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Bald Eagle Gold Corp
Symbol BIG
Shares Issued 102,147,063
Close 2021-05-19 C$ 0.07
Recent Sedar Documents

Bald Eagle drills 209.6 m of 0.55 g/t Au at Hot Springs

2021-05-19 09:12 ET - News Release

Mr. Sidney Himmel reports

BALD EAGLE DISCOVERS NEW ZONE OF EPITHERMAL MINERALIZATION AT HOT SPRINGS PROJECT IN NEVADA

Bald Eagle Gold Corp. has released drill results for three of five drill holes received from its winter drilling campaign at the Hot Springs property in Nevada. Two of the five drill holes intercepted a newly identified zone of gold mineralization (hole HS-2020-01 reported; HS-2020-04 pending). The new zone of mineralization correlates well with the IP geophysics chargeability anomalies identified by the joint venture prior to commencement of the drill program. Drilling identified wide intercepts of significant alteration, which display characteristics of a hybridized low-sulphidation epithermal gold system. The majority of historical drilling did not investigate horizons deeper than 100 metres. The average hole depth of this program was approximately 370 metres. Based on these deeper drill results, a new system has been identified. These drill results materially increase the potential to establish a significant gold resource.

The analytical chemistry programs for the first three holes were completed by American Assay Laboratories in Sparks, Nev., and the ALS Global Geochemistry analytical laboratory in Reno, Nev. The drilling of the five core holes was completed in March, 2021. The program totalled 1,846.3 metres of core drilling. All results are being incorporated into the property's three-dimensional Leapfrog model and correlated to the IP geophysics data.

The results from the first three core drill holes are summarized in the attached table.

HS-2020-01

Drill hole HS-2020-01 was designed to twin a previous high-grade shallow intercept and further investigate mineralization at depth based on anomalies identified during the IP geophysics program. The deeper zone was encountered from 180.3 to 389.9 metres and intercepted 209.6 metres averaging 0.55 gram per tonne gold. This included 39.7 metres averaging 0.70 gram per tonne gold and 32.5 metres averaging 0.79 gram per tonne gold. Based on the results of HS-2020-01, it has been determined that significant gold mineralization is associated with sulphides. Therefore, the upcoming programs will be testing a number of identified geophysical targets, which represent sulphide bodies that may contain significant gold mineralization. This drill hole confirmed the increase in gold mineralization associated with sulphide content starting at 180 metres and throughout the chargeability anomaly.

The deep zone of HS-2020-01 is hosted within a shattered zone of the Harmony formation where multiple silicification events, brecciation events and silica-sulphide pulses have created a broad mineralized zone. The zone is open laterally and along strike. More drilling is planned to test offsets of this mineralized body, as well as evaluating other geophysical targets.

HS-2020-02 and HS-2020-03

Holes HS-2020-02 and HS-2020-03 tested shallow mineralization previously identified in historical surface exploration results. Drill hole HS-2020-02 was drilled at the top of the hill above hole HS-2020-03 and was designed to test for further mineralization at depth. The zone from 20.9 to 100.9 metres intercepted 80.0 metres averaging 0.24 gram per tonne gold. This interval correlates with hole HS-2020-03. Drill hole HS-2020-03 was the first hole drilled during the program. The target zone was encountered from 24.1 to 103.4 metres intercepting 79.3 metres and averaged 0.36 gram per tonne gold. Drill hole HS-2020-03 did not reach the target depth.

Drill hole HS-2020-04 will assist in determining stratigraphic and structural continuity of hole HS-2020-01. This is important as the mineralization appears to have stratigraphic and structural controls.

Sidney Himmel, president, chief executive officer and a director, comments: "These results are consistent with our belief that the property hosts an epithermal gold deposit. In particular, the results of hole HS-2020-01, which tested one of the geophysical anomalies, was very promising in terms of the width of mineralized horizons and correlation of sulphides with gold. These initial grades are consistent with large and minable bulk-tonnage gold deposits in Nevada. The next programs will entail the targeting of additional geophysical targets, a number of which have been identified, and will result in the creation of a local mineral deposit model incorporating structural and lithological controls. With a deeper epithermal system now confirmed, the results now warrant undertaking a comprehensive exploration program to infill known mineralized zones and to test the extent of mineralization across the entire project area."

The technical information in this news release has been reviewed and approved for disclosure by Michael Feinstein, PhD, CPG, the qualified person for Bald Eagle Gold within the meaning of National Instrument 43-101. All samples are collected and maintained in accordance with established quality assurance/quality control (QA/QC) protocols. Analytical services reported in this press release were carried out by ALS Minerals, an International Organization for Standardization/International Electrotechnical Commission (ISO/IEC) 17025:2005 and ISO-9001:2008 accredited laboratory. American Assay will complete the cutting, preparation and assaying for the remaining two holes. American Assay is an ISO-17025 accredited laboratory.

About the Hot Springs property

The Hot Springs property is a 50-per-cent/50-per-cent joint venture between the company and Osgood Mountains Gold LLC. The property consists of approximately 11,894 acres comprising private mineral rights and unpatented federal lode mining federal claims. This property is located at the junction of the prolific Getchell gold trend and the Battle Mountain gold trend in north-central Nevada. The land position is situated approximately 25 miles west of the Twin Creeks, Getchell and Pinson mines and 30 miles east of the Sleeper mine.

On March 5, 2021, the company filed a National Instrument 43-101-compliant technical report on the property, with an effective date of Nov. 3, 2020. A set of historical data exists for 8,175 metres of drilling across 91 drill holes. The historic drill programs outlined a near-surface zone of gold mineralization in an area with dimensions of approximately 1,200 metres by 400 metres.

About Bald Eagle Gold Corp.

Bald Eagle Gold is a junior mining company focused on the exploration and development of advanced exploration assets in known gold districts in the Americas. The company's objective is to acquire advanced exploration projects for exploration and development. The company intends to, through evaluating historical data and utilizing modern exploration techniques and geological concepts, enhance resources. The management team and board of directors of the company have an established record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.

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