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Exchange: TSX
Venture
Market Cap:
30.7 Million
Outstanding Shares:
42.7 Million
52 Low / High : $
0.51 / $ 0.96
Price October 26, 2005
$ 0.72
EPL Recent Stock
Quote and News:
Click Here
Information As
Of October 26, 2005 |
'Controls over 30
gold and base-metal projects, many of which are currently
optioned to or joint-ventured with third parties including
NovaGold Inc., Amarc Resources Ltd. (Hunter-Dickinson Group),
Northern Continental Resources Inc., Blind Creek Resources
Ltd. and Golden Cariboo Resources Inc.'
Overview
Eagle Plains Resources Ltd. is a junior
exploration company aggressively exploring for minerals in
British Columbia, the Yukon and the Northwest Territories. The
company's focus has been to identify and secure early-stage
exploration opportunities in gold, silver and base metals,
then attract joint-venture participation to leverage their
development
Investment Highlights
- Eagle Plains holds interests in over 30 gold, silver,
copper, lead, zinc and molybdenum properties. Seven of
these are currently under joint venture or option,
exposing Eagle Plains to over $16.5 million in mineral
exploration over the next 5 years.
- Option or joint-venture partners include NovaGold
Resources Inc., Amarc Resources Ltd. (Hunter-Dickinson
Group), Northern Continental Resources Inc., Blind Creek
Resources Ltd. and Golden Cariboo Resources Inc.
- Eagle Plains recently announced a “plan of
arrangement” to spin-off, on a one for one basis, their
Copper Canyon property which holds an Inferred Resource of
1.16 billion pounds of copper, 37.9 million ounces of
silver and 2.86 million ounces of gold.
- EPL is a prolific news generator with an ambitious and
diverse exploration program, is debt free with over $4
million in cash and current investments.
- Collectively Eagle Plains’ Copper Canyon, Blende and
Abo properties have a metals in-ground value of
approximately $4.5 billion.
PropertiesCopper Canyon
Property
Eagle Plains Copper Canyon property is optioned to
NovaGold Resources and is part of their Galore Creek
project, one of the largest gold-silver-copper systems in
North America. The latest reports from NovaGold, which
combines Inferred, Indicated and Measured Resources for both
Copper Canyon and Galore Creek, total 13.75 million ounces
of gold, 156.4 million ounces of silver and 12 billion
pounds of copper.
In January 2005, NovaGold announced results on EPL’s
Copper Canyon property, outlining an Inferred Resource
estimate of 2.86 million ounces of gold, 37.9 million ounces
of silver and 1.16 billion pounds of copper. Using metal
prices of US$410/oz gold; $6.40/oz silver; $1.35/lb copper,
the Inferred Resource from 21 drill holes represents an
estimated contained metal in-ground value of US$2.9 billion,
with the deposit open in all directions. . NovaGold is
earning-in on a 60% interest, by completing $3 million in
exploration over the next three years, issuing 296,000
shares and making cash payments of $250,000. NovaGold can
increase their interest to 80% by paying $1 million and
completing a feasibility study by 2011. Eagle Plains does
not have to advance any funds to retain its 20% through to
production.
Eagle Plains recently announced a spin-off of its Copper
Canyon, Abo and Severance properties, whereby each
shareholder of EPL would receive one share of the newly
formed Copper Canyon Resources on a one for one basis. The
reorganization is designed to improve the valuation of these
properties, simplifies ownership and enables EPL to
separately finance and develop its other assets, selectively
reducing stock dilution.
We wonder at what point NovaGold may make an offer to EPL
for its interest in Copper Canyon. The mineralization at
Copper Canyon has higher gold values and begins at surface,
whereas the principal Galore Creek deposit will require
substantially more development work to remove the
overburden. NovaGold has announced a five-year exploration
strategy that it intends to execute concurrent with the
feasibility, permitting and construction of the mine. A case
could be made to take EPL out of the equation as early as
possible in the projects development. Any such move could be
an early “win-win” for EPL shareholders.
