Latest news with #EaglePlains
Associated Press
4 days ago
- Business
- Associated Press
Eagle Plains Announces Uplisting to OTCQB Venture Market
CRANBROOK, BC / ACCESS Newswire / June 5, 2025 / Eagle Plains Resources Ltd. (TSXV:EPL)(OTCQB:EGLPF) ('EPL' or 'Eagle Plains') is pleased to announce that its common shares have been approved to uplist from the OTC Pink market to the OTCQB Venture Market (OTCQB), operated by OTC Markets Group Inc., effective as of market open June 05, 2025. Eagle Plains U.S. listing will trade under the symbol 'EGLPF' while the Company's primary Canadian listing will continue to trade on the TSX Venture Exchange under the symbol 'EPL'. Chuck Downie, President and CEO of Eagle Plains stated: 'The additional visibility and credibility provided by the OTCQB listing will improve Eagle Plains' access to U.S. capital markets and provide greater liquidity to U.S. investors.' The OTCQB Venture Exchange, established in 2010, is the premier marketplace for entrepreneurial and development stage U.S. and international companies that are committed to providing a high-quality trading and information experience for their US investors. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certification process. The OTCQB Venture quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors. About Eagle Plains Resources Based in Cranbrook, B.C., Eagle Plains is a well-funded, prolific project generator that continues to conduct research, acquire and explore mineral projects throughout western Canada, with a focus on critical metals integral to an increasingly electrified, decarbonized economy. The Company was formed in 1992 and is the ninth-oldest listed issuer on the TSX-V (and one of only three that has not seen a roll-back or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and through numerous spin outs has transferred over $100,000,000 in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable examples. Eagle Plains latest spinout, Eagle Royalties Ltd. (CSE:"ER') was listed on May 24, 2023, and holds a diverse portfolio of royalty assets throughout western Canada. On October 2, 2024, Eagle Plains announced announce the formation of a separate division within the Company that will give Eagle Plains' shareholders direct exposure to strategic opportunities in Canadian green energy transition. As a wholly owned subsidiary of Eagle Plains, Osprey Power Inc. ('OP') will focus on identifying and advancing innovative and diverse clean energy project portfolios in target markets throughout Canada, with an initial focus on Western Canada. 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 2010-2023 on Eagle Plains-related projects exceed $39M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 50,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development. 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 'C.C. (Chuck) Downie' President and CEO For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673) Email: [email protected] or visit our website at Cautionary Note 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 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. SOURCE: Eagle Plains Resources Ltd. press release
Associated Press
22-05-2025
- Business
- Associated Press
Eagle Plains Mobilizes Crews for 2025 Field Season
CRANBROOK, BC / ACCESS Newswire / May 22, 2025 / Eagle Plains Resources Ltd. (TSXV:EPL) ('EPL' or 'Eagle Plains') has mobilized two field crews to central BC to commence the first phase of 2025 work programs. Eagle Plains anticipates fieldwork on a minimum of 23 projects in 2025, funded by approximately $400,000 from Eagle Plains, with an additional $1.2M forecast to be funded by option partners. The 2025 work will be managed by Terralogic Exploration Inc. of Cranbrook, BC. All of the projects are owned 100% by Eagle Plains with some of the projects subject to underlying Net Smelter Royalty Agreements in favour of third parties, including Eagle Royalties Ltd. See 2025 Field Season Project Schedule here All of the early summer work will be exclusively on British Columbia projects, with later season exploration split between BC and Saskatchewan. Most of the May-June field programs will focus on evaluating alkalic porphyry copper-gold and epithermal gold targets hosted in the prolific Quesnellia and Stikinia Terranes. Fieldwork will include geological mapping, prospecting and geochemical (soil, silt and till) surveying. Project Details Lost Horse The 3,759 ha Lost Horse property is located in South-Central British Columbia, 99 km north of Kamloops and 27 km west-southwest of Clearwater. The property covers known gold-silver-copper-molybdenum-zinc veins and is a prospective target for copper-gold porphyry mineralization. Work by Eagle Plains in 2022 and 2024 suggest that mineralization on the property is likely related to low-sulphidation epithermal veining which could also indicate a buried, mineralized porphyry in the region. The project is fully permitted with a Multi-Year Area Based (MYAB) permit in place issued by the BC Ministry of Mining and Critical Minerals