted into mineral reserves.
3.  All figures have been rounded to reflect the relative accuracy of the
    estimates.
4.  Reported at a cut-off grade of 3.0 g/t gold, assuming an underground
    extraction scenario, a gold price of US$1,200 per ounce and
    metallurgical recovery of 91.7%.
5.  The inferred mineral resource includes 215,000 tonnes at 6.83 g/t gold
    for contained gold of 47,000 ounces in zones F17 and F51, located on the
    Murgor-Cliffs claims immediately adjacent the Main Zone of the Windfall
    Lake Project.
6.  The National Instrument 43-101 technical report for this resource
    statement will be filed by Eagle Hill
    on SEDAR at www.SEDAR.com by April 17, 2014.

Upside Potential

The Fall 2013 drilling program confirmed continuity of gold mineralization below the Red Dog intrusion. The inferred mineral resource in Table 1 includes 455,000 tonnes at a grade of 8.21 g/t gold for 120,000 contained ounces of gold below the main Red Dog dike, confirming the continuity of the gold mineralization below that intrusion. This highlights the potential to significantly increase the mineral resource below the Red Dog intrusion. Hole-to-hole induced polarization ("IP") geophysical data confirm the continuity of the pyrite stockwork hosting the Main Zone below the Red Dog intrusion and have defined drilling targets. Deep drilling and additional IP surveys are an exploration priority.

Recent drilling also identified a late phase of gold mineralization within the Red Dog dike that was previously thought to be barren. At the current wide-spaced drilling the new gold mineralization style inside the Red Dog dike contributes only a small tonnage to the inferred mineral resource (249,000 tonnes at 4.26 g/t gold for 34,000 ounces), but highlights the potential for this intrusion to host further mineral resources.

Previously announced drilling in the area to the southwest of the Main Zone confirmed gold mineralization in this area and returned significant gold intercepts. Spacing of existing boreholes is too sparse to confirm continuity between sampling points and support mineral resource evaluation. Additional drilling in this area has the potential to add to the mineral resource of the project.

Eagle Hill is reviewing SRK's technical report for the project, which will include SRK's recommendations for advancing the property. Eagle Hill has commenced a 2,200-metre drilling program to test for extensions of Zone 27 under shallow lakes (2 to 6 metres depth) that are currently frozen. Eagle Hill plans to drill 14 holes to a depth of 120 to 250 metres to test the lateral extensions of Zone 27, where drilling has confirmed near-surface high-grade intervals such as 14.8 g/t gold over 16.0 metres (EAG-12-418). Additional drilling for 2014 will be planned once the Company has reviewed the technical report and considered SRK's recommendations. Eagle Hill will file the technical report on SEDAR at www.sedar.com by April 17, 2014.

Mineral Resource Estimate Methodology

A database comprising 635 core boreholes (179,641 metres), which represents drilling data acquired between 2004 and 2014 by Murgor Resources Inc., Noront Resources Inc. and Eagle Hill, were used for geological modelling and mineral resource estimation. The borehole data include collar location, down-hole survey data, lithology codes and 111,648 sample intervals assayed for gold.

The mineral resource model is based on a complete re-interpretation of the geology of the project, providing a more confident interpretation of the controls on the distribution of the gold mineralization and better confidence in its continuity between the sampling points. Fifteen resource domains were defined within a broad pyrite stockwork zone forming the Main Zone. In addition, the gold mineralization contained in geological domains was also considered (pyrite stockwork and various generations of dikes). Data were extracted from within these domains for geostatistical analysis.

After review, a grade estimation strategy was defined to populate a GEMS block model with gold grade informed from capped composite data using a geostatistical block modelling approach. Appropriate validations were undertaken to ensure that the block model adequately represents the informing composite data. Block estimates were classified into indicated and inferred categories considering confidence in geological interpretation, confidence in geostatistical continuity, estimation and the density of the informing data.

Indicated mineral resources are defined only within the Main Zone, which is informed by higher density of drilling data and better confidence in the geological continuity of the gold mineralization. The mineral resources in all other zones are informed by more widely spaced drilling information or exhibit a lower confidence in geological continuity and thus are appropriately classified in the inferred category.

The mineral resource has been estimated in conformity with the CIM Mineral Resources and Mineral Reserves Estimation Best Practices Guidelines and are classified according to the CIM Definition Standards for Mineral Resources and Mineral Reserves (December 2010) guidelines. The mineral resource statement is reported in accordance with Canadian Securities Administrators' National Instrument 43-101.

