Eagle Plains/Rex Resources Announce Results from 2022 Field Program at the Kalum Gold Property, Golden Triangle Region, BC
Eagle Plains/Rex Resources Announce Results from 2022 Field
Program at the Kalum Gold Property, Golden Triangle Region, BC
Cranbrook, B.C., December 12th, 2022: Eagle Plains Resources (TSX-V:EPL), (“EPL”) has been
notified by option partner Rex Resources Corp. (TSX-V:OWN), (“Rex”) that it has received results
from the 2022 field program field on Eagle Plains’100% owned Kalum Property located approximately
35 km northwest of Terrace, British Columbia in the Skeena Mining Division. Field activities conducted
in 2022 included soil sampling, rock sampling, lithogeochemical sampling, and geological mapping at a
number of showings on the property. Samples taken at the Bling-Rico, Babit, Hat, and Tojo occurrences
returned significant gold values. Soil sampling returned up to 390 ppb Au and rock sampling returned
up to 12.55 g/t Au. These assay results confirm the high-grade nature of vein-hosted gold mineralization
on the property.
Rex has the exclusive right to earn a 60% interest in the property by completing exploration expenditures
of $3,000,000, making cash payments of $500,000 and issuing 1,000,000 common shares to EPL over a
four-year period.
View Kalum Project/Highlight Map here
2022 Fieldwork and Results
The focus of the 2022 fieldwork was to define targets for future drill programs. In total, 11 field days
were spent on the property, resulting in the collection of 67 rock samples, 277 soil samples, and 64
geological stations . The 2022 field program was ma naged by Terralogic Exploration Services of
Cranbrook, BC.
Rock sample results ranged from ranged from trace values to a high of 12.55 g/t Au. Of the 6 7 rock
samples analysed, thirteen assayed over 1.0 g/t Au. The samples were collected from massive, sulphide-
bearing quartz veins up to 2.5m in width cutting both Bowser Lake Group sediments and younger
intrusives on the property.
View Kalum Project 2022 Results Map here
Significant 2022 Rock Sampling Results
Sample Type Zone Description Au (g/t) Ag (g/t)
EMKMR032 grab Babit 1% oxidized pyrite hosted in quartz vein. 12.55 1.6
EMKMR003 grab Bling 5% pyrite hosted in massive quartz vein. 4.82 3.2
EMKMR030 grab Babit 10 cm quartz vein with 2% pyrite and trace
galena. 4.63 4.4
EMKMR037 grab Hat Ankerite altered, sparry quartz vein float. 3.83 248
EMKMR033 grab Babit Massive, limonite-stained quartz vein. 2.79 1.7
EHKMR007 grab Tracy
Quartz vein, weathered orange on surface.
Net-texture and disseminated galena
mineralization.
2.36 125
EEKMR003 grab Rico Pyrite-bearing quartz vein. 1.89 2
EHKMR006 grab Tojo Quartz vein with dark red/maroon brown
mineral. 1.595 7.8
EHKMR009 grab Hat Quartz vein hosting 5% massive galena. 1.555 419
EMKMR019 grab Tojo 10 cm quartz vein with trace sphalerite and
trace galena. 1.535 9.9
EMKMR004 1.5m
chip Bling Quartz vein and surrounding mudstone wall
rock. 5% pyrite hosted in vein. 1.265 2.4
EHKMR005 grab Tojo Quartz vein with oxidized sulphides. 1.185 74.7
EMKMR023 grab Tojo Massive, multistage quartz vein with
oxidized sulphides. 1.14 10.9
Rock grab samples are selective samples by nature and as such are not necessarily representative of the
mineralization hosted across the property.
Soil sampling conducted in 2022 extended historic lines further east from the Bling -Rico zone, tested
the southern aspect of the Tojo showing, and investigated the area between and below the Chris -Martin
showings where limited outcrop precludes geological mapping or prospecting. Soil sample values ranged
from below detection to a high of 390 ppb Au, with seventeen samples returning greater than 100ppb
Au. The soil anomalies east of the Bling -Rico and between the Chris-Martin showings occur in areas
that have seen very limited prospecting.
Property Geology
The 2,871ha property is flanked by a large intrusive stock that has intruded sedimentary rocks of the
Bowser Lake Group. A number of high-grade, vein-type gold and silver occurrences are associated with
the contact zone of the intrusive stock.
Property History
View Kalum Project/Geology Overview Map here
Eagle Plains acquired the property in 2003 and completed significant exploration programs in 2003
and 2004. The programs included a VTEM airborne survey, extensive geochemical programs,
geologic mapping, and a 19 -hole diamond drill program. The best drill results from this work
included drill-hole KRC04001, drilled at the Rico showing (discovered by Eagle Plains ), which
returned 35g/t Au over 2.5m from 101.8m to 104.3m; including a 0.5m interval that assayed
107g/t Au. Historical sampling at the Chris occurrence reported a grab sample of 158 g/t Au and
5,536 g/t Ag. At the Martin showing area, sampling by Eagle Plains in 2004 returned 34.0 g/t
Au and 83.0 g/t Ag from a grab sample of sulphide bearing quartz vein material. The Martin area
has never been drill-tested. Management cautions that rock grab samples are selective samples by
nature and as such are not necessarily representative of the mineralization hosted across the
property.
The property area has seen exploration activity by various operators over the years, with the most recent
diamond drilling carried out in 2012 by Clemson Resources, who drilled a single hole to test for high -
grade mineralization in an area outside of present claim boundaries . Recent work by Eagle Plains
included high resolution orthophoto and LIDAR surveys.
All work to date continues to support the interpreted potential for the Kalum Property to host both high-
grade gold-silver deposits and lower-grade bulk-tonnage type gold mineralization.
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, acquir e 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 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 will hold 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 royalty 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. Eagle Plains will 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
“C.C. (Chuck) Downie”
VP Exploration
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 con tain
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.