On July 5, 2011 Eagle Hill Exploration Corporation (TSXV: EAG)(Frankfurt: EHO) provided an update on its work on the Windfall Lake Gold Project. The update focused on major milestones achieved during last 2 years and the future exploration and development plan.
Access Eagle Hill Exploration research reports, the CEO Video interview, news and commentaries on their Investor Hub HERE
The corporate update highlights significant advancement made by the company related to its exploration and development program at the Windfall Lake Property. The company recently completed a 10,000 metres plus drill program at the Windfall Lake project. The drill results from the first 8 holes were very encouraging. These results confirmed the extension of the Caribou Zone to the east and the west and expanded Zone 27 further to the east while continuing to prove out the continuity of the gold mineralization on the Windfall Lake Property.
The company announced yesterday that the drill results from the remaining 3,500 metres of drilling will be available over the next few weeks
Eagle Hill has als developed a very good understanding of the geology on the Windfall Lake project based on the drilling done to date. This has allowed the technical team of the company to understand the structure better that hosts the mineralized gold zones. This is evident from the fact that they have also been able to achieve success by extending known zones of mineralization and by finding new mineralized zones.
Encouraged by the success of the drilling program and its enhanced knowledge of the project, the company has commissioned an additional drilling program totalling 6,300 metres during 2011. This drilling program is currently underway and expected to be completed during this month. The company is already expecting drill results from this program to start to arrive in coming weeks.
A key development announced by the company is its stated objective to publish a NI 43-101 resource estimate for the Windfall Lake project. The company has already hired SRK Consulting, a reputable firm, to produce an initial gold resource estimate. SRK has done the preliminary work and reviewed the company’s historical information and recent drill programs. We believe that the company is on track to deliver that most likely by end of September.
Eagle Hill’s Windfall Lake project in Quebec is located in the prolific Abitibi Greenstone Belt in Quebec. The Windfall Lake Property is comprised of over 36 contiguous claims (over 12,000 hectares) and is situated along a 300-kilometre regional fault zone that has produced over 100 million ounces of gold in the past 100 years.
Eagle Hill has made considerable progress on this highly prospective property since it consolidated ownership. Since acquiring the property, Eagle Hill has been successfully pursuing a deliberate strategy to improve the understanding of the geology by developing the first 3D Gemcom model based on additional essaying of the core from earlier drill programs and the new 2010 drill results. This has lead the company to identify 6 distinct mineralized gold zones with a 600x600 meter area with most gold zones open in several directions.
Given the consistent evidence of near surface mineralization seen and the identification of multiple mineralized zones at the property leads us to believe that the company’s geological interpretation and modelling work is being successful. This bodes well for rapid development of the project. We believe that the company is now ever closer to fulfilling its key objective of establishing a significant NI 43 101 compliant resource estimate on the property. Once that is done, we expect the company to continue to expand the resource estimate and to move the project eventually towards feasibility.
Access Eagle Hill Exploration research reports, the CEO Video interview, news and commentaries on their Investor Hub HERE
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