that includes provisions for geophysical work, mechanical trenching, access trail construction and diamond drilling. The project is 100% owned by Eagle Plains with a 1.5% NSR held by Eagle Royalties, which includes a 0.5% buy-back clause on part of the project. See Lost Horse Project Information and Map here Acacia The 4385 ha Acacia Project is located 60 km NE of Kamloops, BC. Acquired in 1999 for Volcanogenic Massive Sulphide ('VMS') deposit potential, it covers a stratigraphic package that hosts a number of base- and precious-metal deposits. The property is accessible via a network of all-weather logging and historical roads and is 100% owned by Eagle Plains with a 2% NSR held by Eagle Royalties containing a 1% buy-back clause in favour of Eagle Plains. Exploration at the Acacia by Eagle Plains and past operators has identified well-developed property-wide mineralization, alteration, geochemical and geophysical anomalies. Mineralization at the Twin Mountain Zone is hosted in a vein system with a strike length of 4km and widths to 10m with anomalous gold, silver, zinc and lead values along strike of the known occurrences, with approximately 1.8 km of prospective stratigraphy remaining relatively unexplored. The project is fully permitted with a Multi-Year Area Based (MYAB) permit in place issued by the BC Ministry of Mining and Critical Minerals that includes provisions for geophysical work, mechanical trenching, access trail construction and diamond drilling. See Acacia Project Information and Map here Black Diamond The 866 ha Black Diamond Property is located near Invermere, B.C. and covers a deep-seated mineralized structure traced over 12 km hosting high-grade polymetallic vein mineralization. It has significant potential to host classic manto or replacement-style ore bodies and contains multiple mineral occurrences that appear to be linked by a common structure. The project is 100% owned by Eagle Plains with a 2% NSR held by Eagle Royalties containing a 1% buy-back clause. As well as high grade Ag and Au, parts of the Black Diamond structure hosts antimony mineralization with grab samples from the Silver Spray Zone collected in 1995 returning from trace values up to 7.4% Sb. (BC ARIS 24236) This mineralization was never followed up but will be reevaluated as part of the 2025 work program. See Black Diamond Project Information and Map here Jake The 1,765 ha Jake Property is located 13km west of Clearwater. The project covers 5 BC Minfile gold and copper occurrences. Historic work at the Jake has defined distinct NW-trending IP anomalies coincident with anomalous gold in soil geochemical anomalies. Channel sampling of quartz shear veins exposed in trenches returned from trace values up to 14.7 g/t Au over 0.60m, 7.3 g/t Au over 2.67m, and 17.9 g/t Au over 0.50m. (BC ARIS 28808). Other copper-gold and epithermal gold projects that will see work include Hearne Hill South, the Woodjam, the Tiger and Tiger North, Copper Mountain West, and Q7. Rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property. Some of the above results were taken directly from MINFILE descriptions and assessment reports (ARIS) filed with the BC government. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person but form a basis for ongoing work on the subject properties. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties. Charles C. Downie, a 'qualified person' for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and a director of Eagle Plains, has reviewed and approved the scientific and technical disclosure in this news release. About Eagle Plains Resources Based in Cranbrook, B.C., Eagle Plains is a well-funded, prolific project generator that continues to conduct research, acquire and explore mineral projects throughout western Canada, with a focus on critical metals integral to an increasingly electrified, decarbonized economy. The Company was formed in 1992 and is the ninth-oldest listed issuer on the TSX-V (and one of only three that has not seen a roll-back or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and through numerous spin outs has transferred over $100,000,000 in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable examples. Eagle Plains latest spinout, Eagle Royalties Ltd. (CSE:"ER') was listed on May 24, 2023, and holds a diverse portfolio of royalty assets throughout western Canada. On October 2, 2024, Eagle Plains announced announce the formation of a separate division within the Company that will give Eagle Plains' shareholders direct exposure to strategic opportunities in Canadian green energy transition. As a wholly owned subsidiary of Eagle Plains, Osprey Power Inc. ('OP') will focus on identifying and advancing innovative and diverse clean energy project portfolios in target markets throughout Canada, with an initial focus on Western Canada. 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 2010-2023 on Eagle Plains-related projects exceed $39M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 50,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development. 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 'C.C. (Chuck) Downie' President and CEO For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673) Email: [email protected] or visit our website at Cautionary Note 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 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. SOURCE: Eagle Plains Resources Ltd. press release
