American Eagle Gold Corp (TSX-V:AE) has announced that drilling has begun at its flagship Golden Gate property.
The 3,000-metre drill program is designed to intercept lower plate rocks and identify deep alteration and mineralization analogous to Barrick Gold's Goldrush, Fourmile, and Cortez Hills projects next door.
American Eagle Gold noted that its VP of Exploration, Mark Bradley, who designed the drill campaign, has a history of success in the area, leading the team that made the Goldrush discovery just 5 kilometers (km) north.
"Golden Gate is attached to Barrick's Cortez Complex, and our geologist in charge of the exploration program has a proven track record of success in the area. We are excited to begin drilling in our pursuit to discover the next Goldrush or Cortez Hills," said American Eagle CEO Anthony Moreau in a statement.
READ: American Eagle Gold says it is to begin drilling program at its flagship Golden Gate property
The company said it plans to retain its rig at the site and expand its drill campaign upon the results of its drilling and further geophysical work on its more than 7,000-acre property.
American Eagle Gold is focused on exploring its flagship property, Golden Gate. The property is strategically situated on the Cortez Trend, which hosts three large Carlin-type gold deposits operated by Barrick and Newmont's joint venture, Nevada Gold Mines (Pipeline, Cortez Hills and Goldrush).
The property is located 10 km south of Cortez Hills and 5 km south of Goldrush and shows many of the same geological characteristics as at the two deposit areas.
Additionally, American Eagle Gold has optioned the Cerros Rojos Property, located 150 km south of Newmont's Long Canyon mine in Nevada.
Contact the author at jon.hopkins@proactiveinvestors.com