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Eagle Plains Resourc (EPL)
0.165 ? 0.0 (0.00%)
Volume: 0 @- ET
Bid Ask Day's Range
0.15 0.165 - - -
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Eagle Plains Resourc (EPL)
0.21 ? -0.015 (-6.67%)
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Eagle Plains Resourc (EPL)
0.24 ? 0.02 (9.09%)
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Eagle Plains Resourc (EPL)
0.26 ? 0.02 (8.33%)
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0.25 0.26 0.24 - 0.26
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Eagle Plains/Bethpage Capital Corp Execute Option Agreement for Hall Lake Property, South-eastern British Columbia
http://finance.yahoo.com/news/Eagle-PlainsBethpage-Capital-bw-2075567110.html?x=0&.v=1
Eagle Plains Resourc (EPL)
0.29 ? 0.015 (5.45%)
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0.275 0.295 0.27 - 0.29
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Eagle Plains Resourc (EPL)
0.255 ? -0.015 (-5.56%)
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Eagle Plains Resourc (EPL)
0.51 ? -0.03 (-5.56%)
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0.5 0.54 0.5 - 0.54
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Eagle Plains Resourc (EPL)
0.53 ? 0.0 (0.00%)
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0.53 0.54 0.5 - 0.53
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NEWS FEB. 1, 2011 -News for 'EPL.V/EGPLF.PK' - (Eagle Plains Enters into Agreement with Aben Resources on Two
Yukon Properties and Northwest Territories Permits)
CRANBROOK, British Columbia, Feb 01, 2011 (BUSINESS WIRE) -- Eagle Plains
Resources Ltd. (EPL:TSX-V) and Aben Resources Ltd. (TSX-V:ABN) (formerly
Consolidated Abaddon Resources Inc.) have entered into an Acquisition Agreement
whereby Aben will acquire a 100% interest in two non-contiguous mineral
exploration properties known as the Hit and Justin (Sprogge) projects, covering
approximately 2,130 hectares located in the eastern Yukon Territory (the "Yukon
Claims").
Pursuant to the terms of the Acquisition Agreement, Aben Resources has also
acquired a proprietary database owned by Eagle Plains and the right to certain
potential prospecting permits in the Mackenzie Mountain area of the Northwest
Territories (the "Permits"). The Permits are subject to an approval process and,
if approved, Aben will be granted the exclusive right to stake claims in the
Permit areas for up to a period of three years.
Upon receipt of acceptance of the Acquisition Agreement by the TSX Venture
Exchange, Aben Resources will issue a total of 5,000,000 common shares to Eagle
Plains. Aben will also make a cash payment of approximately $150,000 to
reimburse Eagle Plains for the Northwest Territories permitting costs. The
approximately $150,000 will be paid upon receipt of confirmation that the
Permits have been granted and duly registered in the name of Aben Resources.
The Yukon Claims and any property to be acquired by staking in the Permit areas
shall be subject to a three percent (3%) net smelter return royalty ("NSR") in
favour of Eagle Plains. Aben Resources has been granted a right to purchase a 2%
NSR at any time prior to commencement of commercial production for the
consideration of $2,000,000 (the "Buy Down Option").
The Justin (Sprogge) Gold Property
The Justin (Sprogge) gold property is located in east-central Yukon Territory
about 35 kilometres south of the recently re-opened Cantung Mine. The property
consists of 25 claims and is host to numerous styles of intrusive and
sediment-hosted gold mineralization located within three main bulk-tonnage
target areas. The drill-ready property has the potential to host both high-grade
and bulk-tonnage gold mineralization. Historical grab samples from the property
reported up to 59.25 g/t Au, in addition to historical chip samples returning an
average of 2.38 g/t Au over 22.5 metres. Numerous targets on the property remain
to be tested with further exploration planned, including trenching and diamond
drilling.
The Hit Gold Property
The Hit gold property is located in central Yukon Territory, 27 kilometres
north-northeast of MacMillan Pass. The project targets skarn/replacement gold
mineralization associated with Tombstone-Suite intrusives and surrounding
carbonate-rich sediments. Property highlights include intrusive-related gold
mineralization which returned an average of 7.85 g/t Au over 7.0 metres in
trenches.
The above transactions are subject to the acceptance of the TSX Venture
Exchange.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects
throughout western Canada. In addition to holding mining royalties on various
projects, Eagle Plains controls over 35 gold, base-metal and uranium projects,
several with third parties including Excelsior Mining Corp (TSX:MIN.P),
Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd.
(TSX-V:SND), Providence Capital Corp., Waterloo Resources Ltd. (TSX-V:WAT.P),
Windstorm Resources Inc., 0802906BC Ltd. (a private B.C. company); Heemskirk
Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW), Active Growth Capital
(TSX-V:ACK) and 99 Capital Corp. (TSX-V:WDG). In recent years, Eagle Plains has
completed option agreements with Teck Limited (TSX:TCK.B), Alexco Resource Corp.
(TSX-V:AXR), Billiton Metals, Rio Algom Exploration, NovaGold Resources,
Kennecott Exploration and numerous other junior exploration companies, resulting
in over 57,100m (187,288') of drilling and over $31.5 million in exploration
spending on its projects since 1998.
Expenditures during 2010 on Eagle Plains' projects were approximately
$3,240,000, funded by Eagle Plains and third party partners. This work resulted
in approximately 3,580m of drilling and extensive ground-based exploration work
and facilitated the advancement of numerous projects at various stages of
development.
Signed,
"Tim J. Termuende" President and CEO
Cautionary Note Regarding Forward-Looking Statements
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. This news release
may contain forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and conditions
and therefore, involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.
SOURCE: Eagle Plains Resources Ltd.
CONTACT:
Eagle Plains Resources Ltd.
Mike Labach, 1-866-HUNT-ORE (486-8673)
mgl@eagleplains.com
http://www.eagleplains.com
Eagle Plains Resourc (EPL)
0.66 ? -0.04 (-5.71%)
Volume: 386,068 @ 3:57:47 PM ET
Bid Ask Day's Range
0.65 0.67 0.65 - 0.7
TSX:EPL Detailed Quote
Jan 19 News for 'EPL.V/EGPLF' - (Providence Capital Announces Strategic Investment)
VANCOUVER, BRITISH COLUMBIA, Jan 19, 2011 (MARKETWIRE via COMTEX) -- Providence
Capital Corp. (TSX VENTURE: PV) ("Providence" or the "Company") wishes to
announce that it has arranged a non-brokered private placement of 1,000,000
shares at a price of $4.00 per share with Teck Resources Limited ("Teck") for
total proceeds of $4,000,000.
The proceeds from this strategic investment will facilitate a more aggressive
work program on the Iron Range Project, under which Providence holds the option
to earn a 60 percent interest from Eagle Plains Resources Ltd. ("Eagle Plains").
In addition, Teck will provide access to additional technical support and
organizational expertise. As the owner and operator of the historic Sullivan
Mine, Teck brings a wealth of geological experience invaluable to the Iron Range
Project.
Providence and Eagle Plains continue to test structural features and the
stratigraphic interval known to host the Sullivan deposit, located 70km to the
north. Current drilling is targeting both precious metal and base metal
mineralization, following up on the recent program which intersected two
intervals of gold-bearing massive sulphide mineralization, the lower interval
which resides at a stratigraphic position interpreted to be at or near the same
interval which hosts the Sullivan deposit (see PV/EPL news release December
21st, 2010).
"With the combination of Teck's historic knowledge and experience within the
surrounding area and the skilled geological personnel of our partner Eagle
Plains, we have a world class exploration and development team that will now be
well funded throughout 2011," stated Steve Bajic, President of Providence.
An additional term of Teck's investment in Providence provides Teck an option to
increase its interest in the Company to 9.9% by completing an additional private
placement. This option may be triggered as follows:
Providence may provide notice to Teck at any time after at the later of (i)
three months after the closing of the current private placement; or (ii) after
Providence incurs additional expenditures of $1,600,000 on the Iron Range
project, at which point Teck may elect to exercise the option or let it expire.
The pricing of the additional placement in the Company will be at a price per
share equal to a 40% premium to a 10 day trading average; or (ii) a 10% to 40%
premium (based on certain conditions) to the price of any coinciding third party
financing announced by Providence at the time of the notice.
Should the Company not provide Teck notice as outlined above prior to the later
of (i) nine months after the closing of the current private placement; or (ii)
upon Providence incurring an aggregate of $3,400,000 in additional expenditures
on the Iron Range project, Teck may elect to increase its interest in the
Company to 9.9% at a price per share equal to a 40% premium to a 5 day trading
average. If Teck fails to exercise this right, the option to increase its
interest to 9.9% expires.
Teck also has the right to maintain its percentage ownership in the Company by
participating in future financings during a two year period provided that it
holds at least a 3% shareholding in the Company. Teck has also been granted a
right of first offer on the Iron Range project should the Company wish to sell
its interest in the project during the same period.
Tim J Termuende, President and CEO of Eagle Plains, stated recently, "We welcome
the participation of Teck to this exciting project. The confidence shown by
Teck's current involvement coupled with its considerable financial and technical
capabilities can only serve to significantly benefit the project as it moves
forward."
Providence will also establish a Technical Advisory Committee which will include
personnel from Teck, Eagle Plains and Terralogic Exploration Services to serve
as a forum through which all parties can engage and review work programs,
budgets, and results.
Providence holds the option to earn a 60 percent interest in the Iron Range
Property by spending $3-million on exploration, making $500,000 in cash payments
and issuing one million shares to EPL over four years. Approximately $700,000
has been spent to date as contemplated by the Joint Venture Agreement with Eagle
Plains Resources.
In connection with the private placement and subject to regulatory approval, the
Company may pay finder's fees in cash or securities to eligible finders in
accordance with the policies of the TSX Venture Exchange. All securities will be
subject to a four month hold period.
Iron Range project summary
The Iron Range deposits were originally staked in 1897, and were covered by
Crown Grants held by Cominco Ltd. and the Canadian Pacific Railway. Eagle Plains
staked the current claims immediately after the Crown Grants reverted in 2000,
and have been exploring the property since then. Exploration work to date
includes geological mapping, geochemical surveys, diamond drilling and a
690-line-kilometre airborne geophysical survey. The Iron Range project is owned
100 per cent by Eagle Plains and holds no underlying royalties or encumbrances.
An additional 35,800 hectares of claims were added to the existing land package,
resulting in a total of 56,200 ha -- an area approximately 11 km by 50 km. The
land package now covers over 30 km of the Iron Range structure, most of it
unexplored.
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.
Contacts:
Providence Capital Corp.
Steve Bajic
President
(604) 628-5614
(604) 662-7950 (FAX)
www.providencecapital.ca
SOURCE: Providence Capital Corp.
CONTACT: http://www.providencecapital.ca
Eagle Plains Provides Analytical Results from Reverse Circulation Drill Program at Yellowjacket Project, Northwestern BC
Cranbrook, B.C., January 06, 2011: Eagle Plains Resources Ltd. (EPL:TSX-V) has received complete analytical results for the 2010 reverse circulation drill program at the Yellowjacket project. In the fall of 2010, Eagle Plains conducted a 64-hole drill program at the Yellowjacket property using a reverse circulation (“RC”) drill rig. A total of 2181 meters in 64 holes was completed over a 30 day period. The drilling consisted of a series of shallow, closely spaced angle holes designed to delineate mineralization and structural controls and to test an area designated for the next open pit mining phase.
RC Drill Highlights:
• L100E-60B:
• 10.19-16.28m : 6.09m @ 26.8 g/t Au
• Including 13.23-15.27m: 2.04m @ 78.71g/t Au
• Also Including 14.25-15.27m: 1.02m @ 138.26g/t Au
• L077E-48A:
• 27.68-38.85m : 11.17m at 5.83g/t Au
• Including 27.68-29.71m: 2.03m at 6.02g/t Au
• Also Including 27.68-28.69m: 1.01m at 10.53g/t Au
• Including 36.82-38.85m: 2.03m at 25.12g/t Au
• Also Including 37.84-38.85m: 1.01m at 46.63g/t Au
• L076E-18A:
• 8.07-16.81m : 8.74m @ 7.73 g/t Au
• Including 12.75-14.78m: 2.03m @ 30.48g/t Au
*intervals interpreted to approximate true thickness
http://www.eagleplains.bc.ca/
Eagle Plains Provides Analytical Results from Reverse Circulation Drill Program at Yellowjacket Project, Northwestern BC
January 06, 2011
CRANBROOK, British Columbia, Jan 06, 2011 (BUSINESS WIRE
) --
Eagle Plains Resources Ltd. (EPL:TSX-V) has received complete analytical results for the 2010 reverse circulation drill program
Read More >>
http://www.tradingmarkets.com/symbols/EPL
Eagle Plains Provides Analytical Results from Reverse Circulation Drill Program at Yellowjacket Project, Northwestern BC
Posted on: Thu, 06 Jan 2011 09:15:00 EST
http://www.tradingmarkets.com/news/press-release/egplf_epl_eagle-plains-provides-analytical-results-from-reverse-circulation-drill-program-at-yellowjacket-proj-1406531.html
News Jan. 6, 2010 - News for EPL.V/EGPLF.PK - (Eagle Plains Provides Analytical Results from Reverse
Circulation Drill Program at Yellowjacket Project, Northwestern BC)
Cranbrook, British Columbia CANADA, Jan 06, 2011
(Filing Services Canada via COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF - OTCBB_Pink_Sheets), has received complete analytical results for the 2010 reverse circulation drill program at the Yellowjacket project.
In the fall of 2010, Eagle Plains conducted a 64-hole drill program at the Yellowjacket property using a reverse circulation ("RC") drill rig.A total of 2181meters in 64 holes was completed over a 30 day period. The drilling consisted of a series of shallow, closely spaced angle holes designed to delineate mineralization and structural controls and to test an area designated for the next open pit mining phase.
RC Drill Highlights:
* L100E-60B:
* 10.19-16.28m : 6.09m @ 26.8 g/t Au
* Including 13.23-15.27m: 2.04m @ 78.71g/t Au
* Also Including 14.25-15.27m: 1.02m @ 138.26g/t Au
* L077E-48A:
* 27.68-38.85m : 11.17m @ 5.83g/t Au
* Including 27.68-29.71m: 2.03m @ 6.02g/t Au
* Also Including 27.68-28.69m: 1.01m @ 10.53g/t Au
* Including 36.82-38.85m: 2.03m @ 25.12g/t Au
* Also Including 37.84-38.85m: 1.01m @ 46.63g/t Au
* L076E-18A:
* 8.07-16.81m : 8.74m @ 7.73 g/t Au
* Including 12.75-14.78m: 2.03m @ 30.48g/t Au
*intervals interpreted to approximate true thickness
Detailed Description of Drilling
The 2010 drill program targeted an area directly east of the 2009 pit extension.
The tight-spaced drill grid was designed to test the projected pit to a bedrock
depth of 25 meters. The data from the program will be used to build geologic
models for pit design and grade control. The area of the Pine Creek fault zone
that was drilled defined a wedge-shaped package of volcanics (andesites and
lamprophyres) sandwiched within carbonate-altered ultramafics, and bounded below
by a major fault zone.
Two main gold bearing zones were identified. Gold mineralization is associated
with quartz stockwork and intense Fe-carbonate alteration within the ultramafic
rocks and within quartz-stockwork associated with silicified and pyritic
volcanic rocks.
Chuck Downie, P.Geo VP Exploration states that "we are encouraged by the
presence of two relatively continuous, near surface mineralized gold zones
within the area of the next pit. The tight-spaced drilling will give us a very
detailed geologic model which will greatly enhance the effectiveness of grade
control during our mining operation".
-------------------------------------------------------------------------
Table of Selected 2010 Drill Results
-------------------------------------------------------------------------
HoleOrderFrom_MTo_MIntersection
Number
-------------------------------------------------------------------------
L064E-42A 25.64 28.693.05m at 21.24g/t Au
-------------------------------------------------------------------------
L064E-42A Including 26.66 27.681.02m at 48.21g/t Au
-------------------------------------------------------------------------
L066E-24A 21.38 24.423.04m at 10.39g/t Au
-------------------------------------------------------------------------
33.57 34.58 1.01m at 5.69g/t Au
-------------------------------------------------------------------------
L070E-24A 25.64 26.66 1.02m at 7.44g/t Au
-------------------------------------------------------------------------
L070E-30A 20.8729 8.13m at 4.91g/t Au
-------------------------------------------------------------------------
Including 27.9829 1.02m at 31.4g/t Au
-------------------------------------------------------------------------
L073E-54A 31.3932.4 1.01m at 3.33g/t Au
-------------------------------------------------------------------------
L076E-18A8.07 16.81 8.74m at 7.73g/t Au
-------------------------------------------------------------------------
Including 12.75 14.782.03m at 30.48g/t Au
-------------------------------------------------------------------------
L076E-24A 18.84 20.87 2.03m at 5.79g/t Au
-------------------------------------------------------------------------
L076E-54A 41.69 42.71 1.02m at 5.22g/t Au
-------------------------------------------------------------------------
L077E-42A 33.63 36.67 3.04m at 3.74g/t Au
-------------------------------------------------------------------------
L077E-48A 27.68 38.8511.17m at 5.83g/t Au
-------------------------------------------------------------------------
Including 27.68 29.71 2.03m at 6.02g/t Au
-------------------------------------------------------------------------
Also Including 27.68 28.691.01m at 10.53g/t Au
-------------------------------------------------------------------------
Including 36.82 38.852.03m at 25.12g/t Au
-------------------------------------------------------------------------
Also Including 37.84 38.851.01m at 46.63g/t Au
-------------------------------------------------------------------------
L082E-30A 20.42 21.441.02m at 10.26g/t Au
-------------------------------------------------------------------------
L082E-36A 23.26 25.292.03m at 4.2g/t Au
-------------------------------------------------------------------------
L088E-18A 12.23 13.25 1.02m at 3.22g/t Au
-------------------------------------------------------------------------
L088E-30A 18.79 19.81 1.02m at 3.01g/t Au
-------------------------------------------------------------------------
L088E-42A 22.29 23.31 1.02m at 6.58g/t Au
-------------------------------------------------------------------------
L088E-64A 8.19.11 1.01m at 3.48g/t Au
-------------------------------------------------------------------------
30.45 31.46 1.01m at 2.89g/t Au
-------------------------------------------------------------------------
L088E-64B5.92 13.03 7.11m at 2.25g/t Au
-------------------------------------------------------------------------
Including6.937.95 1.02m at 8.42g/t Au
-------------------------------------------------------------------------
L094E-24A 12.29 13.31 1.02m at 3.25g/t Au
-------------------------------------------------------------------------
L094E-30A 14.53 15.54 1.01m at 9.45g/t Au
-------------------------------------------------------------------------
L094E-36A 10.1911.2 1.01m at 11.8g/t Au
-------------------------------------------------------------------------
L100E-24A8.33 10.362.03m at 12.11g/t Au
-------------------------------------------------------------------------
L100E-48A 17.63 22.71 5.08m at 3.05g/t Au
-------------------------------------------------------------------------
Including 18.64 19.66 1.02m at 7.74g/t Au
-------------------------------------------------------------------------
L100E-60B 10.19 16.28 6.09m at 26.8g/t Au
-------------------------------------------------------------------------
Including 13.23 15.272.04m at 78.71g/t Au
-------------------------------------------------------------------------
Also Including 14.25 15.27 1.02m at 138.26g/t Au
-------------------------------------------------------------------------
L106E-56A 11.14 12.161.02m at 8.8g/t Au
-------------------------------------------------------------------------
The drilling was oriented perpendicular to the known structural trends and it is
believed that most of the drill intercepts represent true widths of the
mineralized zones.
A detailed history of the project, including complete 2010 drill results and
locations, and a photo-gallery may be found at
http://www.eagleplains.com/projects/bc/yellowjacket/index.asp
Analytical Details and QAQC
Sampling started at the surface with the overlying placer material and the
bedrock / placer interface sampled separately from the bedrock. Bedrock cuttings
were sampled continuously over 1.016m intervals.In total, 1590 bedrock samples
and 171 placer material samples were sent to Stewart Group of Kamloops, BC, an
ISO17025 accredited analytical facility,for Au-4 500g Screen Metallic Assay.
QAQC: External QAQC samples, consisting of blanks, Au standards, and sample
duplicates, were routinely introduced into the sample chain of custody. A total
of 188 check samples were also sent to ALS-Chemex of Vancouver, BC for check
analysis via 500g Screen Metallic Assay. Statistical analysis of the QAQC and
check data for Au data was completed and the results are consistent with all
analytic procedures completed by Stuart Group being well within acceptable
parameters.
Geological exploration contracting services on the Yellowjacket property during
2010 were provided by TerraLogic Exploration of Cranbrook, B.C., (a wholly-owned
subsidiary of Eagle Plains), Merlin Geosciences Inc. of Atlin, BC and the Atlin
Tlingit Development Corporation. Reverse circulation drilling was contracted to
Northspan Exploration of Kelowna, B.C.
Overall project supervision was done by C.C. Downie, P.Geo., hereby designated
as a qualified person under National Instrument 43-101 and who also reviewed and
approved technical aspects of this news release.
