Eagle Plains Partner Canter Resources Completes Field Program at at Schotts Lake Copper Project
Eagle Plains Partner Canter Resources Completes Field Program at
at Schotts Lake Copper Project
Cranbrook, B.C., Ju ly 19, 2022: Eagle Plains Resources Ltd. (TSX -V:EPL) (“EPL” or “Eagle
Plains”) has been notified by option partner Canter Resources Corp. (CSE: CRC) that the 2022 field
program at EPL’s 100%-owned Schotts Lake Cu-Zn project has been completed. The claims cover an
area of 2160ha located in eastern Saskatchewan, 40 km northwest of Fli n Flon, Manitoba. Access to
the property is gained via winter road and/or float plane.
Canter holds the exclusive right to earn a 60% interest in the Schotts Lake project by completing
$5,000,000 in exploration expenditures, making $500,000 in cash payme nts and issuing 1,000,000
common shares to Eagle Plains over a four year period. A 2% NSR is reserved for Eagle Plains, which
may be reduced to 1% upon payment by Canter of CDN$1M.
2022 Fieldwork
The 2022 field program included soil sampling, lithogeochemical sampling and geological mapping
on high priority targets identified by the 2021 EM geophysical survey. Comprehensive geophysical
modelling of property geophysical data, including a high resolution 2008 VTEM survey, is underway.
The results from this modelling will be used to generate drill targets in areas of known mineralization
and in areas outside the Schott’s Lake deposit. The 2022 program work was managed by TerraLogic
Exploration Services of Cranbrook, BC.
Analytical results from the fieldwork are pending and will be released once they have been received,
compiled and interpreted.
See Schotts Lake Property Map here
Schotts Lake Geology and History
The Schotts Lake property hosts metamorphic and intrusive rocks which are dominantly volcanic in
origin and associated with an island arc environment. The rocks are folded into a n easterly-dipping
synform. Mineralization was first discovered in 1953 by Kay Lake Mines . A total of 79 drill holes
have been completed for a total of 9516m (31,200’) and a historical resource of 1,983,850 tonnes
grading 0.61% copper and 1.35% zinc (Aur Resources, 2003 -SDMI 0320). Notably, the historical
resource did not include precious metal enrichment and/or cobalt. Eagle Plains’ management considers
these 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 reserv es 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 a nd 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.
Mineralization at Schotts Lake consists of semi -massive to massive pyrrhotite and pyrite with
associated chalcopyrite (copper) and sphalerite (zinc) mineralization . The Schotts Lake deposit is
interpreted to be a typical exhalative massive sulphide zone. The mineralized zone has an average
thickness of 20.4m, is overturned and lies on the eastern limb of a major north-easterly plunging fold.
The deepest mineralized intercept is at a vertical depth of 266 meters with mineralization open to depth.
The following table outlines significant historical drill intercepts:
Table 1- Significant Drill Intercepts-Schotts Lake Project*
Hole ID Width(m) From(m) To(m) Cu(%) Zn(%)
1 16.7 unknown Unknown 1.1 1.83
4 0.76 unknown Unknown 4.3 3.3
13 5.8 30.4 36.2 2.5 0.17
35 1.7 256.8 258.5 2.07 0.01
65 15.8 82.3 98.1 0.38 1.84
66 7.6 71.6 79.2 0.96 5.48
67 3.0 49.1 52.1 1.71 3.48
68 17.9 133.8 151.7 0.85 1.53
69 18.3 128.2 146.5 0.53 1.09
70 22.7 149.7 172.4 0.54 1.96
75 27.4 183.5 210.9 0.35 2.25
* intercepts in the above table refer to actual drilled thickness in meters and may not represent the
true thickness of the intercept
2021 exploration activity by Eagle Plains consisted of a ground-based electromagnetic survey over 6.5
line-kms, covering known mineralization and surveying of areas interpreted to have high potential.
Some of the claims have an underlying NSR in favour of Edge Geological Consulting Inc., of which
1% may be purchased by Eagle Plains at any time for CDN$1M.
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, has prepared, reviewed,
and approved the scientific and technical disclosure in the news release.
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 and through numerous spin-outs 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 advancing our diverse portfolio
of projects tow ard 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 on projects controlled by Cameco Corp., Iso
Energy Corp., Denison Mines Corp., Skeena Resources Ltd. and Alexco Resource Corp./Banyan Gold
Corp., among others. 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 lasting relationships through
honest and respectful business practices.
Expenditures from 2011 -2021 on Eagle Plains -related projects exceed $ 27M, 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.