Vancouver, British Columbia, Tuesday, September 1st, Eclipse Gold Mining Corporation (“Eclipse” or “the Company”) (TSXV:EGLD | USOTC:EGLPF) is pleased to announce the commencement of Phase II drilling at its Hercules Gold Project in Nevada’s Walker Lane trend.
A reverse circulation drill rig is now turning at the first target site of the Company’s Phase II program, which is planned to comprise 18 holes totaling approximately 6,750 meters. For further details of the Phase II drill program, please see the Company’s August 18, 2020 news release.
“Targeted drilling, guided by our recent Phase I drilling and ground IP geophysical survey results, should give us a greater understanding of the nature and scale of Hercules’s epithermal gold system,” noted Dr. Warwick Board, Vice President Exploration for Eclipse. “We are excited to be testing the Hercules Structural Zone as a potential feeder to the system, the possible link between the Cliffs and Hercules targets at depth, and the apparent thickening of the system to the south of these target areas”.
Further details on the Phase I drill program and ground IP geophysical survey are provided in the Company’s June 10 and July 21, 2020 press releases.
The Phase II drill program may be further refined based on the results of the electromagnetic (“EM”) survey currently being completed (See August 4, 2020 press release). Envirotech Drilling LLC of Winnemucca, NV is operating the current drill rig. COVID-19 procedures and precautions remain in place to ensure the safety of all site staff and contractors.
Airborne Geophysical Survey Update
The Company reports that almost 1,000 line kilometres have been completed of the 2,200 line kilometres planned for its Airborne Geophysical Survey. Final results are expected in September.
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.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael G. Allen
President, CEO and Director
Dylan Berg, VP Investor Relations
Company Website: www.eclipsegoldmining.com
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TSXV: EGLD | OTC:EGLPF | Frankfurt:43J | ISIN: CA27888R1001 | WKN: A2PYV4
Forward looking and other cautionary statements
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 the acceptance of the Offering by the TSXV; regulatory actions; general market conditions (including equity, commodity, foreign exchange and interest rate); increased funding costs and market volatility due to market illiquidity and competition for funding; operational outcomes (including technology and infrastructure); insurance; environmental conditions; capital adequacy; the general business and economic conditions in the regions in which the Company operates; the ability of the Company to execute on key priorities, including the successful development and exploration of its owned and optioned properties; the ability to implement business strategies and pursue business opportunities; the failure of third parties to comply with their obligations to the Company or its affiliates; the impact of new and changes to, or application of, current laws and regulations; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; and risks related to COVID-19 including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, nonessential business closures, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, and supply chains, and a deterioration of general economic conditions including a possible national or global recession. Such forward-looking information reflects the Company's views with respect to future events and is subject to further risks, uncertainties and assumptions, including those set out in the Company's final prospectus dated February 6, 2020 and the final prospectus dated June 29, 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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