Yellowjacket Project Summary
The Yellowjacket Project is located 9 km east of Atlin, BC and is accessed by
all-season road. Hydro-electric power is located within 5km of property
boundaries. The project received a B.C. Mines Act permit in July, 2009 for an
open pit gold mine and onsite 400 ton per day mill and concentrator, processing
up to 75,000 tons per year. The Permit contemplates a 7-9 year mine life from a
series of open pits entirely within an area of disturbed placer workings. Since
the recent completion of the buy-out from Prize, Eagle Plains owns a 100%
interest in both mineral (hard-rock) and placer rights within the project area.
(see EPL news release August 19th, 2010). In October 2009, Eagle Plains and
Prize announced the formal ratification of an Impact and Benefits Agreement with
the Taku River Tlingit First Nation.
The property is known to host significant gold mineralization. Gold is
erratically distributed throughout the Yellowjacket structural zone such that
accurate exploration and economic assessment of the property is challenged by a
pronounced "nugget effect".
Project History
In 1983, local area prospectors staked the area of the Yellowjacket Property and
then optioned portions of the property to Canova Resources and Tri-Pacific
Resources. During 1984 and 1985 these companies conducted programs of ground
geophysics, rotary, and diamond drilling. In 1986 Homestake Mineral Development
Company optioned the property from Canova and initiated programs of mapping,
reverse circulation drilling and diamond drilling.
In 1988, Homestake completed a ground geophysical program which consisted of 5.5
kilometres of magnetic and VLF-EM surveys. By 1988, Homestake Mining Company
outlined the Yellowjacket Zone, a mineralized area containing significant gold
intercepts over 2 kilometres by drilling 58 diamond drill holes to depths up to
183m of which gold was intercepted to 140m depth.
As a result of this work, Homestake estimated an historical resource estimate of
453,500 tonnes grading 10.26 grams per tonne gold (BC Dept Mines Open File
2000-2 page 41). (These are historical figures and do not currently comply with
NI 43-101, though they are considered by management to be relevant and form a
basis for future exploration of the Property)
Muskox Minerals Corp. (renamed Prize Mining Corporation) optioned the property
in late 2003 and began exploration in December of that same year to further
outline the extent, nature, grade and geometry of gold mineralization at the
Yellowjacket Zone. 41 holes were drilled in 2003-2004, thirteen of which
encountered coarse gold that yielded assay intercepts similar to those obtained
by Homestake. Muskox reported significant gold intersections (among others) of
up to:*
80.3 grams per tonne over 38.94 meters including 513.5 grams per tonne over
5.56 metres in drill hole YJ03-01
80.5 grams per tonne over 30.83 meters including 2397 grams per tonne over
0.91 meters in drill hole TW05-02, a twin hole to YJ03-10
40.10 grams per tonne over 6.10 metres in drill hole YJ04-07
142.40 grams per tonne over 1.0 metres in drill hole YJ04-20
156.95 grams per tonne over 0.5 metres in drill hole YJ04-22
(*press releases, November 15, 2004 and February 03, 2005)
In 2004, Canamera Geoscience Corp. under contract to Muskox conducted an
airborne geophysical survey over the Property. A total of 820 line kilometres of
airborne survey were flown by helicopter, using 50 metre spaced flight lines.
In 2005, Muskox/Prize performed a 50km magnetic survey which delineated three
zones: Yellowjacket, Rock of Ages and Gold Run. Six holes were drilled in the
Yellowjacket Zone and 1.5 kilometres to the southwest, three holes were drilled
in the Rock of Ages Zone, for a total of 895 metres.
In 2006, Muskox/Prize commenced an exploration bulk sampling program, which
included diversion of Pine Creek, overburden/placer tailings excavation,
construction of a 400 ton-per-day milling facility, bedrock mapping and channel
sampling, bedrock excavation and processing. In 2007, Prize reported production
of 6.43 kilograms (206.9 ounces) of gold produced from sluicing the
placer-bedrock interface material excavated during bulk sample excavation. In
2008, Prize processed 4200 tonnes of material. Of this material, 2880 tonnes
were considered to be taken from the main mineralized zone and returned gold
bars totaling 18.63 kilograms (599 ounces). About 800 kilograms of low grade
gold concentrates from 2008 remain and are estimated to contain approximately
1.5 kilograms (50 ounces) of gold. These gold volumes back-calculate, using a
formula that allows for smelting and processing plant recoveries, to a head
grade of approximately 9 g/t gold.
In 2009, Eagle Plains and Prize contracted Barry Price, P.Geo. and Linda Dandy,
P.Geo. to complete a 43-101 compliant technical report which summarize
development of the property to date. The report identifies that "Based on the
results of the exploration and development conducted to date on the Property,
the authors conclude that the Yellowjacket Gold Zone represents a legitimate
development target with the potential to host an economically feasible mineral
deposit. Such potential is not quantifiable and can only be verified by
additional exploration and development work."
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects
throughout western Canada. In addition to holding mining royalties on various
projects, Eagle Plains controls over 35 gold, base-metal and uranium projects,
several with third parties including Excelsior Mining Corp (TSX:MIN.P), Drexel
Capital Corp (TSX-V:DX.P), Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm
Metals and Energy Ltd. (TSX-V:SND), Providence Capital Corp., Waterloo Resources
Ltd. (TSX-V:WAT.P), Windstorm Resources Inc., 0802906BC Ltd. (a private B.C.
company); Heemskirk Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW), Active
Growth Capital (TSX-V:ACK) and 99 Capital Corp. (TSX-V:WDG). In recent years,
Eagle Plains has completed option agreements with Teck Limited (TSX:TCK.B),
Alexco Resource Corp. (TSX-V:AXR), Billiton Metals, Rio Algom Exploration,
NovaGold Resources, Kennecott Exploration and numerous other junior exploration
companies, resulting in over 53,600m (163,370') of drilling and over $28.3
million in exploration spending on its projects since 1998.
Expenditures during 2008 and 2009 on Eagle Plains' projects were approximately
$7,300,000, funded by Eagle Plains and third party partners. This work resulted
in approximately 6,900m of drilling and extensive ground-based exploration work
and facilitated the advancement of numerous projects at various stages of
development.
Signed,
"C.C. (Chuck) Downie"
VP Exploration
For further information on EPL, please contact:
Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com
or visit our website at http://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
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. This news release
may contain forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and conditions
and therefore, involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
Maximum News Dissemination by Filing Services Canada Inc. *
www.usetdas.com
DEC 21, NEWS FOR EPL.V/EGPLF.PK - Analytical Results from
Diamond Drill Program at Iron Range Project, Southeastern BC
(Eagle Plains/Providence Capital Provide Analytical Results from
Diamond Drill Program at Iron Range Project, Southeastern BC)
Cranbrook, British Columbia CANADA, Dec 21, 2010 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF -
OTCBB_Pink_Sheets), and Providence Capital Corp. (TSX-V:PV)have received
complete analytical results for Holes IR10-005 and IR10-010, which are
considered to contain the best mineralization observed to date of the 2010
program. Since September, the partners have completed ten diamond drill holes
for a total footage of 10,945 feet (3,337m). The partners continue to test
structural features and the stratigraphic interval known to host the Sullivan
deposit, located 70km to the north. Current work is targeting both precious
metal and base metal mineralization.
Highlights:
* Hole IR10-010 intersected two intervals of gold-bearing massive sulphide
mineralization. The lowermost zone consists of finer grained, gold-bearing
massive sulphide material at a depth of 275.5.0-279.5m (truncated by a fault)
within similar host rocks and at a stratigraphic position interpreted to be at
or near the same interval which hosts the Sullivan deposit. The structural
setting, alteration assemblages (tourmalinite, albite) and accessory minerals
encountered (cadmium, antimony, tin, bismuth, boron, copper) are also consistent
with those associated with Sullivan and other sedimentary-exhalative ("sedex")
deposits.
* Selected intervals from Hole 10 include:
* 192.0-206.0m (upper sulphide interval): 14.0m @ 5.1g/t Au, 1.86%
Pb, 2.1% Zn, 75.3g/t Ag
* Including 196.9-204.0m: 7.1m @ 8.13g/t Au, 2.84% Pb, 3.07% Zn, 86.6g/t Ag
* Also Including 196.9-198.5m: 1.6m @ 9.9g/t Au, 6.06% Pb, 7.18% Zn, 181.0g/tAg
* Also Including 201.4-204.0m: 2.6m @ 8.4g/t Au, 2.6% Pb, 2.54% Zn, 56.4g/t Ag
* 224.0-280.5m: 56.5m @ 1.9g/t Au, 0.44% Pb, 0.59% Zn, 21.5g/t Ag
* Including 240.0-245.0m: 5.0m @ 3.7g/t Au, 1.34% Pb, 0.13% Zn, 69.2g/t Ag
* Including 272.0-280.5m: 8.5m @ 6.0g/t Au, 1.45% Pb, 2.56% Zn, 47.8g/t Ag
* Also including 277.5-279.5m (lower sulphides-interpreted Sullivan time
horizon): 2.0m @ 12.8g/t Au, 4.18% Pb, 5.06% Zn, 122.5g/t Ag; elevated Cd, Sb,
Sn, Bi, B, Cu
* Holes IR10-005 and IR10-010 are located near a major transportation corridor;
with rail, road, gas and hydro-electric power situated within 3km from the drill
collar locations.
Widths of altered and mineralized intervals are apparent thicknesses only. True
thicknesses will be established with the completion of additional drilling.
Detailed Drill-hole Descriptions
IR10-005: Length: 394.72m, azimuth 260?, angle -80?. Upper 95m is altered and
brecciated quartzite, with lesser siltstone to 135m which marks the onset of
fracture hosted sulphides and strong alteration to 163m. Lesser alteration
offiner grained sediments occurs to 210m, underlain by 95m of increased
alteration and numerous veins and veinlets variably with sulphides to 305m.
Sixteen metres of mineralized breccia mark the interval to the top of the Lower
Aldridge Formation at 321m. Minor albite and tourmaline with disseminated
sulphides occur over the interval to the base of the hole at 394.7m
Complete analytical results from Hole IR10-005 have been returned, and include
the following highlights:
* 62.5-89.5m: 27.0m @ 0.644g/t Au, 0.14% Pb, 0.19% Zn, 13.0g/t Ag
* *Including 74.5-78.5m: 4.0m @ 1.488g/t Au, 0.30% Pb, 0.15% Zn, 22.5g/t Ag
* *Including 86.5-87.5m: 1.0m @ 6.05g/t Au, 0.56% Pb, 0.35% Zn, 33.9g/t Ag
* *144.0-163.0m:19.0m @ 0.841g/t Au, 8.7g/t Ag
* *Including 148.0-155.0m: 7.0m @ 1.793g/t Au, 0.3% Pb, 0.59% Zn, 15.7g/t Ag
* Including 151.0-154.0m: 3.0m @ 3.17g/t Au, 0.42% Pb, 1.11% Zn, 22.9g/t Ag
* 276.0-320.0m: 44.0m @ 0.355g/t Au
* Including 300.0-320.0m: 20.0m @ 0.543g/t Au
* Also Including 306.0-309.0m: 3.0m @ 0.951g/t Au
* Previously reported in EPL/PV news release December 1st, 2010
IR10-010: Length: 345.6m, azimuth 040?, angle-70?. Upper third is oxidized,
fractured, and intensely altered. Weak disseminated mineralization in veins
occurs to 183m, underlain by 23m of mineralized breccia and local sections of
massive sulphide to 208m.(see EPL/PV news release December 1, 2010). Mineralized
fractures, veins and brecciation of varying intensity occur over 68m to the
lower massive sulphide intercept at 275.5-279.5m, which is interpreted to lie at
Sullivan Time. Faulted section of Middle Aldridge sediments, with local
alteration and weak mineralization occurs to the base of the hole.
Drill-holes IR10-001 to 004 were located over 1000m from holes reported herein
and returned no significant economic mineralization, though contained important
alteration minerals associated with sedex style deposits (see EPL/PV news
release November 16th, 2010). Analytical results from Holes IR10-006 to -009
will be reported in future updates, but are not expected to return significant
values. Portions of oxide material observed in some holes will be re-analyzed
using a screened-metallic process to test for the presence of coarse
gold.Results of this work will be reported at a later date. Petrographic and
lead-isotope dating is planned for the massive sulphide intervals in an attempt
to better understand the origin and mode of mineralization as well as the timing
of the emplacement of the lead.These studies could have significant implications
for the potential of the area and the methodology of future exploration.
Tim J. Termuende, President and CEO of Eagle Plains Resources stated recently
that "we are encouraged by results received from Holes IR10-005 and IR10-010.The
presence of gold mineralization over significant widths coupled with massive
sulphides containing lead, zinc and silver with key accessory minerals at our
target horizon underscores the potential of the Iron Range property and provides
the impetus for further work. Our partners are both aggressive and well-funded
and share our enthusiasm for the project"
A complete data package, including analytical results, drill-hole sections,
strip-logs, collar locations and drill-hole orientations, geophysical data and
drill-core photographs is available on the Eagle Plains website at:
http://www.eagleplains.com
Additional diamond drilling is planned for the property in early 2011. A
$500,000 Phase 2 program is intended to commence in mid- to late January.The
objective of the program will be to further delineate the mineralized zone
encountered in Holes IR10-005 and IR10-010 and to gain an understanding of the
geometry and structural controls of the zone. Down-hole geophysical surveys are
currently being contemplated. Contingent on favourable results, Phase 3 work
will follow immediately thereafter, with a budget to be determined.
Conference Call
The partners are planning to host a conference call on Tuesday, December 21st at
9:00am PST. Tim Termuende, President and CEO of Eagle Plains and Jim Ryley and
Dave Pighin of TerraLogic Exploration will be present to answer questions. The
call will be recorded and will be available on the Eagle Plains website for
later review.
Participanttoll-free dial-in number (North America): 1-866-809-5793
Iron Range Project Summary
The Iron Range deposits were originally staked in 1897 and were covered by Crown
Grants held by Cominco Ltd. and the Canadian Pacific Railway.Past work on the
Iron Range deposits by Cominco focused on the considerable iron oxide resource
with trenching and very shallow (20m depth) diamond drilling along the Iron
Range Mountain ridge.Eagle Plains staked the current claims immediately after
the Crown Grants reverted in 2000 and have been exploring the property since
then. Exploration work to date includes geological mapping, geochemical surveys,
diamond drilling and a 690 line-km airborne geophysical survey.
Drill programs were carried out by Eagle Plains in 2005 and 2008. Drilling on
the property in 2008 intersected gold mineralization including drill hole
IR08006, which returned 7.0m grading 51.52 g/t (1.50 oz/ton) gold from 20.0m to
27.0m (see EPL news release dated April 20th, 2009). This intercept is located
approximately 10km north of 2010 drilling locations. Swift Resources optioned
the property in late 2009 and completed a total of 580 m of drilling in 7 holes.
One hole was drilled in close proximity to IR 08006 and returned 1.0m grading
7.53 g/t gold. (see EPL news release dated March 5th, 2010). Swift subsequently
relinquished their option on the property.
DDH IR05-03, drilled in 2005, was collared 175m away from DDH IR10-10 and
returned values of 3.82 g/t Au and 46g/t Ag over a 2m interval (see EPL NR June
13, 2005). The mineralization encountered in this hole was associated with a
silicified, veined and altered breccia unit with associated galena, sphalerite
and arsenopyrite, and appears to be similar to material observed in the current
drill-holes as described above.
The Iron Mountain structure has been mapped with widths of up to 150m and a
strike length of over 50km.Copper and gold mineralization has been discovered
previously along the structure, highlighting the potential for iron-oxide
copper-gold ("IOCG") mineralized systems associated with the structure.The
claims also overlie rocks of the Aldridge Formation, including the same
stratigraphic time horizon which hosts the world-class Sullivan deposit located
70km to the northeast.Over its 100 year lifetime, Sullivan produced
approximately 150,000,000 tonnes of ore including 300,000,000 ounces of silver,
8,000,000 tonnes of zinc and 8,000,000 tonnes of lead, collectively worth over
$30 billion at current metal prices.The parties caution that past results or
discoveries on proximate land are not necessarily indicative of the results that
may be achieved on the Iron Range property.
Analytical Details and QAQC
All material was shipped to ISO17025-accredited AGAT Laboratories in Vancouver
for rush analysis. Core samples were analyzed via AquaRegia / ICP-OES
multi-element analysis and 30g Fire Assay / AAS analysis for gold.
Over-detection limit results for base metals (>10000ppm) and silver (>100 ppm)
were reanalyzed utilizing AquaRegia / ASS techniques. Due to the presence of
significant intercepts of semi-massive to massive sulphides in hole IR10-010,
the interval from 192.0m to 280.5m was also analyzed via a sodium peroxide
fusion / ICP-OES analysis for a variety of base metals
QAQC: Blank material and 3 different base metal and precious metal standards
were routinely introduced into the sample chain of custody for analysis.
Statistical analysis of the QAQC data was completed for Au, Pb, Zn and Ag and
the results are consistent with all analytic procedures completed by AGAT being
within acceptable parameters.
Geological exploration contracting services on the Iron Range property during
2010 are being provided by TerraLogic Exploration of Cranbrook, B.C. (a
wholly-owned subsidiary of Eagle Plains). Diamond drilling is being carried out
by F.B. Drilling of Cranbrook, B.C. All fieldwork is under the supervision of
geologist J.K. Ryley while C.C. Downie, P.Geo. is hereby identified as the
overall project supervisor. Technical aspects of this news release have been
reviewed and approved by T.J. Termuende, P.Geo., hereby designated as a
qualified person under National Instrument 43-101.
Providence Option Agreement
The Iron Range project is owned 100% by Eagle Plains and holds no underlying
royalties or encumbrances. Providence holds the option to earn a 60% interest in
the Property by spending $3,000,000 on exploration, making $500,000 in cash
payments and issuing 1,000,000 shares to EPL over 4 years. As announced on
November 2nd, an additional 35,800 ha of claims were added to the existing land
package, resulting in a total of 56,200 ha - an area approximately 11km x 50km.
The land package now covers over 30km of the Iron Range structure; most of it
unexplored.
About Providence Capital
Providence Capital Corp. is a junior mining exploration company focused on
delivering shareholder value through project acquisition and
development.Currently the company is focused on its Iron Range Project in
British Colombia, Canada.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects
throughout western Canada. In addition to holding mining royalties on various
projects, Eagle Plains controls over 35 gold, base-metal and uranium projects,
several with third parties including Excelsior Mining Corp (TSX:MIN.P),
Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd.
(TSX-V:SND), Providence Capital Corp., Waterloo Resources Ltd. (TSX-V:WAT.P),
Windstorm Resources Inc., 0802906BC Ltd. (a private B.C. company); Heemskirk
Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW), Active Growth Capital
(TSX-V:ACK) and 99 Capital Corp. (TSX-V:WDG). In recent years, Eagle Plains has
completed option agreements with Teck Limited (TSX:TCK.B), Alexco Resource Corp.
(TSX-V:AXR), Billiton Metals, Rio Algom Exploration, NovaGold Resources,
Kennecott Exploration and numerous other junior exploration companies, resulting
in over 53,600m (163,370') of drilling and over $28.3 million in exploration
spending on its projects since 1998.
Expenditures during 2008 and 2009 on Eagle Plains' projects were approximately
$7,300,000, funded by Eagle Plains and third party partners. This work resulted
in approximately 6,900m of drilling and extensive ground-based exploration work
and facilitated the advancement of numerous projects at various stages of
development.
On behalf of the Board of Directors of Eagle Plains, we would like to wish
everyone a Merry Christmas and all the best in the coming year.
Signed,
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE
(486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
On behalf of the Board of Directors of Providence Capital Corp.,
Signed,
"Steve Bajic"
President and CEO
For further information on PV, please contact Steve Bajic at (604) 628-5614
or visit our website at www.providencecapital.ca
Cautionary Note Regarding Forward-Looking Statements
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. This news release
may contain forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and conditions
and therefore, involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
Maximum News Dissemination by Filing Services Canada Inc. *
www.usetdas.com
URL: http://www.useTDAS.com
Friday, DEC 10, 2010 News for 'EGPLF.PK' - (Eagle Plains Grants Incentive Options to Directors, Employees, Contractors)
Cranbrook, British Columbia CANADA, Dec 10, 2010 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF -
OTCBB_Pink_Sheets), has granted incentive stock options to directors and
employees of the company for the purchase of a total of 1,890,000 shares at the
exercise price of $1.00 per share, expiring December 10th, 2015.
On behalf of the Board of Directors
Signed
"Tim J. Termuende"
President and CEO
For further information, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
DEC 1, 2010 - News for EPL.V/'EGPLF' - (Eagle Plains/Providence Capital Provide Update on Drill Program
at Iron Range Project, Southeastern BC)
Cranbrook, British Columbia CANADA, Dec 01, 2010 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF -
OTCBB_Pink_Sheets), and Providence Capital Corp. (TSX-V:PV)have now completed
ten diamond drill holes for a total footage of 10,945 feet (3,337m). Drilling
activity has been suspended pending receipt of analytical results, but is
expected to resume following the Christmas holidays. The partners continue to
test the stratigraphic interval known to host the Sullivan deposit, located 70km
to the north. Current work is targeting both precious metal and base metal
mineralization and is funded by Providence Capital under terms of an option
agreement.