Associated Press
08-05-2025
- Business
- Associated Press
Eagle Plains Provides Update on Saskatchewan Gold and VMS Projects
CRANBROOK, BC / ACCESS Newswire / May 8, 2025 / Eagle Plains Resources Ltd. (TSXV:EPL) ('EPL' or 'Eagle Plains') is pleased to provide an update on select properties in the La Ronge region of northeastern Saskatchewan, in the area of Ramp Metals' (TSX-V : RAMP) recent discoveries on their Rottenstone SW Project. The highlighted projects are owned 100% by Eagle Plains with no underlying royalties or encumbrances, and all are available for option. See Gold and Base Metals La Ronge Region Map HERE Campbell Lake The 7852 ha Campbell Lake property is located 73 km north of La Ronge, and is contiguous with the Rottenstone SW project. Eagle Plains acquired the property by staking immediately after Ramp announced the results from discovery hole Ranger-01, which returned 73.55 g/t Au over 7.5m (Ramp Metals NR June 17, 2024). The Campbell Lake property is underlain by metamorphic rocks assigned to the Rottenstone Domain, which also hosts mineralization at the Rottenstone SW Project. The Campbell Lake claims have seen very limited historical work, and Eagle Plains has not carried out any work on the property to date. Cook The 2741 ha Cook Project is located 92km northeast of La Ronge and overlies two Saskatchewan Mineral Deposit Index ('SMDI') occurrences. The Cook Showing (SMDI 2300), is reported to include historical channel samples up to 1m @ 73.7 g/t (2.612 oz/ton) Au and is associated with lesser Pb-Zn-Cu mineralization. The PA Showing (SMDI 2301) reports historical grab samples up to 4.5 g/t Au (0.161 oz/ton), associated with molybdenum (Mo). Mineralization identified on the property is associated with quartz veins and shear zones up to 50cm in width, hosted in intrusive, metasedimentary and metavolcanic rocks. 2023 work on the property by Terralogic Exploration Inc. focused on locating the historic Cook SMDI showing and collecting grab samples for modern fire assay and multi-element analysis. Results confirmed the presence of high-grade vein-hosted gold mineralization at the Cook showing. Grab sample CFCKR001 contained visible gold hosted in a 10 cm wide vein and returned 9.01 g/t Au. Grab sample CFCKR004, comprised of quartz-vein material from the same vein, returned 10.8 g/t Au. Grab Sample VBCKR002, in-situ vein material collected from along a trench wall, returned 67.7 g/t Au and 0.19% Pb. Veins are considered to be open along strike to the southwest and northeast and have never been drill tested. See Cook web page HERE Elizabeth Lake The 1266 ha Elizabeth Lake Project, located 21km north of La Ronge, covers the historic Elizabeth Lake Cu-Ag VMS deposit (SMDI 0733). See Elizabeth Lake Web page HERE The Elizabeth Lake Deposit is structurally complex, with mineralization occurring in lenses, pods, veins and disseminations in shear zones hosted by sericite schists. The mineralized zone has a strike length of about 625 m (2050.5 ft), defined by 36 diamond drill holes for a total of 10,147m (33,291 feet) of core. Select historical drill core is stored at the Saskatchewan Precambrian Geological Laboratory in La Ronge. Two main lenses, the North Zone and the South Zone, have been defined with both Zones thought to be open to depth. The following table outlines significant historical drill intercepts: Table 1- Significant Drill Intercepts-Elizabeth Lake Project ** Saskatchewan Mineral Assessment File 73P06-0061 Historic work at Elizabeth Lake includes diamond drilling programs by Noranda (1968), Canadian Nickel (1969) and Uranium Valley Mines (1970). The last public data on the property was generated in 2012 by Kenna Capital Corp. who flew an airborne electromagnetic and horizontal magnetic geophysical survey that included part of the current Elizabeth Lake property. The survey identified a weakly conductive response over the Elizabeth Lake deposit, and a stronger conductor east of the deposit area that has not been tested. A number of different historical resources have been estimated for the Elizabeth Lake Deposit. The first published resource was by Uranium Valley Mines in 1970 with 4,340,000 short tons grading 0.63% Cu or 2,158,000 short tons grading 0.89% Cu or 725,000 tons grading 1.86% Cu, 0.44 oz/ton Ag over an average width of 11.3 ft. In 1996 Claude Resources released a drill indicated reserve of 6,700,500 tons grading 0.68% Cu, including 1,500,000 tons grading 1.56% Cu and 14.9 g/t Ag. The 2003 Saskatchewan Exploration and Development Highlights, published by the Saskatchewan Ministry of Energy and Resources, quotes a Geological Resource at Elizabeth Lake of 4,985,938 tonnes grading 0.73% Cu. (SMDI 0733) 