Eagle Plains Updates Brownell Lake, Olson Projects
Eagle Plains Updates Brownell Lake, Olson Projects
Cranbrook, B.C., March 1st, 2019: Eagle Plains Resources Ltd. (TSX-V: “EPL”) has received notice
from optionee Roughrider Resources Ltd. (“Roughrider”; TSX-V: “REL”) that it wishes to terminate the
option agreements relating to the Brownell Lake ( VMS-polymetallic) and Olson (gold) exploration
properties located 120km east of La Ronge, Saskatchewan in order to focus efforts elsewhere.
Brownell Project Summary:
See the Brownell project map here.
The Brownell Lake Project is host to regionally -sheared, highly-strained meta-volcanic rocks which are
considered to be prospective for volcanogenic mas sive sulphide (“ VMS”) mineralization. Highlight
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 mineralized EM/magnetic anomaly, with an additional
1700 m of p rospective 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.
During 2018, Eagle Plains and Roughrider completed a comprehensive geological compilation of all
existing data on the property, follow ed by a $100,000 exploration program consisting of ground
geophysics, geological mapping, soil sampling, resampling of his toric core and sampling and survey of
existing collar locations.
As a result of this work, Eagle Plain’s geologists consider the property to be drill -ready, with the
objective of expanding the known mineralized trend and defining a maiden NI 43 -101-compliant
resource. The 2018 ground magnetic-VLF surveying agreed well with historical data and was successful
in extending the magnetic-conductive trend associated with the Brownell Lake Cu -Zn Zone ~1.2 km to
the east. Analysis and correlation of whole rock ge ochemical results from both surface sampling and
drill core indicate the presence of alteration signatures consistent with base -metal-rich hydrothermal
systems.
Past drilling was successful in establishing mineralization near -surface, but only one fence tested the
zone to any moderate depth. In this area, drilling indicated that not only did the deposit continue down -
dip to a depth of at least 134 m, but also that the grade and thickness of the mineralization increased
(Saskatchewan Assessment Report 63M04-0007). In addition, historical drilling by INCO in the late
1950’s to early 1960’s only assayed for Cu and Ni, whereas more recent drilling indicates that copper
mineralization is associated with significant Zn, Ag and Au grades , which were not consi dered in early
resource estimates.
Olson Project Summary:
See the Olson project map here.
The Olson project is host to regionally -sheared, highly -strained meta-volcanic rocks which are
considered to be prospective for orogenic gold mineralization. The Olson p roject area is host to 29
mineral occurrences defined by historical geological mapping, prospecting, trenching and 4700 m of
diamond drilling. Historical drilling has intersected 7.5 m grading 2.07 g/t Au including 13.00 g/t Au
over 0.65 m and grab samples of up to 105.52 g/t Au. The project is considered to be significantly
underexplored, with known gold occurrences open at depth and along strike. 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 2018, Eagle Plains and Roughrider completed a detailed compilation of existing data, followed by a 2-
Phase, $150,000 field program which consisted of geological mapping and prospecting and the
collection of a total of 862 soil samples and 126 rock samples.
The 2018 field program verified the results of historical work and identified additional targets in areas
that were previously unexplored. Grid soil geochemistry highlighted two main areas with extensive gold
in soil anomalies. Soil geochemical values ranged from below d etection to a maximum of 2704.6 ppb
Au, with 6 samples returning greater than 100 0 ppb Au. In the Jena area, soil geochemistry delineated a
1.4 km strike length of anomalous soil results greater than 80 ppb Au with a maximum of 1346 ppb Au.
The Ackbar -Tuscan-Point area also returned promising results , with a 300m by 100m zone returning
values greater than 80 ppb Au and a maximum of 2704.6 ppb Au. Soil geochemistry at the Olson and
Juba showing areas returned lower values, likely related to thick clay and soil cover in these areas.
Prospecting in the areas of anomalous soil geochemistry identified gold mineralization associated with
shear-hosted quartz veins. Analytical results ranged from below detection to a maximum of 45.1 g/t Au,
with 20 grab samples returning greater than 1000 ppb Au. The Olson area had a maximum assay of 41g/t
Au from a grab sample of sheeted veins. The Jena area had 20 samples in excess of 1000 ppb Au with a
maximum assay of 15 .7 g/t Au from quartz -arsenopyrite veins. At the Juba occurrence, a grab sample
returned 13.1 g/t Au. Mineralization at the Point and Tuscan area returned maximum values of 9.8 g/t Au
at the Point and 45.1 g/t Au at Tuscan.
The next phase of work will focus on defining targets for diamond drilling.
Charles C. Downie, P.Geo., a “qualified person” for the purposes of National Instrument 43 -101 -
Standards of Disclosure for Mineral Projects, has prepared, reviewed, and approved the scientific and
technical disclosure in the news release.
Analytical and QA/QC Procedures
All sa mples were shipped to Bureau Veritas in Vancouver BC for analytical work. S oil samples were
analyzed for 37 major and trace elements by inductively coupled plasma mass spectrometry. For Brownell
project work, rock and drill core samples were analysed using total whole rock characterization. Major
oxides, precious metals and base metals were analyzed using ICP-ES and MS methods with a total of 65
elements analysed. For Olson project work, rock samples were analyzed with ICP-MS analysis for 35
major and trace elements. Gold was analysed using fire assay atomic absorption analysis . A 30g split for
gravimetric fire assay was also used for gold analysis for samples that had over 10 ppm Au . Quality
control and assurance (QA/QC) was done using in house Burea u Veritas protocols consisting of reject
duplicates, blank and certified reference materials.
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 team. Managements’ current focus i s 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, stak ing and strategic
acquisitions. Since 2012, Eagle Plain s 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 pla ce 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 includ ing 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 a nd therefore, involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.