Eagle Plains Resources Ltd. (EPL:TSX-V) and Providence
Capital Corp. (TSX-V:PV) have now completed ten diamond drill
holes for a total footage of 10,945 feet (3,337m). Drilling
activity has been suspended pending receipt of analytical results,
but is expected to resume following the Christmas holidays. The
partners continue to test the stratigraphic interval known to host
the Sullivan deposit, located 70km to the north. Current work is
targeting both precious metal and base metal mineralization and is
funded by Providence Capital under terms of an option
agreement.
The partners are encouraged by observations made to date of
existing drill-cores. Hole IR10-05 encountered wide, intermittent
intervals from surface to a depth of 278m containing breccia
textures and intensive silica and albite alteration. Associated
sulphide mineralization includes iron sulfides and arsenopyrite (a
mineral often associated with gold). Intervals 148.0m to 163.0m
(15.0m) and 270.0m to 278.0m (8.0m) were particularly enriched with
lead-zinc sulphide mineralization. Hole IR10-07 returned similarly
altered and mineralized material from 142.0m to 155.0m. Hole
IR10-10 hosted the most intensely-altered and mineralized material,
with semi-massive to massive sulphide mineralization including
galena (lead) and sphalerite (zinc) reported over two intervals
from 191.0m to 202.0m and from 276.0m to 279.0m. The lower massive
sulphide interval is overlain by a 55m zone of disseminated to
net-textured mineralization within intensely altered rock. The base
of the lowermost massive sulphide appears to be truncated by a
fault. Significant in the lower interval was the location of the
massive sulphide mineralization, which is interpreted to be at or
near the Lower-Middle Aldridge contact, the stratigraphic horizon
which hosts the Sullivan deposit. The hole was terminated in rocks
interpreted to be of the Lower Aldridge Formation.
A portion of the altered material from Hole IR10-05 was sent for
rush assay analysis in order to confirm the presence of suspected
gold mineralization. The interval from 62.5m-89.5m returned 0.64
g/t over 27m, including:
- 74.5m to 78.5m: 1.49 g/t gold and 22.5
g/t silver over 4.0m
- 86.5m to 87.5m: 6.05 g/t gold and 33.9
g/t silver over 1.0m
The interval from 144.0m to 163.0m returned .84g/t gold over
19.0m, including
- 148.0m to 155.0m: 1.80 g/t gold and
15.7 g/t silver over 7.0m, including 3.17 g/t gold and 22.9 g/t
silver over 3.0m
Widths of altered and mineralized intervals are apparent
thicknesses only. True thicknesses will be established with the
completion of additional drilling.
Drilling by Eagle Plains on the property in 2008 intersected
gold mineralization including drill hole IR08006, which returned
7.0m grading 51.52 g/t (1.50 oz/ton) gold from 20.0m to 27.0m (see
EPL news release dated April 20th, 2009). DDH IR05-03, drilled in
2005, was collared 175m away from DDH IR10-10 and returned values
of 3.82 g/t Au and 46g/t Ag over a 2 m interval (see EPL NR June
13, 2005). The mineralization encountered in this hole was
associated with a silicified, veined and altered breccia unit with
associated galena, sphalerite and arsenopyrite, and appears to be
similar to material observed in the current drill-holes as
described above.
Additional staff have been added to the project crew to assist
in core-logging and sampling operations. Analytical results will be
forthcoming as they are received, compiled and interpreted.
The Iron Range project is owned 100% by Eagle Plains and holds
no underlying royalties or encumbrances. Providence holds the
option to earn a 60% interest in the Property by spending
$3,000,000 on exploration, making $500,000 in cash payments and
issuing 1,000,000 shares to EPL over 4 years. As announced on
November 2nd, an additional 35,800 ha of claims were added to the
existing land package, resulting in a total of 56,200 ha – an area
approximately 11km x 50km.
Iron Range Project Summary
The Iron Range property consists of 56,200 hectares. The claims
are well-situated with respect to infrastructure with a
high-pressure gas pipeline, high-voltage hydroelectric line,
railway and major highway all located within property
boundaries.
