The NAK Project lies within the Babine copper-gold porphyry district of central B.C. It has excellent infrastructure, being accessed by a network of active all-season logging roads, and being supported by proximity not only by nearby logging camps, but also by the vibrant town of Smithers B.C., through which a cross-Canada rail line and a major Provincial Highway (Hwy. 16) pass.

The property is also close to the past-producing Bell and Granisle open pit Cu-Au mines. Historical drilling and geophysical, geological and geochemical work at NAK, which began in the 1960’s, tested only to shallow depths, but the work revealed a very large near-surface copper-gold system that measures over 1.5 km x 1.5 km. Drilling by the Company in 2022 and 2023 has returned significant intervals of high grade copper-gold mineralization that lie beyond the extent of historical drilling, indicating that a number of zones of near surface and deeper mineralization, locally with considerably higher grades, exist within the broad NAK property mineralizing system.

Watch: NAK Technical Presentation with Project Advisor Charlie Greig – Click Here

2024 Primary Exploration Goals

1. Establish continuity of the Main Zone from south to north and validate the A-Typical Mineralization Thesis ✔
2. Validate and expand the high-grade surface Stockwork Zone - ✔
3. Investigate and establish the IP Embayment Target as a significant exploration target - ✔
4. Localize and target the system's feeder zone(s) 

Wildcards of the Year

• Further assess the potential continuity of the Main Zone to the north - ✔
• Investigate potential continuity of the Main Zone to the southeast - ✔
• Expand the IP Embayment Zone beyond expectations 
• Discover the source of the feeder zone target.

American Eagle is pleased to announce a significant discovery of outcropping copper mineralization at its NAK project in west-central B.C.  As a follow-up to an Induced Polarization survey conducted in 2024 that highlighted a new area of interest designated the IP Embayment Zone (“IPE Zone”).  American Eagle deployed field teams to the IPE Zone, where they discovered three widely separated outcrops of copper-bearing porphyry outcrops. (read more here).

Drilling in 2023 comprised 7884 m in 10 holes.  All holes encountered broad zones of copper-gold-molybdenum mineralization, and many holes encountered multiple discrete zones of very strong grade, exceeding 200 m in width

Near-surface mineralization at the south zone was expanded, and a new, high-grade zone at moderate depth was encountered in NAK23-08, 10, 11, 16, and 17

Drilling in the north zone established considerable lengths of very strong copper grade in holes NAK23-12 and NAK23-14, as well as a near surface zone of very strongly mineralized dyking in NAK23-12.

A bold step-out in NAK23-09, 650 m to the east of the south zone, encountered 600+ m of very strongly copper and gold-anomalous mineralization, confirming excellent exploration potential south of the Babine porphyry stock

Late-season IP surveying showed a strong correlation between coincident moderate chargeability and resistivity responses, and mineralization within sedimentary host rocks.

• NAK23-17, the final hole of the 2023 program, returned the strongest results from the NAK program to date, in the newly discovered western expansion of the south zone.
   
• Very strong, broad intercepts of copper, gold, and molybdenum returned 302 m @ 1.09 % CuEq (0.40% Cu, 0.53 g/t Au, and 0.046% Mo), within 450.67 m of 0.89 % CuEq, and 606 m of 0.74 % CuEq
   
• NAK23-17 indicates that the strong results encountered in NAK23-11 were not the result of drilling down a narrow mineralized corridor, as well as indicating that the strong grades between NAK23-11 and NAK23-08 are continuous, and trend much closer to surface to the west.

Links to Long Sections & New Video Update on All Drilling Holes

• Cross-section showing mineralization for NAK23-17
• Plan view of drilling to date at NAK
• Cross sections showing mineralization for NAK23-13 to -16
• Webinar with Neil Prowse and Charlie Greig on NAK’S Significance

The NAK property has excellent logistical advantages and can be accessed via well-maintained forest production roads from Topley Landing. The NAK copper-gold porphyry deposit occurs in the Stikine Island Arc Terrane, which hosts many copper porphyry deposits in British Columbia. In addition, NAK is associated with Babine Intrusive Suite, which is Eocene age and locally hosts the Bell, Granisle, Morrison, Hearne Hill and Dorothy/Duke copper-gold deposits.

The NAK Project is easily accessible from the mining Town of Smithers, located 80 km to the SW, and connected via highway and rail to major BC ports. BC Hydro powerlines reach the site of the Bell Mine processing plant, located just SW of the project.  

Exploration on the NAK dates back to the mid-1960s, and more than $9 million has been spent.

Historical Exploration

1964-1971: Noranda Exploration completed soil and geophysical surveying and 28 BQ holes for 1837m.

1973: Ducanex Resources conducted geophysical and geochemical surveying and 480m in 8 holes.

1993-1997: Hera Resources carried out IP and magnetic surveying and drilled 71 BQ holes for 13,311m. No core retained.

2008: Copper Ridge completed soil, IP and magnetic surveying and 1,265m in 5 NQ holes. Core retained and stored in Smithers.

2010-2014: Copper Ridge and Redtail Metals completed a helicopter ZTEM and magnetic survey comprising 1,083 line-km and ground IP and magnetics.

