Latest results include 4.50 Metres at 13.13 g/t Gold (0.38 oz/t over
14.76 ft) and 0.30 Metres at 225 g/t Gold (6.56 oz/t over 0.98 ft)
TSX: GEA
TORONTO, July 16 /CNW/ - Gold Eagle Mines Ltd. (TSX: GEA) ("Gold Eagle"
or the "Company") is pleased to announce the latest series of drill results on
the Bruce Channel Discovery ("BCD") at its 100% owned Gold Eagle property
located in Red Lake, Ontario. The Gold Eagle property is situated along the
prolific Red Lake Trend, west of Goldcorp Inc's operating Red Lake and
Campbell Mines and immediately southwest of Goldcorp Inc's past producing
Cochenour-Willans Mine.
Highlights:
- Step-out drilling expands the BCD mineralized envelope by
approximately 80 metres to the southwest and by approximately
350 metres vertically
- The mineralized envelope extends a minimum of 1,450 metres vertically
with horizontal dimensions of approximately 800 metres northeast-
southwest and by 450 metres northwest-southeast
- The mineralized envelope remains open in all directions
- Drilling continues to intersect significant multiple high grade zones
with visible gold
Highlights of latest drilling:
Hole Number Metres Grams/Tonne Feet Ounces/Ton
(g/t) (oz/t)
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BC 30-1 0.30 225.00 0.98 6.56
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BC 30-1 4.20 7.19 13.78 0.21
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including 0.85 23.50 2.79 0.69
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BC 30-1 0.70 41.30 2.30 1.20
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BC 30-2 6.00 6.88 19.69 0.20
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including 2.70 12.57 8.86 0.37
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BC 30-3 4.50 13.13 14.76 0.38
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including 0.70 60.87 2.30 1.78
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BC 30-3 0.30 122.00 0.98 3.56
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BC 30-3 0.30 55.10 0.98 1.60
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BC 33-1 0.55 63.18 1.80 1.84
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BC 33-1 1.65 28.71 5.41 0.83
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including 0.75 54.83 2.46 1.60
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The BCD is a significant gold structure intersected at approximately
800 metres beneath the shallow Bruce Channel waterway. The mineralized
envelope is currently estimated to extend a minimum of 1,450 metres
vertically, with a horizontal footprint of approximately 800 metres
northeast-southwest and approximately 450 metres northwest-southeast. The BCD
mineralized envelope remains open in all directions.
In common with Goldcorp Inc's Red Lake Mine, Campbell Mine and
Cochenour-Willans Mine, the BCD lies within the Balmer Assemblage. The
structural and mineralogical characteristics are very similar to the
aforementioned mines. Gold is found in both its native form as well as within
sulphide rich zones - particularly those with 'felted' fine grained
arsenopyrite. A number of high grade structures have been identified within
the BCD mineralized envelope and these structures exhibit horizontal and
vertical continuity.
BC 30 Series
The BC 30 Series of drill holes are intended to test for a continuation
of the BCD mineralized envelope in a southwest direction towards the Finn
Zone. These holes were collared on McKenzie Island and are being directed
eastwards across the Bruce Channel towards the mainland.
See map, "Drill Plan (BC Series-16Jul08)", on the company website
BC 30-1
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BC 30-1 is the mother hole for the BC 30 step-out series and was drilled
to a final depth of 2,409.90 metres. The drill hole intersected granodiorite,
quartz diorite and augite diorite phases of the McKenzie Island Stock to a
depth of 1,500.99 metres. Several narrow zones of quartz veining enveloped by
sericitic alteration and associated with gold mineralization were encountered
within the intrusive stock.
Meta-sedimentary rocks of the Bruce Channel Assemblage were intersected
between 1,500.99 and 1,717.30 metres, with lithologies comprising greywacke,
siltstone and sandstone. A quartz diorite between 1,717.30 and 1,771.00 metres
marked the transition from the Bruce Channel Assemblage to rocks of the Balmer
Assemblage which were intersected to a final depth of 2,409.90 metres.
The Balmer Assemblage lithologies comprised mafic volcanic and
sedimentary rocks, with minor felsic volcanics to a depth of 1,960.00 metres.
Ubiquitous garnet, biotite, and chlorite alteration characterized this
interval. At 1,825.80 metres to 1,834.00 metres alteration comprising
silicification as quartz veins and sericite was associated with sulphide
mineralization including disseminated pyrrhotite, pyrite, and fine felted
arsenopyrite with local visible gold. Variolitic mafic flows with pervasive
biotite alteration were intersected between 1,960.00 and 2,188.00 metres.
A zone of carbonate followed by silicification and brecciation between
2,188.00 and 2,196.40 metres is similar in appearance to zones seen in the
area of the "Upper Main Zone" located to the northeast within the BCD.
Below this to a final depth of 2,409.90 metres, biotite altered mafic
volcanics with intercalations of chert-magnetite iron formation were noted.
Gold mineralization occurs within sheared and brecciated zones associated with
quartz veining and disseminated pyrrhotite and arsenopyrite mineralization
within the iron formations.
This drill hole was oriented more steeply than the previous mother holes
to allow for more optimum flattening of the ensuing wedge holes.
