V Ten Metals Provides Update on Drill Program at the Tanami Property, NT, Australia
A received $115,000 grant, inclusive of GST, will partially fund the drilling assessment at EL23875.
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Rhea-AI Summary
V Ten Metals (VTNMF) has completed reverse circulation drilling and plans additional diamond core drilling at its Tanami Property in Australia.
Unexpected subsurface water created wet-ground challenges during the completed program. The drilling contractor is reconfiguring the rig for diamond core drilling, with drilling scheduled to restart later in October 2026. This method uses water rather than compressed air; the company expects technically superior core samples compared with the chips collected through reverse circulation drilling.
A received grant of $115,000, inclusive of GST, from the Northern Territory Department of Mining's Geophysics and Drilling Collaborations program will partially fund the work at exploration license EL23875.
Positive
- Minor pointReverse circulation drilling completed at the Tanami Property in Australia's Northern Territory.
- Minor point. Forward-looking: it has not happened yet and may not happen.Additional diamond core drilling planned, with drilling scheduled to restart later in October 2026.
- Minor point$115,000 grant received, inclusive of GST, will partially fund the work program at EL23875.
Negative
- Minor pointUnexpected subsurface water created wet-ground challenges during the reverse circulation drilling program.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - October 1, 2026) - V Ten Metals Corp. (TSXV: VTEN) (OTCQB: VTNMF) ("VTen" or the "Company") is pleased to announce it has completed the Reverse Circulation ("RC") drilling and will be undertaking additional diamond core drilling at the Company's Tanami Property (the "Property"), located in the Tanami District of the Northern Territory, Australia. The Property consists of four semi-contiguous granted exploration licenses ("ELs") EL 23848, EL 31402, EL 23874 and EL 23875, covering 1,237 sq km located in the Tanami Desert approximately 450km directly northwest of Alice Springs, Northern Territory, Australia.
The Company elected to undertake RC drilling because of the typically dry ground conditions in the Tanami desert. The discovery of subsurface water during the RC drill program created some challenges in completing the RC program due to the wet ground conditions but the presence of water created an opportunity to advance the drill program with diamond core drilling. Diamond core drilling utilizes water for drilling rather than compressed air which is used for RC Drilling. Diamond drilling will provide a core sample that is technically superior to the RC drilling chip samples. The drilling company is reconfiguring the rig for diamond core drilling and will restart the drilling later this month.
Blair Way, Company President and Director, comments: "The RC drilling was the right approach and went as well as expected given the ground conditions encountered. The unexpected discovery of subsurface water presented an opportunity to use the water for diamond core drilling to gain better drill hole samples to provide a deeper understanding of the targets."
Partial funding for this works program at EL23875 will be through utilization of the grant of
Qualified Person
D. Blair Way, B.Sc., P. Geo., CEO and President for the Company and Qualified Person as defined by National Instrument 43-101, approved and supervised the preparation of the technical information in this news release.
About V Ten Metals Corp.
VTen is a Canadian mining exploration company listed on the TSX Venture Exchange owns the Ni-Cu-PGE-Au Tanami Project, 1,237 km² strategically located adjacent to Newmont's Granites Mine located in Northern Territory, Australia. The company has a farm-in JV in place exploring for potential gold targets. VTen is led by a highly qualified team with a track record of successful exploration worldwide.
FOR FURTHER INFORMATION, PLEASE CONTACT:
D Blair Way, CEO, President and Director
Telephone: +1 (800) 482-7560 (Main); +1 (800) 482-7560 (Other – Toll Free)
E-mail: info@vtenmetals.com
Cautionary Notes
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and United States legislation. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, any statements or plans regarding the Agreement, the anticipated benefits of the Agreement, and any other matters in connection with the aforementioned items. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, but are not limited to, the risk that the Company may not be able to execute and raise funds necessary to complete its planned future activities and proposed business plans.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) 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/316877
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When will V Ten Metals restart drilling at the Tanami Property?
Drilling is scheduled to restart later in October 2026, after the contractor reconfigures the rig for diamond core drilling.
How much grant funding did V Ten Metals receive for Tanami drilling?
V Ten Metals received $115,000, inclusive of GST, from the Northern Territory Department of Mining's Geophysics and Drilling Collaborations program. The grant will partially fund the work program at exploration license EL23875.