RE:Iron Ridge PropertyGrassy is hoping for early 2015 drilling on the enigmatic Talon zone.
"SANTA FE/EAGLE PLAINS COMPLETE HEAVY MINERAL CONCENTRATE SAMPLING, DATA COMPILATION WORK AT IRON RANGE
Eagle Plains Resources Ltd.'s option partner, Santa Fe Metals Corp., has completed 2014 exploration activity on EPL's 100-per-cent-owned Iron Range project, located near Creston in southeastern British Columbia. SFM holds the exclusive right to earn a 60% interest in the 69,000 ha property. The Iron Range project is considered by Santa Fe and Eagle Plain's management to hold considerable potential for world-class Iron Oxide Copper Gold (IOCG) and "Sullivan Style" sedimentary exhalative ("SEDEX") base- and precious-metal mineralization.
2014 Program Highlights
Compiled 117 years of exploration data in a single GIS database (containing: 20,202 soil samples, 585 rock samples, 4,336 line-km of geophysical data from 7 individual surveys and 80 drill holes totalling of 20,300-m)
Identified three distinct high-priority target areas (Car, Canyon/Talon and Golden Cap)
Completed 3-D modeling for Talon Zone
Conducted Heavy mineral concentrate (HMC) sampling over specific target areas
Acquired additional tenures
A well-developed transportation and power corridor transects the southern part of the property, including a high-pressure gas pipeline and a high-voltage hydro-electric line, both of which follow the CPR mainline and Highway 3. The rail line provides efficient access to the Teck smelter in Trail, B.C., located 80km to the west. The Iron Range property has a storied past with exploration dating back to 1897 when Cominco and the Canadian Pacific Railway acquired the first crown grants on Iron Mountain to evaluate the potential for an iron ore deposit. Advances in geological modeling have revealed that portions of the Iron Range property also have excellent potential to host SEDEX-type deposits and exhibit many geological similarities to the Sullivan deposit, located 90 km to the north. The Sullivan Mine was discovered in 1892 and is one of the largest SEDEX deposits in the world. Over its 100+ year lifetime, Sullivan produced almost 300 million ounces of silver, 36 billion pounds of lead, zinc and other associated metals, collectively worth over $40B at current metal prices. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the Iron Range property. Drilling at Iron Range in 2010 resulted in the discovery of the Talon Zone, where drill-hole IR10-010 intersected 2 intervals of strong and continuous mineralization including 14.0m grading 5.1 g/t gold, 1.86% lead, 2.1% zinc, 75.3 g/t silver and 7.1m grading 8.13 g/t gold, 2.84% lead, 3.07% zinc, 86.6 g/t silver (EPL news release December 21st, 2010). Previous drilling 10km north of the Talon Zone in 2008 by EPL intersected gold mineralization in drill-hole IR08006, which assayed 7.0m grading 51.52 g/t (1.50 oz/ton) gold.