Eureka Strips 100 Metres of Oxide at Québec's KM98

Eureka Metals Corp. (CSE: ERKA) said it completed mechanical stripping and channel sampling at the Roadside Target on its KM98 critical minerals project in Québec, exposing roughly 100 metres of bedrock over an average 10-metre width and collecting 39 channel samples, with laboratory results expected in about eight weeks.

Eureka Metals Corp. (CSE: ERKA) has finished the stripping and channel sampling program at the Roadside Target on its KM98 critical minerals project in Québec, exposing a broad panel of massive oxide mineralization and shipping 39 samples to the laboratory. The company also trades in the United States as UREKF on the OTC and OTCQB markets and in Germany as S580 on the Frankfurt exchange.

The work was mechanical rather than drill-based: excavators scraped overburden off bedrock to see what is actually there. According to the company, the stripping uncovered approximately 100 metres of bedrock over an average width of 10 metres, revealing massive oxide mineralization at surface. A further 30-metre western extension was dug out to test the underlying geology beyond the main exposure.

What a 100-metre bedrock strip actually tells an explorer

Stripping and channel sampling sit at the cheap end of the exploration ladder. Instead of paying for a drill rig, crews remove soil and glacial till, wash the rock face, then cut continuous grooves — channels — across the mineralized zone and send the cut material for assay. The technique is common in Québec and eastern Canada, where thin overburden often hides outcrop that is only metres below grass and moss.

The value is twofold. First, a continuous channel measures grade across true width at surface in a way that scattered grab samples cannot; grab samples are selective by nature and are the easiest kind of result to over-read. Second, the exposed face shows structure — the orientation of the mineralization, its contacts, how it behaves along strike — which is exactly what a geologist needs to angle a drill hole properly rather than guessing.

Eureka collected 39 channel samples across the oxide-rich zone, including one seven-metre sampling interval. On a stripped surface of roughly 100 metres by an average 10 metres — about 1,000 square metres of exposure, on an illustrative basis from the company's own dimensions — that sampling density implies a systematic grid rather than a handful of spot checks. The company said the samples are undergoing laboratory analysis, with results expected in approximately eight weeks. Counting forward from the announcement, that points to assays landing around late November 2026, though laboratory turnaround in a busy season is notoriously elastic.

Roadside is the sideshow; Hook is still the main event

Eureka was careful to frame Roadside as an addition rather than a replacement. "The Roadside Target is shaping up as an important additional exploration opportunity at KM98," said Daniel Matthews, the company's chief executive, in the announcement carried by INN Battery Metals.

Preparations continue for the company's planned maiden drill program at the Hook Target — the first time KM98 will be tested at depth. That sequencing matters for how investors should read the next few months. Surface work at Roadside defines a second target; the drill at Hook is what converts a geological story into intercepts that can eventually be modelled. A company with two live workstreams also has two independent chances of news flow, which for a junior explorer is a meaningful part of the pitch.

What the Roadside assays could do, if they come back with meaningful grades over the sampled widths, is force a re-think of the drill budget. Junior boards regularly reallocate metres between targets after surface results arrive, and a strong channel result at a road-accessible target — the name is a clue to its logistics — is the kind of thing that earns metres quickly. A weak result does not kill the project; it simply keeps Hook as the sole near-term catalyst.

Where the shares sit going into the assay window

What the Roadside assays could do, if they come back with meaningful grades over the sampled widths, is force a re-think of the drill budget.

UREKF last traded at 0.21 on Friday, 25 September 2026, down 3.93% on the session from a prior close of 0.22, with the day's range pinned at 0.21 throughout. The currency of the quote was not specified in the feed, and the CSE listing under ERKA prices in Canadian dollars while the OTC line settles in US dollars — a gap North American retail investors in cross-listed juniors routinely trip over.

The move came on a day the broad market rose. The S&P 500 tracker SPY closed at $771.35, up 0.54%; the Nasdaq 100 tracker QQQ finished at $744.50, up 0.46%; and the Dow tracker DIA ended at $517.49, up 0.94%, all as of 20:00 GMT on 25 September. In other words, a sub-quarter stock with a tight range drifted lower while the indices advanced — unremarkable behaviour for an illiquid explorer, where a single modest sell order can set the print.

The eight-week gap is the risk, not the geology

For explorers at this size, the interval between sampling and assay is the most awkward stretch of the calendar. The rock is out of the ground, the news release is written, and nothing further can be said until the laboratory reports. Share prices in that window tend to trade on sentiment toward the underlying commodity basket rather than on anything company-specific.

Three things are worth watching from here:

The Roadside assays — grades and, critically, the widths over which they hold, including how the seven-metre interval reports.
The Hook drill start — whether permitting, rig availability and financing line up for the maiden program as planned.
The wording on oxide type — "massive oxide mineralization" is a description of texture and mineral class, not an assay. The laboratory work is what attaches specific critical minerals to the KM98 story.

Until those numbers arrive, what Eureka has is a well-exposed, well-sampled surface target in a mining-friendly Canadian jurisdiction, and a drill program still ahead of it. That is a legitimate starting position for a junior — and it is also, deliberately, a story with its proof points still in front of it rather than behind.

Key facts

Stock: UREKF last traded at 0.21, -3.93%, as of 20:00 GMT, 25 Sep 2026
Bedrock exposed: ~100 metres of strike over an average 10-metre width at Roadside
Samples: 39 channel samples, including a seven-metre interval
Assay timing: Laboratory results expected in approximately eight weeks

Frequently asked questions

What did Eureka Metals announce at KM98?

Eureka Metals Corp. said it completed a mechanical stripping and channel sampling program at the Roadside Target on its KM98 critical minerals project in Québec. The work exposed roughly 100 metres of bedrock over an average 10-metre width, revealing massive oxide mineralization, and a 30-metre western extension was excavated to examine the underlying geology.

How many samples were taken and when are results due?

A total of 39 channel samples were collected across the exposed oxide-rich zone, including one seven-metre sampling interval. The samples are undergoing laboratory analysis, and the company said results are expected in approximately eight weeks from the announcement, which points to assays arriving around late November 2026 if turnaround holds.

What is channel sampling and why does it matter?

Channel sampling means cutting a continuous groove across a mineralized rock face and assaying the material removed. Unlike selective grab samples, a channel measures grade continuously across width, so it gives a more honest picture of what the rock contains and helps geologists orient future drill holes correctly.

Where does Eureka Metals trade?

Eureka Metals Corp. is listed on the Canadian Securities Exchange under ERKA, trades in the United States on the OTC and OTCQB markets under UREKF, and is listed in Germany on the Frankfurt exchange under S580. The UREKF line last traded at 0.21, down 3.93%, as of 20:00 GMT on 25 September 2026.

What is the Hook Target?

Hook is a separate target on the KM98 project where Eureka is preparing its maiden drill program — the first time the project will be tested below surface. The company said preparations continue for that program even as the Roadside surface work wrapped up, giving it two distinct exploration workstreams at KM98.

Does 'massive oxide mineralization' mean the project has economic grades?

No. The phrase describes rock texture and mineral class — oxide minerals occurring in massive rather than disseminated form — not the metal content. Grades, and which critical minerals are present in what concentration, are established only by laboratory assay of the channel samples, which Eureka expects back in roughly eight weeks.

Sources

Eureka Completes Trenching Across Massive Oxide Mineralization at KM98 — INN Battery Metals