|By Marketwired .||
|March 3, 2014 07:01 AM EST|
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/03/14 -- Eagle Hill Exploration Corporation (TSX VENTURE: EAG)(OTCQX: EHECF) ("Eagle Hill" or the "Company") is pleased to release an updated mineral resource statement for the Windfall Lake Gold Project, located in the Abitibi Gold Belt in Quebec, Canada. The mineral resource statement was prepared by SRK Consulting (Canada) Inc. ("SRK") and updates the previous resource statement prepared by SRK in July 2012. The revision is based on the results from a total database of 706 core boreholes (192,045 metres) of which 635 boreholes (179,641 metres) were used for mineral resource estimation purposes.
Compared to the July 2012 mineral resource statement, the indicated mineral resource tonnage and contained gold have increased by 43% and 38%, respectively, resulting in contained gold of 744,000 ounces grading 9.75 g/t gold. Indicated mineral resources are defined only within the Main Zone, which is informed by higher density of drilling data and better confidence in the geological continuity of the gold mineralization. The inferred mineral resource is estimated at 3,084,000 tonnes grading 7.37 g/t gold for contained gold of 731,000 ounces.
Table 1: Mineral Resource Statement, Windfall Lake Gold Project, Quebec SRK Consulting (Canada) Inc., February 28, 2014
---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Grade Contained Gold Resource Classification Tonnes (g/t) (ounces) ---------------------------------------------------------------------------- Indicated 2,375,000 9.75 744,000 ---------------------------------------------------------------------------- Inferred 3,084,000 7.37 731,000 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- 1. Prepared by SRK Consulting (Canada), Inc. with an effective date of February 28, 2014. 2. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves. 3. All figures have been rounded to reflect the relative accuracy of the estimates. 4. Reported at a cut-off grade of 3.0 g/t gold, assuming an underground extraction scenario, a gold price of US$1,200 per ounce and metallurgical recovery of 91.7%. 5. The inferred mineral resource includes 215,000 tonnes at 6.83 g/t gold for contained gold of 47,000 ounces in zones F17 and F51, located on the Murgor-Cliffs claims immediately adjacent the Main Zone of the Windfall Lake Project. 6. The National Instrument 43-101 technical report for this resource statement will be filed by Eagle Hill on SEDAR at www.SEDAR.com by April 17, 2014.
The Fall 2013 drilling program confirmed continuity of gold mineralization below the Red Dog intrusion. The inferred mineral resource in Table 1 includes 455,000 tonnes at a grade of 8.21 g/t gold for 120,000 contained ounces of gold below the main Red Dog dike, confirming the continuity of the gold mineralization below that intrusion. This highlights the potential to significantly increase the mineral resource below the Red Dog intrusion. Hole-to-hole induced polarization ("IP") geophysical data confirm the continuity of the pyrite stockwork hosting the Main Zone below the Red Dog intrusion and have defined drilling targets. Deep drilling and additional IP surveys are an exploration priority.
Recent drilling also identified a late phase of gold mineralization within the Red Dog dike that was previously thought to be barren. At the current wide-spaced drilling the new gold mineralization style inside the Red Dog dike contributes only a small tonnage to the inferred mineral resource (249,000 tonnes at 4.26 g/t gold for 34,000 ounces), but highlights the potential for this intrusion to host further mineral resources.
Previously announced drilling in the area to the southwest of the Main Zone confirmed gold mineralization in this area and returned significant gold intercepts. Spacing of existing boreholes is too sparse to confirm continuity between sampling points and support mineral resource evaluation. Additional drilling in this area has the potential to add to the mineral resource of the project.
Eagle Hill is reviewing SRK's technical report for the project, which will include SRK's recommendations for advancing the property. Eagle Hill has commenced a 2,200-metre drilling program to test for extensions of Zone 27 under shallow lakes (2 to 6 metres depth) that are currently frozen. Eagle Hill plans to drill 14 holes to a depth of 120 to 250 metres to test the lateral extensions of Zone 27, where drilling has confirmed near-surface high-grade intervals such as 14.8 g/t gold over 16.0 metres (EAG-12-418). Additional drilling for 2014 will be planned once the Company has reviewed the technical report and considered SRK's recommendations. Eagle Hill will file the technical report on SEDAR at www.sedar.com by April 17, 2014.