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 the definitions of current mineral resources or mineral reserves definitions prescribed by National Instrument 43-101 or the Canadian Institute of Mining, and are disclosed only as indications of the presence of mineralization and are considered to be relevant as a guide for additional work. The historical models and data sets used to prepare these historical estimates are not available to Eagle Plains, nor are any more recent resource estimates or references to historic resources are taken from SMDI 0733. Joey The 834 ha Joey property, located 86km northeast of La Ronge, is bisected by Saskatchewan Highway 102. The property overlies 8 SMDI gold occurrences with mineralization hosted in veins and shears within mafic metavolcanic rocks assigned to the La Ronge Domain, with most of the SMDI occurrences discovered in the mid 1980's. Various operators including SMDC, Golden Rule Resources and Golden Band Resources have been active in the area starting in 1977, completing prospecting, soil and till geochemical sampling, ground and airborne geophysics. In 1988-89, a partnership between SMDC and Troymin Resources Inc. completed 13 shallow drill holes (983m) which tested 5 of the known gold occurrences. The best intercepts were from the Joey Showing area (SMDI 2421) which returned 28.2 g/t Au over 1m from 10.1-11.1m in drillhole BR8-5, and BR8-7, which returned 10.9 g/t Au over 1.5m from 54.4 - 55.9m (SMAF 73P15-0084). Some of the above results were taken directly from the SMDI descriptions and assessment reports (SMAD) filed with the Saskatchewan government. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person, but form a basis for ongoing work on the subject properties. Eagle Plains' management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties. Charles C. Downie, a 'qualified person' for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and a director of Eagle Plains, has reviewed and approved the scientific and technical disclosure in this news release. About Eagle Plains Resources Based in Cranbrook, B.C., Eagle Plains is a well-funded, prolific project generator that continues to conduct research, acquire and explore mineral projects throughout western Canada, with a focus on critical metals integral to an increasingly electrified, decarbonized economy. The Company was formed in 1992 and is the ninth-oldest listed issuer on the TSX-V (and one of only three that has not seen a roll-back or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and through numerous spin outs has transferred over $100,000,000 in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable examples. Eagle Plains latest spinout, Eagle Royalties Ltd. (CSE:"ER') was listed on May 24, 2023, and holds a diverse portfolio of royalty assets throughout western Canada. On October 2, 2024, Eagle Plains announced announce the formation of a separate division within the Company that will give Eagle Plains' shareholders direct exposure to strategic opportunities in Canadian green energy transition. As a wholly owned subsidiary of Eagle Plains, Osprey Power Inc. ('OP') will focus on identifying and advancing innovative and diverse clean energy project portfolios in target markets throughout Canada, with an initial focus on Western Canada. 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 2010-2023 on Eagle Plains-related projects exceed $39M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 50,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development. 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 'C.C. (Chuck) Downie' President and CEO For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673) Email: [email protected] or visit our website at Cautionary Note 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 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. SOURCE: Eagle Plains Resources Ltd. press release
Associated Press
17-03-2025
- Business
- Associated Press
Eagle Plains and Sun Summit Minerals Execute Option Agreement for the Theory Copper-Gold Project, British Columbia
CRANBROOK, BC / ACCESS Newswire / March 17, 2025 / Eagle Plains Resources Ltd. (TSX-V:EPL) ('EPL' or 'Eagle Plains') and Sun Summit Minerals Corp. (SMN; SMREF) ('SMN' or 'Sun Summit') are pleased to announce that further to their respective news releases dated January 13, 2025 the parties have entered into an option agreement (the 'Option') dated February 13, 2025, pursuant to which Sun Summit has been granted the exclusive right to acquire up to a 100% interest in the Eagle Plains' wholly-owned Theory copper-gold project ('the Project'). The 9676ha Theory Project is considered to be highly prospective for both epithermal gold and copper-gold porphyry deposits. The Project is located in north-central B.C. within the Toodoggone Mining District, and is in close proximity with Sun Summit's JD Project. The project area shares similar geology to the JD Project and Thesis Gold's Ranch-Lawyers Projects. The property is owned 100% by Eagle Plains, with 122 hectares of the property subject to an underlying 