Northwire Canada EditionSunday, November 8, 2026
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Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7% Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7%
Drill Results

Spark Energy Minerals Advances Arapaima Project with Resumption of RC Drilling and Metallurgical Work

Spark Energy Resumes Drilling Amid Regulatory Scrutiny and Cash Burn Concerns

By The Northwire Desk — AI Analysis Mar 25, 2026 · 17:06 SPRK · 0.04 Spark Energy Minerals Inc.
Executive Summary
  • On March 25, 2026, Spark Energy Minerals announced the mobilization of a new Reverse Circulation (RC) drilling program at its Arapaima Project in Brazil, targeting a minimum of 20 holes and approximately 2,000 metres of drilling.
  • The program aims to define and expand ionic adsorption clay (IAC) hosted rare earth element (REE) and gallium mineralization across three priority target areas.
  • Parallel metallurgical testing of high-grade samples from the February 2026 campaign will be conducted at ANSTO Minerals in Australia to confirm IAC characteristics and evaluate preliminary REE/gallium recovery.
  • The combined data is intended to support a future maiden inferred mineral resource estimate compliant with NI 43-101.
  • This update follows a March 12, 2026 regulatory clarification where the company retracted previously reported TREE/MREO values and gallium intercepts after a CIRO request deemed them non-compliant and speculative. The current program is a direct operational response to generate compliant, verified data.
Material Impact
  • The news is an expected operational follow-through after the company raised approximately $2.3 million in February and March 2026 specifically to fund drilling and working capital.
  • It does not contain new assay results, resource estimates, or metallurgical breakthroughs. The impact is strictly procedural and aligns with prior guidance.
  • Given the recent regulatory retraction and the early-stage nature of the project, the announcement carries limited near-term market-moving potential. It is categorized as Routine - Positive because it demonstrates capital deployment and a return to compliant exploration workflows, but it does not alter the fundamental risk profile or valuation.
SPRK · Price
Company Overview
  • Spark Energy Minerals Inc. is a Canadian junior exploration company focused on critical minerals in Brazil's Lithium Valley region.
  • Flagship Project: Arapaima Project (Minas Gerais, Brazil). The property spans approximately 91,900 hectares and targets near-surface ionic adsorption clay (IAC) hosted REE and gallium, alongside lithium-bearing pegmatites.
  • The project is in the early exploration phase with no defined mineral resource estimate. Historical work includes surface sampling, initial RC drilling, and geological mapping.
  • The company's strategy relies on advancing the Arapaima Project toward a maiden resource estimate while maintaining a portfolio of other Brazilian mineral claims.
Read the original news release →

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Drill Results