Eagle Plains Acquires Dianne Lake Silver Copper Project
Eagle Plains Acquires Dianne Lake Silver Copper Project
Cranbrook, B.C., June 22nd, 2020 : Eagle Plains Resources Ltd. (TSX -V:EPL) (“EPL” or “Eagle
Plains”) has acquired by staking, a block of claims that cover prospective Ag-Cu mineralization. The 4367
hectare Dianne Lake claim group is located approximately 18 km NW of Uranium City , Saskatchewan.
The claims cover 3 Ag-Cu mineral occurrences associated with Tazin Group metasediments and diorites
which are documented in the Saskatchewan Mineral Deposit Index (“SMDI”) . Eagle Plains owns the
project 100%, with no underlying royalties or encumbrances.
Property Geology and Mineralization
At the Dianne Lake (SMDI 1348), Dianne Lake West (SMDI 1347), and Dianne Lake North (SMDI 1356)
occurrences d isseminated stratiform Cu-Ag mineralization is associated with garnet-biotite-chlorite
gneiss. High grade n ative silver occurs with chalcopyrite-chalcocite mineralization in fractures, shears
and breccia zones contained within diorite/granodiorite intrusions.
Grab samples taken by Skeena Consolidated in 1968 returned values of up to 2958 oz/t Ag (sample 9453).
Chip sample results from Consolidated Pine Channel during the most recent work on the property in 1998
include:
Trench # Sample # Sample width (m) Cu % Ag g/t
14 711 1.0 9.3 14.9
1 812 1.0 3.84 56.2
5 824 1.0 4.03 61.7
The property has been tested with 52 drillholes (7000m) in the immediate area of the showing s, with
intercepts including 0.87% Cu and 18.3 g/t Ag over 23m in DDH 1968-25, 0.64% Cu and 128.8 g/t Ag
over 7.3m in DDH 1968 -04 and 0.81% Cu and 43.5 g/t Ag over 8.2m in DDH 1968 -15. A narrow high
grade intercept of 3869 g/t Ag over 30cm was reported in DDH 1969M1 at a depth of 7m.
History
Copper-silver mineralization at Dianne Lake was discovered by Consolidated Skeena Mines in 1967. The
following year they completed ground geological mapping, prospecting, ground geophysical surveys and
soil sampling which outlined an area of extensive, and locally high grade copper-silver mineralization.
The IP surveys were found to be very effective in identifying mineralized outcrop. This was followed by
extensive trenching and sampling and a 50-hole diamond drill program.
Between 1968 -1979 various operators worked in the area assessing the copper -silver potential. Work
continued in the 1980’s with SMDC and Comaplex carrying out Airborne EM and magnetic surveys,
ground VLF-EM surveys, geological mapping and resampling of historic core. The last significant work
on the property was by Consolidated Pine Channel Gold in 1988 who completed beep mat and ground
prospecting and trenching which located new mineralized areas 800 meters northeast of the original
Dianne Lake showing.
Although the high grade mineralization defined by historic work is generally discontinuous, geological
mapping and structural interpretation by Scott and Pyke in 1998 (AR 74-N-10-10521) note that high-grade
veins are controlled by steeply dipping NNW-trending fractures and that most of the trenches and drill
holes completed in the late 1960's were parallel or sub -parallel to the controlling structures, which may
provide an explanation for the apparently discontinuous nature of the mineralization. In addition all of the
historic work has been tightly focused on the areas of known mineralization. Eagle Plains management
believes that there are excellent opportunities to locate additional mineralization in the Dianne Lake region
using a better understanding of the structural setting and modern geophysical surveys.
The above results and information were taken directly from the SMDI descriptions and assessment reports
filed with the Saskatchewan government. Management cautions that historical results were collected and
reported by past operators and have not been verified nor confirmed by a Qualified Person, but form a
basis for ongoing work in the Dianne Lake property area.
Charles C. Downie, P.Geo., a “qualified person” for th e 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 t oward 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 t o
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 one of the top 3 jurisdictions in the
world in terms of Investment Attractiveness. Throughout the exploration process, our mission is to hel p
maintain prosperous communities by exploring for and discovering resource opportunities while building
lasting relationships through honest and respectful business practices.
Expenditures from 2011-2019 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 numero us 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 inhere nt risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.