Eagle Plains’ Partner Rockridge Resources Intersects Additional Copper Mineralization and Plans Upcoming Summer Exploration Program at the Knife Lake Copper Project, Saskatchewan
Eagle Plains’ Partner Rockridge Resources Intersects Additional Copper
Mineralization and Plans Upcoming Summer Exploration Program at the
Knife Lake Copper Project, Saskatchewan
Cranbrook, B.C., July 14th, 2021: Eagle Plains Resources (TSX -V:EPL) has been notified by option
partner Rockridge Resources Ltd. (TSX-V: ROCK) (OTCQB: RRRLF) (Frankfurt: RR0)
(“Rockridge”) that it has received final results from its recently completed diamond drilling program at its
Knife Lake Copper Project located in Saskatchewan, Canada (the “Knife Lake Project” or “Property ”).
Rockridge drilled a total of 2,043 metres in twelve drill holes and has now received assays and completed
interpretation for all holes. Results for the initial nine holes covering Gilbert North and South and the Knife
Lake Deposit can be referenced in Eagle Plains June 17 th, 2021 news release . Rockridge will also be
commencing a summer exploration program which is described herein. 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.
See Knife Lake VMS Project Location Map here
The drill program at the Gilbert North and South target areas was designed to evaluate conductivity and
magnetic anomalies identified during the winter 2021 airborne VTEM Plus survey and corresponding
surficial geochemical anomalies. Following initial drilling at Gilbert North and South a Borehole
Electromagnetic survey of all holes at the Gilbert North and South target areas was completed to refine
targeting for the final holes of the program. Previous surficial work programs have indicated that the
stratigraphic position of the targeted anomalies correlates with th e Knife Lake Deposit to the east.
Additional d rilling at the Knife Lake Deposit was designed to infill resource drilling.
See Gilbert North and South Drill Hole Locations here
See Knife Lake Deposit Drill Hole Locations here
Rockridge’s CEO, Jonathan Wi esblatt, commented: “From start to finish, the entire winter and spring
exploration program including an airborne VTEM Plus survey and a 2, 043m diamond drilling program at
the Knife Lake Project was a great success overall. There are a number of exciting regional targets in close
proximity to the Knife Lake deposit including the Gilbert Lake target area which was explored using
modern day techniques for the very first time. The results thus far have further supported our working thesis
that Knife Lake is not a one -off VMS deposit and that the prosects to add to the project ’s global resource
remain high. Our priority for the balance of 2021 is to return to Knife Lake and to continue to advance the
project and the deposit in a rising copper price environment . Rockridge’s geological team is planning to
return to Knife Lake later this summer to carry out an exploration program in preparation for another drill
program later in the year. News flow will be forthcoming on these exploration programs.”
Highlights
• Highlight drill intercepts at the Gilbert South target area include pyrrhotite-pyrite dominant VMS-
style mineralization hosted at the same stratigraphic horizon as the Knife Lake Deposit
• Drilling focused on discovering VMS style copper deposits along newly defined conductors as well
as at the Knife Lake VMS deposit
• Deposit is thought to be a remobilized portion of a “primary” VMS deposit; most of the historical
work has consisted of shallow drilling at the deposit area with little regional work ca rried out and
limited deeper drilling below the deposit
• There is strong discovery potential in and around the deposit as well as at regional targets on the
Property; modern exploration techniques and methods are being utilized with a goal of making new
discoveries
• A summer 2021 exploration program will follow up on the results of this drill program and details
on this program are forthcoming
Knife Lake Winter/Spring 2021 Diamond Drill Hole Results and Geological Summary
The final two holes of the program (KF21023 and KF21024), totaling 244.0m, were completed at the
Gilbert Lake South target area which is approx. 6 km to the west of the Knife Lake Deposit. Hole targeting
was refined using preliminary data from the 2021 BHEM survey, which was completed concurrently with
drilling. The Gilbert South target, which is over 2.5 km in length, had never been drilled prior to the 2021
drill program. A second resourc e infill hole (KF21022) was drilled at the Knife Lake Deposit, totaling
59.0m.
See Knife Lake Priority Target Areas Map here
Gilbert South Target
Drill hole KF21023 intersected massive, semi -massive to net -textured pyrite - pyrrhotite ± sphalerite ±
chalcopyrite between 73.91 m - 75.83 m with lesser sulphide infill of foliation to 80.16m hosted in
amphibole gneiss. The mineralization is associated with strong graphite alteration. Assays returned
anomalous results within the mineralized zone including 496.2 ppm Cu, 1277.3 ppm Zn and 1.7 g/t Ag over
6.39m (73.81m - 80.20m).
See Gilbert North and South Targets here
Hole KF21024 was planned to undercut hole KF21023 to test for variability of mine ralization down-dip.
Mineralization in the hole was weaker than the up -dip intersection with weak ly defined net-textured
pyrrhotite-pyrite hosted pegmatite between 72.91 m - 73.55m. Assay results did not return significant
concentrations of precious or base-metals.
