American Eagle Gold Corp (TSX-V:AE) told investors that assay results from the second hole of the 2022 program on its NAK copper-gold porphyry project in west-central British Columbia’s Babine district add “additional confidence” to its maiden discovery drill hole.
The Toronto-based company said all seven holes drilled on NAK intersected broad porphyry-style mineralization intervals from surface to end-of-hole, with assays pending on holes 03 to 07. NAK22-02 showed mineralization through the entire length of the hole and extending the known system laterally and at depth, returning 956 metres (m) of 0.37% copper equivalent (CuEq), including 301m of 0.61% CuEq from surface, it added.
“The distribution of mineralization in NAK22-02 relative to that in NAK22-01 also improves our understanding of the geometry and size potential of our higher grade zones, both near surface and at depth,” CEO Anthony Moreau said in a statement.
READ: American Eagle intersects broad, high-grade mineralization from surface in first hole in NAK project in Babine copper-gold district
Highlights include:
- Drill Hole NAK22-02 intersected 956m of 0.37% CuEq, including 301m of 0.61% CuEq from surface, and ending within 150m of 0.60% CuEq, from 834m to 984m;
- NAK22-02 is a follow-up from NAK22-01's 851m of 0.37% CuEq;
- All seven holes drilled have displayed widespread mineralization throughout, with six holes terminating in mineralization and one hole in progress;
- Assays for holes NAK22-03 to 07 are pending;
- System footprint over 1.5 kilometres (km) x 1.5 km X 1 km depth and is open in all directions.
The company noted that drillhole NAK22-02 returned strong copper-gold grades from surface to 300m, along with a higher grade copper zone at depth.
The upper zone is hosted by chalcopyrite-mineralized andesitic volcanic rocks, while the lower copper zone is characterized by bornite-chalcopyrite mineralized granodioritic intrusive rocks.
Below 800m, two intersections of plagioclase porphyry dykes, up to 20m wide, and with increased bornite-chalcopyrite quartz vein densities, returned grades as high as 2.81 copper.
Also of note is a 1m intercept, from 238m to 239m, of a chalcopyrite-quartz vein-breccia displaying epithermal textures. It returned 20.4 g/t Au and 1.95% Cu (16.36 CuEq %).
Throughout NAK22-02, the company said trace molybdenite is commonly present along fracture planes, and occurs as sporadic flecks within mineralized quartz veins. The molybdenum concentrations are significant and contribute positively to the overall copper equivalent calculations, it added.
American Eagle said its technical team has determined that the concentration of molybdenum at NAK is significant enough to materially affect the overall copper equivalent grade of the assayed holes. As a result, it said it will now report molybdenum and has updated and slightly improved the results for hole NAK22-01.
“The assays also validate our visual interpretations of the tenor of mineralization and correlate well with our on-site XRF results," Moreau added. "We anticipate being able to deliver additional great results from this ongoing drill program.”
Contact the author at stephen.gunnion@proactiveinvestors.com