Significant grades and widths continue to be intersected at the Bruce Channel Discovery
Wed Jun 18, 8:31 AM30.20 Metres at 7.58 g/t Gold (0.22 oz/t over 99.09 ft) and
1.50 Metres at 33.75 g/t Gold (0.98 oz/t over 4.92 ft)
TSX: GEA
TORONTO, June 18 /CNW/ - Gold Eagle Mines Ltd. (TSX: GEA.TO) ("Gold Eagle" or the "Company") is pleased to announce the latest series of drill results on the Bruce Channel Discovery ("BCD") at its 100% owned Gold Eagle property located in Red Lake, Ontario. The Gold Eagle property is situated along the prolific Red Lake Trend, west of Goldcorp Inc's operating Red Lake and Campbell Mines and immediately southwest of Goldcorp Inc's past producing Cochenour-Willans Mine.
Highlights:
- Drilling continues to intersect significant grades and widths
- Drilling continues to encounter multiple high grade zones with
visible gold
- The mineralized envelope extends a minimum of 1,100 metres vertically
with a horizontal footprint of approximately 720 metres northeast-
southwest by 450 metres northwest-southeast
- The mineralized envelope remains open in all directions
Highlights of latest drilling:
Hole Number Metres Grams/Tonne Feet Ounces/Ton
(g/t) (oz/t)
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BC 29-5 3.90 17.33 12.80 0.51
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including 1.50 33.75 4.92 0.98
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BC 29-5 10.90 5.86 35.76 0.17
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including 1.00 30.00 3.28 0.87
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BC 29-6 4.80 12.07 15.75 0.35
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including 1.60 24.55 5.25 0.72
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BC 29-6 30.20 7.58 99.09 0.22
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including 2.70 18.05 8.86 0.53
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The BCD is a significant gold structure intersected at approximately 800 metres beneath the shallow Bruce Channel waterway. The mineralized envelope is currently estimated to extend a minimum of 1,100 metres vertically, with a horizontal footprint of approximately 720 metres northeast-southwest and approximately 450 metres northwest-southeast. The BCD mineralized envelope remains open in all directions.
In common with Goldcorp Inc's Red Lake Mine, Campbell Mine and Cochenour-Willans Mine, the BCD lies within the Balmer Assemblage. The structural and mineralogical characteristics are very similar to the aforementioned mines. Gold is found in its native form as well as within sulphide rich zones - particularly those with 'felted' fine grained arsenopyrite. A number of high grade structures have been identified within the BCD mineralized envelope and these structures exhibit horizontal and vertical continuity.
BC 29 Series
The BC 29 Series of holes are testing the open area south of the significant high grade intersections encountered in the BC 19 Series (BC 19-15 and BC 19-16; See press release dated February 13, 2008) which has been named the "Upper Main Zone". The Upper Main Zone is one of a number of high grade gold structures that have so far been intersected within the BCD. In particular, the Upper Main Zone has demonstrated very strong continuity along strike and to depth. The BC 29 Series are collared at the same location as the BC 21, BC 25 and BC 27 Series.
See map, "Drill Plan (BC Series-18Jun08)", on the company website http://www.goldeaglemines.com/_bin/images/maps.cfm
BC 29-5
-------
BC 29-5 was wedged off the mother hole at a depth of 931.40 metres and directed upwards to further test the Upper Main Zone above the interval intersected in BC 29-4 (See press release dated April 14, 2008). The hole was drilled to a final depth of 1,371.00 metres.
The hole intersected mafic volcanics with pervasive biotite and local silica and chlorite alteration from the wedge to a depth of 1,028.50 metres. This was followed by ultramafic rocks, which were variably altered to talc and serpentine to a depth of 1,143.60 metres. A significant zone of carbonate alteration occurred within this interval at 1,116.40 to 1,128.00 metres. Variably altered mafic volcanic rocks were interested to the final depth of 1,371.00 metres and host to several mineralized structures with alteration typified by strong silicification with secondary carbonatization. The mineralization comprised disseminated and fracture filling pyrrhotite and arsenopyrite locally in association with visible gold.
