Eagle Hill Exploration (TSXV:EAG) reported highlights on the Company’s activities in 2012 and first quarter of 2013, and outlined plans for the Windfall Lake Property.
As quoted in the press release:
The Company’s focus over the next year will be to increase the quality of the gold resource from inferred to indicated through systematic definition drilling and to continue with exploratory drilling efforts both below and to the southwest of our current gold resource in an effort to further expand the size of this gold deposit. The objective of this drilling is to increase gold ounces in the indicated category so they can be converted into reserves. While expanding the mineral resource, Eagle Hill will work towards completing a bankable Feasibility Study (the “FS”), with an estimated completion time of 30 months from today.
Summary of Eagle Hill’s Activities in 2012 and first quarter of 2013
Eagle Hill completed a total of 46,543 meters of drilling in 159 drill holes during this period and obtained significant positive results, while expanding the size of the mineral resource and improving its quality.
In July of 2012, the Company received its second mineral resource estimate for the Windfall Lake gold project, the results of which are displayed in the table below:
The Company completed an 84 line-kilometer IP survey in two grids to follow up on till anomalies detected in the northeast and the central west part of the Property. Over 182 anomalies were detected of which 19 are considered as suitable targets for follow-up drilling.