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Eagle Hill Exploration Corporation Announces Positive Assay Results from Drill Program at Windfall Lake Property

Strategic Insights

— 1 min read

Eagle Hill Exploration Corporation has announced significant positive assay results from its ongoing 10,000 meter drill program at the Windfall Lake Property in Quebec, Canada. The results have identified a new high-grade gold zone, named the Mallard Zone, and expanded existing gold zones, including the Caribou Zone and the Mink Zone. The company has also received 8,191,720 shares of Yankee Hat Minerals Ltd. to settle an outstanding debt and has issued 450,000 options to two consultants.

Key Takeaways:

  • The drill program has identified a new high-grade gold zone, the Mallard Zone, and expanded existing gold zones, including the Caribou Zone and the Mink Zone.
  • Hole EAG-11-252 found additional high-grade gold near the surface with 26.89 g/t over 4.00 meters and 1.00 meter of 43.90 g/t in a fault zone that may be an extension of the Caribou Zone.
  • The Mink Zone has a dip extension of 200 meters on this section and is approximately 100 meters to the southwest of the intercept in hole EAG-10-245, which reported 3.27 g/t over 8.15 meters.
  • The Company has completed over 3,900 meters of drilling as part of its 10,000 meter drill program and assay results for additional holes are pending.
  • The Windfall Lake Property is comprised of 362 contiguous claims (over 12,000 hectares) in the Abitibi mineralized belt of northern Quebec.
  • Eagle Hill has signed options with Murgor Resources Inc., Cliffs Natural Resources Inc., and Noront Resources Inc. to acquire the Windfall Lake Property.

Statistics:

  • 26.89 g/t Au over 4.00 m in hole EAG-11-252
  • 43.90 g/t Au over 1.00 m in hole EAG-11-252
  • 2.70 g/t Au over 5 m in hole EAG-10-247 at a vertical depth of 200 m below the surface and below the fault
  • 3,900 m of drilling completed as part of the 10,000 m drill program
  • 8,191,720 shares received to settle an outstanding debt with Yankee Hat Minerals Ltd.

Sources:

  • Eagle Hill Exploration Corporation (Press Release, February 28, 2011)
  • Marketwire (February 28, 2011)

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