Volta more than doubles Springer rare earth resource

Volta Metals has increased indicated resources at its Springer rare earth deposit in Ontario by 116 percent to 122.4 million tonnes grading 0.59 percent total rare earth oxides, with a first gallium resource included.

Why it matters: Springer now ranks among North America's five largest rare earth projects by measured and indicated tonnage, and its magnet rare earth share and gallium content are the qualities Western buyers pay for, though economics remain untested until a 2027 assessment.

Data as of Updated mineral resource estimate with an effective date of September 30, 2026, reported October 19, 2026. In situ metal values are company estimates and are not a valuation of the project.

Volta Metals has more than doubled the indicated rare earth resource at its Springer deposit in Ontario. The updated independently prepared estimate puts indicated resources at 122.4 million tonnes grading 0.59 percent total rare earth oxides, up 116 percent, with a further 197.5 million tonnes grading 0.53 percent classified as inferred. The estimate includes the project’s first gallium resource assessment.

The high grade core grew faster than the bulk resource. Indicated high grade material rose 140 percent to 27.6 million tonnes grading 1 percent total rare earth oxides, and the inferred high grade core increased ninefold to 26.7 million tonnes at 0.94 percent. Magnet rare earths, neodymium, praseodymium, dysprosium and terbium, account for about 22.4 percent of the indicated resource’s oxide content, a proportion Volta says is among the highest in North America. The indicated resource contains an estimated 4,427 tonnes of in situ gallium, including a higher grade zone of 14.8 million tonnes averaging 56 grams per tonne, although Volta has yet to establish whether gallium can be economically recovered and metallurgical studies are under way.

Springer sits about 70 kilometres east of Sudbury with direct highway access, on site power and nearby natural gas and rail infrastructure, and a low strip ratio that could support future development. By combined measured and indicated tonnage, the company ranks the project fifth among North American rare earth projects on S and P Global Market Intelligence data, a ranking that measures size rather than grade, metallurgy, cost or maturity.

“We believe Springer is shaping up as one of the few large, road accessible sources of magnet rare earths, and potentially gallium, in North America, at a time when the market is paying a premium for supply from outside China,” president and chief executive Kerem Usenmez said. Volta plans further drilling and is targeting a preliminary economic assessment in the first half of 2027, which will be the first test of mining and processing costs against the resource.

Volta more than doubles Springer rare earth resource

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