Eagle Plains Resources Ltd. and partner Xcite Uranium Inc. have reported multiple intervals of anomalous radioactivity from drilling at the Don Lake uranium project near Uranium City, Saskatchewan. The reported measurements came from the B Zone and C Zone targets, while geochemical assays for drill-core samples remain pending.
#Results from the B and C Zones
The 2026 programme comprised 1106m across 10 holes and was designed to investigate structurally controlled uranium mineralization identified through historical exploration and recent field programmes.
Reported intervals from the B and C Zone drilling included:
- DN26005: 1.3m averaging 2898 cps
- DN26006: 5.5m averaging 2656cps
- DN26008: 0.7m averaging 10403 cps
- DN26009: 0.6m averaging 12473 cps
The company said the anomalous radioactivity was generally linked to gabbroic gneiss showing strong silica-feldspar, hematite and chlorite alteration. The reported measurements represent total gamma readings in counts per second and are an indication of uranium content, but may not correspond directly with chemical assay results.
#Earlier 2026 drilling at the A Zone
The first three holes drilled during 2026 in the A Zone area also encountered several radioactive intervals. The reported measurements were:
- DN26001: 1.9m averaging 11571 cps
- DN26002: 1.1m averaging 11753 cps
- DN26003: 1.2m averaging 2700 cps
Radioactive anomaly intervals are defined in the release as readings greater than 3 times average background counts, together with geological characteristics associated with Beaverlodge-type or basement-hosted Athabasca unconformity-type uranium deposits. The measurements must also indicate uranium as the dominant source.
#Project setting and exploration programme
Historical trenching and 37 shallow drill holes have outlined anomalous uranium mineralization across approximately 525m of strike in the A, B and C Zone area. The 2026 work is targeting shallow, structurally controlled mineralization west of the Black Bay Fault and north of the Townsend Fault, within the Don and Midas target areas.
At the Don target, drilling is testing for extensions beneath the A, B and C Zone trenches. Work at the Midas zone is aimed at investigating the source of 2026 uranium geochemical anomalies and a strong radiometric anomaly identified during a 2026 survey.
All reported depths and intervals are downhole measurements, and true thicknesses have not yet been determined. Geochemical assays of the drill core are pending.
#Don Lake ownership and option terms
In December 2023, Eagle Plains granted Xcite the exclusive right to earn up to an 80% interest in the Don Lake, Gulch, Lorado, Beaver River, Black Bay and Smitty projects. The six projects cover 54 Saskatchewan Mineral Deposit Index occurrences and five past-producing uranium mines, and are 100% owned by Eagle Plains.
For each project, Xcite may earn an 80% interest by completing CDN$3,200,000 in exploration expenditures, issuing 750,000 common shares and making cash payments of CDN$55,000 to Eagle Plains over four years. Across the six agreements, the stated aggregate obligations are CDN$19,200,000 in exploration expenditures, 4,500,000 shares and $330,000 in cash to Eagle Plains.
The release does not state that the earn-in requirements have been completed. If Xcite fulfils the terms of any or all of the agreements, an 80/20 joint venture will be formed. Eagle Plains would retain a carried interest in all expenditures until Xcite or its assigns delivers a bankable feasibility study.
During the option earn-in period, Xcite is to be appointed operator, while Eagle Plains is to manage exploration programmes under the direction of a joint technical committee. Eagle Plains will also retain an underlying 2% NSR royalty on each property. Further terms apply to the agreements.
#Exploration budget and information limitations
The approved 2026 Don Lake budget is approximately $1.1 million, comprising $200,000 for fieldwork, which the company said was completed, and $900,000 allocated to drilling. TerraLogic Exploration Inc. manages the work, while Apex Drilling was contracted for the 2026 drilling with crews based in Uranium City.
The company cautioned that historical exploration results were collected and reported by previous operators and have not been verified or confirmed by a Qualified Person. It also stated that earlier results or discoveries on nearby land are not necessarily indicative of results that may be achieved on the Don Lake property.
Rock grab samples are selective by nature and may not represent mineralization across the property. The company further cautioned that gamma measurements from drill core indicate uranium content but may not correlate with chemical assays. Technical information in the release was reviewed and approved by C.C. Downie, P.Geo., a director and officer of Eagle Plains and the stated Qualified Person under N.I. 43-101.
#Key Takeaways
- Drilling at Don Lake’s B and C Zones intersected multiple intervals of anomalous radioactivity.
- The reported B and C Zone intervals included DN26009, with 0.6m averaging 12473 cps, and DN26008, with 0.7m averaging 10403 cps.
- Three earlier 2026 holes at the A Zone also returned anomalous radioactivity.
- All intervals are reported downhole, true thicknesses have not been determined, and geochemical assays remain pending.
- Xcite’s proposed earn-in remains subject to its stated exploration, share issuance and cash payment obligations; completion of those obligations is not stated.
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