Metal Energy Mobilizes Second Drill Rig to Accelerate Drilling at Its NIV Copper-Gold Project
Metal Energy Mobilizes Second Drill Rig to
Accelerate Drilling at Its NIV Copper-Gold
Project
Highlights:
Second diamond drill rig now turning at the NIV copper-gold project in British Columbia's
Toodoggone District, doubling drilling capacity for the remaining ~4 weeks of the 2026 season
Six holes totalling ~4,200 metres already completed toward the planned 6,000 metres, with the
program on schedule and the flexibility to drill more this season
Added rig will accelerate follow-up drilling on the program's most promising holes and targets, and
more fully test the 5-kilometre strike length of the NIV system
A more complete drill test this season positions the Company for an expanded drill program at NIV
in 2027; assay results to be released as received, reviewed, compiled and interpreted
Toronto, Ontario--(Newsfile Corp. - September 3, 2026) - Metal Energy Corp. (TSXV: MERG) (OTCQB:
MEEEF) ("Metal Energy" or the "Company") is pleased to announce that a second diamond drill rig has
been mobilized to, and is now drilling at, its NIV copper-gold project in the Toodoggone District of British
Columbia.
Drilling is proceeding on schedule, and the Company now has an additional rig to maximize the metres it
can complete during the drill season and to accelerate follow-up drilling on its most promising holes and
targets. Six holes totalling approximately 4,200 metres have been completed in the program to date.
"The second rig lets us follow up on our best holes, more fully test the impressive 5 km length of the NIV
system, and put as many metres into the ground as possible this season," said Charlie Greig, CEO of
Metal Energy. "It will also allow for a more thorough drill test and set Metal Energy up well for an
expanded program at NIV in 2027."
Assay results will be released as they are received, reviewed, compiled and interpreted.
View Plan Map of Completed and Planned NIV Drill Holes
Qualified Person
The technical information contained in this news release has been reviewed and approved by C.J.
"Charlie" Greig, P.Geo., CEO of Metal Energy Corp., and a Qualified Person as defined in National
Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Greig is not independent of the
Company.
About Metal Energy Corp.
Metal Energy Corp. is a critical metals exploration company focused on copper and gold assets in
Canada. The Company's flagship asset, NIV, is a fully permitted and drill-ready copper-gold-
molybdenum project located in British Columbia's prolific Toodoggone District, a region known for both
significant porphyry copper-gold and epithermal gold-silver deposits. Drilling at NIV commenced on June
29, 2026, marking the start of a 6,000-metre program at what the Company considers to be one of the
most prospective undrilled copper-gold porphyry projects in British Columbia. This 2026 program is the
first-ever drill campaign at NIV, which hosts extensive and coincident soil geochemical, Induced
Polarization (IP), and airborne magnetic anomalies, all in a favourable geological setting. The
Company's Highland Valley Project is a second permitted, drill-ready asset, offering investors additional
discovery upside and further exposure to copper.
Metal Energy is supported by two major mining companies, each a 9.9% strategic investor (
view news
release here
), giving the Company a treasury of over $9 million and leaving it fully funded for its 2026
exploration programs.
Readers are cautioned that mineralization, exploration results, mines, deposits or projects on
properties adjacent to or proximate to the NIV Project, including the Kemess mine complex, the
Aurora discovery, the Greater Shasta-Newberry property and the Kliyul and RDP projects, are not
necessarily indicative of mineralization on the NIV Project, and the Company has no interest in or
right to acquire any interest in those properties. The NIV Project does not host a mineral resource or
mineral reserve estimate prepared in accordance with National Instrument 43-101. The Company's
Qualified Person has not verified, and the Company is not relying upon, information disclosed by the
owners or operators of those adjacent or proximate properties. Readers are further cautioned that the
soil geochemical, Induced Polarization and airborne magnetic anomalies at the NIV Project are
exploration targets only and are not necessarily indicative of the presence, continuity, extent or grade
of mineralization, and that there is no assurance that drilling will result in the discovery of a mineral
deposit.
