Go Metals Corp. (CSE: GOCO) has announced that option partner Eureka Metals Corp. has commenced diamond drilling at the KM98 Project, located approximately 60 kilometres north of Havre-Saint-Pierre, Québec. The maiden drill program targets magnetic and conductive anomalies at the Hook Target, representing the first time the project has been tested at depth. The development marks a significant milestone for Go Metals, which retains a 20% participating interest should Eureka complete its earn-in of up to 80% in the project.

Key Points

  • Go Metals Corp. (CSE: GOCO) announced commencement of the maiden drill program at its KM98 Project in Québec
  • Option partner Eureka Metals Corp. is operating and fully funding the drill program, conducted by IOS Geosciences
  • Eight holes planned from four approved drill sites, targeting depths of up to 200 metres along an approximately five-kilometre trend
  • Investors will be watching for drill results testing titanium-bearing oxide mineralization potential at depth

Hook Target Drilling Tests Five-Kilometre Titanium Trend at KM98

The drill program at KM98's Hook Target consists of eight holes planned from four approved drill sites, reaching depths of up to 200 metres. The program is designed to test previously undrilled magnetic and conductive anomalies along an approximately five-kilometre prospective trend. Earlier exploration work at the project identified massive and semi-massive titanium-bearing oxide mineralization at surface. Drilling will evaluate whether that mineralization extends to depth and assess the continuity of the broader mineralised system, the company's announcement states.

Eureka Metals Option Structure and Go Metals' Retained Interest

Under the existing option agreement, Eureka Metals holds an option to earn up to an 80% interest in KM98 from Go Metals. Eureka is responsible for operating and financing the current drill campaign, with IOS Geosciences engaged to carry out the work on Eureka's behalf. If Eureka completes its full earn-in, Go Metals would retain a 20% participating interest in the project. The arrangement allows Go Metals to advance KM98 without directly funding exploration costs at this stage, which investors may be watching as a capital-efficient strategy.

KM98 Within Go Metals' Critical Metals Portfolio in Québec

KM98 is a titanium-vanadium-iron project and forms part of Go Metals' broader critical metals project portfolio. The company also holds the HSP nickel-copper project and the Monster iron oxide copper-gold project. The technical content of the October 29, 2026 announcement was reviewed and approved by Hugues Longuépée, P.Geo., of IOS Geosciences, acting as the qualified person under National Instrument 43-101. Mr. Longuépée is identified as independent of Go Metals. The immediate share price impact was not clear from available public information.