Eagleone samples 0.156 ppm gold at Magusi West

Executive Summary

• Eagleone Metals Corp. released results from its Phase I exploration program at the Magusi West gold project in Quebec, located within the prolific Abitibi greenstone belt.
• The program involved ground geophysics (magnetometer, VLF-EM, IP), soil sampling, outcrop stripping, and geological mapping to identify lithogeochemical indicators for gold, copper, and zinc.
• Analysis identified three clusters of anomalous values, with the two most significant located in the southern half of the property near the Baie Fabie fault zone and associated diorite intrusions.

Key Details

• Geophysical Work: Conducted detailed ground geophysics including magnetometer, very low frequency electromagnetic (VLF-EM), and induced polarization (IP) surveys.
• Sampling Scope: Collected 618 soil samples across various regions of the project, along with outcrop stripping, channel sampling, and whole rock sampling.
• Soil Sample Highlights:
  • Gold: 10 samples assayed ≥0.02 ppm Au, with a high of 0.156 ppm.
  • Copper: 7 samples assayed ≥100 ppm Cu, with a high of 186 ppm.
  • Zinc: 21 samples assayed ≥150 ppm Zn, with a high of 200 ppm.
• Geochemical Analysis: Response ratios and geochemical probability plots identified three clusters of anomalous values. The uniformity of values is attributed to silt- and clay-rich soil derived from glaciolacustrine sediments (varved clays) from Lake Ojibway.
• Target Identification:
  • Western Cluster: Located north of and partially flanking the Baie Fabie fault zone, near a synvolcanic diorite intrusion.
  • Eastern Cluster: Flanks the Baie Fabie fault zone in association with a diorite body; extends ~600m south of the fault and ~700m east-west.
• Next Steps: Consulting geologists recommend creating color plan maps (50m, 100m, 150m) of resistivity and chargeability IP data, including subsurface depth slices. These will be overlaid with magnetics, EM conductors, and soil data to identify specific diamond drill targets, particularly those coinciding with or up-ice from the soil anomaly clusters.
• Challenges: Exploration in the southern region is challenging due to extensive clay cover, limiting outcrop exposure at the most interesting diorite-volcanic contact.
• Qualified Person: Allan MacTavish, MSc, PGeo, reviewed and approved the technical content in compliance with National Instrument 43-101.

Notable Quotes

• "Examination of the soil survey analytical results (both raw data and response ratios) demonstrates that the values obtained were uniform. This is most likely due to the sampled surface layer being primarily derived from silt- and clay-rich soil formed from the extensive, unconsolidated glaciolacustrine sediments (often varved clays) deposited by the immense postglacial Lake Ojibway."
• "The two most interesting clusters are located within the southern half of the property... The larger eastern cluster flanks the Baie Fabie fault zone in close association with a potentially synvolcanic diorite body intruding andesite and rhyolite."