Sphinx Property - Molybdenum
Eagle Plains may have another winner in their 100%
interest Sphinx molybdenum property located in Southern B.C.
They recently announced completion of a Phase 1 drilling
program that included 14 holes and 10,921’ (3,330m) of
drilling in an area measuring approximately 400 x 1000m.
Most holes intersected significant molybdenum mineralization
open to depth and along strike in one direction. Analytical
results include 47m grading .10% Mo (.167% MoS2). Surface
work continues on the property with a Phase 2 drilling
planned during the remainder of this year. The large,
road-accessible land package is currently serviced by
hydro-electric power and includes land suitable for mine
infrastructure and tailings areas.
Coyote Creek Property - Gypsum
Eagle Plains has just completed a 10 hole drilling
program on their 100% interest gypsum property, where
showings are exposed over widths of 25-30 meters and
vertical heights of up to 60 metres, containing gypsum in
excess of 87% purity and estimated in historical reports “to
have a combined potential of 6 million tonnes of gypsum”.
Eagle plains management anticipates improving markets for
wallboard in light of recent natural disasters in the U.S.
the gypsum potential of the property has never been
systematically evaluated. Hydro-electric power and rail
transportation are located 15 km by road from property
boundaries.
Kalum and Elsiar (LCR) Properties
Eagle Plains Kalum gold project consists of over 30 high
grade gold-silver vein occurrences covering an area
approximately 10 kilometres by 12 kilometres located
northwest of Terrace, near the central coast of British
Columbia. Eagle Plains has sole ownership of the claims,
representing the first time the mineral showings have been
consolidated by a single owner. In 2003, EPL completed a
significant exploration program that defined numerous new,
high grade zones of gold-silver mineralization. In 2004, the
company completed a 19 hole drill program which confirmed
the widespread existence of high grade gold systems. In
2005, a 1000 metre 4 hole program was completed targeting
high grade mineralization discovered in the Hat showing
area. Drilling has also been completed on the nearby LCR
project, owned 100% by Eagle Plains and financed by option
partner Northern Continental Resources. To date,
approximately 2,500 metres (8,100’) of drilling has been
completed in 20 holes. Results from both programs are
expected later this fall.
Other Significant Land Positions
In the East Kootenay region of BC, Eagle Plains holds a
significant land position with 100% interest in numerous
mineral properties with Sullivan-type lead zinc base metal
potential. Programs carried out by Eagle Plains and its
partners since 1997 have resulted in over $2,500,000 in
exploration and 24,000 feet of diamond drilling. During
2005, field crews will be on the Ice River, Greenland Creek
and Hot Punch properties completing geological mapping and
soil sampling prior to confirming drill targets for 2006.
In the Yukon, Eagle Plains holds the McQuesten gold
claims, a 30/70 joint venture with Alexco Resources, the
Sprogge bulk-tonnage gold prospect, and the Fire and Ice,
base-metal properties. Eagle Plains is also active within
the Yukon's Tintina Gold Belt where it holds a 100% interest
in 4 intrusive-related gold properties. This summer, one of
several Eagle Plains field crews, has been active mapping,
re-logging and resource modeling on EPL’s Blende
silver-zinc-lead deposit which holds an Inferred Resource of
at least 35 million ounces of silver, 1.3 billion pounds of
zinc and 1.2 billion pounds of lead. This effort resulted in
a recently announced joint venture to Blind Creek Resources
Ltd.
In the Northwest Territories, Eagle Plains is conducting a
joint exploration program with Geological Survey Canada and
the NWT government. A group of prominent geological experts
systematically assessed the economic and exploration
potential of more than 65 known base metal showings that
have recently been consolidated under prospecting permits by
EPL. The analytical phase of this program is now underway.
With a diverse portfolio of advanced projects underway,
Eagle Plains has exposure to numerous and varied
opportunities to enhance shareholder value. Eagle Plains has
demonstrated a proven ability to research, acquire, explore
and partner, properties of merit; generating income and
dynamic growth opportunities.