2016-2019: Generation Mining re-logging B08-04 holes, preliminary metallurgy and several generations of soil sampling 

2021: NAK Mining digitized, analyzed, reinterpreted and modelled all historical data for the first time on this property. Independent geophysical and geochemical analysis was completed for historical data. The company recently applied for a five-year, multi-hole drill permit.

2022: 6,000 metre, seven-hole drilling program.  Discovered broad intercepts of bornite-bearing copper-gold porphyry mineralization. 

2023: Drilling in 2023 comprised 7,884 m in 10 holes.  All holes encountered broad zones of copper-gold-molybdenum mineralization, and many holes encountered multiple discrete zones of very strong grade, exceeding 200 m in width

A considerable amount of geophysical surveying has been completed over the NAK property. The surveys included airborne EM and VLF undertaken by Noranda in the late 60s followed up with ground magnetics, IP and VLF which were undertaken over localized grids in the central part of the NAK Intrusive Complex. In 2008, a ground IP survey (lines in yellow on the RTP map) was conducted over the central and southern portions of the property. In 2010, a 502 line km helicopter ZTEM and magnetic survey was completed over 70% of the property which generated high quality data. In 2014, a second close-spaced helicopter magnetic survey was completed over the entire property and extended further to the southeast covering the Dorothy/Duke copper porphyry prospect now owned by Amarc Resources. The survey totaled 581 line km of which ~300 line km covered the NAK property.

In order to facilitate a direct comparison with the geology, inversion modelling was completed for the ZTEM and magnetic data. The reliable depth penetration for the ZTEM survey data was estimated at 1000 to 1200m and 2500-3000m for the magnetic data. The 2D ZTEM inversion clearly defines a north-north-west trending elliptical shaped resistivity high measuring 1100 x 700m and centered on the North and South copper zones. The 2DI resistivity high is also coincident with an elliptical-shaped ZTEM In-Phase 30Hz low which reflects the location of the silicic core of the younger mineralized porphyry stock. The 3D magnetic inversion delineates a small, high intensity anomaly centered on the South copper zone and coincident with a strong ZTEM resistivity high and In-Phase low.

The older diorite stock and overlying volcanics are characterized by a moderate to strong IP resistivity low flanked by a zone of high chargeability which is best developed on the eastern margin of the older intrusive complex and related to pyritic phyllic alteration. Geophysical modeling indicates the the South Copper Zone offers the best potential for higher copper grades below a depth of ~500m. Deeper drilling will focus on the coincident ZTEM resistivity and magnetic high located in the South Copper zone in the vicinity of drill holes B-5, 95-15 and 95-55. These holes intersected strong magnetite alteration with abundant bornite with a high Au:Cu ratio. A number of world class, copper-gold deposits including Grasberg, Batu Hijau, Red Chris, Southwest Oyu, Maricunga, Cascabel, and Cadia exhibit similar geological characteristics as NAK in that they are magnetite rich and have a high gold to copper ratio.

IP shows a crude horse-shoe chargeability high (pink) developed outboard from the potassic alteration zone which is indicated by coincident magnetic and ZTEM resistivity highs. In the classic copper porphyry model, the chargeability high represents the phyllic alteration zone which contains significant pyrite but generally does not constitute a high priority exploration target. The deeper resistivity high is developed on the western margin of the older diorite stock. The anomaly is elongated in a northwest direction and measures 2.0 x 1.5 km with the highest values associated with the North and South Copper zones. A second discreet resistivity high is located to the southeast and is coincident with a group of copper and gold soil anomalies, a 3DI magnetic and ZTEM resistivity high and is designated as the Embayment anomaly. Based on 3DI, the top of the magnetic high at the Embayment anomaly is estimated at a depth of 300-500m. This anomaly represents a high priority drill target and again is developed along the southern margin of the older diorite pluton.

Geophysical interpretation was derived from ground IP and airborne magnetic and ZTEM survey data. The airborne data was processed using 3D/2D inversion to provide a better rendition of the deeper geophysical targets. The priority drill sites were ranked based on the geophysical and geochemical anomaly attributes. Highest ranked targets are located in the North and South copper zones which were delineated by historical drilling. SCZ is associated with well-defined coincident ZTEM and magnetic highs.

Detailed analysis and processing of multi-element ICP soil data generated a total of 8 geochemical target areas. The priority drill sites were ranked based on the geochemical anomaly attributes only. The highest ranked targets are again located in the NCZ and SCZ defined by historical drilling.

The Embayment anomaly is very prospective owing to the fact that no drilling has been undertaken and the soil anomalies are located along the westen flank of a coincident moderate magnetic and ZTEM high. Close spaced soil sampling is recommended owing to wide 500m line spacing used in the past.

Disclosure: Copper Equivalent (CuEq) for drill intersections is calculated based on US$ 3.50/lb Cu, US$ 1,700/oz Au, US$ 20/oz Ag and US$ 21/lb Mo, with 80% metallurgical recoveries assumed for all metals* The formula is: CuEq % = Cu % + (0.7122 x Au g/t) + (0.0084 x Ag g/t) + (0.0006 x Mo ppm).

*Since it’s unclear what metals will be the principal products, assuming different recoveries is premature at this stage.  As such an 80% recovery rate is justified at this point in time.

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