0.5% Net Smelter Royalty held by a third party. To exercise the Option, Sun Summit must make a series of cash payments and share issuances to Eagle Plains and fund exploration expenditures on the Project. These payments, share issuance and expenditures are separated into two phases, with the first Option entitling the Company to acquire a 75% interest in the Project by paying CA$255,000, issuing an aggregate of 750,000 common shares to EPL and funding CA$3,000,000 in exploration expenditures on the Project by over a four-year term, including diamond drilling in years three and four. Pursuant to the second phase of the Option, the Company may acquire an additional 25% interest in the Project (for a 100% total interest) by notifying Eagle Plains of its intent to increase its interest to 100% and making an additional one-time payment of CDN$ 1,000,000 cash, of which half may be paid in Sun Summit shares valued at the time of notification. If the First Option or the Second Option is exercised, a 2% smelter returns royalty will be granted to the Eagle Plains over the entire property, 1% of which may be repurchased for CA$1,000,000. Following the exercise of the First Option by the Company, the Company and the Vendor will form a joint venture which will administer the continued exploration and operation of the Project. Eagle Plains will serve as Operator under the terms of Option 1 and will reserve the right to use Terralogic Exploration Services as geoscience consultant. Following the exercise of Option 1 and in the event of failure to exercise Option 2, Sun Summit and EPL shall then form a 75/25 joint venture ('JV') to further explore and develop the Property. Following a target identification exercise, an exploration plan and budget will be defined for the 2025 season. Minimum expenditures in 2025 are $200,000 with work expected to be conducted from the JD camp. A new mineral exploration permit ('MX permit') will need to be secured for any future diamond drilling. The application process will be initiated by Sun Summit shortly after execution of this formal agreement. Chuck Downie, President and CEO of Eagle Plains, commented: 'We are excited to partner with the Sun Summit team to advance the Theory Project. Recent success by Sun Summit at their adjacent JD project, as well as spectacular drillhole intercepts from Amarc Resources at the nearby Joy Project underline the Toodoggone District as one of the premier copper-gold exploration camps in North America. Attracting Sun Summit to advance the early-stage Theory project after EPL completed a single, low-cost exploration program, validates Eagle Plains' project generator model.' Niel Marotta, CEO of Sun Summit, commented: 'We are pleased to finalize the Theory Option Agreement. This enlarged district scale Copper-gold project represents an exciting opportunity to revive exploration in the northern part of the Toodoggone mining district. We wish to thank Eagle Plains for having the business acumen to acquire an extensive land package with regional exploration targets. This deal, combined with the JD property, adds to the potential for a significant discovery and significantly enhances our strategic position in the Toodoggone Mining District. By combining the Theory and JD Projects, we create a district-scale opportunity with exceptional exploration potential and significant logistical synergies. The option terms are both manageable and structured, allowing us to maintain financial flexibility while advancing exploration efforts. This acquisition aligns with our goal of building a robust, diversified portfolio in this highly active mining district, and we look forward to unlocking the full potential of these assets.' See Theory Project Information and Map here The 9676ha Theory Property is located in northern BC within the Toodoggone Mining District. The district is endowed with both epithermal gold and porphyry copper-gold deposits, most notably the past producing Kemess Mine owned by Centerra Gold. The Omineca Resource Road provides access to the region from Mackenzie, BC. Recent road upgrades completed in 2023 by Thesis Gold on their Lawyers-Ranch Project brought road access to within 8 kms of the Theory property. Geology in the Theory region is primarily comprised of lower Jurassic Hazelton Group volcanics which unconformably overlie late Triassic Takla Group volcanics. The entire package of rocks is intruded by late Triassic and early Jurassic stocks. The majority of the Theory property encompasses the highly prospective Jurassic-Triassic unconformity (~200 Ma), termed by the BC Geologic Survey as the 'Red-Line', which is known to have a high spatial correlation to many of the known deposits throughout the Golden Triangle and Toodoggone. Exploration by previous operators has been intermittent since the mid-1960's and regional government surveys are sparse, however encouraging mineralization and alteration commonly associated with both epithermal and porphyry systems has been documented. The most significant documented work was completed in 1988 in the