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===Eagle Plains Resources ("Eagle Plains") staked the current claims immediately after the Crown grants reverted in 2000, and it has been exploring the property since then. ====
Hello btrain,
Hope you are doing well....I once again sold my wnr early and appreciate your post over there last year. You once timed a low in that stock almost perfectly....
Anyway, I was wondering if you know just how this process of staking a claim is done? Does one wait in some office waiting in line once a deadline passes, or is it done electronically?
With the popularity of shows on the Discovery TV station like, "Gold Rush," and "Bering Sea Gold," I have often wondered just how one "stakes a claim," in modern times....
Take Care and GLTU.
News for 'EPL.V/EGPLF' - Providence Completes Earn-In on Iron Range Option, Enters
Joint-Venture with Eagle Plains
Cranbrook, British Columbia CANADA, Mar 12, 2012 (Filing Services Canada via
COMTEX) -- Providence Resources Corp. (TSX-V: PV) ("Providence" or the
"Company") and Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTC Pink)
("Eagle Plains") are pleased to announce that Providence has exercised its
option with Eagle Plains and earned a 60% undivided right, title and interest in
and to the Iron Range Project located near Creston, British Columbia. Providence
earned its interest by making aggregate cash payments of $500,000, issuing a
total of 1,000,000 common shares and completing exploration expenditures of
$3,000,000.
In accordance with the terms of the option agreement, Providence and Eagle
Plains are deemed to have formed a joint venture for exploration and development
of the Iron Range Project. The parties have recently executed a formal joint
venture agreement and are in advanced planning and permitting for a drilling
program which is expected to commence on the property by late March.
Tim Termuende, P.Geo, President and CEO of Eagle Plains stated recently "we
welcome the opportunity to work as joint-venture partners with Providence in the
future exploration of the Iron Range project. We are encouraged by results to
date and acknowledge and appreciate the aggressive, systematic approach taken by
Providence to date. Together, we hope to unlock the potential of the property"
Iron Range Project Summary
The Iron Range deposits were originally staked in 1897, and were covered by
Crown grants held by Cominco Ltd. and the Canadian Pacific Railway. Eagle Plains
Resources ("Eagle Plains") staked the current claims immediately after the Crown
grants reverted in 2000, and it has been exploring the property since then.
Exploration work to date includes geological mapping, geochemical surveys,
diamond drilling and a 690-line-kilometre airborne geophysical survey.
The Iron Range project is owned 100% by Eagle Plains and holds no underlying
royalties or encumbrances. An additional 35,800 hectares of claims were added to
the original land package, resulting in a total of 56,200 hectares -- an area
approximately 11 km by 50 km. The land package now covers over 30 km of the Iron
Range structure, most of it unexplored. The claims also overlie rocks of the
Aldridge formation, including the same stratigraphic time horizon that hosts the
world-class Sullivan deposit located 70 km to the northeast. Over its 100-year
lifetime, Sullivan produced approximately 150 million tonnes of ore including
three billion ounces of silver, eight million tonnes of zinc and eight million
tonnes of lead, collectively worth over $30-billion at current metal prices. The
parties caution that past results or discoveries on proximate land are not
necessarily indicative of the results that may be achieved on the Iron Range
property.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore mineral projects
throughout western Canada. Since 1992, EPL has been acquiring and developing
early stage projects utilizing an in-house team of geologists, technicians and
specialists. Considered a prolific project generator with over 35 properties,
EPL invites joint venture participation to expedite development, reduce risk and
enhance exposure to discovery.
Current third party agreements if maintained to completion expose EPL to over
$55M in exploration expenditures, $6M cash and 15M shares in partner companies.
Completed agreements have yielded over $5M in exploration spending, $900,000
cash to EPL and a total of 12M shares of partner companies including Alexco
Resource Corp., NovaGold Resources Inc., Giyani Gold Corp., Aben Resources Ltd.
and others.
Expenditures during 2011 on Eagle Plains-related projects were approximately
$9,100,000 which was funded by Eagle Plains and third party partners. This
exploration work resulted in approximately 9400m diamond drilling and extensive
ground-based exploration work facilitating the advancement of more than 15
projects at various stages of development. Planning is currently underway for a
very aggressive 2012 exploration season, with over 10 individual drilling
programs planned, most to be funded by third parties in relation to ongoing
option agreements.
On behalf of the Board of Directors
Signed
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
Feb 21, 2012 - News for 'EPL.V/EGPLF' - Eagle Plains/Providence Identify 3 High-Priority Drill Targets
from 2011 Airborne EM Geophysical Surveys
Feb 21, 2012 (Filing Services Canada via COMTEX) -- Eagle Plains/Providence
Identify 3 High-Priority Drill Targets from 2011 Airborne EM Geophysical Surveys
Vancouver, B.C., February 21, 2012: Eagle Plains Resources Ltd. (TSX-V:EPL) and
Providence Resources Corp. (TSX-V: PV) and Providence Resources Corp. (TSX-V:
PV) are pleased to announce receipt of results from airborne geophysical field
surveys carried out over their Iron Range JV project located near Creston
British Columbia. During October-November 2011, Geotech Ltd. carried out VTEM
time-domain EM and ZTEM AFMAG surveys over parts of the Iron Range Project. The
results have subsequently been processed and interpreted by Condor Consulting,
Inc. of Lakewood Colorado.
Highlights:
* 440 line-km of airborne geophysical data has been collected over the Property
area during 2011.
* 3 high-priority VTEM electromagnetic geophysical anomalies have been
delineated in the Row target area, and are coincident with a 5km-long arsenic,
zinc and lead soil geochemical anomaly.
* The ZTEM survey successfully identified the Iron Range Fault as well as a
northeast-trending fault similar in orientation to the gold-bearing faults at
the Talon Zone.
"Geophysical data collected on the Iron Range Project has produced three high
priority EM conductors that coincide with lead, zinc and arsenic geochemical
anomalies on the Row Target Area," stated Providence Resources Corp.'s President
and CEO Vince Sorace. "The combined results from the geophysical surveys have
fine-tuned the Iron Range geological model and increased our confidence in the
Row Target area which will be drill-tested upon receipt of applicable permits,
which are expected by Q2, 2012."
Geophysical Survey Results
VTEM time domain-EM
A total of 7 anomalies were defined from the VTEM survey; see
http://www.eagleplains.com/projects/bc/ironrange/documents/vtem_2011geophysicsmap.pdf
Anomalies 1-3 represent high-priority EM anomalies and are located within and
immediately adjacent to a ~5 kilometer-long lead-zinc-arsenic soil anomaly
situated in prospective middle Aldridge Formation sedimentary rocks. These three
anomalies may be an indication of subsurface Sullivan style lead-zinc-silver
mineralization and will be drill tested in Spring, 2012. Anomalies 4 to 7
represent secondary priority targets and are likely related to the subsurface
geology. Anomaly 4 is a broad, low level conductor associated with a magnetic
contact and is interpreted to represent a near-surface bedrock anomaly or
conductive overburden. Anomaly 5 is a formational anomaly defined by coincident
EM and magnetic anomalies which correspond to the location of a sliver of upper
Aldridge Formation sedimentary rocks. Anomaly 6 is a broad, northeast trending
conductive zone associated with a linear, northeast trending magnetic anomaly.
Drilling done in this area indicates that the anomaly is related to graphite
within the Aldridge Formation sedimentary rocks. Anomaly 7 is interpreted to be
an artifact that is related to a power line that transects this portion of the
VTEM survey.
ZTEM AFMAG Survey
The ZTEM orientation survey was conducted over the Canyon Target (Talon Zone) to
determine whether this geophysical method would be capable of mapping bedrock
geology based upon the known resistivity and magnetic susceptibility contrasts
within the Aldridge sedimentary rocks; see
http://www.eagleplains.com/projects/bc/ironrange/documents/ztem_2011geophysicsmap.pdf
The survey successfully identified the Iron Range Fault as well as a
northeast-trending fault similar in orientation to the gold-bearing faults at
the Talon Zone. In addition, the survey identified the broad conductive zone
also detected by the VTEM survey. This information is useful in better
understanding the subsurface geology of the Iron Range area and how known target
areas relate to major rock units and structures.
2012 Exploration Program
The Company intends to execute a full exploration program beginning in March,
2012 (subject to receipt of permits) with the objective of systematically
evaluating all existing exploration data, utilizing newly acquired geophysical
data, field evaluating all resulting anomalies and ultimately drill testing the
highest priority targets.
* Geophysical gravity survey - it is anticipated that results from this work
will be available in March, 2012.
* Winter drilling (Phase I) of high-priority geophysical and geochemical
anomalies. High priority targets have been identified during the evaluation of
historical geochemistry, 2011 soil geochemical surveys, and 2011 airborne
geophysical data. Additional targets are anticipated.
* Field work will be completed in summer 2012 with the objective of bringing
remaining targets to the drill testing stage for Phase II drilling in late 2012.
Qualified Persons
Geotech Ltd. VTEM data acquisition phase was carried out under the supervision
of Alexander Prikhodko, PhD, P. Geo., Geotech Ltd. Processing and 2D Inversions
phases were carried out under the supervision of. Alexander Prikhodko, PhD, P.
Geo. Geotech Ltd. ZTEM data acquisition phase was carried out under the
supervision of Jean Legault, P. Geo, P. Eng, Chief Operating Officer, Geotech
Ltd. The processing and interpretation phase was under the supervision of Jean
Legault, P. Geo, P. Eng, Chief Geophysicist (Interpretation), Geotech Ltd.
Iron Range Project
Summary
The Iron Range deposits were originally staked in 1897, and were covered by
Crown grants held by Cominco Ltd. and the Canadian Pacific Railway. Eagle Plains
Resources ("Eagle Plains") staked the current claims immediately after the Crown
grants reverted in 2000, and it has been exploring the property since then.
Exploration work to date includes geological mapping, geochemical surveys,
diamond drilling and a 690-line-kilometre airborne geophysical survey.
The Iron Range project is owned 100% by Eagle Plains and holds no underlying
royalties or encumbrances. An additional 35,800 hectares of claims were added to
the original land package, resulting in a total of 56,200 hectares -- an area
approximately 11 km by 50 km. The land package now covers over 30 km of the Iron
Range structure, most of it unexplored. The claims also overlie rocks of the
Aldridge formation, including the same stratigraphic time horizon that hosts the
world-class Sullivan deposit located 70 km to the northeast. Over its 100-year
lifetime, Sullivan produced approximately 150 million tonnes of ore including
three billion ounces of silver, eight million tonnes of zinc and eight million
tonnes of lead, collectively worth over $30-billion at current metal prices. The
parties caution that past results or discoveries on proximate land are not
necessarily indicative of the results that may be achieved on the Iron Range
property.
Providence Option Agreement
The Iron Range project is owned 100% by Eagle Plains and holds no underlying
royalties or encumbrances. Providence holds the option to earn a 60% interest in
the Property by spending $3,000,000 on exploration, making $500,000 in cash
payments and issuing 1,000,000 shares to EPL over 4 years.
Geophysical Survey Specifications
Versatile Time Domain Electromagnetic Survey (VTEM)
The Geotech Ltd. airborne VTEM survey was flown in an east to west (N 172? E
azimuth) direction, with a line spacing of 200 meters. Tie lines were flown
perpendicular to the traverse lines (N 82 degrees E azimuth) at a spacing of
1800 meters respectively for a total of 282.3 line kilometers. This survey also
included a cesium magnetometer. The VTEM plus receiver and transmitter coils
were in concentric-coplanar and Z-direction oriented configuration. The receiver
system for the survey also included a coincident-coaxial X-direction coil to
measure the in-line dB/dt and calculate B-Field responses. The EM bird was towed
at a mean distance of 35 meters below the helicopter.
Z-Axis Tipper Electromagnetic Survey (ZTEM)
Geotech Ltd. carried out a 160.0 line-kilometer, helicopter-borne AFMAG Z-axis
Tipper electromagnetic (ZTEM) and aero magnetic (caesium magnetometer)
geophysical survey centered on the Canyon Target Area. The survey was flown in a
southwest to northeast (N 78 degrees E azimuth) direction, with flight line
spacing between 200 and 250 metres (mean height of 277 meters). Tie lines were
not flown. According to survey specifications, a vertical-dipole air-core
receiver coil and two orthogonal, air-core horizontal axis coils are placed
close to the survey site to measure the horizontal EM reference fields. Data
from the three coils are used to obtain the Tzx and Tzy "Tipper" components at
six frequencies in the 30 to 720 Hz band.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore mineral projects
throughout western Canada. Since 1992, EPL has been acquiring and developing
early stage projects utilizing an in-house team of geologists, technicians and
specialists. Considered a prolific project generator with over 35 properties,
EPL invites joint venture participation to expedite development, reduce risk and
enhance exposure to discovery.
Current third party agreements if maintained to completion expose EPL to over
$55M in exploration expenditures, $6M cash and 15M shares in partner companies.
Completed agreements have yielded over $5M in exploration spending, $900,000
cash to EPL and a total of 12M shares of partner companies including Alexco
Resource Corp., NovaGold Resources Inc., Giyani Gold Corp., Aben Resources Ltd.
and others.
Expenditures during 2011 on Eagle Plains-related projects were approximately
$9,100,000 which was funded by Eagle Plains and third party partners. This
exploration work resulted in approximately 9400m diamond drilling and extensive
ground-based exploration work facilitating the advancement of more than 15
projects at various stages of development. Planning is currently underway for a
very aggressive 2012 exploration season, with over 10 individual drilling
programs planned, most to be funded by third parties in relation to ongoing
option agreements.
On behalf of the Board of Directors
Signed
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
Feb 14, 2012 -News for 'EPL.V/EGPLF' - Eagle Plains Samples High-Grade Uranium, Increases Land Position
at Wollaston Project, Northern Saskatchewan
Cranbrook, British Columbia CANADA, Feb 14, 2012 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTC Pink)has
completed staking activity following receipt of high-grade assay results from
grab samples taken during 2011 fieldwork on its Wollaston Project, located
within the Athabasca region of north-central Saskatchewan.
The Wollaston claims are located along highway 905, an all-season road with
access to the nearby Rabbit Lake and Cigar Lake uranium mines. The 5000 ha,
road-accessible property was originally staked by Eagle Plains in early 2011,
based on prospective airborne radiometric anomalies and coincident lake-sediment
U and REE anomalies proximal to a published Saskatchewan Mineral Index showing.
The mineral claims are 100% owned by Eagle Plains Resources and have no
underlying royalties or encumbrances.
Reconnaissance fieldwork by Eagle Plains during summer and fall, 2011, revealed
anomalous radioactivity along a 460m strike length of Wollaston metasediments,
intruded by numerous sills and mineralized fractures. Ten grab samples were
collected along the 460m strike length, two of which returned very significant
mineralization: 7.05% and 1.40% U3O8, with up to 2.93% ThO2, 16700 ppm lead, and
1167 ppm TREE (total rare-earth elements).
The claim group region is comprised of Archean granite inliers, overlain by
metasedimentary rocks of the Wollaston Group, all of which have been intruded by
pegmatite dykes and stocks. This sequence of basement rocks is similar to those
that host the lower ore bodies of the Eagle Point Mine, and as such;
basement-hosted unconformity-style mineralization remains a viable target
deposit type.
Proposed work for 2012 includes detailed mapping and prospecting in the vicinity
of the new showings, plus along-strike surface geochemical and geophysical
surveys and regional prospecting of several prospective, untested airborne
geophysical anomalies.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore mineral projects
throughout western Canada. Since 1992, EPL has been acquiring and developing
early stage projects utilizing an in-house team of geologists, technicians and
specialists. Considered a prolific project generator with over 35 properties,
EPL invites joint venture participation to expedite development, reduce risk and
enhance exposure to discovery.
Current third party agreements if maintained to completion expose EPL to over
$55M in exploration expenditures, $6M cash and 15M shares in partner companies.
Completed agreements have yielded over $5M in exploration spending, $900,000
cash to EPL and a total of 12M shares of partner companies including Alexco
Resource Corp., NovaGold Resources Inc., Giyani Gold Corp., Aben Resources Ltd.
and others.
Expenditures during 2011 on Eagle Plains-related projects were approximately
$9,100,000 which was funded by Eagle Plains and third party partners. This
exploration work resulted in approximately 9400m diamond drilling and extensive
ground-based exploration work facilitating the advancement of more than 15
projects at various stages of development. Planning is currently underway for a
very aggressive 2012 exploration season, with over 10 individual drilling
programs planned, most to be funded by third parties in relation to ongoing
option agreements.
On behalf of the Board of Directors
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
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.
To view this release as a web page, please click on the following link:
http://www.usetdas.com/pr/eagle02142012.htm
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
The Proof’s In The Porphyry
Northern Freegold Drills Yukon Gold, Silver, Copper, Moly
By Greg Klein
Northern Freegold’s TSXV:NFR January 18 inferred resource estimate was, as President/CEO/Director John Burges says, another milestone in its rapidly advancing Freegold Mountain Project in central Yukon. The Revenue Deposit’s initial 43-101 came in addition to the adjacent Nucleus Deposit’s existing resource of 1.39 million gold-equivalent ounces indicated and 898,000 gold-equivalent ounces inferred.
The boost of 3.66 million gold-equivalent ounces prompted analysts Michael Fowler and Leonie Soltay of Loewen Ondaatje McCutcheon to rate Northern Freegold a speculative buy with a target of $1.44—a steep hike from its January 18 high of
.30.
Read the rest of this article. http://resourceclips.com/2012/02/13/the-proofs-in-the-porphyry/
Feb 3, 2012 - News for 'EPL/EGPLF' Eagle Plains Announces Directors Resignation
Cranbrook, British Columbia CANADA, Feb 03, 2012 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTC
Pink),announce that David L. Johnston, P.Eng. has resigned as a director of
Eagle Plains. Mr. Johnston has agreed to remain with the Company in an advisory
role, and will join Robert W. Termuende, P.Geol. on the Advisory Board.
The Board would like to thank Mr. Johnston for his valuable guidance, insight
and assistance over the years, which saw the Company steadily grow and create
shareholder value through the spin-out arrangements of Copper Canyon Resources
Ltd. (acquired by NovaGold in 2011), Omineca Mining and Metals Ltd. and
Yellowjacket Resources Ltd.
Mr. Johnston has had an illustrious career in the Canadian mining industry with
senior management posts including: president and general manager of Highland
Valley Copper Corporation, vice president of Cominco Metals, and president of
Pine Point Mines Ltd. As well as serving on the board of Eagle Plains and Copper
Canyon, Mr. Johnston has been an Independent Director of Silver Standard
Resources Inc., since May 17, 2000. Mr. Johnston graduated with a Bachelor of
Applied Science degree in Mining Engineering in 1963 and a Master of Science
degree in Mineral Engineering in 1969.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore mineral projects
throughout western Canada. Since 1992, EPL has been acquiring and developing
early stage projects utilizing an in-house team of geologists, technicians and
specialists. Considered a prolific project generator with over 35 properties,
EPL invites joint venture participation to expedite development, reduce risk and
enhance exposure to discovery.
Current third party agreements if maintained to completion expose EPL to over
$64M in exploration expenditures, $7.4M cash and 28.6M shares in partner
companies. Completed agreements have yielded over $17M in exploration spending,
$1M cash to EPL and a total of 16M shares of partner companies including Alexco
Resource Corp., NovaGold Resources Inc., Giyani Gold Corp., Aben Resources Ltd.
and others.
Expenditures during 2011 on Eagle Plains-related projects were approximately
$9,100,000 which was funded by Eagle Plains and third party partners. This
exploration work resulted in approximately 9400m diamond drilling and extensive
ground-based exploration work facilitating the advancement of more than 15
projects at various stages of development. Planning is currently underway for a
very aggressive 2012 exploration season, with over 10 individual drilling
programs planned, most to be funded by third parties in relation to ongoing
option agreements.
On behalf of the Board of Directors
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
Feb 2, 2012 News for 'EPL.V/EGPLF' - Eagle Plains/SinoGas Execute Option Agreement on Eagle Lake,
Saskatchewan Uranium Property
Cranbrook, British Columbia CANADA, Feb 02, 2012 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTC Pink)and
SinoGas West Inc. (TSX-V:GZW.P) have entered into a formal option agreement
whereby Eagle Plains has agreed to grant an option to SinoGas to earn a 60%
interest in EPL's 100% owned Eagle Lake uranium project located 28 km southeast
of Cameco's Key Lake mining operation in north-central Saskatchewan, Canada.
Terms of the option agreement
Pursuant to the option agreement (subject to regulatory approval), SinoGas West
Inc. will have the exclusive option to acquire a 60-per-cent interest in the
Eagle Lake property by issuing up to one million common shares of the company,
making aggregate cash payments of $300,000 and incurring aggregate exploration
expenditures of $3-million over the course of five years. $350,000 is currently
budgeted for 2012 exploration work.
Property Highlights
* 80-150m wide mineralized dyke swarm discovered at Red October occurrence, with
mineralized dykes locally up to 10m in width.
* Samples returned up to 1.56% U308 over 1m and grab samples returned up to
2.24% U308.
* 800m+ mineralized boulder train indicates broad mineralized zone
Property History
The claims cover 14,000 ha containing uranium mineralization originally
discovered by Great Plains Development Company of Canada Ltd. during the 1969
Athabasca Basin uranium rush. The 1969 work program was carried out under the
supervision of R.W. (Bob) Termuende, later a founding director of Eagle Plains.
Exploration in the area now covered by the Eagle Lake property by Great Plains
between 1969 and 1971 reportedly identified a float boulder train 1.5 kilometers
in length. Great Plains reported high radon gas values from both water and soil
samples collected near the uraniferous boulder train. Notably, the bedrock
source for these float boulders was not located.
Mulligan Capital (now Blue Sky Uranium) optioned the property in August, 2006
and in 2007, carried out systematic exploration work including an airborne
geophysical survey, soil geochemical sampling, mapping and prospecting. Blue Sky
subsequently relinquished its option in August, 2008. A number of areas of
interest were identified during the course of this work, including the "Red
October" showing. Subsequent work has defined the Red October showing over 270
meters of strike length in trenches, within a geochemical anomaly of over 500
meters strike length associated with an airborne geophysical anomaly of greater
than 1 kilometer. Samples collected from the showing and trenches returned
exceptional uranium assays including a 1.0 m yellow-stained chip sample which
returned 1.56% U3O8 and a grab sample of a yellow-stained black alteration
selvage which returned 2.24% U3O8. The mineralization is associated with
intrusions and meta sediments of the Wollaston Group.
The Eagle Lake property lies within the Wollaston domain and consists of
metasedimentary gneisses and schists, including pelitic schists and gneisses
with graphitic horizons. EPL will focus on exploring for uranium deposits in
north to northwest-trending faults which are interpreted to have formed
structural traps where uranium mineralization may have been deposited and
preserved.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore mineral projects
throughout western Canada. Since 1992, EPL has been acquiring and developing
early stage projects utilizing an in-house team of geologists, technicians and
specialists. Considered a prolific project generator with over 35 properties,
EPL invites joint venture participation to expedite development, reduce risk and
enhance exposure to discovery.
Current third party agreements if maintained to completion expose EPL to over
$64M in exploration expenditures, $7.4M cash and 28.6M shares in partner
companies. Completed agreements have yielded over $17M in exploration spending,
$1M cash to EPL and a total of 16M shares of partner companies including Alexco
Resource Corp., NovaGold Resources Inc., Giyani Gold Corp., Aben Resources Ltd.
and others.
Expenditures during 2011 on Eagle Plains-related projects were approximately
$9,100,000 which was funded by Eagle Plains and third party partners. This
exploration work resulted in approximately 9400m diamond drilling and extensive
ground-based exploration work facilitating the advancement of more than 15
projects at various stages of development.
Signed,
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
Jan 31, 2012 News for 'EPL.V/EGPLF' - Eagle Plains/Providence Receive Results of 2011 Soil Sample
Survey and Strengthens Priority Drill Targets on the Iron Range Project
Vancouver, British Columbia CANADA, Jan 31, 2012 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTC Pink),and
Providence Resources Corp. (TSX-V: PV) are pleased to announce receipt of
results from the 2011 soil sampling program on the Iron Range Project. Results
from the extensive program (4,233 samples) validate historical soil anomalies
and identify additional prospective areas. Historical anomalies in the Row and
Canyon target areas have been confirmed - these targets have been selected for
drill testing in 2012. The remainder of the anomalies identified in the 2011
survey will be ranked and field evaluated as part of the 2012 Iron Range
exploration program. A map outlining the 2011 soil sampling results is located
at:
http://www.eagleplains.com/projects/bc/ironrange/documents/2011_soil_anomalies.pdf
"The 2011 soil sampling program has exceeded our expectations - it has validated
the 5 kilometer-long Row soil anomaly and demonstrates that the Iron Range is
prospective for both Sullivan style lead-zinc-silver as well as gold
mineralization." Stated Providence Resources Corp.'s President and CEO Vince
Sorace. "The combined results from the new and historical sampling campaigns are
highly encouraging; our technical team will correlate these anomalies with those
obtained from the 2011 geophysical survey as soon as data is available."
The 2011 soil sampling results build upon historical geochemical surveys by
confirming, infilling and/or expanding historical anomalies. The highlights of
the program are listed below:
* Confirmation soil sampling on the Row Target has validated the historical
dataset by producing a coincident lead-zinc-arsenic anomaly similar in scale and
intensity to the historical dataset. This target will be drill tested in 2012.
* Infill soil sampling in the Canyon target area produced a robust arsenic
anomaly measuring 1 km by 0.7 km with coincident gold, lead and zinc anomalies.
Gold mineralization discovered along the southern margin of this anomaly in 2010
confirms the presence of gold mineralization at this target area. The remainder
of the Canyon Anomaly will be drill tested in 2012.
* Three new soil grids (Arrow East, Canyon East and Gap grids) have produced
additional gold, arsenic, lead and zinc soil anomalies, which will be the
followed up during a systematic surface exploration program in Q2 2012.
The Company intends to execute a full exploration program in Q2 2012 with the
objective of systematically evaluating all existing exploration data, utilizing
newly acquired geophysical data, field evaluating all resulting anomalies and
ultimately drill testing the highest priority targets.
* Geophysical electromagnetic and gravity surveys - it is anticipated that
results from this work will be available in February 2012.
* Winter drilling (Phase I) of high-priority geophysical and geochemical
anomalies. Two targets have been identified during the evaluation of historical
geochemistry and additional targets are anticipated.
