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Eagle Plains Commences Drilling on Vulcan Project, Southeastern B.C., Issues Incentive Options
CRANBROOK, BC / ACCESSWIRE / May 29, 2020 / Eagle Plains Resources Ltd. (TSXV:EPL) has com...
About this update from Eagle Plains Resources Ltd.
[{"type":"text","content":"Eagle Plains Commences Drilling on Vulcan Project, Southeastern B.C., Issues Incentive OptionsCRANBROOK, BC / ACCESSWIRE / May 29, 2020 / Eagle Plains Resources Ltd. (TSXV:EPL) has commenced diamond drilling on its Vulcan silver-lead-zinc property. The 8220 ha Vulcan claims are owned 100% by Eagle Plains and carry no underlying royalties or encumbrances. A single drill hole up to 700m (2,300') is planned to test a coincident soil geochemical anomaly, Induced Polarization (I.P.), Versatile Time Domain Electromagnetic (\"VTEM\") and Magnetotelluric (\"MT\") geophysical conductors located at or near the interpreted geological time horizon that hosts the nearby Sullivan Deposit. Following completion of the hole a down-hole electromagnetic (‘EM\") geophysical is planned to test the areas adjacent the drill hole at depth. Drilling activity is expected to take 2-3 weeks to complete.Vulcan Project SummaryManagement of Eagle Plains considers the Vulcan project to hold excellent potential for the presence of Sullivan-style lead-zinc-silver sedimentary-exhalative (\"sedex\") mineralization such as that at the world-class Sullivan Mine, located 30km to the east. Rocks underlying Vulcan are within the same sedimentary sequence and host mineral occurrences with mineralization and alteration styles similar to those observed at and adjacent to the now-depleted Sullivan deposit. The Main (Hilo) mineral occurrence at Vulcan returned up to 1.6 % combined lead-zinc over 1.5 metres from rocks near the Lower-Middle Aldridge contact; the same time-stratigraphic horizon which hosts the Sullivan deposit. Drilling is planned for an area located approximately 7km from the Hilo occurrence.The Sullivan mine was discovered in 1892 and is one of the largest sedex deposits in the world. Over its 100+ year lifetime, Sullivan contained a total of 160 million tonnes of ore averaging 6.5% lead, 5.6% zinc and 67 g/t silver, resulting in 298 million ounces of silver, 18.5 billion pounds of lead, 17.5 billion pounds of zinc, and significant quantities of associated metals; collectively worth over $40B at current metal prices. Eagle Plains management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the Vulcan property.Sullivan-style mineralization was first reported in the mid-1950...