Eagle Hill Exploration Corporation (TSX VENTURE:EAG) has announced that it has received assay results from an additional two drill holes from the Company's ongoing 10,000 meter drill program.
In addition to expanding existing gold zones, the assay results from this program have allowed the Company to identify a new high grade gold zone, named the Mallard Zone, on the Windfall Lake Property (the "Windfall Lake Property" or the "Property").
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. In addition, this hole extended the Mink Zone closer to surface. The Mink Zone has a dip extension of 200 meters on this section. This intercept is located approximately 100 meters to the southwest of the intercept in hole EAG-10-245 (3.27 g/t over 8.15 meters).
Additionally, the Company has received results from hole EAG-10-247 and it returned an interval of 2.70 g/t Au over 5 meters from the Caribou Zone at a vertical depth of 200 meters below the surface and below the fault. The intersection confirms the continuity of the Caribou Zone to the southwest where it remains open at depth.
Eagle Hill is in the middle of a 10,000 meter drill program and has over 3,900 meters of drilling completed so far. Assay results for additional holes are pending and will be released when available.
The true widths are approximately 70% of reported width.
In other business, Eagle Hill is pleased to announce that it has received 8,191,720 shares of Yankee Hat Minerals Ltd. to settle an outstanding debt and has issued 450,000 options to two consultants at an exercise price of $0.30 per share, expiring on February 23, 2013.
Eagle Hill would also like to announce that it is a sponsor of the 2011 Prospectors and Developers Association of Canada convention and would invite all shareholders and interested parties to visit our display and meet the Eagle Hill team members at the Delegates Lounge on the 700 Level of the Metro Toronto Convention Centre.
Gold analyses reported in this release were performed by standard fire assay using a 30 gram charge with atomic absorption finish and a gravimetric finish for assays greater than 10 grams per ton. Assays returning results over 1 ounce per ton of gold by atomic absorption are re-assayed using the metallic sieve method. All assays were performed by ALS Chemex Laboratory Group, in Val d'Or, Quebec. Sampling and analytical procedures are subject to a comprehensive quality assurance and quality control program. The QA-QC program, includes duplicate samples, blanks and analytical standards.
Jean-Philippe Desrochers, Ph.D., P.Geo. is a Qualified Person registered in Quebec as defined by NI-43-101 and has reviewed the technical information that this press release contains.
Windfall Lake Property
The Windfall Lake Property is comprised of 362 contiguous claims (over 12,000 hectares) in the Abitibi mineralized belt of northern Quebec. This area between Val d'Or and Chibougamau is known for its gold and copper production and excellent infrastructure for exploration and mining. Historically, the Windfall Lake Property has had extensive historic grassroots exploration work. Along with its independently acquired claims at the Windfall Lake Property. Eagle Hill has signed options with Murgor Resources Inc., Cliffs Natural Resources Inc. (formerly, Freewest Resources Canada Inc.), and Noront Resources Inc. to acquire the Windfall Lake Property.
Source: Eagle Hill Exploration Corporation