Business
Eagle Plains Commences Drilling Program at Yellowjacket Gold Project
Eagle Plains Commences Drilling Program at Yellowjacket Gold Project
About this update from Giyani Metals Corp
[{"type":"text","content":"\nEagle Plains Commences Drilling Program at Yellowjacket Gold Project\n\n\n Sep. 17, 2010 (Filing Services Canada) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTCBB_Pink_Sheets), has mobilized crews and equipment to commence a 2000-2500m drilling program on its 100% owned Yellowjacket Gold Project located near Atlin, BC.  The program will consist of approximately 50 reverse-circulation (\"RC\") drill holes targeting gold mineralization within the Yellowjacket Zone, within an area targeted for future excavation and development.  Additional mapping and sampling is also being carried out in the Rock of Ages Zone, where two historic shafts have recently been exposed during ongoing placer mining activity.  A budget of $450,000 has been set for the program which is expected to take 3-4 weeks to complete.The Yellowjacket Project is located 9 km east of Atlin, BC and is accessed by all-season road. Hydro-electric power is located within 5km of property boundaries. The project received a B.C. Mines Act permit in July, 2009 for an open pit gold mine and onsite 400 tpd mill and concentrator, processing up to 75,000 tons per year. The Permit contemplates a 7-9 year mine life from a series of open pits entirely within an area of disturbed placer workings. The gold is recovered using a simple gravity concentrating recovery plant without the use of chemicals or additives.  Eagle Plains owns both mineral (hard-rock) and placer rights within the Project area. In October 2009, Eagle Plains and Prize announced the formal ratification of an Impact and Benefits Agreement with the Taku River Tlingit First Nation. The property is known to host significant gold mineralization. Gold is erratically distributed throughout the Yellowjacket structure such that accurate exploration and economic assessment of the property is challenged by a pronounced \"nugget effect\". C.C. (Chuck) Downie, P.Geo, VP Exploration, Eagle Plains Resources and Project Manager for the Yellowjacket Venture states: \"Going forward we need to focus on better definition of the Yellowjacket Zone in terms of near surface grade and tonnage through detailed chip sampling and shallow drilling. Expansion of the east pit indicates that the mineralized zone extends into areas that have not been tested by any diamond drilling and a better...