Findlay Drilling Yields Significant Results
Cranbrook, B.C.: Partners Eagle Plains Resources Ltd. (EPL:ASE) and Miner River Resources Ltd. (MRG:ASE) announce that final results have been received from a drilling program carried out during late 1998 on their 50/50 joint-venture Findlay property located in southeastern British Columbia within the North Sullivan Camp. Operator Kennecott Canada Exploration Inc. currently has an option to earn a 60% interest in the Findlay package by completing $2,000,000 in exploration expenditures and making cash payments of $250,000 to the companies by December 31, 2000.
During the course of Kennecott's $1,200,000 1998 program, five holes were drilled totaling 1853 metres (6079 ft). Four holes were drilled in the southern portion of the property, three of which failed to yield significant mineralization. Hole 98-04, drilled in the Pico Basin near the neighbouring Greenland Creek property (see Jan. 21/98 & Nov. 13/98 news releases), encountered an extensive sheeted vein system containing lead and zinc (with accessory cadmium, copper and tungsten) mineralization. Drillhole 98-05 was collared near the northern boundary of the property to test an extensive tourmalinite alteration facies discovered in 1996 by Eagle Plains/Miner River. This hole encountered significant base-metal enrichment over 105.2m from a depth of 171.8m to 277.0m. Within this interval, 46 individual thin stratabound mineralized horizons were intersected. A summary of significant results is as follows:
|Hole No.||Depth||Azimuth/Incl.||Interval||Length||Ag (ppm)||Pb (ppm)||Zn (ppm)|
|98-01||478.2m||085/-80||(no significant mineralization)|
|98-02||135.3m||049/-60||(no significant mineralization)|
|98-03||468.8m||100/-85||(no significant mineralization)|
Sampling was carried out by Kennecott personnel with ICP analyses performed by Chemex Labs of Vancouver, BC. Kennecott has indicated that it will carry out further work on both the Findlay and Greenland Creek projects during the 1999 field season in an attempt to vector towards economic grade mineralization.
"R. W. Termuende"
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: email@example.com or visit our website at http://www.eagleplains.com
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