The partners are encouraged by observations made to date of existing
drill-cores.Hole IR10-05 encountered wide, intermittent intervals from surface
to a depth of 278m containing breccia textures and intensive silica and albite
alteration. Associated sulphide mineralization includes iron sulfides and
arsenopyrite (a mineral often associated with gold). Intervals 148.0m to 163.0m
(15.0m) and 270.0m to 278.0m (8.0m) were particularly enriched with lead-zinc
sulphide mineralization. Hole IR10-07 returned similarly altered and mineralized
material from 142.0m to 155.0m.Hole IR10-10 hosted the most intensely-altered
and mineralized material, with semi-massive to massive sulphide mineralization
including galena (lead) and sphalerite (zinc) reported over two intervals from
191.0m to 202.0m and from 276.0m to 279.0m. The lower massive sulphide interval
is overlain by a 55m zone of disseminated to net-textured mineralization within
intensely altered rock. The base of the lowermost massive sulphide appears to be
truncated by a fault. Significant in the lower interval was the location of the
massive sulphide mineralization, which is interpreted to be at or near the
Lower-Middle Aldridge contact, the stratigraphic horizon which hosts the
Sullivan deposit. The hole was terminated in rocks interpreted to be of the
Lower Aldridge Formation.
A portion of the altered material from Hole IR10-05 was sent for rush assay
analysis in order to confirm the presence of suspected gold mineralization. The
interval from 62.5m-89.5m returned 0.64 g/t over 27m, including:
* 74.5m to 78.5m: 1.49 g/t gold and 22.5 g/t silver over 4.0m
* 86.5m to 87.5m: 6.05 g/t gold and 33.9 g/t silver over 1.0m
The interval from 144.0m to 163.0m returned .84g/t gold over 19.0m, including
* 148.0m to 155.0m: 1.80 g/t gold and 15.7 g/t silver over 7.0m, including 3.17
g/t gold and 22.9 g/t silver over 3.0m
Widths of altered and mineralized intervals are apparent thicknesses only. True
thicknesses will be established with the completion of additional drilling.
Drilling by Eagle Plains on the property in 2008 intersected gold mineralization
including drill hole IR08006, which returned 7.0m grading 51.52 g/t (1.50
oz/ton) gold from 20.0m to 27.0m (see EPL news release dated April 20th, 2009).
DDH IR05-03, drilled in 2005, was collared 175m away from DDH IR10-10 and
returned values of 3.82 g/t Au and 46g/t Ag over a 2 m interval (see EPL NR June
13, 2005). The mineralization encountered in this hole was associated with a
silicified, veined and altered breccia unit with associated galena, sphalerite
and arsenopyrite, and appears to be similar to material observed in the current
drill-holes as described above.
Additional staff have been added to the project crew to assist in core-logging
and sampling operations. Analytical results will be forthcoming as they are
received, compiled and interpreted.
The Iron Range project is owned 100% by Eagle Plains and holds no underlying
royalties or encumbrances. Providence holds the option to earn a 60% interest in
the Property by spending $3,000,000 on exploration, making $500,000 in cash
payments and issuing 1,000,000 shares to EPL over 4 years. As announced on
November 2nd, an additional 35,800 ha of claims were added to the existing land
package, resulting in a total of 56,200 ha - an area approximately 11km x 50km.
Iron Range Project Summary
The Iron Range property consists of 56,200 hectares. The claims are
well-situated with respect to infrastructure with a high-pressure gas pipeline,
high-voltage hydroelectric line, railway and major highway all located within
property boundaries.
The Iron Mountain structure has been mapped with widths of up to 150m and a
strike length of over 50km.Claims held by Eagle Plains cover over 30km of the
structure, with significant iron-oxide mineralization occurring over 15km.Copper
and gold mineralization have been discovered along the structure, highlighting
the potential for iron-oxide copper-gold ("IOCG") mineralized systems associated
with the structure.The claims also overlie rocks of the Aldridge Formation,
including the same stratigraphic time horizon which hosts the world-class
Sullivan Deposit located 70km to the northeast.Over its 100 year lifetime,
Sullivan produced approximately 150,000,000 tonnes of ore including 300,000,000
ounces of silver, 8,000,000 tonnes of zinc and 8,000,000 tonnes of lead,
collectively worth over $25 billion at current metal prices.The parties caution
that past results or discoveries on proximate land are not necessarily
indicative of the results that may be achieved on the Iron Range property.
A map outlining pertinent details of the property may be found at:
http://www.eagleplains.ca/projects/bc/ironrange/documents/iron_range_compilation_map.pdf
Property History
The Iron Range deposits were originally staked in 1897 and were covered by Crown
Grants held by Cominco Ltd. and the Canadian Pacific Railway.Past work on the
Iron Range deposits by Cominco focused on the considerable iron oxide resource
with trenching and very shallow (20m depth) diamond drilling along the Iron
Range Mountain ridge.Eagle Plains staked the current claims immediately after
the Crown Grants reverted in 2000 and have been exploring the property since
then. Exploration work to date includes geological mapping, geochemical surveys,
diamond drilling and a 690 line-km airborne geophysical survey.
Drill programs were carried out by Eagle Plains in 2005 and 2008. Swift
Resources optioned the property in late 2009 and completed a total of 580 m of
drilling in 7 holes. One hole was drilled in close proximity to IR 08006 and
returned 1.0m grading 7.53 g/t gold. (see EPL news release dated March 5th,
2010). Swift subsequently relinquished their option on the property.
Fieldwork completed on the Iron Range property during 2010 is being carried out
under the supervision of geologist J.K. Ryley. C.C. Downie, P.Geo. is hereby
identified as the overall project supervisor. Technical aspects of this news
release have been reviewed and approved by T.J. Termuende, P.Geo., hereby
designated as a qualified person under National Instrument 43-101.
About Providence Capital
Providence Capital Corp. is a junior mining exploration company focused on
delivering shareholder value through project acquisition and
development.Currently the company is focused on its Iron Range Project in
British Colombia, Canada.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects
throughout western Canada. In addition to holding mining royalties on various
projects, Eagle Plains controls over 35 gold, base-metal and uranium projects,
several with third parties including Excelsior Mining Corp (TSX:MIN.P),
Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd.
(TSX-V:SND), Providence Capital Corp., Waterloo Resources Ltd. (TSX-V:WAT.P),
Windstorm Resources Inc., 0802906BC Ltd. (a private B.C. company); Heemskirk
Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW) and 99 Capital Corp.
(TSX-V:WDG). In recent years, Eagle Plains has completed option agreements with
Teck Limited (TSX:TCK.B), Alexco Resource Corp. (TSX-V:AXR), Billiton Metals,
Rio Algom Exploration, NovaGold Resources, Kennecott Exploration and numerous
other junior exploration companies, resulting in over 53,600m (163,370') of
drilling and over $28.3 million in exploration spending on its projects since
1998.
Expenditures during 2008 and 2009 on Eagle Plains' projects were approximately
$7,300,000, funded by Eagle Plains and third party partners. This work resulted
in approximately 6,900m of drilling and extensive ground-based exploration work
and facilitated the advancement of numerous projects at various stages of
development.
On behalf of the Board of Directors
Signed,
"Tim J. Termuende"
President and CEO
For further information, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
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. This news release
may contain forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and conditions
and therefore, involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
Maximum News Dissemination by Filing Services Canada Inc. *
www.usetdas.com
URL: http://www.useTDAS.com
NOV. 16 - News for EPL.V/EGPLF - (Eagle Plains/Providence Capital Provide Update on Drill Program
at Iron Range Project, Southeastern BC)
CRANBROOK, British Columbia, Nov 16, 2010 (BUSINESS WIRE) -- Eagle Plains
Resources Ltd. (EPL:TSX-V) and Providence Capital Corp. (TSX-V:PV) have now
completed six diamond drill holes for a total footage of 2368.0m A seventh hole
was collared on November 15th and is now underway. As announced on November 2nd,
an additional 35,800 ha of claims were added to the existing land package,
resulting in a total of 56,200 ha -- an area approximately 11km x 50km. The
partners continue to test the stratigraphic interval known to host the Sullivan
deposit, located 70km to the north. Current exploration work is funded by
Providence Capital.
The decision to expand the budget and continue exploration follows the
intersection in Hole IR10-02 located at or near the Sullivan time horizon
containing pervasive tourmaline and albite-altered sediments interlayered with
discrete conformable bands of pyrite, pyrrhotite (iron) and chalcopyrite
(copper) sulphides (see news release October 12th, 2010). Further encouragement
was seen recently in Hole IR10-05, located approximately 1.2km from IR10-02. In
Hole IR10-05, visible lead-zinc mineralization was intersected over two separate
intervals (151.0m to 156.0m and 276.0m to 278.0m). This mineralization, though
not layered as is seen in the Sullivan deposit, is interpreted by Eagle Plains
geologists to potentially represent remobilized material from a yet-undiscovered
primary source. Rocks in the area- both on surface and in drill-core are
extensively albite-altered, which is consistent with the alteration assemblage
located proximal to the Sullivan deposit. Core logging and sampling of these
mineralized intervals is currently underway.
The Iron Range project is owned 100% by Eagle Plains. Providence holds the
option to earn a 60% interest by spending $3,000,000 on exploration, making
$500,000 in cash payments and issuing 1,000,000 shares to EPL over 4 years.
Iron Range Project Summary
The Iron Range property consists of 56,200 hectares and has no underlying
royalties or encumbrances. The claims are well-situated with respect to
infrastructure with a high-pressure gas pipeline, high-voltage hydroelectric
line, railway and major highway all located within property boundaries.
The Iron Mountain structure has been mapped with widths of up to 150m and a
strike length of over 50km. Claims held by Eagle Plains cover over 30km of the
structure, with significant iron-oxide mineralization occurring over 15km.
Copper and gold mineralization have been discovered along the structure,
highlighting the potential for iron-oxide copper-gold ("IOCG") mineralized
systems associated with the structure. The claims also overlie rocks of the
Aldridge Formation, including the same stratigraphic time horizon which hosts
the world-class Sullivan Deposit located 70km to the northeast. Over its 100
year lifetime, Sullivan produced approximately 150,000,000 tonnes of ore
including 300,000,000 ounces of silver, 8,000,000 tonnes of zinc and 8,000,000
tonnes of lead, collectively worth over $25 billion at current metal prices. The
parties caution that past results or discoveries on proximate land are not
necessarily indicative of the results that may be achieved on the Iron Range
property.
A map outlining pertinent details of the property may be found at:
http://www.eagleplains.ca/projects/bc/ironrange/documents/iron_range_compilation_map.pdf
Property History
The Iron Range deposits were originally staked in 1897 and were covered by Crown
Grants held by Cominco Ltd. and the Canadian Pacific Railway. Past work on the
Iron Range deposits by Cominco focused on the considerable iron oxide resource
with trenching and very shallow (20m depth) diamond drilling along the Iron
Range Mountain ridge. Eagle Plains staked the current claims immediately after
the Crown Grants reverted in 2000 and have been exploring the property since
then. Exploration work to date includes geological mapping, geochemical surveys,
diamond drilling and a 690 line-km airborne geophysical survey.
Eagle Plains completed diamond drilling programs in 2005 and 2008, testing
primarily for base-metal mineralization. A number of holes from these programs
intersected gold mineralization, including drill hole IR08006, which returned
7.0m grading 51.52 g/t (1.50 oz/ton) gold from 20.0m to 27.0m (see EPL news
release dated April 20th, 2009).
Swift Resources optioned the property in late 2009 and completed a total of 580m
of drilling in 7 holes. One hole was drilled in close proximity to IR 08006 and
returned 1.0m grading 7.53 g/t gold. (see EPL news release dated March 5th,
2010).
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects
throughout western Canada. In addition to holding mining royalties on various
projects, Eagle Plains controls over 35 gold, base-metal and uranium projects,
several with third parties including Excelsior Mining Corp (TSX:MIN.P),
Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd.
(TSX-V:SND), Providence Capital Corp., Waterloo Resources Ltd. (TSX-V:WAT.P),
Windstorm Resources Inc., 0802906BC Ltd. (a private B.C. company); Heemskirk
Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW) and 99 Capital Corp.
(TSX-V:WDG). In recent years, Eagle Plains has completed option agreements with
Teck Limited (TSX:TCK.B), Alexco Resource Corp. (TSX-V:AXR), Billiton Metals,
Rio Algom Exploration, NovaGold Resources, Kennecott Exploration and numerous
other junior exploration companies, resulting in over 53,600m (163,370') of
drilling and over $28.3 million in exploration spending on its projects since
1998.
Expenditures during 2008 and 2009 on Eagle Plains' projects were approximately
$7,300,000, funded by Eagle Plains and third party partners. This work resulted
in approximately 6,900m of drilling and extensive ground-based exploration work
and facilitated the advancement of numerous projects at various stages of
development.
Fieldwork completed on the Iron Range property during 2010 is being carried out
under the supervision of J.K. Ryley. Technical aspects of this news release have
been reviewed and approved by T.J. Termuende, P.Geo., hereby designated as a
qualified person under National Instrument 43-101.
On behalf of the Board of Directors
Signed,
"Tim J. Termuende" President and CEO
Cautionary Note Regarding Forward-Looking Statements
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. This news release
may contain forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and conditions
and therefore, involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.
SOURCE: Eagle Plains Resources Ltd.
CONTACT:
Eagle Plains Resources Ltd.
Mike Labach, 1-866-HUNT-ORE (486 8673)
mgl@eagleplains.com
NOV.4 News for EPL.V 'EGPLF' - (Eagle Plains Reports Results on Sprogge Gold Project, Yukon Territory)
Cranbrook, British Columbia CANADA, Nov 04, 2010 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF -
OTCBB_Pink_Sheets), has received and compiled analytical results from its 100%
owned Sprogge project, located within the Tintina Gold Belt approximately 35km
southeast of the Cantung Mine, along the Yukon/NWT border. The property lies
15km east of the Nahanni Range Road, and is located 9km east of Northern Tiger
Resources' 3-Aces project. A $200,000 exploration project was conducted on the
claims during the 2010 summer exploration season and yielded the following
encouraging results.
Highlights
* Channel sampling in the Main Zone returned 1.4 g/t Au, 3 g/t Ag and
0.18 % Cu over 11m
Including: 3.04 g/t Au, 4 g/t Ag and 0.22% Cu over 3 m
* Additional Main Zone sampling returned2.07 g/t Au, 1.47 g/t Ag,
0.06% Cu over 7 m
Including: 3.15 g/t Au over 3m
* Channel sampling at the Confluence Zone returned 1.6 g/t Au, 2.4 g/t
Ag over 4 m
* Chip Samples from the Kangas Zone returned up to 2.85 g/t Au. 4.2 g/t
Ag over 1.5 m
* A new gold discovery was made (the Pow Zone), which returned 0.54 g/t
Au, 3.27 g/t Ag over 3m and .88 g/t Au, 2.5 g/t Ag over 1 m. Grab
samples of mineralized vein material returned up to 2.9 g/t Au.
Accessory metals include copper, molybdenum and zinc.
* Historical grab samples from the Confluence Zone reported up to
59.25g/t Au, with historical chip samples from the Main Zone returning
2.38g/t Au over 22.5m
The Sprogge property has the potential to host both high-grade and bulk-tonnage
gold mineralization. Many targets on the property remain to be tested with
further exploration including trenching and diamond drilling. Follow-up
exploration work is strongly recommended for the property.
2010 Program:
The 2010 exploration program consisted of a 207 line km airborne geophysical
survey and a 16 day field program.The focus of the field program was to evaluate
and re-sample the known mineralization occurrences and locate further
mineralization on the property.The purpose of the airborne geophysical survey
was to locate any buried intrusions and major structural features that could be
controlling and influencing mineralization on the property.Channel samples were
taken over the known Main and Confluence zones and chip samples taken over the
Kangas zone.Prospecting and Geological Mapping was completed over areas that had
seen less historic work.
A new mineralized zone was discovered during the program, the Pow Zone.This zone
consists of both a calc-silicate skarn system as well as chalcedonic and quartz
veining with arsenopyrite and pyrhhotite in coarse clastic sediments.On the
margin of this zone is a newly discovered granodiorite plug.It is the first
surficial expression of intrusive activity located in the greater Hyland valley
region.
The airborne geophysical program was successful in identifying some major
structural features that are likely to play a major role in controlling
mineralization on the property.Many areas of magnetic highs from the survey
correlate with known pyrite hornfels zones and some areas of magnetic lows could
represent buried intrusive plugs.
The Sprogge property contains widespread mineralization of different styles and
consistent values of anomalous gold.Sampling from the 2010 program confirmed and
expanded on the historic results of known mineralization, including 1.4 g/t Au
over 11 m at the Main Zone and 2.85 g/t Au and 4.2 g/t Ag over 1.5 m from the
Kangas Zone.New mineralization was located at the Pow Zone, where a new skarn
was found on the margins of an intrusive plug and returned up to 2.4 g/t Au from
the skarn and 2.9 g/t Au from mineralized quartz veins.Another new skarn unit
was also found to the south of the Confluence Zone, returning 83.4 g/t Ag and 9%
Pb-Zn from a subcrop grab sample.
Property Geology
The regional geology of the southeast Yukon is represented by the basement rocks
of the Selwyn Basin, Late Precambrian to Early Cambrian Hyland Group sediments.
Regional mineralization is generally controlled by Mid-Cretaceous Tombstone
Suite quartz monzonite intrusive stocks. The Sprogge Property is underlain by
sedimentary rocks assigned to the Yusezyu Formation. Three distinct styles of
mineralization are documented on the property. These are thought to be a direct
reflection of a long lived, widespread mineralizing event occurring in reactive
calcareous sediments.
Property History
The claim area was first explored in 1964, when the area was staked to cover
skarn and replacement style pyrite, pyrrhotite and chalcopyrite mineralization.
Various operators worked the property sporadically until the late 1980s. Four
holes were drilled in 1987 and returned encouraging, but sub-economic results.
The property was restaked by Bernie Kreft in 1995 and subsequently optioned to
Hemlo Gold, Viceroy Exploration and NovaGold Resources. These companies explored
the property during the late 1990s and conducted geologic mapping, prospecting,
soil sampling, and limited hand trenching. The property was optioned from Kreft
by Eagle Plains in 2002 and subsequently purchased 100% from (subject to a 1%
Net Smelter Royalty) 2005. The 2010 exploration program represents the first
major exploration program undertaken by Eagle Plains Resources since acquiring
the property.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects
throughout western Canada. In addition to holding mining royalties on various
projects, Eagle Plains controls over 35 gold, base-metal and uranium projects,
several with third parties including Excelsior Mining Corp (TSX:MIN.P),
Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd.
(TSX-V:SND), Providence Capital Corp., Waterloo Resources Ltd. (TSX-V:WAT.P),
Windstorm Resources Inc., 0802906BC Ltd. (a private B.C. company); Heemskirk
Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW) and 99 Capital Corp.
(TSX-V:WDG). In recent years, Eagle Plains has completed option agreements with
Teck Limited (TSX:TCK.B), Alexco Resource Corp. (TSX-V:AXR), Billiton Metals,
Rio Algom Exploration, NovaGold Resources, Kennecott Exploration and numerous
other junior exploration companies, resulting in over 53,600m (163,370') of
drilling and over $28.3 million in exploration spending on its projects since
1998.
Expenditures during 2008 and 2009 on Eagle Plains' projects were approximately
$7,300,000, funded by Eagle Plains and third party partners. This work resulted
in approximately 6,900m of drilling and extensive ground-based exploration work
and facilitated the advancement of numerous projects at various stages of
development.
Technical aspects of this news release have been reviewed and approved by T.J.
Termuende, P.Geo., hereby designated as a qualified person under National
Instrument 43-101.
On behalf of the Board of Directors
Signed,
"Tim J. Termuende"
President and CEO
For further information, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
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. This news release
may contain forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and conditions
and therefore, involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
NOV 2 -News for 'EGPLF' - (Eagle Plains/Providence Capital Continue Expansion of Drill
Program on Iron Range Project, Acquire Additional Lands)
Cranbrook, British Columbia CANADA, Nov 02, 2010 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF -
OTCBB_Pink_Sheets), and Providence Capital Corp. (TSX-V:PV)have now completed
three diamond drill holes and further increased the budget for the Iron Range
Project from an initial $200,000 to up to $650,000. In addition, the option
partners have recently acquired 35,800 ha of new claims, increasing the total
land position from 20,400 ha to 56,200 ha (560 square kilometres - an area
approximately 11km x 50km).The partners continue to test the stratigraphic
interval known to host the Sullivan deposit, located 70km to the north. Current
exploration work is funded by Providence Capital.
The project is owned 100% by Eagle Plains, with Providence holding the option to
earn a 60% interest in the property by spending $3,000,000 on exploration,
making $500,000 in cash payments and issuing 1,000,000 shares to EPL over 4
years.
The decision to accelerate further exploration follows the intersection in Hole
2 of a significant interval located at or near the Sullivan time horizon
containing pervasive tourmaline and albite-altered sediments interlayered with
discrete conformable bands of pyrite, pyrrhotite (iron) and chalcopyrite
(copper) sulphides. Though relatively narrow (up to 8mm in width), these bands
and the associated alteration assemblage are interpreted by Eagle Plains
geologists to be indicative of a vent system nearby which may contain more
significant mineralized material.The completion of Hole 3 added additional
information to aid in the search for a possible vent source.Hole 4 is currently
underway, with permitting ongoing for additional drilling.
