Drilling To Commence on Eagle Plains' Bootleg Base-Metal Property, Southeastern B.C.
Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:CDNX) is pleased to announce that it has received notification from optionee Rio Algom Exploration Inc. that diamond drilling will commence on Eagle Plains' 100% owned Bootleg property, located near Kimberley, British Columbia.
The property is situated 5 km from Cominco's world-class Sullivan deposit, and is contiguous with the Sullivan crown grants. Rio Algom may earn a 60% interest in the 184 unit (11,200 acre) property by carrying out $2,000,000 in exploration expenditures and making cash payments of $310,000 over 4 years (see news release May 31, 2000).
Rio Algom has completed geological mapping and sampling of the property during the 2000 summer season, and is planning to test the Sullivan time-stratigraphic horizon with a single drillhole. Drilling activities are expected to take approximately one week.
On behalf of the Board of Directors
“Tim J. Termuende”
President and CEO
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