Author

admin

Browsing

Quebec Innovative Materials Corp. (CSE: QIMC) (OTCQB: QIMCF) (FSE: 7FJ) (‘QIMC’ or the ‘Company’) today announced the completion of Discovery Hole DDH-26-01 to a depth of 711 metres at its West-Advocate hydrogen project in Nova Scotia. Drilling intersected a persistent hydrogen-bearing system beginning at approximately 505 metres, where visible gas was observed at the drill head and well water returned headspace hydrogen concentrations that exceeded the detection limits of the Company’s GA5000 gas analyser. Hydrogen concentrations remained elevated to the end of the hole, confirming that the system remains open at depth as drilling advances, with Hole 2 targeting structural zones to the north-west.

Borehole DDH-26-01 has returned hydrogen concentrations so elevated that the Company’s field instruments were pushed beyond their maximum detectable range on multiple separate depth intervals. These readings were obtained from wellhead water samples already subject to dilution factors of 100 to 10,000 times, according to independent analysis by Prof. Marc Richer-LaFlèche of the Institut National de la Recherche Scientifique (INRS), Québec. The surface headspace gas measurements, extraordinary in their own right, are a fraction of what the fractured geological formation is holding at depth.

This is not a trace detection. This is not background noise. This is a live, pressurised, hydrogen-generating system, confirmed by instrument, confirmed by water geochemistry, and confirmed visually in the field, whose true magnitude current surface instrumentation cannot fully characterise.

Why This Discovery at Depth Matters

Natural hydrogen, increasingly referred to as ‘gold hydrogen’ by the global energy community, is one of the most transformative emerging resource categories of this decade. It is carbon-free, generated naturally within the Earth’s crust, and requires no energy-intensive manufacturing process. The global race to identify and develop commercially viable natural hydrogen deposits is intensifying rapidly. QIMC’s West-Advocate results, independently validated by one of Canada’s foremost geochemical institutions, position the Company as one of the most scientifically rigorous natural hydrogen exploration programmes in North America.

Hole 2 Drilling Underway

Hole 2 of the West-Advocate 2026 drilling program is currently underway and is targeting structural zones similar to those observed in DDH-26-01 borehole and identified from geophysical and soil-gas hydrogen and radon geochemistry. The hole is oriented to the northwest in order to approach the contact zone between a gravity and magnetic high interpreted as an uplift of the bedrock sub-basement and the carboniferous sedimentary rock basin. Gas monitoring, well water sampling and core logging remain active as drilling progresses.

Sampling Methodology

Water sampling was conducted at the top of borehole DDH-26-01 casing and gas analyses were carried out using standard headspace gas measurements (2-L) at room temperature and pressure and using 1,300 mL of water and 700 mL of air. Sampling for headspace gas, ranged from depths of 368 m to 710 m, and was conducted between February 25 and March 5, 2026.

Hydrogen Results

At 638 metres, gas bubbles were physically observed rising from the drill head – direct visual confirmation of free hydrogen escaping the formation at the moment of intersection. This field observation is among the most unambiguous forms of evidence available to an exploration team: gas under sufficient pressure to physically exsolve and migrate upward through the drill column in real time.

From 505 m to 680 m, a sustained zone of significantly elevated hydrogen concentrations was identified. Within this interval, on multiple separate occasions, hydrogen concentrations exceeded the maximum detectable range of the GA5000 gas analyzer entirely, logged simply as instrument maximum exceedance. Where exceedance was recorded, samples were subsequently reanalysed using a second independent Eagle-2 H₂ gas detector, confirming concentrations of 2,150 ppmV in diluted wellhead water – itself already subject to dilution factors of 100 to 10,000 times relative to true formation concentrations at depth. The 2,150 ppmV is not the peak. It is the confirmed minimum floor of what was measured at surface. The true deep well water concentration above it remains open.

From 683 m to 711 m, the deepest section drilled in hole DDH-26-01, the hydrogen system did not fade. Sustained readings of 525, 612, 623, 633, and 962 ppmV in diluted wellhead water were recorded in successive intervals, confirming that even at the furthest extent of the borehole, the system remains active, consistent, and measurable.

Throughout the entire sampled interval from 368 m to 710 m, methane (CH₄) was recorded at concentrations below the limit of detection of the GA5000 instrument in 97.3% of all samples. The statistical correlation between H₂ and CH₄ concentrations across the full dataset is R² = 0.06, confirming that hydrogen and methane are uncorrelated and that the gas system is purely hydrogen-dominant with no thermogenic hydrocarbon association.

Hydrogen concentrations are equally uncorrelated with CO₂ (R² = 0.009), with 97.3% of samples showing CO₂ at only 0.1% by volume. The combined absence of methane, the extremely low CO₂ levels, and the dominance of H₂ across both drilling and previously conducted soil-gas surveys confirm a pure inorganic hydrogen source – not a petroleum leakage, not a biodegradation plume, and not a thermogenic system of any kind.

The Dilution Factor

Investors and analysts reviewing the surface measurements should understand the hydrodynamic context that makes them truly extraordinary. Due to the operational constraints of diamond drilling, water samples are collected at the wellhead outlet, not at depth. For example, for borehole DDH-26-01 at 725 m depth, the internal water volume is approximately 717 imperial gallons. With a surface pumping rate of 13.5 gallons per minute, the residence time of water within the borehole is on the order of 54 minutes, resulting in substantial dilution of any gases present in the formation before samples reach surface.

Furthermore, as Prof. Richer-LaFlèche’s analysis establishes, if a gas leak occurs along a porous interval within a deep fracture zone approximately 2 metres thick, the contact time between circulating water and the fractured zone is only approximately 9 seconds. Under such highly hydrodynamic conditions, hydrogen concentrations measured in headspace samples collected at the wellhead are expected to be strongly diluted compared with samples obtained directly at depth under static or near-static conditions.

The result, as independently established by INRS, is that dilution factors of 10² to 10⁴ – that is, 100 to 10,000 times – are expected at this borehole. The confirmed 2,150 ppmV in diluted headspace water measurement represents a very diluted fraction of the true hydrogen concentrations coming out of faulted zones at depth.

Applying the lower bound of Prof. Richer-LaFlèche’s dilution range alone, true in-situ deep well concentrations in the fault zone could exceed 215,000 ppmV which is near 21.5%V H2 (headspace gas measurements). At dilution ratios approaching 465×, the theoretical formation concentration would approach hydrogen saturation (~100% by volume). This modelling illustrates the magnitude of dilution occurring during circulation drilling and why surface measurements represent only a fraction of the hydrogen present at depth.

Why the Dilution Model Matters

Surface hydrogen measurements collected during active drilling represent only a diluted fraction of the hydrogen entering the borehole from hydrogen-bearing fracture zones at depth. During diamond drilling, circulating drilling fluids and subsurface fluids move continuously through the borehole before reaching surface sampling points. This process introduces significant hydrodynamic mixing and dilution within a large water column prior to measurement.

For borehole DDH-26-01, the internal borehole water volume and circulation rates indicate that hydrogen measured at the wellhead is subject to dilution factors estimated by INRS to range from approximately 10² to 10⁴ (100× to 10,000×). As a result, surface headspace measurements represent only a small portion of the hydrogen actually entering the borehole from fractured zones at depth.

Applying the lower bound of this dilution range to the confirmed 2,150 ppmV surface measurement implies potential in-situ formation concentrations exceeding approximately 215,000 ppmV (≈21.5% hydrogen by volume). Higher dilution ratios would imply proportionally higher formation concentrations. These calculations illustrate the scale of dilution occurring within the circulating borehole system and demonstrate why surface measurements cannot directly represent the full hydrogen concentration present in the subsurface.

Equally important, hydrogen remained repeatedly measurable at surface despite this dilution, borehole circulation, and transport to surface. The persistence of hydrogen readings across a broad depth interval therefore supports the interpretation that DDH-26-01 intersected an active hydrogen-bearing fracture system rather than a small isolated gas occurrence.

‘I want to be precise with the market about what we have found and what the instruments told us,’ stated John Karagiannidis, CEO of QIMC. ‘On multiple separate depth intervals, our GA5000 field instruments were pushed past their maximum detection ceiling entirely – the instruments had no higher reading to give us. When we reanalysed those samples with a second independent Eagle-2 detector, we confirmed concentrations exceeding instrument detection thresholds in diluted wellhead water – water that Prof. Richer-LaFlèche has established carries a dilution factor of 100 to 10,000 times relative to what the formation holds at depth. Every single methane reading across the entire hole came back zero. This is a hydrogen system whose true magnitude our instruments could not fully measure at surface. The data from DDH-26-01 has not set a ceiling for this project. It has set a floor. Hole 2 is underway and we are going deeper.’

INRS Analysis by Prof. Marc Richer-LaFlèche

The complete gas geochemistry dataset (headspace analysis of well water samples) and drill core from DDH-26-01 have been submitted to and independently analysed by Prof. Marc Richer-LaFlèche of the Institut National de la Recherche Scientifique (INRS), Québec. Prof. Richer-LaFlèche worked on the Reactivated Rift and Graben Geostructure (R2G2) exploration model that underpins QIMC’s targeting methodology, and is serving as independent third-party scientific analyst for the West-Advocate 2026 programme.

