NEW* Business Television Interview with President Don Huston February 2010
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Vancouver, BC V6C 3E8 CANADA
This is a Gold find (Gold Eagle Mines Ltd.) that was a friendly takeover by Goldcorp! Of course, this is what our ultimate goal is, a buyout by Goldcorp or another major gold producer. Gold Eagle was an .18-.20 stock at one time before Gold was struck in one of Gold Eagle's mother holes! After a series of daughter holes this is the result below!
Gold Eagle Mines Ltd. (TSX: GEA) did over 85,000 metres of diamond drilling on the Bruce Channel deposit. The discovery is located approximately 800 metres beneath the shallow Bruce Channel waterway that separates McKenzie Island from the mainland. The current "footprint" of the BCD mineralized envelope is 1.45 kilometres vertically and horizontally, approximately 800 metres in a NE-SW direction and 450 metres in a NW-SE direction. Based on the exploration work done to date, there is an estimated 8-13 million ounces of gold in the Bruce Channel deposit and the mineralized envelope remains open in all directions.
In September of 2008, Goldcorp Inc. announced it acquired Gold Eagle Mines Ltd. valued at approximately $1.3 billion. Under the Plan of Arrangement, shareholders of Gold Eagle received at their election and subject to proration either C$13.60 in cash or 0.292 of a share of Goldcorp or any combination thereof, for each Gold Eagle share they held. Gold Eagle's principal asset was the Bruce Channel gold discovery.