Bitterroot Resources Awarded US$5.22 Million by the US Dept of War for the LM Nickel-Copper Exploration Project, Michigan
US DPA Title III funding supports Bitterroot’s LM nickel-copper project, sharing exploration costs and enabling deeper drilling from late 2026.
Rhea-AI Summary
Bitterroot Resources (BITTF) has been awarded up to US$5,223,431 in Defense Production Act Title III funding from the U.S. Department of War for the LM nickel-copper exploration project in Michigan.
The funds go to subsidiary Trans Superior Resources on a 50/50 cost-share basis and will cover exploratory drilling, geophysical and geochemical surveys, permitting and related costs on the LM Project, where Trans Superior is operator with a 51% interest and Below Exploration holds the balance. The company said the non-dilutive funding will lower its cost of capital and support resumption of an aggressive drilling program targeting the LM magma conduit at 400–700 metres depth, with a planned 15–20 core holes of 500–700 metres each starting in Q4 2026.
Positive
- Up to US$5.22 million in DPA Title III funding for LM Project
- 50/50 cost-share structure reduces Bitterroot’s direct exploration cash outlay
- Non-dilutive funding improves project financing without issuing new equity
- Operator holds 51% interest in LM Project via Trans Superior Resources
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
WEST VANCOUVER, BC / ACCESS Newswire / September 15, 2026 / The U.S. Department of War has invested up to US
Trans Superior Resources, Inc. is the LM Project operator, owning
Michael Carr, CEO of Bitterroot and Trans Superior commented: "The Department of War's DPA Title III funds are a significant investment in our shared goal to locate a high-grade domestic source of nickel. The non-dilutive funds will reduce our cost of capital and allow the LM Project partners to finance and resume an aggressive drilling program on the highly prospective LM magma conduit."
The LM Project is located within the Upper Peninsula of Michigan's Baraga Basin, which hosts the only nickel mine in the USA, Talon Metals' Eagle Mine. The Baraga Basin is highly prospective for discovery of additional high-grade, magmatic conduit-hosted nickel-copper deposits. Previous drilling by Bitterroot and Below on the LM Property (7,565 metres in 26 core holes, to a depth of 300 metres) has defined a magma conduit that hosts disseminated, semi-massive and/or massive sulphide nickel-copper-PGM mineralization of high metal tenor in 10 of 26 holes. Drill intervals and photographs of the mineralization are available at www.bitterrootresources.com.
The DPA Title III funding will be used to explore the most prospective and untested part of the LM conduit, in the 400-700 metres depth range. In the fourth quarter of 2026, Trans Superior's management plans to initiate a drilling program consisting of approximately 15-20, 500-700-metre-long core holes on the LM Project. Drilling will follow the LM conduit down from its deepest known point to successively deeper levels. During drilling, borehole electromagnetic (BHEM) and other geophysical surveys will help vector towards potential accumulations of Ni/Cu massive sulphides. The primary objective is to locate the source of high-grade Ni/Cu massive sulphide rip-up clasts seen in the previous drilling. The LM conduit and other nearby targets are potentially very high value, making them viable targets for rapid development of domestic US nickel and copper resources.
Mr. Jeff Rowe, P.Geo, is the Qualified Person responsible for the technical content of this disclosure.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael S. Carr
CEO and Director
Contact: tel. 604 922 1351
infoman@bitterrootresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects" or "it is expected", or variations of such words and phrases or statements that certain actions, events or results "will" occur. This document contains statements about expected or anticipated future events and/or financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, regulatory processes and actions, technical issues, new legislation, competitive conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events and the company's ability to execute and implement its future plans. Actual events may differ materially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws. For such forward-looking statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.
SOURCE: Bitterroot Resources Ltd.
View the original press release on ACCESS Newswire
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How will the U.S. Department of War funding for the LM Project be used?
The funding will cover, on a 50/50 cost-share basis, exploratory drilling, geophysical and geochemical surveys, permitting and associated costs, including labour, equipment, travel and other direct expenses on the LM nickel-copper exploration project.
What exploration work is planned on the LM Project with this funding?
In Q4 2026, Trans Superior’s management plans a drilling program of about 15–20 core holes, each 500–700 metres long, to follow the LM conduit from its deepest known point to successively deeper levels. Borehole electromagnetic and other geophysical surveys will be run during drilling.
What is the primary exploration objective at the LM nickel-copper project?
The primary objective is to locate the source of high-grade Ni/Cu massive sulphide rip-up clasts intersected in previous drilling, by testing the most prospective and untested part of the LM conduit at 400–700 metres depth.
What prior drilling results exist on the LM Property?
Previous work by Bitterroot and Below comprised 7,565 metres in 26 core holes to 300 metres depth, defining a magma conduit that hosts disseminated, semi-massive and/or massive sulphide nickel-copper-PGM mineralization of high metal tenor in 10 of 26 holes.