In his assessment, Prof. Richer-LaFlèche states:

*’Drilling DDH-26-01 represents a major milestone for natural hydrogen exploration in Nova Scotia, and particularly for the greater Advocate (Cumberland) area. Analytical results from this borehole clearly demonstrate that secondary faults act as conduits for natural hydrogen circulation and its transfer toward the subsurface. These findings validate the exploration model applied by QIMC and its collaborators for targeting natural hydrogen along the Cobequid-Minas Fault Zone (CMFZ) deformation corridor.’*

Prof. Richer-LaFlèche further notes that the near-absence of methane across all sampled intervals:

*’…is a pattern consistent with our working hypothesis that hydrogen production in the area is primarily related to radiolytic processes and/or water-rock reactions involving iron-rich geological materials. This observation is significant because methane was also absent from the soil-gas surveys conducted in the West-Advocate area. The convergence of these two independent datasets reinforces the interpretation that hydrogen circulating within the local rock mass may accumulate locally, offering the potential for clean hydrogen resources without the co-production of methane or other greenhouse gases.’*

Cannot view this image? Visit: https://insiderlegacysecret.com/wp-content/uploads/2026/03/287951_4f6b9922a4bb5a1b_001.jpg

Figure 1. Diagrams illustrating the variations in measured hydrogen concentrations (ppmV) in head-space gas samples obtained from water exiting the DDH-26-01 borehole casing. A) Vertical distribution of hydrogen concentrations as a function of depth along the 55°-inclined borehole. B) Statistical variability of the dataset and identification of background noise, anomalous samples, and strongly anomalous samples based on a normal probability plot derived from the head-space gas analyses performed on water samples from DDH-26-01.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7968/287951_4f6b9922a4bb5a1b_001full.jpg

Technical Interpretation – What These Results Suggest

The persistence of hydrogen concentrations toward the bottom of the borehole, combined with visible gas observations and instrument exceedances, suggests the drill hole intersected an active hydrogen migration corridor rather than an isolated gas occurrence.

The Data – Interval by Interval

Multiple intervals between approximately 500 m and 680 m returned hydrogen readings exceeding the GA5000 instrument detection limits. Independent verification using an Eagle-2 detector confirmed hydrogen concentrations exceeding 2,150 ppmV in diluted wellhead samples. Sustained hydrogen readings continued from 683 m to 711 m depth.

Geology Confirms the System

Drill cores recovered from approximately 570 m to 680 m depth present a lithological character that is both visually compelling and geologically coherent with the gas data. Dark carbonaceous and graphitic black rock alternates with lighter siltstones. The abundant fracturing and veining observed throughout the core indicates active structural pathways through which hydrogen-bearing fluids migrate and accumulate.

The geology did not change. The drill did not stop. The system did not weaken.

Next Steps

Drilling continues with Hole 2 targeting deeper portions of the interpreted structural system. Additional borehole sampling, gas geochemistry analysis and isotopic studies are ongoing in collaboration with researchers from INRS.

For More Information, Please Contact:

REGULATORY DISCLAIMER

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. This press release contains forward-looking statements based on current expectations, field observations, and preliminary data. Actual results may differ materially. All gas readings and geological interpretations are preliminary and subject to further independent verification and analysis. Instrument maximum exceedance readings indicate hydrogen concentrations beyond the GA5000’s upper detection threshold; the confirmed surface measurement of 2,150 ppmV was independently verified using an Eagle-2 H₂ gas detector from diluted wellhead water samples. Dilution factor estimates of 10² to 10⁴ are based on borehole hydrodynamic modelling by Prof. Richer-Lafleche of INRS and represent a range of expected values; true in-situ formation concentrations are undetermined pending further analysis. Projected in-situ concentration ranges derived from dilution factor modelling are illustrative estimates only and do not represent confirmed or measured formation concentrations. This release does not constitute an offer of securities or investment advice. Investors are urged to conduct their own due diligence.

Forward-Looking Statements

This press release contains ‘forward-looking statements’ and ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements are based on expectations, estimates, and projections as of the date of this press release and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements of the Company to differ materially from those expressed or implied.

Forward-looking statements are generally identified by words such as ‘expects,’ ‘anticipates,’ ‘believes,’ ‘intends,’ ‘estimates,’ ‘projects,’ ‘potential,’ and similar expressions, or by statements that events or conditions ‘will,’ ‘may,’ ‘could,’ or ‘should’ occur.

Although the Company believes that the forward-looking information contained herein is reasonable as of the date of this press release, such information is subject to change and no assurance can be given that future results will be achieved. The Company undertakes no obligation to update forward-looking statements except as required by applicable law.

Source

This post appeared first on investingnews.com

A week and a half into the U.S. and Israeli strikes against Iran, the latest national public opinion poll indicates that more than half of American voters oppose U.S. military action.

But the survey from Quinnipiac University in Connecticut is the latest to indicate a wide partisan divide when it comes to support for the U.S. military operation, known as Epic Fury, which has resulted in the death of Iran’s Supreme Leader, Ayatollah Ali Khamenei, and the decimation of the country’s military.

Fifty-three percent of voters questioned in the poll, which was conducted Friday through Sunday, said they oppose the U.S. military action against Iran, which was ordered by President Donald Trump, with 40% supporting the operation.

The Quinnipiac poll joins other recent surveys from NPR/PBS/Marist (44%–55%), CBS News (44%–56%), NBC News (41%–54%), Washington Post (39%–52%), CNN (41%–59%), and Reuters/Ipsos (27%–43%), in indicating minority support for U.S. military action.

But the latest Fox News poll, conducted Feb. 28–March 2, showed Americans split at 50% in their support or opposition to the fighting.

And three other national polls conducted over the past week and a half indicated majority or plurality support for the operation.

The surveys highlight the divergence between Democrats and Republicans over the fighting.

More than 8 in 10 Republicans surveyed by Fox News said they approved of the U.S. use of force against Iran, with 6 in 10 saying the president’s actions on Iran are making the U.S. safer. 

But nearly 8 in 10 Democrats and 6 in 10 independents disapproved of the U.S. strikes and said things are less safe because of Trump’s performance.

The vast majority of Democrats surveyed by Quinnipiac University, as well as 6-in-10 independents, said they opposed the strikes on Iran, with 85% of Republicans supporting the military action.

A majority (55%) questioned by Quinnipiac said they didn’t think Iran posed an imminent military threat to the U.S. before the attacks, with nearly four in ten disagreeing. 

Again, there was a partisan divide, with 83% of Democrats and 63% of independents saying Iran didn’t pose an imminent threat, while nearly three quarters of Republicans said Tehran did pose an imminent threat.

But there was no partisan gap when it came to the possibility of sending U.S. ground troops into Iran.

Nearly three quarters of voters opposed sending U.S. ground troops into Iran, including 95% of Democrats, 75% of independents and 52% of Republicans.

Trump and Defense Secretary Pete Hegseth have repeatedly not ruled out using ground troops in Iran.

Asked how long the fighting between the U.S. and Iran, which has retaliated with strikes against Israel and other nations in the volatile Middle East, will last, just 3% of Quinnipiac pollees said days, 18% offered weeks, 32% guessed months, 13% thought the attacks could last a year, and just over a quarter said more than a year.

‘Very soon,’ Trump said at a news conference Monday, when asked when the strikes would end. ‘Look, everything they have is gone, including their leadership.’

And the president described the operation as an ‘excursion.’

Quinnipiac University Polling Analyst Peter Malloy noted that ‘perhaps compelled by memories of long wars, Americans see no early end to the enormous upheaval in the Middle East.’

Trump recently dismissed the polling on Iran, telling the New York Post March 2: ‘I don’t care about polling. I have to do the right thing. I have to do the right thing. This should have been done a long time ago.’

Trump’s overall approval rating stood at 37% in the Quinnipiac poll, with 57% giving the president a thumbs down on the job he’s doing in the White House.

The president stood at 43% approval in the Fox News poll, and at 44% in the NBC News survey. An average of the latest national surveys that gauged the president’s performance put Trump at 43% approval and 54% disapproval.


This post appeared first on FOX NEWS

War Secretary Pete Hegseth said Tuesday that Russia ‘should not be involved’ in the escalating conflict between the United States, Israel and Iran, even as analysts point to Russian military activity that aligns with reports Moscow may be aiding Tehran.

‘The president maintains strong relationships with world leaders, which creates opportunities and options for us in very dynamic ways,’ Hegseth said when asked about President Donald Trump’s recent call with Russian President Vladimir Putin. 

But as it relates to the Middle East conflict, he added, Russia ‘should not be involved.’

The administration’s messaging comes amid reports that Russia has provided information that could help Iran identify U.S. military assets in the Middle East. Moscow has not publicly confirmed the claims. 

Intelligence assessments have reportedly said Russia provided Iran with information that could help identify the locations of American warships, aircraft and other military assets. Officials reportedly stressed there is no public evidence that Moscow is directing Iranian strikes, but said the information could assist Tehran’s targeting efforts.

The scope, timing and operational impact of that information have not been publicly detailed.

While there is no public evidence definitively proving Russia is providing real-time targeting data, George Barros, a Russia expert at the Institute for the Study of War, said open-source indicators are consistent with the type of support described in the reports.

Barros pointed to Russian military reconnaissance satellites, including Cosmos-2550, a radar and electronic signature spacecraft that recently passed over the Persian Gulf and Arabian Sea — areas where U.S. forces have been operating.

‘They’re specialized for naval reconnaissance and detecting ships, because the radar signature off the water really pings it quite well,’ Barros said. ‘These are known capabilities of the Russians.’

Such radar systems can detect maritime targets and electronic emissions that reveal force positioning. Barros said those capabilities align with known gaps in Iran’s own space-based intelligence collection.

Although he cautioned that he does not have dispositive proof of real-time targeting support, Barros said the convergence of Russian reconnaissance capabilities, satellite positioning and reported cooperation ‘makes total sense.’

Trump on Monday described his recent conversation with Putin as ‘very good’ and ‘constructive,’ saying the Russian leader ‘wants to be very constructive.’ Trump suggested Moscow could be more helpful by helping bring the war in Ukraine to an end.

