Search Minerals Announces Results of the Fox Run 2025 Critical Rare Earth Element Channel Program in Southeastern Labrador
Search Minerals unearths Fox Run potential while navigating a complex balance sheet restructuring and management overhaul.
The most recent news (March 19, 2026) reports assay results from the 2025 channel sampling program at the Fox Run prospect and three other CREE (Critical Rare Earth Element) targets in Labrador. Key highlights include intervals of 18.18m and 7.08m with grades comparable to the existing Foxtrot Indicated Resource. Specifically, channel FRC-25-03 returned 200 ppm Dy, 1476 ppm Nd, and 402 ppm Pr. These results suggest the potential to expand the resource base within a 10km radius of the core Foxtrot and Deep Fox deposits.
The news is Routine - Positive. While the grades are encouraging and validate the "district-scale" thesis, they are incremental. The company is currently in a "survival and restart" phase following a 2024 Cease Trade Order (CTO) and a 10:1 share consolidation in June 2025. - Resource Continuity: The results confirm that mineralization at Fox Run mirrors the Foxtrot deposit, which is essential for long-term mine life extension. - Financial Context: The positive technical data is overshadowed by the company's heavy reliance on "shares-for-debt" transactions (Feb 2026) and high-interest (15%) convertible loans to maintain operations. - Management Stability: The company is currently led by an Interim CEO (Jason Macintosh) following the resignation of Joseph Lanzon in February 2026, adding a layer of execution risk.
Search Minerals is focused on the Port Hope Simpson-St. Lewis CREE District in SE Labrador. - Flagship Project: The Deep Fox and Foxtrot deposits. - Stage: Advanced Exploration / Pre-Feasibility. - Commodities: Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy), and Terbium (Tb). - Infrastructure: Proximity to the St. Lewis all-weather port (2km from Deep Fox) provides a significant logistical advantage over other remote REE projects.