Eagle Hill Exploration Corporation announce that the company has entered into two option agreements with Freewest Resources Canada Inc. and Murgor Resources Inc. to acquire a 100% interest in 184 Murgor/Freewest Windfall Lake Claims (the “184 Murgor/Freewest Windfall Lake Claims”) and the remaining 50% interest in the 29 Murgor/Freewest joint venture Windfall Lake claims (the “29 Murgor/Freewest Joint Venture Claims”). The size of Eagle Hill’s Windfall Lake camp would be 10,991 hectares.
Murgor Resources Inc. announces that it has completed a private placement by issuing an aggregate 4,442,222 units at a price of $0.09 to SIDEX Limited Partnership, La Société de Développement de la Baie-James and to two “accredited investors” in Canada and elsewhere, for an aggregate gross proceeds to Murgor of Can$399,800. The proceeds from the private placement will be used for exploration on Murgor’s gold properties in Québec and for working capital purposes. Murgor is starting a new exploration phase at its Windfall Gold Property this week. Murgor and equal joint venture partner Freewest Resources Canada Inc. are planning extensive mechanical trenching followed by a drilling program of up to 3,000 meters in the next four months. Murgor is focussing its exploration efforts on gold-bearing NE-trending structures that remain largely unexplored. The targets include the strike extensions of an intersection of 1,327.9 g/t (42.8 ounces) gold over 4.80 meters approximately 200 meters south of the Windfall property boundary.
Geologists on site report significant occurrences of visible gold at Windfall Lake; both in mineralized muck and in situ on the ramp wall on the westerly extension of the F-17 zone. The gold observed in the ramp wall was initially thought to be a thin plate extending over an irregular area measuring 1 cm by 2 cm. Upon removal for safekeeping, gold was found to form a film or mesh, permeating the host rock and exposed on broken surfaces for areas up to 8 x 10 cm. The visible gold is hosted by a silicified, pyritic volcanic rock which forms the immediate hanging wall of a quartz breccia unit. The gold forms irregular plates that form part of the matrix in the granular-looking host rock. The gold occurrences reported herein are not expected to be representative of the gold
mineralization at Windfall Lake overall.