BC 29-5
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Intersection Gold
(in Metres) Length -------------------------
----------------------------------------------- Grams Ounces
per per
From To Metres Feet Tonne Ton
(g/t) (oz/t)
-------------------------------------------------------------------------
1,152.00 1,156.40 4.40 14.44 3.19 0.09
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1,157.80 1,160.60 2.80 9.19 3.18 0.09
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1,163.40 1,171.10 7.70 25.26 5.28 0.15
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including 2.10 6.89 11.67 0.34
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1,206.60 1,208.60 2.00 6.56 8.65 0.25 VG
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including 0.50 1.64 18.45 0.54
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1,213.60 1,217.60 4.00 13.12 4.55 0.13
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1,219.10 1,230.00 10.90 35.76 5.86 0.17 VG
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including 1.00 3.28 30.00 0.87 VG
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1,231.00 1,234.90 3.90 12.80 17.33 0.51 VG
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including 1.50 4.92 33.75 0.98 VG
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1,251.90 1,252.40 0.50 1.64 4.22 0.12
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1,257.90 1,258.40 0.50 1.64 4.03 0.12
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1,268.90 1,269.40 0.50 1.64 3.71 0.11
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1,274.90 1,279.90 5.00 16.41 5.44 0.16
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including 0.60 1.97 25.40 0.74
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1,290.10 1,292.00 1.90 6.23 4.11 0.12 VG
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BC 29-6
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BC 29-6 was wedged off the mother hole at a depth of 1,012.00 metres and directed upwards and north of the trace of BC 29-5. The hole was drilled to a final depth of 1,407.00 metres.
The hole intersected mafic volcanics with pervasive biotite from the wedge to a depth of 1,045.70 metres. This was followed by ultramafic rocks, variably altered to talc, serpentine, and carbonate to a depth of 1,133.50 metres. A shear zone marked the transition into strongly altered and mineralized mafic volcanic rocks which were intersected to a depth of 1,204.70 metres. The alteration comprised pervasive biotite overprinted by zones of extensive silicification and carbonatization locally manifesting breccia textures. Weakly disseminated and fracture filling pyrrhotite and arsenopyrite was ubiquitous with local zones of fine grained acicular arsenopyrite and significant gold mineralization. Shearing marked the transition into a carbonate zone between 1,204.70 and 1,228.42 metres followed by talc altered ultramafic rocks to a depth of 1,269.70 metres. Extensive carbonate between 1,269.70 and 1,281.85 metres was followed by strongly altered and mineralized mafic volcanics between 1,281.85 and 1,293.42 metres. Similar to the mineralized zone above the alteration comprised extensive silica and carbonate overprinting pervasive biotite. Mineralization comprised weakly disseminated and fracture filling pyrrhotite and arsenopyrite and local very finely disseminated visible gold. Less altered mafic volcanic rocks continued to a final depth of 1,407.00 metres, with several mineralized structures associated with silicification noted to 1,335.60 metres.
BC 29-6
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Intersection Gold
(in Metres) Length -------------------------
----------------------------------------------- Grams Ounces
per per
From To Metres Feet Tonne Ton
(g/t) (oz/t)
-------------------------------------------------------------------------
1,150.40 1,155.20 4.80 15.75 12.07 0.35
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including 1.60 5.25 24.55 0.72
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1,156.80 1,187.00 30.20 99.09 7.58 0.22
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including 1.60 5.25 18.28 0.53
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including 2.70 8.86 18.05 0.53
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including 6.30 20.67 10.43 0.30
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1,282.90 1,291.60 8.70 28.54 6.49 0.19 VG
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including 2.00 6.56 18.54 0.54 VG
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1,312.20 1,313.40 1.20 3.94 4.13 0.12
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1,316.20 1,316.50 0.30 0.98 3.68 0.11
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1,327.80 1,335.60 7.80 25.59 3.38 0.10
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including 1.80 5.91 9.04 0.26
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BC 29-7
-------
BC 29-7 was wedged off the mother hole at a depth of 688.60 metres and directed downwards and to the northwest to test the mineralized zones intersected in BC 29-2 and BC 29-3 at greater depth (See press release dated April 14, 2008). It was drilled to a final depth of 1,371.00 metres.
