Hot Springs Joint Venture Completes Drilling
TORONTO - Bald Eagle Gold Corp. announced the completion of the fieldwork portion of the current drill program at its Hot Springs Joint Venture in Nevada. Five core holes have been drilled to vertical depths averaging over 300 meters. Four of the holes were drilled to twin historic drill-holes and investigate mineralization below the previously drilled depth of 200 meters. The program holes were planned significantly deeper than historic drilling with the objective of advancing an epithermal mineralization model and establishing correlation between mineralization and geophysical defined anomalies and structures identified in the prior exploration programs.
Sidney Himmel, President, CEO and Director, said, "With the field drill program completed, the Company expects initial analytical results to be received in the coming weeks. Additional results will become available in succession. This project is located at the junction of the prolific Getchell-Comstock Gold Trend and the northwestern Nevada Epithermal Province. Field work and logging to date has been entirely consistent with our expectations regarding the Hot Springs Property. The significant alteration and brecciation observed during core logging is common with epithermal gold models in Nevada. Sample QA/QC has been vigorously implemented. Current laboratory analysis will include gold and silver content by fire-assay methods, along with a multi-element package which includes epithermal mineralization indicator elements such as arsenic and antimony."
During the fourth quarter of 2020, a geophysics program was conducted, and consisted of six lines spanning four kilometers of Controlled Source Audio-frequency Magneto-tellurics ("CSAMT") at 100 meter spacings and three lines spanning four kilometers of Induced Polarization ("IP") at 100 meter spacings. The program was able to define specific structural features in the Harmony Formation with promising physical characteristics for epithermal gold deposition. The Harmony Formation is a key mineralization target for drilling. Promising stratigraphic horizons were identified during the program including epithermal-type alteration and brecciation.
Preliminary interpretations from core logging indicate that the elevated IP chargeability response represents sulphide mineralization, which is consistent with the objective of the geophysics program completed. Zones of brecciation and comb-quartz/sulphide vein systems were observed with the elevated sulphide content. This type of mineralization is encouraging since epithermal gold mineralization in Nevada commonly occurs within sulphides. The alteration observed during the program consisted argillic alteration, silicification, quartz-sericite-pyrite, veining, and other related alteration.