Northwire Canada EditionFriday, July 10, 2026
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Drill Results Routine +

Eastport Announces Additional Positive Assay Results at the Foley Uranium Discovery

Eastport Critical confirms grade continuity at the Foley Uranium discovery, though pre-revenue status and dilution risk temper near-term catalysts.

By The Northwire Desk — AI Analysis Jun 09, 2026 · 07:31 EVI · 0.65 Eastport Critical Metals Corp.
Executive Summary
  • Eastport Critical Metals Corp. announced Batch 2 assay results for the final five of 16 drill holes on Fence 1 at its Foley Uranium Project in Botswana.
  • Results confirm significant uranium mineralisation (>200 ppm U₃O₈) over a 1.4 km strike length, with mineralisation remaining open to the north, south, and east.
  • Key intercepts include RC033 (5.0 m @ 309.0 ppm U₃O₈), RC034 (6.0 m @ 203.0 ppm U₃O₈), and RC037 (2.0 m @ 241.5 ppm and 2.0 m @ 450.0 ppm U₃O₈).
  • The company plans to initiate additional drill fences, step-out drilling, and targeted geophysics to expand the discovery.
  • Geological context places Fence 1 ~350 metres north of Lotus Resources' Letlhakane deposit, which hosts Indicated Resources of 71.6Mt @ 360 ppm U₃O₈ and Inferred Resources of 70.6Mt @ 366 ppm U₃O₈.
  • Assay methodology uses pressed pellet technique via WD-XRF by SGS Group, with standard QA/QC protocols.
Material Impact
  • The release is Routine - Positive. It confirms the initial discovery announced in May 2026 and validates the paleo-channel/uranium wash geological model. The grade profile and strike length are consistent with prior expectations and the adjacent Letlhakane deposit. It does not materially change mine life, NAV, or capital requirements at this early exploration stage. The market's muted price reaction (trading in a tight $0.60-$0.70 range post-announcement) suggests the discovery was largely telegraphed or priced in.
EVI · Price
Company Overview
  • Eastport Critical Metals Corp. is a critical metals explorer/developer based in Botswana.
  • Portfolio: Matsitama Copper (NAK deposit, Copper-Cobra, Kopano South), Semarule REE (carbonatite targets), Foley Uranium (paleo-channel/uranium wash model), Selebi-East (Ni/Cu/PGE), Keng Project.
  • Strategy: "Develop and Distribute" model, focusing on a core anchor asset while maintaining optionality. Pursuing secondary listings (OTCQB).
  • Management: CEO Burns Singh Tennent-Bhohi, Director Rick Bonner.
Read the original news release →

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