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Eagle Plains Completes Acquisition of George Lake Critical Metals Deposit
CRANBROOK, BC / ACCESSWIRE / June 13, 2023 / Eagle Plains Resources Ltd. (TSXV:EPL) ("EPL" or "E...
About this update from Eagle Plains Resources Ltd.
[{"type":"text","content":"Eagle Plains Completes Acquisition of George Lake Critical Metals DepositCRANBROOK, BC / ACCESSWIRE / June 13, 2023 / Eagle Plains Resources Ltd. (TSXV:EPL) (\"EPL\" or \"Eagle Plains\") is pleased to report that the company has completed the acquisition by staking and claim purchase from unrelated third parties of the 3694ha George Lake critical metals project located 280km north of La Ronge, Saskatchewan. The project has excellent access and is located on an all-weather spur road along Saskatchewan Highway 905.The property overlies 8 Saskatchewan Mineral Deposit Index (\"SMDI\") occurrences including the George Lake Zn Deposit which is reported to contain a historical resource grading 2.63MT grading 3.67% Zn and 0.53% Pb (SMDI 0663)*. Zinc and lead mineralized boulders were discovered in the George Lake area in 1965 which led Falconbridge Nickel Mines to acquire a large land position in the area, resulting in a 34-hole diamond drill program in 1969-70 which defined the George Lake deposit. The deposit contains sedimentary-exhalative (\"sedex\") style mineralization, with a higher-grade core of >5% Zn. Eagle Plains holds a 100% interest in claims comprising the property, subject to a 2% royalty held in favour of Eagle Royalties Ltd. Eagle Plains recently completed a detailed compilation of all available data relating to the property and intends to carry out preliminary fieldwork this season.George Lake Project Highlights10,050m of drilling completed in 90 holes, with the best drill holes returning 57.9m grading 3.42% Zn (including 9.1m grading 7.1% Zn) and 47.8m grading 4.5% Zn and 0.61% Pb (including 8.0m grading 7.0% Zn and 1.4 % Pb);Historical resource of 2.63MT grading 3.67% Zn and 0.53% Pb reported in 2003 (SMDI 0663)*;Deposit dimensions are approximately 35m thick x 150m in width x 800m in length, open to depth and along strike;Potential for discovery of extensions of existing mineralization and other discrete mineralization elsewhere on the property.*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 o...