Eclipse Gold Mining Drills Shallow Oxide Gold Including 89.92 meters of 0.81 g/t AuEq Hercules Gold Project, Nevada
Highlight Drill Results
| Target | Drillhole | From (m) | To (m) | Length (m) | AuEq (g/t)* | Au (g/t) | Ag (g/t) |
| Cliffs | H20009 | 0.00 | 74.68 | 74.68 | 0.60 | 0.54 | 4.78 |
| Including | 4.57 | 16.76 | 12.19 | 1.18 | 1.04 | 10.48 | |
| Hercules | H20010 | 27.43 | 117.35 | 89.92 | 0.81 | 0.65 | 12.51 |
| Including | 51.82 | 82.30 | 30.48 | 1.44 | 1.10 | 26.17 | |
| Hercules | H20012 | 19.81 | 79.25 | 59.44 | 0.68 | 0.59 | 6.74 |
| Including | 19.81 | 25.91 | 6.10 | 1.05 | 0.84 | 16.48 |
*AuEq = Au + (Ag/77.7); no recovery factor has been applied
True thickness estimated to be between 60% and 80% of reported length
Length total may not tally exactly due to rounding
Summary:
- Drilling intersected shallow oxide-gold in almost every drillhole, some at intervals greater than 50 metres, and broad zones of higher-grade mineralization were identified.
- The Hercules mineralizing system appears to strengthen towards the south.
- These results indicate that mineralization at the Hercules Gold Project is potentially similar to other large Walker Lane-hosted, low sulphidation epithermal gold-silver systems.
Vancouver, British Columbia–(Newsfile Corp. – June 10, 2020) – Eclipse Gold Mining Corporation (TSXV: EGLD) (OTC Pink: EGLPF) (“Eclipse” or “the Company”) is pleased to report drill results from its first phase of drilling at the Hercules Gold Project located in Lyon County, Nevada. A total of 3,271 meters were drilled in 12 exploration reverse circulation (RC) drillholes. Targets tested include Hercules, Cliffs, Loaves, Northeast, and Rattlesnakes; eleven of the twelve holes intersected significant oxidized gold mineralization, and all targets contained gold mineralization.
Importantly, this drilling has highlighted the Hercules mineralizing system appears to strengthen to the south on the Company’s 85 square kilometer land package.
“The Hercules Gold Project is beginning to take shape as an exciting new gold district in Nevada, and we are delighted with these drill results being in hand so quickly after our listing in February 2020.” noted Michael G. Allen, President, CEO and Director, “Being located approximately one hour from Reno, Hercules is a truly remarkable project, potentially representing an almost ideal combination of scale, location, and grade.”
Results and Interpretation
“Evaluating these drill results allowed us to develop a model suggesting the presence of a mineralized system that is strengthening to the south, potentially expanding the footprint of mineralization beyond what we had previously envisioned.” noted Dr. Warwick Board, Vice President of Exploration, “This is in addition to the gold targets outlined following the consolidation of several historical databases for the property, the scale and tenor of which was confirmed by our drilling.”
Figure 1. Collar Location Map
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Figure 2. Hercules Target Detail
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Figure 3. Hercules Cross Section
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Figure 4. Deposit Model Cross Section
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Table of Results
| Target | Drillhole | Dip/ Azimuth |
From (m) |
To (m) |
Length (m) |
AuEq (g/t) |
Au (g/t) |
Ag (g/t) | Comments |
| Hercules | H20001 | -45/120 | 7.62 | 9.14 | 1.52 | 0.48 | 0.45 | 2.20 | |
| and | 51.82 | 53.34 | 1.52 | 0.47 | 0.43 | 3.80 | |||
| and | 71.63 | 74.68 | 3.05 | 0.47 | 0.43 | 2.60 | |||
| and | 129.54 | 146.30 | 16.76 | 0.26 | 0.24 | 1.73 | |||
| and | 156.97 | 161.54 | 4.57 | 0.22 | 0.21 | 1.03 | |||
| Northeast | H20002 | -45/120 | 1.52 | 47.24 | 45.72 | 0.36 | 0.33 | 1.87 | |
| Including | 32.00 | 36.58 | 4.57 | 0.94 | 0.90 | 3.27 | |||
| Loaves | H20003 | -45/120 | 57.91 | 64.01 | 6.10 | 0.50 | 0.40 | 7.30 | |
| and | 71.63 | 85.34 | 13.72 | 0.48 | 0.40 | 6.01 | |||
| and | 91.44 | 92.96 | 1.52 | 0.33 | 0.31 | 2.00 | |||
| Cliffs | H20004 | -45/115 | 60.96 | 73.15 | 12.19 | 0.40 | 0.35 | 4.05 | |
| Including | 60.96 | 65.53 | 4.57 | 0.66 | 0.62 | 3.13 | |||
| and | 106.68 | 121.92 | 15.24 | 0.41 | 0.39 | 1.50 | |||
| Including | 117.35 | 118.87 | 1.52 | 2.29 | 2.27 | 1.60 | |||
| and | 137.16 | 155.45 | 18.29 | 0.29 | 0.21 | 6.00 | |||
| and | 160.02 | 161.54 | 1.52 | 3.09 | 2.99 | 7.90 | Potential New Target | ||
| and | 166.12 | 167.64 | 1.52 | 0.39 | 0.38 | 0.25 | Potential New Target | ||
| and | 181.36 | 185.93 | 4.57 | 0.40 | 0.36 | 2.97 | Potential New Target | ||
| and | 192.04 | 193.54 | 1.52 | 1.46 | 1.45 | 0.9 | Potential New Target | ||
| Hercules | H20005 | -45/300 | 27.43 | 35.05 | 7.62 | 0.25 | 0.19 | 4.62 | |
| and | 54.86 | 59.44 | 4.57 | 0.37 | 0.35 | 1.80 | |||
| and | 71.63 | 76.20 | 4.57 | 0.59 | 0.56 | 2.63 | |||
| and | 82.30 | 94.49 | 12.19 | 0.41 | 0.37 | 2.49 | |||
| Rattlesnakes | H20006 | -55/120 | 15.24 | 38.10 | 22.86 | 0.35 | 0.32 | 1.93 | |
