Eagle Plains Resources Ltd.

Description

The Iron Range Fault system represents a major structural feature that is markedly different from other structures in the region in terms of deformation and alteration. Structural, mineralization and alteration relationships indicate that the property has potential for both Sullivan type sedimentary-exhalative deposits (SEDEX) and Olympic Dam type Cu–Au-U-REE (IOCG) deposits. The nearby Sullivan deposit was a world class silver-lead-zinc deposit which saw continuous production for over 100 years, closing in December, 2001 while the Olympic Dam deposit in Australia is known as the world’s largest multi-mineral ore deposit. The mineralized zone on the Iron Range Property is exposed over approximately 4 kilometers strike length and is up to 150 meters wide.

The original Iron Range prospect was discovered and staked in 1897 along an extensive belt of iron oxide showings. In 1939, The Consolidated Mining and Smelting Company of Canada Ltd., along with its parent company Canadian Pacific Railroad (CPR), acquired many of the historic Crown Grants on the northern part of Iron Range Mountain. The claims were evaluated by CM&S (later Cominco Ltd., then Teck Cominco Ltd, and now Teck Ltd.), to assess the potential for a large iron resource. In 1957 Cominco Ltd. completed an extensive trenching program exposing the Iron Range structure and mineralization over more than 4 kilometers strike length. Most of the Iron Range Crown Grants were held by Cominco – CPR until 1999, when they were reverted after being held privately for over 100 years. Eagle Plains Resources Limited re-staked the original Crown Grants on the day they lapsed.

A type of base metal deposit known as a SEDEX (Sedimentary Exhalitive) is one of our specialities as they can be very large and rich such as the Sulivan Mine located in Kimberley, B.C., 30km north of our headquarters in Cranbrook.

Eagle Plains Resources Ltd. (EPL: TSX-V) is a junior exploration company operating in western Canada.

MMG Canada Exploration Inc is a subsidiary of MMG Limited - a mid-tier global resources company which explores, develops and mines base metal projects around the world. It is headquartered in Melbourne, Australia and listed on the Hong Kong Stock Exchange (Stock Code: 1208).

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