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Bald Eagle Gold Corp., (" Bald Eagle " or the " Company ") (TSXV: BIG) (OTCQB: BADEF) is pleased to report that it has completed an extensive historical data compilation for the Company's recently acquired Hercules Silver Property located in the Heath Mining District of Washington County, Idaho USA (" Hercules ", or the " Property "). The historical data comprises IP geophysics, soil geochemistry, geological mapping, and 301 holes drilled on the Property from the period 1965 to 1988. The data was scanned from physical drill logs, maps and reports which were held in storage for over 30 years by the Hercules' former project geologist. The scanned information has been imported into a digital database where all of the exploration data on the Property is now stored. Compilation maps have been produced from the data, which are featured in the full news release available on the Company's website and the newly updated corporate presentation, both of which are available for download at the following links:
View News Release with Figures:
View New Corporate Presentation:
https://baldeaglegold.com/s/BIG-corporate-presentation.pdf
Historical Drilling Data
The geological information as well as the silver, lead and zinc analyses for 301 drill holes on the Property was digitized from paper logs into an Excel spreadsheet format. The Company has also engaged Goldspot Discoveries Corp. to utilize the historical drill data to develop a 3D model of the geology and mineralization on the Property, with a specific focus on the mineralization within two historical resource areas at the Hercules Adit and the Fishpond Zones. The historical geophysical and surface geochemical information will also be incorporated into the model and used in the planning of the Company's 2022 drill program on the Property.
IP Geophysical Data
Two historical IP geophysical surveys were conducted on the Property, one of which was not followed up with drilling. The chargeability data shows a good correlation with the known mineralization at the Fishpond and Hercules Adit zones and suggests a good degree of continuity within undrilled regions between the mineralized zones. The strongest chargeability anomaly occurs in an untested area between the Hercules Ridge and Grade Creek zones, an area that also exhibits the strongest silver-in-soil anomaly on the Property.
Soil Geochemistry Data
Silver, lead, zinc and copper data was digitized from two historical soil geochemical surveys conducted over the known zones of mineralization. The results demonstrate a very high background concentration of silver within the host Hercules Rhyolite unit, with individual values of up to 605 g/t Ag (17.6 oz/t) in soil. A strong copper anomaly of over 1,000 ppm copper also occurs over the Hercules Ridge-Grade Creek target area, suggesting the potential for nearby porphyry copper mineralization.
Historical Mapping
Several iterations of geological mapping were conducted during the 1960's through to the 1980's period. The Company has digitized all of the historical mapping efforts and plans to use the historical information to help guide a 2022 mapping program, focused on defining the extent of the mineralized Hercules Rhyolite unit.
Management Commentary
Chris Paul , CEO and Director of Bald Eagle, commented: "We are excited to have completed the extensive historical data compilation on the Hercules project, and recovered nearly all of the exploration data ever collected on the Property. The replacement cost of the numerous mapping, geophysical and geochemical and drilling programs on the Property is estimated to be on the order of several tens of millions of dollars. When factored into the total acquisition cost of less than half a million dollars for a 100% interest in the project, we consider this compilation to be a very significant development, as we look forward to continuing to firm up our drill plan for 2022."
Qualified Person
The scientific and technical information in this news release has been reviewed and approved for disclosure by Donald E. Cameron, MSc, a Registered Member of the Society for Mining. Metallurgy and Exploration, Inc., a QP Member of the Mining & Metallurgical Society of America and an independent "Qualified Person" for Bald Eagle within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). To the best of his knowledge, the technical information pertaining to the Hercules Silver Property, and discussion of it as disclosed in this news release is neither inaccurate nor misleading; however, the technical information presented in this news release was collected prior to enactment of NI 43-101 and comprises paper records maintained by various companies that conducted exploration work on the Property. Details of the sampling methods, security, assaying, and quality control methods used in the generation of this historical technical data are unknown to Bald Eagle Gold Corp., and the results discussed herein cannot be, and have not been verified by Mr. Cameron for the purposes of National Instrument 43-101, and should not be relied upon.
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of the Hercules Silver Project, northwest of Cambridge, Idaho . The Company's management team brings extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored precious metals properties worldwide. The board of directors have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States . Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act ") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws of an exemption from such registration is available.
Disclaimer for Forward-Looking Information
This news release contains certain information that may be deemed "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company's expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company's public disclosure documents filed on the SEDAR website at www.sedar.com .
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF BALD EAGLE AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE BALD EAGLE MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE Bald Eagle Gold Corp.
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