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Eagle Plains And Providence Commence Drilling On The Iron Range Project

Stocks in this article: EPL

Eagle Plains Resources (TSX-V:EPL)(Pink Sheets: EGPLF) and Providence Resources Corp. (TSX-V: PV) are pleased to announce that drilling has started on their Iron Range JV project located near Creston, British Columbia. FB Drilling has been retained to complete 8 to 10 diamond drill holes (3,000 meters) in the Canyon, Row, 6 Mile, and Arrow East target areas.

The objective of the drill program is to test high-priority target areas for Sullivan-style lead-zinc-silver mineralization as well as gold mineralization similar to that intersected in the 2010 Talon Zone gold-silver-lead-zinc discovery. Exploration drilling will be executed according to the table below.

                       
No. Meters Target Target Comments
Holes             Area       Type      
5       1,100       Canyon       Gold-Lead-Zinc-Silver       2km by 2km arsenic + lead and zinc anomalies
3       900       Talon       Gold-Lead-Zinc-Silver      

Southern margin of Canyon Zone, drill test

IP geophysical anomalies associated with

and along strike of Talon Zone.

3       1,100       Row       Lead-Zinc-Silver      

5 kilometer-long lead+zinc soil anomaly. 3

VTEM geophysical anomalies are slated for

drill-testing.

 

Iron Range Exploration Highlights

  • Talon Zone Gold-Lead-Zinc-Silver Discovery (2010-2011)
  • Talon Zone Surface IP Survey (2011)
  • Historical Soil Survey compilation including over 14,000 soil samples (2011)
  • VTEM and ZTEM Airborne Geophysical Surveys (2012)
  • Completion of Fugro Airborne Gravity Survey (results expected April, 2012)
  • Geological Compilation refined location of Aldridge Lower Middle Contact (2011)

2012 Exploration Program

The objective of the Phase 1, 2012 program is to systematically evaluate all existing exploration data, including newly-acquired geophysical data, followed by field evaluation of all resulting anomalies, and ultimately drill testing the highest priority targets.

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