- 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
Management Commentary:
Mr.
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
The Hot Springs Property:
The Hot Springs Property is a joint venture between the Company and
On
The technical information in this news release has been reviewed and approved for disclosure by
About
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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.
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