Xcite Uranium Commences 1300m Drill Program at Eagle Plains’ Black Bay Project
Xcite Uranium has begun a 1300m, 6-hole diamond drilling program at Eagle Plains Resources’ Black Bay Project in Saskatchewan and has added a second drill rig.
Eagle Plains Resources Ltd. said partner Xcite Uranium Inc. has started a diamond drilling program at the Black Bay Project in Saskatchewan. The planned work covers 1300m across 6 holes, while a second drill rig has been secured to support the planned exploration programs.
Black Bay is located 20km south of Uranium City and is 100% owned by Eagle Plains. The 1114ha property contains 7 Saskatchewan Mineral Deposit Index occurrences, including the past-producing Black Bay Uranium Mine.
The 2026 program will use 6 holes from 5 different pad locations. Drilling is intended to examine both structurally controlled Beaverlodge-type uranium mineralization and basement-hosted unconformity-style mineralization.
The targets include 2025 VTEM conductors along the trend extending from the Black Bay Mine, particularly where the conductors run parallel to or intersect magnetic high-low contacts interpreted as possible mineralizing structures.
The additional rig is under contract to Base Diamond Drilling, with crews based out of Uranium City.
Eagle Plains said the approved 2026 budget for Black Bay is approximately $1.1 million. The allocation includes $125,000 for fieldwork, which has been completed, and $975,000 for drilling. TerraLogic Exploration Inc. manages the work.
Field activities included prospecting, rock and soil geochemical sampling, structural mapping and scintillometer surveying. The program collected 32 rock samples. Geophysical work included 4 km 2 of drone lidar surveying, while Condor Consulting was engaged to interpret and model 745 line-km of VTEM Plus data collected by Geotech in 2025 together with historical geophysical information.
Samples collected from three historical trenches during the 2026 field program returned up to 1.17% U3O8, 4033 ppm U3O8 and 450.5 ppm U3O8. A mineralized float sample from the historic Brunston Zone returned 7.37% U3O8.
Historical work cited by Eagle Plains includes trench samples of 6.51% U3O8, 3.78% U3O8 and 3.62% U3O8. Samples from historical drill core at the Blue Grass ‘B’ Zone included 9.64% U3O8 and 16.74% U3O8, while a historical drill result included 0.66% U3O8 over 0.3m.
The company also reported that 2024 grab sampling of dump material from the Black Bay mine returned up to 3.61% U3O8. These results include historical and selective samples and do not establish the grade or continuity of mineralization across the property.
In December 2023, Eagle Plains granted Xcite the exclusive right to earn up to an 80% interest in the Black Bay, Beaver River, Don Lake, Gulch, Lorado and Smitty projects.
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 projects, the stated aggregate requirements are CDN$19,200,000 in exploration expenditures, 4,500,000 shares and $330,000 in cash to Eagle Plains.
Upon Xcite fulfilling the terms of any or all of the earn-in agreements, an 80/20 joint venture will be formed. Eagle Plains will retain a carried interest in all expenditures until Xcite or its assigns delivers a bankable feasibility study. Eagle Plains will also retain an underlying 2% NSR royalty on each property.
During the option earn-in period, Xcite will be appointed operator, while Eagle Plains will manage exploration programs under the direction of a joint technical committee. Further terms apply to the option agreements.
Eagle Plains said historical results were collected and reported by previous operators and have not been verified or confirmed by a Qualified Person. The company said the information forms a basis for ongoing work, but past results or discoveries on nearby land are not necessarily indicative of results that may be achieved on the Black Bay properties.
The company also cautioned that rock grab samples are selective by nature and may not represent mineralization across the property. Technical information in the announcement was reviewed and approved by C.C. Downie, P.Geo., a director and officer of Eagle Plains identified as the Qualified Person under N.I. 43-101.
Statements concerning the timing and content of future work, geological interpretations and potential mineral recovery processes involve risks and uncertainties, and actual results may differ materially from those anticipated.
Xcite Uranium has commenced a 1300m, 6-hole diamond drilling program at Eagle Plains’ Black Bay Project.
The property is located 20km south of Uranium City and includes the past-producing Black Bay Uranium Mine.
A second drill rig has been contracted to support the planned exploration programs.
The approved 2026 Black Bay budget is approximately $1.1 million, including $975,000 allocated for drilling.
Xcite may earn an 80% interest in six Eagle Plains projects subject to exploration, share issuance and cash payment requirements; an 80/20 joint venture would form if the relevant earn-in terms are fulfilled.
