LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Gets a Boost of Rocket Fuel From Negative Bond Yields
By: Frank Holmes, US Funds

The Gold (and Silver) Volcano Is Ready to Erupt
By: David H. Smith

Precious Metals Update Video: Where do you park money? Stock markets and hard assets
By: Ira Epstein

Recognition and Adjustment
By: Craig Hemke

After This Confirmation Gold Prices Will Rise Fast
By: Hubert Moolman

Will Silver Soon Follow Gold’s Lead?
By: Stefan Gleason

GoldSeek Radio: Dr. Chris Martenson & Bob Hoye
By: Chris Waltzek Ph.D., GoldSeek Radio

Gold’s Century
By: Michael J. Kosares, USA Gold

What Gets Measures Gets Improved
By: Keith Weiner, Monetary Metals

SWOT Analysis: Central Banks Continue to Show Their Love for Gold
By: Frank Holmes, US Funds

 
Search

GoldSeek Web

 
SSR Mining begins drilling at Eagle Plains (TSX-V: EPL) Fisher Gold Property

 -- Published: Thursday, 22 March 2018 | Print  | Disqus 

By: Nicholas LePan, GoldSeek.com

 

As Gold prices have stabilised, large operators are looking to grow their resources to support their processing operations and to maximize returns on capital expenditures by extending the life of the mine, this bodes well for junior miners that are well positioned near producing mines.

Eagle Plains Resources Ltd. (TSX-V: EPL) is one junior that holds a significant land package along the same geological trend that a major mining company is looking to expand upon.  This has prompted the Eagle Plains to spin-out these projects into new company called Taiga Gold Corp.  The spin-out is intended to reward Eagle Plains shareholders with a ˝ share of this new company while at the same time making these projects an M&A target.  

SSR Mining announced yesterday that it has begun its 2018 drilling program on Eagle Plain’s 100-per-cent owned Fisher property, located in east-central Saskatchewan. SSR Mining (“SSRM”) (formerly known as Silver Standard Resources) is planning approximately 18,000 metres (59,000 feet) of drilling for the property during 2018.  SSRM is in the second year of a four-year option agreement whereby SSRM may earn up to an 80-per-cent interest in the 34,000-hectare property by completing $4-million in exploration expenditures and making $3.3-million in cash payments to Eagle Plains. SSRM expenditures to date on the project are approximately $1.5-million. The Fisher project is contiguous to the north, south and east with SSRM's Seabee gold operation. 

SSRM made its intentions known to significantly expand the resources at its wholly-owned Seabee Gold Operation in its October 2017 Preliminary Economic Assessment.  The PEA outlined Measured and Indicated Mineral Resources of 540,000 ounces of gold at an average grade of 8.02 g/t. The company also outlined an Inferred Mineral Resources of 620,000 ounces of gold at a grade of 7.66 g/t.   SSRM is looking for more to provide feed to its mill.

The operation comprises two underground gold mines, the Santoy mine and the Seabee mine. The Santoy mine has been in continuous commercial production since 2014. Commercial production at the Seabee mine commenced in 1991. Ore from both mines is processed at the Seabee mill facility, which has been in operation since 1991 and has current processing capacity of over 900 tonnes per day.

The Seabee mill has the potential to achieve operating throughput of up to 1,200 tonnes per day based on upgraded mill facilities and operating experience at similar mills. This would further increase production from that contemplated under the PEA and potentially improve operating costs due to economies of scale and extend mine life.

http://www.goldseek.com/news/2018/3-21epl.png 

One of the main reasons for this option is that the Santoy shear zone extends right towards Eagle Plain’s Fisher property.    During 2017, SSRM conducted detailed exploration activity including geologic mapping, 571 grid till/soil samples, 276 till samples, and widespread prospecting and rock sampling activity. Fieldwork was followed up with UAV aeromagnetic survey.

Results were encouraging, with numerous areas of elevated gold in soils documented within Fisher property boundaries. SSRM geologists have traced the extension of the Santoy shear structure southward from the Santoy deposit (currently in production) over seven kilometres within Fisher property boundaries (see trace of Santoy Shear Zone on the attached map), noting visible gold mineralization in two areas.   SSR Mining has high hopes for the exploration potential that the Fisher property represents especially considering their $90 million mine upgrade/expansion next door at the Seabee Mine Operation.

Saskatchewan is a proven mining jurisdiction that hosts some of the most robust deposits in the world from uranium to gold and everything in between.  In an effort to attract exploration and development, the provincial government reduced royalties on mineral discoveries. In 2002, for example, the government brought in a ten-year royalty tax holiday for new gold and base metal mines. Until 150 per cent of initial exploration and development costs are recovered, there are no royalties payable.  This regime has led the province to be considered Canada’s top mining jurisdiction according to the annual global survey of mining executives released by the Fraser Institute.  

All this presents a compelling investment case for Eagle Plains Resources with exposure to a major exploration program on its Fisher Property, a proposal to spin-out a new company with properties located near SSRM and plans to drill its 100-per-cent owned Iron Range Property in late Q2 The company has decades of successful track record of returns for its investors being well-managed and financed with no debt. The company is generating revenue from their 100% owned Terralogic Exploration subsidiary along with its Prospector Generator model which includes an exciting joint venture with a billion-dollar mining company (SSR Mining) which is funding a large multimillion-dollar exploration program to earn into a project which is very lucrative to SSRM’s ongoing gold mining operations.

Eagle Plains offers investors a low-risk opportunity to participate in the upside of the Fisher Project along with their portfolio of over 30 projects in Western Canada.  The proposed spin-out of its Taiga Gold Corp.  will reward Eagle Plains shareholders on record as of the spin-out date, expected to be in mid-April, with ˝ a share of the new Taiga Gold Corp. and a  stake in a new company.  

Legal Notice / Disclaimer: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. GoldSeek.com, have based this document on information obtained from sources it believes to be reliable but which it has not independently verified; GoldSeek.com makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of GoldSeek.com only and are subject to change without notice. GoldSeek.com assume no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this Report.

Additional Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Authors have taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond our control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. The information presented in stock reports are not a specific buy or sell recommendation and is presented solely for informational purposes only. The author/publisher may or may not have a position in the securities and/or options relating thereto, & may make purchases and/or sales of these securities relating thereto from time to time in the open market or otherwise outside of the trading timeframe listed above. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. The companies mentioned herein may be sponsor of GoldSeek.com. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.

 


| Digg This Article
 -- Published: Thursday, 22 March 2018 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus







 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2019



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.