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The Eagle Mountain gold project is located in Guyana, South America’s only English speaking country, 200 kilometres southwest of the capital city Georgetown.
Infrastructure in the area is very good; the project is surrounded by several communities, including the Mahdia Township five kilometres north, which hosts a paved airstrip, essential services and a road leading directly to the deposit.
With a history of prolific alluvial mining totaling more than 1MM ounces of gold, and a known strike length of 2.3 km, the 5,050 hectare Eagle Mountain project possesses outstanding growth potential.
In 2010, Stronghold made a deal to acquire 95% of the Eagle Mountain project including existing project infrastructure, 20 employees experienced with the project and a wealth of historic exploration data, including more than 29,000 sample assays.
In 2011, Stronghold signed another option agreement with Mowasi Gold to earn up to a 95% interest in 8,500 hectares of additional claims adjacent to the Eagle Mountain project.
On Eagle Mountain, past exploration work has identified multiple, near surface, gold-bearing zones.
Key zones of interest include the Millionaire and Kilroy zones, which appear to be stacked on top of one another, and the Zion zone, located topographically higher up Eagle Mountain.
Acquisition of the project included an existing database of 197 drill holes completed by past operators, including IAMGOLD, which completed the 2010 resource estimate on the project.
The combined resource at Eagle Mountain totals 18 Mt inferred grading 1.27 g/t for a total of 733,500 oz Au at a 0.5 g/t cut off.
Adding to the rich history of drilling on the project, Stronghold has completed 78 drill holes in 10,887 metres since April 2011.
For example: Drill hole EMD 11-76 intersected 24.19 metres grading 9.1 g/t Au.
EMD11-77 intersected 42.2 m grading 0.97 g/t Au
EMD11-83 intersected 19.05 m at 3.13 g/t Au
and EMD11-85 intersected 7.5 m at 30 g/t Au, including 1.8 m at 118.54 g/t Au.
Significantly, the average gold grade of productive systems of the Guyana Shield region is known to be between 0.8 and 1.5 g/t Au for historic open pit mining.
Additionally, 250,000 ounces of Eagle Mountain’s known resource is hosted close to the surface in a layer of soft saprolite, which also indicates low cost open pit mining potential and lower processing costs.
Expanding the inferred mineral resource by drilling in-fill and step-out holes, along and across strike in three directions.
Confirm historic records of gold mineralized horizons by twinning older historic holes.
Upgrade the Inferred mineral resources to Indicated mineral resources.
And commence Phase I drilling on the newly acquired Mowasi Gold zone.
Additionally, in 2012 the company will update its current 43-101 mineral resource estimate, complete metallurgical and environmental studies and, starting in Q1 2012, commence work on a Preliminary Economic Assessment on both the saprolitic ore and the hard-rock potential.
Disclosure: No Positions