Vancouver, British Columbia, Tuesday, April 7th, 2020. Eclipse Gold Mining Corporation ("Eclipse" or "the Company") (TSXV:EGLD) is pleased to announce the commencement of its maiden drill program on the Hercules Gold Project located in Lyon County, Nevada.
The Hercules gold property has seen considerable exploration work by multiple operators since the late 1800's. There are over 200 historic drill holes and, with recent work completed by Eclipse, there are now over 550 rock chip samples across the property. Eclipse has diligently acquired additional historic data and consolidated it into a single database for the first time in the property's history.
The Company's drill program consists of 11 holes into five separate, shallow gold targets, including the newly identified high-grade surface expression at the Hercules target (see news release dated March 10th, 2020). Total meterage to be drilled is estimated to be between 3,000 and 3,500 meters. The program has been designed to increase the understanding of the nature and potential scale of the mineralization at the selected targets and guide future drilling. This initial program will utilize a single reverse circulation drill rig.
Figure 1. Map of planned drill holes
Virtual Investor Conference
Eclipse is pleased to announce that Michael G. Allen, President, CEO and Director will present at Grit Capital's Masters of Mining Virtual Investor Webcast Conference Live tomorrow, April 8th, 2020 at 12:30pm EST. Pre-registration is recommended, and can be done here: https://event.on24.com/wcc/r/2249085/FDB234582BDFBD9835E785470D0D9297
Keynote speakers include Eric Sprott, Rick Rule, Ross Beaty and more.
This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event. It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates.
On March 20th, 2020 Nevada Governor Steve Sisolack issued a COVID-19 response directive. Mining was deemed an essential business and directed to adopt strict social distancing procedures and minimize contact with the public.
Eclipse worked with its employees and contractors to establish COVID-19 Standard Operating Procedures prior to the re-commencement of work on the Hercules Project.
The Company also adopted a work from home and no-fly policy for its office employees in mid-March. Our USA-based geological team live within driving distance of the Hercules Project. On site at the Hercules Gold Project, social distancing policies have been established which include, but are not limited to daily personal body temperature checks, and on-site separation between and amongst employees and contractors.
Plan of Operations Permit
This work will be carried out under the existing Plan of Operations permit for the Hercules project, which covers all five targets. This permit gives the Company the ability to complete follow-up, tighter-spaced drill programs on the property at any time. In addition, the Company has commenced work on the process to expand the existing Plan of Operations.
About Eclipse Gold Mining
Eclipse Gold Mining is exploring the district-scale Hercules Gold project in Nevada's Walker Lane Trend. Historic drilling and Company sampling have confirmed the presence of a large-scale epithermal gold-silver system. The Company has consolidated an approximately 85 km2 land package and has initiated systematic exploration. Eclipse 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 totalling more than $4.5 billion.
Dr. Warwick Board, 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.
Surface sampling on the project has been carried out by qualified geologists. Samples were transported in sealed bags by truck to the ALS Minerals sample preparation facility in Reno, Nevada. Final assaying was done in the ALS Minerals laboratory facility in North Vancouver, BC for analysis. ALS Minerals operate according to the requirements of ISO/IEC 17025:2005 and ISO 9001:2015. Gold was determined by fire-assay fusion of a 30 g sub-sample with atomic absorption spectroscopy (Method Au-AA23). Overlimit samples of Au were assayed by gravimetric means (Au-GRA21). Overlimit Ag were assayed four acid "ore grade" analysis (Ag-OG62). Multi-element data, including Hg was collected by ICP (ME-ICP61 and Hg-MS42).
ON BEHALF OF THE BOARD OF DIRECTORS
Michael G. Allen
President, CEO and Director
TSXV: EGLD | ISIN: CA27888R1001 | WKN: A2PYV4 | OTC: EGLPF
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. 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 6th, 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.