Iran’s foreign minister, Abbas Araghchi, acknowledged over the weekend that Russia is assisting Iran ‘in many different directions’ in its war with the United States and Israel. Pressed on whether that includes intelligence sharing, Araghchi said, ‘They are helping us in many different directions,’ but added, ‘I don’t have any detailed information.’

Beyond intelligence collection, analysts say battlefield patterns suggest tactical cross-pollination between Russia and Iran. 

During the war in Ukraine, Iran supplied Russia with Shahed one-way attack drones, which Moscow deployed extensively against Ukrainian cities and infrastructure. Over time, Russian forces refined strike packages combining drones, cruise missiles and ballistic missiles to overwhelm integrated Western air defense systems.

‘The Russians got really, really good at learning how to launch drones against integrated Western air defense systems,’ Barros said.

Those lessons, he said, appear to have informed Iranian strike tactics in the Middle East, where Tehran has launched large-scale combined missile and drone attacks against U.S. and allied targets.

If confirmed, Barros argued, intelligence sharing that materially supports Iranian targeting would amount to Moscow acting as a ‘co-belligerent.’

‘The Russians are coming out with Iran as a co-belligerent,’ he said, adding that the Kremlin has long viewed the United States as a geopolitical adversary.

At the same time, Russia remains constrained in how far it can go. 

Russian ground forces are tied down in Ukraine and are not in a position to deploy to assist Iran. Analysts say any Russian support is far more likely to come in the form of intelligence sharing, technology transfers or drone production rather than boots on the ground.

One potential avenue involves drone manufacturing.

Russia operates large-scale Shahed-derived drone production facilities that were initially enabled by Iranian technology transfers. If Iran’s domestic drone factories are degraded by strikes, Russian production could theoretically help sustain Tehran’s aerial campaign, though there is no confirmed evidence that such transfers are occurring.

Defense officials have publicly downplayed the operational impact of any reported Russian assistance, saying U.S. commanders are tracking foreign intelligence activity and factoring it into planning.

The contrast between Trump’s characterization of Putin as ‘constructive’ and Hegseth’s warning that Russia should stay out of the conflict underscores the delicate balance the administration is attempting to strike — pursuing diplomacy in Ukraine while confronting the possibility of deeper cooperation between Moscow and Tehran in the Middle East.

For now, analysts say the evidence stops short of conclusive proof. But the alignment of Russian reconnaissance capabilities, battlefield tactics refined in Ukraine and Tehran’s own acknowledgment of assistance has intensified scrutiny of Moscow’s role as the regional war unfolds.

Russia has not publicly responded to the allegation of intelligence sharing with Iran, but has broadly called for de-escalation of the conflict. 

The Russian embassy could not immediately be reached for comment.


This post appeared first on FOX NEWS

After-tax NPV(8%) of $473M (USD $346.6M) and 2.2-year payback from start of production with IRR of 48.8% at USD $1,000/mtu WO3

Key Highlights:

  • Additional Payback Metrics: Payback[1] of approximately 2.2 years from commencement of commercial production corresponding to approximately 4.2 years from start of construction under the medium case of USD $1,000/mtu WO₃. [2]

  • Capital Efficient Development: Initial capital cost[3] at the Borralha Project of approximately $125.0 million (USD $91.5 million), with a compact infrastructure layout designed to support efficient underground mining and processing operations.

  • Strong Annual Cash Flow Generation: Average annual revenue of approximately $252.52 million (USD $184.89 million), average annual EBITDA of approximately $142.18 million (USD $104.10 million), and average annual free cash flow of approximately $96.28 million (USD $70.49 million) over the initial mine plan at USD $1,000/mtu WO₃.[4]

  • Integrated Infrastructure Design: Project infrastructure includes planned hydro electric power connection, water supply and recycling systems, road access, and paste backfill integration to support operations while minimizing environmental footprint.

  • Significant Upside Leverage: After-tax IRR of 78.4% and NPV(8%) of $963.8 million (USD $706.4 million) at USD $1,500/mtu WO₃.

  • Resource Growth Underway: Fully funded 20,000-metre drill program continues to target resource expansion, confidence conversion and potential mine life extension beyond the initial 11-year production plan, targeting resource expansion and confidence conversion.

All figures in North American decimal nomenclature.
All amounts in Canadian dollars unless stated otherwise.4

Vancouver, British Columbia–(Newsfile Corp. – March 10, 2026) – Allied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) (‘Allied’ or the ‘Company’) is pleased to provide additional economic and technical detail from the recently announced Preliminary Economic Assessment (‘PEA’) for its 100%-owned Borralha Tungsten Project (the ‘Borralha Project’) in northern Portugal. The Borralha Project’s previously announced PEA economics remain unchanged.

This news release is an amending and restating news release clarifying and correcting the immediately preceding news release dated March 9, 2026 to present figures consistently using North American decimal nomenclature rather than European comma nomenclature. In addition, Table 3 was updated to address rounding errors, translation errors and currency conversion using $1.3658 CAD/USD and Table 5 was updated to clarify use of USD $M.

Roy Bonnell, CEO & Director of Allied, commented: ‘Following the release of our initial PEA for the Borralha Project, we received strong investor interest in additional project-level detail. This supplementary disclosure highlights the Project’s capital efficiency, strong annual cash generation and well-developed infrastructure platform. Importantly, the underlying economics of the PEA remain unchanged, while the additional payback presentation provides another useful reference point for investors evaluating project returns and the strong leverage the Borralha Project has to tungsten prices.’

This additional disclosure provides greater clarity on Borralha Project’s capital efficiency, expected cash flow generation and rapid capital recovery profile. The PEA outlines a capital-efficient underground tungsten development project within the European Union, demonstrating strong economic returns across a range of tungsten price assumptions and significant leverage to current market prices. The estimated capital expenditures for the build out of the Borralha Project are the result of advanced project infrastructure that a planned hydro-electric power connection, water supply and recycling systems, road access, and paste backfill integration to support operations while minimizing environmental footprint.

The PEA continues to demonstrate a technically robust and capital-efficient underground tungsten development project within the European Union. As previously announced, the PEA was evaluated under three pricing frameworks: the Base case of $962/mtu WO₃ (USD $704/mtu WO₃), $1,365/mtu WO₃ (USD $1,000/mtu WO₃), and $2,049/mtu WO₃ (USD $1,500/mtu WO₃), while mine design and cut-off grade selection were developed using a conservative tungsten price assumption of $900/mtu WO₃ (USD $659/mtu WO₃). The Company is providing the additional metrics below to facilitate investor understanding of project capital intensity, cash flow generation and payback presentation. For additional information, please see the news release dated March 2, 2026.

For additional reference, the Company is presenting payback under two different measurement bases. The previously disclosed payback metrics were measured from the start of construction (SC), consistent with standard technical study practice. To facilitate comparison with industry benchmarks, the Company is also providing indicative payback measured from the commencement of commercial production (CCP).

Table 1 — Economic Results (After-Tax)

Scenario Price1 NPV (8%)2 IRR3 Payback SC4 Payback CCP4
Medium $1,365/mtu
(USD $1,000/mtu)
$473.4M
(USD $346.6M)
48.8% 2.2 years 4.2 years
Base $962/mtu
(USD $704/mtu)
$182.7M
(USD $134.0M)
27.2% 3.8 years 5.8 years
High $2,049/mtu
(USD $1,500/mtu)
$963.8M
(USD $706.4M)
78.4% 1.2 years 3.2 years

 

Notes:

  1. NPV is a Non-GAAP measure; see notes below for additional information regarding NPV. M = million.
  2. IRR is a Non-GAAP measure; see notes below for additional information regarding IRR.
  3. Payback is a Non-GAAP measure. see notes below for additional information regarding payback.

Payback measured from the start of construction reflects recovery of initial capital over the full development and operating timeline, while payback measured from the start of commercial production excludes the construction phase and is presented for comparative reference only.

The results highlight significant sensitivity to tungsten price while maintaining positive economics under conservative long-term assumptions.

In the Base Case scenario, tungsten (WO₃) represents approximately 96% of project NPV, with minor contributions from copper (~3%) and tin (<1%), based on NSR contribution. This highlights that the Borralha Project economics are overwhelmingly driven by tungsten.

For reference, current reported tungsten market prices remain materially above the USD $1,000 per mtu sensitivity case presented in the PEA, reaching approximately $2,998 per mtu (USD $2,195 per mtu) as of March 6, 2026 (Source: Fastmarkets).

Mineral Resource Estimate

This initial PEA is based on the updated Mineral Resource Estimate (‘MRE’ or ‘2025 MRE’) for the Santa Helena Breccia at the Borralha Project, which were presented in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’) in the Company’s current technical report on Borralha (the ‘Technical Report’) entitled ‘Technical Report on the Borralha Property, Parish of Salto, District of Vila Real, Portugal’, dated effective December 30, 2025, which is published on the Company’s website at www.alliedcritical.com and under its profile on SEDAR+ at www.sedarplus.ca.

Under the 2025 MRE, the Santa Helena Breccia has been tested by 41 drill holes and surface trenching over approximately 400 meters of strike length and to depths exceeding 350 meters below surface. Mineralization remains open along strike and at depth. The cut-off grade of 0.09% WO3was selected based on reasonable prospects for eventual economic extraction under conceptual underground mining and gravity-dominant processing assumptions, including a very conservative tungsten price of USD $ 550/mtu WO₃ and assumed recovery of approximately 80% (for MRE cut-off determination only).

Table 2 —2025 MRE for Borralha (see also Technical Report for further details)

Clasification Tonnes (Mt)* Grade (% WO3)
Measured + Indicated 13.0 0.21
Inferred 7.7 0.18

 

*Mt denotes millions of tonnes (t).

