VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 10, 2010) - Eagle Hill Exploration Corporation ("Eagle Hill" or the "Company") (TSX VENTURE:EAG) is pleased to announce that it has received initial drill results from the Company's first drill program at the Windfall Lake Property.
The assay results from drill hole EAG-10-196 continue to indicate the presence of significant gold grades over wide mineralized intervals including 19.61 g/t gold over 33.00 meters (3.51 g/t gold when cut to 1.00 oz/t). The complete mineralized zone from this drill hole is visually identified over 52.00 meters in length with the assay results from the remaining 19.00 meters pending.
Drill hole EAG-10-196 is the first step-out drill hole completed at the Windfall Lake Property by Eagle Hill, and extends the gold mineralization by 46 meters to the southwest. This is the westernmost borehole drilled on the gold zone and it indicates that the zone remains open to the southwest where additional drilling is being conducted. Gold mineralization is defined by abundant pyrite stockwork hosted by a highly silicified and sericitized rhyolite breccia.
"These initial results are extremely encouraging as the combination of a step out of 46 meters and significant gold mineralization over a width of 52 meters reflect a new extension of the gold mineralized zone," explained Brad Kitchen, President and C.E.O. of Eagle Hill. "Continuous gold mineralization over such large areas confirm Eagle Hill's belief that, in addition to extremely rich, but narrow structures, the gold mineralization at the Windfall Lake Property also occurs in large intervals with consistent gold grades."
The following table shows all significant assay results received so far from hole EAG-10-196. A table of complete results will be posted on the Company's website when the remaining 19 meters are received.
The true widths of the mineralized zones represent approximately 85% of the length of the intervals reported in the table above.
The new results listed above are preliminary results from a 10,000 meter drilling program currently underway at the Windfall Lake Gold project, under the management of Murgor Resources Inc. (TSX.V - MGR) technical team. Assay results from the whole program will be released as they become available.
Gold analyses reported in this release were performed by standard fire assay using a 30g charge with Atomic Absorption finish and a gravimetric finish for assays greater than 10 g/t. Samples containing visible gold are assayed using 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 conceived by Murgor Resources' technical team. The QA-QC program, includes duplicate samples, blanks and analytical standards.
Dr. Jean-Philippe Desrochers, P.Geo. and Vice-President of Exploration for Murgor Resources Inc. is a Qualified Person as defined by NI-43-101 that supervised the field work reported in this press release and reviewed the technical information it contains. Murgor Resources Inc. ("Murgor") has entered into a services contract with the Company in which Murgor will conduct the exploration on the Windfall Lake Property.
About the Windfall Lake Property
The Windfall Lake Property is comprised of 340 contiguous claims (10,991 hectares) in the Abitibi mineralized belt of northern Quebec. This area between Val d'Or and Chibougamau is known for its gold and copper production and excellent infrastructure for exploration and mining. Historically, the Windfall Lake Property has had extensive historic grassroots exploration work. Eagle Hill has signed options with Murgor Resources Inc., Freewest Resources Canada Inc., and Noront Resources Inc. to acquire 340 contiguous claims for a total of 10,991 hectares.
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 and precious metal 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 both companies have 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.