Sun, 20 Jun 2021

CRANBROOK, BC / ACCESSWIRE / June 10, 2021 / Eagle Plains Resources Ltd. (TSXV:EPL) ('EPL' or 'Eagle Plains') has mobilized crews to commence drilling on its 100%-owned Donna Project located 60km east of Vernon, B.C.. Eagle Plains is planning a 5-7 hole, 1,500m (5,000') drill program to test for gold and silver mineralization associated with a prominent gold in soil geochemical anomaly delineated at the Gossan Zone and to complete the first-ever drilling in the area of the historical Morgan mine workings. The current program is a continuation of work which was suspended in early October, 2020 due to early onset of winter conditions.

The Donna Property is road-accessible and located within rocks of the prolific Quesnellia Terrane, host to many major B.C. porphyry deposits such as Highland Valley, Gibraltar, Mount Polley, Mount Milligan, Copper Mountain and others. Despite the rich endowment of mineralization in these rocks, the Donna area has seen relatively little exploration activity by industry or government. Placer gold claims overlie many of the creeks draining the Donna Property. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the Donna property.

See Donna Regional Projects Map here

The upcoming drilling program planned by Eagle Plains is designed to provide a test of near-surface, high grade precious metal mineralization and to search for signs of deeply buried porphyry-style mineralization.

See Donna Project Summary Map here

The core claims of the Donna property were acquired in 2016 by Eagle Plains with additional tenures subsequently added through staking. Certain claims comprising the property are subject to an underlying 2% royalty. The project area is located in the Monashee Mountains within the source headwaters of the historic Kettle River and Yeoward Creek placer gold camps. The claims lie within one of the largest clusters of anomalous values in gold and typical associated pathfinder elements identified in the British Columbia Regional Geochemical Surveys stream-sediment program carried out in the joint Federal - Provincial programs from 1985 -1990.

The Donna property is underlain by a sequence of marine sediments comprising carbonaceous black argillite, limestone, and volcanic rocks of Permian to Lower Triassic age. Locally these rocks were intruded by stocks and plugs of mafic-intermediate composition. The project area is considered to hold good potential to host intrusive-related gold mineralization.

Since acquiring the property, Eagle Plains has carried out annual systematic exploration including a 470 line-km geophysical survey in 2017 which followed a comprehensive compilation of all historical work. The property boasts a robust GIS database consisting of rock, soil, silt, till, trench and drill-hole results within and adjacent the property area. In July, 2020, EPL completed the purchase of historical crown grants covering workings documented at the St. Paul and Morgan mines (BCMINFILE 082LSE010), which include shafts, tunnels, winzes and an unknown number of open cuts and trenches, as well as a tramline and stamp mill that operated in the early 1900's. Recorded production from the St. Paul and Morgan deposits for the period 1914-1961 total 392 tonnes containing 5,630 grams of gold, 112,406 grams of silver, 3,720 kilograms of lead and 1,258 kilograms of zinc. Various geological reports and government publications report underground sampling returning values ranging from trace quantities to highs of up to 93.9 g/t (2.74 oz/t) gold and 60.3 g/t (1.76 oz/t) silver over a 0.6m sample width. All historical mine workings are currently inaccessible. The previous results were taken directly from the BCMINFILE descriptions and assessment reports filed with the BCEMPR. 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 at the Donna property.

No historical drilling activity has been reported on the St Paul/Morgan property. As announced on September 3rd, 2020, Eagle Plains recently completed a 211 line-km airborne magnetometer and radiometric geophysical survey on the property.

Donna project management will be carried out by TerraLogic Exploration Services of Cranbrook, B.C. under the supervision of Jarrod Brown, P.Geo. Drilling activity is expected to take 2-3 weeks to complete.

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 Resources Ltd., has prepared, reviewed, and approved the scientific and technical disclosure in this 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 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 and 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, the majority 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 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: mgl@eagleplains.com 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.

SOURCE: Eagle Plains Resources Ltd.



View source version on accesswire.com:
https://www.accesswire.com/650913/Eagle-Plains-Commences-Drilling-at-100-Owned-Donna-Gold-Project-South-central-British-Columbia

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