Toronto, Ontario / March 9th, 2022 – Bald Eagle Gold Corp. (“Bald Eagle” or the “Company”) (TSXV: BIG) (OTCBQ: BADEF) (FSE: 6W0) Is pleased to announce that Goldspot Discoveries Corp. (“Goldspot” or “Goldspot Discoveries”) has completed a three-dimensional (3D) geological model for the Hercules Silver Project located in the Heath Mining District of Washington County, Idaho (“Hercules”, or the “Property”). The model incorporates the recently digitized historical exploration and drilling data, including over 300 historical drill holes, soil sample geochemistry, geological mapping, cross-sections, IP geophysics, and government Light Detection and Ranging (LiDAR) imagery. A fly-by video showcasing the mineralization, geology, geophysics and soil geochemistry in 3D has been posted to the Company’s website and can be found through the following link:
Geological Model
Higher-grade mineralization is hosted at the lower contact of the Hercules Rhyolite (shown in pink on Figure 1) with the underlying andesite unit (shown in green on Figure 1). Modelling these important units in 3D allows for the visualization of the structurally complex contact between the units, which can be used to precisely target the bottom of the mineralized horizon in upcoming drill campaigns.
The geological model incorporates data from both historical 2D surface geology maps and cross-sections as well as lithological information from over 300 historical drillholes. In addition to its use in targeting extensions of the mineralized zones, the model reveals many historical drill holes which were in fact terminated short of the important mineralized lower horizon.
Block Model
A block model of the historical silver mineralization was developed by Goldspot Discoveries using kriging methods in Seequent Leapfrog software. Goldspot’s modelling team applied trends to the data which connect the mineralized intercepts between historical drill holes. The resulting model indicates that mineralization dips to the northwest at the Hercules Adit and to the southwest at Fishpond. These dips are consistent with a northwest-plunging fold hinge, as observed in the Hercules Rhyolite on surface. The hinge area of the interpreted fold has not been tested by historical drilling. Downdip extensions of the interpreted limb regions remain open as well, as indicated on Figure 2.
The block model provides the first-ever 3D visualization of silver mineralization defined by historical drilling on the Property. The model will be used to guide the planning of a 2022 drill program which will be aimed at testing the down-plunge extensions at the Fishpond and Hercules Adit zones, as well as confirming important historical intercepts. Provided the confirmation drilling and other planned technical work programs verify the historical results, the Company intends to use the data in the estimation of a mineral resource for the Property under current CIM definitions and utilizing current industry best practices.
Induced Polarization (IP) Geophysical Data
Two historical IP geophysical surveys were conducted on the Property, one of which highlighted a large region of anomalous chargeability in the northeastern portion of the Property, which has not previously been drill tested (Figure 3). Earlier this year, SJ Geophysics was engaged to digitize the raw 2D IP and resistivity data from both surveys and run modern 3D inversion algorithms on the data. The resulting chargeability and resistivity models were incorporated into the Leapfrog model (Figure 3). Anomalous chargeability values correlate with known mineralization at the Hercules Adit and form a halo that surrounds and overlaps the mineralization at Fishpond. The strongest and largest chargeability anomaly occurs in a region between the Hercules Ridge and Grade Creek zones, which was not previously drill tested by truck mounted rigs, due to the relatively steep terrain. The untested IP anomaly is also coincident with the strongest silver-in-soil anomaly and provides a high priority exploration target (Figure 4).
The historical IP surveys cover just a small portion of the Property between the Fishpond/Hercules Adit and Grade Creek zones. The Haystack, Belmont and extensive portions of the host Hercules Rhyolite remain to be surveyed.
Management Commentary
Chris Paul, CEO of Bald Eagle, comments: “We are very pleased with the resulting 3D model developed by Goldspot Discoveries. Being able to visualize the geometry of the mineralization in three dimensions is helping greatly with our 2022 drill planning. When working with such a large volume of historical drill assay data, the modern 3D software provides an excellent tool for understanding the geometry of the mineralization and targets for expansion. The ability to overlay drilling, geology, geophysics and surface geochemistry data in three dimensions provides us with a powerful drill planning tool, which was not available to the past operators in the 1960’s, 70’s and 80’s.”
Qualified Person
The scientific and technical information in this news release has been reviewed and approved for disclosure by Donald E. Cameron, MSc, a Registered Member of the Society for Mining, Metallurgy & Exploration, Inc., a QP Member of the Mining & Metallurgical Society of America and an independent “Qualified Person” for Bald Eagle within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). To the best of his knowledge, the technical information pertaining to the Hercules Silver Property and discussion of it as disclosed in this news release is neither inaccurate nor misleading; however, the technical information presented in this news release was collected prior to the enactment of NI 43-101 and comprises paper records maintained by various companies that conducted exploration work on the Property. Details of the sampling methods, security, assaying, and quality control methods used in the generation of this historical technical data are unknown to Bald Eagle Gold Corp., and the results discussed herein cannot be, and have not been verified by Mr. Cameron for the purposes of National Instrument 43-101 and should not be relied upon.
About Bald Eagle Gold Corp.
Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of the Hercules Silver Project, northwest of Cambridge, Idaho. The Company’s management team brings extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored precious metals properties worldwide. The board of directors have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets.
For further information please contact:
Chris Paul
CEO & Director
Telephone: (250) 717-3151
Email: [email protected]
Raymond D. Harari
President & Director
Telephone: +(507) 6675-2221
Email: [email protected]
Or visit our website: www.baldeaglegold.com
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. Any securities referred to herein have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Disclaimer for Forward-Looking Information
This news release contains certain information that may be deemed “forward-looking information” with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate; future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work; risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits; the possibility that results will not be consistent with the Company’s expectations; as well as other assumptions, risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company’s public disclosure documents filed on the SEDAR website at www.sedar.com.
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