Eagle Plains | Ice River - Lead, Zinc & Industrial Mineral Exploration

Ice River | (Rare Earth Elements, industrial minerals, lead, zinc)

The Ice River property is located within the Golden Mining Division, on NTS mapsheet 82N/1W at Latitude 51° 11' 30” N, Longitude 116° 22' 00” W. (see Ice River Compilation Map). It is located 45km east of Golden, B.C. within the headwaters of Moose Creek, occupying the western side of the valley. Moose Creek drains southward to the Beaverfoot Valley , which flows northwestward to the Kicking Horse River . The property is currently accessed by helicopter. Forest Service roads reach to within 5km of property boundaries.

The property is located from elevation 1760 to 2700m, and consists of primary subalpine scrub vegetation and talus. Lower elevations are forest-covered, with mature spruce and pine dominating.

The Ice River group of mineral claims are owned by 100% by Eagle Plains Resources Ltd. and consist of 28 MGS claim units (1700 acres). The property is host to portions of the Ice River Complex, and contain a number of geologically unique and economically significant features, including a widely dispersed resource of ornamental sodalite , an enormous quantity of nepheline syenite , and an undefined deposit of possible ore-grade base-and precious metals. Grades of 3.69% Pb, 16.10% Zn, 1.59% Cu, 27.30% Fe, 99.4 g/T Ag and 1.7 g/T Au have been reported for massive sulphides of the Waterloo occurrence, which has not been tested by diamond drilling.

The overall area has been the subject of academic study since the early 1900's. Eagle Plains is currently working with option partner Waterloo Resources to assess the property for its' economic potential in regards to base metals and rare earth elements.

The 2009 exploration program targeting REE mineralization was considered to be successful and resulted in the following highlights including the expansion of the known extent of mineralized zones exposed in the alpine:

•	REE samples returned up to 1.44% total Rare Earth Element Oxides (TREO), with eight samples returning greater than 0.50% TREO
•	A total of 15 rock samples returned greater than 1,000 g/t Nb2O5, with the best grab sample returning 4,653 g/t Nb2O5.
•	600m x 600m soil geochemical anomaly delineated

The Ice River complex is an alkaline ultramafic some 18 kilometres in length, with a total exposure of 29 square kilometers. Within the complex, two distinct suites are present: an early, rhythmically layered, feldspar-free intrusion of jacupirangite, ijolite and urtite, cored by a carbonatite plug and crosscut by carbonatite dykes rich in mafic silicates and oxides; and a later zoned and crosscutting syenitic series, associated with a zeolite and feldspar-bearing carbonatite. The alkaline rocks intruded Cambrian and Ordovician shales and carbonates of the Chancellor, Ottertail and McKay Formations. Contact metamorphism of the enclosing sedimentary rocks resulted in the formation of hornfels and skarns. Some limited soda metasomatism also occurred. The complex and its host rocks were deformed and subjected to low-grade regional metamorphism during the Columbian orogeny.

The principle economic potential of the property appears to lie with the strataform massive sulphides of the Waterloo prospect, the extensive nepheline syenite and the presence of ornamental sodalite.

At the Waterloo occurrence, mineralization forms an almost continuous blanket of massive sulphide up to 1.0m thick along the base of a lamprophyre sill in the Ottertail Formation. The principal sulphide is pyrrhotite, in which occur nodules of pyrite, chalcopyrite and galena. Sphalerite and arsenopyrite have also been reported. Around the edges of massive sulphides, the Ottertail Formation has been recrystallized into coarse white calcite with interstitial quartz. A representative sample of ore from an adit dump assayed 3.69% Pb, 16.10% Zn, 1.59% Cu, 27.30% Fe, 99.4 g/T Ag and 1.7 g/T Au (GSC Memoir 55, page 229). The original Waterloo claims were located in the early 1900s, at which time two tunnels were driven for a total of about 83 meters. No diamond drilling has been reported for the occurrence.

A potentially economic resource of ornamental sodalite is located within the boundaries of the Ice River claims. Brilliant blue-green material occurs in large float boulders strewn across a talus slope (See Figure 1). These boulders are up to 2m x 3m in size, indicating a large source area. The location of source rocks for the brilliant float material has not been found. The presence of float laterally across the talus slope suggests that the sodalite occurs primarily as vein material, and is hosted by both sedimentary and igneous rocks. Tonnage calculations made by Addie (1990), suggest that over 6 million tonnes of sodalite material may be present within two zones.

A large amount of nepheline syenite has been mapped within property boundaries of the claims. Nepheline syenite is produced in Ontario and within the eastern United States . It is used as a building material and is a source of feldspar. There is currently no production of nepheline syenite in British Columbia , though western provinces and Pacific Northwest users consume 25,000 tons/year, all of which is delivered from Ontario . An estimated resource of approximately 430,000,000 tonnes has been estimated for the property.

The Ice River group of claims overlie a sequence of rocks which has seen geologic investigation since the early 1900s. This is due to both the unique geological and geochemical characteristics of the area, and the considerable economic potential located there. Various groups have completed programs in the area, first described in 1914 by J.A. Allan in GSC Memoir No. 55, Map 142A. Albany Oil and Gas in 1971 staked the Bow 1-49 claims, which cover most of the area now underlain by the Ice River tenures. Their work consisted of evaluating the property for a number of commodities, including titaniferous magnetite, uranium, columbium/niobium, and sodalite. Cominco Ltd. investigated the Moose Creek area in 1971.

Considering the recent improvement in metal prices, massive sulphide mineralization at the Waterloo occurrence should be assessed. There is no record of past diamond drilling activity in the area. Exploration for the host of the large sodalite boulders should also be undertaken. A study should also be conducted regarding the potential extraction of nepheline syenite as an economic industrial mineral.

This project is currently under option.

Updated March 23, 2010