Knife Lake Deposit Drilling
Drill hole KF21022 was designed to under-cut hole KF21021 to test for variability in mineralization down-
dip. Semi -massive to net texture pyrite-pyrrhotite-sphalerite mineralization is hosted in intermediate
volcanic intervals and pegmatite intervals between 27.39m - 48.50m. Drillhole KF21022 returned 0.73%
Cu, 0.06 g/t Au, 2.98 g/t Ag, 0.15% Zn and 0.01% Co (0.88% CuEq) over 21.11m starting at 27.39m.
See Knife Lake Infill Drilling Cross Section here
Drill Hole Results Table for Hole KF21022
Hole From To
Core
Length Cu Au Ag Zn Co CuEq
(m) (m) (m) (%) (g/t) (g/t) (%) (%) (%)
KF21022 27.39 48.50 21.11 0.73 0.06 2.98 0.15 0.01 0.88
Includes 29.16 35.00 5.84 1.33 0.24 5.05 0.24 0.01 1.64
Includes 32.00 35.00 3.00 1.44 0.09 4.97 0.30 0.01 1.66
and 29.16 30.00 0.84 1.84 0.44 7.52 0.26 0.02 2.35
* Drill indicated intercepts (core length) are reported as drilled widths; true thickness is undetermined.
** No cutoffs or metal recoverability were factored into CuEq calculations.
*** Assumptions used in USD for the copper equivalent calculation were metal prices of $4.50/lb Cu,
$19.38/lb Co, $1,864.00/oz Au, $27.90/oz Ag, $1.38/lb Zn. Copper equivalent (CuEq) was calculated
using the formula CuEq = Cu% + ((Zn%*Zn Price*22.0462) + (Co%*Co Price*22.0462) + (Augpt*Au
Price/31.1035) + (Ag *Ag Price/31.1035)) / (Cu price*22.0462).
Summer 2021 Exploration Program
Planning is now underway for a fully funded and permitted summer 2021 exploration program to follow
up on the encouraging results from this drill program. The program will include a VTEM Plus Geophysical
program to expand on the winter 2021 geophysical program. VTEM Plus has proven to be a useful tool for
target generation on the Knife Lake Property. Rockridge is also planning for a follow-up drill program later
in the year as well.
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 is 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 empl acement of granitic rocks. The
mineralization straddles the boundary between two rock units and occurs on both limbs of an interpreted
overturned fold.
Rockridge completed twelve holes consisting of 1,053 metres of diamond drilling in the 2019 winter drilling
program. This represented the first drilling on the property since 2001 and ha d two primary objectives:
confirm the tenor of mineralization reported by previous operators and expand known zones of
mineralization. Highlights from the drill program included 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.
Compilation and initial modelling indicate potential for expansion of the deposit at depth. The recent
drilling focused on resource upgrade as well as infill drilling between historical holes. The program gave
Rockridge’s technical team valuable insights into the property geology, alteration, and mineralization that
will be applied to future regional exploration on the highly prospective and underexplored land package.
The Knife Lake deposit is a near surface VMS deposit starting a few metres below surface and the deposit
remains open at depth and along strike for potential resource expansion. Recently Rockridge announced a
maiden NI 43-101 resource estimate for the Knife Lake deposit (see the News Release dated August 14 th,
2019) which consisted of an indicated resource of 3.8 million tonnes at 1.02% CuEq at a 0.4% CuEq cut-
off (3.8 MT at 0.83% Cu, 3.7 g/t Ag, 0.097 g/t Au, 82 ppm Co, 1740.7 ppm Zn ). In addition, there i s an
inferred resource of 7.9 million tonnes at 0.67% CuEq at a 0.4% CuEq cut-off (7.9 MT at 0.53% Cu, 2.4
g/t Ag, 0.084 g/t Au, 53.1 ppm Co, 1454.9 ppm Zn). Refer to 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.
QA/QC
Samples were sent for geochemical analysis with ALS Global, Vancouver for the following analyses: 48
element four acid ICP-MS (ME-MS61) and gold (Au) 30 g Fire Assay – AA finish (Au-AA23). Over limit
analysis were completed using the following analyses: Ore Grade copper (Cu), nickel (Ni) and zinc (Zn) –
four acid ICP-AES (ME-OG62).
On receipt of final certificates of analysis, the QA/QC sample results were reviewed to ensure the order of
samples were reported correctly, that the blanks ran clean, and that the results for each standard had minimal
variance from its certified value. QA/QC for the Knife Lake drilling included certified reference material
(“CRM’s”) and blanks that were inserted into each sample batch in order to verify the analytical from the
lab.
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 s teadily enhancing shareholder value by
advancing our diverse portfolio of projects toward 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. 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 a nd strategic acquisitions. 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 2011-2020 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 faci litating 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.