* Field work will be completed in summer 2012 with the objective of bringing
remaining targets to the drill testing stage for Phase II drilling in late 2012.
Qualified Person
The soil sampling program at the iron Range Project was designed and implemented
by TerraLogic Exploration of Cranbrook, B.C. (a wholly-owned subsidiary of Eagle
Plains). All fieldwork is under the supervision of geologist J.K. Ryley while
C.C. Downie, P.Geo. is hereby identified as the overall project supervisor.
Technical aspects of this news release have been reviewed and approved by T.J.
Termuende, P.Geo., hereby designated as a qualified person under National
Instrument 43-101.
Field personnel for the project took 4,322 B-horizon soil samples from
hand-excavated pits, with samples taken at depths between 20cm and 60cm. Samples
were securely labeled and packed before shipping to ALS laboratories. ALS'
quality system complies with ISO 9001:2008. Analytical accuracy and precision
are monitored by the analysis of reagent blanks, reference material and
replicate samples.
Iron Range Project Summary
The Iron Range deposits were originally staked in 1897, and were covered by
Crown grants held by Cominco Ltd. and the Canadian Pacific Railway. Eagle Plains
Resources ("Eagle Plains") staked the current claims immediately after the Crown
grants reverted in 2000, and it has been exploring the property since then.
Exploration work to date includes geological mapping, geochemical surveys,
diamond drilling and a 690-line-kilometre airborne geophysical survey.
The Iron Range project is owned 100% by Eagle Plains and holds no underlying
royalties or encumbrances. An additional 35,800 hectares of claims were added to
the original land package, resulting in a total of 56,200 hectares -- an area
approximately 11 km by 50 km. The land package now covers over 30 km of the Iron
Range structure, most of it unexplored. The claims also overlie rocks of the
Aldridge formation, including the same stratigraphic time horizon that hosts the
world-class Sullivan deposit located 70 km to the northeast. Over its 100-year
lifetime, Sullivan produced approximately 150 million tonnes of ore including
three billion ounces of silver, eight million tonnes of zinc and eight million
tonnes of lead, collectively worth over $30-billion at current metal prices. The
parties caution that past results or discoveries on proximate land are not
necessarily indicative of the results that may be achieved on the Iron Range
property.
Providence Option Agreement
The Iron Range project is owned 100% by Eagle Plains and holds no underlying
royalties or encumbrances. Providence holds the option to earn a 60% interest in
the Property by spending $3,000,000 on exploration, making $500,000 in cash
payments and issuing 1,000,000 shares to EPL over 4 years.
On behalf of the Board of Directors
Signed
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
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.
To view this release as a webpage, please click on the following link:
http://www.usetdas.com/pr/eagleplainsprjan312012.htm
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
Jan 19, 2012 News for 'EPL.V/EGPLF' - Eagle Plains/Clemson Execute Option Agreement on Kalum Gold
Property, West-Central British Columbia
Jan 19, 2012 (Filing Services Canada via COMTEX) -- Eagle Plains/Clemson
Execute Option Agreement on Kalum Gold Property, West-Central British Columbia
Cranbrook, B.C.; 19 January, 2011: Eagle Plains Resources (TSX-V:EPL) and
Clemson Resources Corp. (TSX-V:CRZ) announce that the companies have entered
into a formal option agreement whereby Clemson may earn an undivided 60%
interest in Eagle Plains' 100% owned Kalum Property located approximately 35 km
northwest of Terrace, British Columbia in the Skeena Mining Division. Under
terms of the agreement, Clemson will complete exploration expenditures of
$3,000,000, make cash payments of $250,000 and issue 1,100,000 common shares to
EPL over a four year period.
Property Geology
The road accessible, 21,000 ha property is centered upon a large Cretaceous-age
granodioritic stock of the Coast Crystalline Complex that has intruded Jurassic
to Cretaceous-age sedimentary rocks of the Bowser Lake Group. A number of
high-grade, vein-type gold occurrences are associated with the contact zone and
magnetic signature of the intrusive stock. These occurrences have been explored
by various operators and to various degrees over the past 80 years. All previous
exploration efforts have been directed toward the discovery of high-grade
stand-alone mineralization. The current Eagle Plains tenure package represents
the first time that gold occurrences related to the intrusive stock have been
consolidated by a single company.
Property History
The property had last seen exploration work in 2009-2010 by Windstorm Resources
Ltd. who carried out prospecting and soil geochemical work in 2009, followed by
6 drill-holes in 2010 for a total of 412m, testing a high-grade gold occurrence
(973 g/t Au) discovered in late 2009. Drilling failed to intersect significant
continuous mineralized zones. Windstorm terminated their option in late 2010.
From 2007-2008, Mountain Capital completed geologic mapping, a ground
geophysical survey and 1,390m of drilling in 11 holes to target the "Burn"
showing (see EPL/MCI news release December 15, 2008). Highlights of the 2008
program included drill-hole HKM 08-01, which returned 10.55m grading 0.973g/t
gold from 9.95m to 20.50m (including 0.3m which assayed 28.7 g/t gold from 20.20
to 20.50m) and drill-hole HKM 08-03, which returned 2.30m grading 11.949 g/t
gold from 14.0-16.3m. Mountain Capital terminated their option on the property
in May, 2009.
Eagle Plains acquired the property in 2003 and completed significant exploration
programs on the property in 2003 and 2004. The programs included a VTEM airborne
survey, extensive geochemical programs, geologic mapping, and a 19-hole diamond
drill program. The best drill results from this work included drill-hole
KRC04001, drilled at the Rico showing (discovered by Eagle Plains personnel in
late 2003), which returned 35g/t Au over 2.5m from 101.8m to 104.3m; including a
0.5m interval that assayed 107g/t Au (see EPL news release December 9th, 2004).
In addition, historical occurrences on the Property were located, sampled and
surveyed.
All work to date continues to support the interpreted potential for the Kalum
Property to host both high-grade Au - Ag deposits and lower-grade bulk-tonnage
type Au mineralization.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore mineral projects
throughout western Canada. Since 1992, EPL has been acquiring and developing
early stage projects utilizing an in-house team of geologists, technicians and
specialists. Considered a prolific project generator with over 35 properties,
EPL invites joint venture participation to expedite development, reduce risk and
enhance exposure to discovery.
Current third party agreements if maintained to completion expose EPL to over
$55M in exploration expenditures, $6.5M cash and 20M shares in partner
companies. Completed agreements have yielded over $17M in exploration spending,
$1M cash to EPL and a total of 16M shares of partner companies including Alexco
Resource Corp., NovaGold Resources Inc., Giyani Gold Corp., Aben Resources Ltd.
and others.
Expenditures during 2011 on Eagle Plains-related projects were approximately
$9,100,000 which was funded by Eagle Plains and third party partners. This
exploration work resulted in approximately 9400m diamond drilling and extensive
ground-based exploration work facilitating the advancement of more than 15
projects at various stages of development. Planning is currently underway for a
very aggressive 2012 exploration season, with over 10 individual drilling
programs planned, most to be funded by third parties in relation to ongoing
option agreements.
On behalf of the Board of Directors
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
Jan 17, 2012 News for 'EPL.V/EGPLF' - Eagle Plains/Providence Identify Multiple New Drill Targets
Based Upon Historical Soil Data and Provides an Update for 2011 Drilling on the
Iron Range Project
Cranbrook, British Columbia CANADA, Jan 17, 2012 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTC Pink),and
Providence Resources Corp. (TSX-V: PV) are pleased to announce that a systematic
compilation and analysis of historical soil geochemistry data has identified
eight anomalous zones including two high priority, multi-element soil anomalies
that are slated for drill testing in 2012, and six additional anomalous zones,
that have been selected for field evaluation as part of the 2012 exploration
program. For maps and figures related to this news release please visit our
website http://www.eagleplains.com/projects/bc/ironrange/
"Our analysis of the historic soil data confirms our belief that the Iron Range
Property displays an anomalously high background metal endowment and
demonstrates that the entire property is prospective for gold mineralization in
addition to the traditionally explored for Sullivan-style lead-zinc
mineralization." Stated Providence Resources Corp.'s President and CEO Vince
Sorace. "The results from the soil data compilation are highly encouraging; we
are looking forward to comparing these anomalies with those obtained from
electromagnetic and gravity surveys when results are available."
The final 3 drill holes of the 2011 drill program (1,044.2 metres) were
completed in August, 2011. Drill holes IR11-027 to IR11-029 intercepted the
Talon Zone at depth. IR11-27 was drilled oblique to the Talon Zone and returned
3 meters @ 3.29 g/t gold and 4.6 g/t silver, IR11-28 and 29 were drilled
perpendicular to the zone and returned 12.0 meters @ 0.59 g/t gold, 2.5 g/t
silver and 2 meters @ 2.34 g/t gold, 61.2 g/t silver respectively. A map
outlining these drill locations is available at
http://www.eagleplains.com/projects/bc/ironrange/
2012 Exploration Program
The Company intends to execute a full exploration program in 2012 with the
objective of systematically evaluating all existing exploration data, utilizing
newly acquired 2011 geophysical surveys, field evaluating all resulting
anomalies and ultimately drill testing the highest priority targets.
* Systematic compilation and analysis of historical soil geochemistry - this
work and the resulting anomalies are the focus of this news release.
* Geophysical electromagnetic and gravity surveys - it is anticipated that
results from this work will be available in February 2012.
* Winter drilling (Phase I) of high-priority geophysical and geochemical
anomalies. Two targets have been identified during the evaluation of historical
geochemistry and additional targets are anticipated.
* Field work will be completed in summer 2012 with the objective of bringing
remaining targets to the drill testing stage for Phase II drilling in late 2012.
Historic Iron Range Soil Surveys
Soil anomalies were identified as part of ongoing compilation of historical data
on the Iron Range Project. Data compilation work is producing exploration
targets in advance of gravity and electromagnetic survey results that will be
available in February, 2012. All available geological, geochemical and
geophysical data will be used to delineate priority targets which will be tested
during 2012 Phase I and Phase II drilling.
A total of 12,201 soil samples were collected by various operators between 1986
and 2010 within the limits of the Iron Range project. These data have been
systematically compiled by TerraLogic Exploration Services and re-evaluated by
Providence Resources Corp. Soil anomalies were selected where assay values
exceed the mean value of the survey by at least 1 standard deviation and where
an anomaly can be traced across at least two soil lines within a given survey or
an adjoining survey. Priority is assigned to anomalies that are present within
multiple elements in a given survey.
A total of eight geochemical anomalies have been identified. Two anomalies
(Canyon and Row) are considered high priority at this early stage of evaluation
and are already slated for drill testing. The remaining six anomalies will be
further evaluated throughout 2012. A map and description of these anomalies can
be found at http://www.eagleplains.com/projects/bc/ironrange/
2011 Talon Zone Drill Results
Drill intercepts from 2011 diamond drilling for holes IR11-027, IR11-028 and
IR11-029 within the Talon Zone are summarized below. The Talon Zone is a 30
meter-wide, steeply west-dipping, northeast-striking fault zone marked by
moderate to intense silica-sericite (minor albite) alteration zone and hosts
precious and base metal mineralization. The object of the 2011 diamond drill
program was to determine the thickness, strike and depth extent of the gold and
base metal mineralization within the Talon Zone.
IR11-027
IR11-027 shares the same collar as previous drill hole IR11-026. This hole was
designed to test the continuity and intensity of mineralization within the
steeply west-dipping Talon Zone at depth. IR11-027 defines the western limit of
the intense silica-sericite-albite alteration zone intersected in IR11-026 drill
hole (101.4m of 0.5g/t Au), defined by three narrow intervals of significant
gold values. Mineralization occurs in fractures and within a quartz-carbonate
breccia matrix with localized narrow sections of semi-massive sulphide.
Mineralization is dominantly pyrite with minor arsenopyrite +/- sphalerite and
rare galena.
IR11-028
IR11-028 was drilled approximately 70m northeast of IR11-026/027. An isolated
intercept of 1.0m of 2.87g/t Au is coincident with the appearance of breccia
which is consistent with the down-dip extension of the sub-vertical
(west-dipping) Talon zone. Mineralization consists of arsenopyrite with lesser
pyrite, rare sphalerite, and galena within a dolomite-calcite-quartz matrix
supported breccia.
IR11-029
IR11-029 was the final hole drilled in the 2011 Talon zone drill campaign. In
order to obtain a perpendicular cut through the Talon zone, this hole was
drilled at 135 degree azimuth and a -55 degree dip angle. This hole returned
2.0m grading 2.34g/t Au (110-112 meters) defining the central portion of the
Talon zone below the surface oxide zone. Mineralization is characterized by a 10
cm interval of massive pyrite and lesser arsenopyrite within an oxidized,
limonitic breccia.
-------------------------------------------------------------------------
Hole From To Length Gold Lead Zinc Silver Lead Zinc
# (m) (m) (m) (g/t) (%) (%) (g/t) (ppm) (ppm)
-------------------------------------------------------------------------
IR11027 221.8 237.1 15.25 0.29 0.05 0.11 3.16 481.99 1053.34
Incl. 234.8 237.1 2.3 0.89 0.12 0.11 12.93 1229.95 1076.51
-------------------------------------------------------------------------
IR11027 260 274 14 0.86 0.06 0.05 4.63 550.24 479.91
Incl. 271 274 3 3.29 0.21 0.18 18.20 2145.00 1751.00
-------------------------------------------------------------------------
IR11027 344.5 346.9 2.35 1.06 0.09 0.05 7.06 942.64 537.37
-------------------------------------------------------------------------
IR11027 376 385 9 0.14 0.01 0.01 0.49 89.51 84.41
-------------------------------------------------------------------------
IR11028 239 251 12 0.59 0.06 0.14 2.54 632.82 1359.46
incl. 239 240 1 2.87 0.32 0.35 9.70 3215.00 3459.00
-------------------------------------------------------------------------
IR11028 260 278 18 0.24 0.025 0.05 2.17 247.57 467.53
-------------------------------------------------------------------------
IR11028 297 304 7 0.19 0.01 0.01 2.27 132.19 119.13
-------------------------------------------------------------------------
IR11028 383 392 11 0.16 0.01 0.03 0.99 127.58 337.96
-------------------------------------------------------------------------
IR11029 100 116 16 0.38 0.06 0.12 13.73 632.37 1150.46
Incl. 110 112 2 2.34 0.22 0.37 61.20 2175.28 3650.50
-------------------------------------------------------------------------
IR11029 140 150 10 0.51 0.13 0.18 9.40 1309.00 1785.00
Incl. 140 144 4 0.77 0.05 0.13 6.73 505.29 1322.68
-------------------------------------------------------------------------
Table 1. Talon Zone Drill intercepts for drill holes IR11-027 to IR11-029. Note
that there is insufficient drilling to determine the true thickness of the
mineralized zones
Quality Control
Geological exploration contracting services on the Iron Range property during
2011 are being provided by TerraLogic Exploration of Cranbrook, B.C. (a
wholly-owned subsidiary of Eagle Plains). Diamond drilling is being carried out
by F.B. Drilling of Cranbrook, B.C. All fieldwork is under the supervision of
geologist J.K. Ryley while C.C. Downie, P.Geo. is hereby identified as the
overall project supervisor. Technical aspects of this news release have been
reviewed and approved by T.J. Termuende, P.Geo., hereby designated as a
qualified person under National Instrument 43-101.
Iron Range Project Summary
The Iron Range deposits were originally staked in 1897, and were covered by
Crown grants held by Cominco Ltd. and the Canadian Pacific Railway. Eagle Plains
Resources ("Eagle Plains") staked the current claims immediately after the Crown
grants reverted in 2000, and has been exploring the property since then.
Exploration work to date includes geological mapping, geochemical surveys,
diamond drilling and a 690-line-kilometre airborne geophysical survey.
The Iron Range project is owned 100 per cent by Eagle Plains and holds no
underlying royalties or encumbrances. An additional 35,800 hectares of claims
were added to the original land package, resulting in a total of 56,200 hectares
-- an area approximately 11 km by 50 km. The land package now covers over 30 km
of the Iron Range structure, most of it unexplored. The claims also overlie
rocks of the Aldridge formation, including the same stratigraphic time horizon
that hosts the world-class Sullivan deposit located 70 km to the northeast. Over
its 100-year lifetime, Sullivan produced approximately 150 million tonnes of ore
including three billion ounces of silver, eight million tonnes of zinc and eight
million tonnes of lead, collectively worth over $30-billion at current metal
prices. The parties caution that past results or discoveries on proximate land
are not necessarily indicative of the results that may be achieved on the Iron
Range property.
Providence Option Agreement
The Iron Range project is owned 100% by Eagle Plains and holds no underlying
royalties or encumbrances. Providence holds the option to earn a 60% interest in
the Property by spending $3,000,000 on exploration, making $500,000 in cash
payments and issuing 1,000,000 shares to EPL over 4 years.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore mineral projects
throughout western Canada. Since 1992, EPL has been acquiring and developing
early stage projects utilizing an in-house team of geologists, technicians and
specialists. Considered a prolific project generator with over 35 properties,
EPL invites joint venture participation to expedite development, reduce risk and
enhance exposure to discovery.
Current third party agreements if maintained to completion expose EPL to over
$55M in exploration expenditures, $6.5M cash and 20M shares in partner
companies. Completed agreements have yielded over $17M in exploration spending,
$1M cash to EPL and a total of 16M shares of partner companies including Alexco
Resource Corp., NovaGold Resources Inc., Giyani Gold Corp., Aben Resources Ltd.
and others.
Expenditures during 2011 on Eagle Plains-related projects were approximately
$9,100,000 which was funded by Eagle Plains and third party partners. This
exploration work resulted in approximately 9400m diamond drilling and extensive
ground-based exploration work facilitating the advancement of more than 15
projects at various stages of development.
Signed,
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
Wed., Jan 4, 2012 News for 'EPL.V/EGPLF' Eagle Plains Accepts Shares for Debt from Blackrock Resources Ltd.
Cranbrook, British Columbia CANADA, Jan 03, 2012 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTC Pink),
announces it has entered into a debt settlement agreement with Blackrock
Resources Ltd., a private B.C. company, whereby Blackrock will issue 1,048,619
common shares to EPL to settle an outstanding debt of $157,292.89. The debt is
related to unpaid exploration and development expenses incurred by Blackrock on
Eagle Plains Resources wholly owned Elsiar Project.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore mineral projects
throughout western Canada. Since 1992, EPL has been acquiring and developing
early stage projects utilizing an in-house team of geologists, technicians and
specialists. Considered a prolific project generator with over 35 properties,
EPL invites joint venture participation to expedite development, reduce risk and
enhance exposure to discovery.
Current third party agreements if maintained to completion expose EPL to over
$55M in exploration expenditures, $6.5M cash and 20M shares in partner
companies. Completed agreements have yielded over $17M in exploration spending,
$1M cash to EPL and a total of 16M shares of partner companies including Alexco
Resource Corp., NovaGold Resources Inc., Giyani Gold Corp., Aben Resources Ltd.
and others.
Expenditures during 2011 on Eagle Plains-related projects were approximately
$9,100,000 which was funded by Eagle Plains and third party partners. This
exploration work resulted in approximately 9400m diamond drilling and extensive
ground-based exploration work facilitating the advancement of more than 15
projects at various stages of development.
Signed,
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
Dec 22, 2011 News for 'EPL.V/EGPLF' - Aben Resources Ltd.: Shares Issued- Rusty Springs Silver
Project, District of Dawson, Yukon
VANCOUVER, BRITISH COLUMBIA, Dec 22, 2011 (Marketwire via COMTEX) -- Aben
Resources Ltd. (TSX VENTURE:ABN) (FRANKFURT:E2L) (the "Company") announces that
it has issued 250,000 common shares in connection with its Property Option
Agreement dated February 15, 2011 with Eagle Plains Resources Ltd. whereby the
Company has been granted an option to earn a 100% interest, subject to a 3% net
smelter return royalty, in the 1,100 hectare Rusty Springs Sliver Project,
District of Dawson, Yukon Territory (the "Property").
Aben's Yukon Property Claims Map:
http://www.abenresources.com/i/maps/ABN_Property_Location.jpg
The common shares issued are subject to a four month hold period under
applicable securities laws, and imposed by the TSX Venture Exchange, expiring
April 16, 2012.
In order to earn a 100% interest in the Property, the Company must make further
cash payments of $250,000 and issue a total of 1,000,000 common shares over the
remaining four-year term of the Agreement. The Company is also required to pay
the Vendor a yearly minimum advanced royalty of $25,000.
For further information on Aben Resources Ltd. (TSX VENTURE:ABN), visit our
Company's web site at www.abenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
JAMES G. PETTIT, President
This news release may contain certain "Forward-Looking Statements" that may
involve a number of risks and uncertainties. There can be no assurance that such
statements will prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements. For a more detailed
discussion of such risks and other factors, refer to the Company's filings with
Canadian Securities regulators available on www.sedar.com.
SOURCE: Aben Resources Ltd.
CONTACT: Aben Resources Ltd.
James G. Pettit
President
604-687-3376 or Toll Free: 800-567-8181
604-687-3119(FAX)
info@abenresources.com
Aben Resources Ltd.
Jordan Trimble
Corporate Communications
604-687-3376 or Toll Free: 800-567-8181
604-687-3119(FAX)
info@abenresources.com
Dec 21, 2011 News for 'EPL.V/EGPLF' Eagle Plains/Navy Resources Execute Option Agreement on Vulcan
Property, South-eastern British Columbia
CRANBROOK, British Columbia, Dec 22, 2011 (BUSINESS WIRE) -- Eagle Plains
Resources Ltd. (TSX-V:EPL)(Pink Sheets: EGPLF) and Navy Resources Corp. (a
private B.C. company) announce that they have executed a formal option agreement
whereby Navy may earn an undivided 60% interest in Eagle Plains' 100% owned
Vulcan Property located 30km northwest of Kimberley, British Columbia. Under
terms of the agreement, Navy will complete exploration expenditures of
$3,000,000, make cash payments of $250,000 and issue 1,000,000 common shares to
Eagle Plains over a fifty-four month period. The partners recently completed a
353 line-km airborne airborne gravity geophysical survey over the property area
(see EPL news release Dec 19/2011), with plans underway for drilling next
season.
Property Geology and History
The road-accessible property overlies rocks of the Purcell Supergroup, including
Aldridge Formation sediments. The principle exploration target on the property
is a Sullivan-type stratiform sediment-hosted massive sulfide deposit. The
nearby Sullivan Mine produced 144 million tons of ore averaging 6.5% lead, 5.6%
zinc and 2.3 opt silver to 1988, representing 300,000,000 ounces of silver,
8,000,000 tonnes of zinc and 8,000,000 tonnes of lead, collectively worth over
$45 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 Vulcan property.
At Vulcan the styles of mineralization, host rocks and alteration all show
strong similarities to the Sullivan Deposit. The best sulfide mineralization at
Vulcan is exposed in a surface showing. Strata-controlled
pyrrhotite-galena-sphalerite is interpreted to occur at the Sullivan time
horizon in a 7.5 m thick zone which includes 1.5 m averaging 1.6% combined
lead-zinc. Grab samples of this zone assay up to 5.5% lead-zinc and 22 opt
silver.
The Vulcan property has been tested by historic drilling on separate occasions.
The most comprehensive testing occurred in the early 1990's by Ascot Resources.
In 1991 a five-hole 1,003m drill program was completed. In 1992 three holes were
drilled totaling 1535m and explored the Lower-Middle Aldridge contact (LMC) to
depths of 300m, roughly 600-800m down-dip of 1991 intersections. Though 1992
drilling indicated the presence of Sullivan-type stratigraphy and alteration in
all holes, significant base-metal mineralization was not encountered. The
down-dip extension of the 1991 holes on the Vulcan property remain untested and
provide targets for future work.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore mineral projects
throughout western Canada. Since 1992, EPL has been acquiring and developing
early stage projects utilizing an in-house team of geologists, technicians and
specialists. Considered a prolific project generator with over 35 properties,
EPL invites joint venture participation to expedite development, reduce risk and
enhance exposure to discovery.
Current third party agreements if maintained to completion expose EPL to over
$55M in exploration expenditures, $6.5M cash and 20M shares in partner
companies. Completed agreements have yielded over $17M in exploration spending,
$1M cash to EPL and a total of 16M shares of partner companies including Alexco
Resource Corp., NovaGold Resources Inc., Giyani Gold Corp., Aben Resources Ltd.
and others.
Expenditures during 2011 on Eagle Plains-related projects were approximately
$9,100,000 which was funded by Eagle Plains and third party partners. This
exploration work resulted in approximately 9400m diamond drilling and extensive
ground-based exploration work facilitating the advancement of more than 15
projects at various stages of development.
Signed,
"Tim J. Termuende" President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE
(486 8673) Email: mgl@eagleplains.com or visit our website at
http://www.eagleplains.com
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
EPL/EGPLF NEWS: Yellowjacket Resources Spinout Approved
Cranbrook, British Columbia CANADA, Dec 21, 2011 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTC Pink),and
Yellowjacket Resources Ltd. (TSX-V:YJK) are pleased to announce shareholder, TSX
Venture Exchange ("Exchange") and court approval of the spinout of Yellowjacket
Resources. Pursuant to the approval, Eagle Plains shareholders of record
reflected on Dec. 22nd, 2011, as at 12:01 a.m., on the register of shareholders
maintained by Eagle Plains' registrar and transfer agent will receive one
Yellowjacket share in exchange for every three Eagle Plains shares held on said
date.
Yellowjacket Resources will begin trading on the Exchange on or about December
22, 2011. For more information about Yellowjacket Resources, please see the
Management Information Circular of Eagle Plains dated November 15, 2011 and the
Listing Application of Yellowjacket dated December 19, 2011, all as filed on
SEDAR at www.sedar.com.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore mineral projects
throughout western Canada. Since 1992, EPL has been acquiring and developing
early stage projects utilizing an in-house team of geologists, technicians and
specialists. Considered a prolific project generator with over 35 properties,
EPL invites joint venture participation to expedite development, reduce risk and
enhance exposure to discovery.
Current third party agreements if maintained to completion, expose EPL to over
$55M in exploration expenditures, $6.5M cash and 20M shares in partner
companies. Completed agreements have yielded over $17M in exploration spending,
$1M cash to EPL and a total of 16M shares of partner companies including Alexco
Resource Corp., NovaGold Resources Inc., Giyani Gold Corp., Aben Resources Ltd.
and others.
