| | | Wed Feb 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
| Borehole ID |
From |
To |
Intercept
in metres |
Germanium
ppm |
Zinc % |
Lead % |
Iron % |
| 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
| Borehole ID |
From |
To |
Intercept
in metres |
Germanium
ppm |
Zinc % |
Lead % |
Iron % |
| 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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