Metal Energy Mobilizes Second Drill Rig to Accelerate Drilling at Its NIV Copper-Gold Project
Metal Energy has doubled drilling capacity at its NIV project, advancing a 6,000‑metre first-ever program that is fully funded for 2026.
Rhea-AI Summary
Metal Energy (MEEEF) has mobilized a second diamond drill rig to its NIV copper-gold project in British Columbia, doubling drilling capacity for the remaining approximately four weeks of the 2026 season.
Drilling is on schedule, with six holes totalling about 4,200 metres completed toward the planned 6,000 metres. The added rig will accelerate follow-up on the most promising holes and targets and help more fully test the roughly 5-kilometre strike length of the NIV system. Assay results will be released as they are received, reviewed, compiled and interpreted.
NIV is a fully permitted, drill-ready copper-gold-molybdenum project covering more than 12,500 hectares, and this 2026 campaign is its first-ever drill program. Metal Energy reports a treasury of over $9 million, stating it is fully funded for its 2026 exploration programs.
Positive
- Second drill rig mobilized, doubling drilling capacity for the remaining ~4 weeks of the 2026 NIV season
- ~4,200 metres completed across six holes toward the planned 6,000‑metre 2026 NIV drill program
- Treasury over $9 million, with the company stating it is fully funded for its 2026 exploration programs
- Fully permitted, drill-ready NIV project spans more than 12,500 hectares in British Columbia’s Toodoggone District
Negative
- The NIV Project currently has no mineral resource or mineral reserve estimate prepared in accordance with NI 43-101
- The company cautions there is no assurance that drilling will result in the discovery of a mineral deposit at NIV
- Soil geochemical, Induced Polarization and airborne magnetic anomalies at NIV are described as exploration targets only, not evidence of mineralization or grade
AI-generated analysis. How Rhea-AI works. Not financial advice.
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
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 ColumbiaHighland Valley Project (Cu-Mo-Ag-Au-Re,
100% owned), British ColumbiaManibridge 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 | info@oregroup.ca | 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