GT Resources Receives 10-Year, Class III Exploration Permit for the Canalask Copper - Nickel Project, Yukon
Rhea-AI Summary
GT Resources (OTCQB: CGTRF) has received a 10-year Class III Exploration Permit for its road-accessible Canalask copper-nickel project in the Yukon. The permit, applied for in January 2023, allows expanded exploration activities, including construction of new trails to access additional drill targets.
According to GT Resources, a 2024 drill hole (CSK24-05) in the Footwall Zone returned 33.5 meters near surface grading 1.95% nickel, 0.05% copper, 0.03% cobalt, 0.19 g/t gold and 0.44 g/t palladium, plus a separate copper-gold skarn intersection of up to 2.4% Cu and 3.1 g/t Au over 1.0 meter. The company highlights Canalask’s setting within the White River Intrusive Complex and Kluane Mafic-Ultramafic Belt and notes there is only a historical, non-current resource estimate on the Main (Footwall) Zone.
Positive
- 10-year Class III exploration permit secured for Canalask, enabling expanded work and new access trails
- 33.5 m near-surface intersection grading 1.95% Ni plus by-product metals in 2024 drilling
- High-grade skarn interval up to 2.4% Cu and 3.1 g/t Au over 1.0 m at Canalask
Negative
- Canalask Main Zone still supported only by a historical 400,000 t at 1.35% Ni estimate, not a current NI 43-101 resource
AI-generated analysis. How Rhea-AI works. Not financial advice.
Toronto, Ontario--(Newsfile Corp. - July 27, 2026) - GT Resources Inc. (TSXV: GT) (OTCQB: CGTRF) (FSE: 7N1) the ("Company" or "GT") is pleased to announce it has received a Class III Exploration Permit, which is valid for 10-years, for the road accessible Canalask Copper - Nickel Project in the Yukon (the "Property" or "Canalask") (Figure 1).
In 2024, the Company undertook a drill program at Canalask which returned
The Canalask Project is located in the Whitehorse Mining District, approximately 320 km west of Whitehorse and is road accessible from the Alaska Highway near Beaver Creek, Yukon. The Property hosts the "White River Intrusive Complex" ("WRIC") which in turn forms part of the Kluane Mafic-Ultramafic Belt which includes nickel - copper deposits such as Nickel Shaw, owned by Nickel Creek Platinum and which hosts a NI 43-101 measured and indicated resource of 323 million tonnes grading
Exploration Targets
The WRIC is a favourable setting for magmatic copper & nickel sulphide mineralization and is considered a "feeder system" with a high volume of magma flow. Due to the abundance of magmatic Ni-Cu-PGE showings at the base of the WRIC and the discovery of the nickel-rich Canalask footwall deposit, the project hosts strong potential for both "magmatic feeder-type" basal deposits and "epigenetic footwall-type" footwall deposits. The geological setting draws comparison to the world-class Norilsk Ni-Cu-PGE camp.
The Project also possesses copper-gold skarn-style mineralization with drill intersection of up to
1. see Historical Resource Estimate disclaimer below
Figure 1. Location map of Canalask project, 2024 drill program (yellow dots), background is total field magnetics.
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Disclaimer - Historical Resource Estimate - Canalask
Readers are cautioned that the Company has not attempted to verify historic mineral resource estimates and therefore readers should not place any reliance on any historical estimate. A qualified person has not done sufficient work to classify a historical estimate as a current mineral resource, additionally, a qualified person has not yet determined what work needs to be done to upgrade or verify the historical estimate as a current mineral resources or mineral reserves. The Company is not treating the historical estimate as a current mineral resources.
The Historical Resource Estimate on the Main Zone (also referred to as the Footwall Zone) of the Canalask Project is quoted at 400,000 tonnes at
Qualified PersonThe technical information in this release has been reviewed and approved by Neil Pettigrew, M.Sc., P.Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43-101.
About GT Resources
GT Resources Inc. (TSXV: GT) (OTCQB: CGTRF) (FSE: 7N1) is a mineral exploration company focused on the discovery and de-risking of district-scale assets in top tier mining jurisdictions. The Company's strategy is driven by a disciplined, science-based methodology designed to create shareholder value by advancing high-potential properties toward production within robust regulatory frameworks.
In Finland, the Company is advancing its flagship Läntinen Koillismaa ("LK") Project, which hosts significant mineral resources including palladium, platinum, gold, copper, and nickel. In Canada, GT maintains a portfolio of earlier-stage, pre-resource projects targeting critical and precious metals. The quality and scale of the Company's project portfolio has attracted strategic investment from Glencore plc, one of the world's largest diversified natural resource companies.
Follow GT Resources on LinkedIn, Twitter, and at https://gtresourcesinc.com/.
ON BEHALF OF THE BOARD
"Derrick Weyrauch"
President & CEO, Director
For further information contact:
Derrick Weyrauch, President & CEO or Neil Pettigrew, Vice President Exploration
Email: info@GTResourcesinc.com
Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of GT Resources Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.
Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in mineral and commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and the impact of governmental entities. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
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