American Eagle drills 1.02% CuEq over 125 metres at NAK, British Columbia

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American Eagle Gold Corp. [AE-TSXV] reported assay results from NAK22-01, the first hole of its 2022 program on its NAK copper-porphyry project, west-central British Columbia. All five holes drilled on NAK have intersected broad intervals of porphyry-style mineralization from surface to end-of-hole, the longest of which was 984 metres.

NAK is a classic porphyry copper-gold target whose current 5,000 m drill program tests the potential for a mineralized footprint greater than 1.5 km x 1.5 km. All five holes drilled to-date hit broad mineralization from surface to a maximum depth of 984 metres downhole. Assay results for NAK22-02 to -05 are pending.

“Our objective at NAK is to discover a world-class copper-gold deposit with a high-grade core at depth. Today’s results exceeded our expectations. We have encountered mineralization in every hole and intersected a wide, high-grade interval from surface on the first hole. The bounds of the system are entirely unknown, including depth extensions of high grade. These early results set us up for an exciting remainder of 2022 and 2023,” said Anthony Moreau, CEO.

NAK22-01 Intersection Details: Assay results from hole 1 confirm and expand upon NAK’s historically discovered copper-gold South Zone, which typically shows strong gold and copper results beginning at the bedrock surface. Mineralization is best developed in Hole 01 between 29.30 metres (depth to the bedrock beneath glacial overburden) to 155.50 metres (125.78 metres of 1.02% CuEq – copper equivalent).

It remains strong until a depth of 251.00 metres (221.28 metres 0.68% CuEq) within host intermediate volcanic rocks and intruding Babine Suite porphyry dykes. Mineralization through the zone is characterized by consistently high copper grades and conspicuously strong gold results.

From 784 to 819 metres, a zone of more intensely mineralized rock was encountered, with the robust copper results in the hole occurring between 801 and 818 metres (17 metres of 2.23% CuEq). Mineralization therein consisted of disseminated and semi-massive vein-hosted bornite and chalcopyrite.

Hole NAK22-01 returned 851.28 metres of 0.33% CuEq, including 125.78 metres of 1.02% CuEq, within 221.28 metres of 0.68% CuEq, within 527.28 metres of 0.40% CuEq, and including 17.00 meyttres of 2.23% copper with 34.00 metres of 1.28% CuEq within 64.63 metres of 0.78% CuEq.

The five holes drilled to date are continuously mineralized to an approximate average of 900 metres depth, along a strike length of nearly 750 metres. The mineralized zone remains open in all directions. Assays for holes 2, 3, 4, and 5 are pending, and the drilling of hole 6 is about to commence.

A total of seven holes and approximately 5,500 metres will be completed in the 2022 drill program.

NAK is a classic porphyry copper-gold mineralized zone that exhibits many signs of a robust and large-scale system. Historic shallow drilling programs defined a near-surface copper-gold system with a footprint greater than 1.5km x 1.5km that was open and completely untested at depth. The current drill program on NAK was designed to test geophysical targets at a depth based on new interpretations from recent ZTEM, IP, and airborne magnetic surveys.

The NAK property is road accessible, and many target areas coincide with forest industry clear cuts. Drilling can be completed year-round, and no helicopter support is required. The NAK property is 85 km from Smithers, BC, occurs in the Babine copper-gold porphyry district of west-central British Columbia, and is close to nearby Babine district deposits (Bell, Granisle). It is defined by a compelling geophysical signature that has similarities to classic porphyry systems (e.g. close association of airborne magnetic highs with annular IP chargeability highs).


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