Diamond Drilling Commences on Eagle Plains’ Bohan Project
A diamond drill has been mobilized to Eagle Plains Resources Ltd.'s (EPL:TSX-V) Bohan project located 20km NE of Creston, in southeastern British Columbia. The 76-unit (4600 acre) property is 100% owned by EPL and carries no underlying royalties or encumbrances. It is road-accessible and favorably located with respect to hydro power and rail transportation infrastructure.
EPL conducted an airborne geophysical survey over the property in early 2004. The project area last saw work in 2001, when EPL contracted C. Greig, P.Geo. to carry out geological mapping of the area. The target area is considered to have good potential to host sedimentary-exhalative (sedex) or manto-type base-metal mineralization. The current program will be carried out under the supervision of C.C. Downie, P.Geo., identified as a "Qualified Person" under National Instrument 43-101.
Geological work by EPL and past operators indicates that the Bohan property hosts an extensive base metal (Pb/Zn) geochemical anomaly (see accompanying figure). The anomaly is approximately 4 kilometers in length with a central continuous zone of 250 meters by 1.5 kilometers and contains soil sample values up to 12,000 ppm zinc and 4229 ppm lead. This anomaly is in part coincident with an Induced Polarization (I.P.) geophysical anomaly and has not been tested by diamond drilling. The generally steep dip of the bedding and the orientation of the soil and geophysical anomalies indicate the potential for thick mineralized horizons. The rocks underlying the Bohan property in the area of the geochemical/geophysical anomalies are believed to be equivalent to the rocks that host the Wilds Creek (Leg) lead-zinc-barite deposit located approximately 10 kilometers southwest of the property boundary.
A single 1000-1500' (300-450m) hole is planned to test the center of the coincident anomaly, and is expected to take one week to complete. Permits are in place for an expanded program, if results warrant.
Drilling activity has now been completed on EPL's Terrace-area projects (Kalum and LCR). Results will be issued as assay data is compiled and interpreted.
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 NovaGold 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 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, Viceroy Resource Corp. and numerous other junior exploration companies, resulting in over 18,000m (60,000 ft) of drilling and over $6,000,000 in exploration spending on its projects since 1998.
On behalf of the Board of Directors
“Tim J. Termuende”
President and CEO
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.