Posted in | Silver | Mining Business

Eagle Plains Resources Executes LOI with Minerals and Metals for Findlay Property

Eagle Plains Resources executes letter of intent (LOI) with Minerals and Metals Group (“MMG”) through which MMG has the option to buy 60% interest in Eagle Plains' Findlay, Greenland Creek properties (the “Project”) in south-eastern B.C.

Under the agreement, MMG will earn a 60% interest from the property by making phased cash payments to EPL adding up to $500,000 and concluding $5,000,000 in exploration overheads over 5 years, MMG may purchase 15% interest in addition by carrying out a bankable feasibility study. The Findlay property has Sullivan-style exhalative tourmalinite, anomalous lead, zinc and base metal occurrences. It lies on Aldridge Formation.

Eagle Plains has found number of targets in North Findlay, Greenland Creek and Mid-Fork. The property also has the historic Silver Key Mine that intercepts 3431 g/t silver in average at the structurally controlled narrow quartz veins in the Lower Aldridge Formation.  Eagle Plains and Cominco  develop many Sullivan type drill targets considered to be shallow in the Purcell Basin.

Source: http://www.eagleplains.com/

Joel Scanlon

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Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, web programming, design, animation, database and networking, software and editing. Joel has been with AZoNetwork since its inception in 2000.

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