Eagle Plains Reports up to 76.30 g/t Gold at Snowstorm Project and Significantly Increases Land Package
CRANBROOK, BC / ACCESSWIRE / November 26, 2024 / Eagle Plains Resources (TSX-V:"EPL") is pleased to announce results from the 2024 field program at its 100%-owned Snowstorm Property, located 45km East of Nakusp, British Columbia. The property is host to polymetallic veins that carry significant gold-silver-lead-zinc±antimony mineralization. After reviewing 2024 results additional mineral claims were acquired through staking, increasing the property package to 2084 ha. The exploration program was conducted and managed by TerraLogic Exploration Inc. of Cranbrook, BC.
Highlights:
Significant historical workings located and prospected
High grade, vein hosted Au-Ag-Pb mineralization confirmed over 1.7km strike length
Pine Tree vein sample KBSWR014 (float) returned 76.30 g/t Au, 56.30 g/t Ag and 30.30% Pb
Snowstorm trench sample KBSWR015 (float) returned 2.64 g/t Au, 174.00 g/t Ag, 13.55% Pb and 0.16% Zn.
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 8 BC Minfile occurrences, one of which, the White Eagle (Minfile 082KSW126), is covered by an historical Crown Grant.
Mineralization at the Property is associated with quartz-calcite veins hosted in siliciclastic sediments of the Broadview Formation (Lardeau Group). Veins are closely associated with well-defined property scale thrust faults and are subparallel to cleavage. Results from historic data review and observations from the 2024 program have identified multiple meter-scale subparallel mineralized quartz-carbonate veins.
The 2024 Snowstorm exploration program consisted of a single day of mapping/prospecting and geochemical surveying and was successful in locating historical workings and assessing the reported high-grade nature of the showings. The Snowstorm project has potential for both high-grade veins and bulk-tonnage mineralization. No historical drilling has been reported on the property.
Snowstorm (MinFile 082KSW086):
The Snowstorm occurrence is marked by a series of 26 hand dug trenches dating back to 1930-1931. The trenches were positioned to explore for mineralized quartz float and were successful in exposing a 1.5m wide quartz vein in two locations, approximately ~300m NW of the Silver Sparrow adit. Field crews noted thin, mineralized quartz veins that are discordant to the main Snowstorm vein orientation and warrants further investigation and structural interpretation to determine economic significance. Sample KBSWR004 (grab) was collected from a 1.5m wide quartz vein exposed in a 15m long trench returned 9.87 g/t Ag, 0.23% Pb. Sample KBSWR005 (float) was collected from a mineralized waste dump at the base of the trench and returned 0.78 g/t Au, 136.00 g/t Ag, and 7.47% Pb and sample KBSWR015 (float) returned 2.64 g/t Au, 174.00 g/t Ag, 13.55% Pb and 0.16% Zn.
Silver Sparrow (Snowstorm Shaft) (MinFile 082KSW146)
Historical reports indicate a 6.1m inclined shaft into the Silver Sparrow Vein was developed between 1930-1931. The quartz vein is 1.0m wide at surface with historical results reported as 56.20% Pb, 0.55% Zn, 31.6 oz/ton Ag (1083.4 g/t) and 0.8 oz/ton (27.5 g/t Au). The shaft was successfully located in 2024 but is collapsed and not safe for entry. Field crews sampled a weakly mineralized section of the vein at surface that returned low analytical values.
Silver Sparrow (Pine Tree Vein)
The 0.5-1.0m wide Pine Tree quartz vein was discovered in 1988 and is exposed in 3 historical trenches. The vein is interpreted to represent the strike length extension of the Silver Sparrow Vein ~70m to the east. Sample KBSWR012 (grab) returned 2.96 g/t Au, 11.30 g/t Ag and 0.23% Pb. Sample KBSWR013 (float) returned 21.20 g/t Au, 42.20 g/t Ag, 2.14% Pb. Sample KBSWR014 (float) returned 76.30 g/t Au, 56.30 g/t Ag, and. 3.30% Pb.
White Eagle (MinFile 082KSW126)
The White Eagle Showing is covered by active crown grants and was not sampled during the 2024 program. Historical reports indicate up to 7 surface trenches and 2 adits were developed between 1928-1930 exposing 2 mineralized veins hosting sulphide ore shoots up to 0.6m in diameter. Historical sampling reported up to 74.8 g/t (2.2 oz/ton) Au, 1141.7 g/t (33.3 oz/ton) Ag and 33.80 % Pb.
Lakeview Trenches (MinFile 082KSW198)
Discovered in 1988 the Lakeview showing includes 2 small hand dug trenches exposing massive galena-sphalerite-pyrite mineralization hosted in 0.2m wide quartz veins. Rock sample MMSWR003 (float) collected downslope of the trenches returned 3.40 g/t Au, 17.20 g/t Ag, 0.57% Pb and 0.18% Zn.
West Ridge (MinFile 082KSW197)
Historic workings developed between 1928-1930 includes 7 trenches and a 15.2m shaft from the ridgetop and a 150m long adit. The mineralized quartz vein is up to 1.0m wide and hosts pyrite-galena-sphalerite-stibnite-tetrahedrite. Sample MKSWR001 (float) was collected downslope of a historic trench and returned 47.00 g/t Ag and 1.32% Pb.
Juno (MinFile 082KSW197)
The 2024 field work did not include the Juno showings. Developed around 1928 the vein was explored in multiple trenches and an adit. Reported grades include 1.4 g/t Au, 600.0 g/t Ag, 29.0% Pb and 29.8% Zn (Minister of Mines Annual Report 1925). The Juno showing requires future follow-up and assessment.
Rock grab samples and float samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property. The above historical results were taken directly from MINFILE descriptions and assessment reports (ARIS) filed with the BC government as well as results from the 2024 exploration program by Eagle Plains. 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 properties Management cautions that rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across 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.
On October 2, 2024, Eagle Plains announced the formation of a separate division within the Company that will give Eagle Plains' shareholders direct exposure to strategic opportunities in Canadian green energy transition. As a wholly-owned subsidiary of Eagle Plains, Osprey Power Inc. ("OP") will focus on identifying and advancing innovative and diverse clean energy project portfolios in target markets throughout Canada, with an initial focus on 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 at1 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.
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