06:19:35 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Eclipse Gold Mining Corp
Symbol EGLD
Shares Issued 57,590,394
Close 2020-07-31 C$ 0.76
Market Cap C$ 43,768,699
Recent Sedar Documents

Eclipse Gold begins geophysical survey at Hercules

2020-08-04 12:49 ET - News Release

Mr. Michael Allen reports

AIRBORNE GEOPHYSICAL SURVEY INITIATED AT ECLIPSE'S HERCULES GOLD PROJECT IN NEVADA

Eclipse Gold Mining Corp. has initiated a helicopter-supported geophysical survey to explore the scale of the mineralizing system at its Hercules gold project in Nevada's Walker Lane trend.

Electromagnetic (resistivity and conductivity), magnetic, and radiometric data will be collected for the entire Hercules property, with approximately 2,200 line kilometers planned. Previous work indicated a potential correlation between resistivity and gold mineralization on the property. The survey is being conducted by Geotech Ltd of Aurora, ON.

The goal of the geophysical survey is to assess property-wide exploration potential at Hercules and generate a prioritized list of targets for further drilling programs. The Company has created an 85-square-kilometer district-scale land package, through claims and ownership consolidation, that is known to host a low-sulphidation epithermal gold-silver system of undefined size.

Recent drilling by the Company highlighted the strength and continuity of the mineralized system at Hercules, intersecting broad intervals of near-surface oxide gold-silver mineralization in all target areas tested to date, some greater than 50 meters (See June 10, 2020 news release).

Results from a recent ground IP survey identified a new 'Hercules Structural Zone', a potential feeder structure, that extends more than 2,000 meters along strike, and remains open for expansion (See July 21, 2020 press release).

"Work to date by the Company has been systematically exploring the Hercules Gold Project," stated Michael Allen, President and CEO of Eclipse Gold, "We have now established that Hercules hosts a large scale, epithermal gold system whose value is only now beginning to be unlocked. Our next phase of work is to assess the full scale of the system and vector in on potentially higher-grade zones."

The Company expect results of the airborne geophysical survey in mid-August and will add to our growing understanding of the project as we plan our next round of drilling.

About Eclipse Gold Mining

Eclipse Gold Mining is exploring the district-scale Hercules gold property within Nevada's Walker Lane trend. The Hercules property is located only a one-hour drive from Reno and appears to have all the characteristics of a large, low-sulphidation epithermal gold system. The Company brings together a team with collective funding of over $2 billion in both strong and weak markets, and a track record of at least nine successful buyouts/exits.

Qualified Person

Dr. Warwick Board, P.Geo., Vice President of Exploration for Eclipse Gold Mining Corporation, and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.

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