On Behalf of the Board of Directors

John Proust, Chairman and Interim CEO

About the Windfall Lake Gold Project

The Windfall Lake gold deposit comprises a number of lenses of pyritic stockwork and shear zones situated in the Archean Urban-Barry Greenstone Belt, approximately 200 km northeast of Val d'Or, Quebec. SRK Consulting (Canada) Inc. prepared a mineral resource statement for Eagle Hill in compliance with National Instrument 43-101 in February 2014 comprising 2,375,000 tonnes at 9.75 g/t gold (744,000 ounces) in the indicated category and 3,084,000 tonnes at 7.37 g/t gold (731,000 ounces) in the inferred category. This news release reports this mineral resource estimate. The bulk of the mineralization occurs in the Main Zone, a southwest/northeast trending zone of stacked mineralized lenses, measuring approximately 600 metres wide and at least 1,400 metres long.

About Eagle Hill Exploration Corporation

Eagle Hill Exploration Corporation is a Canadian mineral exploration company focused on the exploration and development of the high-grade Windfall Lake Gold Deposit, located between Val-d'Or and Chibougamau in Quebec. In August 2013, Southern Arc Minerals and Dundee Corporation invested an aggregate of $12 million to purchase a controlling interest in Eagle Hill and fund an aggressive exploration program. More information is available at www.eaglehillexploration.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Qualified Person

The construction of the mineral resource model was a collaborative effort between Eagle Hill and SRK personnel. The resource estimation work was completed by Dr. Jean-Francois Ravenelle PGeo (OGQ#1062), Dorota El-Rassi, PEng (APEO #100012348) and Dominic Chartier, PGeo (OGQ#874) under the supervision of Glen Cole, PGeo (APGO #1416). By virtue of their education, relevant project experience, and affiliation to a recognized professional association, Dr. Ravenelle, Ms. El-Rassi, Mr. Chartier and Mr. Cole, are "qualified persons" independent from Eagle Hill for the purposes of National Instrument 43-101. Mr. Cole has reviewed the information contained in this news release.

The technical information in this document has been reviewed by Eagle Hill's Vice President Exploration, Jean-Philippe Desrochers, PhD, PGeo, who has sufficient experience relevant to the style of mineralization under consideration and qualifies as a Qualified Person as defined by National Instrument 43-101. The drill program and sampling protocol is managed by Eagle Hill under the supervision of Jean-Philippe Desrochers. The diamond drill holes are drilled at NQ sizes and core recovery to date has averaged better than 95.0%. Half core is cut by rock saw and is generally sampled using nominal 1-metre intervals; however, sample intervals vary according to geological contacts and have ranged between 0.3 to 1.5 metres in length. Two quality control samples (one blank and one certified reference material) are inserted into each batch of 20 samples. All assays were performed by ALS Chemex Laboratory Group, in Val d'Or, Quebec. The half core samples are securely transported from the project site to the ALS Chemex laboratory by Eagle Hill personnel. Gold analyses reported in this release were performed by standard fire assay using a 50-gram charge with atomic absorption finish and a gravimetric finish for assays greater than 10 grams per tonne and by metallic sieve method for samples containing significant amounts of pyrite or visible gold. In addition, an Aqua regia digestion with ICP-AES finish is used to analyse a full suite of elements including silver and base metals.

Cautionary Note Regarding Forward-looking Statements

This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of any of the words "will", "will be", "potential", "increase" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. This document contains forward-looking statements and assumptions pertaining to the following: uncertainty involving resource estimates and the ability to extract those resources economically, or at all; uncertainty involving drilling programs and the Company's ability to expand and upgrade existing resource estimates; the regulatory process and actions; the need to work with local communities and authorities to advance the properties; the need to work with Dundee and Southern Arc to advance the property; technical issues; new legislation; competitive factors and conditions; uncertainties resulting from potential delays or changes in plans; the occurrence of unexpected events; and the Company's ability to execute and implement future plans. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors, including uncertainty related to drill results and the inclusion of drill results in future resource estimates for the property. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
Learn how to solve the problem of keeping files in sync between multiple Docker containers. In his session at 16th Cloud Expo, Aaron Brongersma, Senior Infrastructure Engineer at Modulus, discussed using rsync, GlusterFS, EBS and Bit Torrent Sync. He broke down the tools that are needed to help create a seamless user experience. In the end, can we have an environment where we can easily move Docker containers, servers, and volumes without impacting our applications? He shared his results so yo...
Palerra, the cloud security automation company, announced enhanced support for Amazon AWS, allowing IT security and DevOps teams to automate activity and configuration monitoring, anomaly detection, and orchestrated remediation, thereby meeting compliance mandates within complex infrastructure deployments. "Monitoring and threat detection for AWS is a non-trivial task. While Amazon's flexible environment facilitates successful DevOps implementations, it adds another layer, which can become a ...
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...