Airborne Geophysical Survey Commences on "Abo" Gold Project
Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:CDNX) is pleased to announce that crews and equipment have been mobilized to the Harrison Lake area of southwestern British Columbia to commence an airborne geophysical survey of the Company's 100%-owned Abo (Harrison Gold) property. Eagle Plains has contracted Fugro Airborne Surveys Corp. to carry out a 215 line-km airborne geophysical survey which will include DIGHEM( EM, magnetometer, and radiometric instrumentation.
Since October, 2000, Eagle Plains has assembled a land package consisting of 76 units (4600 acres) overlying a number of gold occurrences associated with a series of intrusive stocks. Accessory minerals include copper, silver, lead, zinc, molybdenum, tungsten and bismuth. The property is located 130km east of Vancouver, and is road-accessible year-round. Hydroelectric power and rail-service are located within 3 kilometers of property boundaries.
The Abo property area has been held or optioned by various operators since the early 1970's including Abo Resources, Kerr Addison Mines Ltd. and Bema International Resources. Exploration work has included mapping, soil sampling, ground-based geophysics and a total of 13,856m (45,448') of diamond drilling in 147 drill-holes. Some small scale underground development has also been completed. Most work was focused on the northern part of the property in the area of the Jenner and Portal Stocks. Drill results from the Portal Zone include 30 meters averaging 3.17 grams per tonne gold. Drill results from the Jenner Stock include 64m averaging 3.77 gm/t. In 1987, Kerr Addison collected a 1053 tonne underground bulk sample from the Jenner Stock. Using the metallurgical results from this sample combined with extensive underground sampling and diamond drilling data, Kerr indicated a grade of 3.2 - 4.1 g/t Au with an inferred tonnage of 1.3 million tonnes from surface to 100m elevation, and 2.2 million tonnes from surface to sea level. Other gold-bearing stocks identified to date on the property include the Breccia, Hill and Lake Stocks. These areas have seen limited exploration in comparison to the Jenner-Portal Stocks areas.
Eagle Plains has acquired all pertinent data from past exploration work, and intends to carry out a comprehensive compilation; re-evaluate reserve calculations, and assess the exploration potential of under-explored areas of the property. The Company is currently seeking joint-venture participation by technically-oriented third parties.
On behalf of the Board of Directors
“Tim J. Termuende”
President and CEO
Cautionary Note Regarding Forward-Looking Statements
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