north and west areas of the Theory project area. Work consisted primarily of alpine ridge and subalpine prospecting traverses as well as reconnaissance soil sample lines in areas where no outcrop was present. This work documented occurrences of low-sulphidation epithermal-related mineralization including quartz-barite veins with up to 8.2 g/t Au, 195 g/t Ag, and 6.2% Cu at the DM occurrence (BC Minfile 094E 231)*; and a quartz carbonate vein system with up to 6.8 g/t Au and 1,480 g/t Ag at the Fred-1 occurrence (BC Minfile 094E 402)*. The BEV occurrences (BC Minfile 094E 259)*, interpreted as a Cu-Au porphyry target, returned select historical rock results up to 0.47% Cu, 10.5 g/t Ag, and 0.13 g/t Au. Detailed soils revealed a 1.6 by 2 kilometre copper-in-soil anomaly with peak soil results to 920 ppm Cu. Very little work is documented in the south and eastern parts of the property. Exploration success in the area has been highlighted by the recent announcement by Thesis Gold at their Lawyers-Ranch Project of a combined Measured and Indicated Mineral Resource of 4.0 Moz and an Inferred Mineral Resource of 727 Koz at respective grades of 1.51 and 1.82 g/t AuEq. (Thesis Gold, May 1, 2024 News Release) In late 2023 Eagle Plains acquired the property through staking and third-party agreements. After undertaking initial compilation and interpretation of historical data on the project, Eagle Plains completed a property wide, high resolution airborne magnetic and radiometric survey in July 2024. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person but form a basis for ongoing work on the subject properties. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties. Qualified Persons Charles C. Downie, a 'qualified person' for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and a director of Eagle Plains, has reviewed and approved the scientific and technical disclosure in this news release. About Eagle Plains Resources Based in Cranbrook, B.C., Eagle Plains is a well-funded, prolific project generator that continues to conduct research, acquire and explore mineral projects throughout western Canada, with a focus on critical metals integral to an increasingly electrified, decarbonized economy. The Company was formed in 1992 and is the ninth-oldest listed issuer on the TSX-V (and one of only three that has not seen a roll-back or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and through numerous spin outs has transferred over $100,000,000 in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable examples. Eagle Plains latest spinout; Eagle Royalties Ltd. (CSE:"ER') was listed on May 24, 2023, and holds a diverse portfolio of royalty assets throughout western Canada. On October 2, 2024, Eagle Plains announced announce the formation of a separate division within the Company that will give Eagle Plains' shareholders direct exposure to strategic opportunities in Canadian green energy transition. As a wholly owned subsidiary of Eagle Plains, Osprey Power Inc. ('OP') will focus on identifying and advancing innovative and diverse clean energy project portfolios in target markets throughout Canada, with an initial focus on Western Canada. 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 2010-2023 on Eagle Plains-related projects exceed $38M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 50,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development. 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 'C.C. (Chuck) Downie' President and CEO For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673) 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 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.
Yahoo
06-02-2025
- Business
- Yahoo
Eagle Plains Partner Xcite Resources Reports Results From Fieldwork at the Uranium City Area Projects, Saskatchewan
CRANBROOK, BC / ACCESS Newswire / February 5, 2025 / Eagle Plains Resources Ltd. (TSXV:EPL), or ("Eagle Plains") is pleased to announce that partner Xcite Resources Inc.(TSXV:XRI) ("Xcite"), has received the results from fieldwork conducted on the Beaver River, Black Bay, Don Lake, Lorado and Smitty projects. Thirty-six field stations were recorded, six of which were sampled for geochemical characterization at ALS Laboratories in North Vancouver, using the ME-MS61U and U-XRF15b analytical packages. Sample ID Ag (g/t) Co (ppm) Cr (ppm) Cu (ppm) U3O8 (%) Lab method ME-MS61U ME-MS61U ME-MS61U ME-MS61U U-XRF15b LO-QP-01 0.3 1 106 15 0.004 SM-QP-01 0.29 14 11 3 0.116 DN-QP-01 8.08 282 35 53 0.004 DN-QP-02 0.51 17 78 20 0.003 BB-QP-01 6.72 168 40 183 1.792 BU-QP-01 0.33 55 89 789 0.131 The site visit, in parallel with the assaying, validated the historically established potential for Beaverlodge-style and basement-hosted uranium mineralization within the project. This conclusion is based on the presence of: Outcropping, largely northeast-southwest-trending tectonic fabric; Electromagnetic conductors that have been confirmed as graphite-rich pelites within or near major faults; Compelling property-wide evidence for hydrothermal alteration; Uranium