Eagle Plains acquires additional tenure and begins land work in 2021 on the Slocan Graphite property

CRANBROOK, BC / ACCESSWIRE / October 21, 2021 /Eagle Plains Resources Ltd. (TSX-V: EPL) is pleased to announce that it has mobilized teams to begin exploration work in the field Slocan Graphite Project located 34 km northwest of Castlegar, British Columbia. The project is 100% owned by Eagle Plains with no underlying royalties or charges. The property hosts several large outcrops containing flake graphite and floating occurrences known as the Tedesco Zone, which is interpreted to extend over 2.0 km. Prior to the start of field work, Eagle Plains acquired by staking an additional 188 ha of mineral tenure to increase the size of the property to 2387 ha. The work of the 2021 program will be managed by TerraLogic exploration services of Cranbrook, BC under the supervision of Jarrod A. Brown, P.Geo.

The current program will focus on prospecting and geological mapping in under-explored areas of the property in order to locate extensions of the known graphite mineralized horizon and to better understand the controls of mineralization.

View project location and summary map here

About the Slocan Graphite project

Graphite is a natural form of carbon and is an excellent conductor of electricity and heat. It is becoming increasingly important as an essential strategic component in the promotion of alternative energy solutions, including wind and solar power, hybrid vehicles and other alternative energy uses. It is also a mainstay of the steel production industry. Canada is currently ranked 5the largest supplier of graphite.

The Slocan Graphite project benefits from excellent infrastructure, including a high voltage transmission line within 1.2 km of the property lines, an extensive network of logging roads on and around the property, as well as a graphite processing and existing facilities located 1.5 km west of the property. , owned by Eagle Graphite Corporation.

Graphite mineralization was initially discovered in forest road outcrops in the late 1990s. Ground and airborne geophysical surveys were carried out in the project area in 2000 and 2010 respectively. Both surveys indicated strong conductive anomalies which correlate well with surface mineralization and are interpreted to extend along the strike and down dip of known occurrences. A limited number of documented samples have been taken from the Tedesco horizon and analyzed for carbon graphite ranging from trace values ​​to grades up to 3.36 and 4.43 percent.

Graphite mineralization is hosted primarily in carbonate and calc-silicate lithologies in the Passmore Dome of the Valhalla metamorphic complex, a geological setting compatible with a crystalline lamellar graphite deposit model. Previous operators estimated the mineralized horizon to be up to 50 m thick, but cite it is difficult to determine due to a lack of surface exposure. The horizon has never been tested by diamond drilling.

Former workers in the region concluded: “Although the graphite occurrences at Tedesco are in the early stages of exploration, geological, analytical and geophysical data indicate significant potential to form an economic deposit.“(BC Assessment Report 26537). Geologists at Eagle Plains are of the opinion that the high quality and large scale character of the graphite mineralization found to date, the spatial extent of the conductivity of an electromagnetic survey airborne (“EM”) of 2010, a minimal history of exploration activity, the excellent proximity to infrastructure and the favorable economic outlook for graphite as a strategic raw material make Slocan Graphite an attractive project for the pursuit of exploration and a potentially important component of Eagle Plain’s large and diverse portfolio of exploration projects. The project complies with EPL’s policy. to identify and acquire undervalued exploration projects during cyclical downturns in a particular commodity space.

Management cautions that the historical results were collected and reported by former operators and have not been verified or confirmed by a qualified person, but form a basis for the work in progress on the Slocan Graphite property. While the Company considers the above historical information to be relevant to investors as it may indicate the presence of mineralization, the reader is cautioned that a qualified person has not performed sufficient work to assess the potential of the property. to contain an economic deposit and that it is uncertain whether the property contains a graphite deposit.

Charles C. Downie, P.Geo., A “qualified person” for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and director of Eagle Plains Resources Ltd., prepared, reviewed and approved the disclosure science and technology in this press release.

About Eagle Plains Resources

Headquartered in Cranbrook, British Columbia, Eagle Plains continues to research, acquire and explore mining projects throughout Western Canada. The Company is committed to steadily increasing shareholder value by advancing our diverse portfolio of projects towards discovery through collaborative partnerships and the development of a highly experienced technical team. Eagle Plains also has significant royalty interests in Western Canadian projects covering a wide variety of commodities. Management is focused on advancing its most promising exploration projects. Additionally, 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 thriving communities by exploring and uncovering resource opportunities while building lasting relationships through honest and respectful business practices.

2011-2020 spending on Eagle Plains-related projects exceeds $ 22 million, most of which was funded by third-party partners. This exploration work resulted in approximately 37,000 m of diamond drilling and extensive ground exploration work facilitating the advancement of many projects at various stages of development.

On behalf of the board of directors

“Tim J. Termuende”
President and CEO

For more information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: [email protected] or visit our website at http://www.eagleplains.com.

Caution 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 press 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 title deeds, potential process of recovery of minerals, etc. Forward-looking statements deal with future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in these statements.

THE SOURCE: Eagle Plains Resources Ltd.

See the source version on accesswire.com:
https://www.accesswire.com/668950/Eagle-Plains-Acquires-Additional-Tenure-and-Commences-2021-Fieldwork-at-the-Slocan-Graphite-Property

About Joel Simmons

Check Also

Burmese junta powerless as currency drops 60% in four weeks

To say that various countries around the world are facing economic fallout would be an …