Initial Capital Allocation and Operational Costs

The Borralha PEA estimates initial capital[7] of approximately USD $91.5 million, with sustaining capital[8] of approximately USD $87 million and total life-of-mine capital[9] of approximately USD $178 million. The initial capital requirement reflects a compact project design integrating underground mine development, process plant construction and site infrastructure.

Table 3 — Initial Capital Costs

Category CAD$M* USD $M*
Underground development $52.93 $38.755
Processing plant $26.54 $19.435
Paste backfill plant $5.34 $3.910
Surface infrastructure $6.13 $4.485
Power connection $8.95 $6.555
EPCM / indirect costs** $19.16 $14.03
Contingency $5.97 $4.356
Initial Capital Costs $125.0 $91.5
Tax incentives $34.3 $25.1

 

*Canadian dollar (CAD) equivalents calculated used a foreign exchange rate of CAD $1.3658/USD.
M denotes million.
**EPCM = Engineering, Procurement, and Construction Management.

Certain development expenditures may also qualify for applicable Portuguese investment tax incentives, which could partially offset initial capital expenditures.

Table 4 — Operating Cost[10] Breakdown

Cost Category USD $/t Processed*
Mining $41.2
Processing $13.2
G&A $5.0
Transport $0.02
TC/RC** $0.51
Total Operating Cost*** $59.3

 

*USD $/t denotes USD $/tonne.
**TC/RC = Treatment Changes and Refining Charges. These are fees paid by mining companies to smelters to process raw material concentrate into refined metal.
***Operating costs for life-of-mine used for mine design average approximately US$49/t processed, based on the Sub-Level Long Hole Stoping (SLOS) mining method. Limited areas may utilize Drift & Fill mining, which carries higher unit costs. In the economic model, operating costs are expressed in nominal US dollars and escalated annually for inflation, resulting in an average life of mine operating cost of approximately US$59/t processed, including transportation and treatment/refining charges.

Concentrate Marketing Assumptions

The PEA assumes production of a marketable tungsten concentrate grading approximately 65% WO₃ using a gravity-dominant flowsheet. Concentrate pricing assumptions are based on industry-standard tungsten concentrate marketing structures, incorporating typical 80% payability terms and treatment charges applicable to the tungsten market.

The Borralha Project benefits from relatively clean mineralogy dominated by wolframite, which generally reduces impurity-related penalties relative to more complex tungsten concentrates.

Capital Efficiency

The relatively modest initial capital requirement reflects several favourable project characteristics, including but not limited to:

  • compact underground mining footprint
  • gravity-dominant processing flowsheet
  • access to regional infrastructure including electrical grid power
  • limited earthworks due to site topography
  • moderate plant throughput of 1.4 million tonnes per annum (Mtpa) of mineralized material
  • potential Portuguese investment incentives

These factors contribute to a capital-efficient development scenario compared with many global tungsten projects.

Simplified Annual Cash Flow Metrics

The initial Borralha Project mine plan is expected to generate strong annual cash flow[11] supported by life-of-mine average production of approximately 1,708 tonnes WO₃ per annum, a nominal processing rate of 1.4 Mtpa, and an average mill feed grade of approximately 0.20% WO₃.

Table 5 — Cash-Flow11 Table

Cash Flow Metric Base Case
(USD $M)

USD $704/mtu WO₃
Medium Case
(USD $M)
USD $1,000/mtu WO₃
High Case
(USD $M)
USD $1,500/mtu WO₃
Average annual revenue $131.75 $184.89 $274.69
Average annual EBITDA $53.37 $104.10 $189.86
Average annual pre-tax operating cash flow $40.41 $91.13 $176.89
Average annual free cash flow $35.82 $70.49 $128.79
Life-of-mine revenue $1,449.23 $2,033.75 $3,021.55
Life-of-mine free cash flow $393.97 $775.43 $1,416.64

 

*All figures presented in USD $M, which denotes USD $ million.

Infrastructure and Site Requirements

The Borralha Project benefits from favourable site conditions and access to existing regional infrastructure, supporting a capital-efficient development.

Surface infrastructure has been designed to concentrate industrial and administrative facilities within a compact footprint, minimizing environmental disturbance while ensuring operational efficiency. The process plant, paste backfill facility, workshops, administrative buildings and support infrastructure will be located on a centralized platform adjacent to the orebody.

Access to the site will utilize existing regional roads connected to the municipal road CM1025-2. Dedicated routes for light and heavy vehicles have been designed to ensure safe operations while minimizing earthworks and environmental impact.

A comprehensive water management system has been designed to support mining and processing operations. Water supply is expected to be sourced from local groundwater and surface water resources, with water recycling integrated into the process flowsheet. Three retention basins will provide operational water storage, sedimentation and environmental control.

Electrical power will be supplied through connection to the Portuguese national grid via a planned 60 kV overhead line linking the Borralha substation to the SE Frades (REN) substation over approximately 6.5 km. The design complies with applicable national standards and incorporates environmental protection measures.

The project infrastructure design integrates processing, backfill, water management and power supply systems to support efficient underground mining operations while minimizing environmental impact.

Key Infrastructure Advantages

  • Grid power connection (60 kV line – 6.5 km)
  • Local groundwater and surface water available for operations
  • Existing regional road access to site
  • Compact site layout minimizing environmental footprint
  • Paste backfill and water recycling integrated into plant design

Ongoing Growth Strategy

The current initial PEA is based only on the Santa Helena Breccia deposit and an initial 11-year production plan. The Company’s fully funded 20,000-metre drill program is underway and is targeting:

  • expansion of the current Mineral Resource;
  • conversion of Inferred Mineral Resources into higher-confidence categories;
  • potential extension of mine life beyond the initial plan; and
  • evaluation of throughput optimization and future project scale growth.

The Company intends to continue advancing Borralha through additional drilling, engineering optimization, metallurgical refinement, geotechnical and hydrogeological studies, and progression toward the next stage of technical study.

Qualified Persons

The scientific and technical information contained in this news release has been reviewed and approved by the following Qualified Persons, as defined under NI 43-101:

J. Douglas Blanchflower, P.Geo.

Mr. Blanchflower is an independent Qualified Person under NI 43-101 and was retained by Allied Critical Metals Inc. to prepare the NI 43-101 Technical Report dated effective December 30, 2025. He has overall responsibility for the 2025 MRE and the Technical Report. Mr. Blanchflower is a Registered Professional Geoscientist in good standing with the Association of Professional Engineers and Geoscientists of British Columbia (No. 19086) and has more than five decades of experience in mineral exploration, resource estimation, and technical reporting. Mr. Blanchflower has reviewed and approved the scientific and technical information in this news release relating to the mineral resource estimate.

David Castro López, BSc, MIMMM, QMR

Mr. Castro López is a Mining Engineer and a Professional Member (MIMMM #685484) and Qualified for Minerals Reporting (QMR) of the Institute of Materials, Minerals and Mining (IOM3). He is independent of the Company and the Borralha Project. Mr. Castro López contributed to the metallurgical review and process design considerations supporting the PEA and takes responsibility for the metallurgical and mineral processing information contained herein. Mr. López has reviewed and approved the scientific and technical information in this news release relating to the metallurgical and mineral processing information contained herein.

Miguel Cabal, EurGeol, Licensed Geologist

Mr. Cabal is a licensed geologist with the European Federation of Geologists (EuroGeol #1439) with over 28 years of experience in mineral exploration, resource evaluation and mine development. He is Managing Director of Geomates (Spain) and has contributed to multiple NI 43-101 and JORC-compliant technical reports, including PEA, PFS and feasibility studies. Mr. Cabal is independent of Allied Critical Metals Inc. and the Borralha Project and has reviewed and approved the mining and economic components of the PEA. Mr. Cabal has reviewed and approved the scientific and technical information in this news release relating to the mining and economic components of this news release.

Vítor Arezes, BSc, MIMMM, QMR

Mr. Arezes is Vice President Exploration of Allied Critical Metals Inc. and a Qualified Person under NI 43-101. He is not independent of the Company due to his role as an officer. Mr. Arezes has extensive experience in tungsten and polymetallic mineral systems and has conducted multiple site visits to the Borralha Project, including during the 2025 drilling campaign. He contributed to geological interpretation, exploration oversight, and technical review supporting the PEA. He is a member of the Institute of Materials, Minerals and Mining (MIMMM #703197) and a Qualified Mineral Resources and Ore Reserves Professional (QMR), and by reason of education, professional experience, and accreditation, meets the definition of a Qualified Person as defined in NI 43-101. Mr. Arezes has reviewed and approved all of the scientific and technical information in this news release.

About Allied Critical Metals Inc.

Allied Critical Metals Inc. is a Canadian-based mining company focused on the advancement and revitalization of its 100%-owned Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal.

The Borralha Project is one of the largest undeveloped tungsten resources within the European Union and benefits from a favourable Environmental Impact Declaration (DIA), positioning the Project for advancement toward feasibility and development. Vila Verde represents additional exploration upside within the same strategic jurisdiction.

Tungsten has been designated a critical raw material by the United States and the European Union due to its strategic importance in defense, aerospace, manufacturing, automotive, electronics and energy applications. Currently, China, Russia and North Korea account for approximately 87% of global tungsten supply and reserves, highlighting the importance of secure western sources.

Further details regarding the Borralha Project are available in the Company’s NI 43-101 Technical Report dated December 30, 2025, filed on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.alliedcritical.com.

ON BEHALF OF THE BOARD OF DIRECTORS

‘Roy Bonnell’
CEO and Director

Additional information is also available by contacting the Company:

Dave Burwell
Vice President, Corporate Development
daveb@alliedcritical.com
Tel: 403-410-7907
Toll Free: 1-800-221-0915

Please also visit our website at www.alliedcritical.com.

