Eagle Plains Acquires Additional Claims at Ice River Rare Earth (“REE”) Project, Southeastern British Columbia
Eagle Plains Acquires Additional Claims at Ice River Rare Earth (“REE”)
Project, Southeastern British Columbia
Cranbrook, B.C., February 9th, 2021: Eagle Plains Resources (TSX -V:EPL) has completed staking
activity, adding 141ha to the 2170ha Ice River Project located 45 km east of Golden, British Columbia,
Canada. The property is owned 100% by Eagle Plains (with no underlying royalties) and overlies the Ice
River Complex (IRC), recognized as one of the largest and best-preserved alkaline ijolite/syenite/
carbonatite complexes in the world and host to occurrences of rare earth element s (REE), niobium (Nb),
and precious metals. Eagle Plains has been active in the IRC since 2005, with the last systematic exploration
on the property in 2012.
Three main targets exist on the property:
• REE mineralization
• Niobium (Nb) mineralization in sodalite-syenite dykes
• Base-metal mineralization and associated REE- stratabound sulphide mineralization
See Ice River property summary map here
Ice River Summary
The Ice River Complex has been the focus of both economic and academic work since its discovery in the
early 1900’s. Mineral collectors have long been drawn to the area which is known for its sodalite-bearing
syenites and specimen quality zeolites. A number of base and precious metal showings are known in the
contact aureole of the IRC. Field work on the property by E agle Plains since 2005 has established a
widespread spatial distribution of REE and Nb mineralization. Rock sampling over a 5.6 km length of the
IRC returned Total Rare-Earth-Elements (TREE) in excess of 34300 ppm with 66 samples returning greater
than 3000 ppm TREE. Thirty-seven of the samples returned greater than 600 ppm Nb, with the best sample
returning 3923 ppm Nb.
Geological mapping and rock channel-chip sampling within property boundaries has established an REE-
mineralized stratabound zone of replacement -style mineralization exposed over 100 m thickness (true
thickness calculated at 65m), with more than 900m of sampled strike-length.
The last systematic exploration of the property was in 2012 by optioner Waterloo Resources who continued
exploration for REE, base-metals and Nb mineralization, and associated replacement mineralization in host
Cambrian to Ordovician limestone s. Systematic prospecting resulted in the discovery of a new REE
showing, the Yippie. 100m of continuous channel & chip samples at the Yippie Showing returned an overall
weighted average of 2209 ppm TREE over 61.4 m true thickness. The best zone of continuous
mineralization between 9m and 55m returned 4174 ppm TREE over 24.41m true thickness. This zone
included seven 2m sample intervals over 5000 ppm TREE, with a best sample interval of 12815 ppm TREE.
Analytical results obtained by Eagle Plains and Waterloo range from trace to the values noted above.
Recommendations for the property include ground -based mapping and prospecting to refine the location
and extent of REE, Nb, base - and precious -metal targets along this 5+ kilometer stratigraphic marker
horizon. REE and Nb-bearing rocks are considered to be attractive drill targets in the vicinity of the Yippie
showing.
Charles C. Downie, P.Geo., a “qualified person” for the purposes of National Instrument 43-101 - Standards
of Disclosure for Mineral Projects, and a Director of Eagle Plains Resources Ltd., has prepared, reviewed,
and approved the scientific and technical disclosure in this news release.
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. 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. In addition, Eagle Plains co ntinues to seek out and secure high -
quality, unencumbered projects through research, staking and strategic acquisitions. Throughout the
exploration process, our mission is to help maintain prosperous communities by exploring for and
discovering resource op portunities while building lasting relationships through honest and respectful
business practices.
Expenditures from 2011-2020 on Eagle Plains-related projects exceed $22M, most of which was funded by
third-party partners. This exploration work resulted in approximately 37,000 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
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 there fore, involve inherent risks and
uncertainties. Actual results may differ materially from those currently anticipated in such statements.