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- Identified significant structures over majority of property. Historically such structures are known to host gold mineralization in Nevada
- Completed five core drill holes
- Two holes drilled into identified structures to test for new gold mineralization throughout all horizons from surface
- Three holes drilled to extend gold mineraliztion at depth
- Brecciation is consistent with epithermal gold mineralization. Company observed significant brecciation and sulfide mineralization in drill core
- Drill results currently being processed in the lab and results anticipated in due course
- Additional drilling planned based on outcome of initial program
Bald Eagle Gold Corp. ("Bald Eagle" or the "Company") (TSXV: BIG) is pleased to announce the completion of the fieldwork portion of the current drill program at its Hot Springs Joint Venture in Nevada (the "Property"). Five core holes have been drilled to vertical depths averaging over 300 metres. Four of the holes were drilled to twin historic drill-holes and investigate mineralization below the previously drilled depth of 200 metres. The program holes were planned significantly deeper than historic drilling with the objective of advancing an epithermal mineralization model and establishing correlation between mineralization and geophysical defined anomalies and structures identified in the prior exploration programs.
Management Commentary:
Mr. Sidney Himmel , President, CEO and Director of the Company, "With the field drill program completed, the Company expects initial analytical results to be received in the coming weeks. Additional results will become available in succession. This project is located at the junction of the prolific Getchell-Comstock Gold Trend and the northwestern Nevada Epithermal Province. Field work and logging to date has been entirely consistent with our expectations regarding the Hot Springs Property. The significant alteration and brecciation observed during core logging is common with epithermal gold models in Nevada . Sample QA/QC has been vigorously implemented. Current laboratory analysis will include gold and silver content by fire-assay methods, along with a multi-element package which includes epithermal mineralization indicator elements such as arsenic and antimony."
Exploration Program Update:
During the fourth quarter of 2020, a geophysics program was conducted, and consisted of six lines spanning four kilometres of Controlled Source Audio-frequency Magneto-tellurics (" CSAMT ") at 100 metre spacings and three lines spanning four kilometres of Induced Polarization ("IP") at 100 metre spacings. The program was able to define specific structural features in the Harmony Formation with promising physical characteristics for epithermal gold deposition. The Harmony Formation is a key mineralization target for drilling. Promising stratigraphic horizons were identified during the program including epithermal-type alteration and brecciation.
Preliminary interpretations from core logging indicate that the elevated IP chargeability response represents sulphide mineralization, which is consistent with the objective of the geophysics program completed. Zones of brecciation and comb-quartz/sulphide vein systems were observed with the elevated sulphide content. This type of mineralization is encouraging since epithermal gold mineralization in Nevada commonly occurs within sulphides. The alteration observed during the program consisted argillic alteration, silicification, quartz-sericite-pyrite, veining, and other related alteration.
The Hot Springs Property:
The Hot Springs Property is a joint venture between the Company and Osgood Mountain Gold LLC. The Property consists of approximately 11,894 acres comprised of private mineral rights and unpatented federal lode mining federal claims. This location in north-central Nevada is located at the junction of the prolific Getchell Gold Trend and the northwestern Nevada Epithermal Province. Land Position is situated approximately 25 miles West of the Twin Creeks, Getchell and Pinson Mines and 30 miles East of the Sleeper Mine.
On March 5, 2021 , the Company filed an NI-43-101 report on the Property, entitled "NI 43-101 Technical Report, Hot Springs Gold Project, Humboldt County, Nevada ". A set of Historical data exists for 8,175 meters of drilling across 91 drill holes. The historic drill programs outlined a near surface zone of gold mineralization in an area with dimensions of approximately 1,200 metres by 400 metres. This area is known as the Dutch Flats Shear Zone.
The technical information in this news release has been reviewed and approved for disclosure by Mark T. Smethurst , P.Geo., Senior Geologist for Bald Eagle Gold Corp. and a "qualified person" within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of advanced exploration assets in known gold districts in the Americas. The Company will acquire advanced exploration projects for advanced exploration and development. The Company will, through evaluating historical data and utilizing modern exploration techniques and geological concepts to enhance resources. The management team and board of directors of the Company have an established track record of creating significant returns for investors and demonstrated access to capital to advance the development of assets.
CAUTIONARY NOTES
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.
Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information in this press release may include, without limitation, the future operating or financial performance of Bald Eagle, the estimates of potential quantity, grade, and metal and mineral content at the Property, Bald Eagles's assessment of the reliability and relevance of the historical drill results; the ability of the joint venture to operate the exploration and development programs for the Property, and the anticipated timing of the second phase exploration work.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Wolf, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although Bald Eagle has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Bald Eagle does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE Bald Eagle Gold Corp.
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