Slocan Graphite Project Sold to Weaver Energy
Eagle Royalties (CSE:ER) announced that Eagle Plains Resources (TSX-V:EPL) has sold the Slocan Graphite Project in southern British Columbia to Weaver Energy Corp., a private Ontario-based company. Eagle Royalties maintains a 2% net production royalty on the property, with Eagle Plains retaining the option to purchase 1% of the royalty for CDN$1,000,000. Weaver Energy will assume all royalty obligations related to the Project.
Eagle Royalties (CSE:ER) ha annunciato che Eagle Plains Resources (TSX-V:EPL) ha venduto il Slocan Graphite Project nel sud della Columbia Britannica a Weaver Energy Corp., una compagnia privata con sede in Ontario. Eagle Royalties mantiene un royalty netto di produzione del 2% sulla proprietà, con Eagle Plains che conserva l'opzione di acquistare l'1% del royalty per CDN$1.000.000. Weaver Energy assumerà tutti gli obblighi di royalty relativi al Progetto.
Eagle Royalties (CSE:ER) anunció que Eagle Plains Resources (TSX-V:EPL) ha vendido el Slocan Graphite Project en el sur de Columbia Británica a Weaver Energy Corp., una empresa privada con sede en Ontario. Eagle Royalties mantiene un royalty neto de producción del 2% sobre la propiedad, y Eagle Plains conserva la opción de comprar el 1% del royalty por CDN$1.000.000. Weaver Energy asumirá todas las obligaciones de royalty relacionadas con el Proyecto.
이글 로열티 (CSE:ER)는 이글 플레인 리소스 (TSX-V:EPL)가 브리티시컬럼비아 남부에 위치한 슬로칸 그래파이트 프로젝트를 온타리오에 본사를 둔 사기업 위버 에너지 Corp.에 판매했다고 발표했습니다. 이글 로열티는 이 자산에 대해 2%의 순 생산 로열티를 유지하며, 이글 플레인이 CDN$1,000,000에 로열티의 1%를 구매할 옵션을 보유하고 있습니다. 위버 에너지는 프로젝트와 관련된 모든 로열티 의무를 인수할 것입니다.
Eagle Royalties (CSE:ER) a annoncé que Eagle Plains Resources (TSX-V:EPL) a vendu le Slocan Graphite Project dans le sud de la Colombie-Britannique à Weaver Energy Corp., une entreprise privée basée en Ontario. Eagle Royalties conserve un royalty net de production de 2% sur la propriété, avec Eagle Plains conservant l'option d'acheter 1% du royalty pour 1.000.000 CDN$. Weaver Energy assumera toutes les obligations de royalty liées au projet.
Eagle Royalties (CSE:ER) gab bekannt, dass Eagle Plains Resources (TSX-V:EPL) das Slocan Graphite Project im Süden von British Columbia an Weaver Energy Corp., ein privat geführtes Unternehmen mit Sitz in Ontario, verkauft hat. Eagle Royalties behält ein Netto-Produktionsroyalty von 2% auf das Grundstück, wobei Eagle Plains die Option behält, 1% des Royalties für CDN$1.000.000 zu erwerben. Weaver Energy wird alle mit dem Projekt verbundenen Royalty-Verpflichtungen übernehmen.
- Eagle Royalties maintains 2% net production royalty on the property
- None.
CRANBROOK, BC / ACCESSWIRE / December 11, 2024 / Eagle Royalties (CSE:ER) has been advised that Eagle Plains Resources (TSX-V:EPL) has entered into a mineral property purchase and sale agreement with Weaver Energy Corp. ("Weaver"), a private company registered in Ontario, pursuant to which Weaver has acquired mineral titles comprising the Slocan Graphite Project (the "Project"), located in southern British Columbia. Eagle Royalties holds a
About the Slocan Graphite Project
The Slocan Graphite Project is located 28 km north of Castlegar, BC and consists of 14 mineral claims covering 2888 ha. The Project benefits from excellent infrastructure including a high-voltage transmission line within 1.2 km of the property boundaries, an extensive network of forestry roads on and around the property, and an existing graphite processing plant and facilities located 1.5 km west of the property which was recently purchased by Weaver.
The Slocan Graphite tenure covers the majority of the known graphite mineralization that defines the Tedesco Graphite Showing (MF 082FNW285). The showing is currently defined based on a cluster of more than 20 graphitic bearing grab samples, spatially associated with an arcuate 3 km x 1 km strongly conductive airborne EM anomaly. Grab samples by a previous operator (Anglo Swiss) returned total organic carbon contents up to 4.43 % carbon. Verification sampling by TerraLogic Exploration personnel in 2017 and 2019 returned total carbon values ranging from trace to
Graphite mineralization is hosted primarily in carbonate and calc-silicate lithologies within the Passmore Dome of the Valhalla Metamorphic Complex, a geologic setting consistent with a crystalline flake graphite deposit model. Previous operators have estimated the mineralized horizon to be up to 50m thick, however they cite that it is difficult to determine due to a lack of surface exposure. The horizon has never been tested by diamond drilling.
The high-quality, large flake character of the graphite mineralization found to date, spatial extent of conductivity from a 2010 airborne electromagnetic ("EM") survey, minimal historic exploration activity, excellent proximity to infrastructure and the favorable economic outlook for graphite as a strategic commodity makes Slocan Graphite a compelling project for continued exploration.
The Property has a Multi-Year Area Based (MYAB) in place application for the Property issued by the BC Ministry of Energy, Mines and Low Carbon Innovation that includes provisions for geophysical work, mechanical trenching and diamond drilling.
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 at the Slocan Graphite property. While the company considers the above historical information to be relevant to investors as it may indicate the presence of mineralization, the reader is cautioned that a Qualified Person has not done sufficient work to evaluate the potential of the property to contain an economic deposit and that there is no certainty that the property contains a graphite deposit.
Qualified Person
Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and a Director of Eagle Plains Resources Ltd., and Eagle Royalties Ltd. has prepared, reviewed, and approved the scientific and technical disclosure in this news release.
About Eagle Royalties Ltd.
Eagle Royalties benefits from maintaining a strong treasury and holds a diverse portfolio of 38 royalty interests in western Canada. Target commodities subject to royalties include a broad spectrum including critical metals, precious metals and industrial minerals. Its flagship royalty is associated with the AurMac Project located in Yukon, operated by Banyan Gold Corp. ER holds royalty interests ranging from
Eagle Royalties was previously a wholly-owned subsidiary of Eagle Plains Resources Ltd. ("EPL":TSX-V), incorporated in late 2022 to manage the diverse royalty holdings of EPL. In May 2023, ER listed on the CSE after being spun out to Eagle Plains' shareholders on a 1:3 basis by means of a plan of arrangement.
On behalf of the Board of Directors
"Tim J. Termuende"
President and CEO
For further information regarding ER, please contact Mike Labach,
Business Development Officer, at 1 866 HUNT ORE (486 8673)
Email: info@eagleroyalties.com or visit our website at https://www.eagleroyalties.com/
Cautionary Note Regarding Forward-Looking Statements
Neither the CSE nor any other regulatory body has reviewed or approved the contents of this news release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming financings, 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 Royalties Ltd.
View the original press release on accesswire.com
FAQ
What is the royalty structure for Eagle Royalties on the Slocan Graphite Project?
Who purchased the Slocan Graphite Project from Eagle Plains Resources?
Where is the Slocan Graphite Project located?
What happens to the existing royalty obligations after the sale to Weaver Energy?
