Eagle Plains’ Partner Rockridge Resources Plans Upcoming Fully Funded Exploration and Drill Program at the Knife Lake Copper Project, Saskatchewan
Eagle Plains’ Partner Rockridge Resources Plans Upcoming Fully Funded
Exploration and Drill Program at the Knife Lake Copper Project,
Saskatchewan
Cranbrook, B.C., March 31st, 2022: Eagle Plains Resources (TSX-V:EPL) is pleased to announce that
option partner Rockridge Resources Ltd. (TSX-V: ROCK) (OTCQB: RRRLF) (Frankfurt: RR0)
(“Rockridge”) plans for an upcoming Summer 2022 drill program at the Knife Lake Copper Project VMS
Project located in Saskatchewan, Canada (the “Knife Lake Project” or “Property”). Using the results and
interpretation from the Fall and Winter 2021 field programs, as well as the 2021 drill program, the upcoming
program will target the Gilbert West and Gilbert South zones in addition to continued infill and expansion
drilling at the deposit. Rockridge is fully funded for this upcoming exploration and drilling having recently
closed a financing. The Knife Lake Project, consisting of 82 claims totaling 56,865 hectares (140,516
acres), is an advanced -stage copper, silver, zinc and cobalt exploration property in Saskatchewan host to
the Knife Lake Deposit.
Rockridge holds the exclusive o ption from Eagle Plains to acquire a 100% interest in the Property th at
covers the Knife Lake Cu-Zn-Ag-Co VMS deposit (details following). The contiguous claims are located
approximately 50 km northwest of Sandy Bay, Saskatchewan. A 357kV powerline runs within 16 km of
the Knife Lake Deposit area.
See Knife Lake VMS Project Location Map here
Rockridge’s CEO, Jonathan Wiesblatt, commented: “Exploration at Knife Lake, specifically at the target
areas outside of the exis ting resource, offer compelling discovery potential as there has been limited
historical work done on these highly prospective targets. Getting back to Knife Lake and conducting a
thorough drilling campaign focused on the Gilbert West and Gilbert South zones is a priority for Rockridge
as well as expanding and upgrading the resource at Knife Lake. The project remains an exciting exploration
story that can offer investors exposure to a top mining jurisdiction and to commodities in high demand and
short supply such as copper and zinc. We look forward to updating our shareholders as we prepare and
work towards commencing the upcoming work at Knife Lake.”
Rockridge received and previously announced results from a field program completed in October of last
year. A two-person field crew was mobilized to complete mapping and prospecting at regional target areas,
investigating conductivity and magnetic anomalies identified through the Phase I (Winter 2021) and Phase
II (Fall 2021) airborne geophysical programs (VTEM).
See Knife Lake Project VTEM and Grab Sample Survey Map here
A total of 29 samples were s ubmitted for assay, 26 samples from regional targets and 3 confirmation
samples from historic trenches at the Knife Lake Deposit. Two samples collected from historic trenches at
the Knife Lake Deposit returned significant results and are summarized in the table below.
Sample ID Au Ag Cu Co Zn
(g/t) (g/t) (%) (%) (%)
OMKFR006 0.11 4.34 1.60 0.01 0.10
OMKFR007 0.70 15.45 4.06 0.01 0.55
*Rock grab samples are selective and not necessary representative of the mineralization throughout the
deposit
Prospecting on the west side of the Gilbert Lake target identified altered volcanic and green pegmatite
lithologies consistent with the host rocks at the deposit, indicating continuity of favourable stratigraphy
approximately 10 km west of the deposit. Field geologists reported visual confirmation of trace interstitial
chalcopyrite hosted within the green pegmatite interval.
Plans for Upcoming Diamond Drilling Program
The drill program at the Gilbert North and South target areas in 2021 was designed to evaluate conductivity
and magnetic anomalies identified during the early 2021 airborne VTEM Plus survey and corresponding
surficial geochemical anomalies. It was the firs t modern drill program that tested these target areas and
several drill intercepts included pyrrhotite -pyrite dominant VMS -style mineralization hosted at the same
stratigraphic horizon as the Knife Lake Deposit. Following the initial drilling at the Gilbert North and South
targets a Borehole Electromagnetic survey of all holes at the Gilbert North and South target areas was
completed to refine future drill targets which will be tested in this upcoming program. Furthermore,
previous surficial work programs h ave indicated that the stratigraphic position of the targeted anomalies
correlates with the Knife Lake Deposit to the east. The discovery potential at the broader 15 km Gilbert
trend is robust and warrants follow up work which is being planned in this upcoming program. Rockridge
continues to utilize modern exploration techniques and methods with the goal of making new discoveries.