Also visit us at:
LinkedIn: https://www.linkedin.com/company/allied-critical-metals-inc/
X: https://x.com/@alliedcritical/
Facebook: https://www.facebook.com/alliedcriticalmetals/
Instagram: https://www.instagram.com/alliedcriticalmetals/

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities laws (‘FLI‘). FLI in this release includes, without limitation, statements regarding: (A) the PEA results and economic indicators (e.g., NPV, IRR, payback and related sensitivities); (B) the conceptual mine plan and operating framework (mining approach, processing rates, production profiles, cost ranges and schedules); (C) the technical basis and process assumptions (cut-off approach, flowsheet concept and anticipated concentrate specifications); (D) the status and trajectory of permitting and approvals, infrastructure access and other site requirements; (E) market-related assumptions and the Project’s sensitivity and leverage to commodity pricing; (F) growth, conversion and expansion opportunities, including planned drilling and other technical programs; (G) the anticipated sequence of future studies, potential financing pathways and indicative timelines; and (H) the Project’s strategic positioning relative to regional and policy objectives. Such FLI is identified by, among other things, words such as ‘plans’, ‘expects’, ‘is expected’, ‘aims’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’, ‘potential’, ‘target’, ‘opportunity’, ‘may’, ‘could’, ‘would’, ‘might’, ‘will’ and similar terminology, as well as statements regarding outcomes that ‘will’, ‘should’ or ‘would’ occur.

Material assumptions underlying the FLI include, but are not limited to: the accuracy of the 2025 MRE; geological continuity; the PEA-level capital/operating cost estimates (with typical PEA accuracy ranges); metallurgical recoveries and process performance consistent with test results to date; availability of labour, equipment and consumables at quoted/priced levels; access to grid power and water on contemplated terms; the ability to obtain land access, permits and approvals (including RECAPE) in a timely manner; tungsten pricing consistent with Argus long-term forecasts or stated sensitivity cases; foreign exchange and inflation consistent with study inputs; and availability of financing on acceptable terms. The Company believes these assumptions are reasonable as of the date hereof, but no assurance can be given that they will prove correct.

The PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that the PEA results will be realized. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Any reference to potential production, mine life, NPV, IRR, payback, costs, recoveries, or other economic or technical parameters is preliminary and conceptual.

Key risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the FLI include, but are not limited to: (i) exploration, geological, modelling and grade-continuity risks, including the risk that further work does not confirm Inferred material or resource extensions; (ii) risks that metallurgical performance, WO₃ recoveries, concentrate quality or processing costs differ from test work and assumptions; (iii) capital cost escalation, schedule delays, contractor availability and supply-chain constraints; (iv) operating cost inflation (power, reagents, labour, transportation); (v) commodity price and FX volatility (including sustained periods below the Argus long-term or sensitivity prices assumed); (vi) permitting, environmental, social, community, land access and regulatory risks in Portugal (including RECAPE outcomes and permit conditions); (vii) water, tailings and geotechnical/hydrogeological risks inherent in underground operations; (viii) offtake, marketing and market-access risks for tungsten concentrates; (ix) availability and cost of equity, debt or project finance on acceptable terms; (x) changes in laws, regulations, taxes, royalties, or government policies; and (xi) other risks described under ‘Business Risks’ in the Company’s most recent MD&A and in other continuous disclosure filings available on SEDAR+. Readers are urged to carefully review those risk factors, which are expressly incorporated by reference into this cautionary note.

Non-GAAP Financial Measures

The Company has included certain non-GAAP financial measures in this press release. These financial measures are not defined under International Financial Reporting Standards (‘IFRS‘) and should not be considered in isolation. The Company believes that these financial measures, together with financial measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. The inclusion of these financial measures is meant to provide additional information and should not be used as a substitute for performance measures prepared in accordance with IFRS. These financial measures are not necessarily standard and therefore may not be comparable to other issuers.

Net Present Value (NPV) – is the present value calculation of net profit from operations determined using a particular discount rate. All NPV values stated herein are on an after tax basis.

Internal Rate of Return (IRR) – is a financial metric used to assess an investment’s profitability by calculating the annual rate of return that makes the NPV of all cash flows (both positive and negative) equal to zero.

Payback – is calculated in years as the length of time that it takes to pay off the capital costs from annual net profit expected from operations at the Borralha Project.

Initial capital – is the initial capital cost amount required to be expended to construct the mine and tungsten concentrator process equipment and buildings to begin processing mineralized material into saleable tungsten concentrate at commercial quantities according to the life of mine plan at the Borralha Project. Table 3 above provides a breakdown of the initial capital costs. This is an estimate accurate to +/-35%.

Sustaining capital – is a supplementary financial measure which reflects cash basis expenditures which are expected to maintain operations and sustain production levels at the Borralha Project.

Capital costs or Total life of mine capital costs – include the Initial capital and the sustaining capital.

Operating costs – are the costs required to process mineralized material into saleable tungsten concentrate at the Borralha Project. This includes: underground mining; processing and plant operations; general and administrative costs; and site services and infrastructure support (see Table 4 above for a breakdown of the operating costs). This can be calculated on the unit basis per mtu WO3 produced.

Cash flow – includes average annual revenue, average annual EBITDA (earnings before interest, taxes, depreciation and amortization), average annual pre-tax cash flow, average annual free cash flow, life of mine revenue, life of mine free cash flow. Average annual revenue is the average annual gross revenue over the life of mine. Average annual EBITDA is the average annual EBITDA over the life of mine. Average annual pre-tax cash flow is the average over the life of mine of the annual free cash flow prior to deduction of taxes. Life of mine revenue is the total gross revenue over the life of mine. Life of mine free cash flow is the total free cash flow over the life of mine. Free cash flows are revenues net of operating costs, royalties, working capital adjustments, capital expenditures and cash taxes. The Company believes that this measure is useful to readers in assessing the Company’s ability to generate cash flows from Borralha.

All-In Sustaining Costs (AISC) – are comprised of sustaining capital expenditures and site level costs to support ongoing operations and closure costs. All-in sustaining costs per mtu WO3 is calculated as AISC divided by the amount of mtu WO3 produced during the period that the costs are incurred. All-in sustaining costs capture the important components of the Company’s production and related costs and are used by the Company and investors to understand projected cost performance at the Borralha Project. Adoption of the all-in sustaining cost metric is voluntary and not necessarily standard, and therefore, this measure presented by the Company may not be comparable to similar measures presented by other issuers. The Company believes that the all-in sustaining cost measure complements existing measures and ratios reported by the Company. All-in sustaining cost includes both operating and capital costs required to sustain WO3 production on an ongoing basis. Sustaining operating costs represents expenditures expected to be incurred at the Project that are considered necessary to maintain production. Sustaining capital represents expected capital expenditures comprising mine development costs, including capitalized waste, and ongoing replacement of mine equipment and other capital facilities, and does not include expected capital expenditures for major growth projects or enhancement capital for significant infrastructure improvements.

[1] Payback is a Non-GAAP measure. See notes below for additional information regarding payback.
[2] mtu/WO3 = metric tonne unit of tungsten; WO3 is tungsten trioxide.
[3] Initial capital cost is a Non-GAAP measure. See Table 3 below for a breakdown of the costs and the notes below for additional information regarding initial capital cost.
[4] Average annual revenue, average annual EBITDA, and average annual free cash flow are Non-GAAP measures. See notes below for additional information.
[5] NPV(8%) = net present value at a 8% discount rate. NPV is a Non-GAAP measure; see notes below for additional information regarding NPV. USD = United States dollars. Canadian dollar (CAD) equivalents calculated used a foreign exchange rate of CAD $1.3658/USD.
[6] IRR = internal rate of return. IRR is a Non-GAAP measure; see notes below for additional information regarding IRR.
[7] Initial capital cost is a Non-GAAP measure. See Table 3 above for a breakdown of the costs and the notes below for additional information regarding initial capital cost.
[8] Sustaining capital is a Non-GAAP measure. See notes below for additional information regarding sustaining capital.
[9] Total life of mine capital cost is a Non-GAAP measure. See notes below for additional information regarding total life of mine capital cost.
[10] Operating cost is a Non-GAAP measure. See Table 4 for a breakdown of the Operating Costs and the notes below for additional information regarding Operating Cost.
[11] Cash flow is a Non-GAAP measure. See Table 5 for a breakdown of the cash flow and the notes below for additional information regarding cash flow.

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/287936

News Provided by TMX Newsfile via QuoteMedia

This post appeared first on investingnews.com

President Donald Trump, who rode promises of affordability back to the White House, is now confronting Iran-driven volatility that’s undermining that message as fuel costs rise nationwide — and putting fresh pressure on Republicans heading into the midterms.

With the Iran conflict rattling oil markets and raising fears of supply disruptions, gas prices are climbing again, squeezing Americans already worn down by inflation.

This week, oil prices surged past $100 a barrel for the first time since 2022 as fallout from the U.S.-Israeli conflict with Iran continued to roil global markets and investors priced in the risk of tighter supply. 

With oil higher, gasoline and diesel prices are rising fast.

The national average gas price climbed to $3.53 per gallon, up 59 cents over the past week, according to GasBuddy. Diesel prices also jumped, with the national average up 97 cents to $4.72 per gallon.

With control of Congress at stake, uneven gas price spikes are becoming a new midterm flashpoint, especially in hard-hit battleground states. 

The steepest week-over-week increases were in Indiana (up 58 cents), Florida (up 57 cents), Michigan (up 55 cents), Ohio (up 54 cents), and California (up 51 cents).