Iron Range Project Summary
The Iron Range property consists of 20,000 hectares and has no underlying
royalties or encumbrances.The claims are well-situated with respect to
infrastructure with a high-pressure gas pipeline, high-voltage hydroelectric
line, railway and major highway all located within property boundaries.
The Iron Mountain structure has been mapped with widths of up to 150m and a
strike length of over 50km.Claims held by Eagle Plains cover over 25km of the
structure, with significant iron-oxide mineralization occurring over 15km.Copper
and gold mineralization has recently been discovered along the structure,
highlighting the potential for iron-oxide copper-gold ("IOCG") mineralized
systems associated with the structure.The claims also overlie rocks of the
Aldridge Formation, including the same stratigraphic time horizon which hosts
the world-class Sullivan Deposit located 70km to the northeast.Over its 100 year
lifetime, Sullivan produced approximately 150,000,000 tonnes of ore including
300,000,000 ounces of silver, 8,000,000 tonnes of zinc and 8,000,000 tonnes of
lead, collectively worth over $25 billion at current metal prices.The parties
caution that past results or discoveries on proximate land are not necessarily
indicative of the results that may be achieved on the Iron Range property.
A map outlining pertinent details of the property may be found at:
http://www.eagleplains.ca/projects/bc/ironrange/
Property History
The Iron Range deposits were originally staked in 1897 and were covered by Crown
Grants held by Cominco Ltd. and the Canadian Pacific Railway.Past work on the
Iron Range deposits by Cominco focused on the considerable iron oxide resource
with trenching and very shallow (20m depth) diamond drilling along the Iron
Range Mountain ridge.Eagle Plains staked the current claims immediately after
the Crown Grants reverted in 2000 and have been exploring the property since
then. Exploration work to date includes geological mapping, geochemical surveys,
diamond drilling and a 690 line-km airborne geophysical survey.
Eagle Plains completed diamond drilling programs in 2005 and 2008, testing for
base-metal mineralization.A number of holes from these programs intersected gold
mineralization, including drill hole IR08006, which returned 7.0m grading 51.52
g/t (1.50 oz/ton) gold from 20.0m to 27.0m (see EPL news release dated April
20th, 2009).
Swift Resources optioned the property in late 2009 and completed a total of 580
m of drilling in 7 holes. One hole was drilled in close proximity to IR 08006
and returned 1.0m grading 7.53 g/t gold. (see EPL news release dated March 5th,
2010).
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects
throughout western Canada. In addition to holding mining royalties on various
projects, Eagle Plains controls over 35 gold, base-metal and uranium projects,
several with third parties including Excelsior Mining Corp (TSX:MIN.P),
Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd.
(TSX-V:SND), Providence Capital Corp., Waterloo Resources Ltd. (TSX-V:WAT.P),
Windstorm Resources Inc., 0802906BC Ltd. (a private B.C. company); Heemskirk
Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW) and 99 Capital Corp.
(TSX-V:WDG). In recent years, Eagle Plains has completed option agreements with
Teck Limited (TSX:TCK.B), Alexco Resource Corp. (TSX-V:AXR), Billiton Metals,
Rio Algom Exploration, NovaGold Resources, Kennecott Exploration and numerous
other junior exploration companies, resulting in over 53,600m (163,370') of
drilling and over $28.3 million in exploration spending on its projects since
1998.
Expenditures during 2008 and 2009 on Eagle Plains' projects were approximately
$7,300,000, funded by Eagle Plains and third party partners. This work resulted
in approximately 6,900m of drilling and extensive ground-based exploration work
and facilitated the advancement of numerous projects at various stages of
development.
Technical aspects of this news release have been reviewed and approved by T.J.
Termuende, P.Geo., hereby designated as a qualified person under National
Instrument 43-101.
On behalf of the Board of Directors
Signed,
"Tim J. Termuende"
President and CEO
For further information, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
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. This news release
may contain forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and conditions
and therefore, involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
Maximum News Dissemination by Filing Services Canada Inc. *
www.usetdas.com
Oct. 27th News for EPL.V 'EGPLF' - (Eagle Plains Reports Results on Dragon Lake Gold Project, Yukon
Territory)
CRANBROOK, British Columbia, Oct 27, 2010 (BUSINESS WIRE) -- Eagle Plains
Resources Ltd. (EPL:TSX-V) has received and compiled analytical results from its
100% owned Dragon Lake project, located within the Tintina Gold Belt
approximately 80km northeast of Ross River, Yukon. The $180,000 program was
carried out during the 2010 summer exploration season and consisted of an
airborne geophysical survey followed by geological mapping, soil geochemical
sampling and trenching.
Highlights
- Trenching returned 4.9 g/t Au, 1.1 g/t Ag and 0.1% Cu over 6.0 m.
Including: 6.7 g/t Au 1.4 g/t Ag and 0.12 % Cu over 4.0 m.
Including: 19.0 g/t Au, 1.9 g/t Ag and 0.12 % Cu over 1.0 m.
- Individual samples of till and soil material from pits spaced
125m apart returned 2.85 g/t
Au, 5.9 g/t Ag and 3.72 g/t
Au, 10.3 g/t Ag, 0.11% Cu and 0.11% Pb.
- Broad soil geochemical anomalies outlined with values up to 454
ppb gold.
The Dragon Lake property has the potential to host both high-grade and
bulk-tonnage gold mineralization. Many targets on the property remain to be
tested with further exploration including trenching and diamond drilling.
Follow-up exploration work is strongly recommended for the property.
2010 Program:
The 2010 exploration program consisted of a 183 line km airborne geophysical
survey and a 17 day field program from June 4th-20th, 2010. The purpose of the
airborne geophysical survey was to locate any buried intrusions and/or major
structural features that could be controlling and influencing mineralization.
The focus of the geological program was to evaluate and re-sample historic
trench and diamond drill core as well as complete follow-up exploration pits on
anomalous soil samples from the earlier programs. Soil geochemical coverage was
also expanded the south and west of the property, where there is little to no
rock exposure.
The sampling from the 2010 program confirmed and upgraded the results from
historic trenches and diamond drill holes. The Main Skarn zone returned values
up to 4.9 g/t Au, 1.1 g/t Ag and 0.1% Cu over 6 m, including 19 g/t Au, 1.9 g/t
Ag and 0.12 % Cu over 1 m. A grab sample from DDH99-01 returned 19 g/t Au,
representing high-grade Au potential that was previously undiscovered on the
property. Grab samples from the Intrusive Contact zone also returned results of
up to 1.74 g/t Au and 15.3 g/t Ag.
Exploration pits dug in 2010 were successful in better defining the sources of
anomalous values from soil samples at the surface. Results from these pits
warrant further investigation with trenching and/or diamond drilling. Soil and
till samples from pits DR10P003 and DR10P005 returned up to 2.85 g/t Au, 5.9 g/t
Ag, 0.09% Cu and 3.72 g/t Au, 10.3 g/t Ag, 0.11% Cu and 0.11% Pb respectively.
These findings show very good potential for high-grade mineralization at depth
at these localities and warrant further exploration.
Property Geology
Dragon Lake geology consists of Hyland Group sedimentary rocks interspersed with
volcanic flows and dykes intruded by Cretaceous-aged intrusive rocks. Gold
mineralization is found in skarn material associated with intrusive rocks and
within veins hosted by both intrusive and sedimentary rocks. Accessory minerals
including stibnite (antimony), scheelite (tungsten) and arsenopyrite (arsenic)
are commonly reported.
Property History
Copper and gold mineralization was discovered on the property by the Geological
Survey of Canada in 1945. Sporadic exploration occurred from 1960 to the late
1980s by various operators. Eagle Plains staked the property in 1996 and carried
out fieldwork in 1997 followed by a short drill program in 1999 (4 holes
totalling 301m). The most significant results from the drill program are 2.1 g/t
gold from 49.3 to 59.5 m and 3.66 g/t gold from 106.6 to 107.8 m in hole D99-01;
and 0.63 g/t gold from 15.6 to 16.4 m in hole D99-03.
Exploration programs were carried out by Eagle Plains in 2004, 2005 and 2009,
consisting of geological mapping, ground-based geophysical surveys, soil
geochemical sampling and trenching.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects
throughout western Canada. In addition to holding mining royalties on various
projects, Eagle Plains controls over 35 gold, base-metal and uranium projects,
several with third parties including Excelsior Mining Corp (TSX:MIN.P),
Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd.
(TSX-V:SND), Providence Capital Corp., Waterloo Resources Ltd. (TSX-V:WAT.P),
Windstorm Resources Inc., 0802906BC Ltd. (a private B.C. company); Heemskirk
Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW) and 99 Capital Corp.
(TSX-V:WDG). In recent years, Eagle Plains has completed option agreements with
Teck Limited (TSX:TCK.B), Alexco Resource Corp. (TSX-V:AXR), Billiton Metals,
Rio Algom Exploration, NovaGold Resources, Kennecott Exploration and numerous
other junior exploration companies, resulting in over 53,600m (163,370') of
drilling and over $28.3 million in exploration spending on its projects since
1998.
Expenditures during 2008 and 2009 on Eagle Plains' projects were approximately
$7,300,000, funded by Eagle Plains and third party partners. This work resulted
in approximately 6,900m of drilling and extensive ground-based exploration work
and facilitated the advancement of numerous projects at various stages of
development.
Technical aspects of this news release have been reviewed and approved by T.J.
Termuende, P.Geo., hereby designated as a qualified person under National
Instrument 43-101.
On behalf of the Board of Directors
Signed,
"Tim J. Termuende" President and CEO
Cautionary Note Regarding Forward-Looking Statements
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. This news release
may contain forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and conditions
and therefore, involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.
SOURCE: Eagle Plains Resources Ltd.
CONTACT:
Eagle Plains Resources Ltd.
Mike Labach, 1 866 HUNT ORE (486 8673)
mgl@eagleplains.com
http://www.eagleplains.com
News -Oct 12: EPL.V/'EGPLF' - (Eagle Plains/Providence Capital Expand Drill Program on Iron
Range Project, South-eastern British Columbia)
Cranbrook, British Columbia CANADA, Oct 12, 2010 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF -
OTCBB_Pink_Sheets), and Providence Capital Corp. (PV - TSX Venture)have expanded
the current budget at the Iron Range Project to enable additional drilling to
further test the stratigraphic interval known to host the Sullivan deposit,
located 70km to the north. Current exploration work is funded by Providence
Capital.
The project is owned 100% by Eagle Plains, with Providence holding the option to
earn a 60% interest in the property by spending $3,000,000 on exploration,
making $500,000 in cash payments and issuing 1,000,000 shares to EPL over 4
years.
The decision to accelerate further exploration follows the intersection in Hole
2 of a significant interval located at or near the Sullivan time horizon
containing pervasive tourmaline and albite-altered sediments interlayered with
discrete conformable bands of pyrite, pyrrhotite (iron) and chalcopyrite
(copper) sulphides. Though relatively narrow (up to 8mm in width), these bands
and the associated alteration assemblage are interpreted by Eagle Plains
geologists to be indicative of a vent system nearby which may contain more
significant mineralized material.
Sampling of existing drill core has not yet been completed and no assays are
available at this time. It is anticipated that the core logging will be
completed over the next two to three weeks, with assay results in approximately
six to eight weeks.
Iron Range Project Summary
The Iron Range property consists of 20,000 hectares and has no underlying
royalties or encumbrances.The claims are well-situated with respect to
infrastructure with a high-pressure gas pipeline, high-voltage hydroelectric
line, railway and major highway all located within property boundaries.
The Iron Mountain structure has been mapped with widths of up to 150m and a
strike length of over 50km.Claims held by Eagle Plains cover over 25km of the
structure, with significant iron-oxide mineralization occurring over 15km.Copper
and gold mineralization has recently been discovered along the structure,
highlighting the potential for iron-oxide copper-gold ("IOCG") mineralized
systems associated with the structure.The claims also overlie rocks of the
Aldridge Formation, including the same stratigraphic time horizon which hosts
the world-class Sullivan Deposit located 70km to the northeast.Over its 100 year
lifetime, Sullivan produced approximately 150,000,000 tonnes of ore including
300,000,000 ounces of silver, 8,000,000 tonnes of zinc and 8,000,000 tonnes of
lead, collectively worth over $25 billion at current metal prices.The parties
caution that past results or discoveries on proximate land are not necessarily
indicative of the results that may be achieved on the Iron Range property.
A map outlining pertinent details of the property may be found at:
http://www.eagleplains.ca/projects/bc/ironrange/
Property History
The Iron Range deposits were originally staked in 1897 and were covered by Crown
Grants held by Cominco Ltd. and the Canadian Pacific Railway.Past work on the
Iron Range deposits by Cominco focused on the considerable iron oxide resource
with trenching and very shallow (20m depth) diamond drilling along the Iron
Range Mountain ridge.Eagle Plains staked the current claims immediately after
the Crown Grants reverted in 2000 and have been exploring the property since
then. Exploration work to date includes geological mapping, geochemical surveys,
diamond drilling and a 690 line-km airborne geophysical survey.
Eagle Plains completed diamond drilling programs in 2005 and 2008, testing for
base-metal mineralization.A number of holes from these programs intersected gold
mineralization, including drill hole IR08006, which returned 7.0m grading 51.52
g/t (1.50 oz/ton) gold from 20.0m to 27.0m (see EPL news release dated April
20th, 2009).
Swift Resources optioned the property in late 2009 and completed a total of 580
m of drilling in 7 holes. One hole was drilled in close proximity to IR 08006
and returned 1.0m grading 7.53 g/t gold. (see EPL news release dated March 5th,
2010).
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects
throughout western Canada. In addition to holding mining royalties on various
projects, Eagle Plains controls over 35 gold, base-metal and uranium projects,
several with third parties including Excelsior Mining Corp (TSX:MIN.P),
Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd.
(TSX-V:SND), Providence Capital Corp., Waterloo Resources Ltd. (TSX-V:WAT.P),
Windstorm Resources Inc., 0802906BC Ltd. (a private B.C. company); Heemskirk
Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW) and 99 Capital Corp.
(TSX-V:WDG). In recent years, Eagle Plains has completed option agreements with
Teck Limited (TSX:TCK.B), Alexco Resource Corp. (TSX-V:AXR), Billiton Metals,
Rio Algom Exploration, NovaGold Resources, Kennecott Exploration and numerous
other junior exploration companies, resulting in over 53,600m (163,370') of
drilling and over $28.3 million in exploration spending on its projects since
1998.
Expenditures during 2008 and 2009 on Eagle Plains' projects were approximately
$7,300,000, funded by Eagle Plains and third party partners. This work resulted
in approximately 6,900m of drilling and extensive ground-based exploration work
and facilitated the advancement of numerous projects at various stages of
development.
Technical aspects of this news release have been reviewed and approved by T.J.
Termuende, P.Geo., hereby designated as a qualified person under National
Instrument 43-101.
On behalf of the Board of Directors
Signed,
"Tim J. Termuende"
President and CEO
For further information, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
Oct. 6 News for 'EGPLF' - (Eagle Plains Samples New High-Grade Gold Discovery at
Yellowjacket Gold Project, Atlin, B.C.)
CRANBROOK, British Columbia, Oct 06, 2010 (BUSINESS WIRE) -- Eagle Plains
Resources Ltd (TSX-V:EPL) is pleased to report that bedrock sampling on the
Yellowjacket Gold Project located near Atlin, BC has returned significant
high-grade gold mineralization recently exposed by placer mining activity in an
area 700m west of current exploration work. Partial results from sampling have
been returned, with additional results pending.
Highlights:
Recent placer mining activity by third-party lessees has exposed mineralized
bedrock material owned 100% by EPL which assayed 51.36 g/t over 5.2m, located
approximately 700m west of the Yellowjacket Zone, where drilling activity is
currently underway Mineralized zone is open to the north and at depth, with
further analytical results pending. An historic shaft has also been recently
exposed and appears to be related to the mineralized zone. This feature is
interpreted to be the Rock of Ages shaft, as reported in historical documents
Drilling continues on the Yellowjacket Zone, with 30 holes completed to date;
results pending
Placer mining activity is still underway on placer claims originally leased from
Prize Mining and now leased from owner Eagle Plains (as reported by Prize Mining
on September 28th, 2010). Recent excavation on the claims has exposed an
historic timbered shaft sunk into altered bedrock material. Historical reports
suggest that this shaft was located within the Rock of Ages Zone. The 1903
Report of the Minister of Mines describes the Rock of Ages workings as: "...a
shaft has been sunk 60 feet. From the bottom of this a cross-cut was run 7 feet
and struck the hanging wall of the ledge. A drift was run down-stream 60 feet at
this level, and one upstream on the 30 foot level. The ledge wherever tapped is
about 14 feet in width, mostly low grade ore, although many extremely rich
patches are encountered." Eagle Plains geologists have mapped and sampled the
local area and have now received partial results, including an interval which
returned 51.36 g/t over 5.2m. Additional mapping to the north and west of the
mineralized zone suggests similar geological characteristics, with sample
results pending.
Drilling continues at the Yellowjacket Zone located 700m to the east. A total of
45-50 reverse circulation holes are planned for the area, with 30 holes
completed to date. A total of 1900m (6200') of drilling is planned for this
program. Analytical results are pending.
The Yellowjacket Project is located 9 km east of Atlin, BC and is accessed by
all-season road. Hydro-electric power is located within 5km of property
boundaries. The project received a B.C. Mines Act permit in July, 2009 for an
open pit gold mine and onsite 400 tpd mill and concentrator, processing up to
75,000 tons per year. The Permit contemplates a 7--9 year mine life from a
series of open pits entirely within an area of disturbed placer workings. Since
the recent completion of the buy-out from Prize, Eagle Plains owns a 100%
interest in both mineral (hard-rock) and placer rights within the project area.
In October 2009, Eagle Plains and Prize announced the formal ratification of an
Impact and Benefits Agreement with the Taku River Tlingit First Nation.
A detailed history of the project and photo-gallery may be found here
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects
throughout western Canada. In addition to holding mining royalties on various
projects, Eagle Plains controls over 35 gold, base-metal and uranium projects,
several with third parties including Excelsior Mining Corp (TSX:MIN.P),
Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd.
(TSX-V:SND), Providence Capital Corp., Waterloo Resources Ltd. (TSX-V:WAT.P),
Windstorm Resources Inc., 0802906BC Ltd. (a private B.C. company); Heemskirk
Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW) and 99 Capital Corp.
(TSX-V:WDG). In recent years, Eagle Plains has completed option agreements with
Teck Limited (TSX:TCK.B), Alexco Resource Corp. (TSX-V:AXR), Billiton Metals,
Rio Algom Exploration, NovaGold Resources, Kennecott Exploration and numerous
other junior exploration companies, resulting in over 53,600m (163,370') of
drilling and over $28.3 million in exploration spending on its projects since
1998.
Expenditures during 2008 and 2009 on Eagle Plains' projects were approximately
$7,300,000, funded by Eagle Plains and third party partners. This work resulted
in approximately 6,900m of drilling and extensive ground-based exploration work
and facilitated the advancement of numerous projects at various stages of
development.
Technical aspects of this news release have been reviewed and approved by T.J.
Termuende, P.Geo., hereby designated as a qualified person under National
Instrument 43-101.
On behalf of the Board of Directors
Signed,
"Tim J. Termuende"
President and CEO
Cautionary Note Regarding Forward-Looking Statements
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. This news release
may contain forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and conditions
and therefore, involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.
SOURCE: Eagle Plains Resources Ltd
CONTACT:
Eagle Plains Resources Ltd
Mike Labach, 1 866 HUNT ORE (486 8673)
mgl@eagleplains.com
http://www.eagleplains.com
News - Sept 21 -Eagle Plains/Providence Capital Commence Drill Program on Iron Range Project, South-eastern British Columbia
Cranbrook, British Columbia CANADA, Sep 21, 2010 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF -
OTCBB_Pink_Sheets), and Providence Capital Corp. (TSX-V:PV) have mobilized crews
and equipment and commenced a 4-hole, $200,000 diamond drilling project on Eagle
Plains' 100% owned Iron Range project located in the Goat River area 15
kilometers northeast of Creston, B.C.Providence has the option to earn a 60%
interest in the Iron Range property.
Iron Range Project Summary
The Iron Range property consists of 20,000 hectares and has no underlying
royalties or encumbrances.The claims are well-situated with respect to
infrastructure with a high-pressure gas pipeline, high-voltage hydroelectric
line, railway and major highway all located within property boundaries.
The Iron Mountain structure has been mapped with widths of up to 150m and a
strike length of over 50km.Claims held by Eagle Plains cover over 25km of the
structure, with significant iron-oxide mineralization occurring over 15km.Copper
and gold mineralization have recently been discovered along the structure,
highlighting the potential for iron-oxide copper-gold ("IOCG") mineralized
systems associated with the structure.The claims also overlie rocks of the
Aldridge Formation, including the same stratigraphic time horizon which hosts
the world-class Sullivan Deposit located 70km to the northeast.Over its 100 year
lifetime, Sullivan produced approximately 150,000,000 tonnes of ore including
300,000,000 ounces of silver, 8,000,000 tonnes of zinc and 8,000,000 tonnes of
lead, collectively worth over $25 billion at current metal prices.The parties
caution that past results or discoveries on proximate land are not necessarily
indicative of the results that may be achieved on the Iron Range property.
