# Elton Resources Corp. (TSXV:DBAY) > Elton Resources Corp. ## About Elton Resources Corp. is a private exploration company focused on the natural resources sector. The Company’s principal focus is to explore and advance the Darnley Bay Project located near the town of Paulatuk in the Northwest Territories. ## Key facts - **Shares outstanding:** 70,000,000 - **Options:** 2,000,000 - **Mineral resource:** The most comprehensive description of the geology of the region, as well as the mineral potential, is provided by a GSC report authored by Jefferson et al (1994), which added to earlier analysis of Jones at al (1992). In particular, the 1994 report suggested that the Darnley Bay anomaly is a result of a deeply buried Ni-Cu-PGE magmatic sulphide deposit similar to the Noril’sk deposit in Russia. The Darnley Bay anomaly was assigned a moderate-to-high rating for hosting Ni-Cu-PGE resources, the highest rating that the Geological Survey of Canada can assign in a Mineral and Energy Resource Assessment without outcrop or drillhole data. The GSC suggest that the source of the Darnley Bay anomaly is likely from the Mackenzie Igneous Event (~1270 Ma), and not from the Franklin Igneous Event (723-718 Ma) as originally thought. - **Projects:** ["Location: Situated in proximity to the hamlet of Paulatuk on the mainland, approximately 387 km east of Inuvik along the Arctic coast, the project is positioned within the Inuvialuit Settlement Region (“ISR”). The ISR, established in 1984 through the Inuvialuit Final Agreement by the Government of Canada, is dedicated to the Inuvialuit people. Highlights include: - Current population of Paulatuk is 375 people (2022). - Inuvialuit and NWT jurisdictions are mining-friendly - Natural seaport served by commercial barge. - The Project area is directly accessible by commercial and charter air, barges and ocean carriers. - 1,220 m commercial airport can accommodate a wide range of aircraft, including a Hercules transport plane.","2018 Magnetotelluric Survey: A Magnetotelluric (“MT”) survey was completed in 2018 by Quantec Geoscience Limited. A summary of the survey results can be seen below: - A total of 116 MT, deep searching geophysical soundings, were collected on the Darnley Bay property, over a 40 x 50 km area, blanketing the Darnley Bay geophysical anomaly. - Analysis of the MT data has indicated four large Target Areas. - All four Target Areas contain MT anomalies that overlap with strong gravity and magnetic anomalies. - MT anomaly locations ranging from 800-1200 meters in depth to the top of the source. - Each of the MT anomaly targets are larger than one square kilometer and is marked by a significant decrease in resistivity.","Exploration Drill Program: The company will commence its proposed 5,000m exploration drill program which will consist of up to four drill holes. Our strategy is to drill one hole in each of the four Exploration Areas which were highlighted from the 2018 MT survey.","P5 Drill Target: - Magnetic and gravity peak coincide with MT anomaly which represent our Priority Target. - Drill hole P5 will test the Priority Target in the Rueben Lake area. - MT image highlights the various basin layers and deep magnetic sources located under the basement.","P8 & P2 Drill Target: - Magnetic and gravity peak coincide with MT anomalies which represent our Priority Targets. - Drill holes P8 & P2 will test both Priority Targets in the Central and Hornaday River area. - MT image highlights the various basin layers and deep magnetic sources located under the basement."] - **Leadership:** Management Carson Phillips, M.Eng. Chief Executive Officer Carson Phillips is an executive with over fifteen years of experience in the mining sector. He was also an initial founder and director of Ecuador Gold & Copper Corp. (TSX.V: EGX) which was subsequently acquired by Lumina Gold Corp. (TSX.V: LUM) in 2016. Carson has a degree in Business Administration from the University of British Columbia (Okanagan) as well as a degree in International Business from Hogeschool Zeeland in the Netherlands. Mr. Phillips has also completed a Master of Engineering in Mine Economics & Finance from the University of British Columbia in 2014. Kia Russell Chief Financial Officer & Corporate Secretary Ms. Russell has a background in corporate finance spanning over 12 years and has served as an Officer and a Director of multiple TSX-V companies in the resource sector. She has experience in corporate governance and regulatory compliance. Advisors Kevin Stevens, P.Geo. Geophysicist Mr. Stevens, a seasoned geoscientist with over 25 years of experience, has played a key role in discovering 14 mineral deposits in various regions, including the Sudbury Igneous Complex and NW Ontario. He co-founded Transition Metals Corp. in 2010, a publicly traded exploration company, and its parent company HTX Minerals Corp. in 2007. Additionally, he operates Stevens Geophysics Inc. since 2007, providing geophysical interpretation services. Mr. Stevens holds a BSc. in Geology and an MSc. in Geophysics, and is a member of Professional Geoscientists Ontario (PGO) and the Association of Professional Geoscientists of Nova Scotia (APGNS). He has held senior exploration positions in both senior and junior mining companies and received awards for significant discoveries in 2004 and 2014. Alan King, B.Sc., M.Sc. Geophysicist Alan received a B.Sc. in geology from the University of Toronto in 1976 and an M.Sc. in geophysics from Macquarie University in 1989. From 1976 to 1990 he worked as a geophysicist in exploration and resource development in Canada and Australasia. From 1990 to 2012 he was employed by Inco / Vale as a senior geophysicist and then as Manager of Geophysics with responsibility for global exploration. As Chief Geophysicist for Vale Global Exploration Alan worked on geophysical applications for base metals, iron, manganese, coal and fertilizers (potash and phosphate) as well as target generation using regional and global data sets. Alan has spent the last 10 years as an independent consultant to the industry through his company, Geoscience North Ltd. Board of Directors Carson Phillips, M.Eng. Chief Executive Officer & Director Founder and Chief Executive Officer of Elton Resources. See Management above for full biography. Michael Galego Director Mr. Galego is an executive, lawyer and corporate director with extensive M&A and corporate finance experience. Mr. Galego is currently CEO of Apolo Capital Advisory Corp. and sits on the board of directors of several public and private companies. Mr. Galego has been the co-founder of several businesses, including Allied Critical Metals, ICC Labs, Terrace Global and several other TSXV listed companies. Mr. Galego was named to Lexpert's Top 40 Under 40 and is a member of the Institute of Corporate Directors and the TSXV Ontario Local Advisory Committee. Jasvir Kaloti Director Ms. Kaloti has an extensive background in corporate finance spanning over 15 years and has served as an officer and director of multiple public companies primarily focused in the resource sector. She has also been responsible for coordinating equity financings, private placements, debt financings and reverse takeover transactions. Ms. Kaloti is a graduate of Simon Fraser University where she received a bachelor of business administration. Frederic Leigh Jr. Director Mr. Leigh is the principal of a private British Columbia company providing fundraising, investor relations and advisory services. He has over 10 years of experience with companies in the mining and technology sectors worldwide, acting in an investor relations and advisory role for a number of publicly listed companies. _Verified data last updated: 2026-10-05_ ## Live AI chat - https://chat.orbiton.app/eltonresourcescorp/chat - Investor website: https://eltonresources.com/