Errington Metals Identifies Growth Potential at the 1500 Zone
Errington reports its best-grade hole yet at 9.59% CuEq over 8.3m from one pad where only three of seven holes have been assayed.
Errington Metals Corp. (EM) released initial assay results from a seven-hole drilling program at the 1500 Zone, an area interpreted as a fault-displaced, deeper portion of the Errington Deposit with no surface expression. The company reported assays for three of the seven holes, while results for EME-26-103, -113A, -116, and -118 remain pending.
Key intercepts from the reported holes include:
- EME-26-108: 8.3 m at 9.59% CuEq (5.86% Cu, 7.26% Zn, 2.59% Pb, 0.57 g/t Au, 313.8 g/t Ag) from 409.5 m
- EME-26-105: 8.0 m at 4.70% CuEq (3.33% Cu, 3.81% Zn, 1.44% Pb, 0.24 g/t Au, 73.3 g/t Ag) from 436.5 m
- EME-26-110A: 5.7 m at 0.25% CuEq (0.02% Cu, 0.27% Zn, 0.15% Pb, 0.20 g/t Au, 9.8 g/t Ag) from 415.5 m
Among the pending holes, EME-26-116, which was drilled to test the down-dip continuation, encountered pyrrhotite mineralization and several small faults. The company noted that this hole may have terminated before reaching the projected target. The 1500 Zone forms part of the mineral resource estimate released on September 20, 2026. Errington plans to conduct sequential electromagnetic surveys and a Phase 2 program covering approximately 55,000 meters.
Errington Metals Corp. (EM) reported no profit or loss for the period, consistent with its exploration phase. For the six months ending June 30, 2026, the company recorded a net loss of C$14.10M and exploration and evaluation expenditures of C$4.87M, with no revenue generated. Cash on hand stood at C$9.25M at period-end before a C$34.5M placement in August increased the balance to approximately C$38M, according to corporate data.
The company’s recent drilling program targeted the 1500 Zone, which lies within the existing Errington deposit footprint and was included in the September 20, 2026 Mineral Resource Estimate (MRE). The holes were drilled to test gaps in the wireframe and material outside optimized stope shapes. While two of the reported holes were described as good and one as excellent, tonnage additions will not be reflected in the model until all data is integrated. Four of the seven assays remain pending.
The company’s equity has seen significant movement since its April 22 listing at C$2.80, reaching a high of C$5.32 on September 18, a gain of approximately 90%. However, the stock has drifted downward since the most recent drill results from the Errington Zone on September 3 (~C$4.90) and the MRE release on September 22 (~C$5.13), settling at C$4.80. This price action suggests the market has not yet fully priced in the specific drill results from the 1500 Zone. The 1500 Zone results, characterized by the highest grade but short width on the same pad, are considered in-line to modestly better than the September 3 anchor, rather than materially better than previous demonstrations.
Errington Metals Corp. (TSXV: EM; OTCQX: ERRMF) is listed via RTO on April 22, 2026. The company holds the wholly owned Sudbury Basin Project in Ontario, which comprises three VMS centres—Errington, Vermilion, and Balfour—along the Vermilion horizon. The property covers approximately 9,000 hectares prior to the pending Vale "Mid Zone" addition of approximately 1,270 hectares, which would extend the continuous prospective strike to more than 20 km.
A maiden MRE effective Sept 20, 2026, reported 14.20 Mt M&I at 2.74% CuEq and 3.44 Mt Inferred at 2.67% CuEq. More than 80% of the inventory is M&I, with Errington Metals holding approximately 75% of M&I tonnes and more than 80% of total inventory. Strategic shareholders include Glencore, holding approximately 17%, and Vale, which holds 2,336,472 shares, or approximately 4.99%, on closing.
The balance sheet as of Q2-2026, pre-placement, showed C$9.25M in cash, zero debt, and C$12.79M in equity. A C$34.5M August placement lifted corporate cash to approximately C$38M per company data. There are 55.82M shares outstanding, with a fully diluted count of approximately 59.84M. Key commitments include a C$25M, five-year work commitment, with Glencore holding a reacquisition right if unmet, and a Phase 2 program of approximately 55,000 m.