A map outlining pertinent details of the property may be found at:
http://www.eagleplains.com/projects/bc/ironrange/
Property History
The Iron Range deposits were originally staked in 1897 and were covered by Crown
Grants held by Cominco Ltd. and the Canadian Pacific Railway.Past work on the
Iron Range deposits by Cominco focused on the considerable iron oxide resource
with trenching and very shallow (20m depth) diamond drilling along the Iron
Range Mountain ridge.Eagle Plains staked the current claims immediately after
the Crown Grants reverted in 2000 and have been exploring the property since
then. Exploration work to date includes geological mapping, geochemical surveys,
diamond drilling and a 690 line-km airborne geophysical survey.
Eagle Plains completed diamond drilling programs in 2005 and 2008, testing for
base-metal mineralization.A number of holes from these programs intersected gold
mineralization, including drill hole IR08006, which returned 7.0m grading 51.52
g/t (1.50 oz/ton) gold from 20.0m to 27.0m (see EPL news release dated April
20th, 2009).
Swift Resources optioned the property in late 2009 and completed a total of 580
m of drilling in 7 holes. One hole was drilled in close proximity to IR 08006
and returned 1.0m grading 7.53 g/t gold. (see EPL news release dated March 5th,
2010).
Eagle Plains/Providence Option Agreement
As announced in a news release on May 18th, 2010, Providence may earn a 60%
interest in the Iron Range property by completing $3,000,000 in exploration
expenditures, making $500,000 in cash payments and issuing 1,000,000 shares to
Eagle Plains over 4 years.Upon Providence exercising its option, a 60/40 Joint
Venture between Providence and Eagle Plains will be established.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects
throughout western Canada. In addition to holding mining royalties on various
projects, Eagle Plains controls over 35 gold, base-metal and uranium projects,
several with third parties including Excelsior Mining Corp (TSX:MIN.P),
Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd.
(TSX-V:SND), Providence Capital Corp., Waterloo Resources Ltd. (TSX-V:WAT.P),
Prize Mining Corp. (TSX-V:PRZ), Windstorm Resources Inc., Heemskirk Canada Ltd.,
Touchdown Capital Inc. (TSX-V: TDW) and 99 Capital Corp. (TSX-V:WDG). In recent
years, Eagle Plains has completed option agreements with Teck Limited
(TSX:TCK.B), Alexco Resource Corp. (TSX-V:AXR), Billiton Metals, Rio Algom
Exploration, NovaGold Resources, Kennecott Exploration and numerous other junior
exploration companies, resulting in over 53,600m (163,370') of drilling and over
$28.3 million in exploration spending on its projects since 1998.
Expenditures during 2008 and 2009 on Eagle Plains' projects were approximately
$7,300,000, funded by Eagle Plains and third party partners. This work resulted
in approximately 6,900m of drilling and extensive ground-based exploration work
and facilitated the advancement of numerous projects at various stages of
development.
Technical aspects of this news release have been reviewed and approved by T.J.
Termuende, P.Geo., hereby designated as a qualified person under National
Instrument 43-101.
On behalf of the Board of Directors
Signed,
"Tim J. Termuende"
President and CEO
For further information, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
News -Sept.17- Eagle Plains Commences Drilling Program at Yellowjacket Gold Project
Cranbrook, British Columbia CANADA, Sep 17, 2010 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF -
OTCBB_Pink_Sheets), has mobilized crews and equipment to commence a 2000-2500m
drilling program on its 100% owned Yellowjacket Gold Project located near Atlin,
BC.The program will consist of approximately 50 reverse-circulation ("RC") drill
holes targeting gold mineralization within the Yellowjacket Zone, within an area
targeted for future excavation and development.Additional mapping and sampling
is also being carried out in the Rock of Ages Zone, where two historic shafts
have recently been exposed during ongoing placer mining activity.A budget of
$450,000 has been set for the program which is expected to take 3-4 weeks to
complete.
The Yellowjacket Project is located 9 km east of Atlin, BC and is accessed by
all-season road. Hydro-electric power is located within 5km of property
boundaries. The project received a B.C. Mines Act permit in July, 2009 for an
open pit gold mine and onsite 400 tpd mill and concentrator, processing up to
75,000 tons per year. The Permit contemplates a 7-9 year mine life from a series
of open pits entirely within an area of disturbed placer workings. The gold is
recovered using a simple gravity concentrating recovery plant without the use of
chemicals or additives.Eagle Plains owns both mineral (hard-rock) and placer
rights within the Project area. In October 2009, Eagle Plains and Prize
announced the formal ratification of an Impact and Benefits Agreement with the
Taku River Tlingit First Nation.
The property is known to host significant gold mineralization. Gold is
erratically distributed throughout the Yellowjacket structure such that accurate
exploration and economic assessment of the property is challenged by a
pronounced "nugget effect".
C.C. (Chuck) Downie, P.Geo, VP Exploration, Eagle Plains Resources and Project
Manager for the Yellowjacket Venture states: "Going forward we need to focus on
better definition of the Yellowjacket Zone in terms of near surface grade and
tonnage through detailed chip sampling and shallow drilling. Expansion of the
east pit indicates that the mineralized zone extends into areas that have not
been tested by any diamond drilling and a better understanding of the
distribution of the nugget gold should result in more efficient grade control.
Our goal is to mine and process the near surface ore grade material, while
continuing to explore and expand the overall gold resource. We will also be
looking for potential partners to provide technical expertise and financing as
the project moves forward."
Tim Termuende, President and CEO of Eagle Plains recently stated: "The
Yellowjacket project gives EPL strong leverage on rising gold prices. By using
funds generated from the already permitted, low-cost gold production near
surface, we can avoid dilution to shareholders and continue systematic
exploration of this significant gold system with the aim of identifying a
million-plus ounce gold resource."
A detailed history of the project and photo-gallery may be found at
http://www.eagleplains.com/projects/bc/yellowjacket/
Project History
In 1983, local area prospectors staked the area of the Yellowjacket Property and
then optioned portions of the property to Canova Resources and Tri-Pacific
Resources.During 1984 and 1985 these companies conducted programs consisting of
ground geophysics, rotary- and diamond drilling.In 1986 Homestake Mineral
Development Company optioned the property from Canova and initiated programs of
mapping, reverse circulation drilling and diamond drilling.
In 1988, Homestake completed a ground geophysical program which consisted of 5.5
kilometres of magnetic and VLF-EM surveys.By 1988, Homestake Mining Company
outlined the Yellowjacket Zone; a mineralized area containing significant gold
intercepts over 2 kilometres by drilling 58 diamond drill holes to depths up to
183m.
As a result of this work, Homestake estimated an historical resource estimate of
453,500 tonnes grading 10.26 g/t gold (BC Dept Mines Open File 2000-2 page 41).
(These are historical figures and do not currently comply with NI 43-101, though
they are considered by management to be relevant and form a basis for future
exploration of the Property)
Muskox Minerals (later renamed Prize Mining Corp.) optioned the property in late
2003 and began exploration in December of that same year to further outline the
extent, nature, grade and geometry of gold mineralization at the Yellowjacket
Zone.41 holes were drilled in 2003-2004, thirteen of which encountered coarse
gold that yielded assay intercepts similar to those obtained by Homestake.Muskox
reported significant gold intersections (among others) of up to:*
* 80.3 g/t over 38.94 meters including 513.5 g/t over 5.56 metres in
drill hole YJ03-01
* 80.5 g/t over 30.83 meters including 2397 g/t over 0.91 meters in drill
hole TW05-02, a twin hole to YJ03-10
* 40.10 g/t over 6.10 metres in drill hole YJ04-07
* 142.40 g/t over 1.0 metres in drill hole YJ04-20
* 156.95 g/t over 0.5 metres in drill hole YJ04-22
(*press releases, November 15, 2004 and February 03, 2005):
In 2004, Canamera Geoscience Corp. under contract to Muskox conducted an
airborne geophysical survey over the Property. A total of 820 line kilometres of
airborne survey were flown by helicopter, using 50 metre spaced flight lines.
In 2005, Muskox/Prize performed a 50km magnetic survey which delineated three
distinct zones:Yellowjacket, Rock of Ages and Gold Run.Six holes were drilled in
the Yellowjacket Zone and 1.5 kilometres to the southwest, three holes were
drilled in the Rock of Ages Zone, for a total of 895 metres.
In 2006, Muskox/Prize commenced an exploration bulk sampling program, which
included diversion of Pine Creek, overburden/placer tailings excavation,
construction of a 400 ton-per-day milling facility, bedrock mapping and channel
sampling, bedrock excavation and processing.In 2007, Prize reported production
of 6.43 kilograms (206.9 ounces) of gold produced from sluicing the
placer-bedrock interface material excavated during bulk sample excavation.In
2008, Prize processed 4200 tonnes of material. Of this material, 2880 tonnes
were considered to be taken from the main mineralized Zone and returned gold
bars totaling 18.63 kilograms (599 ounces).About 800 kilograms of low grade gold
concentrates from 2008 remain and are estimated to contain approximately 1.5
kilograms (50 ounces) of gold.These gold volumes back-calculate, using a formula
that allows for smelting and processing plant recoveries, to a head grade of
approximately 9 g/t gold.
In 2009, Eagle Plains and Prize contracted Barry Price, P.Geo. and Linda Dandy,
P.Geo. to complete a 43-101 compliant technical reportwhich summarize
development of the property to date.The report identifies that "Based on the
results of the exploration and development conducted to date on the Property,
the authors conclude that the Yellowjacket Gold Zone represents a legitimate
development target with the potential to host an economically feasible mineral
deposit.Such potential is not quantifiable and can only be verified by
additional exploration and development work."The entire technical report may be
found on the Eagle Plains website at
http://www.eagleplains.com/projects/bc/yellowjacket/
Details of the Yellowjacket Purchase
Under the terms of the original JVA, Eagle Plains earned an initial 40% interest
in the Project from Prize by making a $2,000,000 cash payment. Since commencing
activities, Eagle Plains has advanced the JV an additional amount of
approximately $2,600,000. Prize Mining subsequently agreed to accept dilution of
its interest in the project in accordance with a formula established in the YJV
agreement.Prior to the purchase of the remaining Prize interest and dissolution
of the YJV, Eagle Plains held a 59.62% interest. The total consideration for the
purchase of Prize's remaining 40.38% interest was $400,000 plus 2,000,000 Eagle
Plains common shares. These shares are subject to escrow restrictions over a two
year period (see NR August 18th, 2010).
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects
throughout western Canada. In addition to holding mining royalties on various
projects, Eagle Plains controls over 35 gold, base-metal and uranium projects,
several with third parties including Excelsior Mining Corp (TSX:MIN.P),
Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd.
(TSX-V:SND), Providence Capital Corp., Waterloo Resources Ltd. (TSX-V:WAT.P),
Prize Mining Corp. (TSX-V:PRZ), Windstorm Resources Inc., 0802906 BC (a private
BC Corporation); Heemskirk Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW) and
99 Capital Corp. (TSX-V:WDG). In recent years, Eagle Plains has completed option
agreements with Teck Limited (TSX:TCK.B), Alexco Resource Corp. (TSX-V:AXR),
Billiton Metals, Rio Algom Exploration, NovaGold Resources, Kennecott
Exploration and numerous other junior exploration companies, resulting in over
53,600m (163,370') of drilling and over $28.3 million in exploration spending on
its projects since 1998.
Expenditures during 2008 and 2009 on Eagle Plains' projects were approximately
$7,300,000, funded by Eagle Plains and third party partners. This work resulted
in approximately 6,900m of drilling and extensive ground-based exploration work
and facilitated the advancement of numerous projects at various stages of
development.
Technical aspects of this news release have been reviewed and approved by C.C.
Downie, P.Geo., hereby designated as a qualified person under National
Instrument 43-101.
On behalf of the Board of Directors
Signed,
"Tim J. Termuende"
President and CEO
For further information, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
News - Sept. 14 Eagle Plains Commence Exploration Program on Elsiar Copper-Gold Project
News for EPL.V 'EGPLF' - (Eagle Plains Commence Exploration Program on Elsiar Copper-Gold Project, West-Central B.C.)
Cranbrook, British Columbia CANADA, Sep 14, 2010 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF -
OTCBB_Pink_Sheets), and 0802906 BC Ltd. (a private B.C. corporation) have
commenced a $100,000 exploration program on the Elsiar copper-gold-moly
property. Crews are now on route to the property area to commence geological
mapping and soil geochemical sampling work. 0802906 may earn a 60% interest in
the property by making exploration expenditures of $3,000,000 and completing
payments of 1,000,000 shares and $250,000 cash by the fourth anniversary of the
Agreement.
The Elsiar property is located 40km north of Terrace, B.C. and is held 100% by
EPL (subject to a 1% NSR). The project area has seen little historical activity
and was acquired by Eagle Plains in 2003 due to the presence of numerous strong
multi-element geochemical signatures in stream sediments. The property benefits
from excellent infrastructure including logging roads, hydroelectric power lines
and close proximity to rail and deep-water international ports in Kitimat and
Prince Rupert.
After acquisition by Eagle Plains, the property was subsequently optioned to
Northern Continental Resources which carried out approximately $1,000,000 in
exploration work during 2004 and 2005, including an airborne geophysical survey
and 20-hole, 7900' (2,400m) drilling program. Sandstorm Resources optioned the
property in 2008 and completed geological mapping and soil geochemical surveys.
The property hosts widespread mineralization in surface occurrences over a 3.5
sq. km. area. Both surface and drill hole data suggest the presence of a
well-developed copper-gold-molybdenum porphyry system with high-grade Au
mineralization present in shears and veins.The 2005 drill program intersected
high-grade Au mineralization with values ranging from trace quantities to up to
14.0g/T Au over 1.0m (DDH LC05018). Molybdenum mineralization was encountered in
most holes, with assay values ranging from trace quantities to .01% Mo over 50.0
m, including 0.4% Mo over 6.0m (DDH LCO5016). Cu mineralization ranged from
trace quantities to 0.43% Cu over 6.1m (DDH LC04001). Additional broad areas
containing anomalous soil geochemical results were delineated during 2008 work,
with soil sample values ranging from trace values up to 31.9 g/t Au.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects
throughout western Canada. In addition to holding mining royalties on various
projects, Eagle Plains controls over 35 gold, base-metal and uranium projects,
several with third parties including Excelsior Mining Corp (TSX:MIN.P),
Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd.
(TSX-V:SND), Providence Capital Corp., Waterloo Resources Ltd. (TSX-V:WAT.P),
Windstorm Resources Inc., Heemskirk Canada Ltd., Active Growth Capital Corp
(TSX-V: ACK.P), Touchdown Capital Inc. (TSX-V: TDW) and 99 Capital Corp.
(TSX-V:WDG). In recent years, Eagle Plains has completed option agreements with
Teck Limited (TSX:TCK.B), Alexco Resource Corp. (TSX-V:AXR), Billiton Metals,
Rio Algom Exploration, NovaGold Resources, Kennecott Exploration and numerous
other junior exploration companies, resulting in over 53,600m (163,370') of
drilling and over $28.3 million in exploration spending on its projects since
1998.
Expenditures during 2008 and 2009 on Eagle Plains' projects were approximately
$7,300,000, funded by Eagle Plains and third party partners. This work resulted
in approximately 6,900m of drilling and extensive ground-based exploration work
and facilitated the advancement of numerous projects at various stages of
development.
Technical aspects of this news release have been reviewed and approved by T.J.
Termuende, P.Geo., hereby designated as a qualified person under National
Instrument 43-101.
On behalf of the Board of Directors
Signed,
"Tim J. Termuende"
President and CEO
For further information, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
NEWS Sept 10 - Eagle Plains/Active Growth Capital sign Letter of Intent for Bohan Property, southeastern British Columbia
Cranbrook, British Columbia CANADA, Sep 10, 2010 (Filing Services Canada via COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF - OTCBB_Pink_Sheets), and Active Growth Capital Inc. (TSX-V:ACK.P)have entered into a Letter of Intent dated August 31, 2010 ("LOI") whereby ACK will be acquiring from Eagle Plains a 100% right, title and interest in the Bohan property (the "Property") located near Creston in southwestern British Columbia.
As consideration for the acquisition, the Company has agreed to issue 2,000,000 common shares to Eagle Plains, to be held in escrow pursuant to the Exchange policies.Of the total share consideration, it is expected that 10% (or 200,000 shares) will be released from escrow upon issuance of the Final Exchange
Bulletin in respect of the Qualifying Transaction and the remainder will be released from escrow in increments of 300,000 shares every 6 months thereafter.On behalf of the Company, TerraLogic Exploration Inc. ("TerraLogic"), a subsidiary of Eagle Plains, will be contracted to conduct an exploration work
program on the Property estimated to cost $200,000.
Pursuant to the LOI, Eagle Plains has the right to re-purchase a 50% ownership interest in the Property from the Company at any time after the second anniversary of the Qualifying Transaction, and extending up to the fourth anniversary of the Qualifying Transaction, at the Company's aggregate acquisition cost plus a premium of 150%.The re-acquisition price, if applicable,
would be payable in cash.In the event that the Company wishes to sell the Property, Eagle Plains will have the right of first refusal to acquire it.
In the event that the Property is put into commercial production and Eagle Plains has not exercised its' right to re-purchase an ownership interest in the Property as described above, then Eagle Plains will receive a 1% net smelter returns ("NSR") royalty.The 1% NSR royalty is only payable to Eagle Plains if Eagle Plains has no ownership interest in the Property. In the event that Eagle
Plains wishes to sell the 1% NSR royalty, then the Company will have the right of first refusal to acquire it.
Closing of the acquisition is subject to negotiation of a definitive agreement between the Company and Eagle Plains as well as the acceptance for filing by the Exchange.
The Property
The Bohan project is located 20km northeast of Creston, southeastern British Columbia. The 7,900ha property is road-accessible and favorably located with respect to hydro electric power and rail transportation infrastructure.
The property hosts the Wilds Creek sedimentary exhalative ("sedex") type base-metal deposit, an historic (non-43-101 compliant) resource reported by Aho (1964) and published by the B.C. Geological Survey consisting of 136,000 tonnes grading 6% zinc (though these estimates are considered to be relevant, their
reliability has not been confirmed, but will constitute a target basis for future exploration work). Other target areas on the property are considered to have good potential to host additional sedex-type base-metal mineralization.
Drilling completed in 1990 and 1992 by previous operators returned values ranging from no significant results to 2.6m grading 10.2% Zn (L90-1); 3.1m
grading 3.44% Zn (L92-8), 2.3m grading 9.94% Zn (L92-9) and 3.1m grading 3.55%
Zn (L92-10).
The property overlies approximately 12km of favourable stratigraphy and contains numerous untested prominent soil geochemical anomalies along its projected strike.
Eagle Plains acquired the property by staking in 1999 and in subsequent years, completed airborne geophysical surveys, geological mapping, soil and stream-sediment geochemical surveys and limited diamond drilling.
The most recent work on the property was carried out by Eagle Plains in 2008, which completed a soil geochemical survey followed by a 3 hole, 370m diamond drilling program designed to test for both manto-type and sedex mineralization.These holes failed to reach target depth, but mineralization consisting of fine-grained sphalerite, galena and minor chalcocite was identified in two of three holes.
Additional work is recommended for the Property, including soil geochemical surveys and additional diamond drilling.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects
throughout western Canada. In addition to holding mining royalties on various
projects, Eagle Plains controls over 35 gold, base-metal and uranium projects,
several with third parties including Excelsior Mining Corp (TSX:MIN.P),
Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd.
(TSX-V:SND), Providence Capital Corp., Waterloo Resources Ltd. (TSX-V:WAT.P),
Prize Mining Corp. (TSX-V:PRZ), Windstorm Resources Inc., Heemskirk Canada Ltd.,
Touchdown Capital Inc. (TSX-V: TDW) and 99 Capital Corp. (TSX-V:WDG). In recent
years, Eagle Plains has completed option agreements with Teck Limited
(TSX:TCK.B), Alexco Resource Corp. (TSX-V:AXR), Billiton Metals, Rio Algom
Exploration, NovaGold Resources, Kennecott Exploration and numerous other junior
exploration companies, resulting in over 53,600m (163,370') of drilling and over
$28.3 million in exploration spending on its projects since 1998.
Expenditures during 2008 and 2009 on Eagle Plains' projects were approximately
$7,300,000, funded by Eagle Plains and third party partners. This work resulted
in approximately 6,900m of drilling and extensive ground-based exploration work
and facilitated the advancement of numerous projects at various stages of
development.
Technical aspects of this news release have been reviewed and approved by T.J.
Termuende, P.Geo., hereby designated as a qualified person under National
Instrument 43-101.
On behalf of the Board of Directors
Signed,
"Tim J. Termuende"
President and CEO
For further information, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
NEWS August 19, 2010 Eagle Plains Completes 100% Acquisition of Yellowjacket Gold Project
Cranbrook, British Columbia CANADA, Aug 19, 2010 (Filing Services Canada via COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF - OTCBB_Pink_Sheets), has completed the purchase of Prize Mining Corp's (TSX-V:PRZ) remaining interest in the Yellowjacket Joint- Venture ("YJV") with an effective date of August 18th. Eagle Plains now holds a 100% interest in the project, subject to a 1.5% NSR. The YJV has now been dissolved and Eagle Plains is the sole owner and operator of the project.
