American Eagle shifts focus to Canada copper project
TSX-V-listed American Eagle Gold has fully exited Nevada with the termination of the Cerros Rojos agreement. With that, the company’s focus will be on its current drill programme at its NAK copper/gold porphyry project, near Smithers, in British Columbia.
American Eagle previously indicated that it plans to change the company name to Drillore Exploration, but said on Friday that it would not pursue a name change anymore.
The strategic shift to exploration in Canada comes as American Eagle believes British Columbia offers a superior risk-reward ratio than Nevada.
NAK is a classic porphyry target exhibiting many signs of a robust copper/gold system. Previous owners partially defined a large shallow copper/gold mineralisation that is open in all directions.
Reinterpretation of historical ZTEM, IP, magnetics, soil geochemistry, and drilling data defined several compelling and untested exploration targets, which will be tested by four to six vertical holes of about 800 m in length.
Previous drilling has intersected wide intervals of copper/gold mineralisation, including DH95-15, which returned a grade of 0.35% copper and 0.645 g/t gold over a width of 168.5 m, starting 5.5 m from the surface. The company believes the key to advancing the NAK project will be to extend existing mineralization to depth.
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