mineralization with corresponding elevations in pathfinder elements. These factors, along with the presence of a substantial uranium endowment in both basement rocks and Athabasca basin cover rocks, indicate excellent potential for economic uranium mineralization within the project. The mineralization, structures and alteration identified on the claims to date are strong indicators of the possibility of a nearby source for the uranium mineralization. About the Beaverlodge Uranium District See EPL / Xcite Athabasca Basin area map here The Don Lake, Black Bay, Lorado, Gulch, Beaver River, and Smitty projects are located in the Beaverlodge District near Uranium City in the Lake Athabasca region of Saskatchewan. Occurrences of uranium mineralization are abundant in the Uranium City area and have been explored and documented since the 1940s. The Beaverlodge camp was the first uranium producer in Canada, with historic production of approximately 70.25 million pounds of U3O8 completed between 1950-1982, with ore grades averaging 0.23% U3O8. The two largest producers were the Eldorado Beaverlodge (Ace-Fay-Verna) mine and the Gunnar uranium mine. The Beaverlodge area has seen limited uranium-focused exploration since the early 1990's. Eagle Plains' management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the subject properties. Beaverlodge-style uranium deposits host structurally-controlled, high-grade mineralization in veins and breccia-fills within basement rocks. Mineralization often occurs at geological contacts and consists of structures filled with hematite, chlorite and graphite associated with pitchblende. Uranium City Option AgreementsUnder the terms of the agreements, Xcite may earn an 80% interest in each of the Don Lake, Black Bay, Lorado, Gulch, Beaver River, and Smitty projects by completing CDN$3,200,000 in exploration expenditures, issuing 750,000 common shares of Xcite and making cash payments to Eagle Plains of CDN$55,000 over four years, for an aggregate of CDN$19,200,000 in exploration expenditures, 4,500,000 shares and $330,000 in cash to Eagle Plains. Upon Xcite fulfilling the terms of any or all of the earn-in agreements, an 80/20 joint venture will be formed, with Eagle Plains retaining a carried interest in all expenditures until delivery by Xcite or its assigns of a bankable feasibility study. During the option earn-in period, XRI will be appointed as operator, and EPL will manage the exploration programs under the direction of a joint technical committee. The projects are owned 100% by EPL, which will retain an underlying 2% NSR royalty on the each of the properties. Iron Range Project UpdateEagle Plains has formally notified an arm's length private Alberta company that it has defaulted on the performance requirements of the Option Agreement between the private Alberta company and Eagle Plains on the Iron Range project and that the Option Agreement is terminated. Qualified PersonTechnical information in this News Release has been reviewed and approved by C.C. Downie, a director and officer of Eagle Plains, hereby identified as the "Qualified Person" under N.I. 43-101. About Eagle Plains ResourcesBased in Cranbrook, B.C., Eagle Plains is a well-funded, prolific project generator that continues to conduct research, acquire and explore mineral projects throughout western Canada, with a focus on critical metals integral to an increasingly electrified, decarbonized economy. The Company was formed in 1992 and is the ninth-oldest listed issuer on the TSX-V (and one of only three that has not seen a roll-back or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and through numerous spin outs has transferred over $100,000,000 in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable examples. Eagle Plains latest spinout; Eagle Royalties Ltd. (CSE:ER) was listed on May 24, 2023, and holds a diverse portfolio of royalty assets throughout western Canada. On October 2, 2024, Eagle Plains announced announce the formation of a separate division within the Company that will give Eagle Plains' shareholders direct exposure to strategic opportunities in Canadian green energy transition. As a wholly owned subsidiary of Eagle Plains, Osprey Power Inc. ("OP") will focus on identifying and advancing innovative and diverse clean energy project portfolios in target markets throughout Canada, with an initial focus on Western Canada. 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 2010-2024 on Eagle Plains-related projects exceed $39M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 50,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development. 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 of Eagle Plains "C.C. (Chuck) Downie, and CEO For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)Email: mgl@ or visit our website at Cautionary Note Regarding Forward-Looking StatementsNeither 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 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. SOURCE: Eagle Plains Resources Ltd. View the original press release on ACCESS Newswire
