Eagle Plains Acquires "Abo" Gold Deposit
Cranbrook, B.C.: Eagle Plains Resources Ltd. (EPL:CDNX) is pleased to announce that it has received title to 29 claim units (1760 acres) containing the Abo (Harrison Gold) deposit, located 130km east of Vancouver near Harrison Lake. Property mineralization consists of a number of gold occurrences associated with a series of small intrusive stocks. Accessory minerals include copper, silver, lead, zinc, molybdenum, tungsten and bismuth. The property is road-accessible year-round, with hydroelectric power and rail-service located within 3 kilometers of property boundaries.
The property area has been held or optioned by various operators since the early 1970's including Abo Resources, Kerr Addison Mines Ltd. and Bema International Resources. Exploration work has included mapping, soil sampling, ground-based geophysics and a total of 13,856m (45,448') of diamond drilling. Some small scale underground development has also been completed. Most of the work was focused on the northern part of the property in the area of the Jenner and Portal Stocks. Drill results from the Portal Zone include 30 meters averaging 3.17 grams per tonne gold (EMPR ASS RPT 19584). Drill results from the Jenner Stock include 64m averaging 3.77 gm/t (EMPR ASS RPT 20144). In 1987, Kerr Addison collected a 1053 tonne bulk sample from the Jenner Stock underground workings. Using the metallurgical results from this sample combined with extensive underground sampling and results from diamond drilling, Kerr indicated a grade of 3.2 - 4.1 g/t Au with an inferred tonnage of 1.3 million tonnes from surface to 100m elevation, and 2.2 million tonnes from surface to sea level (EMPR ASS RPT 20144, MINFILE #92HSW092). Other gold-bearing stocks identified on the property include the Hill and Lake Stocks. These areas have seen limited exploration in comparison to the Jenner-Portal Stocks areas. Diamond drill intersections from the Hill Stock area include DDH BX88-130 which averaged 3.54 g/t Au and 6.3 g/t Ag over 27 meters, and contained 8m averaging 8.7 g/t Au and 14.2 g/t Ag (EMPR ASS RPT 20144).
Eagle Plains acquired the property by staking late in 2000, and intends to carry out a comprehensive compilation of existing data. The company also plans to re-evaluate existing reserve calculations, initiate metallurgical studies, and assess the exploration potential of under-explored areas of the property.
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.