Mineral Resource Estimate Methodology
A database comprising 635 core boreholes (179,641 metres), which represents drilling data acquired between 2004 and 2014 by Murgor Resources Inc., Noront Resources Inc. and Eagle Hill, were used for geological modelling and mineral resource estimation. The borehole data include collar location, down-hole survey data, lithology codes and 111,648 sample intervals assayed for gold.
The mineral resource model is based on a complete re-interpretation of the geology of the project, providing a more confident interpretation of the controls on the distribution of the gold mineralization and better confidence in its continuity between the sampling points. Fifteen resource domains were defined within a broad pyrite stockwork zone forming the Main Zone. In addition, the gold mineralization contained in geological domains was also considered (pyrite stockwork and various generations of dikes). Data were extracted from within these domains for geostatistical analysis.
After review, a grade estimation strategy was defined to populate a GEMS block model with gold grade informed from capped composite data using a geostatistical block modelling approach. Appropriate validations were undertaken to ensure that the block model adequately represents the informing composite data. Block estimates were classified into indicated and inferred categories considering confidence in geological interpretation, confidence in geostatistical continuity, estimation and the density of the informing data.
Indicated mineral resources are defined only within the Main Zone, which is informed by higher density of drilling data and better confidence in the geological continuity of the gold mineralization. The mineral resources in all other zones are informed by more widely spaced drilling information or exhibit a lower confidence in geological continuity and thus are appropriately classified in the inferred category.
The mineral resource has been estimated in conformity with the CIM Mineral Resources and Mineral Reserves Estimation Best Practices Guidelines and are classified according to the CIM Definition Standards for Mineral Resources and Mineral Reserves (December 2010) guidelines. The mineral resource statement is reported in accordance with Canadian Securities Administrators' National Instrument 43-101.
On Behalf of the Board of Directors
John Proust, Chairman and Interim CEO
About the Windfall Lake Gold Project
The Windfall Lake gold deposit comprises a number of lenses of pyritic stockwork and shear zones situated in the Archean Urban-Barry Greenstone Belt, approximately 200 km northeast of Val d'Or, Quebec. SRK Consulting (Canada) Inc. prepared a mineral resource statement for Eagle Hill in compliance with National Instrument 43-101 in February 2014 comprising 2,375,000 tonnes at 9.75 g/t gold (744,000 ounces) in the indicated category and 3,084,000 tonnes at 7.37 g/t gold (731,000 ounces) in the inferred category. This news release reports this mineral resource estimate. The bulk of the mineralization occurs in the Main Zone, a southwest/northeast trending zone of stacked mineralized lenses, measuring approximately 600 metres wide and at least 1,400 metres long.
About Eagle Hill Exploration Corporation
Eagle Hill Exploration Corporation is a Canadian mineral exploration company focused on the exploration and development of the high-grade Windfall Lake Gold Deposit, located between Val-d'Or and Chibougamau in Quebec. In August 2013, Southern Arc Minerals and Dundee Corporation invested an aggregate of $12 million to purchase a controlling interest in Eagle Hill and fund an aggressive exploration program. More information is available at www.eaglehillexploration.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The construction of the mineral resource model was a collaborative effort between Eagle Hill and SRK personnel. The resource estimation work was completed by Dr. Jean-Francois Ravenelle PGeo (OGQ#1062), Dorota El-Rassi, PEng (APEO #100012348) and Dominic Chartier, PGeo (OGQ#874) under the supervision of Glen Cole, PGeo (APGO #1416). By virtue of their education, relevant project experience, and affiliation to a recognized professional association, Dr. Ravenelle, Ms. El-Rassi, Mr. Chartier and Mr. Cole, are "qualified persons" independent from Eagle Hill for the purposes of National Instrument 43-101. Mr. Cole has reviewed the information contained in this news release.
