Steadright Critical Minerals Inc. (CSE: SCM) has announced that exploration is underway at its Péribonka Rare Earth Element and Niobium Carbonatite Target in the Saguenay–Lac-Saint-Jean Region of Québec. The project sits within the same district as Niobec, Canada's only producing niobium mine. The company has completed a helicopter-borne geophysical survey across its 37 claims and is awaiting results to guide its first drill programme. Investors may be watching to see whether the survey data confirms a drillable carbonatite target beneath the property's sand and gravel cover.

Key Points

  • Steadright Critical Minerals Inc. (CSE: SCM) has commenced exploration at the Péribonka REE-Niobium Carbonatite Target in Québec
  • A helicopter-borne magnetic and gamma-ray spectrometric survey covering 622 line-kilometres at 50 m line spacing has been completed over all 37 claims
  • No carbonatite or REE-niobium mineralisation has been confirmed at Péribonka to date; the property remains an early-stage exploration target
  • Investors should watch for survey results and interpretation, expected in the coming weeks, which will be used to define drill targets

Airborne Geophysical Survey Completed at Péribonka

Under the guidance of Magnor Exploration, Steadright has flown a high-resolution helicopter-borne magnetic and gamma-ray spectrometric survey covering 622 line-kilometres at 50 m line spacing across all 37 claims of the Péribonka Project. The release states that results and interpretation are expected in the coming weeks and will be used to define targets for the first drill test of the anomaly. The Péribonka anomaly has never been drilled, as it lies beneath sand and gravel cover, making this survey the first modern, property-wide step toward testing the target.

Péribonka's Location Within Québec's Priority Carbonatite Corridor

The Québec government has identified the nearby Shipshaw carbonatite as one of five priority carbonatite and alkaline systems in the province for detailed geological study. These five systems sit along the Waswanipi-Saguenay corridor, which the announcement describes as the district behind all of Canada's niobium production. The Péribonka anomaly displays a geophysical signature similar to these known intrusions, according to the release. The company notes the selection of these systems underscores the strategic value of the Saguenay Region to Canada's domestic supply of niobium and rare earth elements.

NSM Capital SARL Shareholder Agreement Amended

Steadright and Critical Foundation Metals Inc. have signed a second amendment to the NSM Capital SARL shareholders' agreement. The amendment replaces provisions governing how shareholders make ordinary, governance-related, and extraordinary decisions, and sets a minimum fifteen-day consultation period for written resolutions. The release also discloses that Steadright's CEO holds an indirect interest of approximately 6% in CFM through a 33% stake in a private company owning approximately 18% of CFM's common shares, and that a consultant to Steadright is connected to CFM's controlling shareholder.