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Re: News Release - Wednesday, February 17, 2010
War Eagle Announces Tres Marias Assay Results
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Vancouver, British Columbia - February 17, 2010 - War Eagle Mining
Company Inc. (TSXV - WAR) ("War Eagle" or the "Company") is pleased to
announce the results of an assay program conducted on the Tres Marias
drill core, located in Chihuahua, Mexico, from its 2008 drilling
program. As previously disclosed, the Company suspended its exploration
program at its Tres Marias property in February 2009 due to weak
resource prices and uncertainly in the financial markets. In the fall
of 2009, the Company undertook a fieldwork program to assay the drill
core in storage and had the core assayed in January and February 2010.
The assay program focused on mineralized drill intercepts in two areas
of the Tres Marias property that had been recognized but not sampled
due to the suspension of exploration activities in February 2009.
Drilling was done in the general mine area located south and west to
the former mine workings.
The "GO-series" holes were drilled from the mine-yard on surface down
into the historic mine during the fourth quarter of 2008. The
mineralization that was intersected by the surface GO drill holes is a
new zone that is located above the fifth level to the west of the
former mine workings.
Table 1 - Drill Results for GO-32 to GO-38
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Borehole From To Intercept Germanium Zinc Lead Iron
ID in metres ppm % % %
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GO-32 56.22 75.89 19.67 103 6.98 2.61 2.17
GO-32 62.28 75.89 13.61 111 8.06 2.50 2.88
GO-33 58.07 61.32 3.25 165 11.04 1.76 1.62
GO-33 77.05 79.67 2.62 107 9.40 0.87 20.00
GO-33 89.74 98.84 9.10 390 16.54 1.20 3.50
GO-34 76.50 92.52 16.02 391 28.77 1.89 4.36
GO-35 53.43 59.26 5.83 84 6.75 9.07 2.78
GO-36 58.90 60.20 1.30 216 15.00 0.91 8.80
GO-36 71.40 74.26 2.86 261 17.38 2.10 10.79
GO-36 76.67 81.60 4.93 154 10.98 0.82 2.90
GO-36 85.94 90.14 4.20 380 21.89 2.72 7.64
GO-37 58.85 61.54 2.69 154 11.62 1.17 7.64
GO-37 69.78 72.00 2.22 303 15.52 3.05 11.85
GO-37 75.70 86.15 10.45 140 19.31 0.65 2.32
GO-37 89.60 97.87 8.27 198 14.85 1.35 1.94
GO-38 54.42 56.15 1.73 172 18.00 9.58 2.18
GO-38 67.38 86.76 19.38 221 15.93 1.61 6.20
GO-38 89.40 90.90 1.50 209 15.00 1.61 9.32
The "TE-series" holes were drilled underground within the old workings
of the historic Tres Marias mine during the second half of 2008. The
mineralization intersected by the TE underground drill holes is
additional zones located beyond the former mine workings to the south.
Table 2 - Drill Results for TE-086 to TE-108
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Borehole From To Intercept Germanium Zinc Lead Iron
ID in metres ppm % % %
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TE-086 16.80 20.10 3.30 41 37.67 0.15 2.50
TE-087 0.00 8.90 8.90 20 47.50 0.04 0.57
TE-090 0.00 11.70 11.70 139 11.27 1.25 1.48
TE-092 0.00 6.00 6.00 68 33.64 0.16 2.14
TE-092 37.45 40.27 2.82 427 14.59 2.56 3.94
TE-092 44.00 45.00 1.00 423 27.43 3.71 2.83
TE-093A 19.20 21.93 2.73 24 18.43 0.12 1.30
TE-096 0.00 4.60 4.60 232 6.22 1.55 2.35
TE-097 6.30 8.25 1.95 410 39.86 3.36 3.69
TE-097 22.50 41.25 18.75 246 19.24 2.73 3.76
TE-098 12.70 16.70 4.00 65 8.09 0.81 13.40
TE-098 22.65 35.00 12.35 147 12.50 1.96 3.37
TE-098 36.70 42.40 5.70 285 21.41 3.04 15.24
TE-099 5.85 9.40 3.55 201 18.03 1.87 3.73
TE-099 16.70 28.80 12.10 291 21.67 3.06 11.67
TE-099 34.90 36.60 1.70 11 5.02 0.51 12.07
TE-100 0.00 1.40 1.40 35 5.24 0.61 2.51
TE-100 11.20 26.05 14.85 147 19.64 1.79 9.71
TE-100 29.30 34.35 5.05 166 16.03 2.18 10.08
TE-100 44.90 49.40 4.50 n/a 18.03 0.07 0.40
TE-101 18.45 21.50 3.05 138 9.21 0.86 1.27
TE-101 24.30 29.10 4.80 335 19.33 2.39 3.36
TE-101 29.60 30.00 0.40 290 19.10 2.29 2.85
TE-102 3.80 6.80 3.00 424 34.50 10.92 2.89
TE-102 8.15 9.04 0.89 400 38.06 3.84 2.64
TE-105 32.09 34.82 2.73 518 37.99 12.93 3.82
TE-105 37.61 39.00 1.39 5 27.62 0.16 0.16
TE-106 11.27 13.04 1.77 196 1.00 1.57 4.50
TE-106 16.17 17.27 1.10 179 1.00 4.02 9.75
TE-107 8.10 10.50 2.40 570 41.08 1.80 3.52
TE-107 11.43 13.36 1.93 72 23.00 0.23 0.54
