Fieldwork Commences on Eagle Plains' Snowstorm Gold Project

Rhea-AI Summary

Eagle Plains Resources (TSXV:EPL) has commenced fieldwork on its 100%-owned Snowstorm Property, located 45km E of Nakusp, British Columbia. The 1026 ha property hosts polymetallic veins with significant gold-silver-lead-zinc mineralization. The property is part of the historic Slocan Mining Camp and contains 6 BC Minfile occurrences. Previous exploration revealed high-grade samples, including:

- Up to 572 g/t silver, 2.81 g/t gold, and 22.4% lead at the Snowstorm occurrence
- 1.4 g/t gold, 600 g/t silver, 29% lead, and 29.8% zinc at the Juno occurrence
- 1540 g/t silver, 41.1% lead, 16.1% antimony, and 1.58% copper at the West Ridge vein
- 27.5 g/t gold, 1083 g/t silver, 56.2% lead, and 0.55% zinc at the Silver Sparrow occurrence
- 144 g/t gold, 158 g/t silver, 6.04% lead, and 3.47% zinc at the Lakeview occurrence

Eagle Plains aims to assess the project for its bulk-tonnage potential, as no historical drilling has been reported on the property.

Positive

• Commencement of fieldwork on 100%-owned Snowstorm Property
• Property hosts polymetallic veins with significant gold-silver-lead-zinc mineralization
• Historical high-grade samples indicate potential for valuable mineral deposits
• Exploration of bulk-tonnage potential, which could increase the project's value

Negative

• No historical drilling reported on the property, indicating early-stage exploration
• Historical grab samples may not be representative of overall mineralization

News Market Reaction

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CRANBROOK, BC / ACCESSWIRE / September 18, 2024 / Eagle Plains Resources (TSXV:EPL) has mobilized personnel to commence fieldwork on its 100%-owned Snowstorm Property, located 45km E of Nakusp, British Columbia. The 1026 ha property is host to polymetallic veins that carry significant gold-silver-lead-zinc mineralization. Exploration is being conducted and managed by TerraLogic Exploration Inc. of Cranbrook, BC.

Snowstorm Geology and Project History
The Snowstorm Property is located within the historic Slocan Mining Camp where active exploration began in the mid-1860s. The camp and surrounding areas contain 173 past producing mines with reported total production in excess of 1,000,000kg of silver (BCGS General File 1997-02 / Klondike Silver Website). The Snowstorm Property is underlain by 6 BC Minfile occurrences, one of which, the White Eagle (Minfile 082KSW126), is covered by an historical Crown Grant.

The current Snowstorm tenures were worked extensively from 1925 -1930 when a series of trenches, shallow shafts, adits and tunnels were established at the Snowstorm (Minfile 082KSW086), Juno (Minfile 082KSW125), Silver Sparrow (Minfile 082KSW143) Lakeview (Minfile 082KSW198) and West Ridge (Minfile 082KSW197) occurrences. Subsequent activity included geological mapping and soil geochemical surveys. The most recent work was reported in 2015 which consisted of a structural analysis of the area.

Mineralization at the Property is associated with quartz-calcite veins hosted in sediments. At the Snowstorm occurrence, a series of veins are exposed by 26 trenches, with the largest vein measuring 1m in width. Historical grab samples of trench material returned up to 572 grams per tonne silver, 2.81 grams per tonne gold, and 22.4 per cent lead (ARIS 18136). The Juno occurrence has been explored by several trenches and a 12m long adit, with a 60cm chip sample of vein material returning 1.4 grams per tonne gold, 600 grams per tonne silver, 29 per cent lead and 29.8 per cent zinc (ARIS 18136). The West Ridge vein has been explored with several trenches and a 15m deep shaft. A selected grab sample of the mineralized vein assayed 1540 grams per tonne silver, 41.1 per cent lead, 16.1 per cent antimony and 1.58 per cent copper (ARIS 18136). The Silver Sparrow occurrence consists of two separate quartz veins approximately 90 metres apart, which have been explored by trenches and a 6m deep inclined shaft. The best grab sample from the vein assayed 27.5 grams per tonne gold, 1083 grams per tonne silver, 56.2 per cent lead and 0.55 per cent zinc (ARIS 18136). At the Lakeview occurrence, two mineralized quartz veins have been exposed by two trenches. A composite sample of vein material taken from the western end of one of the trenches assayed 144 grams per tonne gold, 158 grams per tonne silver, 6.04 per cent lead and 3.47 per cent zinc (ARIS 18136).

Rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property. The above results were taken directly from MINFILE descriptions and assessment reports (ARIS) filed with the BC government. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person but form a basis for ongoing work on the subject properties. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject propertiesManagement cautions that rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property.

Though historically explored purely as a high-grade, narrow vein system, Eagle Plains further intends to assess the Snowstorm project for its bulk-tonnage potential. No historical drilling has been reported on the property.

Technical information in this News Release has been reviewed and approved by C.C. Downie, P.Geo., a director and officer of Eagle Plains, hereby identified as the "Qualified Person" under N.I. 43-101.

About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains is a well-funded, prolific project generator that continues to conduct research, acquire and explore mineral projects throughout western Canada, with a focus on critical metals integral to an increasingly electrified, decarbonized economy.

The Company was formed in 1992 and is the ninth-oldest listed issuer on the TSX-V (and one of only three that has not seen a roll-back or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and through numerous spin outs has transferred over $100,000,000 in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable examples. Eagle Plains latest spinout; Eagle Royalties Ltd. (CSE:ER) was listed on May 24, 2023, and holds a diverse portfolio of royalty assets throughout western Canada.

Eagle Plains' core business is acquiring grassroots critical- and precious-metal exploration properties. 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.

Expenditures from 2010-2023 on Eagle Plains-related projects exceed $38M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 50,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.

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.

On behalf of the Board of Directors of Eagle Plains

"C.C. (Chuck) Downie, P.Geo"
President and CEO

For further information on EPL, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at https://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.

SOURCE: Eagle Plains Resources Ltd.

View the original press release on accesswire.com

FAQ

What are the key mineralization findings at Eagle Plains Resources' (TSXV:EPL) Snowstorm Property?

The Snowstorm Property has shown significant polymetallic mineralization, with historical grab samples revealing high-grade results. Notable findings include up to 572 g/t silver and 2.81 g/t gold at the Snowstorm occurrence, 1540 g/t silver at the West Ridge vein, and 144 g/t gold at the Lakeview occurrence.

Has Eagle Plains Resources (TSXV:EPL) conducted any drilling on the Snowstorm Property?

No, Eagle Plains Resources has not reported any historical drilling on the Snowstorm Property. The company is now assessing the project for its bulk-tonnage potential, which may lead to future drilling programs.

What is the location and size of Eagle Plains Resources' (TSXV:EPL) Snowstorm Property?

The Snowstorm Property is located 45km east of Nakusp, British Columbia, within the historic Slocan Mining Camp. The property covers an area of 1026 hectares and contains 6 BC Minfile occurrences.

What is the historical significance of the area where Eagle Plains Resources' (TSXV:EPL) Snowstorm Property is located?

The Snowstorm Property is located in the historic Slocan Mining Camp, where active exploration began in the mid-1860s. The camp and surrounding areas contain 173 past-producing mines with reported total production exceeding 1,000,000kg of silver.