District Commences Airborne MobileMT Survey at the Alum Shale Properties in Sweden
District commences expected airborne surveys, advancing its exploration pipeline without immediate catalysts.
District Metals Corp. has retained Expert Geophysics Surveys Inc. (EGS) to conduct a helicopter-borne MobileMT survey across its Alum Shale Properties in Sweden. The survey covers approximately 2,253 line kilometers at 400-meter spacing. This work follows successful June 2025 results that validated MobileMT for mapping mineralized host rock at the Viken Energy Metals Deposit.
Approximately half of the 151,329-hectare land package was previously surveyed in July 2025, identifying numerous large conductive anomalies. Priority targets focus on the shallowest and thickest accumulations of mineralized Alum Shale. Drilling has already commenced at the Österkälén mineral license based on these identified anomalies.
The release references the June 2, 2026 PEA for the Viken Deposit, highlighting an after-tax NPV8% of US$2.88 billion, an IRR of 45.9%, and a payback period of 2.1 years.
District Metals Corp. (DMX) has commenced the MobileMT survey, marking a routine execution of its previously announced exploration program, which was initially outlined in February 2026. The activity confirms project progression and validates the company's exploration strategy, remaining fully consistent with prior guidance and the approved 2026 exploration budget. No new financial metrics, resource estimates, or regulatory changes were introduced with this announcement.
District Metals Corp. (DMX) is a uranium polymetallic exploration and development company focused on Sweden's Viken Property and broader Alum Shale properties. The company holds 100% ownership of the Viken and Alum Shale properties via its Swedish subsidiary, Bergslagen Metals AB. The properties are completely free of net smelter returns (NSR) royalties.
The flagship Viken Energy Metals Deposit hosts the world's largest undeveloped uranium mineral resource estimate, along with significant resources of vanadium, potash, molybdenum, nickel, copper, and zinc. The June 2026 PEA outlines a 13-year open-pit operation with initial CAPEX of $876 million, targeting annual production of:
- 3.3M lbs U3O8
- 16M lbs V2O5
- 250K tonnes SOP