FINWIRES · TerminalLIVE
FINWIRES

Errington Metals Completes Balfour Exploration Program

By

Errington Metals (EM.V) on Wednesday provided an update on its 2025-2026 exploration program at the Balfour mineralized zone, part of its wholly owned Sudbury Basin Project.

The winter program was designed to validate and refine the geometry of known mineralized zones and advance the company's 3D geological model in support of a planned mineral resource estimate, said the company.

The Balfour area represents a new opportunity for resource growth, as it was not previously included in the historic mineral resource estimate, it stated.

Among highlights the company said it completed 48 diamond drill holes for a total of 13,480 metres during the 2025/2026 program at Balfour. It integrated drilling, historic data and airborne geophysical interpretations into a refined 3D geological model to support future drill targeting and resource work, it stated and added that it confirmed continuity of mineralization along strike and at depth across the Main, West and North zones, based on geological logging and visual interpretation, with 2026 assays pending.

Step out drilling confirmed extensions to mineralized shapes and the mineralized shapes remain open both down dip and along strike, it added.

"The Balfour program highlights the potential scale and growth of our Sudbury Basin Project," said Matthew Gollat, President and Chief Executive Officer of EM. "The Balfour area did not receive much attention previously with mineralized zones open in all directions. Our 2025 and 2026 drilling has improved confidence in the continuity of mineralization, refined our understanding of key structural controls, and materially advanced the geological framework required for resource development. We believe this work positions us well as we move toward a planned mineral resource estimate and continue to unlock value across the district."

Shares in EM were up $0.08 or 2.9% to $2.85 in Canada yesterday.

Related Articles

Mining & Metals

Brookfield Corporation, Brookfield Wealth Solutions Boards Approve Corporate Simplification Plan

Brookfield Corporation (BN.TO) and Brookfield Wealth Solutions (BWS) after trade Tuesday said their boards have approved the plan to simplify their corporate structure by combining under one publicly traded company, Brookfield Corporation Ltd.The new company will trade on the New York and Toronto exchanges under the symbol "BN," they added.Under the deal, all BN class A limited voting shares and BWS class A exchangeable limited voting shares will be exchanged on a one-for-one basis for shares in the new company. The transaction will be completed through a court-approved plan of arrangement and will require approval from shareholders of both BN and BWS and is set to be completed on a tax-deferred basis for U.S. and Canadian shareholders."Management information circulars of BN and BWS will be filed with applicable securities regulators, providing full details of the transaction and the matters contemplated therein will be voted on at the 2026 annual general meetings of BN and BWS, both to be held on July 16 as approved by the TSX," the companies said.After the transaction is completed, Brookfield Corporation Ltd. is expected to pay a quarterly distribution equal to the current distributions paid by BN and BWS. The deal remains subject to customary conditions and regulatory approvals and is expected to close by the end of the year.

$BN.TO
Mining & Metals

Sun Life Financial Brief: Receive Exchange and ODFI Approval to Repurchase and Cancel Up to 10-Million Shares over 12 Months Through a Normal-Course Issuer Bid

$SLF$SLF.TO
Mining & Metals

TeraGo Says It Welcomes Canada's New mmWave Spectrum Framework

TeraGo (TGO.TO) after trade Tuesday said it welcomes the Canadian government's new Policy and Licensing Framework for the 26 gigahertz (GHz) and 38 GHz spectrum bands."The framework provides visibility into the long-term spectrum environment while supporting the continued development of important fixed wireless and enterprise connectivity use cases. The transition path for existing licensees enables continued service delivery to customers while providing flexibility to evolve our network over time," Chief Executive Daniel Vucinic said.The framework was released by Innovation, Science and Economic Development Canada (ISED). Existing license holders that meet the new conditions will be allowed to convert their licenses to flexible-use licenses as part of the broader licensing process, the company said.The spectrum auction is expected to begin in October 2027, with licenses issued after the auction is completed. Current fixed service licenses will remain valid until March 31, 2029, giving companies several years to transition, according to the statement.TeraGo said it will continue reviewing the impact of the decisions and will take part in the transition process according to ISED's timelines and requirements.The company's shares closed down$0.02 to $1.30 on the Toronto Stock Exchange.

$TGO.TO