A 2,000m drilling program is planned for the property and is expected to commence in early September.
About the Yellowjacket Gold Project
The Yellowjacket Project is located 9 km east of Atlin, BC and is accessed by all-season road. Hydro-electric power is located within 5km of property boundaries. The project received a B.C. Mines Act permit in July, 2009 for an open pit gold mine and onsite concentrator processing up to 75,000 tons per year
of ore (EPL/PRZ news release July 13th, 2009). The Permit contemplates a 7 - 9 year mine life from a series of open pits entirely within an area of disturbed placer workings. The gold is recovered using a simple gravity concentrating recovery plant without the use of chemicals or additives.
In October 2009, Eagle Plains and Prize announced the formal ratification of an Impact and Benefits Agreement with the Taku River Tlingit First Nation.
The property is known to host significant gold mineralization. Gold is erratically distributed throughout the Yellowjacket structural zone such that accurate exploration and economic assesment of the property is hampered by a pronounced "nugget effect".
Project History
In 1983, local area prospectors staked the area of the Yellowjacket Property and then optioned portions of the property to Canova Resources and Tri-Pacific Resources. During 1984 and 1985 these companies conducted programs of ground geophysics, rotary, and diamond drilling. In 1986 Homestake Mineral Development Company optioned the property from Canova and initiated programs of mapping, reverse circulation drilling and diamond drilling.
In 1988, Homestake completed a ground geophysical program which consisted of 5.5 kilometres of magnetic and VLF-EM surveys. By 1988, Homestake Mining Company outlined the Yellowjacket Zone, a mineralized area containing significant gold intercepts over 2 kilometres by drilling 58 diamond drill holes to depths up to 183m of which gold was intercepted to 140m depth.
As a result of this work, Homestake estimated an historical resource estimate of 453,500 tonnes grading 10.26 grams per tonne gold (BC Dept Mines Open File 2000-2 page 41). (These are historical figures and do not currently comply with NI 43-101, though they are considered by management to be relevant and form a
basis for future exploration of the Property)
Muskox Minerals Corp. (renamed Prize Mining Corporation) optioned the property in late 2003 and began exploration in December of that same year to further outline the extent, nature, grade and geometry of gold mineralization at the Yellowjacket Zone. 41 holes were drilled in 2003-2004, thirteen of which encountered coarse gold that yielded assay intercepts similar to those
obtained by Homestake.
Muskox reported significant gold intersections (among others) of up to:*
* 80.3 grams per tonne over 38.94 meters including 513.5 grams per tonne over 5.56 metres in drill hole YJ03-01
* 80.5 grams per tonne over 30.83 meters including 2397 grams per tonne over 0.91 meters in drill hole TW05-02, a twin hole to YJ03-10
* 40.10 grams per tonne over 6.10 metres in drill hole YJ04-07
* 142.40 grams per tonne over 1.0 metres in drill hole YJ04-20
* 156.95 grams per tonne over 0.5 metres in drill hole YJ04-22
(*press releases, November 15, 2004 and February 03, 2005):
In 2004, Canamera Geoscience Corp. under contract to Muskox conducted an airborne geophysical survey over the Property. A total of 820 line kilometres of airborne survey were flown by helicopter, using 50 metre spaced flight lines.
In 2005, Muskox/Prize performed a 50km magnetic survey which delineated three zones: Yellowjacket, Rock of Ages and Gold Run. Six holes were drilled in the Yellowjacket Zone and 1.5 kilometres to the southwest, three holes were drilled in the Rock of Ages Zone, for a total of 895 metres.
In 2006, Muskox/Prize commenced an exploration bulk sampling program, which included diversion of Pine Creek, overburden/placer tailings excavation, construction of a 400 ton-per-day milling facility, bedrock mapping and channel
sampling, bedrock excavation and processing. In 2007, Prize reported production of 6.43 kilograms (206.9 ounces) of gold produced from sluicing the placer-bedrock interface material excavated during bulk sample excavation. In 2008, Prize processed 4200 tonnes of material. Of this material, 2880 tonnes were considered to be taken from the main mineralized zone
and returned gold bars totaling 18.63 kilograms (599 ounces).
About 800 kilograms of low grade gold concentrates from 2008 remain and are estimated to contain approximately 1.5 kilograms (50 ounces) of gold. These gold volumes back-calculate, using a formula that allows for smelting and processing plant recoveries, to a head grade of approximately 9 g/t gold.
In 2009, Eagle Plains and Prize contracted Barry Price, P.Geo. and Linda Dandy, P.Geo. to complete a 43-101 compliant technical report which summarize development of the property to date. The report identifies that "Based on the results of the exploration and development conducted to date on the Property, the authors conclude that the Yellowjacket Gold Zone represents a legitimate development target with the potential to host an economically
feasible mineral deposit. Such potential is not quantifiable and can only be verified by additional exploration and development work." The entire technical report, a detailed history of the project and photo-gallery may be found on the Eagle Plains website at:
http://www.eagleplains.com/projects/bc/yellowjacket/index.asp
C.C. (Chuck) Downie, P.Geo, VP Exploration, Eagle Plains Resources and Project Manager for the Yellowjacket Venture states:
"Going forward we need to focus on better definition of the Yellowjacket ore zone in terms of near surface grade and tonnage through detailed chip sampling and shallow drilling. Expansion of the east pit indicates that the mineralized zone extends into areas that have not been tested by any diamond drilling and a
better understanding of the distribution of the nugget gold should result in more efficient grade control. Our goal is to mine and process the near surface ore grade material, while continuing to explore and expand the overall gold resource. We will also be looking for potential partners to provide
technical expertise and financing as the project moves forward."
Under the terms of the original JVA, Eagle Plains earned an initial 40% interest in the Project from Prize by making a $2,000,000 cash payment. Since commencing activities, Eagle Plains has advanced the JV an additional amount of approximately $2,600,000. Prize Mining subsequently agreed to accept dilution of
its interest in the project in accordance with a formula established in the YJV agreement.
Prior to the purchase of the remaining Prize interest and
dissolution of the YJV, Eagle Plains held a 59.62% interest. The total consideration for the purchase of Prize's remaining 40.38% interest was $400,000 plus 2,000,000 Eagle Plains common shares. These shares are subject to escrow restrictions over a two year period.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects throughout western Canada. In addition to holding mining royalties on various projects, Eagle Plains controls over 35 gold, base-metal and uranium projects, several with third parties including Excelsior Mining Corp (TSX:MIN.P), Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd.
(TSX-V:SND), Providence Capital Corp., Waterloo Resources Ltd. (TSX-V:WAT.P), Prize Mining Corp. (TSX-V:PRZ), Windstorm Resources Inc., Heemskirk Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW) and 99 Capital Corp. (TSX-V:WDG). In recent
years, Eagle Plains has completed option agreements with Teck Limited (TSX:TCK.B), Alexco Resource Corp. (TSX-V:AXR), Billiton Metals, Rio Algom Exploration, NovaGold Resources, Kennecott Exploration and numerous other junior exploration companies, resulting in over 53,600m (163,370') of drilling and over
$28.3 million in exploration spending on its projects since 1998.
Expenditures during 2008 and 2009 on Eagle Plains' projects were approximately $7,300,000, funded by Eagle Plains and third party partners. This work resulted in approximately 6,900m of drilling and extensive ground-based exploration work and facilitated the advancement of numerous projects at various stages of development.
Technical aspects of this news release have been reviewed and approved by C.C. Downie, P.Geo., hereby designated as a qualified person under National Instrument 43-101.
On behalf of the Board of Directors
Signed,
"Tim J. Termuende"
President and CEO
For further information, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
June 10, 2010 NEWS: Eagle Plains Announces Offer to Purchase Yellowjacket Project
Cranbrook, British Columbia CANADA, Jun 10, 2010 (Filing Services Canada via COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF - OTCBB_Pink_Sheets), announces the execution of a formal agreement whereby Eagle Plains has offered to purchase from Prize Mining Ltd. (TSX-V:PRZ) the remaining beneficial right, title and interest in the Yellowjacket Project, including
mineral and placer rights, and all equipment and infrastructure currently in place on the Yellowjacket mine site by making a cash payment of four hundred thousand ($400,000) dollars Canadian and issuing two million (2,000,000) common shares of Eagle Plains Resources. The deal is subject to regulatory approval from the TSX Venture Exchange and must also be approved by Prize Mining
shareholders at their Annual General Meeting on July 13, 2010. The project is currently operated through the Yellowjacket Joint-Venture (?YJV?), jointly owned by Eagle Plains and Prize Mining and operated by Eagle Plains.
As announced in the EPL/PRZ News Release dated February 01, 2010, the project has a current NI43-101 Technical report prepared by Barry Price, P,Geo. Based on the results of the exploration and development conducted to date on the Property, the report concludes that the Yellowjacket Gold Zone represents a legitimate development target with the potential to host an economically
feasible mineral deposit. The report also states that additional zones on the Property are legitimate early stage exploration targets and recommends a tentative budget of $520,000 for the next stage of exploration. Currently the Yellowjacket Zone is open along strike in both directions and to depth.
Upon formal approval of the purchase agreement by Prize Shareholders and the TSX-V, Eagle Plains intends to carry out an exploration program on the property in 2010, which will include drilling.
About the Yellowjacket Gold Project
The Yellowjacket Project is located 9 km east of Atlin, BC and is accessed by all-season road.
In 2007 - 2008, Prize reported production of over 800 ounces of gold from a bulk sample extracted from the Yellowjacket zone.
2007 production was reported to be 6.43 kilograms (206.9 ounces) of gold from sluicing the placer-bedrock interface material excavated during bulk sample extraction. In 2008, Prize processed 4200 tonnes of bedrock material in their on site bulk sample mill. Of this material, 2880 tonnes were considered to be taken from the main mineralized zone and returned gold bars totaling 18.63 kilograms (599 ounces). About 800 kilograms of low grade gold concentrates from 2008 remained and were estimated to contain approximately 1.5 kilograms (50 ounces) of gold.
These gold volumes back-calculate, using a formula that allows for smelting and processing plant recoveries, to a head grade of approximately 9 g/t gold.
Eagle Plains (as project operator) applied for and received a Small Mines Act Permit from the British Columbia Ministry of Energy, Mines and Petroleum Resources in July, 2009 for the development and production of gold at the Yellowjacket Zone (see EPL/PRZ news release July 13th, 2009).
The Permit allows for the development and operation of an open pit gold mine and onsite concentrator processing up to 75,000 tons per year of ore.
The local Taku River Tlingit First Nation were active participants in the review and approval of the Permit.
In October 2009, Eagle Plains and Prize announced the formal ratification of an Impact and Benefits Agreement with
the Taku River Tlingit First Nation. The Agreement recognizes that the Yellowjacket Project is located within the TRTFN Territory; and the YJV holds certain interests and rights granted by British Columbia to extract gold resources. Furthermore, the parties recognize that they have a mutual and beneficial interest in cooperating with each other to advance and complete the
Yellowjacket Project in a timely, environmentally responsible and orderly manner.
Commissioning and test work on the mill facility was completed in June 2009 and stockpiled material from 2008 bulk sample work was processed for approximately two weeks. Excavation activity and expansion of the existing pit took place from mid-August to mid-September. Approximately 40,000 tonnes of material was mined,
with approximately 9,000 tonnes of material stockpiled for processing. Overall production was severely constrained by numerous breakdowns, equipment failures and permitting delays. Although some dore was produced onsite, the smelting furnace was not efficient which led to a decision to process the bulk of the
concentrate offsite. Unfortunately, the processing of the gold concentrate into gold matte for delivery to the refinery has progressed much slower than anticipated and gold concentrate is still being processed. Based on the amount of gold delivered to the refinery to date and the results of fire assays on the
gold concentrate it is believed that the total 2009 production will be between 200 and 225 ounces of gold. A definitive quantity of gold recovered will be reported when final processing activity has been completed.
Under the terms of the Joint Venture Agreement, Eagle Plains earned an initial 40% interest in the Project from Prize by making a $2,000,000 cash payment. Through subsequent cash calls and the resultant dilution in accordance with the Joint Venture Agreement, Eagle Plains increased its interest in the project to
approximately 60%.
A detailed history of the project and recently updated photo-gallery may be found at http://www.eagleplains.com/projects/bc/yellowjacket/index.asp
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects throughout western Canada. In addition to holding mining royalties on various projects, Eagle Plains controls over 35 gold, base-metal and uranium projects, several with third parties including Excelsior Mining Corp (TSX:MIN.P), Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd.
(TSX-V:SND), Parkside Resources Inc., Waterloo Resources Ltd. (TSX-V:WAT.P), Prize Mining Corp. (TSX-V:PRZ), Windstorm Resources Inc., Heemskirk Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW) and 99 Capital Corp. (TSX-V:WDG). In recent
years, Eagle Plains has completed option agreements with Teck Limited (TSX:TCK.B), Alexco Resource Corp. (TSX-V:AXR), Billiton Metals, Rio Algom Exploration, NovaGold Resources, Kennecott Exploration and numerous other junior exploration companies, resulting in over 53,600m (163,370?) of drilling and over
$28.3 million in exploration spending on its projects since 1998.
Expenditures during 2008 and 2009 on Eagle Plains? projects were approximately $7,300,000, funded by Eagle Plains and third party partners. This work resulted in approximately 6,900m of drilling and extensive ground-based exploration work and facilitated the advancement of numerous projects at various stages of development.
Technical aspects of this news release have been reviewed and approved by C.C. Downie, P.Geo., hereby designated as a qualified person under National Instrument 43-101.
On behalf of the Board of Directors
Signed,
?Tim J. Termuende?
President and CEO
For further information, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
June 2, 2010 NEWS - Aggressive Exploration Season
News for 'EGPLF' - (Eagle Plains and Partners Launch Aggressive Exploration Season with Wildhorse Drill Program)
Cranbrook, British Columbia CANADA, Jun 02, 2010 (Filing Services Canada via COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF - OTCBB_Pink_Sheets), has mobilized field crews to embark on aggressive mineral exploration programs in British Columbia, Yukon and Saskatchewan.
Exploration programs will be carried out on projects in
various stages of development. Over $2.2M in exploration expenditures are budgeted for the year, with fourteen individual projects scheduled for work. At least three projects are expected to see diamond drilling, with approximately 1600m - 2100m (5250' - 6890') in total footage planned to date. Approximately 1/2 of the total expenditures will be incurred by third parties under various option agreements currently in place.
Fieldwork will be carried out by TerraLogic Exploration Services Ltd (formerly Bootleg Exploration) of Cranbrook, a wholly-owned subsidiary of Eagle Plains.
http://www.TerraLogicExploration.com
A pdf summary of program scheduling is available at
http://www.eagleplains.com/summary/schedule/documents/EPL2010FieldSeasontimeline.pdf
British Columbia Projects
Wildhorse (Au, Cu)
A 500-700m, 6-hole diamond drilling program is now underway at the Wildhorse (Cu, Au) Project located 40km north of Cranbrook, in south-eastern B.C. This $200,000 program is being funded by option partner Excelsior Mining Corp (TSX-V:MIN) subject to option terms as announced in a news release dated Mar 11/2010.
Iron Range (Au, Ag, Pb, Zn)
A $200,000, 2-3 hole program is planned to test prominent geophysical conductors apparently associated with the Iron Range Fault system. Work will be funded by Providence Capital Corp. (TSX-V:PV), subject to an option agreement as announced
on May 18th, 2010.
Results from previous exploration work including drilling, geological mapping, geochemical surveys and a 690 line-km airborne geophysical survey have been used to define a potential SEDEX target that is the focus of this years exploration
program.
Elsiar (Au, Cu, Mo)
A $200,000 geological and soil geochemical program is being funded by option partner Parkside Resources Ltd. (a private BC company), subject to an option agreement as announced on April 15th, 2010.
Kalum (Au)
A $200,000 diamond drilling program is being funded by option partner Windstorm Resources Inc. (a private B.C. company), subject to an option agreement as announced November 4th, 2009. Drilling activity is a continuation of fieldwork completed on behalf of Windstorm during 2009 and previous programs. Work this season will also follow-up on a high-grade gold occurrence which was discovered in 2009 as summarized in a news release dated November 4th, 2009.
Yellowjacket (Au)
Project plans to be announced shortly
Acacia (Pb, Zn, Ag) and Black Diamond (Ag, Au, Pb, Zn)
Soil geochemical and geological programs have recently been completed. Both projects are located in Southern B.C. and are 100% owned by EPL.
Saskatchewan Projects
Baska Eldorado (U, REEs)
Crews are now on site to conduct a $130,000 trenching, geological mapping, prospecting and soil geochemical program on the property, with work funded by 99 Capital (TSX-V:WDG). EPL earlier sold a 100% interest in the property to 99 Capital for 2M common shares, and maintains an option to buy-back a 50% interest
in the claims.
At the Kulyk Lake occurrence, mapping and sampling of the Eldorado grid during 2009 led to the re-sampling of 2 sets of historical trenches located 600m apart, namely the Eldorado (U) and Kulyk (REE) trenches.
Samples collected from these trenches in 2009 returned significant values of Uranium and REE's, notably from the Kulyk trench exceptional Total Rare Earth Oxides (TREO) assays
of 55.9%, 30.6% and a 0.7 m chip sample of 18.9%.
Soil geochemical results and geological/geophysical mapping from this program indicate the potential for continuous mineralization along strike between the two trenches
(see news release January 18th, 2010).
Eagle Lake (U, REEs)
A $200,000 exploration program to consist of trenching and other geological work is planned for the Eagle Lake property, funded by Sandstorm Metals and Energy Ltd. (TSX-V:SND).
Sandstorm can earn a 60% interest in the property by completing $3M in exploration expenditures, making $495,000 in cash payments and issuing 850,000 common shares to EPL over 5 years.
At Eagle Lake, a radioactive boulder train was discovered in 2008 as a result of prospecting an airborne geophysical anomaly.
This led to the discovery of the Red October showing in 2009.
The Red October consists of approximately 400m of intermittent mineralized outcrop otherwise covered by overburden.
Samples collected from the showing returned exceptional uranium assays including a 1.0 m yellow-stained chip sample which
returned 1.56% U3O8 and a grab sample of a yellow-stained black alteration selvage which returned 2.24% U3O8 (see news release January 13, 2010).
Karin Lake (U, REEs)
A $50,000 program is planned for the property in 2010, to be funded by EPL. Work will consist of ground-based exploration to follow up on targets generated by an airborne geophysical survey conducted in late 2007. An 8-hole, 757m diamond drilling program was carried out on the property in early 2008 and yielded encouraging results (see news release June 27th, 2008).
Yukon Projects
Dragon Lake (Au)
Work will commence within the week on a $200,000 airborne geophysical, trenching and geological program on the Dragon Lake property.
The claims have been held by Eagle Plains since the mid-1990s and have seen exploration activity including drilling, trenching and limited ground geophysical work. The best trenching results to date include 6.0m grading 2.8g/t Au and 15.3m grading 1.2
g/t Au. 2010 work will be funded by EPL, with a portion of the expenditures to be offset by Yukon Mineral Incentive Program (YMIP) grants.
Sprogge (Au)
A $200,000 geological program is planned for 2010 on this project located in south-east Yukon. Work will include an airborne geophysical survey, geologic mapping and soil geochemical work. The claims have been held by EPL since the late 1990s and have seen sporadic exploration since their acquisition by EPL.
Trenching carried out in 1997 returned gold values of 2.38 g/t over 22.5m and 4.24 g/t Au over 4.5m. Both of these targets remain untested by drilling. Work in 2010 will be funded by EPL, with a portion of the expenditures to be offset by YMIP grants.
Yukon Grassroots Exploration Programs
Eagle Plains has scheduled crews to carry out additional reconnaissance-style grassroots exploration work on various targets throughout the Yukon during 2010.
This work will be funded by EPL, with a portion of the expenditures to be offset by YMIP grants.
For further details and regular updates on these and other Eagle Plains' mineral exploration projects, please visit our website at www.eagleplains.com
About Eagle Plains
Eagle Plains continues to conduct research, acquire and explore metal projects throughout western Canada. In addition to holding mining royalties on various projects, Eagle Plains controls over 35 gold, base-metal and uranium projects, several with third parties including Excelsior Mining Corp (TSX:MIN.P), Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd.
(TSX-V:SND), Parkside Resources Inc., Waterloo Resources Ltd. (TSX-V:WAT.P), Prize Mining Corp. (TSX-V:PRZ), Windstorm Resources Inc., Heemskirk Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW) and 99 Capital Corp. (TSX-V:WDG).
In recent years, Eagle Plains has completed option agreements with Teck Limited (TSX:TCK.B), Alexco Resource Corp. (TSX-V:AXR),
Billiton Metals, Rio Algom Exploration, NovaGold Resources, Kennecott Exploration and numerous other junior exploration companies, resulting in over 53,600m (163,370') of drilling and over $28.3 million in exploration spending on its projects since 1998.
Expenditures during 2008 and 2009 on Eagle Plains' projects were approximately $7,300,000, funded by Eagle Plains and third party partners. This work resulted in approximately 6,900m of drilling and extensive ground-based exploration work and facilitated the advancement of numerous projects at various stages of development.
