Apogee Completes Field Program at the Pine Channel Property
MWN-AI** Summary
Apogee Minerals Ltd. has successfully completed a field program at the Pine Channel Property, situated about 40 kilometers west of Stoney Rapids, Saskatchewan. The program, carried out in collaboration with Eagle Plains Resources, involved extensive prospecting and geological mapping, managed by TerraLogic Exploration Inc. Apogee holds an option to acquire an 80% interest in this promising property, which also features a 2% net smelter return (NSR) held by Eagle Royalties.
The Pine Channel Property is notable for its historical high gold grades, with significant drill hole results including 63.5 g/t Au and 407.96 g/t Au, indicating substantial potential for gold mineralization. The latest field program focused on the Algold Bay Showing area and assessed structural trends identified through previous detailed aeromagnetic data and LiDAR surveys. Over six days, 64 rock samples were collected, with analytical results pending.
Key geological features of the Pine Channel include 29 mineral dispositions spanning 6,519 hectares, primarily targeting structurally controlled vein-quartz lode gold deposits. Historical exploration in the area dates back to the 1950s, and extensive previous drilling has hinted at significant gold potential, despite some limitations in methodology.
In May 2021, Apogee secured an option agreement with Eagle Plains, allowing for an investment of CAD 3 million in exploration over five years. Following numerous historical explorations and technical analysis, the Pine Channel Property is now viewed as a high-priority exploration target, with the potential for substantial gold and base metal occurrences in the future. Apogee aims to build shareholder value through continued exploration and development of this exciting mineral resource.
MWN-AI** Analysis
Apogee Minerals Ltd. (TSXV: APMI) has made significant strides with the completion of its field program at the Pine Channel Property, which holds promising gold prospects. The recent activity, overseen by Eagle Plains Resources, underscores Apogee's commitment to advancing its exploration efforts in Northern Saskatchewan—a region known for its substantial mineral deposits.
The Pine Channel Property features historical drill results that are particularly noteworthy, with impressive gold grades recorded at Algold Bay (63.5 g/t Au over 0.6 m) and North Norite Bay (407.96 g/t Au over 0.5 m). Despite concerns over the unverified nature of historical results, they provide a strong basis for ongoing exploration and signify the potential for substantial gold finds.
Looking ahead, the current phase focusing on the Algold Bay area and integrating advanced geophysical data from prior surveys may enhance the likelihood of discovering new gold deposits. Of particular interest is the collection of 64 rock samples, with results pending; positive findings could drive investor sentiment and enhance the company's valuation.
Apogee's option agreement with Eagle Plains outlines a structured path to acquiring an 80% interest in Pine Channel, necessitating CAD $3 million in exploration expenditures over a five-year period. This systematic funding approach could position the company favorably for future financing if results from the property validate its potential.
Given the increasing global focus on gold amid economic uncertainties, Apogee could benefit from heightened market interest. Investors should monitor the upcoming analytical results closely, as they will be critical in determining future stock movement and operational strategy. Compounding indications of high-grade mineralization may present valuable entry points for those looking to invest in Apogee Minerals Ltd., contingent upon concrete outcomes from their exploration activities.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Vancouver, BC, Oct. 14, 2025 (GLOBE NEWSWIRE) -- 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 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 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
Apogee Minerals Ltd.
“Tim Fernback”
Tim Fernback
Interim CEO and Director
For further information, please contact:
Apogee Minerals Ltd.
Nicholas Coltura, Director
Email: [email protected]
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
FAQ**
How do the recent exploration results from the Pine Channel Property, particularly those reported by Apogee Minerals Ltd. APMI:CC, influence your outlook on the potential gold yield in comparison to historical findings?
Given the terms of the option agreement with Eagle Plains, how does Apogee Minerals Ltd. APMI:CC plan to finance the required CAD $3 million exploration expenditures within the next few years while maintaining shareholder value?
What strategies is Apogee Minerals Ltd. APMI:CC implementing to effectively manage the risks associated with exploration drilling in the Pine Channel Property, considering the historical drilling methods used in previous assessment reports?
How does the potential for high-grade gold mineralization in the Pine Channel Property impact your investment strategy regarding Apogee Minerals Ltd. APMI:CC, particularly in light of the recent geological mapping and sampling results?
**MWN-AI FAQ is based on asking OpenAI questions about Apogee Minerals Ltd. (TSXVC: APMI:CC).
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