Eagle Plains Confirms High-Grade Gold Mineralization at Pine Channel Project, Saskatchewan
Eagle Plains Confirms High-Grade Gold Mineralization at Pine
Channel Project, Saskatchewan
Cranbrook, B.C., July 29, 2019: Eagle Plains Resources Ltd. (TSX-V:EPL) (“EPL” or “Eagle Plains”)
has received rock geochemical results from an inaugural 2019 field program conducted recently on its
100%-owned Pine Channel project located on Lake Athabasca, 43 km west of Stoney Rapids, SK. The
7,000 ha property is owned 100% by Eagle Plains and is considered to have significant potential to host
orogenic gold mineralization.
The objective of the 2019 program was to evaluate and confirm the nature of mineralization previously
documented at historical showings. Limited drilling has been completed in and around the property area
by past operators, which resulted in the successful delineation of mineralization to shallow depths.
Potential to test for further continuity at depth is considered to be excellent. A total of 25 rock sa mples
were collected in mid-June and returned values ranging from 7 ppb Au up to a maximum of 77.5 g/t (2.73
oz/T) Au.
2019 Exploration Highlights
Occurrence #9
The Occurrence No. 9 Au Showing includes three gold-bearing quartz veins (Main Vein, Rob Au Showing
and AC Au Vein) hosted within metamorphosed intrusive rocks (SMDI 2175). The Main Vein consists of
a 200 m long, 0.1 -2.5 m wide north -south striking vertical vein that crosscuts the quartz -pyrite-
arsenopyrite AC and Rob Veins. Quartz vein -hosted mineralization consists of veinlets and lenses of
arsenopyrite, pyrite, pyrrhotite, and minor chalcopyrite with gold generally associated with semi-massive
arsenopyrite mineralization. 2019 results included grab sample s of blue grey quartz with arsenopyrite
collected from the Main Vein area which returned 7.1 g/t Au (CDPCR005) and 6.9 g/t Au (CDPCR006).
North Norite Bay
The North Norite Bay Au Showing is a northwest -striking, steeply northeast-dipping quartz-filled shear
zone (SMDI 2183). The veins are up to 0.6 m wide and have been traced for a strike length of 375 m. The
quartz veins and surrounding sheared host rocks contain up to 10% combined pyrite an d arsenopyrite.
Twelve historical AX drill holes have tested th e mineralized shear zone. The best intercept was 0.5 m
grading 407.96 g/t (14.39 oz/T) Au in GT88 -11. 2019 results include CDPCR007, a 1.84 kilogram
composite of trench rubble consisting of white to blue grey quartz with pyrite and arsenopyrite which
returned 77.5 g/t Au.
ELA Shaft Area
The ELA Au showing (SMDI 1574) is a northwest -striking, steeply southwest-dipping to vertical quartz
vein mineralized with arsenopyrite, pyrite, and minor chalcopyrite disseminations. The vein varies in width
from 1.2-4.0 m, occurs over a strike length of over 200 m and is open along strike. Historical trench results
include 6.82 g/t Au, 8.68 g/t Ag over 7.6 m, 7.44 g/t Au, 13.02 g/t Ag over 0.95 m, 17.36 g/t Au over 2.0
m, 13.64 g/t Au over 1.9 m, 45.26 g/t Au over 3.0 m, and 16.74 g/t Au over 1.5 m. Twelve NQ drill holes
were completed in 1987, tracing the mineralized vein to a depth of 38 m with highlights including 24.52
g/t Au from 40.35 to 40.87 m in hole 87-07 and 5.27 g/t Au from 23.40-25.15 m in hole 87-11. 2019 results
include:
SAMPLE NUMBER DESCRIPTION Au g/t
CDPCR013 2.39 kg composite of quartz / arsenopyrite float main trench area 13.6
CDPCR014 2.71 kg composite of quartz / arsenopyrite float main trench area 45.1
CDPCR015 1.3m cm chip across trench bottom; vuggy quartz with arsenopyrite 28.1
CDPCR016 25cm chip across trench bottom; vuggy quartz with arsenopyrite 7.4
DKPCR003 5.17 kg composite of quartz / arsenopyrite float north trench area 16.6
DKPCR004 4.9 kg composite of quartz / arsenopyrite float north trench area 13.4
DKPCR006 grab from 1m wide rusty quartz vein 22.2
Property Geology and History
The Pine Channel property covers fifteen SMDI mineral occurrences of gold -bearing quartz veins in
fractures hosted by graphitic schists and gneisses. The fracture zones vary from 0.1 – 2.0 m in width and
the quartz veins typically are associated with arsenopyrite, tourmaline, jamesonite, pyrrhotite,
chalcopyrite, galena and sphalerite.
The first recorded work on the Pine Channel property was in 1950 by Goldfields Uranium Mines. The first
significant program on the property was in 1980 by Golden Rule Resources who completed 246 line km
of airborne EM (INPUT) and magnetic surveying. Follow -up ground work located 11 significant
occurrences. From 1985 -1988 Colchis Resources completed VLF -EM geophysics, biogeochemical
surveys, prospecting, soil sampling and trenching followed by shallow diamond drill testing of selected
targets. Part of the property was cov ered by an airborne VTEM survey in 2013. Approximately 90
diamond drill holes have been completed on the property. Most of the holes were relatively shallow (~<100
m) using small diameter (AX) core, which is poorly suited to sampling the high grade, nugget y gold
mineralization present in the Pine Channel area.
Highlights from historical work include:
• North Norite Bay (SMDI 2183): 407.96 g/t (14.39 oz/T) Au over 0.5 m (drill hole)
• ELA (SMDI 1574): 39.96 g/t (1.41 oz/t) Au over 0.55 m (drill hole)
• Holes G-1 and G-3 (SMDI 2329): 3.20 g/t Au over 1 m (drill hole)
• Occurrence No. 6/Occurrence No. 8 (SMDI 1581): 90.6 g/t (3.20 oz/T) Au over 0.2 m
(trench)
• Cole Lake Ni-Cu (SMDI 1583): 0.45% Ni over 7.0 m (drill hole), 6.2 g/t Au, 0.01% Ni and
0.06% Cu over 3.0 m (trench)
• King/Cole South (SMDI 2177): 31.93 g/t Ag, 1.55% Pb, 0.44% Zn over 0.28 m (drill hole)
Management cautions that historical results were collected and reported by past operators and have not
been verified nor confirmed by management, but form a basis for ongoing work in the Pine Channel
property area.
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 tea m. 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
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.