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Total Metals commences Exploration Drilling on its Critical Minerals Electrolode Project - Red Lake, Ontario
Thenewswire· 2026-01-29 12:05
Core Viewpoint - Total Metals Corp. has initiated diamond drilling at its Electrolode critical minerals exploration project in Red Lake, Ontario, targeting high-potential mineral resources, including copper and gold [1][9]. Group 1: Exploration Program - The drill program will consist of a minimum of 5,500 meters aimed at confirming and expanding historic results, testing electromagnetic conductors, and assessing metal ratios for higher value copper-gold mineralization [2]. - The first phase targets the Arrow Zone and adjacent Garnet Zone, with plans to explore a 6-kilometer trend of discontinuous EM conductors [3]. - A complex fold pattern in the southwest area of the property, identified through 3D inversion modeling, suggests potential for higher copper grades and exploration opportunities [4]. Group 2: Resource and Target Assessment - The company considers historic resources as indicative of potential higher copper grades, with exploration focusing on structurally modified areas such as fold hinges [4]. - High-grade gold values have been documented in the D zone, with ongoing testing to determine the nature of these gold occurrences [4]. - The results from the current drill program will be crucial for prioritizing future exploration efforts aimed at resource expansion [4]. Group 3: Marketing and Financial Engagement - Total Metals has engaged i2i Marketing Group LLC for a one-month media services agreement, with a total consideration of US$250,000 for marketing services [5]. - The agreement can be extended on a month-to-month basis for the same amount, subject to TSX Venture Exchange approval [5]. - The company has granted 1,162,000 Restricted Stock Units (RSUs) to directors, officers, and consultants, which will vest in 12 months [8]. Group 4: Company Overview - Total Metals Corp. owns the Electrolode Project, covering over 3,300 hectares in northwestern Ontario, targeting critical minerals and gold resources near major mining operations [9]. - The project is fully permitted for exploration drilling and includes 10 historic mineralized zones with significant expansion potential [9]. - The company also owns the High Lake and West Hawk Lake Projects, covering 958 hectares along the Manitoba/Ontario border, with significant exploration potential in the Purex Zone [9].