Bald Eagle (TSX.V: BIG) has completed 5 drill holes during its winter drilling campaign at the Hot Springs Property in Nevada. The company has announced results for 3 holes, in which 2 of the 5 holes intercepted a newly identified zone of gold mineralization (hole HS-2020-01 reported; HS-2020-04 pending). The new zone of mineralization correlates well with the IP geophysics chargeability anomalies identified by the joint venture prior to commencement of the drill program. Drilling identified wide intercepts of significant alteration, which display characteristics of a hybridized low-sulphidation epithermal gold system. The majority of historical drilling did not investigate horizons deeper than 100 metres. The average hole depth of this program was approximately 370metres. Based on these deeper drill results, a new system has been identified. These drill results materially increase the potential to establish a significant gold resource.
The analytical chemistry programs for the first three holes were completed by American Assay Labs in Sparks, Nevada, and ALS Global Geochemistry Analytical Laboratory in Reno, Nevada. The drilling of the five core holes was completed in March 2021. The program totaled 1,846.3 metres of core drilling. All results are being incorporated into the Property’s three-dimensional Leapfrog model and correlated to the IP geophysics data.
Results from the first 3 core holes:
Drill hole HS-2020-01was designed to twin a previous high-grade shallow intercept and further investigate mineralization at depth based on anomalies identified during the IP geophysics program. The deeper zone was encountered from 180.3 to 389.9 metres and intercepted 209.6 metres averaging 0.55 grams per tonne gold. This included 39.7 metres averaging 0.70 grams per tonne gold and 32.5 metres averaging 0.79 grams per tonne gold. Based on the results of HS-2020-01, it has been determined that significant gold mineralization is associated with sulfides. Therefore, the up coming programs will be testing a number of identified geophysical targets, which represent sulfide bodies that may contain significant gold mineralization. This drill hole confirmed the increase in gold mineralization associated with sulphide content starting at 180 metres and throughout the chargeability anomaly.
The deep zone of HS-2020-01 is hosted within a shattered zone of the Harmony Formation where multiple silicification events, brecciation events, and silica-sulphide pulses have created a broad mineralized zone. The zone is open laterally and along strike. More drilling is planned to test offsets of this mineralized body as well as evaluating other geophysical targets.
HolesHS-2020-02 and HS-2020-03 tested shallow mineralization previously identified in historical surface exploration results. Drill hole HS-2020-02 was drilled at the top of the hill above hole HS-2020-03 and was designed to test for further mineralization at depth. The zone from 20.9 to 100.9 metres intercepted 80.0 metres averaging 0.24gram per tonne gold. This interval correlates with hole HS-2020-03. Drill HoleHS-2020-03 was the first hole drilled during the program. The target zone was encountered from 24.1 to 103.4 metres intercepting 79.3 meters and averaged 0.36grams per tonne gold. Drill hole HS-2020-03 did not reach the target depth.
Drill hole HS-2020-04 will assist in determining stratigraphic and structural continuity of hole HS-2020-01. This is important as the mineralization appears to have stratigraphic and structural controls.
Mr. Sidney Himmel, President, CEO and Director, comments: “These results are consistent with our belief that the Property hosts an epithermal gold deposit. In particular, the results of hole HS-2020-01which tested one of the geophysical anomalies, was very promising in terms of the width of mineralized horizons and correlation of sulfides with gold. These initial grades are consistent with large and mineable bulk tonnage gold deposits in Nevada. The next programs will entail the targeting of additional geophysical targets, a number of which have been identified, and will result in the creation of a local mineral deposit model incorporating structural and lithological controls. With a deeper epithermal system now confirmed, the results now warrant undertaking a comprehensive exploration program to infill known mineralized zones, and to test the extent of mineralization across the entire project area.”
The technical information in this news release has been reviewed and approved for disclosure by Michael Feinstein, PhD, CPG, and the “qualified person” for Bald Eagle Gold Corp. within the meaning of NI 43-101. All samples are collected and maintained in accordance with established QA/QC protocols. Analytical services reported in this press release were carried out by ALS Minerals, an ISO/IEC 17025:2005& ISO-9001:2008 accredited laboratory. American Assay Labs will complete the cutting, preparation, and assaying for the remaining two holes. American Assay Labs is an ISO-17025 accredited laboratory.