American Eagle Gold (TSXV:AE) Reports Assays of 527 Metres of 0.45% Copper Equivalent from Surface at NAK Project

American Eagle Gold (TSXV:AE) has reported new assay results from its NAK copper-gold porphyry project of significant high-grade surface and depth zones. The results come from the third and fourth holes from the 2022 drill program at the project.

Anthony Moreau, American Eagle’s CEO, commented in a press release: “This fourth drill hole is our best intercept to date and encountered a new higher-grade copper-rich zone 500 metres from our discovery hole. Hole NAK22- 04 ended within a wide high-grade zone but was unfortunately terminated early for technical reasons; however, holes NAK22-06 and – 07 successfully intersected the continuation of the same zone at depth and hit similar mineralization. We anticipate that the pending assays from those two holes will show similar results. Our step-out drilling continues to demonstrate a substantial footprint for this system.”

Highlights from the results are as follows:

• NAK22-04 returned 527 m @ 0.45% copper equivalent (“CuEq”) from surface, including 185 m @ 0.74% CuEq, and ended in high-grade mineralization (88 m @ 0.98% CuEq), representing the best deep intercept to date in the 2022 drill program
• NAK22-04 appears to have intersected a new copper-rich zone at depth, 500 metres north of discovery hole
• NAK22-03 and NAK22-04 are very widely spaced step-out holes from:
  • NAK22-01: 126 m @ 1.05% CuEq from surface within 851 m @ 0.37% CuEq
  • NAK22-02: 301 m @ 0.61% CuEq from surface within 956 m @ 0.37% CuEq
• Footprint is 1.5 km X 1.5 km and 1 km deep and is open in all directions
  • Large bulk tonnage potential with high-grade surface and depth zones developing
  • All holes show widespread mineralization, including high-grade zones
• Assays for holes NAK22-05, -06 & -07 are pending

Highlights of NAK’s 2022 Drill Program:

• NAK22-01 returned 851 m of 0.37% CuEq, including 126 metres of 1.05% CuEq from surface
• NAK22-02 returned 956 m of 0.37% CuEq, including 301 metres of 0.61% CuEq from surface
• NAK22-03 returned 906 m of 0.21% CuEq from surface, including 645 metres of 0.24% CuEq
• NAK22-04 returned 527 m of 0.45% CuEq from surface, including 89 metres of 0.98% CuEq

NAK22-04 Assay Results: Table 1

*Copper Equivalent (CuEq) % calculated using copper and gold length weighted assay results, with commodity prices assumed at Cu = 3.50 USD/lb, Au = 1700 USD/oz, Ag = 20 USD/oz, and Mo = 21 USD/lb. CuEq grade, including copper, gold, silver, and molybdenum based on 100% recoveries, is calculated using the following equation: CuEq. = Cu % + (Au grade in g/t x [Au price ÷ 31] / [Cu price x 2200]) + (Ag grade in g/t x [Ag price ÷ 31] / [Cu price x 2200] + (Mo grade in % x [Mo price x 2200] / [Cu price x 2200]). The assays have not been capped.

NAK22-03 Assay Results: Table 2

Collar details for holes drilled in the 2022 drill program: Table 3

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

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