VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 4, 2012) - Eagle Hill Exploration Corporation (TSX VENTURE:EAG) ("Eagle Hill" or the "Company") is releasing additional assay results from its ongoing 25,000 meter drill program on the Windfall Lake Gold Deposit in northwestern Quebec. The drill program is successfully expanding the size of the Caribou Gold Zone in an area that was not included in the mineral resource estimate published in November 2011. This November 2011 mineral resource estimate contains a Total Indicated Resource of 1.144 million tonnes at 9.10 g/t of Gold (335,000 oz) and a Total Inferred Resource of 1.690 million tonnes at 6.70 g/t of Gold (364,000 oz).
The drilling announced today confirms the vertical continuity of the Caribou and Caribou South Zone and has identified additional near surface mineralization in both the western and eastern portions of the deposit.
Expansion of Caribou Gold Zone
Significant results were obtained with drill hole EAG-12-333 which intersected the Caribou South and Caribou Zone at 190 meters and 290 meters below surface respectively in an area of the deposit where both zones were untested. The Caribou South Zone returned an intercept of 5.3 g/t of Gold over 9.0 meters and the Caribou Zone returned 3.2 g/t of Gold over 7.3 meters.
EAG-12-333 was drilled on section 2525 to test the Caribou South, the Caribou, and the Mink Gold Zones. It tested the Caribou Zone some 25 meters to the east and 10 meters below hole EAG-12-294 (2.5 g/t of Gold over 4 meters), 25 meters to the east but 130 meters above hole EAG-12-320 (25.7 g/t of Gold over 4 meters), and 50 meters west and 40 meters below hole EAG-12-293 (1.13 g/t of Gold over 2 meters). The current drilling extended the Caribou and Caribou South Gold Zones by more than 50% as can be seen on the Longitudinal Section Caribou Zone located on the Company's website at www.eaglehillexploration/sections.
Near Surface Discovery
Near surface mineralization was also intersected in the western sector of the deposit. Drill hole EAG-12-329 returned an interval of 4.0 g/t of Gold over 9.0 meters at 30 meters below the surface, and is believed to be parallel to the upper extension of Zone 27. EAG-12-329 also intersected 1.2 g/t of Gold over 14.7 meters at 115 meters below surface. The two intercepts are located in the western portion of the deposit where other near surface gold mineralization has been intersected, including 22.85 g/t of Gold over 25.0 meters in hole EAG-12-318 and 1.2 g/t of Gold over 12.8 meters in drill hole EAG-11-250. Eagle Hill has just completed drilling five additional holes in this sector to better define this near surface gold mineralization. All drill holes intersected the typical sulphide mineralization over a strike length of 200 meters. The results for these drill holes are still pending and will be released as soon as they become available.
Eagle Hill is currently reviewing the results obtained in this sector and will plan additional shallow drilling to further evaluate this near surface mineralization. Mechanical stripping of the upper projection of this zone will be carried out during the month of May along with sampling to confirm the shape of the gold zone.
Interim Drilling Conclusions
The gold mineralized zones defined to date cover a strike extent of more than 650 meters in the east-west direction and include, from south to north, the Caribou South Zone, the Caribou Zone, the Mink Zone, Zone 27 South, Zone 27, the Mallard Zone, and the Mallard North Zone. All the zones are vertical with horizontal widths of 2 to 20 meters. In addition to the near surface gold mineralization present at Windfall, recent drilling has demonstrated that mineralized zones continue to a depth of 770 meters below the surface with intercepts such as 8.9 g/t of Gold over 14.0 meters and 5.5 g/t of Gold over 15.0 meters (March 1, 2012 press release).
Drilling in the eastern extension of the Windfall Gold Deposit also highlighted near surface gold mineralization at the eastern limit of the known zones. Drill holes EAG-12-324 to EAG-12-328 intersected anomalous gold mineralization in the first 130 meters below surface with values up to 2.2 g/t Au over 8.3 meters. Additional near surface mineralization had also been intersected historically in the same area with intercepts such as 14.02 g/t Au over 7.7 meters and 5.83 g/t Au over 5.6 meters. The new drilling completed by Eagle Hill in this sector, together with the re-examination of nearby historical drill holes, suggests that the gold mineralization forms a series of sub-horizontal, stacked gold mineralized zones extending for over 150 meters laterally. Further drilling in this sector will be required to better define the near surface gold zones.
A map of the Windfall Lake property outlining the location of the gold zones, drill holes and areas of potential expansion, together with cross-sections, longitudinal sections and pictures of core showing the mineralization style have been posted on Eagle Hill's website.
The attached table shows the most material assay results from drill holes EAG-12-319 to EAG-12-333, please visit the following link to view: http://media3.marketwire.com/docs/eag440i.pdf.
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 tonne. Assays returning results over one ounce per ton of gold by atomic absorption are reassayed using the metallic sieve method. All assays were performed by ALS Chemex Laboratory Group, in Val d'Or, QC. 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.
Terence Schorn, 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.
About Eagle Hill Exploration Corporation
Eagle Hill Exploration Corporation is a Canadian mineral exploration company focused on the exploration and development of gold and precious metal prospects. The Company is set to become an advanced stage gold exploration company with its acquisition of the Windfall Lake high grade gold project, located in Urban Township, Quebec, between Val-d'Or and Chibougamau. Eagle Hill seeks projects that contain or have potential to have large resource potential. The Company's website at www.eaglehillexploration.com and public filings at www.sedar.com provide additional information on its properties and other information with respect to its management and operations.
ON BEHALF OF THE BOARD,
P. Bradley Kitchen, President
FORWARD LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.
Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate" or "belief" or describes a "goal" or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements are based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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