Eagle Plains’ Partner Rockridge Resources Commences Exploration Program at the Knife Lake Copper Project, Saskatchewan
Eagle Plains’ Partner Rockridge Resources Commences Exploration Program
at the Knife Lake Copper Project, Saskatchewan
Cranbrook, B.C., September 8th, 2021: Eagle Plains Resources (TSX -V:EPL) is pleased to announce
that option partner Rockridge Resources Ltd. (TSX-V: ROCK) (OTCQB: RRRLF) (Frankfurt: RR0)
(“Rockridge”) has commenced its field program at the Knife Lake Copper Project located in Saskatchewan,
Canada (the “Knife Lake Project” or “Property”). The Knife Lake Project, consisting of 81 claims totaling
55,471 hectares (137,069 acres), is an advanced-stage copper, silver, zinc and cobalt exploration property
in Saskatchewan host to the Knife Lake Deposit.
Rockridge holds the exclusive o ption from Eagle Plains to acquire a 100% interest in the Property that
covers the Knife Lake Cu-Zn-Ag-Co VMS deposit (details following). The contiguous claims are located
approximately 50 km northwest of Sandy Bay, Saskatchewan. A 357kV powerline runs within 16 km of
the Knife Lake Deposit area.
See Knife Lake VMS Project Location Map here
Crews have commenced a helicopter-borne electromagnetic (EM) and horizontal magnetic gradiometer
geophysical survey utilizing Geotech Ltd.’s VTEM Plus System . The 610 line kilometer survey has been
designed to investigate over 30 kilometers of highly prospective VMS stratigraphy, never before surveyed
using modern time-domain geophysics. Mineralized drill intersections at the Gilbert Lake target area have
proven that VTEM plus is a valuable exploration tool for identifying VMS-style mineralization within
prospective stratigraphy on the Property, increasing discovery potential in regional target areas. Combined
with surficial geochemical data and geological mapping, results from the current program will help identify
and prioritize additional drill targets.
See Knife Lake Project VTEM Coverage Map here
Knife Lake Geology and History
The Knife Lake Deposit is interpreted to be a remobilized VMS deposit. The stratabound mineralized zone
is approximately 15m thick and contains copper, silver, zinc, gold and cobalt mineralization which dips 30°
to 50° eastward over a known strike -length within Rockridge’s claim area of 3,700 metres, and a known
average down-dip extension of approximately 300 metres.
See Knife Lake Deposit Map here
The deposit i s hosted by felsic to intermediate volcanic and volcaniclastic rocks which have been
metamorphosed to upper amphibolite facies. The deposit contains VMS mineralogy which has been
significantly modified and partially remobilized during the emplacement of gr anitic rocks. The
mineralization straddles the boundary between two rock units and occurs on both limbs of an interpreted
overturned fold.
Rockridge has completed twenty-four holes consisting of 3096 metres of diamond drilling in the 2019 and
2021 winter drilling programs. This represented the first drilling on the property since 2001. Both programs
have given Rockridge’s technical team valuable insights into the property geology, alteration, and
mineralization that will be applied to fu ture regional exploration on the highly prospective and
underexplored land package.
Highlights from the drill program s include previously reported hole KF19003 which intersected net -
textured to semi-massive sulphide mineralization from 11.2m to 48.8m downhole. This 37.6 metre interval
returned 2.03% Cu, 0.1 9 g/t Au, 9.88 g/t Ag, 0. 36% Zn, and 0.01% Co for an estimated 2.42% CuEq.
Additionally, previously reported drill hole KF19001 intersected net -textured to fracture -controlled
sulphide mineralization from 7.5 metres to 40.6 metres downhole. This 33.1 metre interval returned 1.28%
Cu, 0.12 g/t Au, 4.80 g/t Ag, 0.13% Zn, and 0.01% Co for an estimated 1.49% CuEq.
In August 2019, Rockridge announced a maiden NI 43 -101 resource estimate for the Knif e Lake deposit
which consisted of a pit-constrained indicated resource of 3.8 million tonnes at 1.02% CuEq and an inferred
resource of 7.9 million tonnes at 0.67% CuEq using a 0.4% CuEq cut-off. For more information please
refer to the News Release dated August 14 th, 2019 or the NI 43-101 Technical Report on the Mineral
Resource Estimate for the Knife Lake Property, Saskatchewan dated September 27, 2019, filed on Sedar.
Knife Lake Option Agreement Details
To earn a 100% interest in the Knife Lake Project, Rockridge has agreed to make a cash payment to Eagle
Plains of $150,000 (complete), issue up to 5,550,000 common shares of Rockridge (2,750,000 shares issued
to date) and complete $3,250,000 in exploration expenditures ($1,195,000 to date) over four years. Eagle
Plains will retain a 2% net smelter royalty (“NSR”) on certain claims which comprise the project area.
Under the terms of the agreement Rockridge is designated as the Operator of the project.
Qualified Person
Kerry Bates, P. Geo., a “qualified person” for the purposes of National Instrument 43 -101 - Standards of
Disclosure for Mineral Projects, and a Geologist employed by TerraLogic Exploration Inc., has reviewed
and approved the scientific and technical disclosure in this news release relating to the Knife Lake Project.
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 dis covery 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. Management’s focus is to advance
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. Throughout the
exploration process, our mission is to help maintai n prosperous communities by exploring for and
discovering resource opportunities while building lasting relationships through honest and respectful
business practices.
Expenditures from 2011-2020 on Eagle Plains-related projects exceed $22M, most of which was funded by
third-party partners. This exploration work resulted in approximately 37,000 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.