| Loaves | H20007 | -45/120 | No significant samples | ||||||
| Loaves | H20008 | -45/120 | 1.52 | 15.24 | 13.72 | 0.21 | 0.19 | 1.49 | |
| and | 30.48 | 94.49 | 64.01 | 0.26 | 0.22 | 2.79 | |||
| including | 82.30 | 86.67 | 4.37 | 0.00 | 0.00 | 0.00 | Fault – No Sample | ||
| Cliffs | H20009 | -45/120 | 0.00 | 74.68 | 74.68 | 0.60 | 0.54 | 4.78 | |
| Including | 4.57 | 16.76 | 12.19 | 1.18 | 1.04 | 10.48 | |||
| and | 54.86 | 71.63 | 16.76 | 1.36 | 1.24 | 9.83 | |||
| Hercules | H20010 | -45/120 | 27.43 | 117.35 | 89.92 | 0.81 | 0.65 | 12.51 | |
| Including | 51.82 | 82.30 | 30.48 | 1.45 | 1.10 | 27.37 | |||
| Hercules | H20011 | -45/300 | 19.81 | 21.34 | 1.52 | 0.34 | 0.32 | 1.80 | |
| and | 57.91 | 77.72 | 19.81 | 0.18 | 0.16 | 1.41 | Zone cut by late intrusive | ||
| and | 106.68 | 126.49 | 19.81 | 0.39 | 0.31 | 5.88 | |||
| Including | 112.78 | 118.87 | 6.10 | 0.83 | 0.62 | 16.33 | |||
| Hercules | H20012 | -45/120 | 19.81 | 79.25 | 59.44 | 0.68 | 0.59 | 6.74 | |
| Including | 19.81 | 25.91 | 6.10 | 1.05 | 0.84 | 16.48 | |||
*AuEq = Au + (Ag/77.7); no recovery factor has been applied
True thickness estimated to be between 60% and 80% of reported length
Length total may not tally exactly due to rounding
The interquartile range (25-75% of the population) of cyanide soluble assays ranged between 21-85% of fire assay gold, with a mean of 55% and a median of 59%. As expected, cyanide solubility generally decreases with depth.
Hole H20004 identified a potential new target to the east of previously drilled mineralization that the Company will be evaluating for future work. The Company currently is planning its next steps which in the near term will include geophysical surveys to identify extensions to the known mineralization.
Qualified Person
Dr. Warwick Board, P.Geo., Vice President of Exploration for Eclipse Gold Mining Corporation, and a qualified person (“QP”) as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
RC drillhole logging and sampling has been carried out by qualified geologists. RC samples, collected every 1.52 m, were transported in sealed bags by truck to the ALS Global Geochemistry Analytical Laboratory in Reno, Nevada, for sample preparation. Field control QAQC samples were inserted into the sample stream to provide a check on accuracy, precision, and cross contamination. Field control standards were inserted at a rate of one in 20 samples, with four standards being used. Field control blanks (barren granite chips) were inserted at a rate of one in 20 samples with an offset of ten samples from the field control standards. Field control duplicates were inserted at a rate of one in 40 samples. Final assaying was done in the ALS Global Geochemistry Analytical Laboratory in North Vancouver, BC for analysis. ALS Global Geochemistry Analytical Laboratories meet all the requirements and are accredited to ISO/IEC 17025:2017. Gold was determined by fire-assay fusion of a 30 g sub-sample with atomic absorption spectroscopy (AAS; Method Au-AA23). Overlimit samples of Au were assayed by gravimetric means (Au-GRA21). Cyanide-soluble gold was determined on 30 g sub-samples by cyanide leach with an AAS finish (Method Au-AA13). Multi-element data, including Hg and Se, were collected by Inductively Coupled Plasma Atomic Emission Spectroscopy and Inductively Coupled Plasma Mass Spectrometry (Methods ME-ICP61, Hg-MS42, Se-MS46). Analytical laboratory QAQC data are available for each batch analyzed on ALS Global’s Webtrieve service.
About Eclipse Gold Mining
Eclipse Gold Mining is exploring the district-scale Hercules gold property within Nevada’s Walker Lane trend. The Hercules property is located only a one hour drive from Reno, and appears to have all the characteristics of a large, low-sulphidation epithermal gold system. The Company brings together a team with collective funding of over $2 billion in both strong and weak markets, and a track record of at least nine successful buyouts/exits.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael G. Allen
President, CEO and Director
CORPORATE INQUIRIES:
Dylan Berg, VP Investor Relations
Company Website: www.eclipsegoldmining.com
+1 (844) 427-6453 Toll Free
+1 (778) 945-3949 Direct
Email: [email protected]
TSX.V: EGLD | OTC:EGLPF | ISIN: CA27888R1001 | WKN: A2PYV4
Forward looking and other cautionary statements
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This press release includes “forward-looking information” that is subject to a few assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding listing of the Company’s common shares on the TSXV are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions and general business conditions. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company’s final prospectus dated February 6, 2020 and filed under the Company’s profile on SEDAR at www.sedar.com. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.
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