Canadian Phosphate Extends Wapiti Phosphate Strike by Over 3km

Wapiti Phosphate Zone Extended by Over 3km

Canadian Phosphate Limited (ASX:CP8) has kicked off its 2026 drilling campaign at the Wapiti Phosphate Project in British Columbia with a promising start. The first eight diamond drillholes, totaling 1,051 metres, have intersected the targeted phosphate Main Zone in every hole, extending the known strike length by more than 3 kilometres to the south beyond previous historical drilling.

This extension was confirmed visually through geological logging, which identified phosphatic pellets, nodules, and a phosphate-rich matrix consistent with historical data. The Main Zone’s apparent thickness remains within the previously reported range of 0.67 to 3.08 metres, although true thickness and grade confirmation await laboratory assay results expected in the September quarter.

Drilling Designed to Test Continuity and Depth

The initial eight holes were drilled from five pads spaced approximately 1km apart along the eastern limb of the Red Deer Syncline. The first three holes tested down-dip extensions, intersecting the Main Zone at depths greater than any historical drilling, up to 158 metres downhole. The subsequent five holes stepped progressively south, confirming the phosphate horizon’s continuity over a strike extension exceeding 3km.

Supporting these geological observations, portable XRF readings and downhole natural gamma surveys recorded elevated responses corresponding with the Main Zone intersections. However, management cautions these are preliminary indicators and not substitutes for comprehensive laboratory assays.

Next Steps Towards Resource Update and Development

With the initial third of the planned 3,000-metre drilling program complete, Canadian Phosphate is focused on completing the remaining holes by September. Samples have been dispatched to AGAT Laboratories in Calgary for analysis, with assay results anticipated in the September quarter. These results will be critical to confirming the grade, mineralogy, and continuity of the phosphate mineralisation.

Looking ahead, the company aims to use the 2026 drilling data to prepare an updated Mineral Resource Estimate for Wapiti by Q4 2026. Concurrently, metallurgical studies are progressing to support dual development pathways targeting both traditional fertiliser products and purified phosphoric acid, broadening the project’s potential market applications.

Strategic Positioning in North American Phosphate Supply

Managing Director Daniel Gleeson highlighted the significance of these early results, noting that the Wapiti Project continues to demonstrate characteristics of a large-scale sedimentary phosphate system. He emphasised that while assays are pending, the visual and pXRF evidence reinforces the project’s potential as a strategically important phosphate source within North America.

These developments come as Canadian Phosphate advances its broader North American ambitions, including the recent acquisition of the Diamond Mountain Project in Utah and a $5.2 million capital raise to fund exploration and development activities across its portfolio. The ongoing Wapiti drilling program is a critical step in underpinning the company’s resource base and supporting future growth strategies.