Northwire Canada EditionThursday, November 12, 2026
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Gold 4,000.50 −0.7% Silver 52.00 +1.5% Copper 6.27 +0.5% Oil 86.53 +0.6% Palladium 1,030.00 +0.9% TIG 0.800 +0.0% RVG 0.715 −4.0% FNV 354.26 −2.4% FDY 4.30 −0.5% MAU 16.05 −3.2% VOXR 6.78 −0.6% TLO 7.04 −1.0% NICU 1.95 −5.8% VTEN 0.440 +0.0% AWM 0.025 +0.0% OR 50.79 −1.8% AUXX 5.30 −5.5% TNR 0.420 +40.0% ORCL 0.030 +0.0% ELD 47.71 −5.4% OPW 0.140 −6.7% Gold 4,000.50 −0.7% Silver 52.00 +1.5% Copper 6.27 +0.5% Oil 86.53 +0.6% Palladium 1,030.00 +0.9% TIG 0.800 +0.0% RVG 0.715 −4.0% FNV 354.26 −2.4% FDY 4.30 −0.5% MAU 16.05 −3.2% VOXR 6.78 −0.6% TLO 7.04 −1.0% NICU 1.95 −5.8% VTEN 0.440 +0.0% AWM 0.025 +0.0% OR 50.79 −1.8% AUXX 5.30 −5.5% TNR 0.420 +40.0% ORCL 0.030 +0.0% ELD 47.71 −5.4% OPW 0.140 −6.7%
Drill Results

Sorrento Resources Announces Mobilization of Drill Crews and Diamond Drill at the Bottom Brook Project

By The Northwire Desk — AI Analysis Jan 30, 2026 · 05:31 SRS · 0.27 Sorrento Resources Ltd.
SRS · Price

Executive Summary

  • Sorrento Resources Ltd. has mobilized drill crews and a diamond rig to commence its inaugural 9‑hole, ~1,300 m drilling campaign at the Bottom Brook Project’s U3 Prospect.
  • The program will twin historic high‑grade REE intercepts (LP‑07‑09 and LP‑08‑17) and generate core for metallurgical testing, aiming to expand known mineralization along strike, up‑dip and down‑dip.
  • A Technical Services Agreement with Bugden Exploration Inc., involving daily rates of $375–$650 and an aggregate value potentially exceeding $100 k (a “Significant Transaction” under CSE policy), has been executed.

Key Details

  • Drilling Scope: 9 diamond drill holes, total ~1,300 m; first hole expected early February 2026.
  • Target Area: U3 Prospect, Bottom Brook Project – historic REE mineralization with known intercepts (e.g., 5.03 m @ 4.37% TREO, 15.3 m @ 1.16% TREO).
  • Twin Holes Planned: Replicate LP‑07‑09 (5.03 m @ 4.37% TREO; includes 1.05 m @ 11.02% TREO) and LP‑08‑17 (15.3 m @ 1.16% TREO; includes 7.5 m @ 1.27% TREO).
  • Metallurgical Work: Core from twin holes will be used for metallurgical testing to assess processing potential.
  • Operational Schedule: 24‑hour drilling operations; first hole completion targeted within the first week of February 2026.

Technical Services Agreement * Parties: Sorrento Resources Ltd. and Bugden Exploration Inc. (Bugden).
Effective Date: January 20, 2026; term through December 31, 2026.
 Compensation: Daily rates ranging from $375 to $650 per day for geological consulting services.
Related‑Party Nature:* CEO Alex Bugden and Director Neal Blackmore are significant shareholders of Bugden; transaction classified as a “Significant Transaction” (potential value > $100 k).

Project Background * Bottom Brook comprises 16 licences, 606 claims, covering ~15,150 ha, located ~40 km south of Corner Brook, NL.
* Historic REE intercepts include:
* 4.37% TREO over 5 m
* 4.47% TREO over 5.6 m
* 8.19% TREO over 2 m
* 15% TREO over 0.5 m
* 11.02% TREO over 1.05 m
* 1.269% TREO over 7.5 m

Qualified Person * Alex Bugden, P.Geo., qualified under NI 43‑101, has reviewed and approved the technical information.

Notable Quotes

“Mobilizing our first-ever drill program is a major milestone for Sorrento and an exciting moment for our shareholders,” – Alex Bugden, President & CEO.

Materiality Assessment: Material – Positive (inaugural drilling campaign and related‑party service agreement represent significant operational and financial developments.)

Read the original news release →

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