Welcome to our dedicated page for Eagle Plains Res news (Ticker: EGPLF), a resource for investors and traders seeking the latest updates and insights on Eagle Plains Res stock.
About Eagle Plains Resources (EGPLF)
Eagle Plains Resources Ltd. is a seasoned, well-funded project generator with a rich history in acquiring and advancing grassroots mineral exploration projects across western Canada. Founded in 1992 and based in Cranbrook, BC, the company leverages advanced geophysical methods such as VTEM and MobileMT surveys, airborne electromagnetic techniques, and comprehensive drilling campaigns to identify high-potential mineral deposits. Its portfolio spans critical metals including uranium, gold, silver, copper, graphite, and polymetallic veins, addressing the growing demand for strategic resources in an electrified, decarbonized economy.
Business Model and Strategic Partnerships
Eagle Plains Resources distinguishes itself through a robust business model that focuses on acquiring exploration properties with significant potential and collaborating with experienced technical teams. The company utilizes innovative earn-in option agreements which allow partners to fund exploration efforts while sharing both risk and reward. This model has led to several successful spinouts and partnerships, including the creation of Eagle Royalties Ltd., which encapsulates a diversified royalty portfolio, and Osprey Power Inc., a wholly-owned subsidiary that expands exposure to clean energy opportunities.
Exploration Techniques and Project Portfolio
The company’s exploration arsenal includes state-of-the-art geophysical tools and methodologies including airborne magnetic surveys, detailed geological mapping, and diamond drilling. Projects like the Dufferin Project—targeting unconformity- and basement-hosted uranium deposits in the Athabasca Basin—demonstrate its technical prowess. In addition, Eagle Plains holds assets such as the Snowstorm Property with polymetallic veins, the Slocan Graphite Project with proximity to established processing facilities, and the Theory copper-gold project as well as the Iron Range gold project, all highlighting the breadth and depth of its exploration efforts.
Market Position and Industry Significance
Operating on the TSX Venture Exchange, Eagle Plains Resources is one of the oldest listed issuers, renowned for its disciplined approach to value creation and transparent project development. The company’s methodical application of advanced exploration techniques and strategic acquisition of mineral properties has solidified its reputation as a knowledgeable and resilient player in the resource exploration space. Its contributions extend beyond resource discovery, enhancing shareholder value through the creation and execution of spinouts that have generated significant market interest.
Commitment to Transparency and Technical Excellence
Embodying the principles of Expertise, Experience, Authoritativeness, and Trustworthiness, Eagle Plains Resources adheres to rigorous exploration standards and comprehensive reporting practices. Each project is backed by detailed technical analyses and geophysical survey data, emphasizing the company's commitment to methodological integrity and transparent communication with investors. This clear, data-driven approach ensures that stakeholders receive a thorough understanding of the company’s operational model and its substantial exploration capabilities.
Eagle Plains Resources has announced that option partner Rex Resources Corp. has mobilized field crews to the Kalum Property in British Columbia, aiming to explore the site with an investment plan totaling $3 million in exploration expenses, $500,000 in cash payments, and 1 million shares over four years. The 2,871 ha property shows potential for high-grade gold-silver deposits, drawing from its historical exploration success, including a notable 35g/t Au find. The 2022 work will feature various geological mapping and prospecting activities.
Eagle Plains Resources Ltd. has successfully closed a non-brokered private placement of 7,571,058 flow-through units at $0.17 CDN per unit, raising $1,287,080 CDN. Each unit includes a flow-through common share and one-half warrant exercisable at $0.25 CDN for 24 months. The offering involves related party transactions, totaling 1,250,000 units for $212,500. The funds will be allocated for exploration in British Columbia and Saskatchewan, with expectations for 2022 taxation year benefits.
