Volta Commences Definition Drilling and Resource Expansion Program at the Springer REE Project in Ontario, Canada

Core Viewpoint - Volta Metals Ltd. has initiated its fully funded second-phase winter drill program at the Springer Rare Earth Deposit in Ontario, aiming to expand known mineralization and advance the property towards development [1][3]. Group 1: Drill Program Details - The second-phase drill program is designed to expand mineralization, increase confidence in the rare earth system, and generate geotechnical and geometallurgical data for a planned Preliminary Economic Assessment in 2026 [2][3]. - The program will consist of 16 diamond drill holes totaling approximately 5,750 meters, with completion scheduled for Q1-2026 [6][7]. - The drilling aims to infill historic drilling to 50m spacing, expand mineralization along strike and depth, and collect critical geological data [7][8]. Group 2: Phase 1 Drill Review - The Phase 1 drill program included four diamond drill holes totaling 1,638 meters, confirming extensions of REE mineralization at depth and along strike [8][9]. - All boreholes intersected continuous REE mineralization, with thicknesses ranging from 283m to 438m and Total Rare Earth Oxides (TREO) grades between 0.65% and 0.95% [9][10]. - Notably, borehole SL25-24 returned a high-grade Dysprosium and Terbium oxide interval averaging 184.04 g/t Dy₂O₃ + Tb₂O₃ over 27.1m, highlighting the potential for high-value heavy rare earth elements [11]. Group 3: Resource Estimates - The historical mineral resource estimate from 2012 indicates an Indicated Resource of 4.2 million tonnes at 1.14% TREO and an Inferred Resource of 12.7 million tonnes at 1.17% TREO [22]. - Approximately 6% of the TREO in the Indicated Resource is made up of Heavy Rare Earth Oxides (HREO), while 4% in the Inferred Resource consists of HREOs [22][24]. Group 4: Project Location and Infrastructure - The Springer REE project spans approximately 5,139 hectares and is located north of Sturgeon Falls, Ontario, about 70 km from the Sudbury mining district [18][20]. - The property benefits from excellent infrastructure, including access via the Trans-Canada Highway and proximity to power generation facilities [20].