The hole intersected serpentine altered ultramafic rocks from the wedge to a depth of 706.20 metres followed by felsic volcanics to 776.0 metres. A sequence of variably biotite and chlorite altered mafic volcanic rocks followed to a depth of 1,022.70 metres. A narrow shear zone marked the transition into altered ultramafic rocks to a depth of 1,130.00 metres. Alteration comprised serpentine and talc with local carbonate. A shear zone at 1,130.00 to 1,135.00 metres marked the contact into a thick succession of mafic volcanic rocks which were intersected to the final depth of 1,371.00 metres. Alteration comprised pervasive biotite. Zones of silicification associated with quartz veining and disseminated arsenopyrite mineralization were noted at 1,161.00 to 1,176.80 metres and 1,209.50 to 1,213.00 metres. The drill hole appears to have tracked too steeply, passing below the Upper Main Zone.
BC 29-7
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Intersection Gold
(in Metres) Length -------------------------
----------------------------------------------- Grams Ounces
per per
From To Metres Feet Tonne Ton
(g/t) (oz/t)
-------------------------------------------------------------------------
1,209.50 1,210.40 0.90 2.95 5.33 0.16
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BC 29-8
-------
BC 29-8 was wedged off the mother hole at a depth of 596.00 metres. It was directed upwards and southwest to target the mineralized zones encountered in BC 29-5 and BC 29-6 at greater depth and to the southwest. The hole was drilled to a final depth of 1,445.00 metres.
The hole intersected volcanic rocks of the Bruce Channel Assemblage from the wedge to a depth of 654.00 metres. A sequence of chlorite altered mafic volcanic rocks between 654.00 to 662.50 metres marked the transition to the Balmer Assemblage and was followed by ultramafic rocks to 704.00 metres. Variably chloritic mafic volcanics with subordinate ultramafic and felsic rocks were encountered to a depth of 1,036.00 metres. A zone of shearing from 1,036.00 to 1,042.00 metres marked the contact into a sequence of serpentinized ultramafic rocks which were intersected to a depth of 1,148.40 metres. The hole intersected variably altered mafic volcanic rocks to a final depth of 1,445.00 metres. Alteration comprised pervasive biotite. Several mineralized structures associated with silicification, quartz veining and disseminated pyrrhotite and local arsenopyrite and visible gold mineralization were intersected between 1,196.00 and 1,283.30 metres. This hole also appears to have tracked too steeply, passing below the Upper Main Zone.
BC 29-8
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Intersection Gold
(in Metres) Length -------------------------
----------------------------------------------- Grams Ounces
per per
From To Metres Feet Tonne Ton
(g/t) (oz/t)
-------------------------------------------------------------------------
1,196.00 1,196.70 0.70 2.30 9.66 0.28
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1,216.30 1,217.00 0.70 2.30 9.45 0.28 VG
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1,219.10 1,220.50 1.40 4.60 8.43 0.25 VG
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1,236.30 1,237.20 0.90 2.95 8.55 0.25
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1,272.40 1,273.30 0.90 2.95 3.19 0.09
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1,282.70 1,283.30 0.60 1.97 8.26 0.24 VG
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The BC 29 Series of holes are continuing and additional results will be reported as they become available.
BC 31 Series
The BC 31 Series of holes are also planned to test the open area south of the significant high grade intersections in the BC 19 Series of holes (BC 19-15 and BC 19-16; See press release dated February 13th 2008) but at greater depth than the BC 29 Series. The BC 31 Series are collared at the same location as the BC 10, BC 11 and BC 19 Series of holes.
See map, "Drill Plan (BC Series-18Jun08)", on the company website http://www.goldeaglemines.com/_bin/images/maps.cfm
BC 31-2
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BC 31-2 was wedged off the mother hole at a depth of 1,424.00 metres and directed upwards to further test the high grade intersections in BC 31-1 at shallower depth (See press release dated April 14, 2008). The hole was abandoned at a depth of 1,607.00 metres when the core barrel was severed.
