Rex has the exclusive right to earn a 60% interest in the property by completing exploration expenditures of
2022 Fieldwork and Results
The focus of the 2022 fieldwork was to define targets for future drill programs. In total, 11 field days were spent on the property, resulting in the collection of 67 rock samples, 277 soil samples, and 64 geological stations. The 2022 field program was managed by Terralogic Exploration Services of
Rock sample results ranged from trace values to a high of 12.55 g/t Au. Of the 67 rock samples analysed, thirteen assayed over 1.0 g/t Au. The samples were collected from massive, sulphide-bearing quartz veins up to 2.5m in width cutting both
Significant 2022 Rock Sampling Results
Sample | Type | Zone | Description | Au (g/t) | Ag (g/t) |
EMKMR032 | grab | Babit | 1% oxidized pyrite hosted in quartz vein. | 12.55 | 1.6 |
EMKMR003 | grab | Bling | 5% pyrite hosted in massive quartz vein. | 4.82 | 3.2 |
EMKMR030 | grab | Babit | 10 cm quartz vein with 2% pyrite and trace galena. | 4.63 | 4.4 |
EMKMR037 | grab | Hat | Ankerite altered, sparry quartz vein float. | 3.83 | 248 |
EMKMR033 | grab | Babit | Massive, limonite-stained quartz vein. | 2.79 | 1.7 |
EHKMR007 | grab | Tracy | Quartz vein, weathered orange on surface. Net-texture and disseminated galena mineralization. | 2.36 | 125 |
EEKMR003 | grab | Rico | Pyrite-bearing quartz vein. | 1.89 | 2 |
EHKMR006 | grab | Tojo | Quartz vein with dark red/maroon brown mineral. | 1.595 | 7.8 |
EHKMR009 | grab | Hat | Quartz vein hosting 5% massive galena. | 1.555 | 419 |
EMKMR019 | grab | Tojo | 10 cm quartz vein with trace sphalerite and trace galena. | 1.535 | 9.9 |
EMKMR004 | 1.5m chip | Bling | Quartz vein and surrounding mudstone wall rock. 5% pyrite hosted in vein. | 1.265 | 2.4 |
EHKMR005 | grab | Tojo | Quartz vein with oxidized sulphides. | 1.185 | 74.7 |
EMKMR023 | grab | Tojo | Massive, multistage quartz vein with oxidized sulphides. | 1.14 | 10.9 |
Rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property.
Soil sampling conducted in 2022 extended historic lines further east from the Bling-Rico zone, tested the southern aspect of the Tojo showing, and investigated the area between and below the Chris-Martin showings where limited outcrop precludes geological mapping or prospecting. Soil sample values ranged from below detection to a high of 390 ppb Au, with seventeen samples returning greater than 100ppb Au. The soil anomalies east of the Bling-Rico and between the Chris-Martin showings occur in areas that have seen very limited prospecting.
Rock samples were sent for geochemical analysis by ALS Global,
QA/QC for rock samples from the Kalum program included certified reference material (“CRM’s”) and blanks that were inserted into sample batches in order to verify the gold results from the laboratory. The reported CRM’s passed within 3 standard deviations and the blanks returned acceptable values.
Property Geology
The 2,871 ha property is flanked by a large intrusive stock that has intruded sedimentary rocks of the
Property History
View Kalum Project Overview Map here:
Eagle Plains acquired the property in 2003 and completed significant exploration programs in 2003 and 2004. The programs included a VTEM airborne survey, extensive geochemical programs, geologic mapping, and a 19-hole diamond drill program
The property area has seen exploration activity by various operators over the years, with the most recent diamond drilling carried out in 2012 by Clemson Resources, who drilled a single hole to test for high-grade mineralization in an area outside of present claim boundaries. Recent work by Eagle Plains included high resolution orthophoto and LIDAR surveys.
All work to date continues to support the interpreted potential for the Kalum Property to host both high grade gold-silver deposits and lower-grade bulk-tonnage type gold mineralization.
About
Based in
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.
In late 2022 Eagle Plains announced the formation of a separate division within the Company;
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.
On behalf of the Board of Directors
“
VP Exploration
For further information on EPL, please contact
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
Source:
2022 GlobeNewswire, Inc., source