Eagle Plains and Earthwise Report Successful Drilling at Iron Range Project

#Overview of the Iron Range Project

Eagle Plains Resources Ltd. has announced that its partner, Earthwise Minerals Corp., has successfully completed a diamond drilling program at the Iron Range Precious Metals Project located in southeastern British Columbia. This project, which spans an area of 20,021 hectares, is considered to have significant potential for gold-silver and poly-metallic mineralization.

#Significance of Recent Drilling Results

The recent drilling campaign was undertaken to assess the continuity of previously identified mineralized zones along the Talon Zone structure. Historically, drilling has indicated noteworthy intervals of mineralization, with previous results revealing strong grades of gold, lead, zinc, and silver.

Data from the current drilling program indicate that all holes intercepted mineralization. The Talon Zone remains a priority focus for exploration, given its promising potential for further significant findings.

#Details on the Drilling Program

The diamond drilling program was managed by Terralogic Exploration Inc., while QB Drilling conducted the drilling. The focus of this year's program was to infill historical hotspots and explore areas of the Talon Zone that had previously gone underexplored.

Notable intersections were achieved, revealing polymetallic mineralization characterized by quartz-feldspar-ankerite veining and various mineral compositions. Samples from these drill holes are currently being analyzed at ALS Global in North Vancouver.

#Partnership and Future Steps

Earthwise Minerals holds an option to acquire up to an 80% stake in the Iron Range Project through a phased approach, involving cash payments and funding of exploration expenditures. The strategic collaboration between Eagle Plains and Earthwise enhances their capacity to explore and develop the project further, leveraging combined expertise.

#Operational Infrastructure

The Iron Range Project benefits from its location near established transportation and power infrastructure, including high-voltage hydroelectric lines and gas pipelines. This accessibility may facilitate future development and operations, enhancing the project's overall viability.

#Conclusion

The successful completion of the diamond drilling program at the Iron Range Project positions Eagle Plains and Earthwise Minerals to build on the encouraging results and work towards the continued exploration and potential development of this promising site.

#Key Takeaways

Earthwise Minerals completed a diamond drilling program at Eagle Plains' Iron Range Project in British Columbia, detecting mineralization in all drill holes.
The project covers 20,021 hectares and is recognized for its potential gold-silver mineralization.
The current drilling aimed to confirm historical mineralization and assess continuity along the Talon Zone structure.
Earthwise has the option to acquire up to an 80% interest in the project through a structured investment plan.
The project is supported by accessible infrastructure, enhancing its development prospects.

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Frequently Asked Questions

Eagle Plains Resources announced that its partner, Earthwise Minerals Corp., has completed a diamond drilling programme at the Iron Range Project in British Columbia. Notably, all drill holes intercepted mineralization, suggesting the area's potential for gold-silver, IOCG, and sedimentary-exhalative mineralization.

Previous drilling at the Talon Zone structure has revealed significant intersections, such as 14.0m grading 5.1g/t gold and 7.1m grading 8.13g/t gold. These results highlight the area's solid mineralisation potential and emphasis on further exploration.

Spanning 20,021 hectares, the Iron Range Project is strategically situated near infrastructure, including a high-pressure gas pipeline and hydro-electric lines. This access not only reduces operational costs but also enhances the project's viability for future development.

To acquire an 80% interest, Earthwise must complete specific cash payments, share issuances, and exploration expenditures over a phased period. This structured approach ensures that exploration activities are well-funded and strategically planned.

The recent drilling successfully intersected mineralized horizons, suggesting the continuity of mineralisation along the Talon Zone structure. This continuity reinforces the potential for substantial resource discoveries in the region.

Eagle Plains has a proven track record of enhancing shareholder value through strategic project generation and partnerships. The company's commitment to advancing its diverse portfolio of critical and precious metals projects underlines its focus on sustainable growth and profitability.

The Iron Range Project is fully permitted under a Multi-Year Area Based permit issued by the BC Ministry, which facilitates comprehensive exploration activities like geophysical work and diamond drilling. This regulatory support underscores the project's compliance and readiness for continued development.

The joint venture allows for shared expertise and resources between Eagle Plains and Earthwise, accelerating exploration efforts at Iron Range. This collaboration is expected to leverage both companies' strengths, driving more effective exploration outcomes.