Expenditures during 2011 on Eagle Plains-related projects are expected to be
approximately $8,000,000, to be funded by Eagle Plains and third party partners.
This exploration work is expected to result in approximately 9400m diamond
drilling and extensive ground-based exploration work facilitating the
advancement of more than 15 projects at various stages of development.
About Yellowjacket Resources
Yellowjacket Resources will focus on the development of the Yellowjacket Gold
Project. The Yellowjacket Project is located 9 km east of Atlin, BC and is
accessed by all-season road. Hydro-electric power is located within 5km of
property boundaries. The project received a B.C. Mines Act permit in July, 2009
for an open pit gold mine and onsite 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. Gold
may be recovered using a simple gravity concentrating recovery plant without the
use of chemicals or additives. Yellowjacket owns both mineral (hard-rock) and
placer rights within the Project area. The project is located within the
traditional territory of the Taku River Tlingit First Nation who have entered
into a formal Impact and Benefits Agreement with respect to the project.
Eagle Plains will transfer to Yellowjacket its entire interest in the
Yellowjacket Project, various assets relating to the Yellowjacket Project,
$600,000 in cash and certain investments to provide working capital and
exploration funding. Concurrently, Eagle Plains will hold approximately 15% of
the total common shares of Yellowjacket.
Signed,
"Charles C. Downie"
President and CEO
Yellowjacket Resources Ltd.
For further information, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our websites at http://www.eagleplains.com
or http://www.yellowjacketresources.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.
To view this release as a web page, please click on the following link:
http://www.usetdas.com/pr/eagleplains12212011.htm
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
Maximum News Dissemination by Filing Services Canada Inc. http://www.usetdas.com
Mon. 12/19/2011-News for 'EPL.V/EGPLF' - Eagle Plains/ Partners Complete Major Airborne Geophysical Survey
Cranbrook, British Columbia CANADA, Dec 19, 2011 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTC Pink),and
various individual option partners have recently completed the largest
privately-funded airborne geophysical survey ever carried out in the Kootenay
region of British Columbia. A total of 4,280 line-km was flown over Eagle
Plains' various projects in the region, for an overall expenditure of over
$1,000,000.
Three separate survey types were flown, with the majority of funding provided by
third parties under various option agreements currently in place with Eagle
Plains, including VTEM (electromagnetic), ZTEM (electromagnetic) and an airborne
gravity system. Geotech Airborne Geophysical Surveys and Fugro Consultants were
contracted to carry out the surveys, which were completed during the fall of
2011. Additional geophysical work including processing, analytical and advanced
interpretive analysis will be provided by Condor Consulting of Lakewood,
Colorado.
A summary of the various projects and specific work applied to each is provided
below:
--------------------------------------------------------
Project Partner VTEM ZTEM Gravity
(line (line (line
kms) kms) kms)
--------------------------------------------------------
Iron Range Providence 282 160 1293
--------------------------------------------------------
Findlay MMG 509
--------------------------------------------------------
Boundary MMG 125 109
--------------------------------------------------------
K-9 Bluefire 355
--------------------------------------------------------
Hall Lake Bethpage 469
--------------------------------------------------------
Goatfell 101191710 Saskatchewan 133 242
--------------------------------------------------------
Vulcan Navy Resources 353
--------------------------------------------------------
Car 100% EPL 143 107
--------------------------------------------------------
Total: 1382 285 2613
---------------------------------------------------------
A map showing the location of each property and the layout of the geophysical
surveys is located on the Eagle Plains website at http://www.eagleplains.com
The airborne geophysical survey is ongoing, systematic exploration being carried
out by Eagle Plains and its partners within rocks of the Belt-Purcell Supergroup
for over a decade. The area is host to the world-class Sullivan Deposit, which
over its 100 year lifetime, 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 $45 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 these properties.
Increased activity in the area was precipitated by the discovery in late 2010 of
gold-rich base-metal mineralization on the Iron Range project by partners Eagle
Plains and Providence Resources Corp.
Highlights from drill hole IR10-010 include:
* 196.9-204.0m: 7.1m @ 8.13g/t Au, 5.91% Pb/Zn, 86.6g/t Ag
* 224.0-280.5m: 56.5m @ 1.9g/t Au, 21.5g/t Ag
Also including lowermost 277.5-279.5m: 2.0m @ 12.8g/t Au, 9.24% Pb/Zn, 122.5g/t
Ag; elevated Cd, Sb, Sn, Bi, B, Cu.
Eagle Plains and its partners will continue to assess the geophysical data as it
is interpreted by the independent consultants. Data will be integrated with
other information acquired in the area to guide future exploration activity. The
various option agreements in the Kootenay region, if carried to fruition, expose
Eagle Plains to $20M in exploration expenditures, $1.7M in cash payments to EPL,
and 4M shares in third party companies.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore mineral projects
throughout western Canada. Since 1992, EPL has been acquiring and developing
early stage projects utilizing an in-house team of geologists, technicians and
specialists. Considered a prolific project generator with over 35 properties,
EPL invites joint venture participation to expedite development, reduce risk and
enhance exposure to discovery.
Current third party agreements if maintained to completion, expose EPL to over
$50M in exploration expenditures, $5.7M cash and 13M shares in partner
companies. Completed agreements have yielded over $17M in exploration spending,
$1M cash to EPL and a total of 16M shares of partner companies including Alexco
Resource Corp., NovaGold Resources Inc., Giyani Gold Corp., Aben Resources Ltd.
and others.
Expenditures during 2011 on Eagle Plains-related projects are expected to be
approximately $8,000,000, to be funded by Eagle Plains and third party partners.
This exploration work is expected to result in approximately 9400m diamond
drilling and extensive ground-based exploration work facilitating the
advancement of more than 15 projects at various stages of development.
Signed,
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE
(486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
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.
To view this release as a web page, please click on the following link:
http://www.usetdas.com/pr/eagleplains12192011.htm
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
Thurs. Dec 15, 2011 - News for 'EPL.V/EGPLF' - Eagle Plains Shareholders Meet to Consider Yellowjacket Spinout
Cranbrook, British Columbia CANADA, Dec 15, 2011 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTC
Pink),will hold its Annual and Special Meeting today (December 15th) to
consider, and if approved, proceed with the Plan of Arrangement involving the
spinout of Eagle Plains' Yellowjacket Project, located in north-western British
Columbia, as originally announced September 29th, 2011. The spin-out company
will be called Yellowjacket Resources Ltd. and will be listed on the TSX Venture
Exchange. If approved, the application to the Alberta Supreme Court for the
final order is expected to take place on Dec. 19th, 2011, and the transaction is
expected to close on Dec. 19th, 2011. A summary of the key dates for the
transaction is outlined herein, subject to final approval from the TSX Venture
Exchange:
* December 15th, 2011: shareholder approval scheduled at AGM and Special Meeting
* Dec. 19th, 2011: the last day to acquire Eagle Plains shares on the TSX-V and
receive Yellowjacket shares upon closing of the transaction (considering three
day settlement);
* Dec. 19th, 2011: the transaction closes; court approval is scheduled, and
final materials are filed with TSX-V;
* Eagle Plains shareholders of record on Dec. 22nd, 2011, as at 12:01 a.m., will
be entitled to receive Yellowjacket shares;
* On or about Dec. 22nd, 2011: the trading of Yellowjacket shares is expected to
commence on the TSX-V under the trading symbol YJK.
Pursuant to the transaction, Eagle Plains shareholders of record reflected on
Dec. 22nd, 2011, as at 12:01 a.m., on the register of shareholders maintained by
Eagle Plains' registrar and transfer agent will receive one Yellowjacket share
in exchange for every three Eagle Plains shares held on said date.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore mineral projects
throughout western Canada. Since 1992, EPL has been acquiring and developing
early stage projects utilizing an in-house team of geologists, technicians and
specialists. Considered a prolific project generator with over 35 properties,
EPL invites joint venture participation to expedite development, reduce risk and
enhance exposure to discovery.
Current third party agreements if maintained to completion, expose EPL to over
$50M in exploration expenditures, $5.7M cash and 13M shares in partner
companies. Completed agreements have yielded over $17M in exploration spending,
$1M cash to EPL and a total of 16M shares of partner companies including Alexco
Resource Corp., NovaGold Resources Inc., Giyani Gold Corp., Aben Resources Ltd.
and others.
Expenditures during 2011 on Eagle Plains-related projects are expected to be
approximately $8,000,000, to be funded by Eagle Plains and third party partners.
This exploration work is expected to result in approximately 9400m diamond
drilling and extensive ground-based exploration work facilitating the
advancement of more than 15 projects at various stages of development.
Signed,
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE
(486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
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.
To view this release as a webpage, please click the following link:
http://www.usetdas.com/pr/eagleplains12152011.htm
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
Maximum News Dissemination by Filing Services Canada Inc. http://www.usetdas.com
EaglePlains is spinning off Their Yellow
Jacket gold claim as a separate
company to produce a gold mining
company headed by their own people.
I am voting for it.
Voting Day:
December 15th Thursday, 2011.
We get one share of the Yellow Jacket
gold company for every 3-shares of
EaglePlaines.
Tuesday, November 22, 2011 News for EPL.V/'EGPLF' - Eagle Plains/Olympic Announce Drill Results from Dragon Lake Gold Project, Yukon
Cranbrook, British Columbia CANADA, Nov 22, 2011 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTC Pink),and
Olympic Resources Ltd. (TSX-V:OLA) announce that drill results have been
compiled and interpreted from a drill program conducted during the summer on the
2,300 acre Dragon Lake project (the "Property") located 85km northeast of Ross
River, Yukon. A total of 660m was completed in 6 holes which tested three
separate zones of mineralization on the property. Total cost of the program was
$450,000.
2011 Program Highlights
* Precious metal mineralization was reported in all 6 drill holes of the
program.
* Results of up to 5.70 g/t gold over .25m (DR11001) and 1.57 g/t gold over 3.0m
(DR11004) were reported in drill holes.
* Numerous exploration targets remain untested on the property, with additional
work planned for next year.
Property Geology and Mineralization
Mineralization on the property is associated with an elongate Tombstone Suite
intrusive which has intruded sedimentary rocks of the Hyland Group. Contact
metamorphism related to intrusion of the pluton has resulted in a distinct
alteration halo which hosts known mineralization. Work carried out by Eagle
Plains in 2010 on the Main Zone included continuous chip trench sampling which
returned 4.9 g/t gold over 6.0m, including 6.7 g/t over 4.0m (T-11) and 6.0m
grading 2.8 g/t (T-02). A grab sample of material from a 1.2m wide quartz vein
returned 19.8 g/t gold. Exploration pits dug in 2010 by Eagle Plains in areas of
anomalous soil samples from past programs returned 2.85 g/t gold and 2.25 g/t
gold, respectively.
2011 Program Results
Significant results from the program are summarized in the table below:
--------------------------------------------------------
Hole From(m) To(m) Interval Length Au g/t Ag ppm
Number (m)
--------------------------------------------------------
DR11001 22.45 27.27 4.82 0.68 0.3
including 26.2 27.27 1.07 1.55 0.5
also 26.2 26.45 0.25 5.70 1.4
including
also 27.15 27.27 0.12 1.52 0.3
including
--------------------------------------------------------
DR11003 13 17 4.00 0.46 1.1
including 13 15 2.00 0.65 0.3
--------------------------------------------------------
DR11004 60 71.54 11.54 0.56 0.7
including 65 68 3.00 1.57 1.2
--------------------------------------------------------
DR11004 79 80 1.00 1.26 1.2
--------------------------------------------------------
DR11004 93.85 94.9 1.05 0.96 2.1
--------------------------------------------------------
DR11005 21.55 22 0.45 2.18 0.5
--------------------------------------------------------
DR11005 47.91 49.13 1.22 1.75 1.2
including 47.91 48.5 0.59 3.24 1.6
--------------------------------------------------------
DR11005 78 79 1.00 1.59 0.2
--------------------------------------------------------
DR11005 91.13 91.34 0.21 1.73 1.0
--------------------------------------------------------
DR11006 21.7 22.36 0.66 0.19 90.2
--------------------------------------------------------
Diamond Drilling was performed by Apex Drilling of Smithers, BC.. Geological
services were provided by TerraLogic Exploration of Cranbrook, British Columbia,
an independently operated, wholly-owned subsidiary of Eagle Plains Resources
Ltd. Overall project supervision was provided by C.C. Downie, P.Geo., hereby
identified as a "Qualified Person" under N.I. 43-101.
Property History
The property was first staked in 1966 by Kennco Exploration, which completed
geological and geophysical survey work. Canamax and Welcome North carried out
additional surface work in 1983 and 1988, respectively. Eagle Plains staked the
property in 1996 and have completed 7 separate exploration programs in the
ensuing years. In 2010, Eagle Plains completed rock and soil geochemical
sampling and an airborne geophysical survey.
Olympic has the exclusive right to earn a 60% interest in the Property by
completing $3,000,000 in exploration expenditures, issuing 1,000,000 common
shares and making cash payments of $500,000 to Eagle Plains over 4 years.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore mineral projects
throughout western Canada. Since 1992, EPL has been acquiring and developing
early stage projects utilizing an in-house team of geologists, technicians and
specialists. Considered a prolific project generator with over 35 properties,
EPL invites joint venture participation to expedite development, reduce risk and
enhance exposure to discovery.
Current third party agreements if maintained to completion, expose EPL to over
$50M in exploration expenditures, $5.7M cash and 13M shares in partner
companies. Completed agreements have yielded over $17M in exploration spending,
$1M cash to EPL and a total of 16M shares of partner companies including Alexco
Resource Corp., NovaGold Resources Inc., Giyani Gold Corp., Aben Resources Ltd.
and others.
Expenditures during 2011 on Eagle Plains-related projects are expected to be
approximately $8,000,000, to be funded by Eagle Plains and third party partners.
This exploration work is expected to result in approximately 9400m diamond
drilling and extensive ground-based exploration work facilitating the
advancement of more than 15 projects at various stages of development.
Signed,
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE
(486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
Nov. 1, 2011 - NEWS Gold Royalties Corporation Acquires Blende Royalty
CALGARY, ALBERTA, Nov 1, 2011 (Marketwire via COMTEX) -- Gold Royalties
Corporation (the "Company") is pleased to announce that it has acquired a 2% NSR
royalty on the Blende Silver-Zinc-Lead project located in Yukon, Canada. The
royalty was purchased from Eagle Plains Resources Ltd., effective October 31,
2011, for cash consideration.
"We believe that Blende's future benefits from both the increase in regional
mining activity and the recent step-change in silver prices. As a potentially
large silver and base metals project in a secure jurisdiction, we are excited to
participate in Blende as a royalty holder with the carried benefit of future
work by the operator," commented Ryan Kalt, Chief Executive Officer of the
Company.
Blende is a carbonate-hosted deposit located approximately 65 km NE of Keno in
central Yukon Territory.
About Gold Royalties Corporation
Based in Calgary, Alberta, Gold Royalties Corporation is a privately-held
royalty company that acquires and manages metals royalties with focus on net
smelter returns and metal streams. For more information, please visit
www.GoldRoyalties.ca.
SOURCE: Gold Royalties Corporation
CONTACT: Gold Royalties Corporation
Media Relations
403-410-3815
info@goldroyalties.ca
Nov 1, 2011 - Eagle Plains and Gold Royalties Corporation Execute Agreement on Blende NSR
Cranbrook, British Columbia CANADA, Nov 01, 2011 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTC Pink)
The Board of Directors of Eagle Plains Resources Ltd. (the "Company" or "Eagle
Plains") announces that it has executed an agreement with Gold Royalties
Corporation, whereby Gold Royalties Corporation has purchased the 2% Net Smelter
Royalty ("NSR") currently held by Eagle Plains relating to any future production
at the Blende Property, located in central Yukon approximately 65km NE of Keno.
The total consideration for this purchase is CDN$1,000,000.
Blind Creek Resources acquired an option on the property in August, 2005. In
2009, Blind Creek completed earn-in requirements to exercise the option and
acquired a 60% interest in the property by completing a total of $5,000,000 in
exploration expenditures, paying $175,000 in cash and issuing 1,000,000 common
shares to Eagle Plains and an underlying interest holder. Later in 2009, Blind
Creek purchased the remaining 40% interest from Eagle Plains by issuing an
additional 4,500,000 voting-class common shares.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore mineral projects
throughout western Canada. Since 1992, EPL has been acquiring and developing
early stage projects utilizing an in-house team of geologists, technicians and
specialists. Considered a prolific project generator with over 35 properties,
EPL invites joint venture participation to expedite development, reduce risk and
enhance exposure to discovery.
Current third party agreements, if maintained to completion, expose EPL to over
$50M in exploration expenditures, $5.7M cash and 13M shares in partner
companies. Completed agreements have yielded over $17M in exploration spending,
$1M cash to EPL and a total of 16M shares of partner companies including Alexco
Resource Corp., NovaGold Resources Inc., Giyani Gold Corp., Aben Resources Ltd.
and others.
Expenditures during 2011 on Eagle Plains-related projects are expected to be
approximately $8,000,000, to be funded by Eagle Plains and third party partners.
This exploration work is expected to result in approximately 9400m diamond
drilling and extensive ground-based exploration work facilitating the
advancement of more than 15 projects at various stages of development.
Signed,
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE
(486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
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.
To view this release as a web page, please click on the following link:
http://www.usetdas.com/pr/eagle11012011.htm
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
Maximum News Dissemination by Filing Services Canada Inc. http://www.usetdas.com
Thurs. Sept 29, 2011 - News for 'EPL.V/EGPLF' - Eagle Plains Announces Proposed Spin-Out of Yellowjacket Gold
Project
Sep 29, 2011 (Filing Services Canada via COMTEX) -- Eagle Plains Announces
Proposed Spin-Out of Yellowjacket Gold Project
Cranbrook B.C., 29 September, 2011: The Board of Directors of Eagle Plains
Resources Ltd. (TSX-V:EPL)(the "Company" or "Eagle Plains") is pleased to
announce its plan (subject to court, shareholder and regulatory approval) to
transfer the Company's Yellowjacket Gold Project under a Plan of Arrangement
(the "Arrangement") in an effort to maximize shareholder value. The project as
described below will be transferred into a new company, incorporated under the
name Yellowjacket Resources Ltd. ("Yellowjacket"). Under the proposed
Arrangement, there will be approximately 33,000,000 common shares of
Yellowjacket outstanding.
Under the terms of the proposed Arrangement, Eagle Plains shareholders of record
on the effective date of the Arrangement will receive one share of Yellowjacket
for every three Eagle Plains shares held. Eagle Plains will hold approximately
15% of the total common shares of Yellowjacket, resulting in the transfer from
Eagle Plains to Yellowjacket of no less than $100,000 cash. Concurrently, Eagle
Plains will transfer to Yellowjacket its entire interest in the Yellowjacket
Project, an additional $500,000 cash and certain investments to provide working
capital and exploration funding. Yellowjacket will apply to have its shares
listed on the TSX Venture Exchange.
The reorganization is designed to improve the separate identification and
valuation of the Yellowjacket Project and specific Eagle Plains properties, to
enhance Eagle Plains' ability to divest specific properties through simpler
corporate ownership, and to enable Eagle Plains to separately finance and
develop its various assets, selectively reducing stock dilution. The process is
very similar to that which resulted in the creation of Copper Canyon Resources
Ltd., which was spun-out from Eagle Plains in 2006 and taken over by NovaGold
Canada Inc. in May, 2011 at a value of approximately $65,000,000.
The rationale for the formation of Yellowjacket is to advance the exploration
and development of the Yellowjacket project. The formation of Yellowjacket will
also allow Eagle Plains to continue to focus on its core business model of
acquiring and advancing grass-roots base and precious metal exploration
properties.
The proposed reorganization will be subject to shareholder approval by
resolution approved by not less than 66 2/3 % of votes cast. The Company expects
to present the matter to shareholders at a special meeting targeted for
mid-November, 2011. The Company anticipates that the reorganization and listing
of Yellowjacket will be completed shortly thereafter. The reorganization is also
subject to approval of the Court of Queen's Bench of Alberta and to acceptance
by the TSX Venture Exchange. Further particulars will be announced in due
course.
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 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. Gold may be
recovered using a simple gravity concentrating recovery plant without the use of
chemicals or additives. Eagle Plains owns both mineral (hard-rock) and placer
rights within the Project area. In October 2009, Eagle Plains and Prize
announced the formal ratification of an Impact and Benefits Agreement with the
Taku River Tlingit First Nation.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore mineral projects
throughout western Canada. Since 1992, EPL has been acquiring and developing
early stage projects utilizing an in-house team of geologists, technicians and
specialists. Considered a prolific project generator with over 35 properties,
EPL invites joint venture participation to expedite development, reduce risk and
enhance exposure to discovery.
Current third party agreements if maintained to completion, expose EPL to over
$50M in exploration expenditures, $5.7M cash and 13M shares in partner
companies. Completed agreements have yielded over $17M in exploration spending,
$1M cash to EPL and a total of 16M shares of partner companies including Alexco
Resource Corp., NovaGold Resources Inc., Giyani Gold Corp., Aben Resources Ltd.
and others.
Expenditures during 2011 on Eagle Plains-related projects are expected to be
approximately $8,000,000, to be funded by Eagle Plains and third party partners.
This exploration work is expected to result in approximately 9400m diamond
drilling and extensive ground-based exploration work facilitating the
advancement of more than 15 projects at various stages of development.
Signed,
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE
(486 8673)
Tuesday, Sept. 27, 2011 - News for 'EPL.V/EGPLF' - 49 North Resources Inc. Announces Option Agreement with Eagle
Plains Resources Ltd.
SASKATOON, SK, Sep. 27, 2011, 2011 (Canada NewsWire via COMTEX) -- TSX Venture
Exchange symbol FNR
49 North Resources Inc. ("49 North") (TSX-V:FNR) is pleased to announce it has
entered into an option agreement (the "Option Agreement") with Eagle Plains
Resources Ltd. ("Eagle Plains") (TSX-V:EPL). The Option Agreement was entered
using a subsidiary company of 49 North, 101191710 Saskatchewan Ltd.
("101191710"), and provides 101191710 the option to acquire a 60% interest in
the Goatfell Property located 30km east of Creston, British Columbia. Please
refer to the Eagle Plains press release of September 26, 2011 for further
information about the Goatfell Property.
Under terms of the Option Agreement, 101191710 will complete exploration
expenditures of $3,000,000, make cash payments of $250,000 and issue 1,000,000
common shares to Eagle Plains over a four year period. The Goatfell Property has
no underlying royalties or encumbrances.
49 North is a Saskatchewan focused resource investment company with strategic
operations in financial, managerial and geological advisory services and
merchant banking. Our diversified portfolio of assets includes direct project
involvement in the resource sector, as well as investments in shares and other
securities of junior and intermediate mineral and oil and gas exploration
companies. Additional information about 49 North is available at www.sedar.com.
Forward Looking Information: This release contains forward-looking information
within the meaning of applicable Canadian securities legislation. In particular
but without limitation, this press release includes references to 49 North
acquiring a property interest in the Goatfell Property through 101191710. There
is no certainty that any interest will be earned. Forward-looking information
involves known and unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those expressed or implied by
such forward-looking information. In addition, the forward-looking information
contained in this release is based upon what management believes to be
reasonable assumptions. Readers are cautioned not to place undue reliance on
forward-looking information as it is inherently uncertain and no assurance can
be given that the expectations reflected in such information will prove to be
correct. The forward-looking information in this release is made as of the date
hereof and, except as required under applicable securities legislation, 49 North
assumes no obligation to update or revise such information to reflect new events
or circumstances.
Neither 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.
To view this news release in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/September2011/27/c7128.html
SOURCE: 49 North Resources Inc.
CONTACT: 49 North Resources Inc. Tom MacNeill President and Chief Executive
Officer
306-653-2692 orir@fnr.ca.
Monday, Sept. 26, 2011 - News for 'EPL.V/EGPLF' - Eagle Plains/49 North Subsidiary Execute Option Agreement for Goatfell Property, South-eastern British Columbia
Cranbrook, British Columbia CANADA, Sep 26, 2011 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTC
Pink),reports that it has entered into an agreement with 101191710 Saskatchewan
Ltd., a subsidiary of 49 North Resources Inc. (FNR:TSXV), whereby 101191710
Saskatchewan Ltd. may earn an undivided 60% interest in Eagle Plains' Goatfell
Property located 30km east of Creston, British Columbia. Under terms of the
agreement, 101191710 will complete exploration expenditures of $3,000,000 make
cash payments of $250,000 and issue 1,000,000 common shares to EPL over a four
year period. The property 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 or near property boundaries.
A $100,000 airborne geophysical survey consisting of 113 line-km of VTEM and 218
line-km of airborne gravity is expected to commence within one week.
Property Geology and Mineralization
The Goatfell claims overlie rocks of the Aldridge Formation, within the Middle
Proterozoic Purcell Supergroup, a thick succession of siliciclastic and lesser
carbonate rocks. The Goatfell occurrence includes an extensive area of
tourmalinite float, 2.5 kilometres to the south of the Goatfell tourmalinite
body. The float contains galena and sphalerite in an intensely brecciated
tourmalinized matrix. The tourmalinite zone is cut by a major fault which has
associated silicification and muscovite alteration. The tourmalinite alteration
and minerals noted on the property are considered by Eagle Plains geologists to
be indicative of hydrothermal venting activity which may be potentially
associated with a sedimentary-exhalative ("Sedex") mineralizing system nearby.
Property History
A total of twelve diamond drill holes were completed by White Knight Resources
and Ramrod Exploration on the property between 1989 and 1996, in addition to a
localised ground-based EM geophysical survey in 1995. Some of the drillholes
intersected tourmalinite and fracture-controlled lead and zinc. Following the
1996 drilling program, geologists on the project recommended additional
drilling, though this work was never carried out.
The airborne geophysical work is part of a major (4,000 line-km) airborne
geophysical survey being carried out in the region by Eagle Plains and various
partners as announced on September 9th, 2011. The airborne geophysical survey is
part of an ongoing, systematic exploration approach being carried out by Eagle
Plains and its partners within rocks of the Belt-Purcell Supergroup for over a
decade. The Belt-Purcell Supergroup is host to the world-class Sullivan Deposit,
which over its 100 year lifetime, 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 $45 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
Goatfell property.
Increased activity in the area was precipitated by the discovery in late 2010 of
gold-rich base-metal mineralization on the Iron Range project by partners Eagle
Plains and Providence Resources Corp.
