Eagle Plains Resources (EPL-V) Aug 13, '14 field crews have been mobilized to commence exploration activity on the company's 100-per-cent-owned North Truscott and South Truscott properties, located 125 kilometres northeast of La Ronge, Sask. Acquired by staking for their gold potential, the discovery in 2012 of kimberlite-hosted diamonds at North Arrow Minerals' nearby Pikoo property also highlights the areas' diamond potential. 2014 exploration work is designed to test both gold and diamond-related target areas.
Please follow the link below for a location map of the property areas: eagleplains.com
North Truscott – 14,600 ha: The North Truscott property is approximately 22 km x 8 km in area and is contiguous with Claude Resources’ Seabee gold mine. The Seabee deposit is located 10 km south and has produced over 1 million ounces of gold with a reported head grade in 2011 of 5.68g/t. Historical grab samples of shear-hosted quartz veins within the Truscott claims returned up to 6.9 g/t) Au and 0.68% Cu (SMDI 2255), with numerous on-strike and parallel fault systems (possibly related to the Seabee deposit), in addition to coincident As and Hg lake-sediment geochemical anomalies.
South Truscott (Kettle Falls) – 3,430 ha: This property is underlain by a similar geological setting to the North Truscott property, and is located 18 kilometres southeast of Claude Resources’ Santoy deposit. Gold and copper mineralization in sheared metavolcanics and granodiorite is reported from four known showings on the property. Fieldwork completed by Eagle Plains in 2013 resulted in the discovery of gold mineralization which graded up to 9.19 g/t Au
Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the North and South Truscott properties.
2014 Proposed Exploration Work:
The 2014 work will follow-up on a recently completed data compilation and 2013 field results. Soil geochemical surveys at 25- 50m spacing will be completed at North and South Truscott properties, with focused prospecting and structural mapping near the 2013 gold discovery zone at the South Truscott. Lake-sediment and till samples will be collected in an effort to better establish the diamond potential of the property area.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains continues to conduct research, acquire and explore mineral projects throughout western Canada. Since 1992, EPL has been acquiring and developing early-stage projects utilizing an in-house team of geologists, technicians and specialists. Considered a prolific project generator with over 40 properties, EPL invites joint-venture participation to expedite development, reduce risk and enhance exposure to discovery.
Current third-party agreements if maintained to completion will have exposed EPL to over $38M in exploration expenditures, $3.7M cash and 13M shares in partner companies. Completed agreements have yielded over $27M in exploration spending, $1.8M cash to EPL and a total of 22M shares of partner companies.
Expenditures from 2011-2013 on Eagle Plains-related projects were approximately $15M, which was funded by Eagle Plains and for the most part, by third-party partners. This exploration work resulted in approximately 15,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of more than 23 projects at various stages of development.
Technical aspects of this news release have been reviewed and approved by C.C. (Chuck) Downie, P.Geo.
On behalf of the Board of Directors
“Tim J. Termuende”
President and CEO |
