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Eagle Plains Completes Phase One Fieldwork
on Kalum Gold Project
Cranbrook, B.C.: Eagle Plains Resources
Ltd. (EPL:TSX-V) has completed fieldwork on the Company’s
100% owned Kalum project located 30km northwest of Terrace,
near the central coast of British Columbia. Phase One
field work consisted of property-scale geological mapping
and rock-chip, soil and stream-sediment geochemical
sampling. Exploration activity took place over 21⁄2
months, and saw the collection of 1,221 soil samples,
343 stream-sediment samples and 377 rock samples at
a total cost of $190,000. 34 additional claims were
acquired to cover additional areas of interest delineated
during 2003 work. The property area now consists of
523 units (31,700 acres/ 13,000ha) and covers an area
of approximately 10km x 12km.
The claims cover numerous high-grade gold-silver occurrences
related to a Cretaceous aged granitoid stock that
has surface dimensions of approximately 7 by 12 km.
The
project is accessed by a network of logging roads
and transected by a hydro-electric power-line. It is
located
90km by road from port facilities in Kitimat, or 100km
by rail from Terrace to port facilities in Prince
Rupert. Extensive logging activity has taken place throughout
the project area, with additional road-building and
logging activity planned over the next three years.
All previous exploration work in the project area
was completed prior to the discovery and recognition
of
intrusion related gold system (“IRGS”)
models. 2003 exploration efforts were directed to
assessing
the project area and identifying similarities to known
IRGS deposits such as Fort Knox, Pogo, Donlin Creek,
Kidston, and other recently recognized deposits of
this type located around the world. Geological mapping
and
sampling was completed by Julian Stephens, who recently
completed a Doctorate degree at James Cook University
in Queensland, Australia with emphasis on intrusion-related
gold systems world-wide.
Preliminary results are extremely encouraging, and
indicate the potential for a major system or systems
of high-grade
gold-silver mineralization in numerous areas of the
property. Throughout the course of the program, a
total of 14 new high-grade gold and/or silver showings
were
discovered, and another 14 previously documented occurrences
were located, sampled and surveyed. Highlights of
the 2003 program include;
- The delineation of a prominent gold soil geochemical
anomaly extending for over 1.4 km in the northern
area of the property. Peak values include 640
and 602 ppb gold. The zone has a width of up to 125
m with greater than 100 ppb
gold.
- Contour soil sampling in the eastern area of
the property returned values up to 4948 ppb gold,
and
defined a coherent NNW trending soil anomaly with
a minimum
length of 400 m and width of up to 130 m with greater than 100 ppb gold.
Hand-trenching in this area resulted in the discovery
of multiple mineralized quartz veins
up to 2 m in thickness, with a grab sample grading 15.0 g/T gold.
- A grab sample containing 58.1 g/T gold and 440
g/T silver from a granitoid-hosted, sheeted vein zone
near
the NE margin of the stock.
- Discovery of numerous new showings in the SW
area of the property. These include a zone that contains
numerous high-sulphide veins up to 1 m width,
with surrounding
areas of stockwork and breccia. Best assay results to date include 2.8
g/T
gold with 513 g/T silver, and 1.7 g/T Au with 567 g/T silver.
A detailed disclosure of all analytical results will
be released as final results are returned and data is
compiled and assessed.
Eagle Plains Resources continues to conduct research,
acquisition and exploration projects in western Canada.
Through a network of prospectors, consultants
and experienced contractors in addition to seasoned employees and a well-rounded
Board of Directors, the Company has assembled a diverse portfolio of
gold and
base-metal properties. EPL seeks to attract joint-venture participation
on it’s
properties, thereby leveraging exploration spending to the ultimate benefit of
the Company’s shareholders. In recent years, Eagle Plains has completed
option agreements with Billiton, Rio Algom, Kennecott, Novagold Resources, Viceroy
Resources and numerous other junior exploration companies, resulting in nearly
10,000m (33,000’) of drilling and over $5,000,000 in exploration spending
on its properties since 1998.
On Behalf of the Board of Directors
Tim J. Termuende, P.Geo.
President and CEO
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