Highlights from drill hole IR10-010 include:
* 196.9-204.0m: 7.1m @ 8.13g/t Au, 5.91% Pb/Zn, 86.6g/t Ag
* 224.0-280.5m: 56.5m @ 1.9g/t Au, 21.5g/t Ag
* Also including lowermost 277.5-279.5m: 2.0m @ 12.8g/t Au, 9.24% Pb/Zn,
122.5g/t Ag; elevated Cd, Sb, Sn, Bi, B, Cu.
The geophysical survey is expected to be completed by late fall, subject to
weather conditions and contractor availability.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore mineral projects
throughout western Canada. Since 1992, EPL has been acquiring and developing
early stage projects utilizing an in-house team of geologists, technicians and
specialists. Considered a prolific project generator with over 35 properties,
EPL invites joint venture participation to expedite development, reduce risk and
enhance exposure to discovery.
Current third party agreements if carried to fruition, expose EPL to over $50M
in exploration expenditures, $5.7M cash and 13M shares in partner companies.
Completed agreements have yielded over $17M in exploration spending, $1M cash to
EPL and a total of 16M shares of partner companies including Alexco Resource
Corp., NovaGold Resources Inc., Giyani Gold Corp., Aben Resources Ltd. and
others.
Expenditures during 2011 on Eagle Plains-related projects are expected to be
approximately $8,000,000, to be funded by Eagle Plains and third party partners.
This exploration work is expected to result in approximately 9400m diamond
drilling and extensive ground-based exploration work facilitating the
advancement of more than 15 projects at various stages of development.
Signed,
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE
(486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
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.
To view this release as a web page, please click on the following link:
http://www.usetdas.com/pr/eagle09262011.htm
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
Sept. 16, 2011 News for 'EPL.V/EGPLF' - Eagle Plains/Bethpage Capital Corp Execute Option Agreement for
Hall Lake Property, South-eastern British Columbia
Cranbrook, British Columbia CANADA, Sep 16, 2011 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTC
Pink),announces that it has entered into a formal option agreement with Bethpage
Capital Corp,. (a private B.C. company), whereby Bethpage may earn an undivided
60% interest in Eagle Plains' 100% owned Hall Lake Property located 30km west of
Kimberley, British Columbia. Under terms of the agreement, Bethpage will
complete exploration expenditures of $3,000,000, make cash payments of $260,000
and issue 1,000,000 common shares to EPL over a fifty-four month period.
A $100,000 airborne geophysical survey consisting of 484 line-km of VTEM is
expected to commence immediately.
Property Geology
The road-accessible property is approximately 30 sq-km in size and overlies
rocks of the Purcell Supergroup, including the Creston and Aldridge Formation
sediments. A large Cretaceous-aged granitic intrusive is located along a major
structural corridor, with associated intrusive dykes and sills found to have
associations with both gold and silver mineralization. Prospecting by Eagle
Plains reported grab samples of dyke material ranging from trace values up to
2.45 g/t gold and silver values of up to 42 g/t.
The property is host to a major regional-scale north-south trending structure
which is interpreted to be associated with the Iron Range structure. Increased
activity in the area was precipitated by the discovery in late 2010 of gold-rich
base-metal mineralization possibly associated with the structure within the
boundaries of the Iron Range property, which is currently being explored by
partners Eagle Plains and Providence Resources Corp.
Highlights from drill hole IR10-010 on the Iron Range property include:
* 196.9-204.0m: 7.1m @ 8.13g/t Au, 5.91% Pb/Zn, 86.6g/t Ag
* 224.0-280.5m: 56.5m @ 1.9g/t Au, 21.5g/t Ag
* Also including lowermost 277.5-279.5m: 2.0m @ 12.8g/t Au, 9.24% Pb/Zn,
122.5g/t Ag; elevated Cd, Sb, Sn, Bi, B, Cu.
The airborne geophysical work in the East Kootenay region is part of a major
(4,000 line-km) airborne geophysical survey being carried out in the region by
Eagle Plains and various partners as announced on September 9th, 2011. The
airborne geophysical survey is part of an ongoing, systematic exploration
approach being carried out by Eagle Plains and its partners within rocks of the
Belt-Purcell Supergroup for over a decade. The Belt-Purcell Supergroup is host
to the world-class Sullivan Deposit, which over its 100 year lifetime, 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
$45 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 Hall Lake property.
The geophysical survey is expected to be completed by late September, subject to
weather conditions and contractor availability.
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,
many with third parties including MMG (owned by Minmetals Resources Ltd
HKSE:1208), Aben Resources Ltd. (TSX-V:ABN), Providence Capital Corp.
(TSX-V:PV), Waterloo Resources Ltd. (TSX-V:WAT.P), Bethpage Capital Corp. (a
private B.C. company); Blackrock Resources Ltd. (a private B.C. company);
Turnberry Resources Ltd. (TSX-V:TUR.P); Heemskirk Canada Ltd., Drexel Resources
Ltd. (TSX-V), Rosedale Resources Ltd (a private B.C. company), Slater Mining
Corp (TSX-V:SLM), Olympic Resources Ltd. (TSX-V: OLA.P), Touchdown Capital Inc.
(TSX-V: TDW), Bluefire Mining Corp. (a private BC company), Active Growth
Capital (TSX-V:ACK) and Giyani Gold 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 2011 are expected to be approximately $8,000,000 to be
funded by Eagle Plains and third party partners. This exploration work will
result in approximately 9400m diamond drilling and extensive ground-based
exploration work facilitating the advancement of more than 15 projects at
various stages of development.
This news release has been reviewed and approved by T.J. Termuende, P.Geo.,
hereby designated as a qualified person under National Instrument 43-101.
Signed,
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE
(486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
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.
To view this release as a web page, please click on the following link:
http://www.usetdas.com/pr/eagle09162011.htm
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
Sept. 14, 2011 News for 'EPL.V/EGPLF' - Providence Resources/Eagle Plains Conduct Geophysical and
Geochemical Surveys on Iron Range Project
Vancouver, British Columbia CANADA, Sep 14, 2011 (Filing Services Canada via
COMTEX) -- Providence Resources Corp. (PV - TSX Venture)and Eagle Plains
Resources Ltd. (EPL - TSX Venture, EGPLF - OTC Pink) have now completed the
majority of the planned fieldwork program for the Iron Range project in
southeastern British Columbia. This ground based work is to be followed in
September and October by airborne geophysics.
Field work completed to date consists of the following:
* Induced polarization geophysics ground and borehole surveys at the Talon Zone
* 28.0 line km of contour soil sampling along the west flank of the Iron Range
Structure
* Contour and grid soil sampling south and southeast of the Talon zone
* 2.0km X 800m Talon zone soil grid
* 2.5km X 800m soil grid immediately north of the Talon zone grid, labeled the
Six-Mile grid
* 1:10,000 scale geological mapping and associated sampling
IP Survey
The Talon Zone induced polarization ground survey shows two areas of high
chargeability. The westerly area coincides with the significant mineralization
encountered in drilling at the Talon zone. The second area is approximately 300m
to the southeast of the Talon zone and is expressed as a near surface anomaly
measuring approximately 200m in width. This anomaly may continue to the south
beyond the southern limit of the geophysical survey. The borehole geophysics is
slated for additional interpretation with respect to the ground survey.
Soil Geochemistry
A 28.0 line km contour soil sampling program was completed along the west flank
of the Iron Range Structure. These lines are parallel to the regional scale
north trending Iron Mountain Fault to exploit base and precious metal
mineralization from northeast oriented splay faults.
The Talon zone soil grid is oriented north-south, positioned to cover the
southern IP chargeability anomaly and north along the inferred extension of the
Talon zone fault.
A 2.5km X 800m soil grid immediately north of the Talon zone grid (labeled the
Six-Mile grid) begins at the northern end of the Talon zone grid in a northeast
orientation. This grid covers prominent northeast topographic linears and
coincident trending newly discovered alteration zones (see Geological Mapping).
Geochemical results from the soil surveys are expected by mid to late October.
Geological Mapping
Surface mapping has identified the following features of interest:
* A westerly shift of the Iron Range Structure, in proximity to sericite-albite
alteration and possible extension of IP chargeability anomaly.
* Discovery of pervasive sericite-albite-quartz alteration zone approximately
30m in width, 1.65km N-NE of the Talon Zone. The trend of the zone shares that
of the Talon Zone. Similar alteration located 700m to the south along the strike
extension of the new zone. The Six-Mile grid was positioned over these two
zones. Hematite-albite-sericite breccia 2.0km NE of the Iron Mountain Structure,
and approximately 6.0km from the Talon Zone.
* Finely disseminated and acicular stratiform tourmaline within the Lower-Middle
Aldridge contact (LMC) 150m and 600m west of the Talon Zone. The latter
underlies a grouping of upper anomalous lead, zinc, and arsenic soil anomalies.
Airborne Surveys
A combination of VTEM, ZTEM and airborne gravity surveys will be employed over
specific targets areas and is based on specific host rocks and structural
settings. The ZTEM is scheduled to start September 13th with the VTEM survey to
immediately follow. A property scale gravity survey is expected to be completed
by the end of October, subject to weather conditions and contractor
availability. The surveys are being flown in conjunction with Eagle Plains
Resources Ltd. surveys, of which Providence Resources Ltd. survey area totals
1576 line kilometres
Geological exploration contracting services on the Iron Range property during
2011 are being provided by TerraLogic Exploration of Cranbrook, B.C. (a wholly
owned subsidiary of Eagle Plains). All fieldwork is under the supervision of
geologist J.K. Ryley while C.C. Downie, PGeo, is hereby identified as both the
overall project supervisor and as a qualified person under National Instrument
43-101.
Iron Range Project Summary
The Iron Range deposits were originally staked in 1897, and were covered by
Crown grants held by Cominco Ltd. and the Canadian Pacific Railway. Eagle Plains
staked the current claims immediately after the Crown grants reverted in 2000,
and has been exploring the property since then. Exploration work to date
includes geological mapping, geochemical surveys, diamond drilling and a
690-line-kilometre airborne geophysical survey. The Iron Range project is owned
100 per cent by Eagle Plains and holds no underlying royalties or encumbrances.
An additional 35,800 hectares of claims were added to the existing land package,
resulting in a total of 56,200 hectares -- an area approximately 11 km by 50 km.
The land package now covers over 30 km of the Iron Range structure, most of it
unexplored. The claims also overlie rocks of the Aldridge formation, including
the same stratigraphic time horizon which hosts the world-class Sullivan deposit
located 70 km to the northeast. Over its 100-year lifetime, Sullivan produced
approximately 150 million tonnes of ore including three billion ounces of
silver, eight million tonnes of zinc and eight million tonnes of lead,
collectively worth over $30-billion at current metal prices. The parties caution
that past results or discoveries on proximate land are not necessarily
indicative of the results that may be achieved on the Iron Range property.
Providence Option Agreement
The Iron Range project is owned 100% by Eagle Plains and holds no underlying
royalties or encumbrances. Providence holds the option to earn a 60% interest in
the Property by spending $3,000,000 on exploration, making $500,000 in cash
payments and issuing 1,000,000 shares to EPL over 4 years.
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,
many with third parties including MMG (owned by Minmetals Resources Ltd
HKSE:1208), Aben Resources Ltd. (TSX-V:ABN), Providence Capital Corp.
(TSX-V:PV), Waterloo Resources Ltd. (TSX-V:WAT.P), Blackrock Resources Ltd. (a
private B.C. company); Turnberry Resources Ltd. (TSX-V:TUR.P); Heemskirk Canada
Ltd., Drexel Resources Ltd. (TSX-V), Rosedale Resources Ltd (a private B.C.
company), Slater Mining Corp (TSX-V:SLM), Olympic Resources Ltd. (TSX-V: OLA.P),
Touchdown Capital Inc. (TSX-V: TDW), Bluefire Mining Corp. (a private BC
company), Active Growth Capital (TSX-V:ACK) and Giyani Gold 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 2011 are expected to be approximately $8,000,000 to be
funded by Eagle Plains and third party partners. This exploration work will
result in approximately 9400m diamond drilling and extensive ground-based
exploration work facilitating the advancement of more than 15 projects at
various stages of development.
Signed,
"Tim J. Termuende"
President and CEO
For further information on Eagle Plains Resources
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.
To view this release as a web page, please click on the following link:
http://www.usetdas.com/pr/eagle09142011.htm
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
Sept. 9, 2011 News for 'EPL.V/EGPLF' - Eagle Plains and Partners Commence Major Airborne Geophysical
Survey in East Kootenay Region
Cranbrook, British Columbia CANADA, Sep 09, 2011 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTC Pink), is
pleased to announce that it has commenced a 4,000 line-km airborne geophysical
survey over a broad area of the East Kootenays, in south-eastern British
Columbia. Funding for the project is provided by Eagle Plains and various option
partners active on Eagle Plain's tenures in the district. Planned for airborne
geophysical coverage are the Iron Range, Hall Lake, Car, K-9, Goatfell, Findlay
and Boundary (Dode) properties. A budget of $900,000 has been set for the work.
A combination of VTEM, ZTEM and airborne gravity surveys will be employed over
specific targets areas and based on specific host rocks and structural settings.
A map outlining the survey areas may be found at www.eagleplains.com
The airborne geophysical survey is part of an ongoing, systematic exploration
approach being carried out by Eagle Plains and its partners within rocks of the
Belt-Purcell Supergroup for over a decade. The Belt-Purcell Supergroup is host
to the world-class Sullivan Deposit, which over its 100 year lifetime, 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
$45 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 these properties.
Increased activity in the area was precipitated by the discovery in late 2010 of
gold-rich base-metal mineralization on the Iron Range project by partners Eagle
Plains and Providence Resources Corp.
Highlights from drill hole IR10-010 include:
* 196.9-204.0m: 7.1m @ 8.13g/t Au, 5.91% Pb/Zn, 86.6g/t Ag
* 224.0-280.5m: 56.5m @ 1.9g/t Au, 21.5g/t Ag
* Also including lowermost 277.5-279.5m: 2.0m @ 12.8g/t Au, 9.24% Pb/Zn,
122.5g/t Ag; elevated Cd, Sb, Sn, Bi, B, Cu.
The geophysical survey is expected to be completed by late fall, subject to
weather conditions and contractor availability.
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,
many with third parties including MMG (owned by Minmetals Resources Ltd
HKSE:1208), Aben Resources Ltd. (TSX-V:ABN), Providence Capital Corp.
(TSX-V:PV), Waterloo Resources Ltd. (TSX-V:WAT.P), Blackrock Resources Ltd. (a
private B.C. company); Turnberry Resources Ltd. (TSX-V:TUR.P); Heemskirk Canada
Ltd., Drexel Resources Ltd. (TSX-V), Rosedale Resources Ltd (a private B.C.
company), Slater Mining Corp (TSX-V:SLM), Olympic Resources Ltd. (TSX-V: OLA.P),
Touchdown Capital Inc. (TSX-V: TDW), Bluefire Mining Corp. (a private BC
company), Active Growth Capital (TSX-V:ACK) and Giyani Gold 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 2011 are expected to be approximately $8,000,000 to be
funded by Eagle Plains and third party partners. This exploration work will
result in approximately 9400m diamond drilling and extensive ground-based
exploration work facilitating the advancement of more than 15 projects at
various stages of development.
Signed,
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE
(486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
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.
To view this press release as a web page, click onto the link below:
www.usetdas.com/PR/eagleplains09092011.htm
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
Maximum News Dissemination by Filing Services Canada Inc. http://www.usetdas.com
URL: http://www.useTDAS.com
Sept. 2, 2011 News for 'EPL.V/EGPLF' - Turnberry to Acquire Wildhorse Property in North-Eastern British
Columbia from Eagle Plains
VANCOUVER, BRITISH COLUMBIA, Sep 01, 2011 (MARKETWIRE via COMTEX) -- Turnberry
Resources Ltd. (TSX VENTURE: TUR.P) ("Turnberry" or, the "Company"), a Vancouver
based Capital Pool Company listed on the TSX Venture Exchange (the "Exchange"),
is pleased to announce that it has entered into an Option Agreement dated
effective September 1, 2011 with Eagle Plains Resources Ltd.("Eagle Plains")
(TSX VENTURE: EPL), to earn up to a 75% interest in the Wildhorse Property
located 30 km north-east of Cranbrook in British Columbia, Canada.
The Option Agreement, if completed, will constitute the Company's "Qualifying
Transaction" under the Exchange's policies. The Option Agreement constitutes an
arm's length transaction and, in accordance with Exchange policies, will not be
subject to shareholder approval.
Option Agreement
Under the terms of the Option Agreement, Turnberry will acquire a 60% interest
in the Wildhorse Property in exchange for aggregate payments and share issuances
to Eagle Plains of $495,000 and 950,000 post sub-division common shares (please
see below under "Proposed Share Sub-Division") over a period of five years, and
by incurring expenditures of $4,900,000 on the Wildhorse Property over the same
time period. Upon Turnberry earning a 60% interest in the Wildhorse Property, a
joint venture will be formed between the parties.
Turnberry is entitled to earn a further 15% interest in the Wildhorse Property,
for an aggregate 75% interest, by making all expenditures required to deliver a
bankable Feasibility Study on the Wildhorse Property by no later than the eighth
anniversary of the date of regulatory approval of the Qualifying Transaction.
The Wildhorse Property is subject to a 4% gross metal royalty ("GMR") payable to
Eagle Plains, of which 2% may be bought out by Turnberry for $2,000,000 within 3
years of the commencement of commercial production. As well, Turnberry will have
the right of first refusal on the sale of the GMR.
Upon completion of the Qualifying Transaction, all securities of Turnberry held
by Principals of Turnberry (as such term is defined in the Exchange's policies)
will be held in escrow in accordance with the policies of the Exchange.
Proposed Share Sub-Division
Subject to necessary approvals and prior to closing the transactions underlying
the Qualifying Transaction, Turnberry anticipates sub-dividing its outstanding
common shares on a three for one basis.
Proposed Private Placement
Turnberry proposes to complete, concurrently with the closing of the Qualifying
Transaction, a non-brokered private placement of up to 10,400,000 units of the
Company at a price of $0.05 per unit, for gross proceeds of up to $520,000. Each
unit will consist of one post sub-division common share and one post
sub-division common share purchase warrant. Each warrant will entitle the holder
to acquire one additional post sub-division common share of the Company at a
price of $0.10 a share for period of five years from closing.
The proceeds of this private placement will be used to fund the costs associated
with completing the Qualifying Transaction, the proposed work programs on the
Wildhorse Project, and for general working capital purposes.
The Resulting Issuer
On closing of the Qualifying Transaction and the non-brokered private placement
(assuming the maximum 10,400,000 units are issued under the private placement),
Turnberry will be classified as a natural resource issuer and will have
approximately 16,700,000 issued post sub-division common shares and 10,400,000
post sub-division warrants outstanding that entitle the holders to purchase an
equal number of common shares. A total of 150,000 directors' and officers' stock
options and up to 300,000 agent's warrants will also be outstanding (each on a
post sub-division basis).
Directors, Officers and other Insiders
On completion of the Qualifying Transaction, the directors, senior officers,
insiders and senior advisors of the resulting issuer are anticipated to be:
David E. De Witt, Chief Executive Officer and Director
Mr. De Witt is a founder and chairman of Pathway Capital Ltd., a Vancouver based
private venture capital company. Mr. De Witt graduated with a BComm/LLB from the
University of British Columbia in 1978 and practiced corporate, securities and
mining law until his retirement from the practice of law in January 1997. He
currently holds directorships in a number of public companies involved in the
natural resource field and has experience in resource projects located in Latin
America, North America and Asia.
Chris Cooper, Director
Mr. Cooper has over fourteen years experience in oil and gas management and
finance. Mr. Cooper earned a Bachelor of Business Administration degree from
Hofstra University and an MBA from Dowling College. Mr. Cooper co-founded
several successful junior and intermediate oil and gas companies including
Benchmark Energy Corp., Choice Resources Corp., Watch Resources Ltd. and Banks
Energy Inc.
Robie Kendall Sterling, Director
Mr. Sterling has acted as a lumber trader for more than 20 years in the province
of British Columbia. Prior to this time, Mr. Sterling attended British Columbia
Institute of Technology and received a diploma in marketing.
Jason Tong, Chief Financial Officer
Mr. Tong is a Chartered Accountant and holds a Bachelor's of Commerce Degree in
Accounting from the University of British Columbia. Mr. Tong is currently the
Controller of Pathway Capital Ltd., a Vancouver based private venture capital
firm. Previously he was a senior accountant at an international shipping company
and a professional staff accountant at an international accounting firm where he
gained experience in financial reporting and corporate budgeting.
Charles Warren Beil, Corporate Secretary
Mr. Beil is the General Counsel to Pathway Capital Ltd., a private venture
capital firm headquartered in Vancouver, British Columbia. Prior to joining
Pathway, Mr. Beil practiced corporate and securities law with a leading
international law firm headquartered in Vancouver, British Columbia.
The Vendor
Eagle Plains is a company incorporated under the laws of Alberta and
extra-provincially registered in British Columbia. The common shares of Eagle
Plains currently trade on the TSX Venture Exchange.
Conditions Precedent
The parties' obligations to complete the Option Agreement are subject to the
satisfaction of the usual conditions precedent including obtaining all necessary
approvals of the Exchange to the Qualifying Transaction and the transactions
underlying the Option Agreement.
Summary of the Wildhorse Project
The Wildhorse Property is located in the Rocky Mountains (Latitude 49 degrees
44' N, Longitude 115 degrees 38 W), 17 kilometers north of Fort Steele in the
Fort Steele Mining Division, on NTS mapsheet 082G063. The Wildhorse Property is
situated 30 kilometers northeast of Cranbrook, B.C. The claim group consists of
a single converted MTO claim unit located on the east side of Wildhorse Creek.
The converted Wildhorse claim is the result of the consolidation of Eagle Plains
historic Wildhorse 1 and 2 and Dardenelles 1 and 2 claims.
The Wildhorse claim unit is located on the east side of the Wildhorse River, an
historic placer-gold producing area in southeastern British Columbia. In the
late 1800's over 1,000,000 ounces of gold were reported to have been extracted
from its gravels. The location of the claim coincides with the furthest reported
upstream placer gold occurrences.
The 355.24 hectare claim unit overlies Middle Proterozoic Creston and Aldridge
Formation Belt Purcell Supergroup stratigraphy.
The northern portion of the Wildhorse claim unit along Copper Creek is host to a
showing within the overlying Creston Formation. South of Copper Creek within the
central portion of the claim unit is the intermittent past producing Dardenelle
prospect. Historically this area was known as the Dardenelle and Motherlode
Crown grants which were surveyed by the Crown in 1898. An arrastra was built on
nearby Victoria Creek to process gold-bearing massive quartz from two adits
drifted on the Dardenelle claim at the end of the nineteenth century.
Eagle Plains completed a 9 hole, 731 metre NQ size diamond drill program in 2008
which was designed to expand the known dimensions of a previously exploited
quartz vein system. Drilling was extended to depth and predominantly north and
southerly resulting in both lateral and depth extensions to the massive quartz
vein occurrence. In part the southerly directed drill holes revealed an increase
in thickness of the upper quartz vein.
Further technical information concerning the Wildhorse Property will be
disclosed following completion of a technical report in accordance with National
Instrument 43-101, which is presently being prepared.
General
Completion of the transaction is subject to a number of conditions, including
but not limited to, Exchange acceptance and if applicable pursuant to Exchange
Requirements, majority of the minority shareholder approval. Where applicable,
the transaction cannot close until the required shareholder approval is
obtained. There can be no assurance that the transaction will be completed as
proposed or at all.
Investors are cautioned that, except as disclosed in the management information
circular or filing statement to be prepared in connection with the transaction,
any information released or received with respect to the transaction may not be
accurate or complete and should not be relied upon. Trading in the securities of
a capital pool company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved the contents of
this press release.
Trading in the Company's common shares on the Exchange will be halted pending
completion of the Qualifying Transaction.
Sponsorship of a qualifying transaction of a capital pool company is required by
the Exchange unless exempt in accordance with the Exchange policies or waived by
the Exchange. Turnberry intends to apply for an exemption or waiver from
sponsorship requirements. However, there is no assurance that Turnberry will be
able to obtain this exemption or waiver.
All scientific and technical disclosure relating to the Wildhorse Property
contained in this news release has been provided by Eagle Plains and has been
reviewed and approved by Tim J. Termuende, P.Geo., who is the President and CEO
of Eagle Plains and a "qualified person" within the meaning of National
Instrument 43-101.
ON BEHALF OF TURNBERRY RESOURCES LTD.
David De Witt, Chief Executive Officer and Director
This news release does not constitute an offer to sell or a solicitation of an
offer to sell any of the securities in the United States. The securities have
not been and will not be registered under the United States Securities Act of
1933, as amended or any state securities laws and may not be offered or sold
within the United States or to U.S. persons unless registered under the United
States Securities Act of 1933 and applicable state securities laws or an
exemption from such registration is available.
Forward-Looking Statements
This release contains certain "forward looking statements" and certain
"forward-looking information" as defined under applicable Canadian and U.S.
securities laws. Forward-looking statements can generally be identified by the
use of forward-looking terminology such as "may", "will", "expect", "intend",
"estimate", "anticipate", "believe", "continue", "plans" or similar terminology.
Forward-looking statements include, but are not limited to, statements with
respect to the completion of the qualifying transaction, the completion of the
transactions contemplated by the option agreement between Turnberry Resources
Ltd. and Eagle Plains Resources Ltd., the completion of the proposed share
sub-division and or the completion of the proposed private placement financing.
Forward-looking statements are based on forecasts of future results, estimates
of amounts not yet determinable and assumptions that, while believed by
management to be reasonable, are inherently subject to significant business,
economic and competitive uncertainties and contingencies. Certain of the
statements made herein by Turnberry Resources Ltd. are forward-looking and
subject to various risks and uncertainties, both known and unknown, many of
which are beyond the ability of Turnberry Resources Ltd. to control or predict.