This news release has been reviewed and approved by T.J. Termuende, P.Geo., hereby designated as a "Qualified Person" under National Instrument 43-101.
On behalf of the Board of Directors
Signed
"Tim J. Termuende"
President and CEO
For further information, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
May 18, 2010 News for 'EGPLF' - (Eagle Plains/Providence Capital Execute Option Agreement on Iron Range Project, South-eastern British Columbia)
Cranbrook, British Columbia CANADA, May 18, 2010
(Filing Services Canada via COMTEX) -- Eagle Plains Resources Ltd.
(EPL - TSX Venture)(EGPLF - OTCBB_Pink_Sheets), (or "Eagle Plains") and Providence Capital Corp. (TSX-V:PV) (or "Providence") have entered into an option agreement, on Eagle Plains' 100% owned Iron Range project located in the Goat River area 15km NE of Creston, B.C.
Under the terms of the agreement, Providence may earn a 60%
interest in the property by completing $3,000,000 in exploration
expenditures,making $500,000 in cash payments and issuing 1,000,000
shares to Eagle Plains over 4 years.
Upon Providence exercising its option, a 60/40 Joint Venture
between Providence and Eagle Plains will be established.
The option agreement and Providence's proposed share issuances
under the agreement are subject to TSX Venture Exchange approval.
The Iron Range property consists of 20,000 hectares owned 100%
by Eagle Plains and has no underlying royalties or encumbrances.
The claims are well-situated with respect to infrastructure
with a high-pressure gas pipeline,high-voltage hydroelectric
line, railway and major highway all located within property
boundaries.
The Iron Mountain structure has been mapped with widths of
up to 150m and a strike length of over 50km. Claims held by Eagle
Plains cover over 25km of the structure, with significant
iron-oxide mineralization occurring over 15km.
Copper and gold mineralization have recently been discovered
along the structure, highlighting the potential for iron-oxide
copper-gold ("IOCG") mineralized systems associated with the
structure.
The claims also overlie rocks of the Aldridge Formation,
including the same stratigraphic time horizon which hosts
the world-class Sullivan Deposit located 70km to the northeast.
Over its 100 year lifetime, Sullivan produced approximately
150,000,000 tonnes of ore including 300,000,000 ounces of silver,
8,000,000 tonnes of zinc and 8,000,000 tonnes of lead,
collectively worth over $25 billion at current metal prices.
The parties caution that past results or discoveries on proximate
land are not necessarily indicative of the results that may be
achieved on the Iron Range property.
Property History
The Iron Range deposits were originally staked in 1897 and were
covered by Crown Grants held by Cominco Ltd. and the Canadian
Pacific Railway.
Past work on the Iron Range deposits by Cominco focused on the
considerable iron oxide resource with trenching and very shallow
(20m depth) diamond drilling along the Iron Range Mountain
ridge.
Eagle Plains staked the current claims immediately after the
Crown Grants reverted in 2000 and have been exploring the
property since then. Exploration work to date includes geological
mapping, geochemical surveys, diamond drilling and a 690 line-km
airborne geophysical survey.
Eagle Plains completed diamond drilling programs in 2005
and 2008, testing for base-metal mineralization.
A number of holes from these programs intersected gold
mineralization, including drill hole IR08006, which returned
7.0m grading 51.52 g/t (1.50 oz/ton) gold from 20.0m to 27.0m.
Swift Resources optioned the property in late 2009 and completed
a total of 580m of drilling in 7 holes. One hole was drilled
in close proximity to IR 08006 and returned 1.0m grading 7.53 g/t
gold. (See News release dated March 5th, 2010).
Eagle Plains and Providence plan to complete a $200,000
exploration program during the 2010 field season, which will
include drill-testing of a prominent geophysical anomaly
associated with a Sullivan-type target.
Financing
Providence has arranged a non-brokered private placement that
consists of 2 million flow-through units to be issued at a
price of $0.075 per unit. Each flow-through unit comprises one
flow-through common share and one warrant. Each warrant is
exercisable into one common share at a price of $0.15 for two
years. Providence may pay finder fees as outlined in the TSX
Venture Exchange policy. The private placement is subject to
TSX Venture Exchange acceptance, and all securities shall
be subject to a four-month hold period.
About Eagle Plains
Eagle Plains continues to conduct research, acquire and
explore metal projects throughout western Canada. In addition
to holding mining royalties on various projects, Eagle Plains
controls over 35 gold, base-metal and uranium projects,
several with third parties including Excelsior Mining Corp (TSX:MIN.P), Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd. (TSX-V:SND), Parkside Resources Inc., Waterloo Resources Ltd. (TSX-V:WAT.P), Prize Mining Corp. (TSX-V:PRZ), Windstorm Resources Inc., Heemskirk Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW) and 99 Capital Corp. (TSX-V:WDG).
In recent years, Eagle Plains has completed option agreements
with Teck Limited (TSX:TCK.B), Alexco Resource Corp. (TSX-V:AXR),
Billiton Metals, Rio Algom Exploration, NovaGold Resources,
Kennecott Exploration and numerous other junior exploration
companies, resulting in over 53,600m (163,370') of drilling
and over $28.3 million in exploration spending on its projects
since 1998.
Expenditures during 2008 and 2009 on Eagle Plains' projects were
approximately $7,300,000, funded by Eagle Plains and third party
partners. This work resulted in approximately 6,900m of drilling
and extensive ground-based exploration work and facilitated the
advancement of numerous projects at various stages of development.
About Providence
Providence is an exploration company engaged in evaluating,
advancing and investing in early stage resource projects.
Providence is currently working on an option agreement to
acquire 60% interest in the gold prospective Kanweaken project
in the Republic of Liberia, Africa, but continues to evaluate
other prospective projects both in North American and internationally to build its property portfolio.
This news release has been reviewed and approved by
Tim J. Termuende, P.Geo., hereby designated as a qualified person under National Instrument 43-101.
On behalf of the Board of Directors On behalf of the Board of
Directors of Eagle Plains of Providence.
Tim J.
Termuende
President and CEO
Steve Bajic
President and CEO
For further information, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
Eagle Plains/Swift Resources Announce Results from Drill Program at Iron Range Property, South-eastern British Columbia
http://www.marketwatch.com/story/eagle-plainsswift-resources-announce-results-from-drill-program-at-iron-range-property-south-eastern-british-columbia-2010-03-05?reflink=MW_news_stmp
CRANBROOK, British Columbia, Mar 05, 2010 (BUSINESS WIRE) -- Eagle Plains Resources Ltd. /quotes/comstock/11v!epl (CA:EPL 0.14, 0.00, 0.00%) and Swift Resources Inc. /quotes/comstock/11v!swr (CA:SWR 0.14, -0.01, -3.45%) announce results from a diamond drilling program completed at Eagle Plains' 100% owned Iron Range project located in the Goat River area 15km NE of Creston, B.C. The drilling program was funded by Swift, who have an option to earn a 60% interest in the property by completing $3,000,000 in exploration expenditures, making $500,000 in cash payments and issuing 750,000 shares to EPL over 5 years (see EPL NR 01/12/09). A total of 580 meters in 7 diamond drill holes was completed in December, 2009 at a cost of $400,000.
Highlights:
-- Drill hole IR09-022 yielded 1.0m @ 7.53 gm/t Au and 1.1m @ 2.05 gm/t Au.
-- A channel sample 30m South of 2009 drilling returned 0.70m @ 3.26 gm/t Au.
-- Numerous gold and base-metal targets exist for future exploration work.
The 2009 exploration program has confirmed a southern extension of the O-Ray gold zone and substantially increased the known vertical extent above and below that of the IR08-006 high grade intersection (51.52 g/t Au and 2.39 g/t Ag over 7.00 meters, including 118.45 g/t Au over 3.00 meters). Detailed descriptions of the results from the 2009 drill program are presented below:
Hole From| To (m) Width Assay1 Duplicate Assay2 Recovery
Number (m) (m) (Au g/t) (Au
g/t)
IR09022 9.83 10.83 1.00 7.53 22.5 81%
32.45 33.55 1.10 2.05 < 0.03 90%
IR09023 18.40 19.40 1.00 0.97 0.47 69%
35.22 36.22 1.00 0.39 < 0.03 92%
(1) Original sampling consisted of splitting and sampling 1/2 of the core;
analysis consisted of 250g coarse metallic screen assay.
(2) Duplicate sampling consisted of splitting and sampling 1/4 of the
core; analysis consisted of 250g coarse metallic screen assay.
Drill-hole IR09-022, collared 2.5m south and vectored slightly southeast of IR08-006, yielded 7.53 gm/t Au (22.50 gm/t Au duplicate reanalysis) over 9.83-10.83m and 2.05 gm/t Au from 32.45-33.55m. The section laterally adjacent to the high gold grade zone in IR08-006 generated .08 gm/t over 1.74m from 20.20-21.94m. Holes IR09-021 and IR09-023 to IR09-026 returned no significant intercepts. These results illustrate the erratic distribution of the gold mineralization indicating the need for further evaluation of the structural controls on mineral emplacement.
Thirty-five metres south of the O-Ray zone channel sample MMIRR150 produced 3.26 gm/t Au over 0.70m. Soil sampling generated isolated anomalous gold values up to 335m south of the O-Ray occurrence. This elevated soil geochemistry ranks uppermost regionally and occurs proximal to the projected intersection of a major NE splay fault and the north trending Iron Range fault zone.
The program was carried out under the supervision of C.C. Downie, P.Geo.. F.B. Drilling of Cranbrook B.C. provided drilling services, with analytical services provided by EcoTech Laboratories Ltd., Stewart Group, of Kamloops, B.C. All of the drill core was sampled and analyzed using the ICP-AES 28 element analytical method (BICP-11). Sample analysis for gold consisted of 250 gram coarse metallic screen assay (FA-AA finish). Certified standards and blanks were inserted for QA/QC. Significant elevated gold value intercepts were re-sampled from a quarter duplicate obtained from the remaining one-half split from the original sampling.
The property consists of 22,000 ha owned 100% by Eagle Plains and has no underlying royalties or encumbrances. The claims are well-situated with respect to infrastructure. A high-pressure gas pipeline, high-voltage hydroelectric line, railway and major highway are located within property boundaries. The Iron Mountain structure has been mapped with widths of up to 150m and a strike length of over 50km. Claims held by Eagle Plains cover over 25km of the structure, with significant iron-oxide mineralization occurring over 15km. Copper and gold mineralization have been discovered along the structure during exploration, highlighting the potential for Iron Oxide Copper Gold ("IOCG") mineralized systems associated with the structure.
A map outlining pertinent details of the property may be found here:
http://www.eagleplains.com/projects/bc/ironrange/documents/Iron_Range_Drill_Mapv4.pdf
Property History
The Iron Range deposits were originally staked in 1897 and were covered by Crown Grants held by Cominco Ltd. and the Canadian Pacific Railway. Past work on the Iron Range deposits by Cominco focused on the considerable iron oxide resource with trenching and very shallow (20m depth) diamond drilling along the Iron Range Mountain ridge. Eagle Plains staked the current claims immediately after the Crown Grants reverted in 2000. Eagle Plains has been working on the property since acquiring the claims. Exploration work including geological mapping, geochemical surveys and a 690 line-km airborne geophysical survey were used to define targets for drill testing.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects in western Canada. In addition to holding mining royalties on various projects, the Company controls over 35 gold, base-metal and uranium projects, several with third parties including Swift Resources Inc. /quotes/comstock/11v!swr (CA:SWR 0.14, -0.01, -3.45%) , Prize Mining Corp. /quotes/comstock/11v!prz (CA:PRZ 0.03, 0.00, 0.00%) , Waterloo Resources Ltd. (TSX-V:WAT.P), Touchdown Capital Inc. /quotes/comstock/11v!tdw (CA:TDW 0.16, +0.02, +14.29%) , 99 Capital Corp. /quotes/comstock/11v!wdg (CA:WDG 0.20, 0.00, 0.00%) and XO Gold Resources Ltd. (a private B.C. company). In recent years, Eagle Plains has completed option agreements with Teck Limited /quotes/comstock/11t!tck.b (CA:TCK.B 41.84, +1.37, +3.39%) , Alexco Resource Corp. /quotes/comstock/11t!axr (CA:AXR 3.47, +0.02, +0.58%) , Billiton Metals, Rio Algom Exploration, NovaGold Resources, Kennecott Exploration and numerous other junior exploration companies, resulting in over 53,600m (163,370') of drilling and over $28.3 million in exploration spending on its projects since 1998.
Expenditures during 2008 and 2009 on Eagle Plains' projects were approximately $7,300,000, funded by Eagle Plains and third party partners. This work resulted in approximately 6,900m of drilling and extensive ground-based exploration work and facilitated the advancement of numerous projects at various stages of development.
This news release has been reviewed and approved by Tim J. Termuende, P.Geo., hereby designated as a qualified person under National Instrument 43-101.
On behalf of the Board of Directors
On behalf of the Board of Directors
Signed,
"Tim J. Termuende"
President and CEO
For further information, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Eagle Plains Resources Ltd.
Eagle Plains Resources
Mike Labach, 1-866-486-8673
mgl@eagleplains.com
http://www.eagleplains.com
Eagle Plains/Windstorm Complete Fieldwork on Kalum Gold Property, New High-Grade Prospecting Discovery Announced
* Press Release
* Source: Eagle Plains Resources
* On 11:36 am EST, Wednesday November 4, 2009
http://finance.yahoo.com/news/Eagle-PlainsWindstorm-bw-3576916524.html?x=0&.v=1
CRANBROOK, British Columbia--(BUSINESS WIRE)--Eagle Plains Resources (TSX-V:EPL - News) has completed a $100,000 mineral exploration program on the Kalum property. The road-accessible, 21,883 ha property is located approximately 35 km northwest of Terrace, British Columbia in the Skeena Mining Division. Eagle Plains has agreed to grant an option on the property to Windstorm Resources Ltd, a private B.C. company which funded the 2009 program.
Highlights
* Prospecting activity results in the highest-grade gold sample recovered to date on the property. Grab sample DKKMR002, taken from a previously unexplored area of the property returned 983 g/t (28.667 oz/t) Au and 495 g/t (14.44 oz/t) Ag
* Numerous soil samples returned highly anomalous samples of up to 2037 ppb Au
* I.P. geophysical survey completed
2009 Program:
A total of 30 man-days were spent on the property. Fieldwork consisted of soil geochemical sampling, prospecting and geological mapping in various areas of the large property, in addition to an induced Polarization (“I.P.”) survey near the “Burn” occurrence, which was the completion of work initiated during 2008 by previous option partner First Lithium (formerly Mountain Capital).
The 2009 program was successful in delineating new mineralization on the property, including the discovery and sampling of high-grade vein mineralization which returned 983 g/t Au and 495 g/t Ag. A single sample at this occurrence was taken during fieldwork activity, and the location site has not yet been revisited to verify thickness, orientation or character of the mineralized occurrence. A re-run of the original sample was completed by Eco Tech Laboratory Ltd. and confirmed the high-grade tenor of the original sample.
Follow-up exploration work is strongly recommended for the property.
Eagle Plains/Windstorm Option Agreement
Under terms of an agreement with Windstorm Resources Ltd., Windstorm will have the right to earn a 60% interest in the property by completing $3,000,000 in exploration expenditures, making $400,000 in cash payments, and issuing 500,000 voting class common shares to Eagle Plains. Windstorm may increase its interest to 75% by delivering a pre-feasibility study by 2017. A 1% NSR is held in favour of a third party, and may be purchased at any time for $1,000,000.
Property Geology
The Property is centered upon a large Cretaceous-age granodioritic stock of the Coast Crystalline Complex that has intruded Jurassic to Cretaceous-age sedimentary rocks of the Bowser Lake Group. A number of high-grade, vein-type gold occurrences are associated with the contact zone and magnetic signature of the intrusive stock. These occurrences have been explored by various operators and to various degrees over the past 80 years. All previous exploration efforts have been directed toward the discovery of high-grade stand-alone mineralization. The current Eagle Plains tenure package represents the first time that gold occurrences related to the intrusive stock have been consolidated by a single company.
Property History
The property had last seen exploration work in 2008 by Mountain Capital Corp. (now First Lithium Resources Inc.) who completed geologic mapping, a ground geophysical survey and 1,390m of drilling in 11 holes to target the “Burn” showing (see EPL/MCI news release December 15, 2008). Highlights of the 2008 program included drill-hole HKM 08-01, which returned 10.55m grading 0.973g/t gold from 9.95m to 20.50m (including 0.3m which assayed 28.7 g/t gold from 20.20 to 20.50m) and drill-hole HKM 08-03, which returned 2.30m grading 11.949 g/t gold from 14.0-16.3m. Mountain Capital terminated their option on the property in May, 2009.
Eagle Plains initiated property acquisition in the Kalum area in 2003 and completed significant exploration programs on the property in 2003 and 2004. The programs included a VTEM airborne survey, extensive geochemical programs, geologic mapping, and a 19 hole diamond drill program. The best drill results from this work included drill-hole KRC04001, drilled at the Rico showing (discovered by Eagle Plains personnel in late 2003), which returned 35g/t Au over 2.5m from 101.8m to 104.3m; including a 0.5m interval that assayed 107g/t Au (see EPL news release December 9th, 2004). In addition, historical occurrences on the Property were located, sampled and surveyed.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects in western Canada. In addition to holding mining royalties on various projects, the Company controls over 35 gold, base-metal and uranium projects, several with third parties including Waterloo Resources Ltd (TSX-V:WAT.P - News) and XO Gold Resources Ltd. (a private B.C. company). In recent years, Eagle Plains has completed option agreements with Teck Limited (TSX:TCK.B - News), Alexco Resource Corp. (TSX-V:AXR - News), Billiton Metals, Rio Algom Exploration, NovaGold Resources, Kennecott Exploration and numerous other junior exploration companies, resulting in over 53,000m (158,500’) of drilling and over $27.0 million in exploration spending on its projects since 1998.
Expenditures during 2008 on Eagle Plains’ projects were approximately $6,000,000, funded equally between Eagle Plains and third party partners. This work resulted in approximately 6,300m of drilling and extensive ground-based exploration work and facilitated the advancement of numerous projects at various stages of development.
On behalf of the Board of Directors
Signed,
“Tim J. Termuende”
President and CEO
For further information, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Contact:
Eagle Plains Resources
Mike Labach, 1 866 HUNT ORE (486 8673)
mgl@eagleplains.com
http://www.eagleplains.com
Eagle Plains Resourc (TSX:EPL)
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Eagle Plains/Windstorm Commence Fieldwork on Kalum Gold Property
Wed Aug 26, 11:37 AM
http://ca.news.finance.yahoo.com/s/26082009/34/biz-f-business-wire-eagle-plains-windstorm-commence-fieldwork-kalum-gold-property.html
Eagle Plains/Prize Mining Receive Small Mines Permit for Yellowjacket Gold Project, Atlin, B.C.
Mon Jul 13, 1:02 PM
http://ca.news.finance.yahoo.com/s/13072009/34/biz-f-business-wire-eagle-plains-prize-mining-receive-small-mines-permit.html
CRANBROOK, British Columbia--(BUSINESS WIRE)--Eagle Plains Resources Ltd. (EPL:TSX-V) and Prize Mining Corp. (PRZ:TSX-V) jointly announce that the British Columbia Ministry of Energy, Mines and Petroleum Resources ("BC-MEMPR") has awarded the Yellowjacket Venture (“Yellowjacket JV”) a Small Mines Act Permit for development and production at the Yellowjacket Gold Project in northwestern British Columbia. The Permit allows for the development and operation of an open pit gold mine and onsite concentrator processing up to 75,000 tons per year of ore.
The Yellowjacket JV, Eagle Plains and Prize Mining management teams consider the delivery of the mining and milling permit a major achievement and milestone for the project, its advisors and consultants. The permit is one of only three small mine permits issued by BC-MEMPR since May 2007. The permit process was steered by the Northwest Mine Development Review Committee (NWMDRC).
The Yellowjacket Gold Project is located within the traditional territory of the Taku River Tlingit First Nation (TRTFN) who have been active participants in the review and approval of the Small Mines Act Permit both through their representation on the NWMDRC and in direct consultation with the Yellowjacket JV proponents.
Commissioning and test work on the mill facility at the Yellowjacket Gold Project was recently completed (NR June 29 2009) confirming a mill capacity of 350 tonnes per day. Metallurgical test work and plant engineering designs show that expected gravity concentration gold recoveries will be between 73% and 80%. Using ratios of average gold in tailings compared to average total gold values in conveyor cut assays, it appears that the gold loss to tailings is well within the targeted acceptable recovery range. On-going studies will be conducted to improve recoveries.
On site, modifications will commence on the tailings storage facility, in order to comply with federal and provincial environmental regulations. Tailings facility construction will be followed by dewatering of the existing open pit (previously excavated during the bulk sampling program) and extraction of up to 35,000 tonnes of ore. Processing of ore is expected to commence in August 2009.
Linda Dandy, P.Geo., Mine Manager, is the "Qualified Person" for the purpose of National Instrument 43-101, has reviewed and verified the contents of this news release.