The lowest average prices were in Kansas ($2.90), Oklahoma ($2.95) and Arkansas ($2.98), while the highest were in California ($5.14), Washington ($4.58), and Hawaii ($4.33) — a regional divide that could sharpen midterm attacks over energy costs and inflation.

That kind of pocketbook pressure is exactly what Democrats have been eager to exploit. Last fall, Democrats leaned heavily on affordability themes in state and local elections, and it paid off.

In places like Virginia, New York and New Jersey, where voters have been squeezed by high housing costs and utility bills, Democratic candidates seized on Trump’s early economic moves, including his trade policy, to argue that his policies were worsening the affordability crisis rather than easing it.

They promised to rein in energy costs, expand affordable housing and protect middle-class wages, a message that resonated with voters.

With the ongoing conflict driving gasoline prices higher, the White House is weighing steps to protect shipping lanes in the Strait of Hormuz and keep prices from climbing further. That waterway is critical to global energy supply.

The Strait of Hormuz, a narrow passage between Iran and Oman, carries roughly 20 million barrels of oil a day and about one-fifth of the global supply of liquefied natural gas (LNG). 

When conflict flares in the region, even the threat of disruption can rattle markets because so much of the world’s energy moves through that single corridor.

Asked about the risk of disruptions, Trump said Monday evening he would keep the route open and threatened retaliation if Iran tried to interfere.

‘I will not allow a terrorist regime to hold the world hostage and attempt to stop the globe’s oil supply. And if Iran does anything to do that, they’ll get hit at a much, much harder level,’ Trump said during a press conference in Florida.

‘In the long run, oil supplies will be dramatically more secure without the threat of Iranian ships, drones, missiles,’ he added.


This post appeared first on FOX NEWS

Supreme Court Justices Ketanji Brown Jackson and Brett Kavanaugh had a dispute over the high court’s approach to its emergency docket in a rare, candid discussion during an event Monday night.

Jackson, a Biden appointee, signaled that the high court’s willingness to side with President Donald Trump most of the time when it comes to the emergency docket, sometimes known as the ‘shadow docket,’ was a ‘problem.’ The liberal justice is one of three, and all have frequently sided against Trump in emergency decisions, which have often broken 6-3 in favor of the president.

‘The administration is making new policy … and then insisting the new policy take effect immediately, before the challenge is decided,’ Jackson said, according to reports from The Associated Press and NBC News. ‘This uptick in the court’s willingness to get involved in cases on the emergency docket is a real unfortunate problem.’

Jackson said: ‘It’s not serving the court or this country well.’

Kavanaugh, a Trump appointee, countered that the Supreme Court’s approach to emergency requests was not unique to the Trump administration and that the high court handled the Biden administration the same way despite there being fewer interim requests under the former president.

Kavanaugh said presidents ‘push the envelope’ more with executive orders because Congress is passing less legislation.

‘Some are lawful, some are not,’ Kavanaugh said, later adding, ‘None of us enjoy this.’

The pair spoke in a courtroom during an annual lecture honoring the late Judge Thomas Flannery of the U.S. District Court of Washington, D.C., while several federal judges, including high-profile ones like Judge James Boasberg, looked on.

Jackson’s criticism is not new; she has been perhaps the most vocal dissenter in emergency docket cases.

In August, she lambasted the Supreme Court majority for ‘lawmaking’ from the bench in a dissent to an emergency decision to temporarily allow the National Institutes of Health’s cancellation of about $738 million in grant money.

‘This is Calvinball jurisprudence with a twist. Calvinball has only one rule: There are no fixed rules. We seem to have two: that one, and this Administration always wins,’ Jackson wrote.

The Trump administration has faced hundreds of lawsuits and adverse rulings in the lower courts, and the Department of Justice’s solicitor general’s office, which represents the government before the Supreme Court, often does not elevate cases to that level.

Such emergency requests allow the government to bypass the lengthy court process, involving extensive briefings and oral arguments, to seek immediate relief in the face of restraining orders and injunctions in the lower courts.

The Trump administration has brought about 30 emergency applications to the Supreme Court and secured victories about 80% of the time, according to the Brennan Center for Justice.

Through the emergency docket, the Supreme Court has greenlit Trump’s mass firings and curtailed nationwide injunctions. The high court has also cleared the way for deportations and immigration stops viewed as controversial by critics of the administration. The justices have also found that the government can, for now, discharge transgender service members from the military.

But Trump has not won out all the time by taking this route. The justices required the administration to give more notice to alleged illegal immigrants being deported under the Alien Enemies Act and agreed with a lower court that the president improperly federalized the National Guard as part of his immigration crackdown in Chicago.


This post appeared first on FOX NEWS

President Donald Trump’s pick to lead the Department of Homeland Security (DHS) has a confirmation hearing ready to go, and he will have to reckon with an intraparty feud in the process.

Sen. Markwayne Mullin, R-Okla., will soon undergo the rigorous confirmation process in the Senate after being tapped by Trump to replace embattled DHS Secretary Kristi Noem.

He will first go through the Senate Homeland Security and Governmental Affairs Committee before heading to a full confirmation vote in the Senate.

Sen. Rand Paul, R-Ky., who chairs the Homeland Security panel, wants to hold Mullin’s hearing next week. The White House formally sent over Mullin’s nomination to the Senate on Monday, according to the congressional record.

‘We’re shooting for a week from Wednesday if all the paperwork comes in,’ Paul said.

But Mullin and Paul have a personal rift that could spill out into the confirmation hearing.

In February, Mullin slammed Paul during an event with voters for his perennial votes against Republican priorities, like spending bills or other elements of Trump’s agenda, such as the ‘big, beautiful bill’ last year.

Oklahoma reporter David Arnett reported in a lengthy profile of Mullin that, during the event, the lawmaker was asked about an amendment to a spending package from Paul that he voted against.

Mullin warned that Paul was ‘trying to kill the farm bill because he’s trying to legalize hemp for drinks in Kentucky because of tobacco industry shifts,’ and then went after Paul’s voting history before taking a jab at the 2017 incident in which the Kentucky Republican was attacked by his neighbor over a lawn dispute.

‘I respect Bernie Sanders because he’s an open socialist, and you know that he’s a communist, so you know what you’re getting,’ Mullin said. ‘Rand Paul’s a freaking snake. And I understand completely why his neighbor did what he did. And I told him that to his face.’

That slight at Paul may come to bear during his confirmation hearing, but Mullin is expected to easily move through that first hurdle, given that most Republicans on the panel will back him, and he has the support of Sen. John Fetterman, D-Pa.

Paul shrugged off the incident on Monday when he told reporters, ‘I’m going to reserve judgment now, and we’ll probably find out a lot more.’

‘I would suggest coming to the hearing, though,’ Paul said. ‘I think it’ll be interesting.’


This post appeared first on FOX NEWS

Homerun Resources Inc. (TSXV: HMR,OTC:HMRFF) (OTCQB: HMRFF) (‘Homerun’ or the ‘Company’) is pleased to announce that researchers at the University of California, Davis (‘UC Davis’), in collaboration with Homerun, have successfully produced fused silica glass from raw silica sand using a one-step thermoelectric Fast Joule Heating (‘FJH’) process. These tests demonstrate, at bench scale, that silica from Homerun’s Santa Maria Eterna (SME) Silica Sand Project can be converted directly into fused silica glass without chemical reagents, supporting the Company’s strategy to supply high-value advanced materials markets.

Building upon the prior test work completed by independent materials consultancy Dorfner Anzaplan (see news release), which confirmed that the raw SME silica sand is suitable as feedstock for fused silica production using conventional multi-step processing methods, Homerun and UC Davis specifically set out to evaluate whether that same material could be processed to fused silica glass using new, more efficient one-step thermoelectric processing techniques. The UC Davis testing has now produced fused silica glass.

The issue confronting wider adoption of high-purity fused silica across high volume traditional and novel end-uses is the limited supply and high price due to the cost of conventional processing techniques.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/4082/287929_657bcb83d4b91916_001.jpg

Figure 1. Image of the flash-joule heating process and setup. A conductive material (here carbon black) is sandwiched between graphite plugs and undergo a rapid heating process as a charged voltage is released from the capacitor. This entire setup is enclosed within a vacuum-sealed chamber, which can be purged and filled with various gases to enable controlled atmospheric environments.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4082/287929_657bcb83d4b91916_001full.jpg

Subhash Risbud, Director of the Risbud Research Group at UC Davis, stated, ‘Critical to the success of our FJH process was incorporating a conductive medium for the current to flow while yet keeping the silica powder separated. Thus, we developed a new tube-within-tube configuration in which silica is confined to the inner tube while the outer tube contains the conductive substrate (graphite). This approach helps sustain the high temperatures required for extended processing. Based on our results, the silica to fused silica glass synthesis has worked using our FJH equipment (as shown in Figure 1). Fused silica glass was achieved very rapidly after our processing peak temperature reached about 2000 C (above the 1710 C melting point of silica). These exciting new results in processing to fused silica glass using Flash Joule Heating are reported as part of the continuing collaborative research being conducted by the Risbud Research Group at UC Davis and adds to previous new laser-based techniques developed in the same lab for the purification of the SME silica sand, all under the continuing funding from Homerun.’

‘Utilizing the Fast Joule Heating method to process a raw silica sample from the Homerun SME Silica Sand Project into fused silica glass is a big step in our advanced materials development,’ stated Brian Leeners, CEO of Homerun. ‘The FJH method does not use any chemical reagents and therefore generates no polluting waste stream. If the energy source is renewable, then this is a completely green process. We chose FJH for this testing as it has been scaled utilizing off-the-shelf equipment in other critical materials processing. These techniques, after the necessary improvements, can produce fused silica glass used for medical, pharmaceutical, electronics, photonics and other similar technology and energy applications.’