Management Team
Tim J. Termuende, P.Geo.- President and
Chief Executive Officer
Tim Termuende is a professional geologist with
over 25 years experience in the mineral exploration industry.
He is currently the President and Chief Executive Officer of
Eagle Plains Resources Ltd. Tim was one of the founders of the
company, and has been actively involved since its inception in
1992. Since earning his degree in Geological Sciences at the
University of British Columbia in 1987, Tim has worked on
exploration projects throughout North, Central, and South
America, and has inspected mineral deposits in the former
Soviet Union. Tim has been continuously active in mineral
exploration throughout western Canada since 1976, and
currently oversees a broad range of ongoing exploration
projects located throughout British Columbia and the Yukon
Territory.
Glen J. Diduck, CA-Director, Chief
Financial Officer
Mr. Glen J Diduck B.Comm. C.A. is a self
employed Chartered Accountant involved in public practice
since 1979. His practice has included accounting, auditing and
taxation in the mining sector, auditing of public companies
and advising on corporate governance. Glen has been a director
of the company since October 1,1996.
Charles C. Downie,P.Geo.- Director,
Exploration Manager
Charles C. (Chuck ) Downie has over 20 years
experience in mineral exploration and mining. He is a graduate
of The University of Alberta (B.Sc 1988). Mr. Downie worked
for Cominco Ltd. both pre and post graduation where he was
involved with grassroots exploration, property evaluation,
mine development and mine production at various exploration
projects throughout Western Canada including Pine Point,
Polaris, Snip and Sullivan. After leaving Cominco in 1993, Mr.
Downie worked as a geological consultant throughout North,
Central, and South America with a wide range of projects
including copper gold porphyry, shear hosted gold, sedimentary
exhalitive, and Volcanogenic Massive Sulphide. Mr. Downie has
been associated with Eagle Plains Resources since 1993 and
brings extensive project management experience related to
property evaluation. Mr. Downie is a member in good standing
of the Association of Professional Engineers and Geoscientists
of British Columbia and has been the Exploration Manager for
Eagle Plains Resources since 1999.
Contacts
Eagle Plains Resources Ltd.
Suite 200, 16 – 11th Ave. S.
Cranbrook, BC VIC 2P1
Ph: (250) 426-0749
Fax: (250) 426-6899
Investor Relations:
Mike Labach
Toll Free:1-866-Hunt Ore (486-8673)
Andy Schwab
A. Schwab & Associates
Toll Free: 1-800-537-4099
SEDAR Filings
EPL filings with SEDAR can be found
here. All
Fillings are current and the Company is fully reporting.
FORWARD LOOKING
STATEMENTS
This report includes forward-looking
statements that reflect Eagle Plains Resources Ltd. current
expectations about its future results, performance, prospects
and opportunities. Eagle Plains Resources Ltd. has tried to
identify these forward-looking statements by using words and
phrases such as "may," "will," "expects," "anticipates,"
"believes," "intends," "estimates," "plan," "should,"
"typical," "preliminary," "we are confident" or similar
expressions. These forward-looking statements are based on
information currently available and are subject to a number of
risks, uncertainties and other factors that could cause Eagle
Plains Resources Ltd.'s actual results, performance, prospects
or opportunities to differ materially from those expressed in,
or implied by, these forward-looking statements. These risks,
uncertainties and other factors include, without limitation,
the Company's growth expectations and ongoing funding
requirements, and specifically, the Company's growth prospects
with scalable customers, and those outlined above. Other risks
include the Company's limited operating history, the Company's
history of operating losses, consumers' acceptance, the
Company's use of licensed technologies, risk of increased
competition, the potential need for additional financing, the
terms and conditions of any financing that is consummated, the
limited trading market for the Company's securities, the
possible volatility of the Company's stock price, the
concentration of ownership, and the potential fluctuation in
the Company's operating results.
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