Early reports indicate that operations are proceeding smoothly, and that drilling has encountered chalcopyrite, bornite, and molybdenite mineralization consistent with nearby holes drilled previously.
Update on Drilling: NAK24-18 has surpassed 750 metres and still drilling. It was collared 100 m north of NAK23-17, with the goal of testing favourable geology and its related geophysical expression in the area west of the Babine porphyry stock.
NAK24-19, being drilled by the new rig, aims to test the near surface gold-rich mineralization encountered at the historical
NAK24-20, which will be drilled by the first rig, is planned to collar 100 m to the north of NAK24-18, and will continue to test the area being tested by that hole, with the aim of tracking the 'IP shoulder' (a moderate chargeability response) which links the historical North and South zones at NAK.
Location of NAK 24-18, -19 & -20
American Eagle is anticipating receiving the final merged inversion modeling of its geophysical data. The Company recently completed further IP surveying across five lines, and is merging and modeling that data along with the three lines it completed late in the 2023, and with historical data collected by previous operators. Preliminary inversion modelling of that data, along with the results of the Company's 2022 and 2023 drilling, has been used to guide the placement of this season's drill collars.
Details of NAK's 2024 Drill Program:
The 2024 drill program integrates the Company's growing understanding of the relationship between the emplacement of multi-phase Eocene dikes and sills with reactive and permeable host rocks to form the extensive Nak mineralized system. The Company is developing models for geology, mineralization, alteration, and structure for the system, which will form the basis for its ongoing planning. The expanded 2024 drill program, currently planned for 15,000 metres, will aim to link, better define, and expand upon the historical North and South zones, which the Company showed in its 2022 and 2023 drill programs to extend to considerable depths (close to 950 m below surface) along a strike length of 750 m and across a width of 400 m. Intercepts from 2023 include 900 m of 0.50% Copper Equivalent from surface in the North zone (Link to NAK23-12 News Release) and 302 metres of 1.09% Copper Equivalent within 606 m of 0.74% Copper Equivalent starting from 98 metres downhole in the
About American
QA/QC and Sampling Protocol
Sampling at NAK follows a rigorous methodology and internal QA/QC protocol. Drill core is halved on site, and samples are submitted to ALS Geochemistry in
Internal QA/QC protocols dictate that individual core samples are no less than 70 cm, and no greater than 3 m in length. To control standard, blank sample, and duplicate frequency, and to better constrain pass/fail re-analysis intervals, samples are submitted to the lab in 50 sample batches. Within each 50-sample batch, there is one gold-copper standard and two coarse reject duplicates, inserted at regular intervals, and two blank samples inserted sequentially, following mineralization where possible, for a total of 10% QA/QC samples. All gold and copper standard analyses from the 2023 program passed within 2 standard deviations of expected values. Where duplicate values differed significantly, the lower values from the resulting re-analyses were used.
About
American Eagle is focused on exploring its NAK copper-gold porphyry project in west-central
Contact:
Chief Executive Officer
Tel: 416.644.1567
Email: amoreau@oregroup.ca
Forward-Looking Statements
Certain information in this press release may contain forward-looking statements. Forward-Looking statements in this press release include, but are not limited to, statements regarding whether the Company will be able to complete the Offering as anticipated, the receipt of regulatory approval, including the approval of the
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