Eagle Plains Resources (EPL.V) has recently increased the size of its Vulcan drill program. It has already completed about 2,600 meters of drilling and the total size has now been increased to about 4,000 meters of diamond drilling in at least five holes. This means an additional two holes will be drilled as the 2,600 meters completed to date were drilled in three new holes while VU22004 (a drill hole from the 2022 campaign) was extended).
According to Eagle Plains, a recently completed hole VU23003 was drilled to a total depth of almost 825 meters and that hole encountered a thicker interval of sand and pebble conglomerate (which was encountered over a 360 meter length from about 321 meters down-hole). The preliminary interpretation of the geological team is that a favourable sub-basin development is occurring to the West-Northwest. Additionally, the hole intersected 4 centimeter (cm) wide mineralized beds which correlates with the footwall mineralization encountered in 2022 and which has been intersected in all holes completed in 2023 so far.
To ensure the cash position remains comfortable, Eagle Plains has closed a C$890,000 flow-through placement priced at C$0.20 per unit with each unit consisting of one flow-through share and ½ warrant with an exercise price of C$0.30 Per full warrant. The warrants will expire in two years.
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