CRANBROOK, BC / ACCESSWIRE / June 25, 2019 / Eagle Plains Resources Ltd. (EPL:TSX-V) has completed continuing exploration activity on its 100%-owned K9 Property located 30 km west of Kimberley, B.C. Target mineralization on the Property is stratabound massive sulphides (copper/silver/lead/zinc). Past exploration by Eagle Plains identified a mineralized corridor which includes a strong 1.5 km-long soil geochemical anomaly associated with anomalous airborne geophysical features. 2019 exploration activity consisted of the collection of 217 B-horizon soil samples over a total of 5.4 line-km.
K9 Project Summary, History
The K9 claims were acquired by Eagle Plains in 1995 and cover a steeply-dipping package of sedimentary rocks of the Proterozoic Creston and Kitchener Formations. Tenures surround the historical Great Dane crown grants. Mineralization discovered to date consists of vein-hosted high-grade silver/lead and sediment-hosted massive sulphides (copper/pyrrhotite) within Creston Formation rocks.
In the early 1900’s, miners drove a 100m tunnel at the Great Dane to exploit a 1.8m wide stratabound lens of silver-bearing lead-zinc-copper sulphides. Channel sampling of this mineralization in the mid 1980’s returned values including 20.29 ounces per ton silver, 2.00% Cu, and 61.50% lead across a width of 0.6m, 18.2 ounces per ton silver and 45.40% lead across 0.6m and 10.12 ounces per ton silver and 32.60% lead across 0.5m (BCMEMPR AR 15309). Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the K9 property.
Early work by Eagle Plains identified a 7.0m-deep shaft sunk within a 2.7m-wide iron-rich massive sulphide lens located approximately 2.5km north and on strike with the Great Dane adit. Grab samples of the mineralized material returned values of up to 27.6 g/t Ag and 2.13% Cu. The 1996 work also delineated a strong, 1.5 km-long geochemical anomaly which suggests that one or more mineralized horizons may be present within the property area. Results from an airborne geophysical survey flown in 2006 by Eagle Plains indicate a number of anomalous electromagnetic responses which appear to be related in part to the known mineralized zones. These zones remain untested by drilling.
Update on Vulcan Property Work
A ground-based geophysical program on EPL’s 100%-owned Vulcan Project announced on May 28th, 2019 has been successfully completed. SJ Geophysics of Surrey, B.C. acquired data from a combined DC resistivity/induced polarization (“IP”) and scalar magnetotelluric (MT) survey over approximately 3.0 line-km. The survey was designed to cover the Sullivan time-horizon in order to define priority drill targets. Results of this work will be available once final processing and reporting has been completed.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains continues to conduct research, acquire and explore mineral projects throughout western Canada. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team. Managements’ current focus is to preserve its treasury while advancing its most promising exploration projects. In addition, Eagle Plains continues to seek out and secure high-quality, unencumbered projects through research, staking and strategic acquisitions. Since 2012, Eagle Plains has added to its portfolio a number of new projects exceeding 130,000 ha targeting mainly gold, uranium and base-metals in Saskatchewan, a highly-prospective mining jurisdiction which was recently recognized by the Fraser Institute as the second best place in the world in terms of Investment Attractiveness. Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.
Expenditures from 2011-2018 on Eagle Plains-related projects exceed $20M, most of which was funded by third-party partners. This exploration work resulted in approximately 30,000 m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.
On behalf of the Board of Directors
“Tim J. Termuende”
President and CEO
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Eagle Plains Resources Ltd.
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