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A pogee Minerals Ltd. (" Apogee " or the " Company " or the "Optionee") (TSXV: APMI) has completed a field program with Eagle Plains Resources ("EPL" or "Eagle Plains") at the Pine Channel Property, located approximately 40km km west of Stoney Rapids, Saskatchewan. Apogee holds an option to acquire an 80% interest in the Property, subject to a 2% NSR held by Eagle Royalties which contains a 1% buy-back clause to Eagle Plains. The current program was comprised of prospecting and geological mapping, and was managed by TerraLogic Exploration Inc. of Cranbrook, BC.
Pine Channel Project Map:
https://www.apogeemineralsltd.com/_resources/images/pine-channel-project-map-figure-1.jpg
Pine Channel Property Highlights:
Highlights from documented historical work and previously reported results include:
- Algold Bay: 63.5 g/t Au over 0.6 m (drill hole) (SMDI 1575)
- North Norite Bay: 407.96 g/t Au over 0.5 m (drill hole) (SMDI 2183)
- ELA: 39.96 g/t Au over 0.55 m (drill hole) (SMDI 1574)
- Holes G-1 and G-3: 3.20 g/t Au over 1 m (drill hole) (SMDI 2329)
- Occurrence No. 6/Occurrence No. 8: 90.6 g/t Au over 0.2 m (trench sample) (SMDI 1581)
- Cole Lake Ni-Cu: 0.45% Ni over 7.0 m (drill hole), 6.2 g/t Au, 0.01% Ni and 0.06% Cu over 3.0 m (trench sample) (SMDI 1583)
- Multiple untested geophysical anomalies and mineralized trends associated with favourable geology
Some of the above results were summarized from Saskatchewan Mineral Deposit Index ("SMDI") descriptions and assessment reports filed with the Saskatchewan government. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person, but form a basis for ongoing work in the Pine Channel property area.
2025 Field Program:
The 2025 field program focused on the Algold Bay Showing area and evaluating structural trends identified by analyses of high-resolution aeromagnetic data collected in 2022 and 2024 as well as high resolution LiDAR and orthophoto data collected in 2022. A total of 64 rock samples were collected over 6 days and analytical results are pending.
Pine Channel Gold Project Summary:
The Pine Channel Property consists of 29 mineral dispositions covering 6,519 hectares located approximately 40 km west of Stony Rapids, Saskatchewan which is the logistics/business hub for northern Saskatchewan. The property can be accessed year-round by float- or ski-equipped aircraft from Stony Rapids or Fort McMurray, AB. The eastern and northern part of the property is transected by a high voltage powerline. Most geological fieldwork is limited to late May to October but other operations such as geophysical surveys and diamond drilling can be completed year-round.
The main deposit type that is being explored for at Pine Channel is structurally controlled vein-quartz (lode) gold deposits. Mineral occurrences on the Pine Channel Property contain predominantly gold, with rare base metal occurrences. Within the Pine Channel tenures there are twenty documented historical showings.
Government mapping in the Pine Channel area dates from 1913, with the first industry work reported in 1950. A total of 51 assessment reports have been filed within the current Pine Channel tenure area. Past operators include Golden Rule Resources Ltd. and Colchis Resources Ltd. who were both active on the project during the 1980's, the last sustained period of exploration in the area. The most recent work prior to Eagle Plains acquiring the claims in 2018 was in 2013 when the area was flown with an airborne Variable Time Domain Electromagnetic ("VTEM") survey focused on locating targets for diamond exploration. There has been a total of 6,066 metres of diamond drilling in 115 historic holes completed within the current Pine Channel property claim boundaries, with the majority of the holes completed less than 100 metres in length. Although the wide-spaced drilling did intersect significant gold mineralization in places, much of the drilling was completed using thin diameter core which is considered ineffective for assessing the high-grade "nuggety" gold shears and veins found at Pine Channel.
Since acquiring the property, Eagle Plains has completed field programs focused on prospecting and mapping in areas of known mineral occurrences. The work confirmed the widespread occurrences of auriferous quartz veins and associated shear systems in the Pine Channel property. Analytical results from the seventy-two rock samples collected in 2020 range from 6 ppb Au to 68,400 ppb Au. Twenty-three of the samples returned greater than 1 g/t Au, and eight returned greater than 10 g/t Au. The most encouraging of the known showings are the ELA Shaft showing (SMDI 1574) and Occurrence No. 6 and No. 8 (SMDI 1581), which both demonstrate anomalous gold geochemical results and potential for extension of known mineralization along strike.
2022 and 2024 work included a helicopter-borne high-resolution aeromagnetic and radiometric survey and ahigh resolution LiDAR and orthophoto survey. Lineation analyses of the LiDAR imaging, combined with the aeromagnetic data, defined a number of new target areas adjacent to and along strike from known mineralization, which will be priority targets for future exploration.
Pine Channel Option Agreement Details:
In May 2021, Apogee entered into an option agreement (the Pine Channel Agreement) with Eagle Plains. The agreement, as amended, gives Apogee the exclusive right to earn an 80% interest in the Pine Channel Property, by completing CAD $3,000,000 in exploration expenditures, issuing 2,200,000 voting class common shares to Eagle Plains and making $150,000 in cash payments over a 5-year period. Under the terms of the agreement Eagle Plains is designated as the Operator of the projects. The original terms of the option agreement have been amended a number of times in order to extend original expiry dates.
Eagle Royalties Ltd. holds a 2% NSR on the majority of claims comprising the Pine Channel Property, with Eagle Plains holding the right to buy-back a 1% royalty interest for $CDN 1,000,000, while an arms-length party holds an underlying 2% royalty on specific dispositions comprising the Pine Channel property, with Eagle Plains holding the right to buy-back a 1% royalty interest for $CDN 1,000,000.
Qualified Person:
Technical information in this News Release has been reviewed and approved by C.C. Downie, P.Geo., a director and officer of Eagle Plains, hereby identified as the "Qualified Person" under N.I. 43-101.
About Apogee Minerals Ltd.:
Apogee Minerals Ltd. is a mineral exploration company. Our goal is to build shareholder value through mineral project acquisitions and advancement, as well as new mineral discoveries.
To find out more about Apogee Minerals Ltd. (TSX-V: APMI) visit the Company's website:
www.apogeemineralsltd.com
"Tim Fernback"
Tim Fernback
Interim CEO and Director
For further information, please contact:
Apogee Minerals Ltd.
Nicholas Coltura, Director
Email: ncoltura@sentinelmarket.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statements Regarding Forward-Looking Information
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedarplus.ca for further information.
Holly Iervella