TE-107 18.27 19.35 1.08 452 36.70 2.85 9.58
TE-107 29.69 34.93 5.24 400 20.31 3.33 3.22
TE-108 10.67 13.23 2.56 356 32.87 1.70 4.61
TE-108 15.22 19.74 4.52 404 35.34 6.32 11.27
As is normal, the Company undertook an assay program with blanks and
check assays. The Qualified Person, as defined below, reported that the
blanks lined up perfectly and the check assays were all acceptable.
The assay results were completed by Inspectorate in Durango, Texas
using four-acid digest and AA finish; SGS Lakefield processed the check
assays.
The Company plans to update its exploration plan and section maps of
the Tres Marias mine site incorporating the additional mineralization
located by this drill program.
The program was supervised by Mr. Alistair Logan, a qualified
geologist, reporting to Mr. Terry Schorn, P. Geo, the Qualified Person
for the Company, pursuant to the National Instrument 43-101, and who
has reviewed and approved the contents of this news release.
About War Eagle
War Eagle Mining Company Inc. is an experienced mineral exploration
company publicly traded since 1987 and listed on the TSX Venture
Exchange under the symbol WAR. The Company is in the exploration phase
of the Tres Marias germanium and zinc project in Mexico. Tres Marias is
a former producing high-grade germanium and zinc mine that first
produced ore in 1949.
For additional information please contact:
War Eagle Mining Company Inc.
Terry Schorn, Director
604-638-8073
Website: www.wareaglemining.com
Email: info@wareaglemining.com
This news release was prepared by management of War Eagle, which takes
full responsibility for its contents. Neither the TSX Venture Exchange
nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Legal Notice Regarding Forward Looking Statements
This disclosure contains certain forward-looking statements that
involve substantial known and unknown risks and uncertainties, certain
of which are beyond the Company's control including: the impact of
general economic conditions in the areas in which the Company operates,
industry conditions, changes in laws and regulations including the
adoption of new environmental laws and regulations and changes in how
they are interpreted and enforced, increased competition, the lack of
availability of qualified personnel or management, fluctuations in
commodity prices, foreign exchange or interest rates, stock market
volatility and obtaining required approvals of regulatory authorities.
In addition there are risks and uncertainties associated with mining
operations, therefore the Company's future results, performance or
achievements could differ materially from those expressed in these
forward-looking statements will transpire. All statements included in
this press release that address activities, events or developments that
the Company expects, believes or anticipates will or may occur in the
future are forward-looking statements. These statements include
references to a future drill program and related plans. These
statements are based on assumptions made by the company based on its
experience, perception of historical trends, current conditions,
expected future developments and other factors it believes are
appropriate in the circumstances.
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Copyright (c) 2010 WAR EAGLE MINING COMPANY INC. (WAR) All rights
reserved. For more information visit our website at
http://www.wareaglemining.com/ or send
mailto:news@sweetwatercapital.net
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War Eagle Mining Company Inc.
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EXPLORATION STAGE |
CODE : WAR.V |
ISIN : CA9339013083 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
War Eagle Mining is a silver and gold producing company based in Canada. War Eagle Mining holds various exploration projects in Mexico. Its main exploration properties are MAC and GEORGE'S LAKE in Canada and TRES MARIAS in Mexico. War Eagle Mining is listed in Canada and in United States of America. Its market capitalisation is CA$ 989 562 as of today (US$ 791 207, € 725 568). Its stock quote reached its highest recent level on March 05, 2010 at CA$ 2.60, and its lowest recent point on August 12, 2016 at CA$ 0.01. War Eagle Mining has 21 990 276 shares outstanding. |