The Iron Mountain structure has been mapped with widths of up to
150m and a strike length of over 50km. Claims held by Eagle Plains
cover over 30km of the structure, with significant iron-oxide
mineralization occurring over 15km. Copper and gold mineralization
have been discovered along the structure, highlighting the
potential for iron-oxide copper-gold (“IOCG”) mineralized systems
associated with the structure. The claims also overlie rocks of the
Aldridge Formation, including the same stratigraphic time horizon
which hosts the world-class Sullivan Deposit located 70km to the
northeast. Over its 100 year lifetime, Sullivan produced
approximately 150,000,000 tonnes of ore including 300,000,000
ounces of silver, 8,000,000 tonnes of zinc and 8,000,000 tonnes of
lead, collectively worth over $25 billion at current metal prices.
The parties caution that past results or discoveries on proximate
land are not necessarily indicative of the results that may be
achieved on the Iron Range property.
A map outlining pertinent details of the property may be found
at:
http://www.eagleplains.ca/projects/bc/ironrange/documents/iron_range_compilation_map.pdf
Property History
The Iron Range deposits were originally staked in 1897 and were
covered by Crown Grants held by Cominco Ltd. and the Canadian
Pacific Railway. Past work on the Iron Range deposits by Cominco
focused on the considerable iron oxide resource with trenching and
very shallow (20m depth) diamond drilling along the Iron Range
Mountain ridge. Eagle Plains staked the current claims immediately
after the Crown Grants reverted in 2000 and have been exploring the
property since then. Exploration work to date includes geological
mapping, geochemical surveys, diamond drilling and a 690 line-km
airborne geophysical survey.
Drill programs were carried out by Eagle Plains in 2005 and
2008. Swift Resources optioned the property in late 2009 and
completed a total of 580 m of drilling in 7 holes. One hole was
drilled in close proximity to IR 08006 and returned 1.0m grading
7.53 g/t gold. (see EPL news release dated March 5th, 2010). Swift
subsequently relinquished their option on the property.
Fieldwork completed on the Iron Range property during 2010 is
being carried out under the supervision of geologist J.K. Ryley.
C.C. Downie, P.Geo. is hereby identified as the overall project
supervisor. Technical aspects of this news release have been
reviewed and approved by T.J. Termuende, P.Geo., hereby designated
as a qualified person under National Instrument 43-101.
About Providence Capital
Providence Capital Corp. is a junior mining exploration company
focused on delivering shareholder value through project acquisition
and development. Currently the company is focused on its Iron Range
Project in British Colombia, Canada.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore
metal projects throughout western Canada. In addition to holding
mining royalties on various projects, Eagle Plains controls over 35
gold, base-metal and uranium projects, several with third parties
including Excelsior Mining Corp (TSX:MIN.P), Sandstorm Resources
Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd. (TSX-V:SND),
Providence Capital Corp., Waterloo Resources Ltd. (TSX-V:WAT.P),
Windstorm Resources Inc., 0802906BC Ltd. (a private B.C. company);
Heemskirk Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW) and
99 Capital Corp. (TSX-V:WDG). In recent years, Eagle Plains
has completed option agreements with Teck Limited (TSX:TCK.B),
Alexco Resource Corp. (TSX-V:AXR), Billiton Metals, Rio Algom
Exploration, NovaGold Resources, Kennecott Exploration and
numerous other junior exploration companies, resulting in over
53,600m (163,370’) of drilling and over $28.3 million in
exploration spending on its projects since 1998.
Expenditures during 2008 and 2009 on Eagle Plains’ projects were
approximately $7,300,000, funded by Eagle Plains and third party
partners. This work resulted in approximately 6,900m of drilling
and extensive ground-based exploration work and facilitated the
advancement of numerous projects at various stages of
development.
On behalf of the Board of Directors
Signed,
“Tim J. Termuende”President and CEO
For further information, please contact Mike
Labach at 1 866 HUNT ORE (486 8673)Email: mgl@eagleplains.com or
visit our website at http://www.eagleplains.com
Cautionary Note Regarding Forward-Looking
StatementsNeither 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.
Eagle Plains Resources (PK) (USOTC:EGPLF)
과거 데이터 주식 차트
부터 3월(3) 2025 으로 4월(4) 2025
Eagle Plains Resources (PK) (USOTC:EGPLF)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 4월(4) 2025
