Drill Results
Canamera Energy starts 10-hole drill program at Patos
Canamera Burns Through $10M to Drill Seven Early-Stage Assets as Stock Slides 65% From Peak
Executive Summary
- The March 31, 2026 release consolidates four months of corporate activity, confirming approximately $10.2 million in gross proceeds raised between November 2025 and March 2026.
- Provides status updates across seven early-stage REE and uranium assets:
- Turvolandia (Brazil): 350m of 1,000m auger program completed; intervals >6,000 ppm TREO identified; remaining 650m underway; assays expected in 6-8 weeks.
- Patos (Brazil): 10-hole auger program initiated; completion in 1-2 weeks; assays in 6-8 weeks.
- Iron Hills (Colorado): 3D magnetic inversion modelling ongoing; results in 6-7 weeks.
- Great Divide (Wyoming): Historical data compilation for uranium exploration; no field work yet.
- Schryburt Lake (Ontario): NI 43-101 technical report preparation underway; First Nations consultation ongoing.
- Garrow (Ontario): Airborne magnetic survey initiated; market update in ~1 month.
- Waterslide (Ontario): Recently optioned 2,300-ha property; airborne survey and soil/rock sampling planned by end of April 2026.
- CEO Brad Brodeur frames the update as delivery on a commitment to build a well-funded, multi-jurisdiction exploration platform.
Material Impact
- The release is a routine consolidation of previously announced financings and exploration timelines. The $10.2M capital raise was already disclosed in the March 26 closing release.
- Drill programs remain strictly early-stage (auger and surface sampling). No resource estimates, metallurgical data, or economic studies have been generated.
- The market has already priced in the dilution from multiple concurrent offerings. The stock's 65% decline from its January 2026 peak ($1.15) to current levels ($0.41) indicates investor fatigue with continuous equity raises and a lack of near-term value inflection points.
- Impact is Routine - Positive: confirms execution but introduces no genuinely new, market-moving data.
EMET · Price
Company Overview
- Canamera Energy Metals is an early-stage exploration company focused on rare earth elements (REE) and uranium across Brazil, the United States, and Canada.
- Flagship Project: Turvolandia REE Project (Minas Gerais, Brazil). Targets ionic-clay hosted REE mineralization, a deposit type known for lower processing costs and favorable metallurgy. The project is under a staged option agreement with a 1.0% NSR (0.5% repurchasable for $500k).
- Secondary Assets: Patos (Brazil, ionic clay REE), Iron Hills (Colorado, USA, REE), Great Divide (Wyoming, USA, Uranium), Schryburt Lake & Garrow (Ontario, Canada, REE/Nb), Waterslide (Ontario, Canada, Uranium/REE). All are pre-resource, exploration-stage properties.
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Jun 16, 2026 · 06:01