The technical information in this document has been reviewed by Eagle Hill's Vice President Exploration, Jean-Philippe Desrochers, PhD, PGeo, who has sufficient experience relevant to the style of mineralization under consideration and qualifies as a Qualified Person as defined by National Instrument 43-101. The drill program and sampling protocol is managed by Eagle Hill under the supervision of Jean-Philippe Desrochers. The diamond drill holes are drilled at NQ sizes and core recovery to date has averaged better than 95.0%. Half core is cut by rock saw and is generally sampled using nominal 1-metre intervals; however, sample intervals vary according to geological contacts and have ranged between 0.3 to 1.5 metres in length. Two quality control samples (one blank and one certified reference material) are inserted into each batch of 20 samples. All assays were performed by ALS Chemex Laboratory Group, in Val d'Or, Quebec. The half core samples are securely transported from the project site to the ALS Chemex laboratory by Eagle Hill personnel. Gold analyses reported in this release were performed by standard fire assay using a 50-gram charge with atomic absorption finish and a gravimetric finish for assays greater than 10 grams per tonne and by metallic sieve method for samples containing significant amounts of pyrite or visible gold. In addition, an Aqua regia digestion with ICP-AES finish is used to analyse a full suite of elements including silver and base metals.
Cautionary Note Regarding Forward-looking Statements
This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of any of the words "will", "will be", "potential", "increase" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. This document contains forward-looking statements and assumptions pertaining to the following: uncertainty involving resource estimates and the ability to extract those resources economically, or at all; uncertainty involving drilling programs and the Company's ability to expand and upgrade existing resource estimates; the regulatory process and actions; the need to work with local communities and authorities to advance the properties; the need to work with Dundee and Southern Arc to advance the property; technical issues; new legislation; competitive factors and conditions; uncertainties resulting from potential delays or changes in plans; the occurrence of unexpected events; and the Company's ability to execute and implement future plans. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors, including uncertainty related to drill results and the inclusion of drill results in future resource estimates for the property. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct.
Between the compelling mockups and specs produced by your analysts and designers, and the resulting application built by your developers, there is a gulf where projects fail, costs spiral out of control, and applications fall short of requirements. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, will present a new approach where business and development users collaborate – each using tools appropriate to their goals and expertise – to build mo...
Feb. 28, 2015 09:00 AM EST Reads: 2,822
Operational Hadoop and the Lambda Architecture for Streaming Data Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing...
Feb. 28, 2015 09:00 AM EST Reads: 2,586
The Internet of Things (IoT) is causing data centers to become radically decentralized and atomized within a new paradigm known as “fog computing.” To support IoT applications, such as connected cars and smart grids, data centers' core functions will be decentralized out to the network's edges and endpoints (aka “fogs”). As this trend takes hold, Big Data analytics platforms will focus on high-volume log analysis (aka “logs”) and rely heavily on cognitive-computing algorithms (aka “cogs”) to mak...
Feb. 28, 2015 09:00 AM EST Reads: 929
When it comes to the Internet of Things, hooking up will get you only so far. If you want customers to commit, you need to go beyond simply connecting products. You need to use the devices themselves to transform how you engage with every customer and how you manage the entire product lifecycle. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, will show how “product relationship management” can help you leverage your connected devices and the data th...
Feb. 28, 2015 09:00 AM EST Reads: 1,190
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities. In his session at @ThingsExpo, Gary Hall, Chief Technology Officer, Federal Defense at Cisco S...
Feb. 28, 2015 09:00 AM EST Reads: 1,017
For years, we’ve relied too heavily on individual network functions or simplistic cloud controllers. However, they are no longer enough for today’s modern cloud data center. Businesses need a comprehensive platform architecture in order to deliver a complete networking suite for IoT environment based on OpenStack. In his session at @ThingsExpo, Dhiraj Sehgal from PLUMgrid will discuss what a holistic networking solution should really entail, and how to build a complete platform that is scalable...