Metal Energy's portfolio includes three high-potential projects:
NIV Project (Cu-Au-Mo, 100% controlled), Toodoggone District, British Columbia
Highland Valley Project (Cu-Mo-Ag-Au-Re, 100% owned), British Columbia
Manibridge Project (Ni-Cu-Co-PGE, 85% owned), Manitoba
Overview of Metal Energy's Flagship Project, NIV, and the Greater Toodoggone District
The NIV Property, which began its initial drill program in June (
view news release here
), spans more
than 12,500 hectares across two claim blocks, NIV (1,048 ha) and West NIV (11,500 ha), located 32 km
south of Centerra Gold's Kemess mine complex. NIV is largely underlain by the same Triassic-Jurassic
geology that to the north hosts both the nearby Kemess copper-gold porphyry deposits and Amarc
Resources' Aurora discovery, which extends onto TDG Gold's adjacent Greater Shasta-Newberry
property. To the south, similar geology hosts Pacific Ridge's nearby Kliyul and RDP projects. Although
exploration at NIV is documented as far back as the 1960s, little work was done prior to staking in 2010,
and modern geochemical and geophysical techniques have only been applied sporadically since.
Neither the NIV nor the West NIV block has been drill-tested prior to this program.
For Further Information
Metal Energy Corp.
Suite 1102, 141 Adelaide Street West, Toronto, ON M5H 3L5
416.644.1567 |
|
www.metalenergy.ca
Reader Advisory
Certain information set forth in this news release constitutes forward-looking statements or information
("forward-looking statements"). Forward-looking statements in this news release include, but are not
limited to, statements regarding the 2026 drill program at NIV including its size, cost, timing, duration
and targets, the expected number of additional weeks of drilling, the expected timing of assay results
and other exploration catalysts, the Company's view of the prospectivity of the NIV Project and its
potential to host a discovery, any comparison drawn to other projects, properties or companies, the
potential for an expanded drill program at NIV in 2027, the option to increase the total metreage
drilled in 2026, the Company's treasury and its expectation that it is fully funded for its 2026
exploration programs, and other matters ancillary or incidental to the foregoing. By their nature,
forward-looking statements are subject to numerous risks and uncertainties, some of which are
beyond Metal Energy's control, including the impact of general economic conditions, industry
conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks,
adverse weather, snowpack, wildfire and other seasonal or access constraints, the availability and
performance of drilling equipment, contractors and qualified personnel, assay laboratory turnaround
times, the ability to obtain and maintain required permits and approvals, the ability to raise additional
financing on acceptable terms, the risk that exploration and drilling do not result in the discovery of a
mineral deposit, competition from other industry participants, and stock market volatility. Although the
Company believes that the expectations in its forward-looking statements are reasonable, its forward-
looking statements have been based on factors and assumptions concerning future events which may
prove to be inaccurate. Those factors and assumptions are based upon currently available
information. Those assumptions include that drilling will proceed substantially as planned for the
balance of the 2026 season; that weather, ground and access conditions will permit continued drilling;
that drill rigs, contractors, personnel and assay laboratory capacity will remain available on
reasonable terms; that required permits and approvals will remain in good standing; and that the
Company will have sufficient funds to complete its planned programs. Such statements are subject to
known and unknown risks, uncertainties and other factors that could influence actual results or events
and cause actual results or events to differ materially from those stated, anticipated or implied in the
forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the
forward-looking statements, as no assurance can be provided as to future results, levels of activity or
achievements. Risks, uncertainties, material assumptions and other factors that could affect actual
results are discussed in Metal Energy's public disclosure documents available at
www.sedarplus.ca
.
Furthermore, the forward-looking statements contained in this document are made as of the date of
this document and, except as required by applicable law, Metal Energy does not undertake any
obligation to publicly update or to revise any of the included forward-looking statements, whether as a
result of new information, future events or otherwise. The forward-looking statements contained in this
document are expressly qualified by this cautionary statement.
Neither 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
release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/312647