The hole intersected variably altered mafic volcanic rocks from the wedge to the final depth of 1,607.00 metres. Alteration comprised pervasive biotite. A number of zones of carbonate alteration with overprinted silicification and quartz veining were noted between 1,566.60 and 1,585.80 metres. Mineralization comprised weakly disseminated pyrrhotite with traces of arsenopyrite and visable gold.
BC 31-2
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Intersection Gold
(in Metres) Length -------------------------
----------------------------------------------- Grams Ounces
per per
From To Metres Feet Tonne Ton
(g/t) (oz/t)
-------------------------------------------------------------------------
1,584.50 1,585.80 1.30 4.27 3.38 0.10 VG
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BC 31-3
-------
BC 31-3 was wedged off the abandoned BC 31-2 hole at a depth of 1,548.60 metres and also directed upwards. The hole was drilled to a final depth of 1,725.00 metres.
The hole intersected weak pervasively biotite altered mafic volcanic rocks from the wedge to a final depth of 1,725.00 metres. The hole appears to have tracked too steeply to intersect the structures associated with the Upper Main Zone at this location. No significant assays were returned from this drill hole.
BC 31-4
-------
BC 31-4 was wedged off the mother hole at a depth of 1,597.50 metres and was directed upwards to further test the mineralized zones at shallower depths. The hole was drilled to a final depth of 1,794.00 metres.
The hole intersected mafic volcanics from the wedge to the final depth of 1,794.00 metres. Alteration comprised pervasive biotite with local zones of carbonate and silica alteration associated with shearing and/or brecciation. A number of mineralized structures were encountered between 1,736.00 and 1,763.00 metres associated with quartz-carbonate veins and weakly disseminated pyrrhotite mineralization.
BC 31-4
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Intersection Gold
(in Metres) Length -------------------------
----------------------------------------------- Grams Ounces
per per
From To Metres Feet Tonne Ton
(g/t) (oz/t)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
1,736.00 1,737.00 1.00 3.28 3.00 0.09
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1,762.00 1,763.00 1.00 3.28 8.76 0.26
-------------------------------------------------------------------------
This marks the completion of the BC 31 Series of drill holes. The drill utilized for these holes has initiated the BC 33 Series at the same location but oriented in a more westerly direction than the BC 31 Series, and inclined less steeply to further test the Upper Main Zone between the BC 19 and BC 31 Series of drill holes.
BCD Step-Out Drilling Program
Both of the 2,500 metre capacity rigs continue the systematic step-out drill program aimed at testing for the continuation of the BCD mineralized envelope in a southwest direction towards the Finn Zone, located approximately 500 horizontal metres away. The drill located on McKenzie Island is in progress with the BC 30 Series and the drill located on the mainland is in progress with the BC 32 Series. The mother holes for BC 30 and BC 32 have been completed and wedge holes are in progress for both series. Results will be disclosed as they become available.
Notes:
- VG - visible gold
- Lengths reported are core intersection lengths and do not represent
true widths
- It is anticipated that true width estimates will be made possible
after additional drilling
- Conversion Method: grams per tonne (g/t) multiplied by 0.0292 equals
troy ounces per short ton (oz/t)
About Gold Eagle
Gold Eagle Mines Ltd is a Canadian based junior natural resource company developing a significant new gold discovery in the prolific Red Lake gold camp, located in Northern Ontario, Canada.
Qualified Persons
The drill program is being carried out under the direction of Mr. Chris Collins, P.Geo and Mr. John F. Whitton, P.Geo, qualified persons within the meaning of National Instrument 43-101. Mr. Collins and Mr. Whitton have reviewed the contents of this news release.
Sample preparation and assay procedures are carried out by ALS Laboratories using standard fire assaying with an AA or gravimetric finish where appropriate. Samples noted to contain Visible Gold when core logging are assayed using a screened metallic's procedure with a gravimetric finish.
Forward-Looking Statement
The statements made in this News Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussion of such risks and other factors, refer to Gold Eagle's filings with Canadian securities regulators available on www.sedar.com or the Company's website at www.goldeaglemines.com
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release and the
information contained herein.
Contactsplease feel free to contact our offices at: Tel: (416) 867-8998
Fax: (416) 867-9393
www.goldeaglemines.com
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