# Canadian mining firms resource and project expansion

> Live situation record from CLSTR: https://clstr.news/situations/canadian-mining-firms-resource-and-project-expansion
> Updated: 2026-08-18T23:15:05.000Z. Sources: 16. Developments: 5.

Canadian-linked mining and resource companies continue to advance exploration and expansion projects through drilling and new financing. In Ontario, Signature Resources reported final assay results from its 4,006m Lingman Lake Gold winter drill program, which validated the geological model and identified priority targets for future drilling. Cadillac Mines also reported new drilling results at its Kerr-Addison property in the Abitibi Greenstone belt, where a standout hole intersected approximately 23 metres grading 3.08 grams of gold per tonne. The company indicated these results demonstrate mineralization continuity and could support the expansion of its open-pit gold resource. In Québec, Scandium Canada has transitioned to a 4,000m resource expansion program at its Crater Lake Project, aiming to extend the TG zone strike length by at least 200m and potentially grow the resource by 20–25%. Meanwhile, Midland Exploration has initiated an induced polarisation (IP) survey at its Malaco Mountain project in the Labrador Trough in partnership with SOQUEM, targeting copper, gold, and rare earth elements. Financing activities remain active to support international and domestic operations. Element 29 Resources closed a C$12 million private placement for copper exploration in Peru. U92 Energy Corp. is seeking approximately C$8.5 million to advance its Kurupung uranium project in Guyana. Canadian Copper Inc. raised C$3.2 million to eliminate US$2 million in debt and strengthen its balance sheet. In British Columbia, Scottie Resources has completed half of its 50,000m drilling program at the Scottie Gold Mine Project to support a 2027 feasibility study. Selkirk Copper Mines reported a notable intercept of 13.12% copper equivalent over 1.93 metres at its Minto project, with recent Phase 2 drilling aiming to define mining stope geometry and expand known zones.

## Claims

- Element 29 Resources closed a C$12 million private placement to fund copper exploration in Peru. (single source)
- Element 29 Resources issued 7.27 million shares at C$1.65 each on August 10, 2026. (single source)
- Proceeds from the placement will fund exploration at the Elida, Flor de Cobre, and Paka projects. (single source)
- U92 Energy Corp. intends to raise up to C$7 million through public offerings and C$1.5 million via non-brokered private placement. (single source)
- U92 Energy Corp. will use the net proceeds to advance the Kurupung uranium project in Guyana. (single source)
- Ocean Partners increased its ownership of Canadian Copper Inc. to 21.3% by exercising 12,725,000 warrants. (single source)
- Canadian Copper Inc. will use the C$3.2 million in proceeds to eliminate US$2 million of outstanding debt. (single source)

## Timeline

### 2026-08-18: Canadian mining companies report significant exploration results

Canadian mining firms Cadillac Mines, Midland Exploration, and Selkirk Copper Mines have reported positive drilling results and new geophysical surveys targeting gold, copper, and rare earth elements.

3 sources. https://clstr.news/cluster/canadian-mining-firms-report-progress-in-gold-and-mineral-exploration

### 2026-08-12: Canadian mining companies advance exploration and drilling programs

Canadian mining companies Kingfisher Metals and Renforth Resources report progress in exploration drilling and resource development at projects in British Columbia and Quebec.

2 sources. https://clstr.news/cluster/canadian-mining-companies-advance-exploration-and-drilling-programs

### 2026-08-12: Canadian mining firms advance uranium and rare earth exploration

Mining companies Purecore Metals, Primary Hydrogen, and Infini Resources have announced new uranium and rare earth exploration programs and drilling campaigns across Canada.

8 sources. https://clstr.news/cluster/patriot-resources-secures-community-access-for-tassa-silver-project-in-peru

### 2026-08-11: Mining firms secure funding for copper and uranium exploration

Mining companies Element 29 Resources, U92 Energy, and Canadian Copper Inc. have secured or are seeking millions in funding for copper and uranium projects in Peru, Guyana, and Canada.

3 sources. https://clstr.news/cluster/mining-firms-secure-funding-for-copper-and-uranium-exploration

### 2026-08-10: Canadian mining firms advance resource expansion through new drilling

Signature Resources and Scandium Canada are advancing resource expansion in Canada through new drilling programs for gold and scandium deposits.

4 sources. https://clstr.news/cluster/canadian-mining-firms-advance-resource-expansion-through-new-drilling

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Cite as: Canadian mining firms resource and project expansion. CLSTR, https://clstr.news/situations/canadian-mining-firms-resource-and-project-expansion