Eagle Plains Enters into Agreement with Aben Resources on Two Yukon Properties and Northwest Territories Permits
02 2월 2011 - 8:06AM
Business Wire
Eagle Plains Resources Ltd. (EPL:TSX-V) and Aben
Resources Ltd. (TSX-V:ABN) (formerly Consolidated Abaddon
Resources Inc.) have entered into an Acquisition Agreement whereby
Aben will acquire a 100% interest in two non-contiguous mineral
exploration properties known as the Hit and Justin
(Sprogge) projects, covering approximately 2,130 hectares
located in the eastern Yukon Territory (the “Yukon Claims”).
Pursuant to the terms of the Acquisition Agreement, Aben
Resources has also acquired a proprietary database owned by Eagle
Plains and the right to certain potential prospecting permits in
the Mackenzie Mountain area of the Northwest Territories (the
“Permits”). The Permits are subject to an approval process and, if
approved, Aben will be granted the exclusive right to stake claims
in the Permit areas for up to a period of three years.
Upon receipt of acceptance of the Acquisition Agreement by the
TSX Venture Exchange, Aben Resources will issue a total of
5,000,000 common shares to Eagle Plains. Aben will also make a cash
payment of approximately $150,000 to reimburse Eagle Plains for the
Northwest Territories permitting costs. The approximately $150,000
will be paid upon receipt of confirmation that the Permits have
been granted and duly registered in the name of Aben Resources.
The Yukon Claims and any property to be acquired by staking in
the Permit areas shall be subject to a three percent (3%) net
smelter return royalty (“NSR”) in favour of Eagle Plains. Aben
Resources has been granted a right to purchase a 2% NSR at any time
prior to commencement of commercial production for the
consideration of $2,000,000 (the “Buy Down Option”).
The Justin (Sprogge) Gold Property
The Justin (Sprogge) gold property is located in east-central
Yukon Territory about 35 kilometres south of the recently re-opened
Cantung Mine. The property consists of 25 claims and is host to
numerous styles of intrusive and sediment-hosted gold
mineralization located within three main bulk-tonnage target areas.
The drill-ready property has the potential to host both high-grade
and bulk-tonnage gold mineralization. Historical grab samples from
the property reported up to 59.25 g/t Au, in addition to historical
chip samples returning an average of 2.38 g/t Au over 22.5 metres.
Numerous targets on the property remain to be tested with further
exploration planned, including trenching and diamond drilling.
The Hit Gold Property
The Hit gold property is located in central Yukon Territory, 27
kilometres north-northeast of MacMillan Pass. The project targets
skarn/replacement gold mineralization associated with
Tombstone-Suite intrusives and surrounding carbonate-rich
sediments. Property highlights include intrusive-related gold
mineralization which returned an average of 7.85 g/t Au over 7.0
metres in trenches.
The above transactions are subject to the acceptance of the TSX
Venture Exchange.
About Eagle Plains Resources
Eagle Plains continues to conduct research, acquire and explore
metal projects throughout western Canada. In addition to holding
mining royalties on various projects, Eagle Plains controls over 35
gold, base-metal and uranium projects, several with third parties
including Excelsior Mining Corp (TSX:MIN.P), Sandstorm Resources
Ltd. (TSX-V:SSL), Sandstorm Metals and Energy Ltd. (TSX-V:SND),
Providence Capital Corp., Waterloo Resources Ltd. (TSX-V:WAT.P),
Windstorm Resources Inc., 0802906BC Ltd. (a private B.C. company);
Heemskirk Canada Ltd., Touchdown Capital Inc. (TSX-V: TDW), Active
Growth Capital (TSX-V:ACK) and 99 Capital Corp.
(TSX-V:WDG). In recent years, Eagle Plains has completed option
agreements with Teck Limited (TSX:TCK.B), Alexco Resource Corp.
(TSX-V:AXR), Billiton Metals, Rio Algom Exploration, NovaGold
Resources, Kennecott Exploration and numerous other junior
exploration companies, resulting in over 57,100m (187,288’) of
drilling and over $31.5 million in exploration spending on its
projects since 1998.
Expenditures during 2010 on Eagle Plains’ projects were
approximately $3,240,000, funded by Eagle Plains and third party
partners. This work resulted in approximately 3,580m of drilling
and extensive ground-based exploration work and facilitated the
advancement of numerous projects at various stages of
development.
Signed,
“Tim J. Termuende”President and CEO
Cautionary Note Regarding Forward-Looking
Statements
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. This news release may
contain forward-looking statements including but not limited to
comments regarding the timing and content of upcoming work
programs, geological interpretations, receipt of property titles,
potential mineral recovery processes, etc. Forward-looking
statements address future events and conditions and therefore,
involve inherent risks and uncertainties. Actual results may differ
materially from those currently anticipated in such statements.
Eagle Plains Resources (PK) (USOTC:EGPLF)
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부터 3월(3) 2025 으로 4월(4) 2025
Eagle Plains Resources (PK) (USOTC:EGPLF)
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부터 4월(4) 2024 으로 4월(4) 2025