A detailed history of the project and recently updated photo-gallery may be found here
About Eagle Plains Resources
Eagle Plains Resources plans to commence gold production at the Yellowjacket project in mid-2009 and continues to conduct research, acquire and explore metal projects in western Canada. In addition to holding mining royalties on various projects, the Company controls over 35 gold, base-metal and uranium projects, several with third parties including Waterloo Resources Ltd (TSX-V: WAT-P.V) and XO Gold Resources Ltd. (a private B.C. company). In recent years, Eagle Plains has completed option agreements with Teck Limited (TSX: TCK-B.TO), Alexco Resource Corp. (TSX-V: AXR.V), Billiton Metals, Rio Algom Exploration, NovaGold Resources, Kennecott Exploration and numerous other junior exploration companies, resulting in over 53,000m (158,500’) of drilling and over $27.0 million in exploration spending on its projects since 1998.
Expenditures during 2008 on Eagle Plains’ projects were approximately $6,000,000, funded equally between Eagle Plains and third party partners. This work resulted in approximately 6,300m of drilling and extensive ground-based exploration work and facilitated the advancement of numerous projects at various stages of development.
On behalf of the Board of Directors
Signed
“Tim J. Termuende”
President and CEO
For further information, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Eagle Plains Resources Ltd.
Mike Labach, 1 866 HUNT ORE (486 8673)
mgl@eagleplains.com
http://www.eagleplains.com
Eagle Plains Resources Ltd. (Tier2) (TSX:EPL)
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Eagle Plains Drills Intersect High-Grade Gold at Iron Range
Mon. April 20, 2009; Posted: 01:57 PM
http://www.tradingmarkets.com/.site/news/Stock%20News/2280094/
CRANBROOK, B.C., Apr 20, 2009 (BUSINESS WIRE) -- EPL | Quote | Chart | News | PowerRating -- Eagle Plains Resources Ltd. (EPL:TSX-V) has received final results from a 20-hole 1,670m (5,500') drill program completed during 2008 on the Iron Range project, located in the Goat River area 15km NE of Creston, B.C.. The property consists of 9,400 ha owned 100% by Eagle Plains and has no underlying royalties or encumbrances. The claims are well situated with respect to infrastructure; with a high pressure gas pipeline, high-voltage hydroelectric line, railway and major highway located within property boundaries. 2008 drilling was completed by Apex Drilling of Smithers, B.C., with the program carried out under the overall supervision of C.C. Downie, P.Geo.
Highlights:
Hole IR08006 returned:
- 7.0m grading 51.52 g/t (1.50 oz/ton) gold from 20.0m to 27.0m
- Including 4.0m grading 89.96 g/t (2.63 oz/ton) gold from 20.0m to 24.0m
- Including 3.0m grading 115.20 g/t (3.46 oz/ton) gold from 20.0m to 23.0m
2008 Program
The objective of the 2008 drill program was to systematically test the prominent Iron Mountain structure over a 3km strike length in order to calculate an inferred resource for known iron mineralization and to test for associated iron oxide copper-gold ("IOCG") mineralization. Drill-pads were spaced at approximately 500m intervals. The Iron Mountain structure has been mapped with widths of up to 150m and a strike length of over 50km. Claims held by Eagle Plains cover over 25km of the structure, with significant iron-oxide mineralization occurring over 15km.
Though preliminary drilling results indicated that the iron resource was of sub-economic grade, Hole IR08-06 intersected high-grade gold mineralization consistent with IOGC deposit models within altered material of the Iron Mountain structure. Significant results are outlined in Table 1, below. Previous exploration work by Eagle Plains revealed the presence of gold associated with the structure. In 2005 EPL reported 3.82 g/t Au and 46.0 g/t Ag over 2.0m in drill-hole IR05003, located 9 km from the discovery hole (EPL news release June 13, 2005).
A map outlining pertinent details of the property may be found here: http://www.eagleplains.com/projects/bc/ironrange/Iron_Range_Drill_Map.pdf
It is apparent that the gold mineralization hosted within the Iron Mountain structure has a pronounced "nugget effect" with poor recoveries noted throughout the gold mineralized interval. Therefore, a strict QAQC program was designed under the supervision of EcoTech Laboratories to confirm initial high-grade results. The program consisted of two generations of re-sampling on key mineralized intervals of core which were then processed by two independent labs. Though gold values varied from sample generation to sample generation, internal results from the same sample material were consistent between labs. Statistical analysis of this data confirms the overall gold grades across a 7.0m interval (see discussion of analytical procedures, below). Visible gold was noted in a number of individual grains. True thickness calculations for the mineralized zone are unavailable due to the limited data available at present. Eagle Plains intends to aggressively follow-up the discovery during 2009, with advanced fieldwork and drilling currently being planned.
Tim Termuende, P.Geo., President and CEO of Eagle Plains commented recently "we are excited and encouraged by the discovery of high-grade gold mineralization at Iron Range. The confirmed presence of precious metals in a new district within a prominent regional structure of this size and continuity creates a very attractive exploration target. With its easy access and excellent location relative to major infrastructure, the property will see considerable attention by Eagle Plains in the coming field season"
Table 1 - Iron Range 2008 Drilling Results
Hole Number Status Zone From (m) To (m) Length (m) Ag (g/t)
Wt. Avg.*
Au (g/t)
IR08001 to 003 Completed No Significant Values
IR08004 Abandoned O-Ray 9.46 9.76 0.30 - 8.10
IR08005 Abandoned O-Ray
IR08006 Complete O-Ray 20.00 27.00 7.00 51.52 2.39
Including 20.00 24.00 4.00 89.96 4.17
Also Including 20.00 23.00 3.00 118.45 5.56
IR08007 Completed O-Ray No Significant Values
IR08008 Completed Trench E 14.00 15.00 1.00 0.85 -
IR08009 to 012 Completed Various No Significant Values
IR08013 Completed Keepsake 46.00 49.95 3.95 - 48.96
IR08014 to 016 Completed Various 46.00 49.95 3.95 - 48.96
IR08017 Completed Rhodesia 55.00 56.00 1.00 - 8.80
IR08018 to 020 Completed Various No Significant Values
* Please refer below to the section entitled Sample / Analytical Protocol for a detailed description of calculations utilized to obtain reported Au values
Property History
The Iron Range deposits were originally staked in 1897 and were covered by Crown Grants held by Cominco Ltd. and the Canadian Pacific Railway. Past work on the Iron Range deposits by Cominco focused on the considerable iron oxide resource with trenching and very shallow (20m depth) diamond drilling along the Iron Range Mountain ridge. Eagle Plains staked the current claims immediately after the Crown Grants reverted in 2000. Eagle Plains has been working on the property since acquiring the claims. Exploration work including geological mapping, geochemical surveys and a 690 line-km airborne geophysical survey were used to define targets for drill testing.
Comparisons to Other IOCG Deposits
Since the acquisition of the Iron Range Property Eagle Plains Resources has focused on evaluating the potential for economic Cu-Au mineralization in addition to assessing the iron-oxide mineralization. The discovery of high-grade gold and anomalous copper mineralization within the Iron Mountain Fault Zone during the 2008 diamond drill program confirms that the Iron Mountain Fault is a highly prospective Iron-Oxide-Gold +/-Cu target. Global analogues for deposits which share similar geology, mineralogy and alteration to the Iron Range Property include: gold/silver/bismuth deposits of the Tennant Creek District, Australia; gold-PGE mineralization of the Serra Pelada deposits, Brazil; and gold-silver mineralization of the Dunrobin Gold Mine, Africa. The key features which these deposits share with the Iron Range are as follows: high-grade gold mineralization; 10's g/t Au to 100's g/t Au within or adjacent to zones of iron-oxide alteration and/or mineralization; multi-phase hydrothermal alteration; structurally controlled with in parasitic fold closures or sub-vertical shear zones; enriched in silver, copper, PGE's, and other accessory metals; spatial association to alkaline lamprophyre dykes and breccia pipes; hematite-magnetite-pyrite mineralization within iron-oxide bodies; spatially located within deep-seated regional fault systems displaying prolonged tectonic activity.
The following Au-Cu-PGE production figures illustrate the diversity among iron-oxide related high-grade gold systems. Tennant Creek District: Juno Deposit: 450 000 tones @ 57 g/t Au, 0.4 % Cu, 0.6 % Bi, 7g/t Ag; Eldorado Deposit: 210 000 tones @ 20 g/t Au; Argo Deposit: 290 000 tones @ 8.6 g/t Au, 4% Cu, 0.2 % Bi, 14 g/t Ag. Lufilian Arc, Zambia, Africa: Dunrobin Gold Mine: 53, 817 oz Au. Carajas Mineral Province, Brazil: Serra Pelada Deposit: 56t Au, 15t Pd, 7t Pt, ore grades 15.20 g/t Au, 4.09 g/t Pd, and 1.89 g/t Pt.
About Eagle Plains Resources
Eagle Plains Resources continues to conduct research, acquire and explore metal projects in western Canada. The Company controls over 35 gold, base-metal and uranium projects, many with third parties including Teck Limited (TSX:TCK.B), Alexco Resource Corp. (TSX-V:AXR), Sandstorm Resources Ltd. (TSX-V:SSL.P), Waterloo Resources Ltd (TSX-V:WAT.P), Mountain Capital Inc. (TSX-V:MCI.P) and XO Gold Resources Ltd. (a private B.C. company). These agreements expose Eagle Plains to over $10.0 million in exploration expenditures over a five year period. In recent years, Eagle Plains has completed option agreements with Billiton Metals, Rio Algom Exploration, NovaGold Resources, Kennecott Exploration and numerous other junior exploration companies, resulting in over 52,000m (158,500') of drilling and over $27.0 million in exploration spending on its projects since 1998. 2008 expenditures on Eagle Plains' projects were approximately $6,000,000, funded equally between Eagle Plains and third party partners. In 2009, management anticipates approximately $1.2 million in exploration expenditures funded by partners.
*Sample/Analytical Protocol
(after Marcus Hanemaayer, B.Sc., Lab Manager, EcoTech Laboratories / Stewart Group)
Original Samples (1/2 Core):
Eco Tech Laboratory, Stewart Group analyzed samples IR08006-001->IR08-032, which was a shipment from Bootleg's (Eagle Plains') Iron Range project. The samples were digested by aqua-regia for a multi element scan with an ICPMS finish. For the gold analyses, a 15 gram sub-sample was Fire Assayed (as a geo) and ran by AAS.
Overlimit gold samples from this analysis were routinely run for gold by 30gram FA/AA finish to quantify the overlimits reported by the Geo Au Fire Assay. Two of the samples were in excess of 150-300g/t Au. Eco tech Laboratory then ran a 250g metallic screen assay on the remaining pulps from sample IR08006-001->IR08-032 and IR08007-001->IR08007-021 as requested by Bootleg (Eagle Plains).
The coarse fraction from the original metallic analysis represented 3.64% and 3.99% of the material screened for the two samples with the elevated Au levels. This coarse fraction ran very high for Au, 685 and 1080g/t respectfully, whereas the fine fractions had Au levels ranging from 12-30g/t with good reproducibility. Despite the presence of heterogeneous gold, the metallic screen data compared well with the 30gram FA data on the same pulps.
Check Sample #1 (1/4 Core):
Bootleg (Eagle Plains) sent one quarter of their remaining core to ALS Chemex for a 50g FA/AA finish. The results did not compare well with Eco Tech's original data on samples 10-15, but compared relatively well with the other samples in the suite. The remaining pulps that were tested by ALS were sent back to Eco Tech. Very little pulps remained but where possible Au was run by fire assay. The results obtained by Eco Tech on these pulps compared well to the results that ALS reported, and since all internal standards were within control limits in both laboratories, the results obtained by both laboratories don't appear to be in question. From the metallic assay data it is evident that the gold is heterogeneous in this zone and sampling of small pieces of core do not provide reproducible results.
Check Sample #2 (1/8 Core):
Further testing was conducted on the sections of core in question. Another eighth core was sent in for Au Fire Assay. This core spanned the section of samples which did not compare well between the 1/2 core and 1/8 core. Results obtained from the eighth core showed a significant increase in Au (by a factor of 3) for one sample, as compared with the 1/8 core.
Interval Calculation:
- due to an intense QAQC program which involved two generations of resampling and multiple analytical techniques, calculation of final interval values involved a number of steps
- step one involved calculating preliminary Au values, on a sample by sample basis, by determining the weighted average of all analytical methods utilized in each round of sampling
- step two involved calculating the final Au values, on a sample by sample basis, by determining the weighted average of the results from step #1
- the final step was to calculate the final interval values utilizing the final sample Au values obtained in Step #2
This news release has been reviewed and approved by Tim J. Termuende, P.Geo., hereby designated as a "Qualified Person" under National Instrument 43-101.
On behalf of the Board of Directors
Signed
"Tim J. Termuende" President and CEO
Cautionary Note Regarding Forward-Looking Statements
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. There is no certainty that the parties will enter into the definitive purchase and joint venture agreement. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Eagle Plains Resources Ltd.
Eagle Plains Resources Ltd.
Mike Labach, 1 866 HUNT ORE (486 8673)
mgl@eagleplains.com
http://www.eagleplains.com
Eagle Plains/Prize Mining Execute Joint-Venture Agreement to Produce Gold at Yellowjacket
Monday April 6, 2009, 9:30 am EDT
http://finance.yahoo.com/news/Eagle-PlainsPrize-Mining-bw-14857268.html
CRANBROOK, British Columbia--(BUSINESS WIRE)--Eagle Plains Resources Ltd. (EPL:TSX-V) and Prize Mining Corp. (PRZ:TSX-V) jointly announce that the companies have executed a formal agreement (subject to regulatory approval) whereby the two parties will form a joint-venture to immediately facilitate the production of gold and conduct further exploration and development of the Yellowjacket Zone on the Atlin Gold Property, located 9 kilometers east of Atlin, in north-western British Columbia.
Under terms of the agreement, Eagle Plains will purchase a 40% interest in the project by providing $2,000,000 CDN in working capital, effective at closing of the agreement. These funds will be used to clear existing liens and obligations on the Property, in addition to completing upgrades of the existing mill facility and covering costs related to engineering, permitting and environmental compliance. Eagle Plains will in turn receive 60% of all proceeds of production up to $2,000,000, at which time it will revert to a 40/60 working interest. Eagle Plains will have the option of increasing its working interest to 60% by making payments to Prize totaling $2,000,000 by the sixth anniversary of the agreement. It is expected that commercial production activity will commence by the third quarter of 2009.
Yellowjacket Zone History
The Yellowjacket Zone of the Atlin Gold Property is accessible year-round by all-weather road. The claims lie along the Pine Creek valley which is an historic and continuing placer gold producing area. Basic supplies and material to support mining activity can be readily sourced out of Atlin, and specialty services may be secured in Whitehorse, Yukon, located 180 kilometres north via Highway 7 and the Alaska Highway. Hydro-electric power has been recently established to within three kilometres of the property boundary.
The Atlin placer camp ranks as the second largest producer of placer gold in the province. Mining has been the economic mainstay for the town of Atlin since the discovery of gold on Pine Creek in 1897. The mineralized zone at Yellowjacket underlies significant historical surface disturbance. Downstream topographical features have rendered Pine Creek a “low-value” fish habitat.
Gold mineralization at Yellowjacket consists of coarse gold hosted in quartz stockworks and silicified zones in brittle volcanic and altered ultramafic rocks. Gold mineralization occurs along a prominent fault structure which is interpreted to control the distribution of placer gold reported in the area.
In 1983, local area prospectors staked the Yellowjacket Property, and subsequently optioned the property to Canova and Tri-Pacific Resources. During 1984 and 1985 these companies conducted programs of ground geophysics, rotary and diamond drilling. In 1986 Homestake Mineral Development Company optioned the property from Canova and from 1986 to 1988 initiated programs of mapping, reverse circulation drilling and diamond drilling (52 holes totaling 8,057 metres).
At the completion of this program, Homestake reported a resource estimate of 453,500 tonnes grading 10.26 g/t (Schroeter, T.G. and Pinsent, R.H; BC Ministry of Energy and Mines Open File 2000-2: Gold Production and Resources in BC (1858 - 1998). (Though these estimates are considered by Eagle Plains and Prize management to be relevant, they were prepared prior to the institution of National Instrument 43-101 standards. Their reliability has not been confirmed, but will constitute a target basis for future exploration work).
Prize Mining (formerly Muskox Minerals) optioned the property in 2003 and from 2003 to 2006 drilled 57 holes for a total of 6,873 metres. A number of impressive intercepts were encountered during drilling, with values ranging from “no significant results” to grades as summarized below:
Drillhole
Interval
Width
Grade
YJ03-01 13.95m-19.51m 5.56m
513.5 g/t Au
YJ04-07 48.85m to 54.45m 5.60m
40.1 g/t Au
including 53.95m to 54.45m 0.50m
588.9 g/t Au
TW05-02 10.67m to 12.79m 2.12m
853.0 g/t Au
including: 10.67m – 11.58m 0.91m
2,397.0 g/t Au
TW05-02 20.05m – 41.50m 21.45m
11.5 g/t Au
The general area encompassed by drilling covers approximately 300 metres x 100 metres, with the deepest mineralized intersection encountered at 140 metres. The deposit appears to be open along strike in both directions and to depth.
The Yellowjacket Zone coarse gold mineralization has a pronounced “nugget effect” where adjacent samples within the same mineralized zone can have widely varying gold values. This prompted Prize in 2006 to proceed with a bulk-sampling program in order to evaluate the deposit in an economic framework. Prize engaged a number of prominent engineering, metallurgical and environmental consultants to carry out permitting, pit design, mill design and fabrication work. Regular consultation was made with the Taku River Tlingit First Nation (“TRTFN”).
Excavation activity commenced in 2007 under a 10,000 tonne bulk sample permit. A modern milling facility was constructed, and includes a 1000 kW generator, ball mill, SAG mill, feeders, pumps, conveyors, three Knelson concentrators, magnetic separator, Diester and Gemini tables and an on-site assay laboratory. Test work indicated preliminary recoveries of 81%, with ore head-grades of approximately 9.0 g/t gold. Test work done on the rock units excavated from the pit have found them to be non-acid generating.
Consultants retained by Prize have recommended modifications to the mill circuit that are expected to increase recoveries to 90% and capacity to 350 tonnes per day. Work from 2003 until present has been carried out under the supervision of Linda Dandy, P.Geo., who will continue with the project as Mine Manager.
A photo gallery of the property and mill equipment may be found here
The Yellowjacket JV intends to meet the following objectives during 2009:
* compile all existing geological, geophysical, environmental and engineering data into a GIS database
* remove liens and encumbrances on the property
* complete application for BC Small Mines Permit (up to 75,000 tonnes per year)
* complete modifications to existing mill facility
* resume milling of stockpiled ore
* dewater existing pit
* commence expansion of existing pit
* commence commercial production with target of 35,000 tonnes throughput during Q3
* explore possibilities for year-round custom milling
* study feasibility of connecting to newly established hydro-electric facility
* design and execute exploration program for future expansion
Tim Termuende, President and CEO of Eagle Plains states “we are excited about participating with Prize Mining on this project. We recognize the quality and incredible amount of work required to bring the project to this stage, and are pleased to be able to provide financial and technical assistance to advance it, ultimately to the benefit of the local community, the Taku River Tlingit First Nation, Prize Mining and shareholders of Eagle Plains”. Harry McGucken, President of Prize Mining, added “we are extremely pleased with this new association and what Eagle Plains and its team bring to this project. The addition of their technical expertise will now enable the project to get to the next level of development for the benefit of all concerned”.
The Yellowjacket Joint Venture is committed to working on the Yellowjacket project in a sustainable and responsible manner. The project is situated within the traditional territory of the TRTFN, and as such, will only move forward with the trust and support of the TRTFN leadership and membership, and the people of the Atlin community. The project proponents look forward to establishing a strong relationship with all stakeholders, based on responsible economic and environmental stewardship and mutual respect.
About Eagle Plains Resources
Eagle Plains Resources continues to conduct research, acquire and explore metal projects in western Canada. The Company controls over 35 gold, base-metal and uranium projects, many with third parties including Teck Limited (TSX:TCK.B - News), Alexco Resource Corp. (TSX-V:AXR - News), Sandstorm Resources Ltd. (TSX-V:SSL.P - News), Waterloo Resources Ltd (TSX-V:WAT.P - News), Mountain Capital Inc. (TSX-V:MCI.P - News) and XO Gold Resources Ltd. (a private B.C. company). These agreements expose Eagle Plains to over $15.0 million in exploration expenditures over a five year period. In recent years, Eagle Plains has completed option agreements with Billiton Metals, Rio Algom Exploration, NovaGold Resources, Kennecott Exploration and numerous other junior exploration companies, resulting in over 52,000m (158,500’) of drilling and over $27.0 million in exploration spending on its projects since 1998. 2008 expenditures on Eagle Plains’ projects were approximately $6,000,000, funded equally between Eagle Plains and third party partners. In 2009, management anticipates approximately $1.2 million in exploration expenditures funded by partners.
This news release has been reviewed and approved by Tim J. Termuende, P.Geo., hereby designated as a “Qualified Person” under National Instrument 43-101.
On behalf of the Board of Directors
Signed
“Tim J. Termuende”
President and CEO
Cautionary Note Regarding Forward-Looking Statements
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Contact:
Eagle Plains Resources Ltd.
Mike Labach, 1-866-HUNT-ORE (486-8673)
mgl@eagleplains.com
http://www.eagleplains.com
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