The next step in the Homerun / UC Davis testing plan is to incorporate off-the-shelf equipment to begin scaling the production capacity of the fused silica glass using FJH. This testing was initiated immediately after the successful bench testing.

Fused silica tech markets are dominated by semiconductor fabrication, high-performance optics, and advanced electronics, driven by its extreme purity, thermal stability, and optical clarity. Key applications include lithography lenses, wafer substrates, fiber optics, and laser systems, with growing demand from 5G, IoT, and long-term data storage. Ultra-pure fused silica also serves as a high-performance, low-loss substrate for superconducting qubits and as a base material for silicon-based, spin-qubit quantum computers.

Nvidia recently announced a combined investment of US$4 billion into two photonics companies, Lumentum and Coherent to advance photonics technology for AI data centers. The multiyear agreements include purchase commitments and capacity access for advanced optical networking products, supporting U.S.-based manufacturing and R&D. The move targets performance and efficiency gains in AI systems by enhancing data transfer capabilities using photonics.

Photonics uses light instead of electrical signals through copper, enabling faster and more energy-efficient data transfer. Nvidia’s adoption of co-packaged optics in Spectrum and Quantum switches removes the need for pluggable modules on the switch side, cutting hardware requirements and power consumption. This technology is essential for connecting multiple AI systems or data centers over extended distances. Nvidia success could lead to direct integration of photonics into Nvidia’s GPUs, boosting AI training speed and efficiency. Alternatively, faster innovation from competitors such as Amazon or Google could challenge Nvidia’s position. Control over photonics supply might also lengthen lead times for rivals, reshaping the competitive dynamics in the optics market.

https://www.cnbc.com/2026/03/02/nvidia-investment-coherent-lumentum.html

‘NVIDIA is advancing the world’s most sophisticated silicon photonics to build the next generation of gigawatt-scale AI factories.’

NEW PATENT APPLICATION ADDED TO PATENT PORTFOLIO

Homerun also announces that a new patent application has been filed for an invention resulting under the Company’s partnership with UC Davis. The invention relates to a:

‘PROCESS FOR OBTAINING HIGH-PURITY SILICA SAND AND THE RESULTING PRODUCT.’

The invention describes a novel, environmentally friendly process for purifying silica sand to ultra-high purity levels, primarily targeting industrial applications such as semiconductors, LCDs, and optical glass. The process leverages femtosecond laser ablation, which eliminates the need for hazardous chemicals and energy-intensive mechanical methods traditionally used in silica purification.

Key Steps in the Process: Grinding, Vacuum, Laser Treatment and analysis.

Results and Advantages:

  • Purity Improvement: The analysis shows a significant reduction in impurities (Ti, Ca, Mg, Fe), with purity increasing from 99.75% to +99.99%.

  • Environmental Benefits: The process avoids hazardous chemicals and reduces energy consumption compared to conventional methods.

  • Industrial Relevance: The resulting high-purity quartz silica sand (HPQ) is suitable for demanding industrial uses.

The above UC Davis fused silica glass testing results have not been independently verified and may also be the subject of a future Homerun Patent Application.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/4082/287929_657bcb83d4b91916_002.jpg
Figure 2. Homerun’s silica value chain from extraction to advanced products, highlighting development and sales across each segment.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4082/287929_657bcb83d4b91916_002full.jpg

About Homerun

Homerun is building the silica-powered backbone of the energy transition across four focused verticals: Silica, Solar, Energy Storage, and Energy Solutions. Anchored by a unique high-purity low-iron silica resource in Bahia, Brazil, Homerun transforms raw silica into essential products and technologies that accelerate clean power adoption and deliver durable shareholder value.

  • Silica: Secure supply and processing of high-purity low-iron silica for mission-critical applications, enabling premium solar glass and advanced energy materials.

  • Solar: Development of Latin America’s first dedicated 1,000 tonne per day high-efficiency solar glass plant and the commercialization of antimony-free solar glass designed for next-generation photovoltaic performance.

  • Energy Storage: Advancement of long-duration, silica-based thermal storage systems and related technologies to decarbonize industrial heat and unlock grid flexibility.

  • ⁠Energy Solutions: AI-enabled energy management, control systems, and turnkey electrification solutions that reduce costs and optimize renewable generation for commercial and industrial customers.

With disciplined execution, strategic partnerships, and an unwavering commitment to best-in-class ESG practices, Homerun is focused on converting milestones into markets – creating a scalable, vertically integrated platform for clean energy manufacturing in the Americas.

On behalf of the Board of Directors of
Homerun Resources Inc.

‘Brian Leeners’

Brian Leeners, CEO & Director
brianleeners@gmail.com / +1 604-862-4184 (WhatsApp)

Tyler Muir, Investor Relations
info@homerunresources.com / +1 306-690-8886 (WhatsApp)

FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

The information contained herein contains ‘forward-looking statements’ within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be ‘forward-looking statements’.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/287929

News Provided by TMX Newsfile via QuoteMedia

This post appeared first on investingnews.com

Summit Royalties Ltd. (TSXV: SUM,OTC:SUMMF, OTCQB: SUMMF) (the ‘Corporation’ or ‘Summit’) announces that it has granted an aggregate of 350,000 restricted share units of the Corporation (‘RSUs’) to certain senior officers of the Corporation pursuant to its omnibus incentive plan (the ‘Plan’).

Of the 350,000 RSUs, 175,000 RSUs are scheduled to vest on March 9, 2027 and the remaining 175,000 RSUs are scheduled to vest on March 9, 2028. Once vested, each RSU represents the right to receive one common share in the capital of the Corporation per RSU held, a cash amount equivalent, or a combination thereof, in each case subject to the terms and conditions of the Plan and the applicable RSU agreement.

About Summit Royalties Ltd.

Summit Royalties Ltd. is a precious metals royalty and streaming company. Its current portfolio is anchored by cash-flowing production with additional royalties on advanced development- and exploration-stage properties. Summit’s mandate is to build its portfolio on a disciplined, per-share accretive basis through royalty and streaming acquisitions that deliver high-quality precious metals exposure and long-term cash flow growth. The Corporation has no debt and has sufficient cash on hand for future acquisitions. The Corporation’s registered office is located at One First Canadian Place, Suite 3400, Toronto, ON, M5X 1A4.

ON BEHALF OF THE BOARD OF DIRECTORS OF Summit Royalties Ltd.

Drew Clark
President and Chief Executive Officer
Summit Royalties Ltd.

For more information, contact:

Connor Pugliese, Vice President, Corporate Development
info@summit-royalties.com
+1 (289) 380-1960

Forwardlooking Statements

Certain statements contained in this news release may be deemed ‘forward‐looking statements’ within the meaning of applicable Canadian securities laws. These forward‐looking statements, by their nature, require the Corporation to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward‐looking statements. Forward‐looking statements are not guarantees of performance. Words such as ‘may’, ‘will’, ‘would’, ‘could’, ‘expect’, ‘believe’, ‘plan’, ‘anticipate’, ‘intend’, ‘estimate’, ‘continue’, or the negative or comparable terminology, as well as terms usually used in the future and the conditional, are intended to identify forward‐looking statements. Information contained in forward‐looking statements, including with respect to, the Corporation’s objectives, anticipated growth and ability to execute acquisitions that increase production and drive cash flow growth’ and the Corporation having sufficient cash on hand for future acquisitions, are based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management’s perceptions of historical trends, current conditions and expected future developments, current information available to the management of the Corporation, as well as other considerations that are believed to be appropriate in the circumstances. The Corporation considers its assumptions to be reasonable based on information currently available, but cautions the reader that its assumptions regarding future events, many of which are beyond the control of the Corporation, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect the Corporation and its businesses.

For additional information with respect to these and other factors and assumptions underlying the forward‐looking statements made in this news release concerning the Corporation, see the section entitled ‘Risks and Uncertainties’ in the most recent management discussion and analysis of Summit which is filed with the Canadian securities commissions and available electronically under the Corporation’s issuer profile on SEDAR+ (www.sedarplus.ca). The forward‐ looking statements set forth herein concerning the Corporation reflect management’s expectations as at the date of this news release and are subject to change after such date. The Corporation disclaims any intention or obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Primary Logo

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

Highlights: Dolphin Area continued infill drilling demonstrates potential for higher grade within the main resource area and at depth with notable intercepts including:

  • 2.41 g/t Au over 18.9m
  • 1.46 g/t Au over 88.4m
  • 3.09 g/t Au over 40.8m
  • 2.94 g/t Au over 58.4m

The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization.

VANCOUVER, BC, March 10, 2026 /CNW/ – Freegold Ventures Limited (‘Freegold’) (TSX: FVL,OTC:FGOVF) (OTCQX: FGOVF) is pleased to report results from six additional drill holes completed at its Golden Summit project. Of these, three were drilled in the Dolphin area and three in the Cleary area. The results from these holes continue to demonstrate robust continuity of mineralization throughout the resource area.  Notably, the Dolphin area results indicate the potential for higher-grade mineralization within the main resource zone. These results also provide further validation of the current resource model, confirming both its reliability and the potential for further growth at Golden Summit.

