Eagle Plains Partner Earthwise Intercepts Mineralization in all Holes at the Iron Range Precious Metals Project, BC.
Rhea-AI Summary
Eagle Plains (OTCQB:EGPLF) reported that partner Earthwise Minerals completed a 3‑hole, 1,182m diamond drill program at the Iron Range precious metals project in SE British Columbia, intersecting polymetallic mineralization in all holes within the Talon Zone structure.
Samples were sent for gold fire assay and multi‑element analysis. Earthwise may earn up to an 80% interest by paying CA$1.25M in cash, issuing 1.5M shares, funding CA$4M in exploration, and completing a bankable feasibility study, while Eagle Plains retains operator status and a potential 2% smelter returns royalty.
AI-generated analysis. Not financial advice.
Positive
- Three 2026 drill holes totaling 1,182m all intersected polymetallic mineralization at the Talon Zone
- Earthwise can fund up to CA$4,000,000 in exploration to earn a project interest
- Option terms include CA$1,250,000 in potential cash payments plus 1,500,000 Earthwise shares to Eagle Plains
- If an option is exercised, Eagle Plains retains a 2% smelter returns royalty, 1% buyable for CA$1,500,000
- Eagle Plains will act as operator, preserving technical and strategic control of Iron Range
- Iron Range is fully permitted under a Multi‑Year Area Based permit covering drilling and other exploration work
Negative
- None.
News Market Reaction – EGPLF
On the day this news was published, EGPLF gained 5.62%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
CRANBROOK, BC / ACCESS Newswire / June 16, 2026 / Eagle Plains Resources Ltd. (TSXV:EPL)(OTCQB:EGPLF) ("EPL" or "Eagle Plains") is pleased to announce that partner Earthwise Minerals Corp. (CSE:WISE)(FSE:966)(OTCQB:EWISF) ("Earthwise" or "WISE") has completed the diamond drilling program at Eagle Plains'
The 20,021 ha Iron Range Project is considered by management of both Eagle Plains and Earthwise to hold excellent potential for the presence of structurally controlled gold-silver mineralization, iron-oxide copper-gold ("IOCG") and Sullivan-style lead-zinc-silver sedimentary-exhalative ("sedex") mineralization. The property is owned
The 2026 drill program was designed to infill historical mineralized intercepts and assess continuity of mineralization along trend at the Talon Zone structure, where 2010 drilling by Eagle Plains intersected 2 intervals of strong and continuous mineralization including 14.0m grading 5.1g/t gold,
See Iron Range Drill Plan Map here
Hole ID | Easting* | Northing* | Elev. (m) | Az. (°) | Incl. (°) | Length (m) |
IR26053 | 543397 | 5445640 | 1371 | 270 | -56 | 410 |
IR26054 | 543398 | 5445641 | 1371 | 295 | -61 | 383 |
IR26055 | 543216 | 5445651 | 1369 | 223 | -67 | 389 |
TOTAL | 1182 | |||||
*Collar locations projected in NAD83 UTM Zone 11N
DDH IR26053 was designed to cross-cut the Talon Zone structure, infilling historical holes IR11011 and IR11015 (125m spacing at target depth). The hole was collared in the middle Aldridge Formation, intercepting the regionally significant lower-middle Aldridge Formation Contact (LMC) at approximately 120m depth. The Talon Zone structure, intercepted between 280-396m, is defined by strong silica-feldspar alteration associated with dense, chaotic quartz-feldspar-ankerite veins. Polymetallic mineralization (pyrrhotite-pyrite-sphalerite-galena-arsenopyrite-sulfosalts) was noted throughout the structural zone within veins, as fracture infill and forming localized breccia cement.
