Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Friday, DEC. 10, 2010 - News for EPL.V/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
From $0.22 cents a share last week to $1.24 at the top today, Eagle Plains is soaring to near its value. It has been a very long wait, but finally worth it. I have a $3 target. It may take some time but the volume over the last 4 trading days points to a higher upper resistance area near $3 a share.
Also there are gapped opening numbers that may be revisited. The first one is in the $0.75 area, but if their iron ridge projects keeps attracting attention the upward resistance areas are more likely... we shall see.
==btrain
Eagle Plains is finally getting volume and a boost in the share price. Today, it has risen 29% so far at $.471 a share.
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 27 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
Eagle Plains/Providence Capital Expand Drill Program on Iron Range Project, South-eastern British Columbia
http://finance.yahoo.com/news/Eagle-PlainsProvidence-bw-1397392350.html?x=0&.v=1
News Oct 12: News for 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
NEWS OCT 6, 2010 EPL.V - (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 10 - Eagle Plains signs Letter of Intent for Bohan Property, southeastern British Columbia
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
Eagle Plains Announces Offer to Purchase Yellowjacket Project
Thu Jun 10, 10:30 AM
http://ca.news.finance.yahoo.com/s/10062010/34/biz-f-business-wire-eagle-plains-announces-offer-purchase-yellowjacket-project.html
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/Alexco Enter Into Option/Purchase Agreement for McQuesten Gold Property, Yukon Territory
Wednesday October 10, 12:00 pm ET
http://ca.us.biz.yahoo.com/iw/071010/0313436.html
CRANBROOK, BC--(MARKET WIRE)--Oct 10, 2007 -- Eagle Plains Resources Ltd. (CDNX:EPL.V - News) announces that it has executed a formal option/purchase agreement with Alexco Resource Corp (Toronto:AXR.TO - News) (AMEX:AXU - News) whereby Eagle Plains has granted Alexco an option to purchase Eagle Plains' 30% interest in the McQuesten Joint Venture (currently held 70/30% by Alexco and Eagle Plains). The property is located approximately 40km north of Mayo, within the Keno Hill Mining District. The joint venture property consists of 55 quartz mining claims (2,500 acres) that are accessed by the all-weather Yukon Silver Trail highway with an adjacent hydro-electric transmission line. The village of Elsa is located 5km to the north.
Eagle Plains has had an interest in the property since 1995, when it optioned a 100% interest from B. Kreft, a well-known Yukon prospector. In 1997, a 70% interest was optioned to Viceroy Exploration, who in turned transferred its interest to NovaGold Resources, who in turn transferred it to SpectrumGold Resources. In 2006, the 70% interest was again transferred to Alexco.
A number of drilling campaigns have been completed on the property, with the most recent consisting of a 10,000 foot program carried out by SpectrumGold in 2003. Drilling and trenching on the McQuesten property indicates the presence of a large mineralized system hosted within calcareous meta-sediments and intrusive rocks. Mineralization consists of disseminated and semi-massive sulphides (pyrrhotite, pyrite and arsenopyrite) in quartz-sericite and skarn alteration packages of sedimentary rocks.
Drill holes in the West Zone contain up to 18.3 m of 3.74 g/t and 24.4 m of 2.16 g/t Au. Trenches include 16.0 m of 2.67 g/t and 27.0 m of 1.62 g/t Au. Drill holes in the East Zone contain up to 16.3 m of 2.19 g/t and 9.6 m of 2.87 g/t Au. Trenches include 9.2 m of 4.94 g/t and 8.3 m of 2.72 g/t Au. Both zones remain open along strike.
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 Cominco Ltd (Tokyo:TCK.T - News), Alexco Resource Corp. (Toronto:AXR.TO - News) (AMEX:AXU - News), Wellstar Energy Corp. (CDNX:WST.V - News), Blue Sky Uranium Corp., Blind Creek Resources and Golden Cariboo Resources Inc. These agreements expose Eagle Plains to over $20 million in exploration expenditures over the next five years. In recent years, Eagle Plains has completed option agreements with Billiton Metals, Rio Algom Exploration, NovaGold Resources, Kennecott Exploration, Viceroy Resource Corp. and numerous other junior exploration companies, resulting in over 38,000m (125,000') of drilling and over $16,000,000 in exploration spending on its projects since 1998. During the 2006 season, EPL and its partners completed over 7,000m (23,000') of diamond drilling on its properties.
On behalf of the Board of Directors
Signed
"Tim J. Termuende"
President and CEO
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.
Distributed by Filing Services Canada and retransmitted by Marketwire
Contact:
For further information please contact:
Mike Labach
1 866 HUNT ORE (486 8673)
Email: Email Contact
http://www.eagleplains.com
Source: Eagle Plains Resources Ltd.
