Business
Eagle Plains/Providence Capital Provide Update on Drill Program at Iron Range Project, Southeastern BC
Eagle Plains/Providence Capital Provide Update on Drill Program at Iron Range Project, Southeaste...
About this update from Gunnison Copper Corp.
[{"type":"text","content":"\nEagle Plains/Providence Capital Provide Update on Drill Program at Iron Range Project, Southeastern BC\n\n\n Dec. 1, 2010 (Filing Services Canada) -- Eagle Plains Resources Ltd. (EPL - TSX Venture, EGPLF - OTCBB_Pink_Sheets), and Providence Capital Corp. (TSX-V:PV)  have now completed ten diamond drill holes for a total footage of 10,945 feet (3,337m). Drilling activity has been suspended pending receipt of analytical results, but is expected to resume following the Christmas holidays. The partners continue to test the stratigraphic interval known to host the Sullivan deposit, located 70km to the north. Current work is targeting both precious metal and base metal mineralization and is funded by Providence Capital under terms of an option agreement.The partners are encouraged by observations made to date of existing drill-cores.  Hole IR10-05 encountered wide, intermittent intervals from surface to a depth of 278m containing breccia textures and intensive silica and albite alteration. Associated sulphide mineralization includes iron sulfides and arsenopyrite (a mineral often associated with gold). Intervals 148.0m to 163.0m (15.0m) and 270.0m to 278.0m (8.0m) were particularly enriched with lead-zinc sulphide mineralization. Hole IR10-07 returned similarly altered and mineralized material from 142.0m to 155.0m.  Hole IR10-10 hosted the most intensely-altered and mineralized material, with semi-massive to massive sulphide mineralization including galena (lead) and sphalerite (zinc) reported over two intervals from 191.0m to 202.0m and from 276.0m to 279.0m. The lower massive sulphide interval is overlain by a 55m zone of disseminated to net-textured mineralization within intensely altered rock. The base of the lowermost massive sulphide appears to be truncated by a fault. Significant in the lower interval was the location of the massive sulphide mineralization, which is interpreted to be at or near the Lower-Middle Aldridge contact, the stratigraphic horizon which hosts the Sullivan deposit. The hole was terminated in rocks interpreted to be of the Lower Aldridge Formation. A portion of the altered material from Hole IR10-05 was sent for rush assay analysis in order to confirm the presence of suspected gold mineralization. The interval from 62.5m-89.5m returned 0.64 g/t over 27m, including: * 74.5m ...