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Eagle Plains Acquires “Ringer” Property In North-western British Columbia

Stocks in this article: EPL

Eagle Plains Resources (TSX-V:EPL) (Pink Sheets:EGPLF) has acquired a 100% interest through staking of a 33,000 ha (33sq km) land block located 80km south of Atlin, B.C., along the proposed Tulsequah Chief mine access road. The project has been named “Ringer” and includes a significant portion of prominent regional fault structures known to be related to past gold producers in the area. Staking activity followed research which revealed anomalous stream-sediment sample results in the area. A $100,000 grass-roots exploration program is planned for the property during the 2012 field season.

The Ringer Property was targeted based on the following prospective elements:

  • Bounded by major crustal-scale faults with on-strike historical mining operations: e.g. Tulsequah Chief, Engineer Mine and Thorn prospect ( readers are cautioned that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the Ringer property).
  • Geologic scenarios promising for multiple deposit types: i.e. structurally hosted Au veins, stratabound volcanogenic massive sulphides (VMS), Carlin and porphyry-related deposits.
  • Highly anomalous RGS results for copper and precious-metal pathfinder elements including antimony, arsenic, mercury and lead.
  • Proposed Tulsequah mine haul road transects the Ringer Property.

Geology

The property is bound by two crustal-scale NE-trending faults: the Nahlin fault to the NE, and the Llewellyn fault to the SW. The latter marks a major terrane boundary between Paleozoic to Mesozoic Coast Belt rocks, including the Boundary Ranges Metamorphic Suite, from Paleozoic volcanic and sedimentary rocks of the Stikine Terrane to the NE. The Stikine assemblage volcanic rocks in the area are host to the Tulsequah Chief (Zn-Cu-Pb-Ag-Au) deposit and the New Polaris (Au-Ag-Cu-Sb) mine. This assemblage includes a significant limestone marker bed, known as the Sinwa Formation. In the Ringer property area, this formation is associated with the King Salmon fault, and numerous Hg, As+-Sb RGS anomalies. Historical work in the region identified this unit as prospective for Carlin-style mineralization. The above lithologies are cut by Late Cretaceous to Tertiary intrusions and Eocene plugs, dykes and associated volcanic and sedimentary derivatives of the Sloko Group. Sloko Group assemblage rocks are host to high-grade gold-bearing epithermal-style veins at the Engineer Mine, and to Mo-Cu+-Au porphyry-style mineralization at the Titan property, both located 70 km to the NW, along Tagish Lake.

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