Volta Metals Ltd. (CSE: VLTA) has announced a substantially expanded mineral resource estimate for its Springer Rare Earth Element and Gallium Deposit in Ontario, with Indicated Mineral Resources surging 116% to 122.4 million tonnes grading 0.59% total rare earth oxides. The updated estimate, prepared independently by SLR Consulting (Canada) Ltd. and effective September 30, 2026, incorporates 13 holes drilled in 2026 and includes the deposit's first supplementary gallium estimate. The disclosure positions Springer among North America's five largest rare earth deposits by Measured and Indicated tonnage, based on S&P Global Market Intelligence data, potentially elevating investor interest in the project.

Key Points

  • Volta Metals Ltd. (CSE: VLTA, OTCQB: VOLMF, FSE: D0W)
  • Indicated Mineral Resources at Springer increased 116% to 122.4 Mt grading 0.59% TREO, up from 56.6 Mt in February 2026
  • High-grade core grew 140% to 27.6 Mt grading 1.00% TREO; first gallium estimate totals approximately 4,427 tonnes in situ across 122.4 Mt Indicated volume at 36 g/t
  • Investors may be watching progress on gallium metallurgy and a Preliminary Economic Assessment targeted for the first half of 2027

Springer High-Grade Core and Magnet Rare Earth Composition

The Indicated High Grade domain expanded 140% to 27.6 Mt grading 1.00% TREO, carrying an estimated average net metal revenue of C$384 per tonne. This core contains 495 g/t praseodymium oxide, 1,683 g/t neodymium oxide, 63 g/t dysprosium oxide, and 14 g/t terbium oxide. Magnet rare earth oxides — comprising neodymium, praseodymium, dysprosium, and terbium — represent approximately 22.4% of total Indicated TREO. The Inferred High Grade domain grew nearly nine-fold to 26.7 Mt at 0.94% TREO and remains open, the release states, suggesting potential for additional resource growth.

First Gallium Estimate Adds Strategic Dimension to Springer

Volta's announcement includes a supplementary gallium estimate averaging 36 g/t gallium across the 122.4 Mt Indicated Mineral Resource volume, with a Gallium High Grade domain of 14.8 Mt grading 56 g/t gallium. The release discloses approximately 4,427 tonnes of in situ gallium in the Indicated category. Gallium has not been assigned economic value in the current estimate because metallurgical recovery to a saleable product, processing costs, and commercial payability have not yet been established. Ongoing metallurgical test work is evaluating gallium recovery potential, the company notes.

Infrastructure Advantages and Resource Robustness at Springer

The Springer deposit sits approximately 70 km east of Sudbury, Ontario, adjacent to the Trans-Canada Highway, with power, natural gas, and Canadian National Railway service all within 8 km. The conceptual optimised pit shell carries a strip ratio of 1.26 tonnes of waste per tonne of mineralised material, which the release describes as low. At a C$150 per tonne NMR sensitivity cut-off — 3.5 times the C$43 per tonne reporting cut-off — 83.7 Mt grading 0.72% TREO is retained within the same pit shell, illustrating resource resilience across a range of economic assumptions.

Volta's Development Pathway Toward a Preliminary Economic Assessment

Volta has outlined a multi-stage development program for Springer. Additional drilling is planned to expand the high-grade rare earth and gallium mineralised zones. Metallurgical test work is ongoing to optimise rare earth recoveries and evaluate gallium production potential. A Preliminary Economic Assessment is targeted for the first half of 2027, incorporating the updated mineral resource estimate along with results from planned drilling and metallurgical studies. An independent NI 43-101 Technical Report supporting the updated estimate is to be made publicly available within 45 days of the announcement.