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.
I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I’ve contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.
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