EAG.V : TSX-V Last: 0.075 Vol: 60000 Change: -0.005 High: 0.08 Low: 0.075
EAG.V : TSX-V Last: 0.075 Vol: 60000 Change: -0.005 High: 0.08 Low: 0.075
The Windfall Lake Property is a large land position measuring 12,403 hectares and comprising 285 cells 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 in the form of:
This extensive exploration work has resulted in good geological data. During 2008, Eagle Hill exploration team recognized the excellent potential of the Windfall Property and signed option agreements with Noront, Murgor and Freewest (Now Cliffs) to consolidate various properties into a large land position. This team of geologists, geoscientists and engineers organized a series of exploration programs that led to a mineral resource estimation that contains an indicated resource of 538,000 ounces and an inferred resource of 822,000 ounces.
Mineral Resource Estimation for Windfall Lake (SRK, July 2012)
|
|
Quantity |
Gold Grade |
Contained Gold |
|
Indicated |
1,665 |
10.05 |
538,000 |
|
Inferred |
2,906 |
8.76 |
822,000 |
The goal of the future exploration and definition drilling programs is to delineate mineralized zones that can be mined either by underground mining or open pit methods depending on the grade, volume and location of the mineralization. The first priority is to expand the mineral resources and to upgrade the resource classification from inferred to indicated by conducting in- fill drilling in the shallower portion of the Main Zone (less than 500 meters depth).
There is also a good potential to expand the mineral resources by conducting deep drilling below the Red Dog Sill to investigate the continuity of the Main Zone gold mineralization at depth.