Known and unknown factors could cause actual results to differ materially from
those projected in the forward-looking statements. Forward-looking information
is subject to known and unknown risks and uncertainties that may cause Turnberry
Resources Ltd.'s actual results, performance or achievements may be materially
different from those expressed or implied by such forward-looking information,
and are developed based on assumptions about such risks, uncertainties and other
factors set out here in, including but not limited
to the inherent risks involved in the exploration and development of mineral
properties, the uncertainties involved in interpreting drill results and other
exploration data, the potential for delays in exploration or development
activities, mine development and production costs, the projected life of the
Company's mines, future production levels, the geology, grade and continuity of
mineral deposits, the possibility that future exploration, development or mining
results will not be consistent with the Company's expectations, accidents,
equipment breakdowns, title matters, labor disputes or other unanticipated
difficulties with or interruptions in production and operations, fluctuating
metal prices, unanticipated costs and expenses, uncertainties relating to the
availability and costs of financing needed in the future, the inherent
uncertainty of production and cost estimates and the potential for unexpected
costs and expenses, commodity price fluctuations, currency fluctuations,
regulatory restrictions, including environmental regulatory restrictions and
liability, competition, loss of key employees, and other related risks and
uncertainties. The Company undertakes no obligation to update forward-looking
information except as required by applicable law. Such forward-looking
information represents management's best judgment based on information currently
available. No forward-looking statement can be guaranteed and actual future
results may vary materially. Accordingly, readers are advised not to place undue
reliance on forward-looking statements or information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Contacts:
Turnberry Resources Ltd.
C. Warren Beil
Corporate Secretary
(604) 628-1168
(604) 688-0094 (FAX)
SOURCE: Turnberry Resources Ltd.
August 11, 2011 News for 'EPL.V/EGPLF' - Eagle Plains/Drexel Commence Airborne Geophysical Survey on
Titan Gold Project, NW British Columbia
Cranbrook, British Columbia CANADA, Aug 11, 2011 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTC Pink)and
Drexel Resources Ltd. (DX:TSX-V) have commenced a 500 line-km airborne
geophysical (magnetometer and electromagnetic) survey on the Titan gold-copper
property, located in northwestern British Columbia. Following the survey, the
partners intend to complete follow-up geological work including geological
mapping, prospecting and soil sampling to define specific target areas for
diamond drilling. The survey is being conducted by SkyTEM Canada Inc.
The Titan property consists of 5100 hectares located 40 kilometers south west of
Atlin British Columbia, and 200 kilometers south of Whitehorse, Yukon. The east
side of the property borders the Taku Arm and may be accessed via barge from
Teslin. The White Pass Railroad, with direct access to the port of Skagway, is
located approximately 60 kilometres northwest of the property.
The project area covers portions of the prospective Llewellyn Fault, a >150
kilometre long crustal-scale fault system, which hosts numerous gold, silver and
base metal properties, including BC Gold's nearby Engineer Mine Project.
Mineralization on the Titan property includes a number of historic base and
precious metal BC Minfile occurrences associated with quartz veins and quartz
shears hosted by both metasediments and intrusives, as well as a high grade
molybdenum occurrence. Since acquiring the project in 2002, Eagle Plains and
partners have carried out prospecting, mapping, soil geochemical sampling, and
ground-based and airborne geophysics. Limited diamond drilling has been carried
out on the molybdenum occurrence.
The focus of the current program is to define the relationship of the Llewellyn
Fault to known mineralization and multi-element precious and base-metal soil
geochemical anomalies. Work by Eagle Plains in 2008 resulted in the discovery of
a new showing in the northwestern part of the property which returned 64 g/t Au
from a grab sample of strongly altered quartz material. Compilation work by
Eagle Plains indicates that that some of the precious-metal showings and soil
geochemical anomalies may lie along common controlling structures.
Under terms of an option agreement announced December 09, 2010, Drexel holds the
exclusive right to earn a 60% interest in the property by completing $3M in
exploration expenditures, making $500,000 in cash payments and issuing 1.0M
common shares to Eagle Plains over 4 years. Part of the property has an
underlying 1.5% NSR in favour of a third party, unrelated to either Eagle Plains
or Drexel, of which two thirds may be purchased for $1M.
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,
many with third parties including Minerals and Metals Group, Aben Resources Ltd.
(TSX-V:ABN), Providence Capital Corp. (TSX-V:PV), Waterloo Resources Ltd.
(TSX-V:WAT.P), Blackrock Resources Ltd. (a private B.C. company); Heemskirk
Canada Ltd., Drexel Resources Ltd. (TSX-V), Rosedale Resources Ltd (a private
B.C. company), Slater Mining Corp (TSX-V:SLM), Olympic Resources Ltd. (TSX-V:
OLA.P), Touchdown Capital Inc. (TSX-V: TDW), Bluefire Mining Corp. (a private BC
company), Active Growth Capital (TSX-V:ACK) and Giyani Gold 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 2011 are expected to be approximately $8,000,000 to be
funded by Eagle Plains and third party partners. This exploration work will
result in approximately 9400m diamond drilling and extensive ground-based
exploration work facilitating the advancement of more than 15 projects at
various stages of development.
Signed,
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE
(486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
August 9, 2011 - News for 'EPL.V/EGPLF' - Eagle Plains/Blackrock Commence Geophysical Survey on Elsiar
Copper-Gold Project, West-Central B.C.
Cranbrook, British Columbia CANADA, Aug 09, 2011 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTC
Pink),reports that Blackrock Resources Ltd. (a private B.C. corporation) has
commenced a $200,000 exploration program on the Elsiar copper-gold-moly
property. Crews are now in place on the property and line-cutting and
geophysical surveying (magnetometer and induced polarization "I.P.") is
currently underway. A total of 18 line-km of survey work is planned for the
property and will be followed up by prospecting and geological mapping. Drill
targets for future exploration are expected to be generated by this season's
work.
2011 fieldwork is directed and funded by Blackrock, which may earn a 60%
interest in the property by making exploration expenditures of $3,000,000 and
completing payments of 1,000,000 shares and $250,000 cash by 2014.
The Elsiar property is located 40km north of Terrace, B.C. and is held 100% by
EPL (subject to a 1% NSR). The project area has seen little historical activity
and was acquired by Eagle Plains in 2003 based on the presence of numerous
strong multi-element geochemical signatures in stream sediments. The property
benefits from excellent infrastructure including logging roads, hydroelectric
power lines and close proximity to rail and deep-water international ports in
Kitimat and Prince Rupert.
The property hosts widespread mineralization in surface occurrences over a 3.5
sq. km. area. Both surface and drillhole data suggest the presence of a
well-developed copper-gold-molybdenum porphyry system with high-grade Au
mineralization present in shears and veins. A 2005 drill program intersected
high-grade Au mineralization with values ranging from trace quantities to up to
14.0g/T Au over 1.0m (DDH LC05018). Molybdenum mineralization was encountered in
most holes, with assay values ranging from trace quantities to .01% Mo over 50.0
m, including 0.4% Mo over 6.0m (DDH LCO5016). Cu mineralization ranged from
trace quantities to 0.43% Cu over 6.1m (DDH LC04001). Additional broad areas
containing anomalous soil geochemical results were delineated during 2008 work,
with soil sample values ranging from trace values up to 31.9 g/t Au.
Fieldwork is being conducted by TerraLogic Exploration Ltd. of Cranbrook, BC, a
wholly-owned subsidiary of Eagle Plains.
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,
many with third parties including Minerals and Metals Group, Aben Resources Ltd.
(TSX-V:ABN), Providence Capital Corp. (TSX-V:PV), Waterloo Resources Ltd.
(TSX-V:WAT.P), Blackrock Resources Ltd. (a private B.C. company); Heemskirk
Canada Ltd., Drexel Resources Ltd. (TSX-V), Rosedale Resources Ltd (a private
B.C. company), Slater Mining Corp (TSX-V:SLM), Olympic Resources Ltd. (TSX-V:
OLA.P), Touchdown Capital Inc. (TSX-V: TDW), Bluefire Mining Corp. (a private BC
company), Active Growth Capital (TSX-V:ACK) and Giyani Gold 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 2011 are expected to be approximately $8,000,000 to be
funded by Eagle Plains and third party partners. This exploration work will
result in approximately 9400m diamond drilling and extensive ground-based
exploration work facilitating the advancement of more than 15 projects at
various stages of development.
Signed,
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE
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.
To view this release as a web page, please click on the following link:
http://www.usetdas.com/pr/eagle08092011.htm
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
Maximum News Dissemination by Filing Services Canada Inc. http://www.usetdas.com
Aug 4, 2011 News for 'EPL.V/EGPLF' - Eagle Plains and MMG Announce Two Property Option Agreements
CRANBROOK, British Columbia, Aug 04, 2011 (BUSINESS WIRE) -- Eagle Plains
Resources Ltd. (TSX-V:EPL) is pleased to announce that it has executed two
separate property option agreements with Minerals and Metals Group ("MMG")
relating to the Findlay and Boundary properties.
Findlay Project
MMG may earn a 60% interest in Eagle Plains' 100-per-cent-owned Findlay
properties, located 30 kilometers north of Kimberley, in south-eastern B.C..
Under terms of the agreement, MMG may earn a 60% interest in the 33,500 ha
property by making cash payments to EPL of $500,000 and completing $5,000,000 in
exploration expenditures over 5 years. MMG may earn an additional 15% interest
(for a total of 75%) by delivering a bankable feasibility study by 2018.
The Findlay Project overlies Aldridge Formation stratigraphy, considered
prospective for sedimentary-exhalative ("sedex") deposits. Structurally, this
area has been identified as an extension of the North Star-Sullivan corridor
which hosts the world class Sullivan deposit 30km to the south. The Findlay
property displays Sullivan-style exhalative tourmalinite (boron) horizons,
massive fragmental sections, anomalous lead, zinc, and indicator geochemistry,
and base metal occurrences. This "Sullivan smoke" occurs throughout the Lower to
Upper Aldridge formation and indicates the potential for Sullivan style
mineralization at multiple stratigraphic levels. Fieldwork by Eagle Plains has
identified a number of target including :
-- North Findlay: 100 meter thick multi kilometer scale
mineralized/tourmalinized exhalative horizon related to hydrothermal venting
within the Upper Aldridge stratigraphic interval.
-- Greenland Creek: Diamond drilling by Eagle Plains in 1997 intersected
numerous thin stratabound sulphide bands associated with albite / garnet /
chlorite alteration, some of which display continuity over 60m, and are open
down-dip and along strike. Dating indicates Sullivan age for Pb mineralization
in the Greenland Creek area.
-- Mid-Fork: Evidence for deep-seated structures including arched gabbros and
thickened, mineralized fragmental sequences at or near "Sullivan time".
Property scale mapping by Cominco Ltd. and Eagle Plains has established
excellent Aldridge marker control and many of the drill targets developed are
within the 500 -- 1000m range, considered to be shallow for Sullivan type
targets in the Purcell Basin.
Boundary Project
MMG may earn a 60% interest in Eagle Plains' 100-per-cent-owned Boundary (Dode)
properties, located along the US border approximately 20km SE of Creston,
British Columbia. The claims were acquired by Eagle Plains through staking
carried out in December, 2010. Under terms of the agreement, MMG may earn a 60%
interest in the property by reimbursing EPL all acquisition costs and completing
$3,000,000 in exploration expenditures over 5 years. MMG may earn an additional
15% interest (for a total of 75%) by delivering a bankable feasibility study by
2018.
About MMG
MMG is owned by Minmetals Resources Limited (HKSE 1208), an international
upstream base metals company. It is one of the world's largest producers of zinc
as well as a substantial producer of copper, lead, gold and silver. Minmetals
Resources Limited currently has mining operations located in Australia and Asia
and a large portfolio of exploration and development projects in Australia, Asia
and North America. Its operations include the Century mine in Queensland, Sepon
copper and gold operations in Laos, Golden Grove underground base and precious
metals mine in Western Australia and the polymetallic Rosebery mine in Tasmania.
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,
many with third parties including Minerals and Metals Group (HKSE:1208), Aben
Resources Ltd. (TSX-V:ABN), Providence Capital Corp. (TSX-V:PV), Waterloo
Resources Ltd. (TSX-V:WAT.P), Blackrock Resources Ltd. (a private B.C. company);
Heemskirk Canada Ltd., Drexel Resources Ltd. (TSX-V), Rosedale Resources Ltd (a
private B.C. company), Slater Mining Corp (TSX-V:SLM), Olympic Resources Ltd.
(TSX-V: OLA.P), Touchdown Capital Inc. (TSX-V: TDW), Bluefire Mining Corp. (a
private BC company), Active Growth Capital (TSX-V:ACK) and Giyani Gold 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 2011 are expected to be approximately $8,000,000 to be
funded by Eagle Plains and third party partners. This exploration work will
result in approximately 9400m diamond drilling and extensive ground-based
exploration work facilitating the advancement of more than 15 projects at
various stages of development.
Signed,
"Tim J. Termuende"
President and CEO
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.
CONTACT:
Eagle Plains Resources Ltd.
Mike Labach
1 866 HUNT ORE (486 8673)
July 19, 2011 News for 'EPL.V/EGPLF' - Eagle Plains/Rosedale Commence Airborne Geophysical Survey on
Rohan Copper-Gold Project, NW British Columbia
Cranbrook, British Columbia CANADA, Jul 19, 2011 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTC Pink),and
Rosedale Resources Ltd. (a private B.C. company) have commenced a 200 line-km
airborne geophysical (magnetometer and electromagnetic) survey on the Rohan
copper-gold property, located in northwestern British Columbia. Following the
survey, the partners intend to complete follow-up reconnaissance geological work
including silt-sampling and prospecting to define specific target areas for
future work.
The Rohan property is located immediately south of the Yukon border, 80
kilometres south of White Horse, YK, and 80 kilometres northwest of Atlin
BC.Logistically, the property is well situated along the White Pass rail line,
60 kilometres north of the port of Skagway, Alaska, with barge access to the
property from Carcross, Yukon.
The project area covers a 6 kilometre span of the prospective Llewellyn/Tally-Ho
shear zone, part of a larger (>150 kilometre long) crustal-scale fault system,
host to numerous gold, silver and base metal properties.The land package covers
several regional stream-silt (RGS) anomalies that includes better than 95th
percentile values for gold, copper, antimony, arsenic and lead.The presence of
on-strike, gold-bearing showings to the north and south gives the underexplored
property good potential for precious metal discoveries.
Under terms of an option agreement announced February 23, 2011, Rosedale holds
the exclusive right to earn a 60% interest in the 3,000 ha property by
completing $5M in exploration expenditures, making $500,000 in cash payments and
issuing 1.0M common shares to Eagle Plains over 5 years.Eagle Plains will
maintain a 4% Gross Metal Royalty on the claims, which may be reduced to 2% upon
payment of $2M.
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 Aben Resources Ltd. (TSX-V:ABN), Providence
Capital Corp. (TSX-V:PV), Waterloo Resources Ltd. (TSX-V:WAT.P), Blackrock
Resources Ltd. (a private B.C. company); Heemskirk Canada Ltd., Drexel Resources
Ltd. (TSX-V), Rosedale Resources Ltd (a private B.C. company), Slater Mining
Corp (TSX-V:SLM), Olympic Resources Ltd. (TSX-V: OLA.P), Touchdown Capital Inc.
(TSX-V: TDW), Bluefire Mining Corp. (a private BC company), Active Growth
Capital (TSX-V:ACK) and Giyani Gold 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 2011 are expected to be approximately $8,000,000 to be
funded by Eagle Plains and third party partners.This exploration work will
result in approximately 9400m diamond drilling and extensive ground-based
exploration work facilitating the advancement of more than 15 projects at
various stages of development.
Signed,
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE
(486 8673)
Email: mgl@eagleplains.com
July 6, 2011 News for EPL.V/'EGPLF' - Eagle Plains/Olympic Commence Drilling Program at Dragon Lake
Gold Project, Yukon
Cranbrook, British Columbia CANADA, Jul 06, 2011 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture),announces that
drilling activity has commenced on the 2,300 acre Dragon Lake project (the
"Property") located 85km northeast of Ross River, Yukon. Approximately 750m
(2500') of drilling is planned for three separate areas of the Property. The
budget for 2011 work is $400,000 and is expected to take 2-3 weeks to complete.
As announced June 20th, Eagle Plains and Olympic recently executed a formal
option agreement (subject to TSX-V approval) whereby Olympic has the exclusive
right to earn a 60% interest in the Property.To exercise the option, Olympic
must complete $3,000,000 in exploration expenditures, issue 1,000,000 common
shares and make cash payments of $500,000 to Eagle Plains over 4 years.
Property Geology and Mineralization
Mineralization on the property is associated with an elongate Tombstone Suite
intrusive which has intruded sedimentary rocks of the Hyland Group. Contact
metamorphism related to intrusion of the pluton has resulted in a distinct
alteration halo which hosts known mineralization.Work carried out by Eagle
Plains in 2010 on the Main Zone included continuous chip trench sampling which
returned 4.9 g/t gold over 6.0m, including 6.7 g/t over 4.0m (T-11) and 6.0m
grading 2.8 g/t (T-02). A grab sample of material from a 1.2m wide quartz vein
returned 19.8 g/t gold. Exploration pits dug in 2010 by Eagle Plains in areas of
anomalous soil samples from past programs returned 2.85 g/t gold and 2.25 g/t
gold, respectively.
Property History
The property was first staked in 1966 by Kennco Exploration, which completed
geological and geophysical survey work. Canamax and Welcome north carried out
additional surface work in 1983 and 1988, respectively. Eagle Plains staked the
property in 1996 and have completed 7 separate exploration programs in the
ensuing years. In 2010, Eagle Plains completed rock and soil geochemical
sampling and an airborne geophysical survey.
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 Aben Resources Ltd. (TSX-V:ABN), Providence
Capital Corp. (TSX-V:PV), Waterloo Resources Ltd. (TSX-V:WAT.P), Blackrock
Resources Ltd. (a private B.C. company); Heemskirk Canada Ltd., Drexel Resources
Ltd. (TSX-V), Rosedale Resources Ltd (a private B.C. company), Slater Mining
Corp (TSX-V:SLM), Olympic Resources Ltd. (TSX-V: OLA.P), Touchdown Capital Inc.
(TSX-V: TDW), Bluefire Minerals Corp (a private BC company), Active Growth
Capital (TSX-V:ACK) and Giyani Gold 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 2011 are expected to be approximately $8,000,000 to be
funded by Eagle Plains and third party partners.This exploration work will
result in approximately 9400m diamond drilling and extensive ground-based
exploration work facilitating the advancement of more than 15 projects at
various stages of development.
Signed,
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE
(486 8673)
Email: mgl@eagleplains.comor visit our website at http://www.eagleplains.com
June 27, 2011 News for EPL.V/EGPLF - Eagle Plains/Olympic Execute Option Agreement on Dragon Lake Gold Project, Yukon Territory
CRANBROOK, British Columbia, Jun 27, 2011 (BUSINESS WIRE) -- Eagle Plains
Resources Ltd. (TSX-V:EPL) (Pink Sheets: EGPLF) and Olympic Resources Ltd.
(OLA.P) have executed a formal option agreement whereby Olympic will have the
exclusive right to earn a 60% interest in the 2,300 acre Dragon Lake project
located 85km northeast of Ross River, Yukon. To exercise the option, Olympic
must complete $3,000,000 in exploration expenditures, issue 1,000,000 common
shares and make cash payments of $500,000 to Eagle Plains over 4 years. Soil
geochemical sampling, limited trenching and drilling has been completed by Eagle
Plains since 1996 and has indicated that significant gold mineralization is
present within property boundaries. Drilling of the property is expected to
commence within three weeks.
Property Geology and Mineralization
Mineralization on the property is associated with an elongate Tombstone Suite
intrusive which has intruded sedimentary rocks of the Hyland Group. Contact
metamorphism related to intrusion of the pluton has resulted in a distinct
alteration halo which hosts known mineralization. Work carried out by Eagle
Plains in 2010 on the Main Zone included continuous chip trench sampling which
returned 4.9 g/t gold over 6.0m, including 6.7 g/t over 4.0m (T-11) and 6.0m
grading 2.8 g/t (T-02). A grab sample of material from a 1.2m wide quartz vein
returned 19.8 g/t gold. Exploration pits dug in 2010 by Eagle Plains in areas of
anomalous soil samples from past programs returned 2.85 g/t gold and 2.25 g/t
gold, respectively.
Property History
The property was first staked in 1966 by Kennco Exploration, which completed
geological and geophysical survey work. Canamax and Welcome north carried out
additional surface work in 1983 and 1988, respectively. Eagle Plains staked the
property in 1996 and have completed 7 separate exploration programs in the
ensuing years. In 2010, Eagle Plains completed rock and soil geochemical
sampling and an airborne geophysical survey.
Update on Kalum Property Option
Eagle Plains has recently received notice that Windstorm Resources Inc.
(TSX-V:WSR) has terminated its option on the Kalum gold property located near
Terrace, in west-central British Columbia.
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 Aben Resources Ltd. (TSX-V:ABN), Providence
Capital Corp. (TSX-V:PV), Waterloo Resources Ltd. (TSX-V:WAT.P), Blackrock
Resources Ltd. (a private B.C. company); Heemskirk Canada Ltd., Drexel Resources
Ltd. (TSX-V), Rosedale Resources Ltd (a private B.C. company), Slater Mining
Corp (TSX-V:SLM), Touchdown Capital Inc. (TSX-V: TDW), Bluefire Minerals Corp (a
private BC company), Active Growth Capital (TSX-V:ACK) and Giyani Gold 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 2011 are expected to be approximately $8,000,000 to be
funded by Eagle Plains and third party partners. This exploration work will
result in approximately 9400m diamond drilling and extensive ground-based
exploration work facilitating the advancement of more than 15 projects at
various stages of development.
Signed,
"Tim J. Termuende" President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE
(486 8673) Email: mgl@eagleplains.com or visit our website at
http://www.eagleplains.com
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
June 21, 2011 News - EcoMax Announces Changes to the Board of Directors, Acquisition of Interest in Acacia Property and Application to Graduate from NEX to Tier 2 TSX Venture Exchange
VANCOUVER, BRITISH COLUMBIA, Jun 21, 2011 (Marketwire via COMTEX) -- EcoMax
Energy Services Ltd. (the "Company") (TSX VENTURE:EES.H) is pleased to announce
that it has entered into an option agreement with Eagle Plains Resources Ltd.
("EPL") as of June 14, 2011 (the "Option Agreement"), wherein the Company will
acquire an exclusive option to earn 60% of EPL's interest (the "Acquisition") in
and to the mineral properties comprising EPLs "Acacia Property" located the
Adams Plateau of British Columbia in the Kamloops Mining Division (the "Acacia
Property").
The Acacia Property Highlights
The Acacia Property is composed of seven mining claims, totalling over 4,600
hectares, and is located 45 kilometres north of Kamloops in central British
Columbia.
It is considered to have good potential for hosting Volcanogenic Massive
Sulphide (VMS) deposits. These deposits typically contain both base and precious
metals, and occur in clusters and/or stacked lenses. The property covers a
stratigraphic assemblage which hosts a number of nearby past-producing base and
precious-metal deposits including the Samatosum, Rea Gold, and Homestake mines.
The property currently has at least three known target areas.
-- Previous operators reported diamond drilling results including 10.6 g/t
Au, 335.3 g/t Ag , 3.13 % Zn, 2.74% Pb, and 0.55% Cu over 2.37m on the
Twin Mountain occurrence
-- Eight massive sulphide lenses and a 1500m x 250m soil anomaly at the
Acacia Zone remain untested by drilling.
The parties caution that past results or discoveries on proximate land are not
necessarily indicative of the results that may be achieved on the Acacia
property.
The geological contents of this release have been prepared by Stephen P.
Kenwood, P.Geo. a qualified person as defined by National Instrument 43-101. A
detailed geological review and compilation of the Acacia Property can be found
on the EPL website: http://www.eagleplains.com/projects/bc/acacia/
Acquisition Highlights
Pursuant to the Option Agreement, the Company will acquire an option to purchase
a 60% interest in the Acacia Property over the course of four years, by paying a
total cash consideration of $240,000 and issuing 1 million of the Company's
voting common shares to EPL, and to complete $3 million worth of exploration
work on the Acacia Property, as follows:
----------------------------------------------------------------------------
Cash Payments Shares(1) Expenditures
----------------------------------------------------------------------------
On signing of Option CAD$10,000 N/A N/A
Agreement
On Exchange approval/ CAD$10,000 150,000 Shares N/A
acceptance of the
Acquisition ("Exchange
Acceptance")
On or before the 1st CAD$40,000 200,000 Shares CAD$200,000
anniversary of Exchange
Acceptance
On or before the 2nd CAD$80,000 200,000 Shares CAD$300,000
anniversary of Exchange
Acceptance
On or before the 3rd CAD$100,000 200,000 Shares CAD$600,000
anniversary of Exchange
Acceptance
On or before the 4th N/A 250,000 Shares CAD$800,000
anniversary of Exchange
Acceptance
On or before the 5th N/A N/A CAD$1,100,000
anniversary of Exchange
Acceptance
TOTAL CAD$240,000 1,000,000 Shares CAD$3,000,000
----------------------------------------------------------------------------
(1) Voting common shares in the securities of the Company ("Shares").
Upon the Company exercising the option, the Company and EPL will automatically
enter into a joint venture, with the Company and EPL respectively holding 60%
and 40% interest in the Acacia Property, for the purposes of further
exploration, evaluation and development of the Acacia Property towards
commercial production.
Conditions of the Acquisition
Completion of the Acquisition as contemplated would constitute a Change of
Business in accordance with TSX Venture Exchange ("Exchange") policy 5.2 and is
subject to a number of conditions including, but not limited to, closing of the
Private Placement, Exchange acceptance and, if required by Exchange policies,
shareholder approval. Where applicable, the Acquisition cannot close until the
required disinterested shareholder approval is obtained. There can be no
assurance that the Acquisition will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information
circular or filing statement to be prepared in connection with the Acquisition,
any information released or received with respect to the Acquisition may not be
accurate or complete and should not be relied upon.
In accordance with Exchange policy, the Company's shares are currently halted
from trading and will remain so until such time as the Exchange determines
which, depending on the policies of the Exchange, may not occur until the
completion of the Acquisition.
Application to Graduate from NEX to TSXV
The Acquisition is part of a series of transactions the Company has undertaken
in connection of the Company's application to graduate from NEX to Tier 2 of the
Exchange.
The Company has sold its previous industrial supplies assets over the course of
several months and became an inactive company trading on NEX on August 4, 2010.
With the completion of the Acquisition and related financing transactions, the
Company will become a junior mining issuer. Concurrently, the Company plans to
change its name, with shareholder approval, to "Tasca Resources Ltd."
