-- Volta Metals (VLTA.CN) received approval for funding of up to $215,000 under the Ontario Junior Exploration Program (OJEP), said the company on Monday.
The funding is for eligible exploration expenditures incurred in 2025 and the first two months of 2026 at the company's 4,750-hectare Springer Rare Earth Element (REE) and Gallium Project, located approximately 70 km east of Sudbury, Ontario, the company said.
The $215,000 received is the maximum OJEP grant per project, which covers up to 50% of eligible mineral exploration expenditures incurred in Ontario during the 2025 and early 2026 field season, said the company and added that this funding has enabled Volta to expand its exploration program at the Springer REE Deposit and advance both drilling and geophysical programs targeting rare earth and gallium mineralization.
"This grant from the Government of Ontario represents a strong endorsement of the Springer REE Project and the significant progress our team has made over the past year," said Chief Executive Officer, Kerem Usenmez. "The OJEP funding helps reduce exploration risk and allows us to advance more aggressive field programs without the need for additional shareholder dilution at this stage.
Shares of the company were last seen down $0.005 to $0.185 on the Canadian Securities Exchange.
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