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Eagle Plains Reports Assay Results from
Kalum Gold-Silver Project
Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:TSX-V)
has completed fieldwork and received final assay results
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, prospecting 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 378 rock samples at a total cost of $260,000.
34 additional claims were acquired to cover new areas
of interest delineated during the 2003 field program.
The claims are 100% owned by Eagle Plains and consist
of 523 units (31,700 acres/ 13,000 ha) covering an area
of approximately 10 km x 12 km.
The claims cover numerous high-grade gold-silver vein
occurrences related to a Cretaceous-aged intrusive
stock that has surface dimensions of approximately 7
x 12
km. The project is accessed by a network of logging
roads and transected by a hydro-electric power-line.
It is located 90 km by road from port facilities in
Kitimat, or 100 km 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.
The results from the 2003 exploration program are
extremely encouraging, and indicate the potential
for a major
system or systems of high-grade Au-Ag mineralization
in several areas of the property. Most of the best
prospects occur near the margins of the Allard Pluton,
both within
the surrounding sedimentary rocks and the intrusive
itself. 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 Au systems world-wide.
Additional samples were collected by contract personnel
under the supervision of C. Downie, P.Geo., identified
as a “Qualified Person” in accordance with
National Instrument 43-101. Samples were sorted and
stored at a secure facility in Terrace prior to shipping.
Analyses were performed by Acme Analytical Laboratories
in Vancouver, BC.
Highlights of the 2003 program include:
Rico Zone: Contour soil sampling in the western area
of the property returned values of up to 4948 ppb
Au. A coherent, NNW-trending, greater than 100 ppb
Au soil
anomaly with a minimum length of 400 m and a width
of up to 130 m was defined. Hand-trenching in this
area
resulted in the discovery of multiple mineralized
quartz veins up to 2.5 m in thickness. The Rico
Vein returned
high-grade gold values, with best results of 2.5
m @ 11.0 g/t Au, including 1 m @ 23.7 g/t Au. Another
area
of the vein returned 0.8 m @ 12.7 g/t Au and a grab
sample returned 27.3 g/t Au.
Tuppie Zone: Prospecting in the west-central area
of the property resulted in the discovery of a new
zone
of poorly exposed high-grade silver-gold mineralization.
The area contains numerous epithermal, high-sulphide
veins up to 1 m wide, with associated zones of stockwork
veining and hydrothermal breccia within an area
of at least 200 x 200 m. Best grab sample assay
results
to
date include 975.2 g/t Ag with 2.8 g/t Au, 872.3
g/t Ag with 2.3 g/t Au, 776.6 g/t Ag with 2.2 g/t
Au and
666.5 g/t Ag with 3.1 g/t Au.
Tojo Zone: Prospecting in the north-western
area of the property resulted in the discovery of a
new
zone
of high-grade gold-silver mineralization. This is
an area of sheeted quartz veins over an area of
least 30
x 80 m, hosted in strongly ankerite-altered granodiorite.
The best grab sample results include 73.1 g/t Au
with 495.4 g/t Ag, 6.8 g/t Au with 65.8 g/t Ag and
4.0
g/t Au with 850.1 g/t Ag.
Chris/Martin Zone: Soil sampling in the northern
part of the property delineated a gold geochemical
anomaly
with a strike length in excess of 4.5 km. Peak soil
values include 640 and 602 ppb Au. The historical
Chris Vein and Martin Veins occur at the western
and eastern
ends of the soil anomaly respectively. The Chris
Vein has a maximum width of 1.34 m and a strike
length
in excess of 300 m. The average of all historical
assays
on trench samples over the entire exposed length
was 11.3 g/t Au and 80.6 g/t Ag, with an average
width
of 0.59 m. Best Eagle Plains 2003 grab sample results
include
36.6 g/t Au with 880.0 g/t Ag and 8.4 g/t Au with
1930.7 g/t Ag. The two Martin Veins are up to 0.5
m wide and
approximately 50 m apart. Best grab results from
the 2003 field program include 27.4 g/t Au with
77.9 g/t
Ag and 25.0 g/t Au with 260.9 g/t Ag.
Hat/Pick Zone: Historically documented veins in
north-west region of the property were surveyed
and sampled.
The Hat Vein gave spectacular results that include
a grab
sample with 35.94 g/t Au and 10737.8 g/t Ag and
a historical grab sample with 41.1 g/t Au and 9587.8
g/t Ag. A historical
grab sample of the Pick Vein assayed 70.4 g/t Au,
while a channel sample returned 4.8 g/t Au and 380.0
g/t Ag
across 0.7m. A 1.0 m channel sample across the 5000
Vein returned 6.1 g/t Au and 17.3 g/t Ag and a 0.45
m historical channel sample across the 4700 Vein
returned
7.3 g/t Au and 1077.0 g/t Ag. New discoveries in
this area include a grab sample with 5.0 g/t Au
and 26.5
g/t Ag from the Tracy Vein, and a 0.3 m channel
sample of 2.7 g/t Au and 72.9 g/t Ag across the
Trango Vein.
Misty/Moss Zone: The Misty/Moss Creek area has numerous
documented Au and Ag-bearing veins in outcrop and
float. Soil sampling by previous operators defined
numerous
large, greater than 100 ppb Au anomalies. Best historical
grab samples include 76.1 g/t Au and 947.9 g/t Ag,
while trenching returned 4.9 g/t Au over 1.1m.
Kalum, Burn Veins: The previously documented Kalum
1 and 2 veins on the eastern edge of the property
have
seen limited historical production. Historical grab
samples reported up to 251.0 g/t Au and 225.6 g/t
Ag. The best historical grab sample from the Burn
vein assayed
16.8 g/t Au and 242.1 g/t Ag.
Silver Creek Area: 2003 discoveries in the southern
area of the property include the 0.6 m wide Sunny
vein that returned a grab sample result of 8.3 g/t
Au, and
the Silver Creek shear-vein that returned a grab
sample result of 204.4 g/t Ag with 0.2 g/t Au.
Results from the 2003 field program on the Kalum
property highlight the significant potential for
the discovery
of high-grade, economically viable gold and silver
mineralization. Eagle Plains has successfully consolidated
the entire
area of known mineralization, and has embarked on
the first systematic approach to understanding the
local
geology and structure. The success in identifying
new areas of significant mineralization within a
relatively short timeframe underscores the potential
for more
new
discoveries. Work in 2004 will be aimed at defining
the newly discovered zones in preparation for drilling,
and exploring for new zones of mineralization on
ground yet to be covered.
A detailed plan map of geology, infrastructure and
showing areas in pdf format may be viewed on our
website under the British
Columbia Properties heading.
Eagle Plains Resources continues to aggressively
conduct research, acquisition and exploration projects
in
western Canada. Through a network of experienced
prospectors, consultants and 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 its 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 Resource
Corp. and numerous other junior exploration companies,
resulting in some 13,000 m (43,000’) 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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