Share Consolidation
Also concurrent with the closing of the Acquisition, the Company proposes a
share consolidation on the basis of two old common shares of the Company for one
new common share of the Company. The proposed share consolidation would result
in the number of issued and outstanding shares of the Company being reduced from
29,045,479 common shares without par value to 14,522,740 common shares without
par value.
Management of the Company believes that the share consolidation is necessary in
order to provide the Company with a share capital structure that will make the
Company more attractive for investment and will better provide for future growth
opportunities.
Shareholder approval will be sought to approve the share consolidation at the
Company's upcoming annual and special meeting to be held on July 29, 2011. In
addition, the share consolidation is subject to the approval of the Exchange.
Private Placement
Concurrent with the closing of the Acquisition, the Company expects to complete
the following two private placements on a post-consolidated basis:
1. 1,500,000 flow-through units (the "FTUnits") of the Company at a price
of $0.23 per Unit for gross proceeds of $345,000. Each Unit will be
comprised of one common share and one half share purchase warrant, each
warrant entitling the holder to purchase an additional common share at
an exercise price of $0.35 per share for a period of two years.
2. 2,000,000 non-flow-through units (the "NFTUnits") of the Company at a
price of $0.20 per Unit for gross proceeds of $400,000. Each Unit will
be comprised of one common share and one half share purchase warrant,
with each whole warrant entitling the holder to purchase an additional
common share at an exercise price of $0.35 per share for a period of two
years.
The net proceeds of the Private Placements will be used by the Company to
complete the required exploration expenditures with respect to the Acacia
Property, for general working capital expenses, and in contemplation of the
possibility of securing additional property assets.
A finders fee may be payable by the Company in connection with the private
placements, within the limits prescribed by the policies of the Exchange.
Directors and Insiders
Upon completion of the Acquisition, it is anticipated that the Company's Board
of Directors will be composed of three members, including Craig Naughty and Jim
Darcel, who currently sit on its Board and hold the positions of President and
CFO respectively, plus Marvin Mitchell P. Geo., a newly appointed Director. Both
Mark Hopkins and Ed Grimes have tendered their resignations from the Board of
Directors.
It is anticipated that the only insiders of the Company following completion of
the Acquisition will be the three Board members with the exception of any
nominees for Directors elected at the forthcoming Annual and Special Meeting and
Mr. Michael Romanik who currently owns approximately 11.22% of the Company's
issued and outstanding shares.
The following is a brief summary of the Board of Directors:
Craig Naughty, President
Mr. Naughty has been a Director of the Company since March 21, 2011 and
President & CEO since March 24, 2011. He is currently the President, CEO and
Director of First Lithium Resources Inc., a position he has held since May 1,
2009. He has also served as CFO, Corporate Secretary and Director for both
Cloudbreak Resources Ltd., and Touchdown Resources Inc., the latter of which he
remains as a director. While attending York University under academic
scholarship, he received a Bachelor's Degree in economics, and then continued
studies in the MBA program at York, and at Osgoode Law School. He brings with
him 12 years of business management and development skills.
Jim Darcel, Director, CFO
Mr. Darcel has been a Director of the company since February 17, 2011, and CFO
since March 21, 2011. Mr. Darcel graduated in 1985 from the University of
Manitoba with a Bachelor of Arts degree and began his career with the Toronto
Stock Exchange in 1986. He held positions in the economics and derivative
markets departments, including at the Toronto Futures Exchange until he returned
to Winnipeg in 1990. He was granted the right to use the Chartered Financial
Analyst (CFA) designation in 1994 and has been employed over the past few years
with a number of firms as an analyst, director, trading officer, investment
counsel, portfolio manager, and in other capacities. He is currently an
independent investment research analyst covering publicly traded companies in a
number of broad sectors, including natural resources, exploration and
development, small energy, and emerging technologies. Mr. Darcel is a Director
of Newcastle Minerals Ltd. and Mainstream Minerals Corporation.
Marvin Mitchell, P.Geo
Mr. Mitchell was appointed to the Board of Directors on June 14, 2011. Mr.
Mitchell received a degree in geology from the Montana College of Mineral
Science and Technology (formerly Montana School of Mines) in 1968 and is a
registered professional engineer in the Province of British Columbia. He brings
with him over 38 years of experience in the mineral exploration industry,
including eight years as exploration manager for the minerals division of Ranger
Oil Ltd. Mr. Mitchell has been a Director of several Exchange listed companies
over the years.
All geological information provided in this press release, including all
information on the Property, has been prepared by Stephen P. Kenwood, P.Geo., a
qualified person as defined by National Instrument 43-101 and provided by
management of EPL and has not been independently verified by management of the
Company.
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: EcoMax Energy Services Ltd.
CONTACT: EcoMax Energy Services Ltd.
Craig Naughty
Director
(604) 669-0401
(604) 669-0414(FAX)
tascaresources@gmail.com
Copyright (C) 2011 Marketwire.
June 21 News - Eagle Plains/Ecomax Enter Into Option Agreement on Acacia Project, Central British Columbia
CRANBROOK, B.C., Jun 21, 2011 (BUSINESS WIRE) -- Eagle Plains Resources Ltd.
(EPL:TSX-V)(Pink Sheets: EGPLF) and Ecomax Energy Services Ltd. ("Ecomax" EES.H:
TSX-V) have entered into an agreement whereby Ecomax may earn a 60% interest in
the 4,600 ha Acacia Property, located 45 km north of Kamloops in central British
Columbia. Under terms of the Agreement, Ecomax has the option to earn its
interest in the property by completing $3M in exploration expenditures, making
$240,000 in cash payments and issuing 1.0M common shares to Eagle Plains over 4
years.
The Acacia property is considered to have good potential for hosting
Volcanogenic Massive Sulphide (VMS) deposits. These deposits typically contain
both base and precious metals, and occur in clusters and/or stacked lenses. The
property covers a stratigraphic assemblage which hosts a number of nearby
past-producing base and precious-metal deposits including the Samatosum, Rea
Gold, and Homestake mines. The property currently has at least three known
target areas. The parties caution that past results or discoveries on proximate
land are not necessarily indicative of the results that may be achieved on the
Acacia property.
-- Previous operators reported diamond drilling results including 10.6 g/t Au,
335.3 g/t Ag , 3.13 % Zn, 2.74% Pb, and 0.55% Cu over 2.37m on the Twin Mountain
occurrence
-- Eight massive sulphide lenses and a 1500m x 250m soil anomaly at the Acacia
Zone remain untested by drilling.
A detailed geological review and compilation may be viewed 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 Aben Resources Ltd. (TSX-V:ABN), Providence
Capital Corp. (TSX-V:PV), Waterloo Resources Ltd. (TSX-V:WAT.P), Blackrock
Resources Ltd. (a private B.C. company); Heemskirk Canada Ltd., Drexel Resources
Ltd. (TSX-V), Rosedale Resources Ltd (a private B.C. company), Slater Mining
Corp (TSX-V:SLM), Touchdown Capital Inc. (TSX-V: TDW), Bluefire Minerals Corp (a
private BC company), Active Growth Capital (TSX-V:ACK) and Giyani Gold 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 2011 are expected to be approximately $8,000,000 to be
funded by Eagle Plains and third party partners. This exploration work will
result in approximately 9400m diamond drilling and extensive ground-based
exploration work facilitating the advancement of more than 15 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
Mike Labach, 1-866-HUNT-ORE (486-8673)
mgl@eagleplains.com
http://www.eagleplains.com
News - 5/19/2011: Providence Resources/Eagle Plains Resources Conduct Geophysical and Geochemical Surveys on the Iron Range Project
Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - Pink
Sheets),and Providence Resources Corp. (TSX-V:PV) have resumed fieldwork at the
Iron Range Project.Scott Geophysics Ltd. and TerraLogic Exploration Inc. have
been retained to perform borehole directional and ground based induced
polarization (IP) geophysics and soil geochemical surveys.
The IP surveys will target the area of gold-bearing massive sulphide
mineralization intersected by diamond drilling in 2010(see Dec 21, 2010 news
release). Highlights included drill hole IR10-010, which included:
* 196.9-204.0m: 7.1m @ 8.13g/t Au, 5.91% Pb/Zn, 86.6g/t Ag
* 224.0-280.5m: 56.5m @ 1.9g/t Au, 21.5g/t Ag
* Also including lowermost 277.5-279.5m: 2.0m @ 12.8g/t Au, 9.24% Pb/Zn,
122.5g/t Ag; elevated Cd, Sb, Sn, Bi, B, Cu.
The lowermost zone is interpreted to lie at or near the lower-middle Aldridge
Formation contact (LMC). The LMC is the interval which hosts the world class
Sullivan deposit. The structural setting, alteration assemblages and accessory
minerals encountered are also consistent with those associated with the Sullivan
deposit.
A borehole directional survey will test a number of drill holes to help define
the extension and orientation of the semi-massive to massive sulphides
encountered in drilling at the Talon zone. A ground based IP survey is currently
being conducted over the Talon zone, and the surface lineament extensions to the
north and northeast of the Talon zone. Chargeability and resistivity profiles
will be reviewed with respect to known mineralization to define targets for
drill testing of extensions of mineralization.
A new target area for geochemical soil sampling has been defined through a
compilation of recent and historical drill data which places the Lower-Middle
Aldridge Formation (LMC) contact topographically lower and hence outside the
area of previous soil geochemistry surveys. The current survey has been
initiatedin the southeastern part of the property and encompasses approximately
25.0 line-km of both contour and grid soil geochemical surveys. Geological
mapping within and proximal to the survey area is occurring concurrently.
Both the geophysical and geochemical surveys are expected to be completed near
the end of May. This work forms a portion of Phase III which is to include a
property wide airborne survey, additional mapping, and soil geochemistry. The
estimated budget for this phase is set at $700,000.00. The objective is to
develop additional SEDEX and gold drill targets.
Geological exploration contracting services on the Iron Range property during
2011 are being provided by TerraLogic Exploration of Cranbrook, B.C. (a
wholly-owned subsidiary of Eagle Plains). All fieldwork is under the supervision
of geologist J.K. Ryley while C.C. Downie, P.Geo. is hereby identified as the
overall project supervisor, hereby designated as a qualified person under
National Instrument 43-101.
Iron Range Project Summary
The Iron Range deposits were originally staked in 1897, and were covered by
Crown Grants held by Cominco Ltd. and the Canadian Pacific Railway. Eagle Plains
staked the current claims immediately after the Crown Grants reverted in 2000,
and have been exploring the property since then. Exploration work to date
includes geological mapping, geochemical surveys, diamond drilling and a
690-line-kilometre airborne geophysical survey. The Iron Range project is owned
100 per cent by Eagle Plains and holds no underlying royalties or encumbrances.
An additional 35,800 hectares of claims were added to the existing land package,
resulting in a total of 56,200 ha -- an area approximately 11 km by 50 km. The
land package now covers over 30 km of the Iron Range structure, most of it
unexplored.The claims also overlie rocks of the Aldridge Formation, including
the same stratigraphic time horizon which hosts the world-class Sullivan deposit
located 70km to the northeast.Over its 100 year lifetime, Sullivan produced
approximately 150,000,000 tonnes of ore including 300,000,000 ounces of silver,
8,000,000 tonnes of zinc and 8,000,000 tonnes of lead, collectively worth over
$30 billion at current metal prices. The parties caution that past results or
discoveries on proximate land are not necessarily indicative of the results that
may be achieved on the Iron Range property.
Providence Option Agreement
The Iron Range project is owned 100% by Eagle Plains and holds no underlying
royalties or encumbrances. Providence holds the option to earn a 60% interest in
the Property by spending $3,000,000 on exploration, making $500,000 in cash
payments and issuing 1,000,000 shares to EPL over 4 years.
About Providence Resources Corp
Providence Resources 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.Expenditures during 2011 are planned to be approximately $8,000,000 to
be funded by Eagle Plains and third party partners.This exploration work will
result in approximately 9400m diamond drilling and extensive ground-based
exploration work facilitating the advancement of more than 15 projects at
various stages of development.
Vince Sorace
President, Providence Resources Corp.
Tim J. Termuende, P.Geo.
President, Eagle Plains Resources Ltd.
For further information relating to Providence, please email
info@providenceresources.ca
or visit our website at www.providenceresources.ca
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.
To view this release as a web page, please click on the following link:
http://www.usetdas.com/pr/eagle05192011.htm
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
Maximum News Dissemination by Filing Services Canada Inc. http://www.usetdas.com
5/12/2011-News EPL.V/EGPLF.PK News for 'EGPLF' - Eagle Plains/Bluefire Enter into Option Agreement on K-9
Project, South-Eastern British Columbia
Cranbrook, British Columbia CANADA, May 12, 2011 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF -
OTCBB_Pink_Sheets), and Bluefire Mining Corp. (a private B.C. company) have
entered into an agreement whereby Bluefire may earn an interest in the K-9
copper-gold property, located in south-eastern British Columbia. Under terms of
the agreement, Bluefire has the option to earn a 60% interest in the 9,760 ha
property by completing $5M in exploration expenditures, making $500,000 in cash
payments, and issuing 1.0M common shares to Eagle Plains over 5 years.Eagle
Plains will maintain a 4% Gross Metal Royalty on the claims, which may be
reduced to 2% upon payment of $2M.
The K-9 property is located 30km west of Kimberley and covers the projected
northern extension of the Iron Range structure, currently the focus of ongoing
exploration by Eagle Plains and its partner Providence Resources Ltd. The
property surrounds the historic Great Dane Crown grants. The target
mineralization on the K9 property is stratabound massive sulphides within
Creston Formation rocks possibly related to the same regional structure as the
Iron Range deposits.
In the early 1900's, miners drove a300-foot tunnel at the Great Dane to exploita
1.8 meter wide stratabound lens of silver-bearing lead-zinc-copper sulphides.
Channel sampling of this mineralization in the mid 1980's returned values
including 20.29 ounces per ton silver, 2% Cu, and 61.50% lead across a width of
0.6 meters, 18.2 ounces per ton silver and 45.40% lead across 0.6 meters and
10.12 ounces per ton silver and 32.60% lead across 0.5 meters.(BCMEMPR AR
15309)The parties caution that past results or discoveries on proximate land are
not necessarily indicative of the results that may be achieved on the K9
property.
After acquiring the area surrounding the Great Dane Crown Grants in 1996, work
by Eagle Plains identified a 7m-deep shaft sunk within a 2.7m-wide massive
pyrrhotite lens, located at a similar elevation, and directly on strike with,
the Great Dane adits. Grab samples of the massive sulphides returned values of
up to 27.6 g/t Ag, and 2.13% Cu. The 1996 work also delineated a strong, 1.5
kilometer-long geochemical anomaly which indicates that one or more mineralized
horizons may be present within the property area. Results from an airborne
geophysical survey flown in 2004 by Eagle Plains indicate a number of anomalous
electromagnetic responses which appear to be related in part to the known
mineralized zones. These zones remain untested.
The K9 claims cover a steeply dipping package of phyllitic quartzites and
dolomitic limestones belonging to the Proterozoic Creston and Kitchener
Formations.The mineralization at the Great Dane and K9 adits appears to be
related to a near vertical structure which may be part of the regional Iron
Range Fault Zone.
Bluefire and Eagle Plains plan to carry out an airborne geophysical survey
during the summer of 2011 and intend to follow up results of this work with
additional exploration activity.
Update on Eagle Lake Project
Sandstorm Resources Ltd has recently notified Eagle Plains that it will not
proceed with its option on the Eagle Lake U - REE Project, located 30 km south
of the Athabasca Basin in northern Saskatchewan. Work by Eagle Plains and
Sandstorm has led to the discovery of basement hosted uranium mineralization on
the property.
The Red October showing has been defined in over 270 meters of strike length in
trenches, within a geochemical anomaly of over 500 meters strike length
associated with an airborne geophysical anomaly of greater than 1 kilometer.
Samples collected from the showing and trenches returned exceptional uranium
assays including a 1.0 m yellow-stained chip sample which returned 1.56% U3O8
and a grab sample of a yellow-stained black alteration selvage which returned
2.24% U3O8. The mineralization is associated with intrusions and meta sediments
of the Wollaston Group.
The claim region is part of a newly recognized >300km long belt of U -
REE-bearing pegmatites and intrusions within the Wollaston Domain defined by
numerous new properties currently under investigation by Eagle Plains which is
seeking a partner to continue to advance this exciting project.
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 Aben Resources Ltd. (TSX-V:ABN), Providence
Capital Corp., Waterloo Resources Ltd. (TSX-V:WAT.P), Windstorm Resources Inc.,
Blackrock Resources Ltd. (a private B.C. company); Heemskirk Canada Ltd.,
Touchdown Capital Inc. (TSX-V: TDW), Active Growth Capital (TSX-V:ACK) and
Giyani Gold 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 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
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.
To view this release as a web page, please click on the following link:
http://www.usetdas.com/pr/eagle05122011.htm
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
Maximum News Dissemination by Filing Services Canada Inc. http://www.usetdas.com
April 11, 2011 News for 'EPL.V/EGPLF' - Providence Resources/Eagle Plains Provide Analytical Results
from Diamond Drill Program at Iron Range Project
VANCOUVER, British Columbia, Apr 11, 2011 (BUSINESS WIRE) -- Providence
Resources Corp. (TSX VENTURE:PV) and Eagle Plains Resources Ltd. (TSX
VENTURE:EPL) have received analytical results from the Iron Range drill program
in southeastern British Columbia. Results are from the Talon Zone in which
significant gold and base-metal mineralization was reported in Hole IR10-010 by
Eagle Plains/Providence (see news release Dec 21, 2010).
Results are as follows:
Hole Number From(m) To(m) Length(m) Au(g/t) Pb(%) Zn(%) Ag(g/t)
----------- ------- ------ --------- ------- ----- ----- -------
IR11-015 270.50 303.00 32.50 1.0 .1 .1 2.7
----------- ------- ------ --------- ------- ----- ----- -------
Including 270.50 272.00 1.50 2.8 .46 .45 9.1
----------- ------- ------ --------- ------- ----- ----- -------
Including 288.00 293.10 5.10 3.9 .41 .49 10.1
----------- ------- ------ --------- ------- ----- ----- -------
Also 292.00 293.10 1.10 14.3 1.8 .31 42.1
Including
----------- ------- ------ --------- ------- ----- ----- -------
IR11-017 22.00 40.00 18.00 0.7 .31 .17 8.5
----------- ------- ------ --------- ------- ----- ----- -------
Including 24.00 25.00 1.00 2.2 1.76 .06 49.0
----------- ------- ------ --------- ------- ----- ----- -------
IR11-021 262.00 280.00 18.00 0.8 .04 .04 2.5
----------- ------- ------ --------- ------- ----- ----- -------
Including 262.00 265.00 3.00 3.1 .12 .13 9.9
----------- ------- ------ --------- ------- ----- ----- -------
Including 275.00 276.00 1.00 3.2 .17 .05 5.5
----------- ------- ------ --------- ------- ----- ----- -------
IR11-025 11.00 90.00 79.00 0.4 .06 .07 9.7
----------- ------- ------ --------- ------- ----- ----- -------
IR11-026 173.20 274.60 101.40 0.5 .08 .15 6.3
----------- ------- ------ --------- ------- ----- ----- -------
Including 175.50 176.35 0.85 5.5 2.57 4.08 61.0
----------- ------- ------ --------- ------- ----- ----- -------
Including 239.00 245.00 6.00 1.0 .11 .28 4.7
----------- ------- ------ --------- ------- ----- ----- -------
Including 269.00 274.00 5.00 1.1 .08 .1 3.4
----------- ------- ------ --------- ------- ----- ----- -------
IR11-015 intersected an additional zone of mineralization 170m below that
reported on March 28, 2011. This zone appears to correlate with a southern
extension of the mineralization at depth in IR11-011. Drilling direction does
not allow for an estimate of true width.
IR11-017, from a similar collar location as IR11-015, was drilled on a westerly
azimuth within the oxide zone. This intercept appears to approximate a true
width within the oxide zone.
Drill holes IR11-021 and IR11-023 were drilled at 140 deg and 330 deg ,
respectively, to cross the mineralized structure. Both holes intersected weak
mineralization inferred to lie above the elevation range noted to host the most
well developed mineralization. The IR11-021 intercept is inferred to have a true
thickness of approximately 6.0 metres, consistent with narrowing at higher
levels. IR11-023 generated insignificant results.
IR11-025 encountered near surface mineralization in proximity to the upper
mineralized zone previously announced for IR11-015. Additional drilling is
required to determine the actual thickness of the zone.
IR11-026 crossed a section of pervasive silicic and sericitic alteration
variably hosting disseminated to locally net-textured sulphide and minor
sulphosalts. This intercept is interpreted to lie within a steep west dipping
alteration zone. The limited drilling through this zone places a preliminary
estimate of actual thickness at 30 metres.
Drill holes IR11-027, 028, and 029 have since been completed and are currently
being logged and sampled.
The partners have elected to suspend drilling operations within the Talon Zone
during spring break-up. This timeframe will be used to compile structural,
lithological, and analytical data to aid in delineating the apparent offset of
precious and base metal mineralization encountered in a number of the drill
holes. A geophysical survey may be employed to discern zones of conductivity and
resistivity.
Drill targets to the south, northwest, and northeast of the Talon Zone are
currently being analyzed and planned for. To the northwest, the Sullivan horizon
(LMC) will be tested for SEDEX mineralization within a group of upper elevated
Pb, Zn, and As soil anomalies. This location lies proximal to the western flank
of the structural graben, approximately 600 meters to the west of the Talon
zone.
The LMC east of the Talon Zone underlies elevated base metal geochemistry over a
near continuous distance of 1.5km. Drilling is planned to target this
expression. Additional drill targets to the north and south utilizing airborne
magnetic and conductivity signatures with coincident soil geochemistry are
currently being detailed as target areas.
Analytical Details and QAQC
QAQC: Blank material, standard grade base metal and precious metal standards,
and high grade standards were routinely introduced into the sample chain of
custody for analysis. Statistical analysis of the QAQC data was completed for
Au, Pb, Zn and Ag and the results are consistent with all analytic procedures
completed by Acme Analytical Labs Ltd. being within acceptable parameters.
Geological exploration contracting services on the Iron Range property during
2011 are being provided by TerraLogic Exploration of Cranbrook, B.C. (a
wholly-owned subsidiary of Eagle Plains). Diamond drilling is being carried out
by F.B. Drilling of Cranbrook, B.C. All fieldwork is under the supervision of
geologist J.K. Ryley while C.C. Downie, P.Geo. is hereby identified as the
overall project supervisor. Technical aspects of this news release have been
reviewed and approved by T.J. Termuende, P.Geo., hereby designated as a
qualified person under National Instrument 43-101.
Iron Range Project Summary
The Iron Range deposits were originally staked in 1897, and were covered by
Crown Grants held by Cominco Ltd. and the Canadian Pacific Railway. Eagle Plains
staked the current claims immediately after the Crown Grants reverted in 2000,
and have been exploring the property since then. Exploration work to date
includes geological mapping, geochemical surveys, diamond drilling and a
690-line-kilometre airborne geophysical survey. The Iron Range project is owned
100 per cent by Eagle Plains and holds no underlying royalties or encumbrances.
An additional 35,800 hectares of claims were added to the existing land package,
resulting in a total of 56,200 ha -- an area approximately 11 km by 50 km. The
land package now covers over 30 km of the Iron Range structure, most of it
unexplored. The claims also overlie rocks of the Aldridge Formation, including
the same stratigraphic time horizon which hosts the world-class Sullivan deposit
located 70km to the northeast. Over its 100 year lifetime, Sullivan produced
approximately 150,000,000 tonnes of ore including 300,000,000 ounces of silver,
8,000,000 tonnes of zinc and 8,000,000 tonnes of lead, collectively worth over
$30 billion at current metal prices. The parties caution that past results or
discoveries on proximate land are not necessarily indicative of the results that
may be achieved on the Iron Range property.
Providence Option Agreement
The Iron Range project is owned 100% by Eagle Plains and holds no underlying
royalties or encumbrances. Providence holds the option to earn a 60% interest in
the Property by spending $3,000,000 on exploration, making $500,000 in cash
payments and issuing 1,000,000 shares to EPL over 4 years.
About Providence Resources Corp
Providence Resources 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.
Vince Sorace
President, Provience Resources Corp.
For further information, please email info@providenceresources.ca
or visit our website at www.providenceresources.ca
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. This news release
may contain forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and conditions
and therefore, involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.
SOURCE: Eagle Plains Resources Ltd.
CONTACT:
Eagle Plains Resources
Michael Labach
www.eagleplains.com
1-866-486-8673
Wed. March 16, 2011- News for 'EPL.V/EGPLF' - Aben Resources Ltd.: Shares Issued for Rusty Springs Silver
Project, Yukon
VANCOUVER, BRITISH COLUMBIA, Mar 16, 2011 (Marketwire via COMTEX) -- Aben
Resources Ltd. (TSX VENTURE:ABN) (FRANKFURT:E2L) (the "Company") announces that,
further to its news release dated February 22, 2011, the Company has issued a
total of 250,000 common shares and paid the sum of $25,000 to Eagle Plains
Resources Ltd.
Aben's Yukon Property Claims Map:
http://www.abenresources.com/i/maps/ABN_Property_Location.jpg
Aben Resources has been granted the option to earn a 100% interest in the 1,100
hectare Rusty Springs silver-lead-zinc property by making $500,000 in cash
payments and issuing 1,500,000 common shares to Eagle Plains over 5 years. The
property is subject to a three percent (3%) net smelter return royalty ("NSR")
in favour of Eagle Plains. The Company has been granted a right to purchase a 2%
NSR at any time prior to the commencement of commercial production for the
consideration of $2,000,000. The common shares will be subject to a four month
restriction on re-sale expiring July 15, 2011.
The mineralization on the Rusty Springs property, located north of Dawson City,
Yukon, has been defined over a 6 square kilometre area. Drilling highlights from
the property include hole 77-08 (drilled in 1977) which was reported to have
returned 1,140 g/t Ag (33.27 oz/t silver), 4.72% lead and 2.30% copper over 37.5
metres (123 feet) from surface to a depth of 37.5 metres. Hole 95-07 (drilled in
1995) was located 1.5 kilometres from hole 77-08 and tested the same
stratigraphic interval, returning 517 g/t Ag (15.1 oz/t silver), 3.0% copper and
1.3% zinc over 15.3 metres from 28.6 metres to 43.9 metres below surface.
