Search Minerals Inc. (TSX.V: SMY) (OTC: SHCMF) has announced the launch of its 2026 critical rare earth element exploration program in southeastern Labrador. The program will involve channel sampling across three priority targets in the Fox Harbour Volcanic Belt and the collection of 15 tonnes of bulk sample material from the Foxtrot Deposit. This bulk sample is intended to support the company's planned demonstration plant, which will utilize Search's patented Direct Extraction Process.
The exploration program is designed to expand and upgrade resources at the Foxtrot Deposit, advance the Fox Run prospect toward drill readiness, and extend mineralization at Awesome Fox. Additionally, the work will support larger-scale testing of the company's patented Direct Extraction Process, which has been optimized with support from the Department of Energy and Mines, Government of Newfoundland and Labrador, and the Atlantic Canada Opportunity Agency. Interim CEO Jason Macintosh stated that the field season is intended to build momentum toward production as the company advances optimization studies and environmental baseline work across its properties.
Search Minerals controls a belt that is 64 km long and 2 km wide, which is road accessible, on tidewater, and located near three local communities. The company has completed a preliminary economic assessment report with resource estimates for the Foxtrot and Deep Fox deposits. In addition to these deposits, Search is working on four exploration prospects along the belt: Fox Meadow, Silver Fox, Fox Run, and Awesome Fox. The company has also completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining.
The announcement highlights the growing importance of critical rare earth elements for various industries, including electronics, renewable energy, and defense. Rare earth elements are essential components in magnets, batteries, and other high-tech applications. By advancing its exploration and processing capabilities, Search Minerals is positioning itself to contribute to the supply chain for these critical materials. The company's focus on the Port Hope Simpson – St. Lewis CREE District in southeastern Labrador could have implications for the region's economic development and for reducing reliance on foreign sources of rare earth elements.
For more information, the full press release is available at https://ibn.fm/aciDz. The latest news and updates relating to SHCMF are available in the company’s newsroom at https://ibn.fm/SHCMF.
