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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….
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
| From (m) | To (m) | Length (m) | Au (g/t) | Cu (%) | Ag (g/t) | Mo (ppm) | Cu Eq % |
| 20.28 | 548 | 527.72 | 0.11 | 0.32% | 1.55 | 63 | 0.45% |
| Including | |||||||
| 20.28 | 166.59 | 146.31 | 0.07 | 0.44 | 1.4 | 27 | 0.51% |
| And Including | |||||||
| 439.2 | 528.0 | 88.8 | 0.27 | 0.69% | 4.5 | 98 | 0.98% |
| Within | |||||||
| 363.0 | 548.0 | 185.0 | 0.23 | 0.49% | 2.8 | 91 | 0.74% |
*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
| From (m) | To (m) | Length (m) | Au (g/t) | Cu (%) | Ag (g/t) | Mo (ppm) | Cu Eq % |
| 35 | 941 | 906 | 0.06 | 0.14% | 0.87 | 38 | 0.21% |
| Including | |||||||
| 296 | 941 | 645 | 0.07 | 0.17% | 1.1 | 32 | 0.24% |
| Within | |||||||
| 296 | 433.77 | 137.77 | 0.11 | 0.20% | 0.84 | 36 | 0.30% |
| And Including | |||||||
| 502.67 | 672 | 169.33 | 0.10 | 0.20% | 1.2 | 38 | 0.30% |
| Within | |||||||
| 502.67 | 941 | 438.33 | 0.06 | 0.17% | 1.3 | 33 | 0.24% |
Collar details for holes drilled in the 2022 drill program: Table 3
| Hole | UTM_Grid | UTM_East | UTM_North | Azimuth | Dip |
| NAK22-01 | NAD83_Z9 | 675281 | 6129359 | n/a | -90 |
| NAK22-02 | NAD83_Z9 | 675281 | 6129359 | 340 | -70 |
| NAK22-03 | NAD83_Z9 | 675201 | 6129658 | n/a | -90 |
| NAK22-04 | NAD83_Z9 | 675181 | 6129862 | n/a | -90 |
| NAK22-05 | NAD83_Z9 | 675105 | 6130067 | n/a | -90 |
| NAK22-06 | NAD83_Z9 | 675376 | 6129782 | 260 | -77 |
| NAK22-07 | NAD83_Z9 | 675181 | 6129862 | 170 | -81 |
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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