About Aben Resources:
Aben Resources is a Canadian gold and silver exploration company developing
properties in the Yukon and Northwest Territories, Canada. The Company is well
funded with approx. $3 million in its treasury.
For further information on Aben Resources Ltd. (TSX VENTURE:ABN), visit our
Company's web site at www.abenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
JAMES G. PETTIT, President
SOURCE: Aben Resources Ltd.
CONTACT: Aben Resources Ltd.
James G. Pettit
President
604-687-3376 or Toll Free: 800-567-8181
604-687-3119(FAX)
Aben Resources Ltd.
Don Myers
Corporate Communications
604-687-3376 or Toll Free: 800-567-8181
604-687-3119(FAX)
info@abenresources.com
www.abenresources.com
Tuesday, March 8, 2011 - 'EPL.V/EGPLF' - Eagle Plains and MMG Announce Letter of Intent on the Findlay
Property
CRANBROOK, British Columbia, Mar 08, 2011 (BUSINESS WIRE) -- Eagle Plains
Resources Ltd. (EPL:TSX-V) is pleased to announce that a letter of intent has
been executed with Minerals and Metals Group ("MMG") whereby Eagle Plains has
agreed to grant an option to MMG to earn a 60-per-cent interest in Eagle Plains'
100-per-cent-owned Findlay/Greenland Creek properties (the "Project"), located
30 kilometers north of Kimberley, in south-eastern B.C.. Under terms of the
proposed agreement, MMG may earn a 60% interest in the 33,500 ha property by
making staged cash payments to EPL totalling $500,000 and completing $5,000,000
in exploration expenditures over 5 years. MMG may earn an additional 15%
interest (for a total of 75%) by delivering a bankable feasibility study by
2021.
The Findlay Project overlies Aldridge Formation stratigraphy, considered
prospective for sedimentary-exhalative ("sedex") deposits. Structurally, this
area has been identified as an extension of the North Star-Sullivan corridor
which hosts the world class Sullivan deposit 30km to the south. The Findlay
property displays Sullivan-style exhalative tourmalinite (boron) horizons,
massive fragmental sections, anomalous lead, zinc, and indicator geochemistry,
and base metal occurrences. This "Sullivan smoke" occurs throughout the Lower to
Upper Aldridge formation and indicates the potential for Sullivan style
mineralization at multiple stratigraphic levels. Fieldwork by Eagle Plains has
identified a number of target including :
-- North Findlay: 100 meter thick multi kilometer scale mineralized /
tourmalinized exhalative horizon related to hydrothermal venting within the
Upper Aldridge stratigraphic interval.
-- Greenland Creek: Diamond drilling by Eagle Plains in 1997 intersected
numerous thin stratabound sulphide bands associated with albite / garnet /
chlorite alteration, some of which display continuity over 60m, and are open
down-dip and along strike. Dating indicates Sullivan age for Pb mineralization
in the Greenland Creek area.
-- Mid-Fork: Evidence for deep-seated structures including arched gabbros and
thickened, mineralized fragmental sequences at or near "Sullivan time".
The property also includes the historic Silver Key Mine, which produced 31 tons
of selected ore averaging 3431 g/t silver from structurally-controlled narrow
quartz veins within the Lower Aldridge Formation. (B.C. Minfile).
Property scale mapping by Cominco Ltd. and Eagle Plains has established
excellent Aldridge marker control and many of the drill targets developed are
within the 500 -- 1000m range, considered to be shallow for Sullivan type
targets in the Purcell Basin.
Project History
The Findlay property has been explored sporadically since the 1930's.Government
assessment reports show exploration programs by Cominco (1959-69, 1977,
1984-1988), Texas Gulf Sulphur (1971), Kerr-Addison Mines (1971-1975), Amax
(1977-79), Four Tops Mining (1982-1985), Billiton Canada (1983-1984) and Teck
Corp.(1990). Commodities sought were skarn related tungsten from Cretaceous
intrusions and base and precious metals from SEDEX style deposition. Eagle
Plains Resources began acquiring claims in the Findlay - Doctor - Greenland
Creek area in 1996.
Between 1997 and 2000, parts of the current Findlay property were under option
to Kennecott Canada Ltd. Billiton Canada Ltd. and Rio Algom Ltd. Work by these
groups as well as extensive work funded exclusively by Eagle Plains included
property scale geological and structural mapping, soil geochemical sampling,
prospecting and limited diamond drilling. Total expenditures on the property
since 1996 are in the order of $ 4 million.
About MMG
Mineral Metals Group (MMG) is part of the Minmetals Resources Limited group of
companies (HKEx: 1208); MMG is the third largest zinc producer in the world and
operates a portfolio of world-class base metal mining operations, development
projects and exploration projects. Operating mines include the Century mine in
Queensland, Australia's largest open pit zinc mine; the Golden Grove underground
mine in Western Australia and the Rosebery underground mine in Tasmania, both of
which produce zinc, copper, lead and precious metals; and the Sepon gold and
copper operations in Lao. Development projects include the Dugald River zinc,
lead and silver deposit in north western Queensland. In Canada, MMG is focussed
on development of the Izok Lake polymetallic deposit in Nunavut, as well as
systematic exploration in the area of the High Lake and Izok Lake projects.
Target commodities include copper, zinc-lead and nickel.
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 Aben Resources Ltd. (TSX-V:ABN), 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., Blackrock Resources Ltd. (a private B.C. company); Heemskirk
Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW), Active Growth Capital
(TSX-V:ACK) and Giyani Gold 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 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
Wednesday, Feb. 23, 2011 - News for 'EPL.V/EGPLF' - Eagle Plains/Rosedale Enter Into Option Agreement on Rohan
Copper-Gold Project, NW British Columbia
Cranbrook, British Columbia CANADA, Feb 23, 2011 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF -
OTCBB_Pink_Sheets), and Rosedale Resources Ltd. (a private B.C. company) have
entered into an agreement whereby Rosedale may earn an interest in the Rohan
copper-gold property, located in northwestern British Columbia. Under terms of
the agreement, Rosedale has the option to earn a 60% interest in the 3,000 ha
property by completing $5M in exploration expenditures, making $500,000 in cash
payments and issuing 1.0M common shares to Eagle Plains over 5 years.Eagle
Plains will maintain a 4% Gross Metal Royalty on the claims, which may be
reduced to 2% upon payment of $2M.
The Rohan property is located immediately south of the Yukon border, 80
kilometres south of White Horse, YK, and 80 kilometres northwest of Atlin
BC.Logistically, the property is well situated along the White Pass rail line,
60 kilometres north of the port of Skagway, Alaska, with easy boat access to the
property from Carcross, Yukon.
The project area covers a 6 kilometre span of the prospective Llewellyn/Tally-Ho
shear zone, part of a larger (>150 kilometre long) crustal-scale fault system,
host to numerous gold, silver and base metal properties.The land package covers
several regional stream-silt (RGS) anomalies that includes better than 95th
percentile values for gold, copper, antimony, arsenic and lead.The presence of
on-strike gold-bearing showings to the north and south gives the underexplored
property good potential for precious metal discoveries.
Rosedale and Eagle Plains intend to carry out an airborne geophysical survey
followed up by silt-sampling and prospecting to define specific target areas for
future work.
Update on Wildhorse Project
Eagle Plains has recently received notice from Excelsior Mining Corp that
Excelsior is terminating its option on the Wildhorse gold-copper property
located in southeastern BC.
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 Aben Resources Ltd. (TSX-V:ABN), 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., Rosedale Resources Ltd. (a private B.C. company);Blackrock
Resources Ltd. (a private B.C. company); Heemskirk Canada Ltd., Touchdown
Capital Inc. (TSX-V: TDW), Active Growth Capital (TSX-V:ACK) and Giyani Gold
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,
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact
Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com
Tues., Feb 22, 2011 -News for 'EPL.V/EGPLF' - Aben Resources Options Rusty Springs Silver Project, Yukon
VANCOUVER, BRITISH COLUMBIA, Feb 22, 2011 (Marketwire via COMTEX) -- Aben
Resources Ltd. (TSX VENTURE:ABN) (FRANKFURT:E2L) (the "Company") (formerly
Consolidated Abaddon Resources Inc.) announces that it has entered into an
Agreement with Eagle Plains Resources Ltd. (TSX VENTURE:EPL) whereby Aben may
earn a 100% interest in the Rusty Springs Property, located north of Dawson
City, Yukon.
The Rusty Springs property hosts silver-lead-zinc mineralization associated with
a 25-40 metre thick replacement horizon within carbonate rocks. Some 35 showings
are present within the property area and consist of both high-grade vein
occurrences and lower-grade replacement mineralization. The mineralization on
the property has been defined over a 6 square kilometre area. Drilling
highlights from the property include hole 77-08 (drilled in 1977) which was
reported to have returned 1,140 g/t (33.27 oz/t) silver, 4.72 % lead and 2.30 %
copper over 37.5 metres (123 feet) from surface to a depth of 37.5 metres. Hole
95-07 (drilled in 1995) was located 1.5 kilometres from hole 77-08 and tested
the same stratigraphic interval, returning 517 g/t (15.1 oz/t) silver, 3.0%
copper and 1.3% zinc over 15.3 metres from 28.6 metres to 43.9 metres below
surface.
Under the terms of the agreement, Aben has the option to earn a 100% interest in
the 1,100 hectare Rusty Springs property by making $500,000 in cash payments and
issuing 1,500,000 common shares to Eagle Plains over 5 years. The property 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 the commencement of commercial production for the
consideration of $2,000,000.
In other news, further to its news release dated February 1, 2011, Aben
Resources has issued a total of 5,000,000 common shares to Eagle Plains
Resources. Aben has acquired from Eagle Plains a 100% interest, subject to a 3%
net smelter return royalty, in two non-contiguous, highly prospective mineral
exploration properties known as the Justin (Sprogge) and Hit gold projects which
cover approximately 2,130 hectares in the Yukon. The common shares will be
subject to a four month restriction on re-sale expiring June 10, 2011.
About Aben Resources:
Aben Resources is a Canadian gold, silver, rare earth and uranium exploration
company developing properties in the Yukon, northern Ontario and northern
Saskatchewan. The Company is well funded with approx. $3 million in its
treasury.
For further information on Aben Resources Ltd. (TSX VENTURE:ABN), visit our
Company's web site at www.abenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
James G. Pettit, President
SOURCE: Aben Resources Ltd.
CONTACT: Aben Resources Ltd.
James G. Pettit
President
604-687-3119(FAX)
Aben Resources Ltd.
Don Myers
Director
604-687-3376 or Toll Free: 800-567-8181
604-687-3119(FAX)
info@abenresources.com
www.abenresources.com
Tuesday, Feb 15, 2011 News for 'EPL.V/EGPLF.PK' - Eagle Plains/Providence Add Second Drill Rig to Iron Range
Project and Provide Update on Current Drill Program
Cranbrook, British Columbia CANADA, Feb 15, 2011 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF -
OTCBB_Pink_Sheets), and ProvidenceResources Corp. (TSX-V:PV)have completed 5
additional diamond drill holes since the re-commencement of drilling on the Iron
Range project in January 2011,for a total of 15 drill holes and 7,165m (23,500')
of drilling to date. The 2011 holes (IR11-011 to 015), have been systematically
testing the Talon Zone in which significant gold and base-metal mineralization
was reported in Hole IR10-010 by Eagle Plains/Providence (see news release Dec
21, 2010). All 5 holes completed during the 2011 program have intersected base
metal and gold-related mineralization.
Highlights from Hole IR10-010 included 14.0m grading 5.1g/t gold and 75.3g/t
silver from 192.0 to 206.0m and 8.5m grading 6.0g/t gold and 47.8g/t silver from
272.0 to 280.5m.Accompanying base metal values include 13.24% combined lead-zinc
over 1.6m from 196.9-198.5m, and 9.24% combined lead-zinc over 2.0m from
277.5-279.5m, the latter of which is interpreted to lie at Sullivan Time.
A total of 450m of new road has been constructed and a second drill will
commence work immediately.The budget for the winter 2011 program is currently
$1.6M, and is planned to consist of 12-16 holes for a estimated 5,000m (16,000')
of drilling. The receipt of permits and construction of new roads will give the
partners the ability to utilize step-out drill pad locations, and if warranted,
work towards definition of an inferred resource. Additional staff have been
added to the project to assist in core-logging and sampling operations.
Analytical results will be forthcoming as they are received, compiled and
interpreted.
Additional drill targets within a 2.5km radius will continue to test structural
features and geochemical signatures for Sullivan-style SEDEX and precious metal
mineralization.
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 on the Iron Range property 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 Resources
Providence Resources 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 Aben Resources Ltd. (TSX-V:ABN), Excelsior
Mining Corp (TSX:MIN.P), Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals
and Energy Ltd. (TSX-V:SND), Providence Resources Corp., Waterloo Resources Ltd.
(TSX-V:WAT.P), Windstorm Resources Inc., Blackrock Resources Ltd. (a private
B.C. company); Heemskirk Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW),
Active Growth Capital (TSX-V:ACK) and Giyani Gold 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. http://www.usetdas.com
URL: http://www.useTDAS.com
Copyright (c) 2006 Filing Services Canada Inc.
Not sure what your point is. EPL.V is Tim's company symbol. I have been an investor in them for more than 6 years, perhaps 8 years. I am the one that first created and posted the Copper Canyon Resour (CAYRF) board that you now moderate also.
I created the CAYRF.PK board because I could not locate one at iHub at the time. And yes, I am invested in that one also, but cautiously because of the NovaGold take-over offer. I sold the majority of shares and now just have a minor position. I really don't like their offer at all.
I am also one of the original investors in Nova Gold, back more than 7-9 years ago. It could have been longer, I can't remember any more, they were a penny stock at the time.
Back to your point of changing the symbol to the US pink symbol. I can't see any reason to change it to the pink US listing.
btrain, please change the symbol to EGPLF -
fyi. -
http://www.otcmarkets.com/stock/EGPLF/quote
- it gives all in US to trade buy and sell Eagle Plain -
on the home market -
I have been the moderator for
Eagle Plains Resources Ltd. (TSX:EPL) a long time -
http://investorshub.advfn.com/boards/board.aspx?board_id=11341
welcome over and you know that ex. a N/R you are
welcome to post it on two boards so
if you see it before me welcome to (TSX:EPL) -
TIA
btw.
IHub don't want two forums with the
same trading symbol often the mod delete one
without notice!
OT. note -
are you in the Eagle's sister comp.? -
http://investorshub.advfn.com/boards/board.aspx?board_id=11317
http://investorshub.advfn.com/boards/board.aspx?board_id=18365
Feb. 1, 2011 News - News for 'EPL.V/EGPLF.PK' - (Eagle Plains Enters into Agreement with Aben Resources on Two
Yukon Properties and Northwest Territories Permits)
CRANBROOK, British Columbia, Feb 01, 2011 (BUSINESS WIRE) -- Eagle Plains
Resources Ltd. (EPL:TSX-V) and Aben Resources Ltd. (TSX-V:ABN) (formerly
Consolidated Abaddon Resources Inc.) have entered into an Acquisition Agreement
whereby Aben will acquire a 100% interest in two non-contiguous mineral
exploration properties known as the Hit and Justin (Sprogge) projects, covering
approximately 2,130 hectares located in the eastern Yukon Territory (the "Yukon
Claims").
Pursuant to the terms of the Acquisition Agreement, Aben Resources has also
acquired a proprietary database owned by Eagle Plains and the right to certain
potential prospecting permits in the Mackenzie Mountain area of the Northwest
Territories (the "Permits"). The Permits are subject to an approval process and,
if approved, Aben will be granted the exclusive right to stake claims in the
Permit areas for up to a period of three years.
Upon receipt of acceptance of the Acquisition Agreement by the TSX Venture
Exchange, Aben Resources will issue a total of 5,000,000 common shares to Eagle
Plains. Aben will also make a cash payment of approximately $150,000 to
reimburse Eagle Plains for the Northwest Territories permitting costs. The
approximately $150,000 will be paid upon receipt of confirmation that the
Permits have been granted and duly registered in the name of Aben Resources.
The Yukon Claims and any property to be acquired by staking in the Permit areas
shall be subject to a three percent (3%) net smelter return royalty ("NSR") in
favour of Eagle Plains. Aben Resources has been granted a right to purchase a 2%
NSR at any time prior to commencement of commercial production for the
consideration of $2,000,000 (the "Buy Down Option").
The Justin (Sprogge) Gold Property
The Justin (Sprogge) gold property is located in east-central Yukon Territory
about 35 kilometres south of the recently re-opened Cantung Mine. The property
consists of 25 claims and is host to numerous styles of intrusive and
sediment-hosted gold mineralization located within three main bulk-tonnage
target areas. The drill-ready property has the potential to host both high-grade
and bulk-tonnage gold mineralization. Historical grab samples from the property
reported up to 59.25 g/t Au, in addition to historical chip samples returning an
average of 2.38 g/t Au over 22.5 metres. Numerous targets on the property remain
to be tested with further exploration planned, including trenching and diamond
drilling.
The Hit Gold Property
The Hit gold property is located in central Yukon Territory, 27 kilometres
north-northeast of MacMillan Pass. The project targets skarn/replacement gold
mineralization associated with Tombstone-Suite intrusives and surrounding
carbonate-rich sediments. Property highlights include intrusive-related gold
mineralization which returned an average of 7.85 g/t Au over 7.0 metres in
trenches.
The above transactions are subject to the acceptance of the TSX Venture
Exchange.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects
throughout western Canada. In addition to holding mining royalties on various
projects, Eagle Plains controls over 35 gold, base-metal and uranium projects,
several with third parties including Excelsior Mining Corp (TSX:MIN.P),
Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd.
(TSX-V:SND), Providence Capital Corp., Waterloo Resources Ltd. (TSX-V:WAT.P),
Windstorm Resources Inc., 0802906BC Ltd. (a private B.C. company); Heemskirk
Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW), Active Growth Capital
(TSX-V:ACK) and 99 Capital Corp. (TSX-V:WDG). In recent years, Eagle Plains has
completed option agreements with Teck Limited (TSX:TCK.B), Alexco Resource Corp.
(TSX-V:AXR), Billiton Metals, Rio Algom Exploration, NovaGold Resources,
Kennecott Exploration and numerous other junior exploration companies, resulting
in over 57,100m (187,288') of drilling and over $31.5 million in exploration
spending on its projects since 1998.
Expenditures during 2010 on Eagle Plains' projects were approximately
$3,240,000, funded by Eagle Plains and third party partners. This work resulted
in approximately 3,580m of drilling and extensive ground-based exploration work
and facilitated the advancement of numerous projects at various stages of
development.
Signed,
"Tim J. Termuende" President and CEO
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. This news release
may contain forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and conditions
and therefore, involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.
SOURCE: Eagle Plains Resources Ltd.
CONTACT:
Eagle Plains Resources Ltd.
Mike Labach, 1-866-HUNT-ORE (486-8673)
mgl@eagleplains.com
http://www.eagleplains.com
Jan 19 News for 'EPL.V/EGPLF' - (Providence Capital Announces Strategic Investment)
VANCOUVER, BRITISH COLUMBIA, Jan 19, 2011 (MARKETWIRE via COMTEX) -- Providence
Capital Corp. (TSX VENTURE: PV) ("Providence" or the "Company") wishes to
announce that it has arranged a non-brokered private placement of 1,000,000
shares at a price of $4.00 per share with Teck Resources Limited ("Teck") for
total proceeds of $4,000,000.
The proceeds from this strategic investment will facilitate a more aggressive
work program on the Iron Range Project, under which Providence holds the option
to earn a 60 percent interest from Eagle Plains Resources Ltd. ("Eagle Plains").
In addition, Teck will provide access to additional technical support and
organizational expertise. As the owner and operator of the historic Sullivan
Mine, Teck brings a wealth of geological experience invaluable to the Iron Range
Project.
Providence and Eagle Plains continue to test structural features and the
stratigraphic interval known to host the Sullivan deposit, located 70km to the
north. Current drilling is targeting both precious metal and base metal
mineralization, following up on the recent program which intersected two
intervals of gold-bearing massive sulphide mineralization, the lower interval
which resides at a stratigraphic position interpreted to be at or near the same
interval which hosts the Sullivan deposit (see PV/EPL news release December
21st, 2010).
"With the combination of Teck's historic knowledge and experience within the
surrounding area and the skilled geological personnel of our partner Eagle
Plains, we have a world class exploration and development team that will now be
well funded throughout 2011," stated Steve Bajic, President of Providence.
An additional term of Teck's investment in Providence provides Teck an option to
increase its interest in the Company to 9.9% by completing an additional private
placement. This option may be triggered as follows:
Providence may provide notice to Teck at any time after at the later of (i)
three months after the closing of the current private placement; or (ii) after
Providence incurs additional expenditures of $1,600,000 on the Iron Range
project, at which point Teck may elect to exercise the option or let it expire.
The pricing of the additional placement in the Company will be at a price per
share equal to a 40% premium to a 10 day trading average; or (ii) a 10% to 40%
premium (based on certain conditions) to the price of any coinciding third party
financing announced by Providence at the time of the notice.
Should the Company not provide Teck notice as outlined above prior to the later
of (i) nine months after the closing of the current private placement; or (ii)
upon Providence incurring an aggregate of $3,400,000 in additional expenditures
on the Iron Range project, Teck may elect to increase its interest in the
Company to 9.9% at a price per share equal to a 40% premium to a 5 day trading
average. If Teck fails to exercise this right, the option to increase its
interest to 9.9% expires.
Teck also has the right to maintain its percentage ownership in the Company by
participating in future financings during a two year period provided that it
holds at least a 3% shareholding in the Company. Teck has also been granted a
right of first offer on the Iron Range project should the Company wish to sell
its interest in the project during the same period.
Tim J Termuende, President and CEO of Eagle Plains, stated recently, "We welcome
the participation of Teck to this exciting project. The confidence shown by
Teck's current involvement coupled with its considerable financial and technical
capabilities can only serve to significantly benefit the project as it moves
forward."
Providence will also establish a Technical Advisory Committee which will include
personnel from Teck, Eagle Plains and Terralogic Exploration Services to serve
as a forum through which all parties can engage and review work programs,
budgets, and results.
Providence holds the option to earn a 60 percent interest in the Iron Range
Property by spending $3-million on exploration, making $500,000 in cash payments
and issuing one million shares to EPL over four years. Approximately $700,000
has been spent to date as contemplated by the Joint Venture Agreement with Eagle
Plains Resources.
In connection with the private placement and subject to regulatory approval, the
Company may pay finder's fees in cash or securities to eligible finders in
accordance with the policies of the TSX Venture Exchange. All securities will be
subject to a four month hold period.
Iron Range project summary
The Iron Range deposits were originally staked in 1897, and were covered by
Crown Grants held by Cominco Ltd. and the Canadian Pacific Railway. Eagle Plains
staked the current claims immediately after the Crown Grants reverted in 2000,
and have been exploring the property since then. Exploration work to date
includes geological mapping, geochemical surveys, diamond drilling and a
690-line-kilometre airborne geophysical survey. The Iron Range project is owned
100 per cent by Eagle Plains and holds no underlying royalties or encumbrances.
An additional 35,800 hectares of claims were added to the existing land package,
resulting in a total of 56,200 ha -- an area approximately 11 km by 50 km. The
land package now covers over 30 km of the Iron Range structure, most of it
unexplored.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Contacts:
Providence Capital Corp.
Steve Bajic
President
(604) 628-5614
(604) 662-7950 (FAX)
www.providencecapital.ca
SOURCE: Providence Capital Corp.
CONTACT: http://www.providencecapital.ca
News Jan. 6, 2010 - News for EPL.V/EGPLF.PK - (Eagle Plains Provides Analytical Results from Reverse
Circulation Drill Program at Yellowjacket Project, Northwestern BC)
Cranbrook, British Columbia CANADA, Jan 06, 2011 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF -
OTCBB_Pink_Sheets), has received complete analytical results for the 2010
reverse circulation drill program at the Yellowjacket project. In the fall of
2010, Eagle Plains conducted a 64-hole drill program at the Yellowjacket
property using a reverse circulation ("RC") drill rig.A total of 2181meters in
64 holes was completed over a 30 day period. The drilling consisted of a series
of shallow, closely spaced angle holes designed to delineate mineralization and
structural controls and to test an area designated for the next open pit mining
phase.
RC Drill Highlights:
* L100E-60B:
* 10.19-16.28m : 6.09m @ 26.8 g/t Au
* Including 13.23-15.27m: 2.04m @ 78.71g/t Au
* Also Including 14.25-15.27m: 1.02m @ 138.26g/t Au
* L077E-48A:
* 27.68-38.85m : 11.17m @ 5.83g/t Au
* Including 27.68-29.71m: 2.03m @ 6.02g/t Au
* Also Including 27.68-28.69m: 1.01m @ 10.53g/t Au
* Including 36.82-38.85m: 2.03m @ 25.12g/t Au
* Also Including 37.84-38.85m: 1.01m @ 46.63g/t Au
* L076E-18A:
* 8.07-16.81m : 8.74m @ 7.73 g/t Au
* Including 12.75-14.78m: 2.03m @ 30.48g/t Au
*intervals interpreted to approximate true thickness
Detailed Description of Drilling
The 2010 drill program targeted an area directly east of the 2009 pit extension.
The tight-spaced drill grid was designed to test the projected pit to a bedrock
depth of 25 meters. The data from the program will be used to build geologic
models for pit design and grade control. The area of the Pine Creek fault zone
that was drilled defined a wedge-shaped package of volcanics (andesites and
lamprophyres) sandwiched within carbonate-altered ultramafics, and bounded below
by a major fault zone.
Two main gold bearing zones were identified. Gold mineralization is associated
with quartz stockwork and intense Fe-carbonate alteration within the ultramafic
rocks and within quartz-stockwork associated with silicified and pyritic
volcanic rocks.
Chuck Downie, P.Geo VP Exploration states that "we are encouraged by the
presence of two relatively continuous, near surface mineralized gold zones
within the area of the next pit. The tight-spaced drilling will give us a very
detailed geologic model which will greatly enhance the effectiveness of grade
control during our mining operation".
