VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/10/13 -- Eagle Hill Exploration Corporation ("Eagle Hill" or the "Company") (TSX VENTURE: EAG) is pleased to provide the following update and outline plans for the Windfall Lake Property (the "Property").
Based in part on the success of Eagle Hill's exploration on the Windfall Lake Property, the Company negotiated a three-year extension of the 2009 option agreement for the Property with Noront Resources Ltd. The Company's focus over the next year will be to increase the quality of the gold resource from inferred to indicated through systematic definition drilling and to continue with exploratory drilling efforts both below and to the southwest of our current gold resource in an effort to further expand the size of this gold deposit. The objective of this drilling is to increase gold ounces in the indicated category so they can be converted into reserves. While expanding the mineral resource, Eagle Hill will work towards completing a bankable Feasibility Study (the "FS"), with an estimated completion time of 30 months from today.
Summary of Eagle Hill's Activities in 2012 and first quarter of 2013
-- Eagle Hill completed a total of 46,543 meters of drilling in 159 drill holes during this period and obtained significant positive results, while expanding the size of the mineral resource and improving its quality. The amount of drilling completed after the July 2012 mineral resource estimate includes 101 drill holes for 29,208 meters that were significant in extending the size of the known gold zones.-------------------------------------------------------------------------- START END Number Number Number ofPHASE YEAR DATE DATE DDH meters drill rigs--------------------------------------------------------------------------PHASE 4 2012 04/01/2012 30/03/2012 58 17,334.55 2--------------------------------------------------------------------------PHASE 5 2012 28/05/2012 18/07/2012 44 10,362.90 2--------------------------------------------------------------------------PHASE 6 2012 18/07/2012 25/11/2012 47 14,879.80 1--------------------------------------------------------------------------PHASE 7 2013 04/02/2013 08/03/2013 10 3,965.90 1-------------------------------------------------------------------------- TOTAL FOR ALL PHASES 159 46,543.15--------------------------------------------------------------------------DRILLING NOT INCLUDED IN THE LAST MINERAL 101 29,208.60 RESOURCE ESTIMATE (SRK, July 2012)--------------------------------------------------------------------------Note: Assay results of the 2013 drilling program are currently undergoingquality control tests and results will be announced once received.-- In July of 2012, the Company received its second mineral resource estimate for the Windfall Lake gold project, the results of which are displayed in the table below:--------------------------------------------------------------- Quantity Gold Grade Contained Gold ('000 tonnes) (g/t) (ounces)---------------------------------------------------------------Indicated 1,665 10.05 538,000---------------------------------------------------------------Inferred 2,906 8.76 822,000----------------------------------------------------------------- The Company's geological team completed an important re-logging program of the Property's older drill core to better constrain the geological controls on gold mineralization and to address the continuity of the gold zones. The most recent cross sections and plan view has been posted on Eagle Hill's website, www.eaglehillexploration.com/sections-- A total of 91 till samples were collected as a follow-up on gold-in-till anomalies detected in the northeast and the central west part of the Property during a regional till survey. Assay values of up to 3.26 g/t of gold were obtained from till concentrate and numerous pristine gold grains were observed, suggesting a close proximity to the source.-- The Company completed an 84 line-kilometer IP survey in two grids to follow up on till anomalies detected in the northeast and the central west part of the Property. Over 182 anomalies were detected of which 19 are considered as suitable targets for follow-up drilling.-- Eagle Hill completed new metallurgical testing on higher grade material, averaging 10.1 g/t gold, from different zones of the deposit. Results indicate that the Windfall Lake mineralization is relatively soft with a Ball mill Bond Work index of 9.8 kWh/t and 11.5 kWh/t for two tested samples. The results of the metallurgical tests indicate that best recoveries would be achieved through a standard gravity circuit followed by a flotation / cyanidation circuit. Results of the new metallurgical test indicate that recoveries would be 91.7% for gold and 74% to 78% for silver.-- In October 2012, Eagle Hill executed an Exploration Agreement with the Grand Council of the Cree (Eeyou Istchee) and the Cree First Nation of Waswanipi. This agreement confirms the support of involved parties in the pursuit of activities and studies necessary to enhance the value of the Windfall Lake Property and the Cree Grand Counsel.
