|By Marketwired .||
|March 13, 2014 07:28 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/13/14 -- Eagle Hill Exploration Corporation (TSX VENTURE:EAG)(OTCQX:EHECF) ("Eagle Hill" or the "Company") is pleased to announce that the Company has entered into a claims purchase agreement with Murgor Resources Inc. ("Murgor") (TSX VENTURE:MGR) and Cliffs Chromite Ontario Inc. ("Cliffs"), a wholly-owned subsidiary of Cliffs Natural Resources Inc. (NYSE:CLF)(PARIS:CLF), to purchase the 29 Claims (2,342 acres) and the 184 Claims (20,238 acres) immediately adjacent to the Windfall Lake Gold Project. Upon closing of the agreement, which remains subject to regulatory approval and other customary closing conditions, Eagle Hill will own 100% of the entire 30,650 acre (12,400 hectare) Windfall Lake Property, located in the Abitibi Gold Belt approximately 200 km northeast of Val d'Or, Quebec (Figure 1).
In consideration for purchasing Murgor and Cliffs' ownership interests in the 29 Claims and the 184 Claims, Eagle Hill will pay $250,000 and issue 9.5 million common shares to each of Murgor and Cliffs. In addition, Eagle Hill will grant a 0.5% net smelter returns royalty ("NSR") for the 29 Claims and a 1% NSR for the 184 Claims to each of Murgor and Cliffs. Eagle Hill will retain the right to buy back any of the NSRs at any time prior to first commercial production by paying $500,000 to the holder of the NSR.
"With this consolidation complete, Eagle Hill now owns 100% of a high-grade gold property in one of the world's best mining jurisdictions," said John Proust, Chairman and Interim Chief Executive Officer of Eagle Hill. "We advanced the Windfall Lake Gold Project significantly in 2013, upgrading and expanding the mineral resource and confirming continuity of mineralization both along strike and at depth. We will continue to focus on expanding the main deposit in 2014, and look forward to initiating exploration on the 29 Claims and the 184 Claims later in the year."
Exploration Upside on the 29 Claims and the 184 Claims
Eagle Hill plans to undertake both surface exploration and diamond drilling on the 29 Claims and the 184 Claims in 2014. Exploration to date on the 29 Claims includes 155 drill holes (22,665 metres). Of the existing Windfall Lake mineral resource, 47,000 ounces of the inferred resource (215,000 tonnes at 6.83 g/t gold) is located in zones F17 and F51 on the 29 Claims. While zones F17 and F51 are located approximately 400 metres north and 900 metres to the northeast of the Main Zone, respectively, Main Zone gold mineralization plunges in the direction of the 29 Claims property boundary. Eagle Hill plans to drill some deep holes in the second half of 2014 to test for possible down-plunge extension of Main Zone gold mineralization onto the 29 Claims.
Ownership of the 29 Claims also gives Eagle Hill access to the 5-metre by 5-metre ramp built by Noront Resources in 2008 at a cost of approximately $14.2 million. The ramp, which extends 1,450 metres with a vertical depth of 100 metres, starts on the 29 Claims and ends in the northeast section of the Main Zone and will provide good access for a bulk sample and future exploration work.
The 184 Claims have had limited exploration to date, with only 37 drill holes (6,402 metres) located mostly in the southern part of the property, yet historical drilling has yielded some high-grade results along an ENE-trending lineament parallel to the Main Zone. In addition, two significant gold-in-till anomalies in multiple samples have been identified in the western and northeastern parts of the property, confirming additional exploration potential in the 184 Claims. Eagle Hill plans to conduct follow-up till sampling and geophysical induced polarization ("IP") surveys on the 184 Claims with the objective of identifying drill targets.
To view Figure 1 - Windfall Lake Property, please visit the following link: http://media3.marketwire.com/docs/933098_FIGURE1.pdf.
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. 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.
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.
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", "retains the right", "look forward", "initiating", "expanding" 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.
DevOps and microservices are permeating software engineering teams broadly, whether these teams are in pure software shops but happen to run a business, such Uber and Airbnb, or in companies that rely heavily on software to run more traditional business, such as financial firms or high-end manufacturers. Microservices and DevOps have created software development and therefore business speed and agility benefits, but they have also created problems; specifically, they have created software securi...
Feb. 22, 2017 11:00 AM EST Reads: 3,237
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
Feb. 22, 2017 10:45 AM EST Reads: 341
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business. Though, IoT is far more complex than most firms expected with a majority of IoT projects having failed. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, Chief IoTologist at Wipro, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology portfolios and business models to adopt and leverage IoT. He will delve in...
Feb. 22, 2017 10:00 AM EST Reads: 1,499
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Feb. 22, 2017 09:45 AM EST Reads: 1,324
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Feb. 22, 2017 09:45 AM EST Reads: 797
In his session at @ThingsExpo, Steve Wilkes, CTO and founder of Striim, will delve into four enterprise-scale, business-critical case studies where streaming analytics serves as the key to enabling real-time data integration and right-time insights in hybrid cloud, IoT, and fog computing environments. As part of this discussion, he will also present a demo based on its partnership with Fujitsu, highlighting their technologies in a healthcare IoT use-case. The demo showcases the tracking of pati...
Feb. 22, 2017 09:29 AM EST Reads: 149
Tricky charts and visually deceptive graphs often make a case for the impact IT performance has on business. The debate isn't around the obvious; of course, IT performance metrics like website load time influence business metrics such as conversions and revenue. Rather, this presentation will explore various data analysis concepts to understand how, and how not to, assert such correlations. In his session at 20th Cloud Expo, Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Sys...
Feb. 22, 2017 09:15 AM EST Reads: 1,379
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Feb. 22, 2017 08:45 AM EST Reads: 1,131
Stratoscale, the software company developing the next generation data center operating system, exhibited at SYS-CON's 18th International Cloud Expo®, which took place at the Javits Center in New York City, NY, in June 2016.Stratoscale is revolutionizing the data center with a zero-to-cloud-in-minutes solution. With Stratoscale’s hardware-agnostic, Software Defined Data Center (SDDC) solution to store everything, run anything and scale everywhere, IT is empowered to take control of their data ce...
Feb. 22, 2017 08:30 AM EST Reads: 850
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Feb. 22, 2017 08:30 AM EST Reads: 833
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change the...
Feb. 22, 2017 08:15 AM EST Reads: 4,655
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
Feb. 22, 2017 08:00 AM EST Reads: 671
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
Feb. 22, 2017 07:00 AM EST Reads: 2,937
To manage complex web services with lots of calls to the cloud, many businesses have invested in Application Performance Management (APM) and Network Performance Management (NPM) tools. Together APM and NPM tools are essential aids in improving a business's infrastructure required to support an effective web experience... but they are missing a critical component - Internet visibility.
Feb. 22, 2017 06:45 AM EST Reads: 1,639
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem" ...
Feb. 22, 2017 06:00 AM EST Reads: 5,265