Total Metals Provides Update on Exploration Activities
Total confirms funding and permits for its exploration program while its stock languishes near multi-year lows.
Total Metals Corp. issued an exploration update on September 23, 2026, detailing activities at its High Lake and Menary properties in Northwestern Ontario. The company confirmed that all-season drill access is available and that reconnaissance sampling has been completed at both sites. Management stated that the company is fully permitted and funded to execute its 2026 drilling program.
Immediate plans include initiating drilling on the Purdex Zone at High Lake and submitting new early exploration permits. Additional milestones include a gravity survey at Pick Lake and core re-logging and infill sampling at West Hawk Lake. CEO Andrew Ramcharan emphasized that the planned work focuses on expansion and infill drilling to scale the existing High Lake mineral resource.
Total Metals Corp. (TT) released a routine positive update confirming the execution of its previously announced exploration plans. The announcement does not introduce new material catalysts, unexpected financial results, or major strategic shifts. The confirmation of funding and permits aligns with the company's stated 2026 work program.
The stock price has declined significantly from its 52-week high of $1.38 to $0.26, indicating that the market has largely priced in the exploration risks and dilution concerns. The update is incremental and does not materially alter the risk/reward profile in the near term.
Total Metals Corp. (TT) is a junior exploration company focused on critical metals and gold projects in Ontario. Its flagship asset is the Electrolode Critical Metals Project in Red Lake, which features the Arrow Zone with an inferred resource of 2.11 million tonnes averaging 4.74% zinc, 0.66% copper, 17.92 grams per tonne silver, and 0.66 grams per tonne gold. Recent drilling at the site returned exceptional high-grade intercepts, including 38.2% zinc over 0.42 meters.
The company also holds the High Lake Gold Project, which contains the Purdex Zone with an indicated resource of 152,000 tonnes at 9.38 grams per tonne gold (45,800 ounces) and an inferred resource of 287,000 tonnes at 10.43 grams per tonne gold (96,200 ounces). Additionally, Total Metals owns the Menary Gold Project, a high-grade property adjacent to Coeur Mining’s Rainy River mine, where historic grab samples have returned up to 8,120 grams per tonne gold.
In April 2026, the company acquired the Pick Lake Critical Minerals property for $2.2 million. This asset contains an indicated resource of 1.78 million tonnes at 19.2% zinc.