American Eagle Gold Corp. announce that a second diamond drill rig is now operational on its NAK copper-gold project in British Columbia. Early reports indicate that operations are proceeding smoothly, and that drilling has encountered chalcopyrite, bornite, and molybdenite mineralization consistent with nearby holes drilled previously. NAK24-18 has surpassed 750 metres and still drilling. It was collared 100 m north of NAK23-17, with the goal of testing favourable geology and its related geophysical expression in the area west of the Babine porphyry stock. NAK24-19, being drilled by the new rig, aims to test the near surface gold-rich mineralization encountered at the historical South Zone, to depth to the southeast. It is intended to traverse through a large and untested area along the southern margin of the Babine porphyry stock. NAK24-20, which will be drilled by the first rig, is planned to collar 100 m to the north of NAK24-18, and will continue to test the area being tested by that hole, with the aim of tracking the "IP shoulder"(a moderate chargeability response) which links the historical North and South zones at NAK. American Eagle is anticipating receiving the final merged inversion modeling of its geophysical data. The Company recently completed further IP surveying across five lines, and is merging and modeling that data along with the three lines it completed late in the 2023, and with historical data collected by previous operators. Preliminary inversion modelling of that data, along with the results of the Company's 2022 and 2023 drilling, has been used to guide the placement of this season's drill collars. The 2024 drill program integrates the Company's growing understanding of the relationship between the emplacement of multi-phase Eocene dikes and sills with reactive and permeable host rocks to form the extensive Nak mineralized system. The Company is developing models for geology, mineralization, alteration, and structure for the system, which will form the basis for its ongoing planning. The expanded
2024 drill program, currently planned for 15,000 metres, will aim to link, better define, and expand upon the historical North and South zones, which the Company showed in its 2022 and 2023 drill programs to extend to considerable depths (close to 950 m below surface) along a strike length of 750 m and across a width of 400 m. Intercepts from 2023 include 900 m of 0.50% Copper Equivalent from surface in the North zone and 302 metres of 1.09% Copper Equivalent within 606 m of 0.74% Copper Equivalent starting from 98 metres downhole in the South Zone.