Volta Metals drills 116.8 m of 77 g/t Ga2O3 at Springer

Executive Summary

• Volta Metals Ltd. released initial gallium assay results from drill hole SL25-23 at its Springer Rare Earth Project in Ontario, confirming thick, continuous high-grade gallium mineralization.
• The results include a significant intercept of 116.8 metres grading 77 g/t Ga2O3, with high-grade sub-intervals exceeding 100 g/t Ga2O3, ranking among the highest-grade gallium assays reported in North America.
• The company highlights the strategic importance of gallium as a critical mineral, noting market growth projections and supply constraints driven by Chinese export restrictions, while positioning the Springer project as a potential leading North American gallium-bearing REE system.

Key Details

• Drill Hole SL25-23 Highlights:
  • Broad Intercept: 116.8 metres grading 77 g/t Ga2O3 (from 59.0 m to 175.8 m).
  • High-Grade Zone 1: 11.1 metres grading 120 g/t Ga2O3 (from 153.0 m to 164.1 m).
  • High-Grade Zone 2: 1.0 metre grading 332.0 g/t Ga2O3 (from 82.0 m to 83.0 m).
  • Total Interval: The sampled interval from 58.0 m to 175.8 m ended in 118.3 g/t Ga2O3.
  • Remaining Hole: The remainder of the hole (to 372 m) is currently undergoing gallium assay.
• Grade Classification Context:
  • Industry benchmarks classify gallium grades as: Low (<35 g/t Ga2O3), Moderate (35–60 g/t Ga2O3), and High (>60 g/t Ga2O3).
  • The reported results fall into the high-grade category.
• Market and Strategic Context:
  • Gallium is listed as a critical mineral in Canada, Europe, Australia, and the United States.
  • Market projections estimate growth from $2.5 billion (USD) in 2024 to $21.5 billion (USD) by 2034.
  • China controls 98% of global gallium production; recent export restrictions (including a ban on exports to the US in Dec 2024) have tightened supply and driven prices up to $575 USD/kg in Dec 2024.
  • Primary natural gallium occurrences are uncommon as it is typically a byproduct of aluminum/zinc refining.
• Historical Resource Reference:
  • A 2012 historical mineral resource estimate (not compliant with current CIM standards) cited for reference:
    • Indicated: 4.2 million tonnes at 1.14% TREO and 0.02% ThO2.
    • Inferred: 12.7 million tonnes at 1.17% TREO and 0.01% ThO2.
  • Volta notes that gallium was not included in the 2012 estimate and further drilling is required to verify historical data.
• Technical and QA/QC:
  • Samples analyzed at Saskatchewan Research Council (SRC) using Code 8-REE assay (lithium metaborate/tetraborate fusion with ICP/MS).
  • QA/QC included certified standards (SY-5), blanks, and duplicates.
  • Technical content approved by Dr. Julie Selway, PGeo.

Notable Quotes

• Kerem Usenmez, CEO: "These gallium assays further reinforce Springer's position as one of North America's most advanced and strategically important critical minerals projects. The presence of long, continuous intervals with consistently high gallium grades is rare in North America."