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Eagle Plains/Riverstick Resources Execute Option Agreement on Dictator Gold Property, South-central, BC; Director's Resignation
CRANBROOK, BC / ACCESSWIRE / June 9, 2022 / Eagle Plains Resources (TSXV:EPL), ("EPL") and ...
About this update from Eagle Plains Resources Ltd.
[{"type":"text","content":"Eagle Plains/Riverstick Resources Execute Option Agreement on Dictator Gold Property, South-central, BC; Director's ResignationCRANBROOK, BC / ACCESSWIRE / June 9, 2022 / Eagle Plains Resources (TSXV:EPL), (\"EPL\") and Riverstick Resources Corp. (a private B.C. company), (\"Riverstick\") announce that the companies have entered into a formal option agreement whereby Riverstick may earn an undivided 60% interest in the Dictator Property (the \"Property\"). EPL holds the exclusive right to obtain a 100% interest in the Property, located approximately 70 km east of Vernon, BC. Under terms of the agreement, Riverstick can earn it's 60% interest by completing exploration expenditures of $1,500,000, making cash payments of $500,000 and issuing 1,000,000 common shares to EPL over a five-year period. Eagle Plains holds an underlying option on the Property as described below.See Dictator Property Map hereThe Dictator Property is road-accessible and located within rocks of the prolific Quesnellia Terrane, host to many major B.C. porphyry deposits such as Highland Valley, Gibraltar, Mount Polley, Mount Milligan, Copper Mountain and others. Despite the rich endowment of mineralization in these rocks, the Dictator area has seen relatively little exploration activity by industry or government. Management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the Dictator Property.See Dictator Regional Projects Map hereThe Property consists of 6 tenures comprising 2578 ha overlying Jurassic-aged porphyritic intrusive rocks that are host to parallel gold-bearing veins that have seen limited past production at the Dictator and Morning occurrences. During a property inspection carried out by Eagle Plains personnel in Summer, 2020, grab samples from the Morning workings ranged from trace values to a high of 39.4 g/t gold and 912 g/t silver (sample TTLPR016*) and 1.31 g/t gold, 205 g/t silver, 1.88% lead, 5.03% zinc and 0.12% cadmium (sample TTLPR015*).Prospecting in 2020 resulted in the discovery of numerous float boulders containing brecciated semi-massive sulphides that consistently contain highly elevated gold, lead and zinc mineralization with values ranging from trace quantities to a high of 5.84 g/t gold, 30.6 g/t Ag, 3680 ppm lead and 674 ppm zinc (sample TTLPR010*-...