Business
Eagle Plains/Partner Announce 2023 Field Program to Commence at the Surprise and Toodoggone Lithium Projects, BC
CRANBROOK, BC / ACCESSWIRE / August 14, 2023 / Eagle Plains Resources (TSX-V:EPL), ("EPL") has b...
About this update from Eagle Plains Resources Ltd.
[{"type":"text","content":"Eagle Plains/Partner Announce 2023 Field Program to Commence at the Surprise and Toodoggone Lithium Projects, BCCRANBROOK, BC / ACCESSWIRE / August 14, 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 projects will focus on locating and assessing pegmatites for lithium potential using geological mapping, mineral identification and geochemistry.SurpriseThe 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...