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Eagle Plains' Announces Results From
Pelly Mountain Project 2001 Reconnaissance Program
Cranbrook, B.C.: Eagle
Plains Resources Ltd. (EPL:CDNX) is pleased to announce analytical
results from a reconnaissance geochemical program carried
out during June in the Pelly Mountain Volcanic Belt,
south-central Yukon Territory, approximately 30km south
of Ross River. The 2001 program follows diamond drilling
completed by Eagle Plains in 2000 which intersected
exhalitive type mineralization on both the FIRE and
ICE properties, located approximately 7 kms apart. Drilling
highlights on the FIRE property included a 15.1m intersection
which assayed 22.4g/T Ag, 1529ppm Pb and 6033ppm Zn,
including 3.3m (approximate true thickness) grading
65.5g/T Ag, 4930ppm Pb and 2.15% Zn. A single hole drilled
on the ICE property intersected a thick exhalitive bedded
barite horizon containing numerous stratiform sulphide
horizons over an approximate true thickness of 48.4m
(158.8 feet). The best mineralized interval within the
barite was found from 56.7m to 58.0m, which returned
5.64% zinc, 0.17% lead, and 12.3 g/T silver (see News
Release Sept 11, 2000).
Subsequent to the 2000 drill program, Eagle Plains
undertook an aggressive staking program to secure prospective
VMS stratigraphy in the FIRE-ICE area. The newly staked
claims effectively joined the FIRE and ICE properties,
and now consist of 266 contiguous units covering 13,500
acres, with another 54 satellite claim units in the
area. The area is now referred to as the Pelly Mountain
Project, and was the focus of the 2001 reconnaissance
program.
2001 Phase 1 work saw a total of 178 silts, 86 soils
and 14 rock samples collected. Samples were processed
using Atomic Absorbtion Spectroscopy (AAS) and Inductively
Coupled Plasma (ICP) geochemistry at Northern Analytical
Laboratories in Whitehorse. Analytical results indicate
that the claims cover a prospective stratigraphic
package that is highly enriched in base and precious
metals.
The average zinc value in the silt and soil samples
collected was 515ppm, with coincident highly anomalous
silver, copper, lead, barium, and cadmium values.
Using an extremely conservative threshold of 700 ppm
zinc,
the survey has identified at least five highly anomalous
drainages in areas untested by historical work programs.
Highlights of the program include:
COLE Claims-located 1.5 km east of 2000 FIRE VMS discovery;
silt sampling returned average values of 2913ppm zinc,
111ppm lead, 70ppm copper, 19ppm cadmium and 250ppm
barite over a distance of 1.1 kilometers.
ICE Claims-located 3 kilometers west of 2000 FIRE
VMS discovery; silt sampling returned average values
of
1481 ppm zinc, and 14.84ppm cadmium with associated
anomalous copper, lead, and barite values over a distance
of 2.2 kilometers.
ASH Claims-located 1.5 kilometers south of 2000 ICE
VMS discovery. 2001 silt sampling in a previously
untested drainage returned values of 1.39g/T silver,
1243ppm
zinc and 424ppm lead over 400 meters. Based on past
geological mapping by Eagle Plains in the area, it
is believed that the geochemical anomaly may represent
an extension of the ICE massive barite horizon;
MELT Claims-located 6 kilometers northwest of 2000
FIRE VMS discovery; a massive sulphide showing was discovered
on the property during the 2001 program; mineralization
consists of massive to semi-massive pyrite over an
exposed
thickness of 1.5 m, with sphalerite, galena and trace
chalcopyrite. All samples collected from the showing
were anomalous, including CDM01R03 which returned
values of 3 g/T Ag, 5.48% zinc, 227ppm copper, 368ppm
lead,
414.4 ppm cadmium, 152ppm mercury and 353ppm tungsten.
Results from the 2001 reconnaissance program and past
programs by Eagle Plains Resources and other operators
in the FIRE/ICE area have located a VMS style geochemical
anomaly over a 20 square kilometer area, coincident
with a package of volcanic rocks that hosts the nearby
Wolf and MM VMS exhalitive-type base metal deposits.
Eagle Plains Resources is currently planning to commence
a Phase II work program on the Pelly Mountain Project
in August/September 2001 which will include additional
prospecting, soil geochemical sampling and geological
mapping to locate targets for diamond drill testing.
On Behalf of the Board of Directors
Tim J. Termuende, P.Geo.
President and CEO
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