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Diamond Drilling to Commence Immediately
on Abo (Harrison Gold) Project
Cranbrook, B.C.: Eagle Plains Resources
Ltd. (EPL:TSX-V) has received notice from Northern
Continental Resources Ltd. (NCR:TSX-V) that permits are in place
for work on the Abo (Harrison
Gold) Project (the Property)
on Bear Mountain near Harrison Hot Springs in south-western
British Columbia. The work program, currently underway
will consist of road maintenance, rehabilitation of
the adits (Jenner and Portal) and diamond drilling on
the Hill Zone intrusion. Seven zones have been identified
on the Property to date, namely the Jenner, Portal,
Hill, Breccia, Lake, Bear and Bluff. Previous work was
focused mainly on the northern part of the Property
in the area of the Jenner and Portal intrusions. Drill
results reported from the Portal Zone include 30 meters
averaging 3.17 g/t Au in drill hole PT88-88. Drill hole
84-28 from the Jenner Zone assayed 64 meters averaging
3.77 g/t Au. The Property Report by Price (2002) prepared
to National Instrument 43-101 guidelines, outlines an
indicated resource of 1.845 million tonnes grading 2.79
g/t Au containing 165,000 ounces of gold and an inferred
resource of 0.6 million tonnes grading 2.8 g/t Au containing
55,000 ounces of gold in the Jenner and Portal zones,
which are open to depth. The Hill, Breccia, Lake, Bear
and Bluff zones have had very limited exploration work.
The Property Report draws analogies between the mineralization
seen the Abo Property with the intrusion related gold
deposits (such as Fort Knox in Alaska) in the Tintina
gold belt.
Northern Continental’s drill plans will follow
on strike and down dip of drill hole intercepts on the
Hill Zone intrusion where drill hole intercepts of 27
meters grading 3.3 g/t Au in drill hole 88-130 and 7
meters of 3.09 g/t Au in drill hole 88-127 were obtained
from the intrusion and associated Breccia Zone. If warranted,
a resource estimate will be made for the mineralization
intersected in these zones.
The Property area has been held or optioned by various
operators since the early 1970’s including Abo
Resources Ltd., Kerr Addison Mines Ltd. and Bema International
Resources Ltd. Exploration work 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 including
mining 643 tons of ore yielding 979 ounces of gold with
an average grade of 47.4 g/t Au (1.38 oz/ton Au) from
the Portal Zone. New anomalies identified in an airborne
geophysical survey flown by Eagle Plains in 2001 will
also be followed up and prepared for drilling.
The Abo Gold Project is a joint venture between
Eagle Plains and Northern Continental whereby NCR has
an
option to earn a 60% interest in the Property from EPL
by spending
$3,000,000 on exploration and issuing 1.7M shares
(see News Release August 20th, 2002). The Property is
road-accessible
year-round with excellent infrastructure. Hydroelectric
power, natural gas and rail-service are located within
3km of the Property boundaries. Click here to view
the Price Report in pdf format.
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, P.Geo.
President and CEO
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