Freegold Logo (CNW Group/Freegold Ventures Limited)

Both the already substantial size and exploration potential of the Golden Summit project clearly indicate that multiple development strategies can be pursued. Building on the success of the 2025 program, the 2026 drill program will continue to focus on tightening drill spacing to enhance the grade of the resource estimate prior to the pre-feasibility study (PFS). In addition, geotechnical and supplementary metallurgical test holes will also be drilled. Pilot-scale testing on a sample representative of the Golden Summit deposit is complete, and a flotation concentrate has been produced from a 1,500 kg sample collected from 12 drill holes. This concentrate, which is less than 4% of the original material, will undergo additional testing to refine the preferred oxidation or treatment process and determine the most effective processing methods during the PFS. So far, the prior oxidation test work has been highly successful, showing that total gold recoveries of over 90% are achievable. Tailings from locked-cycle flotation tests using the same flowsheet as the pilot plant have been analyzed for environmental characterization, including Acid Base Accounting (ABA) and Toxicity Characteristic Leaching Procedures (TCLP).  Tailings from the flotation-based flowsheet have been classified as low risk for acid generation due to the removal of sulphur and the presence of significant amounts of calcium carbonate. More specifically, results showed the Neutralization Potential to Acid Generating Potential ratio (NPR) of the flotation tailings was significantly above what is typically classified as non-acid generating. While maximizing recovery and NAV remain the priority, the project’s substantial resource base may permit a simpler processing flow sheet, which could lower both upfront capital and operating costs. This option will also be considered.

Two drill rigs are currently in operation, and a third crew is scheduled to arrive later this week. An additional three rigs will be deployed over the next six weeks to accelerate the completion of the drill program

Dolphin Area
Drilled to continue to evaluate zones of higher grade in the central Dolphin Area, Hole GSDL2537 demonstrates strong mineralized continuity as well as increased grade intersecting 2.41 g/t Au over 18.9m as well as 1.46 g/t Au over 88.4m.              

Hole

Depth (m)

Dip (°)

Azimuth (°)

From (m)

To (m)

Interval (m)

Au (g/t)

GS2537

706.2

-90

0

82.6

90.5

7.9

1.74

114.6

120.7

6.1

6.60

172.2

191.1

18.9

2.41

249

282.6

33.6

1.36

367.9

377

9.1

1.32

386.2

412.1

25.9

0.72

471.5

559.9

88.4

1.46

641

643.4

2.4

22.06

Hole GS2542
Hole GS2542 was strategically drilled in the central portion of the Dolphin area, with the primary objective of evaluating the potential for higher-grade mineralization within the central Dolphin Zone. The results from this drill hole confirm zones of higher-grade mineralization.

Several noteworthy higher-grade intercepts were encountered in hole GS2542. These results again highlight the potential to delineate distinct zones of higher-grade mineralization within the broader resource area. Significant intercepts include:

  • 1.70 g/t Au over 48.8 metres
  • 3.09 g/t Au over 40.8 metres

The presence of these intervals supports ongoing efforts to define and expand the resource’s higher-grade components.

Hole

Depth (m)

Dip (°)

Azimuth (°)

From (m)

To (m)

Interval (m)

Au (g/t)

GS2542

773

-80

0

13.4

102.4

89.0

0.71

120.7

166.4

45.7

0.86

212.1

260.9

48.8

1.70

370.6

393.8

23.2

1.05

519.6

553.5

33.9

1.07

570.6

611.4

40.8

3.09

GS2544
Hole GS2544 was drilled vertically in the northwest Dolphin area to evaluate the depth potential towards the northwest section of the main resource.

Results were highly encouraging, intersecting higher gold grades in the northwest portion of the main deposit and to depth. Several higher-grade gold intercepts were identified in the drill core, including:

  • 2.94 g/t Au over 21.9 metres
  • 2.34 g/t Au over 23.4 metres
  • 2.94 g/t Au over 58.4 metres

Based on these promising results, further drilling is planned for the northwest Dolphin area to continue evaluating the resource potential at depth and laterally.

Hole

Depth (m)

Dip (°)

Azimuth (°)

From (m)

To (m)

Interval (m)

Au (g/t)

GS2544

598.3

-90

0

201.1

215

13.9

5.17

incl

208.5

209.8

1.3

46.53

257.5

266

8.5

1.45

273.2

295.1

21.9

2.94

321.9

344

22.1

1.09

379.2

427.5

48.3

0.85

447.6

471

23.4

2.34

507.6

566

58.4

2.94

Incl

509

510.9

1.9

44.43

Cleary Area
Three holes were drilled in the Cleary Area. Holes GS2538 and GS2543 were drilled in the north-eastern part of Cleary, aiming to fill the area to the northeast. Hole GS2539 was drilled in the western section of the Cleary area and intersected several zones of higher-grade mineralization, including 1.41 g/t Au over 45.6 m and another 2.02 g/t Au over 15.2 m. There remains significant potential for expansion within the Cleary Area, especially to the southeast and towards the newly discovered Tamarack area, which is located 400 metres to the east.

Hole

Depth (m)

Dip (°)

Azimuth (°)

From (m)

To (m)

Interval (m)

Au (g/t)

GS2538

666.5

-70

0

331.3

355.7

24.4

1.35

Hole

Depth (m)

Dip (°)

Azimuth (°)

From (m)

To (m)

Interval (m)

Au (g/t)

GS2539

718.4

-70

0

53.6

63.1

9.5

6.28

358.8

361.8

3

13.50

425.5

471.1

45.6

1.41

511.6

547.7

36.1

0.78

581.3

596.5

15.2

2.02

Hole

Depth (m)

Dip (°)

Azimuth (°)

From (m)

To (m)

Interval (m)

Au (g/t)

GS2543

529.4

-75

0

12.2

23.2

11

1.06

300.8

319.4

18.6

1.36

2025/2026 Exploration Program Objectives
The objective of the current exploration program at Golden Summit is to advance the understanding of the mineralized zones within the project area with a particular emphasis on the western and eastern extensions of the existing resource. A major focus is to identify and delineate higher-grade corridors within the mineralized zones. Locating these corridors is a key priority, as their presence is expected to positively impact the project’s economics by potentially increasing the resource grade. The exploration program also includes geotechnical drilling, further metallurgical test work, and additional supporting studies to advance the overall project.  Drilling will target the WOW, Dolphin, and Cleary Hill areas, as well as the recently discovered Tamarack zone. As the season progresses, additional drilling is planned east of the main resource zone. This ongoing work is intended to further expand and refine the resource base, supporting the continued advancement and development of the Golden Summit project. Golden Summit’s history of gold occurrences, previous placer production, and its current resource base collectively highlight the project’s potential to evolve into a district of its own within an already prolific gold-producing area.

Plan Map and Section 479050E

https://freegoldventures.com/site/assets/files/6287/sn-e479050-dh-geol-with-2531.jpg
https://freegoldventures.com/site/assets/files/6287/nr-2025-drilling-20260309.jpg

Drilling concluded in mid-December with a total of 63 holes completed. Analytical work, including cutting and sampling of the remaining drill holes, is ongoing, with further results to be reported upon validation. 19 holes remain to be reported. Since 2020, Golden Summit has grown into one of North America’s largest undeveloped gold resources through targeted drilling campaigns, model improvements, and enhanced understanding of mineralization controls. Positive metallurgical results have advanced the project, with recovery rates exceeding 90% using sulphide-oxidizing techniques, including BIOX®, POX, and the Albion Process™. The GlassLock Process™ has also been tested, increasing the gold grade in the concentrate and reducing arsenic content, enabling direct-to-smelter sales.

As of July 2025, Golden Summit resources include an Indicated Primary Mineral Resource of 17.2 million ounces at 1.24 g/t Au and an Inferred Primary Mineral Resource of 11.9 million ounces at 1.04 g/t Au, using a 0.5 g/t cut-off grade and a gold price of $2,490. Ongoing cutting, sampling, and analytical work support an updated mineral resource estimate, which will incorporated into the upcoming Pre-Feasibility Study (PFS).

Analytical Program and QA/QC
HQ Core is logged, photographed and cut in half using a diamond saw, and one-half is placed in sealed bags for preparation and subsequent geochemical analysis by ALS’s facilities in Vancouver and Thunder Bay. Core samples were delivered to ALS’s facility in Vancouver, Canada, where each sample was crushed to 70% passing a 2 mm (Tyler 9 mesh, U.S. Std. No. 10) screen.  A representative ~500 g subsample was obtained by riffle splitting (SPL-32a) and analyzed for gold using ALS method Au-PA01, (Photon Assay) which provides a detection range of 0.03 to 350 ppm, in Thunder Bay. In addition, a subsample was analyzed for multi-element geochemistry using ALS method ME-ICP61 (34-element, four-acid ICP-AES).

A QA/QC program includes laboratory and field standards inserted every ten samples. Blanks are inserted at the start of the submittal, and at least one blank every 25 standards.

Qualified Person and Disclosure
Alvin Jackson, P.Geo., Vice President of Exploration and Development for Freegold, is the Qualified Person responsible for the scientific and technical disclosure in this release.

About Freegold Ventures Limited
Freegold is a TSX-listed company focused on exploration activities in Alaska.

For further information, contact
Kristina Walcott, President and CEO, 
at 1.604.662.7307 
or jkw@freegoldventures.com.

This press release contains statements that constitute ‘forward-looking information’ (collectively, ‘forward-looking statements‘) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this press release, include, without limitation, statements regarding advancing the Golden Summit Project and other exploration plans and results of any drill programs, statements regarding the timing for and expected completion of a pre-feasibility study, the results of any environmental initiatives or metallurgical testing and any development, or drilling. In making the forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: availability of financing; delay or failure to receive required permits or regulatory approvals; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. See Freegold’s Annual Information Form for the year ended December 31, 2024, filed under Freegold’s profile at www.sedarplus.com, for a detailed discussion of the risk factors associated with Freegold’s operations.

SOURCE Freegold Ventures Limited

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2026/10/c6382.html

News Provided by Canada Newswire via QuoteMedia

This post appeared first on investingnews.com