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Eagle Plains/Providence Capital Commence Drill Program on Iron Range Project, South-eastern British Columbia
Eagle Plains/Providence Capital Commence Drill Program on Iron Range Project, South-eastern Briti...
About this update from Gunnison Copper Corp.
[{"type":"text","content":"\nEagle Plains/Providence Capital Commence Drill Program on Iron Range Project, South-eastern British Columbia\n\n\n Sep. 21, 2010 (Filing Services Canada) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTCBB_Pink_Sheets), and Providence Capital Corp. (TSX-V:PV) have mobilized crews and equipment and commenced a 4-hole, $200,000 diamond drilling project on Eagle Plains' 100% owned Iron Range project located in the Goat River area 15 kilometers northeast of Creston, B.C.  Providence has the option to earn a 60% interest in the Iron Range property.Iron Range Project SummaryThe Iron Range property consists of 20,000 hectares and has no underlying royalties or encumbrances.  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 25km of the structure, with significant iron-oxide mineralization occurring over 15km.  Copper and gold mineralization have recently 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.com/projects/bc/ironrange/ Property HistoryThe 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 trenchi...