Canadian Phosphate extends Wapiti strike length to 9km

• Canadian Phosphate extended its Wapiti Phosphate Project mineralisation strike to 9km following exploration drilling in British Columbia.
• The exploration results provide immediate operational clarity as drilling remains on budget with 18 drillholes completed.
• The company plans to allocate additional funds to expand drilling beyond its original 3,000-metre programme to boost resource growth potential.

Canadian Phosphate (ASX:CP8) extended the mineralisation strike at its Wapiti Phosphate Project in British Columbia to 9km after completing 18 drillholes totalling 2,638m.

The news marks direct progress from the company's previous update, which confirmed a visual phosphatic horizon before subsequent drilling intersected the seam further south.

Managing Director Daniel Gleeson commented, “Each stage of drilling has provided valuable new information regarding the structure, geometry and continuity of the phosphate horizon and has allowed us to progressively refine our geological model.”

The drilling programme remains within its original financial allocation while generating geological data to refine target modelling.

Eight of the latest nine completed drillholes intersected the targeted Main Zone along the eastern limb of the Red Deer Syncline, while hole WP26-016 was abandoned due to overburden difficulties.

The company stated that the findings will allow it to expand drilling past the initial 3,000-metre target and conduct high-resolution LiDAR surveys across the property.

Following the announcement, the Canadian Phosphate share price was unchanged at $0.14.

The project updates build on a broader expansion strategy that recently included acquiring the Diamond Mountain Phosphate Project in Utah and securing dual-listing trading on the US OTCQB exchange.