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Eagle Royalties Provides Update on Mount Polley West Copper-Gold Project
CRANBROOK, BC / ACCESSWIRE / June 25, 2024 / Eagle Royalties Ltd. ("ER":CSE, or "Eagle Royaltie...
About this update from Eagle Plains Resources Ltd.
[{"type":"text","content":"Eagle Royalties Provides Update on Mount Polley West Copper-Gold ProjectCRANBROOK, BC / ACCESSWIRE / June 25, 2024 / Eagle Royalties Ltd. (\"ER\":CSE, or \"Eagle Royalties\") has been notified by Eagle Plains Resources Ltd. (\"EPL\":TSXV) that crews have been mobilized to EPL's 100% owned Mount Polley West Project (\"MPW\") located in central British Columbia. Eagle Royalties holds a 2% net smelter royalty (\"NSR\") on certain claims totalling 5246 ha at MPW. EPL may buy back 1% of the NSR upon payment to ER of $1M.See MPW Royalty/Tenure Map hereSee Eagle Plains' MPW Project Webpage hereAbout Mount Polley WestThe MPW project is located 52km northeast of Williams Lake, British Columbia and targets copper and gold porphyry-style mineralization within the prolific Central Quesnel Belt. The project area is adjacent to a number of current, past-producing and development stage mines including:Imperial Metals' Mount Polley Cu-Au porphyry (8km east of MPW)- current producerTaseko Mines' Gibralter Cu-Mo porphyry (30km west of MPW)- current producerOsisko Development's QR Au porphyry/skarn (3.5km north of MPW)- past producer / milling facilityOsisko Development's Cariboo Gold Project (51 km north of MPW)- developmentDue to the proximity to the Mount Polley Mine Complex and extensive forestry activity in the area, the project has excellent infrastructure including the paved Likely Road and a high voltage powerline 5 km south of the property boundary. There are also a number of active gold placer mining operations established on drainages in the MPW property area. Eagle Royalties' management cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the MPW property.Property Geology and HistoryThe MPW property is underlain by Nicola Group sedimentary and volcanic rocks. The tenures cover ten BC Minfile occurrences consisting of copper bearing minerals hosted in basaltic and volcanic rocks.In response to the discovery of the Mount Polley deposit in 1964, exploration work increased in the region as other copper porphyry deposits were sought out. In the mid-1960's, a host of companies conducted a series of geophysical surveys and soil sampling programs. After a period of relative quiescence, exploration work increased in intensity in the early 1980's. A number of operators ...