Copper Canyon Resources Ltd & Eagle Plains Resources Ltd
posted on
Mar 26, 2009 01:19PM
Galore Creek property contains one of the world’s largest undeveloped copper & gold resources.
Eagle Plains Resources Ltd.
Eagle Plains Resources entered this current downturn well positioned financially. Management, being committed to the concept that crisis creates opportunity, prospected to strengthen the company. On Feb 28, 2009 EPL signed a letter of intent to form a joint venture to produce gold at Atlin , British Columbia . For details and project goals of this arrangement, please see the news release at http://www.eagleplains.ca/09.02.28_j...
Eagle Plains is a mining and exploration company operating in Western Canada since 1992. During that period we have assembled an expert team of geologists and technicians and have acquired over 35 quality exploration projects in British Columbia , Saskatchewan , Yukon and the North West Territories . Our exploration targets are for gold, uranium, silver, molybdenum, copper, zinc, lead, and rare earth minerals. Two of these properties have NI 43-101 compliant inferred resources, the Blende and the Sphinx.
Our corporate model is to advance these projects towards production as efficiently as possible while minimizing EPL shareholder exposure to the risks of exploration. We do this by creating Joint Venture partnerships with other exploration/mining companies. In order to earn an interest in a project, an optioning company commits to conducting exploration programs, issues shares to EPL and makes a cash payment. Once we advance a property to the point of defining a resource and the potential for production has been identified, or model is to split it from Eagle Plains into a new company and make it available for acquisition to a company that can capitalize it for production.
An example of this spin-off strategy is our Copper Canyon Project. This successful exploration project was spun-off from EPL and formed the primary asset of a new company called Copper Canyon Resources Ltd. ( CPY :TSX-V). Shareholders of EPL received new shares of CPY on a one for one basis as well as retaining the original EPL share. This strategy has been hailed as a “flawless exercise in value creation” by Brien Lundin of The Gold Newsletter. Spinning off CPY makes it available, unencumbered, to the companies at the adjacent Galore Creek Project where a mine has been planned.
Please visit our website at www.eagleplains.com for a comprehensive look at our company. Some highlights of the site are virtual tours of the Kalum and Coyote Creek projects, Google Earth Tours of some of our projects, corporate and newsletter analyst reports, financial statements, news releases and video/radio interviews with Tim Termuende (President of EPL & CPY).
Eagle Plains Investment Highlights
Properties withInferred Resources
Blende - 38million oz silver and 2.48 billion lbs zinc/ lead - Inferred Resource of 19.6 million tonnes @ 56.0 g/t silver and 5.84% zinc/ lead
Sphinx - 43.4million lbs molybdenum - Inferred Resource of 62 million tonnes @ 0.035% molybdenum
Copper Canyon Resources Ltd.
Copper Canyon Resources Ltd.is a spin-off company from Eagle Plains Resources Ltd. In June 2006, Copper Canyon was formed with 3 previous Eagle Plains properties, the Abo, Severance and Copper Canyon. The result was the creation of a new share that was distributed to the Eagle Plains shareholders on a one for one basis.
The spin-off was designed to accomplish a simpler corporate structure in order to improve share value, and to unencumber the Copper Canyon property from the portfolio of EPL properties to make it more available to a producing company.
The Copper Canyon property is adjacent the NovaGold /Teck Cominco Galore Creek project where advanced permitting has taken place for the purposes of construction of a mine. Copper Canyon Resources and NovaGold Resources have agreed to form a 40/60 joint venture partnership on the Copper Canyon property.
Follow this link for more information regarding the objectives of the NovaGold/Teck Cominco development at the Galore Creek Project .
Please visit our website at www.copcanyon.com for a comprehensive look at our company. Some highlights of the site are virtual tours of the Copper Canyon and Abo projects, newsletter analyst reports, news releases and a video interview with Tim Termuende (President of EPL & CPY) .
Copper Canyon Investment Highlights
Properties with Resources
Abo - 220,000 oz gold - Indicated Resource of 1.845 million tonnes @ 2.79 g/t gold & Inferred Resource of 0.6 million tonnes @ 2.8 g/t gold
Copper Canyon - 2.86million oz gold, 37.9 million oz silver & 1.16 billion lbs copper - Inferred Resource of 164.8 million tonnes @ 0.54 g/t gold, 7.15 g/t silver and 0.35% copper (0.74% CuEq) at 0.35% CuEq cutoff.
Thanks again for your interest in Eagle Plains Resources & Copper Canyon Resources Ltd. Your contact information will be kept strictly confidential.
Should you have any questions, please do not hesitate to call me at the toll free number below.
Kind regards,
Mike Labach
Investor Relations
Eagle Plains Resources Ltd
Cranbrook , BC
1 866 HUNT ORE (486 8673)