Volta doubles Springer rare earths resource
2026-10-20 11:31:31 [Print]
Volta Metals has more than doubled the indicated rare earth resource at its Springer deposit in Ontario, positioning the project among North America's five largest by measured and indicated resource tonnage as it moves toward an economic assessment in 2027.
The updated mineral resource estimate raised indicated resources by 116% to 122.4 million tonnes grading 0.59% total rare earth oxides (TREO). An additional 197.5 million tonnes grading 0.53% TREO are classified as inferred. The independently prepared estimate also includes the project's first gallium resource assessment.
Springer's indicated high-grade core grew 140% to 27.6 million tonnes grading 1% TREO, with estimated net metal revenue of C$384 ($272) per tonne, equivalent to C$10.6 billion ($7.5 billion) in gross in-situ metal value.
The inferred high-grade core increased ninefold to 26.7 million tonnes grading 0.94% TREO, with estimated net metal revenue of C$333 ($236) per tonne, or C$8.9 billion ($6.3 billion) in gross in-situ value. The zone remains open for expansion.
The deposit also contains an estimated 4,427 tonnes of in-situ gallium within its indicated resource, including a higher-grade zone of 14.8 million tonnes averaging 56 grams per tonne.
Gallium could provide an additional revenue stream, though Volta has yet to determine whether the metal can be economically recovered. The company is conducting metallurgical studies to assess recovery methods and potential commercial viability.
Located about 70 km east of Sudbury, Springer benefits from direct highway access, on-site power, and nearby natural gas and rail infrastructure. The deposit's low strip ratio could also support future mine development, although the project's economics remain untested.
The company is targeting a preliminary economic assessment (PEA) in the first half of 2027, which would provide an initial evaluation of potential mining costs, processing requirements, and project economics.
The updated mineral resource estimate raised indicated resources by 116% to 122.4 million tonnes grading 0.59% total rare earth oxides (TREO). An additional 197.5 million tonnes grading 0.53% TREO are classified as inferred. The independently prepared estimate also includes the project's first gallium resource assessment.
Springer's indicated high-grade core grew 140% to 27.6 million tonnes grading 1% TREO, with estimated net metal revenue of C$384 ($272) per tonne, equivalent to C$10.6 billion ($7.5 billion) in gross in-situ metal value.
The inferred high-grade core increased ninefold to 26.7 million tonnes grading 0.94% TREO, with estimated net metal revenue of C$333 ($236) per tonne, or C$8.9 billion ($6.3 billion) in gross in-situ value. The zone remains open for expansion.
The deposit also contains an estimated 4,427 tonnes of in-situ gallium within its indicated resource, including a higher-grade zone of 14.8 million tonnes averaging 56 grams per tonne.
Gallium could provide an additional revenue stream, though Volta has yet to determine whether the metal can be economically recovered. The company is conducting metallurgical studies to assess recovery methods and potential commercial viability.
Located about 70 km east of Sudbury, Springer benefits from direct highway access, on-site power, and nearby natural gas and rail infrastructure. The deposit's low strip ratio could also support future mine development, although the project's economics remain untested.
The company is targeting a preliminary economic assessment (PEA) in the first half of 2027, which would provide an initial evaluation of potential mining costs, processing requirements, and project economics.
Gallium Metal 99.99999%min EXW China
Unit:RMB/kg
China's gallium metal producers' sales volume statistics by province by month
Unit: mt
