Eagle Plains Clarifies Saskatchewan Property Acquisition
Cranbrook, B.C., September 20th, 2017: Eagle Plains Resources Ltd. (TSX-V:EPL) (“EPL” or “Eagle Plains”) would like to clarify certain information contained in the September 06, 2017 news release regarding the staking of the Robinson Creek property in east-central Saskatchewan. As mentioned in the news release Eagle Plains relied upon technical information derived from public sources to both target the area of acquisition and to gather information for the technical details outlined in the news release. After a more detailed review of the information, it is apparent that the location of the Robinson Creek gold mineralization was mis-plotted in the public database by a distance of approximately 2.2 kilometers and that some of the historical highlights referred to in the news release are not within the current Eagle Plains claim boundaries.
The following points as outlined in the September 6th news release:
- Non-43-101 historical resource documented
- Gold mineralization traced over 315m strike-length and to vertical depth of 90m
- Wasy Showing trench results include 2.5m grading 59.1 g/t Au
- Wasp Showing trench results include 0.5m grading 168.3 g/t Au, 0.5m grading 123.17 g/t Au and 0.7m grading 11.6 g/t Au
- Drill intercepts include: 1.46m grading 43.59 g/t Au, 0.46m grading 33.6 g/t Au, 0.73m grading 25.5 g/t Au
are related to mineralization within claims held by Rob Brown and Linda Wessels and are not located within the boundaries of the current Eagle Plains SAM property.
The following highlights are related to mineralization located within the EPL SAM property:
- SAM Zone VMS mineralization drill intercepts include: 2.32m grading 1.86 g/t Au and 5.52% Cu; 2.16m grading 2.56 g/t Au, 3.26% Cu; 2.9m grading 0.36 g/t Au, 0.99% Cu; 1.6m grading 1.65 g/t Au, 4.48% Cu and 4.85m grading 0.53 g/t Au, 1.0% Cu
- Numerous underexplored gold and VMS occurrences on property
Eagle Plains regrets any confusion or misunderstanding related to this inadvertent mistake.
About the SAM Target
The SAM Konuto-type Volcanogenic Massive Sulphide (“VMS”) mineralization is hosted in a fault contact along a distinct stratigraphic break between volcaniclastic and siliceous mafic volcanic rocks. Mineralization consists of pyrite-pyrrhotite and chalcopyrite as local disseminations and stringers. The SAM Zone has been traced to a depth of 200m, over a strike length of 200m and across a width of up to 50m. Gold grades vary with the highest gold grades associated with sections that contain significant zinc mineralization.
The technical information presented above is repeated for historical reference only and cannot be relied upon as the Company’s QP, as defined under NI-43-101 has not prepared nor verified the historical information. All drill intercepts are drill-indicated lengths. Insufficient technical information exists to demonstrate the true widths of these intersections. All of the technical information is derived from public documents available through the Saskatchewan Government Ministry of the Economy.
Eagle Plains intends to carry out a detailed compilation of all historical work in the property area, and will work to create a comprehensive database to aid in the planning and execution of future exploration programs on the property.
Eagle Plains is seeking joint-venture participation to further advance the Robinson Creek 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 discovery through collaborative 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 best place 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 2011-2016 on Eagle Plains-related projects were approximately $16.0M, which was funded by Eagle Plains and, for the most part, by third-party partners. This exploration work resulted in approximately 15,000 m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.
Technical aspects of this news release have been reviewed and approved by Charles C. Downie, P.Geo.
On behalf of the Board of Directors
“Tim J. Termuende”
President and CEO
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.