Eagle Plains/Partner Announce 2023 Field Program to Commence at the Surprise and Toodoggone Lithium Projects, BC
Eagle Plains/Partner Announce 2023 Field Program to
Commence at the Surprise and Toodoggone Lithium
Projects, BC
Cranbrook, B.C., August 14th, 2023: Eagle Plains Resources (TSX-V:EPL), (“EPL”) has
been notified by option partner 1416753 BC Ltd. (“ 141”), a subsidiary of
NevGold (“NevGold”), a BC corporation, that field crews have been mobilized to Eagle
Plains’ 100% owned Surprise and Toodoggone Lithium Projects. Under the terms of the
recently approved option agreement, 141 may earn a 100% interest in the Acacia, Lost Horse,
FinLith, Surprise and Toodoggone properties by completing $1,000,000 in exploration
expenditures over two years and issuing 10,000,000 141 shares. A 2% NSR on certain
properties has been reserved for Eagle Plains (see EPL news release Aug 2nd, 2023).
2023 fieldwork will be carried out by TerraLogic Exploration Services of Cranbrook BC , a
wholly owned subsidiary of Eagle Plains . The Surprise and Toodoggone projects are early
stage and were acquired based on their prospectivity for hosting Li bearing pegmatites.
Fieldwork on both pro jects will focus on locating and assessing pegmatites for lithium
potential using geological mapping, mineral identification and geochemistry.
Surprise
The 4491 ha Surprise Property is located approximately 40 kilometres east northeast of Atlin,
BC. The property is centred on a large Cretaceous intrusion surrounded by sedimentary rocks
of the Kedahda Formation. The Surprise Lake intrusion is crosscut by numerous aplite dykes
and coarse grained pegmatitic zones which are the focus of the current exploration program.
Regional government (“RGS”) silt sample results are highly anomalous with respect to Li,
Rb, Cs, Sn, Mo and W, with lithium values up to 118 ppm Li (the highest reported RGS value
in British Columbia is 130 ppm). There are two MinFile reports on the property : Weir
Mountain (104N017) reports tungsten and molybdenite mineralization in quartz veins; and
the Northeast or CY showings (104N074) reports mafic -rich dykes with sphalerite-galena-
magnetite in quartz veins cutting alaskite.
The favourable geologic setting, namely a granitic intrusion enriched in critical elements (W,
Sn, Mo), with demonstrated aplite -pegmatite dykes, coupled with very anomalous regional
geochemical lithium results, suggest that the property is highly prospective for rare-metal
enriched pegmatites.
Toodoggone
The 7153 ha Toodoggone property is located approximately 285 kilometres north of
Smithers, BC , centred on a regionally mapped Cretaceous -age intrusion surrounded by
sedimentary rocks of the Ingenika Group. The prominent Finlay -Ingenika strike-slip fault
system lies approximately 4 kilometres to the west. Although the Toodoggone Region is well
known for epithermal and porphyry deposits such as found at the Lawyers and Kemess
mines, little reported exploration work has been completed on the property. Several historic
stream silt samples collected through RGS surveys returned highly anomalous lithium results
from streams fed by drainage systems on the property. The favourable geologic setting, with
a granitic intrusion near a major fault system, coupled with highly anomalous RGS
geochemical lithium results suggest that the property is highly prospective for lithium
pegmatites.
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, has prepared,
reviewed, and approved the scientific and technical disclosure in the 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. The Company was formed in 1992 and is the ninth-oldest listed issuer on the TSX-V
(and one of only three 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 $100,000,000 in value directly to its shareholders, with Copper Canyon
Resources and Taiga Gold Corp. being notable examples. Eagle Plains latest spinout, Eagle
Royalties Ltd. (CSE:”ER”) was listed on May 24, 2023, and holds a diverse portfolio of
royalty assets throughout 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 pr ojects toward discovery through collaborative partnerships and
development of a highly experienced technical team.
Expenditures from 2011-2022 on Eagle Plains-related projects exceed $30M, the majority of
which was funded by third -party partners. This exploration work resulted in approximately
45,000m of diamond -drilling and extensive ground -based exploration work facilitating the
advancement of numerous projects at various stages of development.
Throughout the exploration process, our mission is to he lp 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
“C.C. (Chuck) Downie”
VP Exploration, Director
For further information on EPL, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: [email protected] or visit our website at http://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.