The planned program will include a minimum of 3,000m (9,842') of diamond drilling in 4-5 holes at the Hilo & West Basin Zones, following up on encouraging results obtained during 2022 drilling (details following).
To date, drill-hole VU22004 has been successfully extended from a previous depth of 597.2m to a total depth of 829.0m. The extension was planned to test beneath mineralization encountered during 2022 and to establish the base of a sub-basin interpreted to exist in the immediate area. These objectives have been met and valuable information gained on mineralization, alteration and stratigraphy in the immediate area.
Previously reported analytical results for VU22004 include: 11.55m @ 0.46% Zn, 0.02% Pb, 21.48 ppm Cd, 90.65 ppm Sn (545.50-557.05m), including o 1.50m @1.72% Zn, 68.83 ppm Cd, 32.09 ppm Sn (554.58-556.08m), including 0.22m @ 6.46% Zn, 259.00 ppm Cd, 39.10 ppm Sn (554.58-554.80m), and 0.18m @ 3.16% Zn, 126.50 ppm Cd, 26.80 ppm Sn (555.53-555.71m)
Drill-hole VU23001 has recently been completed to a total depth of 765.6m. This hole encountered significant cm-scale stratabound (laminated) and fragmental (clast) zinc, lead and silver mineralization consistent with that seen in VU22004. Underlying the mineralized laminations was a marked increase in iron sulphides (pyrite and pyrrhotite) in both net textures and cm-scale laminations associated with increased amounts of copper and arsenic with intense tourmaline alteration - all indications of hydrothermal venting nearby. Borehole surveys indicate that mineralization intercepted in VU23001 is located approximately 130m SE and stratigraphically correlates with mineralized horizons observed in VU22004, confirming a widespread distribution. Detailed logging and sampling is underway, with complete analytical results expected in the coming months. Visual observations and preliminary portable X-ray fluorescence ('pXRF') analysis of mineralized material confirms the presence of widespread alteration associated with narrow bands of high-grade mineralization consistent with that of sedimentary-exhalative ('sedex') deposits, particularly as extensively documented at the nearby
Highlights from preliminary pXRF analysis: 503.47m: >10% Zn, 5519 ppm Pb over 1cm (stratabound) 506.20m: 4.09% Zn, 3.49% Pb over2cm (stratabound) 506.68m - mineralized clast: 6.26% Zn, 3.79% Pb 513.28m: 2.78% Zn, 1.89% Pb over 2cm (stratabound)
The reader is cautioned that pXRF data should be treated only as an indication of elements including lead and zinc that are present at the particular location in which the pXRF is placed on a drill core. All pXRF data is point data and the data collected at that point may not be representative of all the pXRF detectable elements occurring over an extended interval. The Company has no intention of using pXRF data for the purpose of weighted average calculations but does compare and evaluate pXRF point data with results of chemical analyses once received. The Company relies on chemical assays from an independent certified laboratory to determine the 'true' values of lead and zinc occurring in sampled drill core, as well as all other elements the Company is targeting at the Vulcan Property. The Company expects these assays to be available to the public once certified analytical results are received and evaluated.
Drill-hole VU23002 is now underway and is testing the area northeast of VU22004. It is planned to test depths of up to 700m.
Vulcan consists of 12,400ha located 30km west of the world-class
Management of Eagle Plains considers the Vulcan project to hold excellent potential for the presence of sedex zinc/lead/silver mineralization. Rocks underlying Vulcan are within the same sedimentary sequence and host occurrences, with mineralization and alteration styles similar to those observed at and adjacent to
The
Vulcan Project History
Sullivan-style mineralization was first reported in the mid-1950s at Vulcan. During the 1970s and 1980s, Texas Gulf Sulphur and later
Since acquiring the initial claims on the property in 2002, Eagle Plains has completed an extensive compilation of all existing data, followed in 2006 by a 125 line-km helicopter-borne time-domain geophysical survey flown at 200m spacing. Additional claims were added to the property position as they became available through staking. Systematic geochemical, geological and geophysical programs were conducted by Eagle Plains and its partners from 2011-2019.
In
In 2022, Eagle Plains completed a 537 line-km helicopter-borne high-resolution aeromagnetic survey. Geophysics was followed-up with a 3-hole, 1700m diamond drilling program. Hole VU22004 identified sedex-style mineralization at the
Update on Slocan Graphite Property Option
Eagle Plains reports that is has received formal notice from option partner
About
Based in
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 2011-2022 on Eagle Plains-related projects exceed
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.
Contact:
Tel: 1 866 (486 8673)
Email: mgl@eagleplains.com
Cautionary Note Regarding Forward-Looking Statements
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.
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