Eagle Plains | South Findlay - Silver, Lead, Zinc & Gems Exploration

South Findlay | (Silver, Lead, Zinc, gems)

Initially part of the larger "North Sullivan Camp" property, this 271-unit (16,450 acre) property is contiguous with the Greenland Creek property and shows excellent potential for hosting Sullivan-type mineralization. The claims are centered 35 km northwest of Kimberley and cover an extensive package of rocks including the same stratigraphic horizon which hosts the Sullivan deposit. Following an extensive exploration program by Kennecott, Eagle Plains in early 1999 entered into an agreement with Rio Algom Exploration Inc. whereby the company could earn a 60% interest in the property by completing $2,000,000 in exploration expenditures and making cash payments of $310,000 to Eagle Plains over four years. Kennecott originally optioned the property in 1996 and in 1997and 1998, spent $1,300,000 on exploration, including four drillholes comprising a total of 5151' (1570m). Rio Algom in 1999 completed sampling and geological mapping, and in 2000, drilled three deep holes for a total of 8400' (2,500m). Following 2000 drilling activity, Rio Algom withdrew from the project.

For more information about the geology and exploration programs, please see the South Findlay Project Details [PDF].

This property is currently optioned to Mineral Metals Group (MMG) which is part of the Minmetals Resources Limited group of companies (HKEx: 1208); MMG is the third largest zinc producer in the world and operates a portfolio of world-class base metal mining operations, development projects and exploration projects. Operating mines include the Century mine in Queensland, Australia's largest open pit zinc mine; the Golden Grove underground mine in Western Australia and the Rosebery underground mine in Tasmania, both of which produce zinc, copper, lead and precious metals; and the Sepon gold and copper operations in Lao. Development projects include the Dugald River zinc, lead and silver deposit in north western Queensland. In Canada, MMG is focussed on development of the Izok Lake polymetallic deposit in Nunavut, as well as systematic exploration in the area of the High Lake and Izok Lake projects. Target commodities include copper, zinc-lead and nickel.

Updated December 19, 2011