Eagle Plains Acquires Gold Properties Near Salmo, BC
Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:CDNX) announces that it has received title to three separate claim groups located near Salmo, BC. The claims consist of a total of 38 units (2,300 acres) near Sultan Minerals' Kena project, where intensive exploration activity is currently underway.
The three claim groups (named Big Galoot, DND and IN) were targeted based on geology, access/infrastructure, and proximity to known gold mineralization as has recently been discovered by Sultan.
The Big Galoot property (16 units/970 acres), is underlain by Rossland Group volcanics and Nelson Group intrusions. The claims cover mineralization related to a zoned copper porphyry type of deposit. Mineralization consists of an inner core of molybdenum- copper-tungsten related to a quartz vein stockwork zone, surrounded by a 1.5-2.0 kilometer width concentric zone of gold-copper-lead-zinc-silver mineralization also related to an extensive vein stockwork. A number of historical adits and pits are located on the property. Limited diamond drilling by past operators on the claims located wide zones of sub-economic mineralization with the best drill intersection reporting 85 meters of 0.115% MoS2, including 30 meters grading 1.2 oz/t silver. Initial rock sampling carried out concurrent with 2001 staking activities returned encouraging results, with up to 2840 ppb gold returned from a float sample of semi-massive sulphide material. A single stream-sediment sample collected returned an encouraging 229 ppb gold. The Second Relief Mine, the second largest gold skarn deposit in B.C., is located approximately 3 kilometers north of the claim boundary.
The DND property (12 units/730 acres) is contiguous with the eastern boundary of Sultans' Kena claims, and is located along Highway 6. Relatively little is known about the property, though an overgrown abandoned tunnel was located during staking, suggesting the presence of mineralization. Preliminary silt-sampling conducted while staking returned anomalous gold values.
The IN property (10 units/607 acres) is located approximately 10km south of the DND claims, and is also contiguous with the eastern boundary of Sultans' Kena claims, adjacent Highway 6.
Eagle Plains intends to commence systematic fieldwork on the three project areas during the upcoming field season.
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.