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Eagle Plains Resources Ltd. (TSXV:EPL), also known as Eagle Plains, is a mineral exploration company based in Cranbrook, British Columbia. The company focuses on critical metals essential for the electrified, decarbonized economy. Eagle Plains was established in 1992 and is a prolific project generator with a diverse portfolio of projects throughout western Canada. The company has a long history of delivering shareholder value and transferring significant value to its shareholders through spinouts. Eagle Plains is actively involved in grassroots exploration projects covering basement and unconformity hosted uranium targets in Saskatchewan, including the Beaver River, Black Bay, Don Lake, Gulch, Larado, and Smitty projects.
Eagle Plains Resources Ltd. (EGPLF) has announced plans for its 2023 diamond drill program at the fully-owned Vulcan Project, located 30km from the Sullivan deposit. Scheduled to begin in mid-June, the program will encompass at least 3,000 meters of drilling at the Hilo & West Basin Zones, conducted by Terralogic Exploration Inc. Results from the previous 2022 drill program indicated potential mineralization, including significant intersections of sphalerite and galena. The management expresses confidence in the upcoming program's ability to uncover additional mineralizations linked to historical successes nearby, while cautioning that results from nearby deposits do not guarantee outcomes at Vulcan. The company has also reported progress on the Brownell Lake Project, where preliminary geophysical surveys have identified promising conductors for further exploration.
Eagle Plains Resources Ltd. has announced that its option partner, Pacific Imperial Mines Inc., has mobilized a geophysical team to the Brownell Lake project in Saskatchewan. This project is located 17 km northwest of Deschambault Lake and spans 1863 hectares. PPM may earn up to a 60% interest by investing $5 million, issuing 1 million shares, and making $500,000 cash payments over four years. A Time Domain Electromagnetic (TDEM) survey will cover 12 line kilometers to enhance mineralization understanding. Historical drilling has shown promising results, including 3.35 m of 0.48% Cu and 2.28% Zn. Despite the positive data, Eagle Plains cautions these results are historical and not current mineral resources according to NI 43-101 standards. This exploration effort is part of a broader strategy to enhance shareholder value through mineral project development.
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