Eagle Plains/Pacific Imperial Announce Geophysical Program at Brownell Lake Copper Project, Saskatchewan
Eagle Plains/Pacific Imperial Announce Geophysical Program at
Brownell Lake Copper Project, Saskatchewan
Cranbrook, B.C., April 06th, 2023: Eagle Plains Resources Ltd. (“EPL”:TSX-V, or “Eagle Plains”)
has been notified by option partner Pacific Imperial Mines Inc . (“PPM”: TSX-V) that a geophysical
team has been mobilized to Eagle Plains’ Brownell Lake VMS-polymetallic project, located 17km
northwest of the community of Deschambault Lake, Saskatchewan. Under the terms of the agreement,
PPM may earn up to a 60 % interest in the 1863 ha property by completing $5,000,000 in exploration
expenditures, issuing 1,000,000 voting class common shares and making $500,000 in cash payments over
a 4 year period.
SJ Geophysics of Delta, BC will using a Time Domain Electromagnetic system (TDEM) to survey 3
separate loops totaling 12 line km. The focus of the survey will be to provide superior definition over the
areas of known mineralization, improve the depth resolution below historical drilling depths and to resolve
the postulated strike extension of the known mineralization east of the historic drilling.
Brownell Lake Project Summary
The Brownell Lake Project is host to regionally -sheared, highly-strained meta-volcanic rocks which are
considered to be prospective for volcanogenic massive sulphide (“VMS”) mineralization. Historical select
drilling results include 3.35 m of 0.48% Cu, 2.28% Zn, 1.46 g/t Au; 2.2 m of 6% Zn; and 20.5 m of 0.49%
Cu. Historic work has delineated a 2600m length EM/magnetic anomaly coincident with the VMS horizon,
with an additional 1700 m of prospective magnetic anomaly that remains untested by electromagnetics
and diamond drilling. Results are historical in nature and have not been confirmed by Eagle Plains, but
are considered to be reliable and will form a basis for ongoing work.
In December 2003, Shane Resources released a geological resource for the Brownell Lake Property of
1,251,900 tonnes grading 0.56% Cu and 1.75% Zn (Saskatchewan Mineral Deposit Index 0339), based on
37 historic drill holes. Eagle Plains’ management considers the mineral resource estimates to be historical
in nature and cautions that a Qualified Person has not done sufficient work to classify the historical
estimates as current mineral resources or mineral reserves in accordance with National Instrument 43 -
101. These estimates do not comply with current definitions prescribed by National Instrument 43-101 or
the Canadian Institute of Mining, and are disclosed only as indications of the presence of mineralization
and are considered to be a guide for additional work. The historical models and data sets used to prepare
these historical estimates are not available to Eagle Plains, nor are any more recent resource estimates
or drill information on the Property.
After acquiring the core tenures in 2018, Eagle Plai ns completed a comprehensive data compilation
followed by a 2018 surface work program comprising soil sampling, geological mapping and prospecting,
a ground based magnetic -VLF geophysical survey, and whole-rock lithogeochemical sampling of select
surface rocks and historical drill core samples. These results along with additional modeling indicate that
the Brownell VMS -style mineralization extends further east than previous ly interpreted. Additional
geological mapping and soil sampling was completed in 2021 along the projected eastern extension of the
mineralized horizon.
Technical information concerning the Brownell Lake and Olson properties has been reviewed and
approved by C.C. Downie, P.Geo. , hereby identified as the “Qualified Person” under N.I. 43-101, a
director and officer of Eagle Plains.
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 C anada. 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 and
through numerous spin -out transactions, has transferred over $100,000,000 in value directly to its
shareholders, with Copper Canyon Resources and recently Taiga Gold being notable examples. The
Company is committed to steadily enhancing shareholder value by adva ncing our diverse portfolio of
projects toward discovery through collaborative partnerships and development of a highly experienced
technical team.
In late 2022 Eagle Plains announced the formation of a separate division within the Company; Eagle
Royalties Ltd. (“ER”) which holds many of Eagle Plains’ diverse portfolio of royalty assets. The
restructuring will enhance the valuation of Eagle Plains’ extensive royalty interests, enabling ER to market
and develop its royalty assets while seeking additional r oyalty acquisition opportunities. Eagle Plains’
royalties cover a broad spectrum of commodities on projects controlled by Cameco Corp., Iso Energy Corp.,
Denison Mines Corp., Skeena Resources Ltd. and Hecla Mining Co./Banyan Gold Corp., among others.
Planning is underway to spin-out Eagle Royalties during H22023 which will enable Eagle Plains to continue
to focus on its core business model of acquiring and advancing grassroots critical - and precious -metal
exploration properties.
Expenditures from 2011 -2022 on Eagle Plains -related projects exceed $30M, the majority of which was
funded by third -party partners. This exploration work resulted in approximately 45,000m of diamond -
drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at
various stages of development. 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.
On behalf of the Board of Directors of Eagle Plains
“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 https://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.