Diamond Drilling Commences on Eagle Plains’ Bohan Project
Cranbrook, B.C., 09 September, 2008: a drill crew has been mobilized to Eagle Plains Resources’ (EPL:TSX-V) Bohan project located 20km NE of Creston, southeastern British Columbia. The 7,900ha 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. A total budget for the program has been set at $400,000 and will consist of approximately 1,200m (4,000’) in 5-7 holes.
The property hosts the Wilds Creek sedimentary exhalative (“sedex”) type base-metal deposit, an historic (non-43-101 compliant) resource reported by Aho (1964) and published by the B.C. Geological Survey consisting of 136,000 tonnes grading 6% zinc (though these estimates are considered by Eagle Plains to be relevant, their reliability has not been confirmed, but will constitute a target basis for future exploration work). The target areas are considered to have good potential to host additional sedex-type base-metal mineralization.
Drilling completed in 1990 and 1992 by previous operators returned values ranging from no significant results to 2.6m grading 10.2% Zn (L90-1); 3.1m grading 3.44% Zn (L92-8), 2.3m grading 9.94% Zn (L92-9) and 3.1m grading 3.55% Zn (L92-10). The property overlies approximately 12km of favourable stratigraphy and contains numerous untested prominent soil geochemical anomalies along its projected strike.
The current drill program will target both the Wilds Creek resource area and at least one geochemical target located along strike. 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.
Update on other Eagle Plains Projects:
Kalum (Au, Cu, Mo); Terrace, BC
Diamond drilling is now underway on EPL’s 100% owned Kalum property located 30km north of Terrace, BC, funded and operated by option partner Mountain Capital Corp (MCI:TSX-V). Approximately 1000m (3300’) of footage is planned to test targets developed earlier this season. 2008 fieldwork included mapping, sampling and an Induced Polarization (I.P.) geophysical survey.
Mackenzie Valley Zinc Project (Zn, Pb, Ag); Mackenzie Mtns, NWT
Crews have completed 2008 fieldwork on the Mackenzie Valley Zinc Project (part of a Strategic Alliance with Teck Cominco Ltd.) located 160km west of Norman Wells, NWT. An average of 20 people per day carried out systematic exploration of the large project area since mid-June. Fieldwork consisted of ground geophysical surveys, soil and stream geochemical sampling, geological mapping and prospecting. Detailed ground geophysical (I.P. and E.M) surveys were completed over select target areas. A total of 529 rock, 869 stream-sediment and 3442 soil samples were collected throughout the course of the program. A $2.5M budget has been allocated for this project, with funding provided through equity financing by Teck-Cominco (see EPL news release May 7, 2008). Results will be released as they are compiled and interpreted.
Titan (Cu, Mo, Au); Atlin, BC
Work on the property was carried out between July 21st and August 22nd, and was funded by option partner XO Gold (a private BC company). Fieldwork included mapping, prospecting, soil and stream-silt geochemical sampling, and an infill airborne geophysical survey. The 2008 field program included 46 man-days and saw the collection of 27 rock samples, 53 stream-silt samples and 301 soil samples. Concurrent to the field program, a 195 line-kilometer airborne geophysical infill survey was completed bringing EM and magnetic coverage to 100% of the property area. Total 2008 field and geophysical expenditures were approximately $175,000.
Elsiar (Au, Cu, Mo); Terrace, BC
Fieldwork has resumed on the property, located 30km north of Terrace, BC, funded by option partner Sandstorm Resources Ltd. (SSL:TSX-V). Crews commenced sampling activity in early July, but were restricted to lower elevations due to an unseasonably slow snow melt. Soil geochemical sample will resume shortly, and follow-up mapping and sampling will be carried out in areas identified during earlier sampling. The budget for this season’s work is $200,000.
About Eagle Plains
Eagle Plains Resources continues to conduct research, acquire and explore metal projects in western Canada. The Company controls over 35 gold, base-metal and uranium projects, many with third parties including Teck Cominco Limited (TSX:TCK.B), Alexco Resource Corp. (TSX-V:AXR), Sandstorm Resources Ltd. (TSX-V:SSL), Mountain Capital Inc (TSX-V:MCI) and XO Gold Resources Ltd. These agreements expose Eagle Plains to over $15.0 million in exploration expenditures over a five year period. In recent years, Eagle Plains has completed option agreements with Billiton Metals, Rio Algom Exploration, NovaGold Resources, Kennecott Exploration and numerous other junior exploration companies, resulting in over 52,000m (158,500’) of drilling and over $27.0 million in exploration spending on its projects since 1998. Eagle Plains management anticipates approximately $6,000,000 in expenditures on its projects in 2008, funded equally between Eagle Plains and third party partners.
This news release has been reviewed and approved by Tim J. Termuende, P.Geo., hereby designated as a “Qualified Person” under National Instrument 43-101.
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.