- Eagle Plains Resources (EPL) announced its final analytical results from its fall drilling program on the Vulcan Project, defining a potential lead-zinc mineralized system
- Three holes intersected a zinc, lead, cadmium, silver, and tin deposit containing the Lower-Middle Aldridge contact
- Continuous mineralization at depths well below the contact was also identified
- Permits for the project have been secured for continued drilling in 2023, with detailed planning currently underway
- Eagle Plains Resources Ltd. (EPL) is down 4.65 per cent, trading at $0.20 per share at 1:15 p.m. EST
Eagle Plains Resources (EPL) announced its final analytical results from its fall drilling program on the Vulcan Project.
All three holes reported in the results intersected a zinc, lead, cadmium, silver, and tin deposit which contained the Lower-Middle Aldridge contact. The same time-stratigraphic horizon hosts the Sullivan deposit.
The second hole, VU22004, of the program suggested it was in close proximity to a lead-zinc mineralized feeder system at depths previously unrecognized. Downhole electromagnetic surveying was done after drilling, and the final results from the geophysical survey are still pending.
From what the company can see so far, this new deposit has “strong geological similarities” to the known Sullivan deposit, as well as the size and scale of the orebody.
Tim Termuende, President and CEO of Eagle Plains, commented,
“Though analytical results from hole VU22004 were sub-economic overall, the stratigraphic location, mineralogy and geological significance of our findings cannot be overstated.”
Continuous mineralization at depths well below the Lower-Middle Aldridge contact was also identified. As a result, the company intends to review all available historical drill cores related to the Vulcan property, as most historical hole depths were still above the mineralized intervals intersected in hole VU22004.
Eagle Plains stated its future exploration of the project will be guided by its re-interpretation of the geology. Permits have been secured for continued drilling in 2023, with detailed planning currently underway.
Eagle Plains Resources Ltd. (EPL) is down 4.65 per cent, trading at $0.20 per share at 1:15 p.m. EST.