Feb. 28, 2015 09:00 AM EST Reads: 2,240
In the consumer IoT, everything is new, and the IT world of bits and bytes holds sway. But industrial and commercial realms encompass operational technology (OT) that has been around for 25 or 50 years. This grittier, pre-IP, more hands-on world has much to gain from Industrial IoT (IIoT) applications and principles. But adding sensors and wireless connectivity won’t work in environments that demand unwavering reliability and performance. In his session at @ThingsExpo, Ron Sege, CEO of Echelon...
Feb. 28, 2015 09:00 AM EST Reads: 2,048
With several hundred implementations of IoT-enabled solutions in the past 12 months alone, this session will focus on experience over the art of the possible. Many can only imagine the most advanced telematics platform ever deployed, supporting millions of customers, producing tens of thousands events or GBs per trip, and hundreds of TBs per month. With the ability to support a billion sensor events per second, over 30PB of warm data for analytics, and hundreds of PBs for an data analytics arc...
Feb. 28, 2015 09:00 AM EST Reads: 1,157
We’re no longer looking to the future for the IoT wave. It’s no longer a distant dream but a reality that has arrived. It’s now time to make sure the industry is in alignment to meet the IoT growing pains – cooperate and collaborate as well as innovate. In his session at @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, will examine the key ingredients to IoT success and identify solutions to challenges the industry is facing. The deep industry expertise be...
Feb. 28, 2015 09:00 AM EST Reads: 2,753
Big Data is amazing, it's life changing and yes it is changing how we see our world. Big Data, however, can sometimes be too big. Organizations that are not amassing massive amounts of information and feeding into their decision buckets, smaller data that feeds in from customer buying patterns, buying decisions and buying influences can be more useful when used in the right way. In their session at Big Data Expo, Ermanno Bonifazi, CEO & Founder of Solgenia, and Ian Khan, Global Strategic Positi...
Feb. 28, 2015 08:00 AM EST Reads: 1,025
SYS-CON Media announced today that XebiaLabs launched a popular blog feed on DevOps Journal with close to 2,000 story reads in less than a day. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done.
Feb. 28, 2015 05:00 AM EST Reads: 2,251
One of the biggest impacts of the Internet of Things is and will continue to be on data; specifically data volume, management and usage. Companies are scrambling to adapt to this new and unpredictable data reality with legacy infrastructure that cannot handle the speed and volume of data. In his session at @ThingsExpo, Don DeLoach, CEO and president of Infobright, will discuss how companies need to rethink their data infrastructure to participate in the IoT, including: Data storage: Understand...
Feb. 28, 2015 05:00 AM EST Reads: 2,209
Since 2008 and for the first time in history, more than half of humans live in urban areas, urging cities to become “smart.” Today, cities can leverage the wide availability of smartphones combined with new technologies such as Beacons or NFC to connect their urban furniture and environment to create citizen-first services that improve transportation, way-finding and information delivery. In her session at @ThingsExpo, Laetitia Gazel-Anthoine, CEO of Connecthings, will focus on successful use c...
Feb. 28, 2015 04:00 AM EST Reads: 2,832
Cloudian, Inc., the leading provider of hybrid cloud storage solutions, today announced availability of Cloudian HyperStore 5.1 software. HyperStore 5.1 is an enhanced Amazon S3-compliant, plug-and-play hybrid cloud software solution that now features full Apache Hadoop integration. Enterprises can now transform big data into smart data by running Hadoop analytics on HyperStore software and appliances. This in-place analytics, with no need to offload data to other systems for Hadoop analyses, en...
Feb. 28, 2015 04:00 AM EST Reads: 2,321
Sensor-enabled things are becoming more commonplace, precursors to a larger and more complex framework that most consider the ultimate promise of the IoT: things connecting, interacting, sharing, storing, and over time perhaps learning and predicting based on habits, behaviors, location, preferences, purchases and more. In his session at @ThingsExpo, Tom Wesselman, Director of Communications Ecosystem Architecture at Plantronics, will examine the still nascent IoT as it is coalescing, includin...
Feb. 28, 2015 03:30 AM EST Reads: 2,329