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Canadian Phosphate Limited (ASX:CP8)

ALERT: Price-sensitive ASX Announcement for CP8
Current share price for CP8 : $0.150 0.045 (42.86%)+
Announcement
Release
19 Aug 2026 10:24AM
Price at Release
$0.105
Full Release
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Summary
Canadian Phosphate Limited reported that the first eight drillholes from the 2026 Wapiti drilling program have successfully intersected the Phosphate Main Zone, extending it by more than 3 kilometers south along the strike. This initial phase represents about one-third of the planned 3,000-meter program. Samples have been dispatched to AGAT Laboratories for analysis, and the results are expected in September 2026. The company aims to update the Mineral Resource Estimate for Wapiti by the end of 2026. The Wapiti Project demonstrates potential as a large-scale sedimentary phosphate opportunity in North America, although true widths for these intersections are not yet defined, pending assay verification.
Key Points
  • First eight drillholes of the 2026 Wapiti drilling program intersected the Phosphate Main Zone.
  • Main Zone extended over 3km south along strike from nearest historical drillhole.
  • The drillholes represent about one-third of the planned 3,000m program.
  • Samples have been sent to AGAT Laboratories for analysis, with initial assay results expected in September 2026.
  • CP8 plans to update the Mineral Resource Estimate for Wapiti in Q4 CY2026.
  • Visual logging identified consistent phosphatic intervals with phosphatic pellets and nodules.
  • The true width of drill intersections has not been defined; assay results are pending.
  • Wapiti Project is highlighted as a large-scale sedimentary phosphate opportunity in North America.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.