Lentung Project Progress Update
Rackla Metals Inc. has issued an operational update regarding its 2026 exploration program at the Lentung tungsten project in the Northwest Territories. The company is currently mobilizing a 49-person camp and re-establishing historic trail networks to gain access to the Central Zone.
Drilling is scheduled to commence in mid-July 2026. The planned program includes 4,000 metres of diamond drilling, primarily intended for twin-hole confirmation of historic Union Carbide results, alongside 6,000 metres of reverse circulation drilling to infill and expand mineralization at the Central Zone.
Additionally, Rackla received $99,000 in funding from the NWT Mineral Incentive Program to advance the South Lened rare earth target, with activities focusing on geological mapping and sampling. The geological team is also recovering historic drill core, with an initial assessment estimating that 90% or more of the historic core is recoverable.
CEO Simon Ridgway stated that the primary focus is defining a near-surface resource in the Central Zone, leveraging the company's position in one of the world's richest tungsten skarn belts. An NI 43-101 technical report is targeted for completion in Q4 2026 or Q1 2027.
Rackla Metals Inc. (RAK) released an update on July 2, 2026, marking a direct execution of its previously announced 2026 exploration program and the May 21, 2026 land use permit. The announcement confirms that the company remains on schedule to begin drilling operations.
The update serves as a routine operational follow-up that validates management's stated timeline. The company’s focus on twin-hole confirmation of historic results indicates a risk-averse approach to data verification rather than greenfield discovery. While this strategy is prudent, it limits the potential for near-term upside surprises.
Additionally, the company allocated $99,000 to the South Lened rare earth target. This amount is immaterial to the overall capital budget and serves more as a strategic optionality play than a near-term revenue driver. The news aligns with previous expectations set in the March and May 2026 releases, with no new financial metrics, resource estimates, or strategic partnerships disclosed.
Rackla Metals Inc. is a mineral exploration company focused on the Northwest Territories, Canada. Its flagship asset is the Lentung Tungsten Project, formerly known as Lened, which is located in the Tombstone-Tungsten Belt approximately 60 km by road from the historic Cantung mine. Rackla owns the project 100%, subject to a 1% Net Smelter Royalty (NSR).
The company acquired the property and a comprehensive historic dataset from Union Carbide, covering the period from 1977 to 1982. This dataset includes 26,900 metres of diamond drilling and feasibility-level studies. Secondary targets include the Grad Property for gold, as well as the Ogre, Calypso, and South Lened properties for rare earths. The company is currently in the advanced exploration stage, aiming to convert this historic data into a modern NI 43-101 resource.