American Eagle Gold has entered into an agreement to acquire a 100% interest in the Nakinilerak (NAK) property – a copper-gold porphyry exploration target – in the Babine Copper District of British Columbia, Canada.
NAK is located in the Stikine Island Arc Terrane, which hosts many copper-gold porphyry deposits. Its known mineralization is open at depth and is defined by a compelling geophysical signature analogous to Newcrest Mining’s Red Chris mine and Newmont Mining’s Tatogga project located in northwest BC.
“The acquisition of NAK was data-driven and supported by the risk-reward proposition to drill test a new geophysical feature within a well understood geologic environment,” said American Eagle Gold CEO Anthony Moreau.
American Eagle Gold said NAK’s historic drill and exploration database have been digitized along with a reinterpretation of the geophysical and geochemical data to delineate targets for its drill program in 2022. During the due diligence process, the Canadian miner’s team uncovered what appears to be a classic geophysical signature for a large underground copper-gold porphyry system.
The project has had over $9 million of exploration work, including 18,000 meters of drilling. Most of the historical drill holes have been shallow, averaging less than 169 m, which defined an extensive zone of near-surface, low-grade copper-gold mineralization, with the possibility of higher grades occurring at depth.
American Eagle Gold also owns the Golden Gate and Cerros Rojos projects in Nevada, USA.
Source: American Eagle Gold