|
Eagle
Plains Commences Fieldwork on
Kalum
Gold-Silver Project;
L.W. MacEachern Resigns from Board
Cranbrook,
B.C., 01 June, 2004: Eagle Plains Resources Ltd. (EPL:TSX-V)
has mobilized crews to commence fieldwork on the Kalum
project located 30km northwest of Terrace, near the
central coast of British Columbia. The claims consist
of 540 units (32,000/13,500 ha) covering an area of
approximately 10 km x 12 km, and are 100% owned by Eagle
Plains. Fieldwork during 2004 is budgeted at over $1,000,000
and will follow up on very encouraging results obtained
during 2003 fieldwork (see Sept 30, 2003 News Release).
Focus will also be given to additional areas recently
outlined by a 2000 line-km airborne geophysical program
completed in March of this year.
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.
Results from the 2003 exploration program indicate the
potential for a major system or systems of high-grade
Au-Ag mineralization in several areas of the property.
2004 fieldwork will consist of detailed geologic mapping
in areas of known mineralization, followed by soil geochemical
sampling, trenching and a 10,000’ (3000m) diamond
drilling program, which is expected to commence in late
August. A detailed plan map of geology, infrastructure
and showing areas in PDF format may be viewed on the
Eagle Plains website (www.eagleplains.ca) under the
“British Columbia Properties” heading.
Preliminary fieldwork on EPL’s East Kootenay projects
as announced on April 25th and May 5th has largely been
completed, with analytical results pending. Detailed
reports of these programs will be released after compilation,
analysis and interpretation has been concluded.
The Board of Directors reports the resignation of L.W.
(Lou) MacEachern, effective May 28th, 2004. Mr. MacEachern
has been involved with Eagle Plains since 1999, and
has made a significant contribution to the development
of the Company. The Board would like to thank Lou for
his service and wishes him well in his many ventures.
Eagle Plains Resources continues to conduct research,
acquisition and exploration projects in western Canada.
The Company controls over 30 gold and base-metal projects,
many of which are currently optioned to or joint-ventured
with third parties including SpectrumGold Inc.,
Kobex Resources Ltd., Northern Continental Resources
Inc., Shoshone Silver Mining Co., and Golden Cariboo
Resources Inc. These agreements expose Eagle
Plains to over 18 million dollars in exploration expenditures
over the next five years. In recent years, Eagle Plains
has completed option agreements with Billiton
Metals, Rio Algom Exploration, Kennecott Exploration,
NovaGold Inc., Viceroy Resource Corp. and numerous
other junior exploration companies, resulting in nearly
13,000m (43,000’) of drilling and over $5,000,000
in exploration spending on its’ projects since
1998.
On Behalf of the Board of Directors
Tim J. Termuende, P.Geo.
President and CEO
|