Drill Results Routine +

Totora Cu/Au Project Reverse Circulation Drilling Completed and Diamond Drill Rig Being Mobilized

ATERRA Metals Progresses Totora Drill Program While Managing Hydrogeological Challenges

By The Northwire Desk — AI Analysis Apr 21, 2026 · 07:21 ATC · 0.03 ATERRA Metals Inc.

Executive Summary

ATERRA Metals Inc. completed Phase 1 reverse circulation (RC) drilling at the Totora Cu/Au Project, totaling 1,575 metres drilled as of April 21, 2026.
RC drilling confirmed altered quartz diorite with pyrite and chalcopyrite mineralization at the primary Totora porphyry target.
Water inflow issues in some RC holes necessitated a transition to diamond drilling; a diamond drill rig is expected to mobilize within one week.
All samples have been sent for assaying, with results anticipated in approximately two weeks (mid-May 2026).
Specific hole data indicates partial completion of several holes (e.g., ATOR01A pending 290m diamond drilling) while others are fully complete via RC.
The company maintains its goal to publish a NI 43-101 compliant resource estimate in Q3 2026 integrating Phase I results with historical data.

Material Impact

Progress Verification: The completion of 1,575m of RC drilling validates the execution plan announced on March 25, 2026 (Phase I drill program commencement). This confirms management is adhering to the exploration timeline.
Operational Risk Mitigation: While water inflow reduced the amount of RC drilling compared to initial targets, the company has proactively mobilized diamond drilling to reach target depths. This mitigates the risk of losing data or delaying the project significantly.
Grade Uncertainty: The news does not provide assay results yet; it only confirms sample submission. Therefore, the fundamental value proposition (grade and tonnage) remains unconfirmed by this specific release.
Expectation Alignment: The market likely anticipated drilling progress following the March announcement. This update is incremental rather than transformative until grades are released.
Capital Efficiency: The transition to diamond drilling may increase costs slightly compared to RC, but given the $2.78M raised in January 2026, there appears sufficient runway for this operational adjustment without immediate dilutive financing.

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Company Overview

Company Name: ATERRA Metals Inc. (formerly Cascada Silver Corp., ticker change effective Dec 16, 2025).
Flagship Project: Totora Copper-Gold Porphyry Project in Region III, Chile (approx. 60 km south of Vallenar).
Project Components: Includes Frontera, Taruca, Clinton, and Sevilla concessions.
Strategic Focus: Shifted from silver to copper-gold exploration following the name change and option agreement execution in early 2026.
Historical Data: Historical drilling outlines an >800m strike length with depths to ~500m; historical CuEq grades range from ~0.48% to >1.6%.
Qualified Person: Francisco Bravo (Public Registered Person for Reserves and Resources No. 515, Chile).

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