Canadian Phosphate Ltd (ASX:CP8) has extended the known strike of the Phosphate Main Zone at its Wapiti Phosphate Project in British Columbia by more than three kilometres, with all eight holes completed so far in the 2026 diamond drilling program intersecting the targeted horizon.
The company has completed 1,051 metres of drilling, representing about 1/3 of a planned 3,000-metre program, with drilling scheduled to finish in September. Samples have been sent to AGAT Laboratories, with initial assay results expected during the September quarter.
The first eight holes, WP26-001 to WP26-008, intersected the target Whistler Member and a visually identified phosphatic horizon including the Main Zone, which the company said is consistent with historical exploration data and geological modelling.
Holes WP26-001 to WP26-003 tested the down-dip extension of historical drilling and intersected the Main Zone at greater downhole depths than previously recorded, reaching up to 158 metres downhole, or about 130 metres vertically below surface.
WP26-004 to WP26-008 then stepped progressively south of historical drilling, with the Main Zone recognised in all 5 holes. WP26-008 intersected the horizon more than 3 kilometres south of the nearest historical drillhole, extending the known strike length by more than 3 kilometres.
Portable XRF readings and downhole natural gamma surveys also recorded elevated responses within the logged Main Zone in each hole, supporting the geological interpretation. However, Canadian Phosphate cautioned that these results are preliminary field indicators and are not a substitute for laboratory assays.
No assay results have yet been received from the 2026 program and laboratory analysis will be required to confirm phosphate grade, mineralogy and continuity. The company also noted that reported intersections are downhole lengths rather than true widths.
Wapiti project
The eight holes were drilled from five pads spaced about 1 kilometre apart along the eastern limb of the Red Deer Syncline, targeting continuity of the Main Zone from areas tested by historical drilling.
Visual logging identified the Main Zone at the base of the Whistler Member above the Vega-Phroso Member, with phosphatic pellets, nodules and clasts, a phosphate-rich matrix and fossil fragments recorded across the holes drilled to date.
The updated drill map on page 5 shows the completed holes extending south from the historical drilling area, as well as a series of planned drill pads continuing further along the project trend.
Canadian Phosphate holds 100% ownership of the Wapiti Project, where the current drilling is being conducted under its Multi-Year Area-Based exploration program.
Next steps
Canadian Phosphate plans to complete the 3,000-metre drilling program before progressing geological logging, sampling and laboratory analysis.
The company intends to report assays as they become available, advance preparation of an updated Mineral Resource Estimate for Wapiti in Q4 2026 and continue metallurgical studies assessing both fertiliser and purified phosphoric acid development pathways.
About Canadian Phosphate
Canadian Phosphate's key assets are the Wapiti and Fernie phosphate projects in British Columbia, Canada, and the Diamond Mountain project in Utah, United States.