CRANBROOK, BC / ACCESSWIRE / October 1, 2024 / Eagle Royalties Ltd. ("ER":CSE) reports that operator Eagle Plains Resources Ltd. ("EPL":TSX-V, or "Eagle Plains") has recently issued news confirming that 2024 fieldwork has been completed at Eagle Plains' 100% owned Adamant property (the "Property"), located 80 km NE of Revelstoke, British Columbia. The 10,080ha property is host to Rare Earth Element ("REE") mineralization in syenite, carbonatite and pegmatite dyke systems that are numerous and widespread over approximately 25 km of strike length. Eagle Royalties holds a 2% NSR on the claims comprising the Property, with Eagle Plains holding the right to buy back to 1% for consideration of $CDN 1,000,000. Eagle Plains acquired the Adamant property by staking in 2021 and 2022. The project is currently permitted for advanced exploration including drilling.
See Adamant Project Summary Map here
2024 Fieldwork
Eagle Plains, through contractor TerraLogic Exploration Ltd, completed fieldwork earlier this summer with a focus on defining and extending the known syenite and pegmatite dyke swarms and evaluating additional targets generated by Eagle Plains during its 2022 work program and through compilation of historic work. The 2024 field program was completed in early September and generated 23 rock samples and 2 stream-silt samples as well as scintillometer survey traverses.
2024 work included prospecting in the Kin Far West Zone where receding glaciers have exposed new outcrop upstream from a series of historic stream silt anomalies which returned up to 4,136 ppm Total Rare Earth Elements (TREE*). Within the northern Amy-Carmen Trend, infill prospecting and mapping was completed to follow-up strongly anomalous 2022 rock samples which returned up to 43,300 ppm TREE (5.07%) Total Rare Earth Oxides ("TREO**") and 25,700 ppm (2.57%) Nb. Detailed prospecting was completed at the Brad-North target to assess the possible presence of a mineralized trend parallel to the Amy-Carmen zone, indicated by historic anomalous 2011 stream-silt anomalies which returned up to 4,638 ppm TREE.
Analytical results from the 2024 fieldwork are pending and will be released once they have been received, compiled and interpreted.
*TREE (total rare earth elements sum) is inclusive of La, Ce, Pr, Nd, Sm, Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, Lu.
**TREO (total rare earth element oxides: sum of REE2O3)
See Complete Eagle Plains News Release here
Jarrod Brown, P.Geo., a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has prepared, reviewed, and approved the scientific and technical disclosure in the news release.
About Eagle Royalties Ltd.
Eagle Royalties benefits from maintaining a strong treasury (currently in excess of CDN $3.5M) and holds a diverse portfolio of 38 royalty interests in western Canada. Target commodities subject to royalties include a broad spectrum including critical metals, precious metals, industrial minerals and diamonds. Its flagship royalty is associated with the AurMac project located in Yukon, operated by Banyan Gold Corp. ER holds royalty interests ranging from 0.5% to 2% on claims that contain a significant portion of AurMac's 7.0M ounce gold inferred resource located at the Powerline and Airstrip deposit areas. Eagle Royalties also holds royalty interests on a number of historical base metal deposits located in Western Canada.
Eagle Royalties was previously a wholly-owned subsidiary of Eagle Plains Resources Ltd. ("EPL":TSX-V), incorporated in late 2022 to manage the diverse royalty holdings of EPL. In May 2023, ER listed on the CSE after being spun out to Eagle Plains' shareholders on a 1:3 basis by means of a plan of arrangement.
On behalf of the Board of Directors
"Tim J. Termuende"
President and CEO
For further information on ER, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: [email protected] or visit our website at https://www.eagleroyalties.com/
Cautionary Note Regarding Forward-Looking Statements
Neither the CSE nor any other regulatory body has reviewed or approved the contents of this news release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming financings, 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.
SOURCE: Eagle Royalties Ltd.