American Eagle Gold (TSXV: AE) this morning reported positive drill results at its NAK copper-gold porphyry project in British Columbia. The company has indicated that the results include the best hole drilled to date on the project.
Highlights from the results include:
- NAK23-10: 830 metres of 0.36% copper equivalent, including 359 metres of 0.43% copper equivalent
- NAK23-11: 473 metres of 0.62% copper equivalent, including 214 metres of 0.91% copper equivalent, including 102 metres of 1.04% copper equivalent
The results are said to reflect that the size and tenor of the NAK South Zone are increasing, while confirming that the mineralized zone has significant widths and higher grades to the north. American Eagle has indicated it believes that the mineralizing system has “considerable scale and the potential for substantial growth in size and grade.”
“We’ve seen significant grade improvement in our drilling at NAK. Our discovery hole in 2022 had 0.37% CuEq, followed by 0.5% in our first hole this year. In our latest drill hole, NAK23-11, we intercepted over 0.6% across nearly 500 metres,” commented CEO Anthony Moreau.
Assays for three additional holes meanwhile are pending, while current drilling is focused on a 110 metre step-out to the south within the South Zone, and a 150 metre step-out to the west, targeting further copper-gold mineralization. Several additional holes are said to be planned for the season.
American Eagle Gold last traded at $0.28 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