See Knife Lake Target Areas 2022 Drill Program Map here
Drill targeting for the fully funded 2022 diamond drill program is currently underway and management is
assessing high priority targets that include additional drill testing in the Gilbert South Area. The planned
holes will further investigate strike-length continuity of the mineralized horizon intersected in 2021 drilling,
which remains open to the south. The holes will also evaluate potential zoning of mineralization, which is
commonly observed in VMS systems. Additional holes at a newly discovered copper showing at the Gilbert
West Area are also being considered. The holes will target the down -dip extension of a mineralized and
intensely altered volcanic package which is interpreted to be the Knife Lake stratigraphic horizon . The
Gilbert West target has never been drill tested. The Company is also evaluating drill targets at the Knife
Lake deposit with the intention of testing deeper targets below the existing deposit and infill drilling to
upgrade inferred resources to indicated resources.
Knife Lake Geology and History
The Knife Lake Deposit is interpreted to be a remobilized VMS deposit. The stratabound mineralized zone
is approximately 15m thick and contains copper, silver, zinc, gold and cobalt mineralization which dips 30°
to 50° eastward over a known strike -length within Rockridge’s claim area of 3,700 metres, and a known
average down-dip extension of approximately 300 metres.
See Knife Lake Deposit Map here
The deposit is hosted by felsic to intermediate volcanic and volcaniclastic rocks which have been
metamorphosed to upper amphibolite facies. The deposit contains VMS mineralogy which has been
significantly modified and partially remobilized during the emplacement of granitic rocks. The
mineralization straddles the boundary between two rock units and occ urs on both limbs of an interpreted
overturned fold.
Rockridge has completed twenty-four holes consisting of 3096 metres of diamond drilling in the 2019 and
2021 winter drilling programs. This represented the first drilling on the property since 2001. Both programs
have given Rockridge’s technical team valuable insights into the property geology, alteration, and
mineralization that will be applied to future regional exploration on the highly prospective and
underexplored land package.
Highlights from the drill programs include previous ly reported hole KF19003 which intersected net -
textured to semi-massive sulphide mineralization from 11.2m to 48.8m downhole. This 37.6 metre interval
returned 2.03% Cu, 0.19 g/t Au, 9.88 g/t Ag, 0.36% Zn, and 0.01% Co for an estimated 2.42% CuEq.
In August 2019, Rockridge announced a maiden NI 43 -101 resource estimate for the Knife Lake deposit
which consisted of a pit-constrained indicated resource of 3.8 million tonnes at 1.02% CuEq and an inferred
resource of 7.9 million tonnes at 0.67% CuEq using a 0 .4% CuEq cut-off. For more information , please
refer to the News Release dated August 14 th, 2019 or the NI 43 -101 Technical Report on the Mineral
Resource Estimate for the Knife Lake Property, Saskatchewan dated September 27, 2019, filed on Sedar.
Knife Lake Option Agreement Details
To earn a 100% interest in the Knife Lake Project, Rockridge has agreed to make a cash payment to Eagle
Plains of $150,000 (complete), issue up to 5,550,000 common shares of Rockridge (4,550,000 shares issued
to date) and complete $3,250,000 in exploration expenditures over four years. Eagle Plains will retain a 2%
net smelter royalty (“NSR”) on certain claims which comprise the project area. Under the terms of the
agreement Rockridge is designated as the Operator of the project.
Qualified Person
Kerry Bates, P. Geo., a “qualified person” for the purposes of National Instrument 43 -101 - Standards of
Disclosure for Mineral Projects, and a Geologist employed by Eagle Plains Resources, has reviewed and
approved the scientific and technical disclosure in this news release relating to the Knife Lake Project.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains is a well-funded, prolific project generator that continues to conduct
research, acquire and explore mineral projects throughout western Canada. The Company was formed in
1992 and is the ninth-oldest listed issuer on the TSX-V (and one of only three that has not seen a roll-back
or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years a nd
through numerous spin -outs, has transferred approximately $95,000,000 in value directly to its
shareholders, with Copper Canyon Resources and Taiga Gold being notable examples.
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. Eagle Plains also holds significant royalty interests in western Canadian projects, covering
a broad spectrum of commodities. Management’s focus is to advance its most promising exploration
projects. Throughout the exploration process, our mission is to help maintain prosperous communities by
exploring for and discovering resource opportunities while building last ing relationships through honest
and respectful business practices.
Expenditures from 2011-2021 on Eagle Plains -related projects exceed $2 7M, the majority of which was
funded by third -party partners. This exploration work resulted in approximately 42,000m 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
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: [email protected] or visit our website at http://www.eagleplains.com
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.