Northwire Canada EditionTuesday, September 29, 2026
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GOLD 4189.80 +0.5% SILVER 61.39 −0.5% COPPER 6.62 −0.1% OIL 91.07 −1.6% PALLADIUM 1237.75 +1.2% SALT 1.50 +2.0% NAU 1.10 −0.9% NTH 0.170 +3.0% KLD 2.15 −1.8% BBB 0.610 +5.2% MD 0.395 +1.3% KRI 0.200 −9.1% ZLTO 0.055 +0.0% LOT 0.030 +0.0% SOI 0.200 −13.0% GIG 0.500 +0.0% BPAG 0.940 +4.4% SCMI 1.36 −3.5% IDEX 0.540 −5.3% SASK 1.06 −0.9% STUD 0.215 +0.0% GOLD 4189.80 +0.5% SILVER 61.39 −0.5% COPPER 6.62 −0.1% OIL 91.07 −1.6% PALLADIUM 1237.75 +1.2% SALT 1.50 +2.0% NAU 1.10 −0.9% NTH 0.170 +3.0% KLD 2.15 −1.8% BBB 0.610 +5.2% MD 0.395 +1.3% KRI 0.200 −9.1% ZLTO 0.055 +0.0% LOT 0.030 +0.0% SOI 0.200 −13.0% GIG 0.500 +0.0% BPAG 0.940 +4.4% SCMI 1.36 −3.5% IDEX 0.540 −5.3% SASK 1.06 −0.9% STUD 0.215 +0.0%
Drill Results Neutral

Bedford announces result of Phase 3 Field Program at its Sheppard Lake Uranium Project and Commencement of 2026 Drilling Program

Bedford Metals Uranium Drilling Stalls Amid Weather; CPS Anomalies Persist at Sheppard Lake

By The Northwire Desk — AI Analysis May 04, 2026 · 09:00 BFM · 0.165 Bedford Metals Corp.
Executive Summary
  • Bedford Metals Corp. announced results from Phase 3 of its 2025 field program at the Sheppard Lake Uranium Project on May 4, 2026.
  • The program included radiometric surveys covering 36.4 line-km and diamond drilling totaling 298.5m.
  • Radiometric survey results identified nine anomalous areas with peak CPS values up to 10,609 at Warr Lake (Silica Cap Zone).
  • Diamond drilling was limited by extreme weather and equipment issues; only two holes were drilled (SHP-25-01 abandoned, SHP-25-02 reached 266.5m).
  • Drill intercepts highlighted elevated Boron levels (50.6 ppm over 25.27m) rather than significant uranium grades in the drill core itself.
  • Grab samples showed U3O8 up to 0.032% and CPS up to 10,609 at surface outcrops.
  • The company immediately commenced a 2026 drilling program targeting up to 2,000m on high-priority targets (TZ-1, TZ-2, Warr Lake).
  • This follows a closing of a $1,000,000 private placement in April 2026 at $0.20 per share and an exploration agreement with English River First Nation in January 2026.
Material Impact
  • The news is incremental rather than transformative; it confirms ongoing exploration activity but does not report a discovery of significant uranium mineralization via drill intercepts.
  • Drilling results were constrained by weather, limiting the data set to only 298.5m in Phase 3, which reduces the materiality of the immediate geological findings compared to planned targets.
  • The absence of high-grade U3O8 intercepts in the diamond drilling (only Boron and surface CPS) suggests the project remains in early-stage exploration rather than resource definition.
  • Recent financing at $0.20 per share contrasts with the current trading price of $0.17, indicating market skepticism or dilution pressure that dampens positive sentiment from this update.
  • The commencement of a 2,000m drilling program is expected given previous announcements (Jan 2026) and does not constitute new unexpected information.
  • Overall impact on stock price is likely neutral to slightly negative due to the lack of drill-grade confirmation and continued dilution risk.
BFM · Price
Company Overview
  • Company: Bedford Metals Corp. (TSX-V: BFM).
  • Flagship Project: Sheppard Lake Uranium Project located on the southern margin of the Athabasca Basin, northern Saskatchewan.
  • Asset Consolidation: In August 2025, the company eliminated option payments to acquire 100% ownership of Ubiquity Lake and Sheppard Lake projects (13,092 hectares), consolidating them under the Sheppard Lake name.
  • Exploration Status: Currently in Phase 3/4 exploration; completed airborne EM surveys and radiometric surveys; drilling limited by weather conditions.
  • Qualified Person: Dr. Peter Born, P.Geo., President of Bedford Metals Corp.
Read the original news release →

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