TSX-V-listed American Eagle Gold on Monday reported assay results from the first hole of its 2022 programme on its NAK copper/porphyry project, in British Columbia.
The maiden drill hole returned 851.28 m of 0.33% copper equivalent, including 126 m of 1.02% copper equivalent from surface.
NAK is a classic porphyry copper/gold target where the current 5 000 m drill programme tests the potential for a mineralised footprint greater than 1.5 km x 1.5 km.
All five holes drilled to-date hit broad mineralisation from surface to a maximum depth of 984 m downhole. Assay results for the other four holes are pending.
"Our objective at NAK is to discover a world-class copper/gold deposit with a high-grade core at depth. Today's results exceeded our expectations,” commented CEO Anthony Moreau.
“We have encountered mineralization in every hole and intersected a wide, high-grade interval from surface on the first hole. The bounds of the system are entirely unknown, including depth extensions of high grade.”
Moreau stated that these results had set up the company for an exciting remainder of 2022 and 2023.
American Eagle bought the NAK project, located in the Babine copper district, at the end of last year.