Rockridge Resources Commences Winter Drilling Program at Eagle Plain’s Knife Lake Project, Northern Saskatchewan
Rockridge Resources Commences Winter Drilling Program at Eagle
Plain’s Knife Lake Project, Northern Saskatchewan
Cranbrook, B.C., March 19th, 2019: Eagle Plains Resources Ltd. (TSX-V: “EPL”) has received notice
from Rockridge Resources Ltd. (TSX-V: ROCK) that it has commenced a winter diamond drilling
program on the Knife Lake Property, owned 100% by Eagle Plains and under option to Rockridge.
Winter drilling will consist of approximately 1,000m in eight to ten holes. The 85,196 ha Knife Lake
claims cover both the historical Knife Lake VMS deposit and an extensive, under -explored regional
VMS target area. The Knife Lake area saw extensive exploration from the late 1960’s to the 1990’s with
the last documented work program completed in 2001.
To earn a 100% interest, Rockridge has agreed to make a cash payment to Eagle Plains of $150,000
upon regulatory approval (complete), issue up to 5,250,000 common shares of Rockridge (2M shares
issued to date) and complete $3,250,000 in exploration expenditures 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.
See Knife Lake regional map
The current drill program will focus on verifying the results of historic drilling as well as infill and step -
out drilling to better define the Knife Lake mineralization. Results from this program will be used to
support an updated NI 43-101 compliant resource calculation for the project.
Historical drill assays will be validated by twinning select historical drill holes targeting the higher grade
core of the Knife Lake deposit. In 1998, Leader Mining published a historical estimate of the shallow
VMS deposit, reporting a drill -indicated, non NI 43 -101 compliant historical resource of 20.3 million
tonnes grading 0.6% Cu, 0.1 g/t Au, 3.0 g/t Ag, 0.06% Co and 0.11% Zn. Leader also defined a higher
grade zone of 11.0 million tonnes grading 0.95% Cu within this historical estimate.*
Additional drilling will focus on resource upgrade or expansion by infill drilling between historical
holes, and drilling in areas with unverified or missing historical assays.
Knife Lake Geology and History
The Knife Lake deposit lies within the Scimitar Complex, which is believed to be the disconnected,
northwest ext ension of the northern Flin Flon domain and the Amisk Volcanic package, which hosts
massive sulphide mineralization in the Flin Flon –Snow Lake mining district, the most prolific
greenstone belt in Canada. Since the initial discovery of mineralization in 19 15, the Flin Flon camp has
produced over 170 million tons of sulphide ore from 31 VMS deposits worth in excess of C25 billion
dollars. (2002 NRC, Current Research). Exceptionally high Au contents of many of these deposits,
including Flin Flon (62.4 Mt @ 2. 6 g Au/t) and Lalor (8.8 Mt @ 4.6 g Au/t in the Au zone), make them
particularly attractive exploration targets. This information is provided only as historical reference.
Management cautions that past results or discoveries on proximate land are not necessarily indicative of
the results that may be achieved on the subject properties.
Knife Lake is interpreted to be a remobilized VMS deposit. The stratabound mineralized zone is
approximately 15 m thick and contains copper, silver, zinc and cobalt mineralization which dips 30° to
45° eastward over a strike -length of 4,500 m, with an average horizontal width of approximately 300
m. The deposit is hosted by fel sic to intermediate volcanic and volcaniclastic rocks which have been
metamorphosed to upper amphibolite facies. The deposit is typical of VMS mineralogy which has been
significantly modified and partially remobilized during the emplacement of granitic roc ks. The
mineralization straddles the boundary between two rock units and occurs on both limbs of an overturned
local fold.
Drilling has outlined a series of stratabound ore lenses which are controlled by complex geological
structures. In the copper miner alized zone, significant thickening of the mineralization occurs near the
central portion of the deposit. Sulphides and rare native copper are visible in outcrop. Massive sulphides
consist of 25 to 60% pyrrhotite and 0.2 to 10% chalcopyrite mineralization. Pyrite is present as irregular
disseminations and masses. Locally, up to 8% sphalerite (zinc mineralization) is present.
The first documented work in the Knife Lake showing area occurred between 1969 -1973, consisting of
ground and airborne geophysical su rveys and extensive soil geochemical sampling. The discovery drill -
hole, collared in September, 1969, returned 2.37% Cu over 4.48m from 19.96 -24.44m, including 3.5%
Cu over 2.5m from 20.27 -22.77m. A total of 96 diamond drill holes (8,232m) were completed b etween
1969-1971 and in 1973 Straus Exploration announced a maiden resource on the Knife Lake Deposit.
Hudson’s Bay Exploration and Development Company Ltd. later carried out a regional Airborne EM
geophysical survey in the Knife Lake – Scimitar Lake area , followed up by geological mapping,
prospecting, ground geophysics and diamond drilling. The property was subsequently optioned by
Copperquest Incorporated in 1989, which carried out further geophysical and geochemical surveys and
optioned the property to Leader Mining International in 1996. Between 1996 and 2001, Leader flew
various airborne geophysical surveys in the area, including EM, magnetic, and gravity surveys. This was
followed up with stripping and trenching of the outcropping deposit area. Groun d TEM, magnetic,
ground IP/Resistivity and VLF -EM surveys were completed over and adjacent to the main deposit area.
Between 1996 and 1998, Leader completed 315 drill holes, outlining a broad zone of mineralization
occurring at less than 100 meters depth (AF 63M-0006, Report 10). Late in 1998, Leader published the
geological reserves of the deposit, reporting a drill -indicated resource of 20.3 million tonnes grading
0.6% Cu, 0.1 g/t Au, 3.0 g/t Ag, 0.06% Co and 0.11% Zn. It was suggested that 11.0 million tonnes
grading 0.95% Cu could be mined using an open pit (SMDI 0406).
*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 reserves 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 and 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.
A 357kV powerline has recently been completed to within 16km of the Knife Lake Deposit area, greatly
enhancing the project’s infrastructure
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 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 collabo rative partnerships and
development of a highly experienced technical team. Managements’ current focus is 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, staking and strategic
acquisitions. Since 2012, Eagle Plains 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 place in the world in
terms of Investment Attractiveness. Throughout the exploration process, our mission is to help maintain
prosperous communities by e xploring 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 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.