Eagle Plains Resources (EPL.V) has received the initial results from a 108 line kilometer drone survey on the Dictator gold project, where the company is earning in towards full ownership from a private vendor. Those results indicate a north-south oriented structure which coincides with the discovery of mineralized boulders in 2020, and seeing the structures pop up on the airborne survey are strengthening the believe in the property. Eagle Plains has now expanded the land package towards the north and will also expand the airborne survey.
Eagle Plains is currently earning a 100% interest in the Dictator property by spending C$150,000 on exploration expenditures, issuing 250,000 shares to the vendor as well as making C$70,000 in cash payments. Additionally, the vendor will be issued a 1% NSR which can be repurchased by Eagle Plains for C$1M. Located not too far from Vernon B.C., the property has been historically explored for lode gold in quartz veins and was in production in the early 1900’s because of these vein systems. Earlier this year, the optionor found a field of mineralized boulders in another area of the property and Eagle Plains is doing the geophysical survey along with a soil sampling program (partially completed in 2020) in order to try to locate the in-situ portion of these boulders.
The previous summer program included grab samples from the Morning workings (which is an area of the Dictator property that has been in production in the past – on a very limited basis) with values of up to 39 g/t gold while another sample returned an interesting polymetallic blend of minerals with 1.31 g/t gold, 205 g/t silver, 1.88% lead, 5.03% zinc and some Cadmium.
Milo Mielniczuk, the principal of Aurum Vena (the vendor of the property) was recently interviewed by CBC Radio. Eagle Plains has uploaded the interview on YouTube and you can listen to it HERE.
Disclosure: The author has a long position in Eagle Plains. Eagle Plains is not a sponsor of the website, but Spinco Taiga Gold is. Please read our disclaimer.