-------------------------------------------------------------------------
Table of Selected 2010 Drill Results
-------------------------------------------------------------------------
HoleOrderFrom_MTo_MIntersection
Number
-------------------------------------------------------------------------
L064E-42A 25.64 28.693.05m at 21.24g/t Au
-------------------------------------------------------------------------
L064E-42A Including 26.66 27.681.02m at 48.21g/t Au
-------------------------------------------------------------------------
L066E-24A 21.38 24.423.04m at 10.39g/t Au
-------------------------------------------------------------------------
33.57 34.58 1.01m at 5.69g/t Au
-------------------------------------------------------------------------
L070E-24A 25.64 26.66 1.02m at 7.44g/t Au
-------------------------------------------------------------------------
L070E-30A 20.8729 8.13m at 4.91g/t Au
-------------------------------------------------------------------------
Including 27.9829 1.02m at 31.4g/t Au
-------------------------------------------------------------------------
L073E-54A 31.3932.4 1.01m at 3.33g/t Au
-------------------------------------------------------------------------
L076E-18A8.07 16.81 8.74m at 7.73g/t Au
-------------------------------------------------------------------------
Including 12.75 14.782.03m at 30.48g/t Au
-------------------------------------------------------------------------
L076E-24A 18.84 20.87 2.03m at 5.79g/t Au
-------------------------------------------------------------------------
L076E-54A 41.69 42.71 1.02m at 5.22g/t Au
-------------------------------------------------------------------------
L077E-42A 33.63 36.67 3.04m at 3.74g/t Au
-------------------------------------------------------------------------
L077E-48A 27.68 38.8511.17m at 5.83g/t Au
-------------------------------------------------------------------------
Including 27.68 29.71 2.03m at 6.02g/t Au
-------------------------------------------------------------------------
Also Including 27.68 28.691.01m at 10.53g/t Au
-------------------------------------------------------------------------
Including 36.82 38.852.03m at 25.12g/t Au
-------------------------------------------------------------------------
Also Including 37.84 38.851.01m at 46.63g/t Au
-------------------------------------------------------------------------
L082E-30A 20.42 21.441.02m at 10.26g/t Au
-------------------------------------------------------------------------
L082E-36A 23.26 25.292.03m at 4.2g/t Au
-------------------------------------------------------------------------
L088E-18A 12.23 13.25 1.02m at 3.22g/t Au
-------------------------------------------------------------------------
L088E-30A 18.79 19.81 1.02m at 3.01g/t Au
-------------------------------------------------------------------------
L088E-42A 22.29 23.31 1.02m at 6.58g/t Au
-------------------------------------------------------------------------
L088E-64A 8.19.11 1.01m at 3.48g/t Au
-------------------------------------------------------------------------
30.45 31.46 1.01m at 2.89g/t Au
-------------------------------------------------------------------------
L088E-64B5.92 13.03 7.11m at 2.25g/t Au
-------------------------------------------------------------------------
Including6.937.95 1.02m at 8.42g/t Au
-------------------------------------------------------------------------
L094E-24A 12.29 13.31 1.02m at 3.25g/t Au
-------------------------------------------------------------------------
L094E-30A 14.53 15.54 1.01m at 9.45g/t Au
-------------------------------------------------------------------------
L094E-36A 10.1911.2 1.01m at 11.8g/t Au
-------------------------------------------------------------------------
L100E-24A8.33 10.362.03m at 12.11g/t Au
-------------------------------------------------------------------------
L100E-48A 17.63 22.71 5.08m at 3.05g/t Au
-------------------------------------------------------------------------
Including 18.64 19.66 1.02m at 7.74g/t Au
-------------------------------------------------------------------------
L100E-60B 10.19 16.28 6.09m at 26.8g/t Au
-------------------------------------------------------------------------
Including 13.23 15.272.04m at 78.71g/t Au
-------------------------------------------------------------------------
Also Including 14.25 15.27 1.02m at 138.26g/t Au
-------------------------------------------------------------------------
L106E-56A 11.14 12.161.02m at 8.8g/t Au
-------------------------------------------------------------------------
The drilling was oriented perpendicular to the known structural trends and it is
believed that most of the drill intercepts represent true widths of the
mineralized zones.
A detailed history of the project, including complete 2010 drill results and
locations, and a photo-gallery may be found at
http://www.eagleplains.com/projects/bc/yellowjacket/index.asp
Analytical Details and QAQC
Sampling started at the surface with the overlying placer material and the
bedrock / placer interface sampled separately from the bedrock. Bedrock cuttings
were sampled continuously over 1.016m intervals.In total, 1590 bedrock samples
and 171 placer material samples were sent to Stewart Group of Kamloops, BC, an
ISO17025 accredited analytical facility,for Au-4 500g Screen Metallic Assay.
QAQC: External QAQC samples, consisting of blanks, Au standards, and sample
duplicates, were routinely introduced into the sample chain of custody. A total
of 188 check samples were also sent to ALS-Chemex of Vancouver, BC for check
analysis via 500g Screen Metallic Assay. Statistical analysis of the QAQC and
check data for Au data was completed and the results are consistent with all
analytic procedures completed by Stuart Group being well within acceptable
parameters.
Geological exploration contracting services on the Yellowjacket property during
2010 were provided by TerraLogic Exploration of Cranbrook, B.C., (a wholly-owned
subsidiary of Eagle Plains), Merlin Geosciences Inc. of Atlin, BC and the Atlin
Tlingit Development Corporation. Reverse circulation drilling was contracted to
Northspan Exploration of Kelowna, B.C.
Overall project supervision was done by C.C. Downie, P.Geo., hereby designated
as a qualified person under National Instrument 43-101 and who also reviewed and
approved technical aspects of this news release.
Yellowjacket Project Summary
The Yellowjacket Project is located 9 km east of Atlin, BC and is accessed by
all-season road. Hydro-electric power is located within 5km of property
boundaries. The project received a B.C. Mines Act permit in July, 2009 for an
open pit gold mine and onsite 400 ton per day mill and concentrator, processing
up to 75,000 tons per year. The Permit contemplates a 7-9 year mine life from a
series of open pits entirely within an area of disturbed placer workings. Since
the recent completion of the buy-out from Prize, Eagle Plains owns a 100%
interest in both mineral (hard-rock) and placer rights within the project area.
(see EPL news release August 19th, 2010). In October 2009, Eagle Plains and
Prize announced the formal ratification of an Impact and Benefits Agreement with
the Taku River Tlingit First Nation.
The property is known to host significant gold mineralization. Gold is
erratically distributed throughout the Yellowjacket structural zone such that
accurate exploration and economic assessment of the property is challenged by a
pronounced "nugget effect".
Project History
In 1983, local area prospectors staked the area of the Yellowjacket Property and
then optioned portions of the property to Canova Resources and Tri-Pacific
Resources. During 1984 and 1985 these companies conducted programs of ground
geophysics, rotary, and diamond drilling. In 1986 Homestake Mineral Development
Company optioned the property from Canova and initiated programs of mapping,
reverse circulation drilling and diamond drilling.
In 1988, Homestake completed a ground geophysical program which consisted of 5.5
kilometres of magnetic and VLF-EM surveys. By 1988, Homestake Mining Company
outlined the Yellowjacket Zone, a mineralized area containing significant gold
intercepts over 2 kilometres by drilling 58 diamond drill holes to depths up to
183m of which gold was intercepted to 140m depth.
As a result of this work, Homestake estimated an historical resource estimate of
453,500 tonnes grading 10.26 grams per tonne gold (BC Dept Mines Open File
2000-2 page 41). (These are historical figures and do not currently comply with
NI 43-101, though they are considered by management to be relevant and form a
basis for future exploration of the Property)
Muskox Minerals Corp. (renamed Prize Mining Corporation) optioned the property
in late 2003 and began exploration in December of that same year to further
outline the extent, nature, grade and geometry of gold mineralization at the
Yellowjacket Zone. 41 holes were drilled in 2003-2004, thirteen of which
encountered coarse gold that yielded assay intercepts similar to those obtained
by Homestake. Muskox reported significant gold intersections (among others) of
up to:*
80.3 grams per tonne over 38.94 meters including 513.5 grams per tonne over
5.56 metres in drill hole YJ03-01
80.5 grams per tonne over 30.83 meters including 2397 grams per tonne over
0.91 meters in drill hole TW05-02, a twin hole to YJ03-10
40.10 grams per tonne over 6.10 metres in drill hole YJ04-07
142.40 grams per tonne over 1.0 metres in drill hole YJ04-20
156.95 grams per tonne over 0.5 metres in drill hole YJ04-22
(*press releases, November 15, 2004 and February 03, 2005)
In 2004, Canamera Geoscience Corp. under contract to Muskox conducted an
airborne geophysical survey over the Property. A total of 820 line kilometres of
airborne survey were flown by helicopter, using 50 metre spaced flight lines.
In 2005, Muskox/Prize performed a 50km magnetic survey which delineated three
zones: Yellowjacket, Rock of Ages and Gold Run. Six holes were drilled in the
Yellowjacket Zone and 1.5 kilometres to the southwest, three holes were drilled
in the Rock of Ages Zone, for a total of 895 metres.
In 2006, Muskox/Prize commenced an exploration bulk sampling program, which
included diversion of Pine Creek, overburden/placer tailings excavation,
construction of a 400 ton-per-day milling facility, bedrock mapping and channel
sampling, bedrock excavation and processing. In 2007, Prize reported production
of 6.43 kilograms (206.9 ounces) of gold produced from sluicing the
placer-bedrock interface material excavated during bulk sample excavation. In
2008, Prize processed 4200 tonnes of material. Of this material, 2880 tonnes
were considered to be taken from the main mineralized zone and returned gold
bars totaling 18.63 kilograms (599 ounces). About 800 kilograms of low grade
gold concentrates from 2008 remain and are estimated to contain approximately
1.5 kilograms (50 ounces) of gold. These gold volumes back-calculate, using a
formula that allows for smelting and processing plant recoveries, to a head
grade of approximately 9 g/t gold.
In 2009, Eagle Plains and Prize contracted Barry Price, P.Geo. and Linda Dandy,
P.Geo. to complete a 43-101 compliant technical report which summarize
development of the property to date. The report identifies that "Based on the
results of the exploration and development conducted to date on the Property,
the authors conclude that the Yellowjacket Gold Zone represents a legitimate
development target with the potential to host an economically feasible mineral
deposit. Such potential is not quantifiable and can only be verified by
additional exploration and development work."
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects
throughout western Canada. In addition to holding mining royalties on various
projects, Eagle Plains controls over 35 gold, base-metal and uranium projects,
several with third parties including Excelsior Mining Corp (TSX:MIN.P), Drexel
Capital Corp (TSX-V:DX.P), Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm
Metals and Energy Ltd. (TSX-V:SND), Providence Capital Corp., Waterloo Resources
Ltd. (TSX-V:WAT.P), Windstorm Resources Inc., 0802906BC Ltd. (a private B.C.
company); Heemskirk Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW), Active
Growth Capital (TSX-V:ACK) and 99 Capital Corp. (TSX-V:WDG). In recent years,
Eagle Plains has completed option agreements with Teck Limited (TSX:TCK.B),
Alexco Resource Corp. (TSX-V:AXR), Billiton Metals, Rio Algom Exploration,
NovaGold Resources, Kennecott Exploration and numerous other junior exploration
companies, resulting in over 53,600m (163,370') of drilling and over $28.3
million in exploration spending on its projects since 1998.
Expenditures during 2008 and 2009 on Eagle Plains' projects were approximately
$7,300,000, funded by Eagle Plains and third party partners. This work resulted
in approximately 6,900m of drilling and extensive ground-based exploration work
and facilitated the advancement of numerous projects at various stages of
development.
Signed,
"C.C. (Chuck) Downie"
VP Exploration
For further information on EPL, please contact:
Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com
or visit our website at http://www.eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. This news release
may contain forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and conditions
and therefore, involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
Maximum News Dissemination by Filing Services Canada Inc. *
www.usetdas.com
URL: http://www.useTDAS.com
DEC 21, NEWS FOR EPL.V/EGPLF.PK - Analytical Results from
Diamond Drill Program at Iron Range Project, Southeastern BC
(Eagle Plains/Providence Capital Provide Analytical Results from
Diamond Drill Program at Iron Range Project, Southeastern BC)
Cranbrook, British Columbia CANADA, Dec 21, 2010 (Filing Services Canada via
COMTEX) -- Eagle Plains Resources Ltd. (EPL - TSX Venture)(EGPLF -
OTCBB_Pink_Sheets), and Providence Capital Corp. (TSX-V:PV)have received
complete analytical results for Holes IR10-005 and IR10-010, which are
considered to contain the best mineralization observed to date of the 2010
program. Since September, the partners have completed ten diamond drill holes
for a total footage of 10,945 feet (3,337m). The partners continue to test
structural features and the stratigraphic interval known to host the Sullivan
deposit, located 70km to the north. Current work is targeting both precious
metal and base metal mineralization.
Highlights:
* Hole IR10-010 intersected two intervals of gold-bearing massive sulphide
mineralization. The lowermost zone consists of finer grained, gold-bearing
massive sulphide material at a depth of 275.5.0-279.5m (truncated by a fault)
within similar host rocks and at a stratigraphic position interpreted to be at
or near the same interval which hosts the Sullivan deposit. The structural
setting, alteration assemblages (tourmalinite, albite) and accessory minerals
encountered (cadmium, antimony, tin, bismuth, boron, copper) are also consistent
with those associated with Sullivan and other sedimentary-exhalative ("sedex")
deposits.
* Selected intervals from Hole 10 include:
* 192.0-206.0m (upper sulphide interval): 14.0m @ 5.1g/t Au, 1.86%
Pb, 2.1% Zn, 75.3g/t Ag
* Including 196.9-204.0m: 7.1m @ 8.13g/t Au, 2.84% Pb, 3.07% Zn, 86.6g/t Ag
* Also Including 196.9-198.5m: 1.6m @ 9.9g/t Au, 6.06% Pb, 7.18% Zn, 181.0g/tAg
* Also Including 201.4-204.0m: 2.6m @ 8.4g/t Au, 2.6% Pb, 2.54% Zn, 56.4g/t Ag
* 224.0-280.5m: 56.5m @ 1.9g/t Au, 0.44% Pb, 0.59% Zn, 21.5g/t Ag
* Including 240.0-245.0m: 5.0m @ 3.7g/t Au, 1.34% Pb, 0.13% Zn, 69.2g/t Ag
* Including 272.0-280.5m: 8.5m @ 6.0g/t Au, 1.45% Pb, 2.56% Zn, 47.8g/t Ag
* Also including 277.5-279.5m (lower sulphides-interpreted Sullivan time
horizon): 2.0m @ 12.8g/t Au, 4.18% Pb, 5.06% Zn, 122.5g/t Ag; elevated Cd, Sb,
Sn, Bi, B, Cu
* Holes IR10-005 and IR10-010 are located near a major transportation corridor;
with rail, road, gas and hydro-electric power situated within 3km from the drill
collar locations.
Widths of altered and mineralized intervals are apparent thicknesses only. True
thicknesses will be established with the completion of additional drilling.
Detailed Drill-hole Descriptions
IR10-005: Length: 394.72m, azimuth 260?, angle -80?. Upper 95m is altered and
brecciated quartzite, with lesser siltstone to 135m which marks the onset of
fracture hosted sulphides and strong alteration to 163m. Lesser alteration
offiner grained sediments occurs to 210m, underlain by 95m of increased
alteration and numerous veins and veinlets variably with sulphides to 305m.
Sixteen metres of mineralized breccia mark the interval to the top of the Lower
Aldridge Formation at 321m. Minor albite and tourmaline with disseminated
sulphides occur over the interval to the base of the hole at 394.7m
Complete analytical results from Hole IR10-005 have been returned, and include
the following highlights:
* 62.5-89.5m: 27.0m @ 0.644g/t Au, 0.14% Pb, 0.19% Zn, 13.0g/t Ag
* *Including 74.5-78.5m: 4.0m @ 1.488g/t Au, 0.30% Pb, 0.15% Zn, 22.5g/t Ag
* *Including 86.5-87.5m: 1.0m @ 6.05g/t Au, 0.56% Pb, 0.35% Zn, 33.9g/t Ag
* *144.0-163.0m:19.0m @ 0.841g/t Au, 8.7g/t Ag
* *Including 148.0-155.0m: 7.0m @ 1.793g/t Au, 0.3% Pb, 0.59% Zn, 15.7g/t Ag
* Including 151.0-154.0m: 3.0m @ 3.17g/t Au, 0.42% Pb, 1.11% Zn, 22.9g/t Ag
* 276.0-320.0m: 44.0m @ 0.355g/t Au
* Including 300.0-320.0m: 20.0m @ 0.543g/t Au
* Also Including 306.0-309.0m: 3.0m @ 0.951g/t Au
* Previously reported in EPL/PV news release December 1st, 2010
IR10-010: Length: 345.6m, azimuth 040?, angle-70?. Upper third is oxidized,
fractured, and intensely altered. Weak disseminated mineralization in veins
occurs to 183m, underlain by 23m of mineralized breccia and local sections of
massive sulphide to 208m.(see EPL/PV news release December 1, 2010). Mineralized
fractures, veins and brecciation of varying intensity occur over 68m to the
lower massive sulphide intercept at 275.5-279.5m, which is interpreted to lie at
Sullivan Time. Faulted section of Middle Aldridge sediments, with local
alteration and weak mineralization occurs to the base of the hole.
Drill-holes IR10-001 to 004 were located over 1000m from holes reported herein
and returned no significant economic mineralization, though contained important
alteration minerals associated with sedex style deposits (see EPL/PV news
release November 16th, 2010). Analytical results from Holes IR10-006 to -009
will be reported in future updates, but are not expected to return significant
values. Portions of oxide material observed in some holes will be re-analyzed
using a screened-metallic process to test for the presence of coarse
gold.Results of this work will be reported at a later date. Petrographic and
lead-isotope dating is planned for the massive sulphide intervals in an attempt
to better understand the origin and mode of mineralization as well as the timing
of the emplacement of the lead.These studies could have significant implications
for the potential of the area and the methodology of future exploration.
Tim J. Termuende, President and CEO of Eagle Plains Resources stated recently
that "we are encouraged by results received from Holes IR10-005 and IR10-010.The
presence of gold mineralization over significant widths coupled with massive
sulphides containing lead, zinc and silver with key accessory minerals at our
target horizon underscores the potential of the Iron Range property and provides
the impetus for further work. Our partners are both aggressive and well-funded
and share our enthusiasm for the project"
A complete data package, including analytical results, drill-hole sections,
strip-logs, collar locations and drill-hole orientations, geophysical data and
drill-core photographs is available on the Eagle Plains website at:
http://www.eagleplains.com
Additional diamond drilling is planned for the property in early 2011. A
$500,000 Phase 2 program is intended to commence in mid- to late January.The
objective of the program will be to further delineate the mineralized zone
encountered in Holes IR10-005 and IR10-010 and to gain an understanding of the
geometry and structural controls of the zone. Down-hole geophysical surveys are
currently being contemplated. Contingent on favourable results, Phase 3 work
will follow immediately thereafter, with a budget to be determined.
Conference Call
The partners are planning to host a conference call on Tuesday, December 21st at
9:00am PST. Tim Termuende, President and CEO of Eagle Plains and Jim Ryley and
Dave Pighin of TerraLogic Exploration will be present to answer questions. The
call will be recorded and will be available on the Eagle Plains website for
later review.
Participanttoll-free dial-in number (North America): 1-866-809-5793
Iron Range Project Summary
The Iron Range deposits were originally staked in 1897 and were covered by Crown
Grants held by Cominco Ltd. and the Canadian Pacific Railway.Past work on the
Iron Range deposits by Cominco focused on the considerable iron oxide resource
with trenching and very shallow (20m depth) diamond drilling along the Iron
Range Mountain ridge.Eagle Plains staked the current claims immediately after
the Crown Grants reverted in 2000 and have been exploring the property since
then. Exploration work to date includes geological mapping, geochemical surveys,
diamond drilling and a 690 line-km airborne geophysical survey.
Drill programs were carried out by Eagle Plains in 2005 and 2008. Drilling on
the property in 2008 intersected gold mineralization including drill hole
IR08006, which returned 7.0m grading 51.52 g/t (1.50 oz/ton) gold from 20.0m to
27.0m (see EPL news release dated April 20th, 2009). This intercept is located
approximately 10km north of 2010 drilling locations. Swift Resources optioned
the property in late 2009 and completed a total of 580 m of drilling in 7 holes.
One hole was drilled in close proximity to IR 08006 and returned 1.0m grading
7.53 g/t gold. (see EPL news release dated March 5th, 2010). Swift subsequently
relinquished their option on the property.
DDH IR05-03, drilled in 2005, was collared 175m away from DDH IR10-10 and
returned values of 3.82 g/t Au and 46g/t Ag over a 2m interval (see EPL NR June
13, 2005). The mineralization encountered in this hole was associated with a
silicified, veined and altered breccia unit with associated galena, sphalerite
and arsenopyrite, and appears to be similar to material observed in the current
drill-holes as described above.
The Iron Mountain structure has been mapped with widths of up to 150m and a
strike length of over 50km.Copper and gold mineralization has been discovered
previously along the structure, highlighting the potential for iron-oxide
copper-gold ("IOCG") mineralized systems associated with the structure.The
claims also overlie rocks of the Aldridge Formation, including the same
stratigraphic time horizon which hosts the world-class Sullivan deposit located
70km to the northeast.Over its 100 year lifetime, Sullivan produced
approximately 150,000,000 tonnes of ore including 300,000,000 ounces of silver,
8,000,000 tonnes of zinc and 8,000,000 tonnes of lead, collectively worth over
$30 billion at current metal prices.The parties caution that past results or
discoveries on proximate land are not necessarily indicative of the results that
may be achieved on the Iron Range property.
Analytical Details and QAQC
All material was shipped to ISO17025-accredited AGAT Laboratories in Vancouver
for rush analysis. Core samples were analyzed via AquaRegia / ICP-OES
multi-element analysis and 30g Fire Assay / AAS analysis for gold.
Over-detection limit results for base metals (>10000ppm) and silver (>100 ppm)
were reanalyzed utilizing AquaRegia / ASS techniques. Due to the presence of
significant intercepts of semi-massive to massive sulphides in hole IR10-010,
the interval from 192.0m to 280.5m was also analyzed via a sodium peroxide
fusion / ICP-OES analysis for a variety of base metals
QAQC: Blank material and 3 different base metal and precious metal standards
were routinely introduced into the sample chain of custody for analysis.
Statistical analysis of the QAQC data was completed for Au, Pb, Zn and Ag and
the results are consistent with all analytic procedures completed by AGAT being
within acceptable parameters.
Geological exploration contracting services on the Iron Range property during
2010 are being provided by TerraLogic Exploration of Cranbrook, B.C. (a
wholly-owned subsidiary of Eagle Plains). Diamond drilling is being carried out
by F.B. Drilling of Cranbrook, B.C. All fieldwork is under the supervision of
geologist J.K. Ryley while C.C. Downie, P.Geo. is hereby identified as the
overall project supervisor. Technical aspects of this news release have been
reviewed and approved by T.J. Termuende, P.Geo., hereby designated as a
qualified person under National Instrument 43-101.
Providence Option Agreement
The Iron Range project is owned 100% by Eagle Plains and holds no underlying
royalties or encumbrances. Providence holds the option to earn a 60% interest in
the Property by spending $3,000,000 on exploration, making $500,000 in cash
payments and issuing 1,000,000 shares to EPL over 4 years. As announced on
November 2nd, an additional 35,800 ha of claims were added to the existing land
package, resulting in a total of 56,200 ha - an area approximately 11km x 50km.
The land package now covers over 30km of the Iron Range structure; most of it
unexplored.
About Providence Capital
Providence Capital Corp. is a junior mining exploration company focused on
delivering shareholder value through project acquisition and
development.Currently the company is focused on its Iron Range Project in
British Colombia, Canada.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore metal projects
throughout western Canada. In addition to holding mining royalties on various
projects, Eagle Plains controls over 35 gold, base-metal and uranium projects,
several with third parties including Excelsior Mining Corp (TSX:MIN.P),
Sandstorm Resources Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd.
(TSX-V:SND), Providence Capital Corp., Waterloo Resources Ltd. (TSX-V:WAT.P),
Windstorm Resources Inc., 0802906BC Ltd. (a private B.C. company); Heemskirk
Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW), Active Growth Capital
(TSX-V:ACK) and 99 Capital Corp. (TSX-V:WDG). In recent years, Eagle Plains has
completed option agreements with Teck Limited (TSX:TCK.B), Alexco Resource Corp.
(TSX-V:AXR), Billiton Metals, Rio Algom Exploration, NovaGold Resources,
Kennecott Exploration and numerous other junior exploration companies, resulting
in over 53,600m (163,370') of drilling and over $28.3 million in exploration
spending on its projects since 1998.
Expenditures during 2008 and 2009 on Eagle Plains' projects were approximately
$7,300,000, funded by Eagle Plains and third party partners. This work resulted
in approximately 6,900m of drilling and extensive ground-based exploration work
and facilitated the advancement of numerous projects at various stages of
development.
On behalf of the Board of Directors of Eagle Plains, we would like to wish
everyone a Merry Christmas and all the best in the coming year.
Signed,
"Tim J. Termuende"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE
(486 8673)
Email: mgl@eagleplains.com or visit our website at http://www.eagleplains.com
On behalf of the Board of Directors of Providence Capital Corp.,
Signed,
"Steve Bajic"
President and CEO
For further information on PV, please contact Steve Bajic at (604) 628-5614
or visit our website at www.providencecapital.ca
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. This news release
may contain forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and conditions
and therefore, involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.
Source: Eagle Plains Resources Ltd. (TSX-V: EPL) http://www.eagleplains.ca
Maximum News Dissemination by Filing Services Canada Inc. *
www.usetdas.com
URL: http://www.useTDAS.com
NEWS FRIDAY, DEC. 17 Trading Halt - PENDING NEWS
Investment Industry Regulatory Organization of Canada - Trading Halt - Eagle Plains Resources Ltd. - EPL
Press Release Source: Investment Industry Regulatory Organization of Canada (IIROC) On Friday December 17, 2010, 2:23 pm EST
VANCOUVER, Dec. 17 /CNW/ - The following issues have been halted by Investment Industry Regulatory Organization of Canada (IIROC):
Issuer Name: Eagle Plains Resources Ltd.
TSX-V Ticker Symbol: EPL
Time of Halt: 14:10:00
Reason for Halt: Company Request Pending News
http://finance.yahoo.com/news/Investment-Industry-cnw-3255190507.html?x=0&.v=1
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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. *
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