Eagle Plains sp price has moved up from .73 to ninety two cents in just one week!
Now if only 1 or more of the stocks I own could get hot, I could sell some and buy some of this great stock before it climbs beyoond my grasp!
Then I would have to wait for Winter and hope EPL 'cools off' and comes back down for my purchase.
that is fantastic. You are very correct, biggest issue is drills but also crews are an issue also. Been involved in other plays where the drills were available but the crews were not top notch so they waited.
Okay. Eagle Plains has bought a controlling interest in a drilling company which owns a diamond drill (with a good reliable crew to work it).
This is an added advantage for EPL because, like the oil companies, there is a HUGE demand for drills and competent reliable crews.
It is not uncommon for junior mining companies to be forced to reschedule use of drills thus pushing them behind in exploration efforts.
Thats something that Eagle Plains won't have to worry about. :)
no problem, we can keep the discussion to eagle plains-you can still look at other boards
??? Brief case, I am a Free member not a Premiom member. I'm not allowed to have a general discussion board...just a single company board...which just happens to be EPL.V not CPP.V.
Therefore, I will not comment anymore on any other company NOR will I permit anyone to comment on other companies on this board either!
If I should be so fortunate to become a Premium member, I will create a general discussion board and thus the rules will be less stringent.
I realize in one of my prior posts I mentioned other companies. That was a mistake and it will not be repeated again.
Yes. For uranium...RPT.V. for diamonds...DMDD, for domestic oil and gas...NSE.V, and for international oil and gas...CAX.T (the best potential turnaround situation I have ever seen in a Toronto listed oil and gas company).
Will do, will also do some dd over the next few days also. Are you following any other Canadian stories?
Eagle Plains already has 2 projects that are advanced enough to have inferred resources of more than a billion dollars of (ore)s EACH!
The Blende project has inferred resources of:
1.3 Billion pounds of zinc
1.2 Billion pounds of lead
35 million ounces of silver
The Sphinx project has inferred resources of 48 million pounds of molybdenum.
Brief case...please bookmark this board. I will endeavor to post about this company at least once a week. :)
sounds like an interesting story. Any other details?
Eagle Plains has $9 million in the bank and they control a HUGE swath of land in the Mackenzie Valley where they have ALREADY made an exciting discovery...and thats only ONE out of the THIRTY FIVE projects they have!! :)
Followers
|
7
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
78
|
Created
|
03/24/07
|
Type
|
Free
|
Moderators |
Eagle Plains Resources Ltd. (EPL: TSX-V) is a junior exploration & mining company operating in western Canada.
Eagle Plains Resources primary objective is to enhance shareholder value through acquisition and development of early stage mineral exploration projects using our in-house geological and financial expertise. The company currently controls over 35 gold, silver, uranium, copper, molybdenum, zinc and rare earth mineral projects.
Exploration
Since 1992, Eagle Plains Resources (EPL:TSX-V) has been aggressively acquiring and developing early stage mineral exploration projects in Western Canada. To develop these projects, we have assembled an expert in-house technical team of geologists, technicians and geographic information system specialists. Seasonally we also contract geologists specializing in specific types of mineralization to assist with our field programs. The company currently controls over 35 gold, silver, uranium and base-metal and rare earth mineral projects.
With over 35 projects, EPL is considered a project generator and invites joint venture participation to expedite project development. The joint venture model reduces shareholder exposure to the risk of exploration and enhances exposure to a discovery. With our in-house staff we are able to technically assist our joint venture partners.
Creating Shareholder Value
To create shareholder value when a discovery is made, EPL may spin-off the project into a new corporate entity. This spotlights the projects value, creates value with new shares and makes it available for acquisition by a producing company. An example of this is Copper Canyon Resources (CPY : TSX-V). This spin-off was conducted through a "Plan of Arrangement" and resulted in a one-for-one share distribution.
RECENT COMPANY NEWS EPL.V / U.S. EPLFF.PK:
February 1, 2011
CRANBROOK, British Columbia, Feb 01, 2011 (BUSINESS WIRE)
Eagle Plaines 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
###
January 6, 2011:
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 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 URL: http://www.useTDAS.com
DEC. 10, 2010:
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:
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
CHARTS:
Moderating this iHub board is a volunteer effort. No compensation is provided.
Disclaimer: This board is not sanctioned by, or approved by Eagle Plaines Resources, Ltd. All information posted is gathered from sources believed to be reliable, but no guarantee is offered as to its completeness or accuracy. All opinions posted are the opinions of the authors, and are not to be relied upon as a substitute for Due Diligence. No investment advice is being offered or inferred by participants on this board, or this boards hosting company.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |