Eagle Plains Res Stock Price, News & Analysis

Eagle Plains Resources Ltd. has announced significant developments, including an upcoming spin-out of Eagle Royalties, expected to be finalized by late April 2023. The Company reported substantial cash reserves over $11 million and consistent revenue exceeding $1 million annually from its wholly-owned subsidiary, TerraLogic. Recent mineralization at the Vulcan property shows promising drill results, with a planned aggressive drilling program commencing in mid-June 2023. Additionally, Eagle Plains is actively pursuing lithium-related acquisitions, enhancing its exploration portfolio in British Columbia and Saskatchewan.

Eagle Plains Resources Ltd. has announced the successful acquisition of two properties in British Columbia and four in Saskatchewan, totaling 19,503 hectares. These areas are deemed prospective for lithium mineralization, specifically targeting spodumene deposits based on favorable geochemical data and geological mapping. This acquisition follows extensive research and is owned 100% by Eagle Plains, potentially subject to royalties from Eagle Royalties Ltd., its subsidiary. The company also plans to explore existing lithium prospective properties and advance other critical metal projects during the 2023 field season.

Eagle Plains Resources Ltd. (TSXV:EPL) has announced that SKRR Exploration Inc. (TSXV:SKRR) has fulfilled the earn-in requirements to acquire a 75% interest in the Olson Project and a 100% interest in the Cathro Project. The Olson Project spans 11,219 hectares and is known for orogenic gold mineralization, with historical drill results showing 2.07 g/t Au and grab samples up to 105.52 g/t Au. The Cathro Project covers 3,277 hectares and also hosts known gold occurrences. Eagle Plains will retain a 2% NSR on the Cathro property, enhancing its strategic position in the region.

Eagle Plains Resources Ltd. (TSXV:EPL) has entered into an option agreement with Canter Resources Corp. (CSE:CRC) regarding the Puzzle Lake project in Saskatchewan. Canter can earn a 60% interest by investing $3 million in exploration, paying $250,000 in cash, and issuing 1 million shares over four years. A 2% NSR is reserved for Eagle Plains, reducible to 1% for $1 million. The project area is underexplored, showing promising geological similarities to nearby gold-hosting systems. Canter has opted not to proceed with the Schott Lake property, informing Eagle Plains accordingly.

Eagle Plains Resources Ltd. (TSXV:EPL) has announced positive results from its 2022 drilling program at the Vulcan critical metals project. The program included three holes totaling 1,700 meters, with drill hole VU22004 revealing significant sulphide mineralization over large intervals. Notable findings include 11.55m @ 0.46% Zn and a strong conductivity anomaly detected through BHEM surveying. The presence of primary bedded sulphides suggests proximity to a mineralizing vent, indicating the potential for further exploration. Eagle Plains maintains 100% ownership of Vulcan and aims to continue drilling in 2023 as they reassess historical data to guide future efforts.

Eagle Plains Resources has granted incentive stock options for 2,487,000 shares at an exercise price of $0.24, expiring on January 6, 2028, subject to approvals. The company, established in 1992, has consistently delivered value to shareholders, transferring over $100 million through various spin-outs. Recently, a separate division, Eagle Royalties Ltd., was formed to manage the company's royalty assets, covering multiple commodities. Notably, expenditures from 2011-2022 exceeded $30 million, mainly funded by third parties, facilitating significant exploration advancements.

Eagle Plains Resources Ltd. has entered a non-binding letter of intent with 1386884 BC Ltd. to spin out its royalty interests into a new subsidiary, Eagle Royalties Ltd. This transaction involves transferring royalties in exchange for 42 million Spin-out Shares, with 36.5 million distributed to former shareholders. 138 plans to raise approximately $3 million through private placements and amalgamate with Eagle Royalties. The public listing on the Canadian Securities Exchange is anticipated post-transaction closure, expected by Q2 2023.

Eagle Plains Resources has received promising results from its Kalum Property in British Columbia, where gold values were confirmed through a 2022 field program conducted by partner Rex Resources. Soil and rock sampling yielded significant assay results, with rock samples returning as high as 12.55 g/t Au. The fieldwork aimed to identify future drilling targets, collecting a total of 67 rock and 277 soil samples. Rex holds an option to earn a 60% interest in the property by fulfilling specified financial commitments. The project showcases potential for high-grade gold deposits.

Eagle Plains Resources has reported final results from its Fall 2022 drilling program at the Vulcan Project, located 30km from the Sullivan deposit in BC. The three-hole, 1,700m drilling campaign successfully intersected the Lower-Middle Aldridge Formation contact in all holes, with significant findings in hole VU22004, suggesting proximity to a lead-zinc mineralized feeder system. Results showed notable mineralization including 4.77m at 0.14% Zn and 0.21% Pb. Management is optimistic about further exploration in 2023, despite the overall sub-economic nature of the results.