Saskatchewan Gold! Eagle Plains Completes Airborne Geophysical Survey, Commences Exploration at Fisher, Chico and Orchid Gold Projects
Cranbrook, B.C., September 12th, 2016: Eagle Plains Resources Ltd. (TSX-V: “EPL”) has mobilised field crews to commence work immediately on Eagle Plains’ 100% owned Fisher, Chico and Orchid gold projects located approximately 125km east of La Ronge, Saskatchewan. The Fisher project is located adjacent to and directly south of Silver Standard Resources’ Seabee/Santoy mining operations. Fieldwork follows Phase 1 exploration work performed earlier on the Fisher project, and a 4000 line-km airborne geophysical survey announced August 29th, 2016. Work on the Chico and Orchid projects mark the first systematic exploration work carried out to date on the properties by Eagle Plains.
A map outlining the respective project areas may be found here:
https://www.eagleplains.com/sites/default/files/Fisher_Chico_Location_and_Highlights_2016_09_07.pdf
The Chico structural zone comprises a north/northeast-trending 20m- to 150m-wide ductile shear zone that hosts significant sulphides and ribbon quartz veining. Trenching and drilling activities carried out by Corona Corporation and Cameco from 1988 to 1993 defined a mineralized strike length of over 1400m. Corona’s southern trench known as the Royex showing returned five chip samples greater than 1000 ppb gold with a best (chip) sample of 14.3 g/t Au over 1m (AR 63M06-0034). Follow-up diamond drilling by Cameco near the Royex trench returned five significant intercepts ranging from 0.51 g/t over 1.5m, to 36.0 g/t over 0.3m (AR 63M06-0041). Mineralized shear zones and quartz veining that define the Chico zone are hosted in diorite and granite and especially along the sheared contact between these two units. The Chico and the adjacent parallel Ed and Western structural zones are believed to be splay structures off the larger Tabbernor fault system. Despite the significant surface discoveries of gold along the three structural trends, mineralization remains largely untested at depth and along strike extensions. Eagle Plains has initiated permitting for future drilling within the property area.