Eagle Plains Stakes Additional Cranbrook Area Gold Target
Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:TSX-V) has completed staking and received 100% title to a 45-unit claim block (2700 acre) property located 50km west of Cranbrook, BC. The claims were named “Cretin” and cover a large (7.5 square-km) Cretaceous-aged granitic intrusive known as the Hall Lake Stock, which is hosted by Aldridge and Creston formation sediments. The claims are situated 15km west of Chapleau Resources’ (CHI:TSX-V) extensive land holdings, and were acquired for their strong geologic similarities to the area currently being drill-tested by Chapleau (see CHI News Release Jan 8/03).
There is no recorded exploration work on the Hall Lake Stock, though government regional stream-sediment sampling shows elevated gold values in streams which drain the area. The stock is located along the Hall Lake Fault, a large north/south-oriented regional fault structure shown to have continuity over 100km, and genetically linked to the Iron Range Fault currently being explored by Eagle Plains (see EPL News Releases Apr 29, July 22/02).
Though no formal fieldwork has been completed on the intrusive structure, quartz veining within intrusive float rock was observed during staking. Preliminary fieldwork including prospecting, geologic mapping and geochemical sampling will commence when the area becomes snow-free.
Eagle Plains Resources continues to conduct research, acquisition and exploration projects in western Canada. Through a network of prospectors, consultants and experienced contractors in addition to seasoned employees and a well-rounded Board of Directors, the Company has assembled a diverse portfolio of gold and base-metal properties. EPL seeks to attract joint-venture participation on it’s properties, thereby leveraging exploration spending to the ultimate benefit of the Company’s shareholders. In recent years, Eagle Plains has completed option agreements with Billiton, Rio Algom, Kennecott, Novagold Resources, Viceroy Resources and numerous other junior exploration companies, resulting in nearly 10,000m (33,000’) of drilling and over $5,000,000 in exploration spending on its properties 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.