Eagle Plains Resources Ltd. announced that partner Xcite Uranium Inc. has commenced a diamond drilling programme at Eagle Plains' 100% owned Black Bay Project in Saskatchewan. The planned programme comprises 1300m of drilling across 6 holes and will test uranium mineralisation identified through historical work and the 2025-2026 field programmes.
Eagle Plains Resources Ltd. announced the drilling programme on October 5, 2026. The announcement covers drilling planned for the 2026 programme, following fieldwork completed in 2026 and earlier exploration results from 2025-2026.
Eagle Plains Resources Ltd.'s Black Bay Project is located 20km south of Uranium City, Saskatchewan. The 1114ha project overlies 7 Saskatchewan Mineral Deposit Index occurrences, including the past-producing Black Bay Uranium Mine.
Eagle Plains Resources Ltd. said the Black Bay programme will consist of 1300m of diamond drilling in 6 holes from 5 different pad locations. The drilling will test for structurally controlled Beaverlodge-type mineralisation and basement-hosted unconformity-style mineralisation.
Eagle Plains Resources Ltd. said Xcite Uranium Inc. has procured a second drill rig to facilitate timely completion of the planned drilling programmes. The additional rig is under contract to Base Diamond Drilling, with crews based out of Uranium City.
Eagle Plains Resources Ltd. said the drilling will target 2025 VTEM conductors along trend from the Black Bay Mine, particularly where they parallel or intersect magnetic high-low contacts interpreted as potential mineralising structures. The programme is intended to test both structurally controlled Beaverlodge-type and basement-hosted unconformity-style uranium mineralisation.
Eagle Plains Resources Ltd. said the approved 2026 budget for Black Bay is approximately $1.1 million. This consists of $125,000 in fieldwork, which the company said was completed, and $975,000 allocated for drilling.
Eagle Plains Resources Ltd. said its 2026 fieldwork included prospecting, rock and soil geochemical sampling, structural mapping and scintillometer surveying, with a total of 32 rock samples collected. Geophysical work included 4 km 2 of drone lidar surveying, while Condor Consulting was engaged to interpret and model 745 line-km of VTEM Plus data collected by Geotech in 2025 alongside historical geophysical data.
Eagle Plains Resources Ltd. said 2026 results from three separate trenches returned up to 1.17% U3O8, 4033 ppm U3O8 and 450.5 ppm U3O8, while a mineralised float sample from the historic Brunston Zone returned 7.37% U3O8. The company also reported historical trench, drill-core and drill results, including 6.51% U3O8, 3.78% U3O8, 3.62% U3O8, 9.64% U3O8, 16.74% U3O8 and 0.66% U3O8 over 0.3m.
Eagle Plains Resources Ltd. cautioned that historical results were collected and reported by past operators and have not been verified or confirmed by a Qualified Person, although they form a basis for ongoing work. Management also said past results or discoveries on nearby land are not necessarily indicative of results that may be achieved on the subject properties, and noted that rock grab samples are selective and not necessarily representative of mineralisation across the property.
Eagle Plains Resources Ltd. said Xcite Uranium may earn an 80% interest in each of the Beaver River, Black Bay, Don Lake, Gulch, Lorado and Smitty projects by completing CDN$3,200,000 in exploration expenditures, issuing 750,000 common shares of Xcite and making cash payments of CDN$55,000 to Eagle Plains over four years. The aggregate terms across the six projects are CDN$19,200,000 in exploration expenditures, 4,500,000 shares and $330,000 in cash to Eagle Plains; upon fulfilment of the terms of any or all of the earn-in agreements, an 80/20 joint venture will be formed, with Eagle Plains retaining a carried interest until delivery of a bankable feasibility study and an underlying 2% NSR royalty on each property.
Eagle Plains Resources Ltd. is based in Cranbrook, B.C., and focuses on acquiring, exploring and advancing critical- and precious-metal exploration properties through collaborative partnerships. The company identifies its shares as trading on the TSX Venture Exchange under TSXV:EPL and on the OTCQB under OTCQB:EGPLF.
Management of Eagle Plains Resources Ltd. and Xcite said they are encouraged by the tenor of mineralisation displayed in trenches and historical drilling at Black Bay and believe there is significant potential for additional uranium mineralisation to be discovered along strike and at depth within known mineralised areas. The company also cautioned that forward-looking statements involve inherent risks and uncertainties and that actual results may differ materially from those anticipated.