DDH IR26054 was designed to cross-cut the Talon Zone structure, infilling between historical holes IR10010 and IR11011 (60m drill spacing at target depth). The hole was collared in Middle Aldridge stratigraphy, intersecting the LMC at approximately 53m. The Talon Zone Structure, intercepted between 258-345m, is defined by strong silica-feldspar alteration associated with chaotic quartz-feldspar-ankerite veins. Polymetallic mineralization (pyrrhotite-pyrite-sphalerite-galena-arsenopyrite-sulfosalts) was noted throughout the structural zone as veins, fracture infill and localized breccia cement.
DDH IR26055 was designed to overcut IR11015, assessing continuity of the mineralized structural trend to the southwest, an area that is historically underexplored. The hole successfully intercepted an upper and lower mineralized horizon first defined in DDH IR11015. The hole was collared in the upper mineralized horizon (15-80m), where polymetallic mineralization (pyrrhotite-pyrite-sphalerite-galena-arsenopyrite-sulfosalts) is associated with intense oxidization of sulphides and strong silica and feldspar alteration of the Middle Aldridge sediments. The main (lower) Talon Zone mineralized horizon was intercepted between 241-380m, a 40m step-out from IR11015. The zone is defined by moderate silica alteration of Lower Aldridge sediments associated with dense, chaotic quartz-feldspar-ankerite veining. Polymetallic mineralization (pyrrhotite-pyrite-sphalerite-galena-arsenopyrite-sulfosalts) is dominantly hosted within the veins and as fracture infill.
Samples have been submitted to ALS Global (North Vancouver) for Fire Assay (Au) and full multi-element characterization.
Chuck Downie, President and CEO of Eagle Plains commented "We are excited to return to exploration drilling at the Iron Range. The known, structurally controlled, Talon Zone mineralization correlates with multi element geochemical anomalies and strong IP resistivity and chargeability signatures, with similar features in the area remaining untested by drilling."
See Iron Range Property Information and Map here
Iron Range Project Summary
The 20,021ha Iron Range Project located near Creston, BC, is owned
The Iron Range property covers an extensive area approximately 10km x 32km which overlies the regional Iron Range Fault System ("IRFS"). Prior to the acquisition by Eagle Plains in 2001, the property had seen little systematic exploration for other than iron resources known to exist on the property since the late 1800s. Since 2001, Eagle Plains and its partners have completed 21,593m of diamond-drilling in 87 holes, collected 2482 line-km of airborne and surface geophysical data and analysed 10,053 soil geochemical samples, 495 rock samples and 6955 drill core samples.
Drilling at Iron Range in 2010 resulted in the discovery of the Talon Zone, where drill-hole IR10-010 intersected 2 intervals of strong and continuous mineralization including 14.0m grading 5.1g/t gold,
Mineralization at the Pyromorphite Zone (BC MinFile 082FSE141) was discovered in 2009 after construction of logging roads exposed sheared and brecciated sediments hosting cm-scale quartz veins bearing pyromorphite (lead) mineralization. No significant work has been completed at the zone since its initial discovery by the previous tenure holder. Rock (grab) sample SK10-207 reports 27.0 g/t Au, 173.0 g/t Ag, and
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.
Iron Range Option Agreement Details
To exercise the Option, Earthwise 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
If the First Option or the Second Option is exercised, a
Eagle Plains will serve as Operator under the terms of Option and will reserve the right to use TerraLogic Exploration Inc. as geoscience consultant. Following the exercise of either Option 1 or 2, Earthwise and Eagle Plains shall then form a 70/30 or 80/20 joint venture ("JV") to further explore and develop the Property.
Qualified Persons
Charles C. Downie, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and an officer and 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 fourth-oldest listed issuer on the TSX-V (and the only one of these four 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
On October 2, 2024, Eagle Plains announced 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 2010-2025 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 of Eagle Plains
"C.C. (Chuck) Downie, P.Geo"
President and CEO
For further information on EPL, please contact Andrew Wilson at 1 866 HUNT ORE (486 8673)
Email: abw@eagleplains.com or visit our website at https://www.eagleplains.com
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.
View the original press release on ACCESS Newswire