Northwire Canada EditionTuesday, September 15, 2026
Northwire
GOLD 4351.90 −1.3% SILVER 63.76 −2.2% COPPER 6.40 −2.3% OIL 101.39 +1.3% PALLADIUM 1296.50 −2.1% QGR 0.200 +0.0% MSC 0.015 −25.0% GENM 0.705 −0.7% URC 3.89 +0.0% SHL 0.400 +4.6% AZS 0.750 −8.5% FL 0.415 +0.0% HMMC 8.29 −1.1% NAR 0.260 −5.5% GCN 0.030 −14.3% RIO 3.54 −1.4% EVI 0.430 +2.4% CTV 0.110 −4.3% ECOR 3.10 −4.0% TLG 2.20 +0.0% UCU 2.59 +2.8% GOLD 4351.90 −1.3% SILVER 63.76 −2.2% COPPER 6.40 −2.3% OIL 101.39 +1.3% PALLADIUM 1296.50 −2.1% QGR 0.200 +0.0% MSC 0.015 −25.0% GENM 0.705 −0.7% URC 3.89 +0.0% SHL 0.400 +4.6% AZS 0.750 −8.5% FL 0.415 +0.0% HMMC 8.29 −1.1% NAR 0.260 −5.5% GCN 0.030 −14.3% RIO 3.54 −1.4% EVI 0.430 +2.4% CTV 0.110 −4.3% ECOR 3.10 −4.0% TLG 2.20 +0.0% UCU 2.59 +2.8%
Drill Results Routine +

1844 Resources receives drill permits for SV2

1844 Resources Secures Drilling Permits for SV2 Copper Project Amidst Modest Financing

Executive Summary
  • 1844 Resources Inc. has obtained all required drilling permits for its flagship SV2 (Sullipek/Vortex/Vallieres) copper project in Quebec's Gaspé Peninsula.
  • The project is now fully drill-ready for the first time in over a decade.
  • A 50/50 joint venture exists with Glencore on the Vallieres property and adjacent claims.
  • An NI 43-101 inferred resource of 2.24 Mt at 1.09% Cu is reported on the Sullipek portion.
  • Historical drilling intersected 29.8m @ 0.94% Cu (August 2012).
  • A drill campaign is slated for late summer/early fall 2026 following a 500,000-share option grant to a director ($0.05 exercise price).
  • Airborne geophysical survey completed October 2025; data integration ongoing.
Material Impact
  • The permit acquisition is a critical operational milestone but aligns with expectations set by the October 2025 Work Authorization (ATI) and Drilling Permit announcement for Sullipek East.
  • While positive, the financial backing remains insufficient to support a major drilling campaign; total proceeds from recent financing were only $395,589.50.
  • The market has not reacted significantly to prior permitting news, suggesting this update is viewed as incremental progress rather than a valuation inflection point.
  • The resource estimate remains Inferred (lowest confidence category), requiring significant drilling and verification before it can be upgraded or considered economic.
  • Insider participation in the financing ($800k units subscribed) signals management confidence but does not offset the dilution risk inherent in small-cap exploration financings.
EFF · Price
Company Overview
  • 1844 Resources Inc. focuses on copper exploration in Quebec's Gaspé Peninsula.
  • Flagship Project: SV2 (Sullipek/Vortex/Vallieres), covering ~68 km² across 130 claims.
  • Location: 22 km west of Osisko Metals' Murdochville project, placing it within a known copper belt.
  • JV Structure: 50/50 joint venture with Glencore on the Vallieres property; 1% NSR royalty retained by SOQUEM on acquired claims.
  • Resource Status: NI 43-101 Inferred resource of 2.24 Mt @ 1.09% Cu (Sullipek); historical data requires verification to current standards.
Read the original news release →

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