Eagle Plains Resources has entered a formal option agreement with Annacotty Resources for a 60% interest in the Donna Property in British Columbia. Annacotty will invest $4 million in exploration, pay $520,000 in cash, and issue 1.2 million shares to earn this interest over five years. The Donna Property spans 11,494 hectares and is well-positioned within a mineral-rich area but has seen limited exploration. Eagle Plains has invested significantly in previous exploration activities, including 1,152m of diamond drilling.
Eagle Plains Resources Ltd. has successfully closed a non-brokered private placement, as announced on June 30, 2022. The financing generated gross proceeds of $1,287,080 CDN from the sale of 7,571,058 flow-through units at $0.17 CDN per unit. Each unit includes a common share and a warrant exercisable at $0.25 CDN for 24 months. Proceeds are earmarked for exploration projects in British Columbia and Saskatchewan. Notably, management has a strong history of enhancing shareholder value, with over $100 million transferred to shareholders since inception.
Eagle Plains Resources Ltd. plans a non-brokered private placement of up to 7,000,000 flow-through units, priced at $0.17 CDN per unit, aiming for gross proceeds of $1,190,000 CDN. Each unit comprises a flow-through common share and a half non-flow-through common share purchase warrant, with a 24-month exercise price of $0.25 CDN. An additional 10% overallotment is authorized. The proceeds will fund exploration projects in British Columbia, Saskatchewan, and Yukon. The financing closing is expected in July 2022.
Eagle Plains Resources partners with Rockridge Resources to advance the Knife Lake Project in Saskatchewan. The recent completion of 3D Geophysical Plate Modelling utilizing VTEM data reveals up to 15 km of conductive anomalies, aiding in targeted drilling set to commence in mid-July 2022. Rockridge, fully funded for the program, focuses on the Gilbert Lake target area, anticipated to yield valuable copper and other mineral occurrences. This initiative follows successful historical drilling, which identified significant mineralization, including 2.03% Cu in previous drill results.
Eagle Plains Resources Ltd. has initiated a diamond drilling program at its 100% owned Iron Range Project in Southern British Columbia. The drilling, consisting of 5-6 holes totaling 3,500 meters, is expected to last 8-9 weeks, with Hole IR22049 currently reaching 725 meters. The option partner can earn a 60% stake by investing $3.5 million and making $250,000 in cash payments to Eagle Plains. The project has historically shown potential for iron-oxide copper-gold and lead-zinc-silver mineralization, although past drilling has yielded varying results.
Eagle Plains Resources (TSXV:EPL) and Shooting Star Acquisition Corp. have signed an option agreement for the Eldridge Property in Saskatchewan. Shooting Star can earn a 60% interest by investing $4 million, paying $500,000, and issuing 1 million shares over four years. The Eldridge Property covers 13,500ha and is situated in a geologically promising area. Historical exploration has been minimal, but recent assessments indicated significant gold potential, with assays ranging from 0.1 - 9.7 ppb. A follow-up exploration is recommended to further evaluate the property.
Eagle Plains Resources announces that its option partner Rockridge Resources plans to initiate a fully funded drilling program at the Knife Lake Copper VMS Project in Saskatchewan, set for mid-July 2022. The program targets geophysical areas identified in 2021, focusing on the highly prospective Gilbert Lake zone while evaluating other targets across the property, which spans 56,865 hectares. Rockridge has secured contracts for necessary logistics and aims to update shareholders on the exploration progress, highlighting the project's potential in a favorable mining jurisdiction.
Eagle Plains Resources has completed a 10-hole, 1867m drill program at its 100%-owned Olson property, revealing significant gold mineralization across various zones. SKRR Exploration may earn up to a 75% interest in the Olson property through a structured agreement. Key findings include 50.35m @ 0.56 g/t Au at Michael's Lake and 8.07m @ 1.62 g/t Au at the Olson Zone. The program, fully funded by SKRR, confirms the presence of high-grade gold and extends known mineralized trends. The Olson property remains significantly underexplored, with numerous opportunities for further discoveries.
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