11:56 AM EDT, 05/27/2024 (MT Newswires) -- American Eagle Gold ( AMEGF ) said Monday it began drilling under the company's 15,000-meter drill program at its NAK copper-gold porphyry property in central British Columbia.

The initial holes will test favorable geological and geophysical signatures, including resistivity and chargeability anomalies identified by a 2024 deep-looking induced polarization survey.

The company is launching the program with a single diamond drill rig, with a second rig to arrive within two weeks.

The drilling will continue into late 2024, and American Eagle has about $15 million, allowing it to expand the program based on results.

The company's shares were last seen down $0.03 to $0.70 on the TSX Venture Exchange.

Price: 0.70, Change: -0.03, Percent Change: -4.11