Bedford Metals Rushes Drill Rigs Back to Sheppard Lake as Winter Surveys Uncover Hotspots

Bedford Metals accelerates 2,000-metre drilling at Sheppard Lake after Phase-3 results reveal high radiometric readings and boron pathfinder signals near the Athabasca Basin margin.

The ice has barely thawed, but Bedford Metals is already sending drill rods back into the ground at its Sheppard Lake uranium project in northern Saskatchewan. The junior explorer has kicked off a 2,000-metre drilling campaign for 2026, targeting the most promising anomalies identified during its recently completed Phase-3 winter fieldwork.

The decision to accelerate comes as the company released full laboratory results from that campaign, which included three radiometric surveys, prospecting work, and roughly 300 metres of diamond drilling. A total of 92 rock samples were sent to the SRC Geoanalytical Laboratory in Saskatoon for analysis.

Boron Signals and Radiometric Spikes Point to Deeper Potential

The data paints a multi-zone picture. At the TZ-1 target zone, radiometric readings hit up to 4,114 counts per second (CPS) with uranium grades of 0.032% U?O?. Adjacent zone TZ-2 West delivered readings as high as 2,350 CPS and 18 parts per million (ppm) of boron.

Boron is considered a key pathfinder element for unconformity-style uranium deposits. Its presence suggests hydrothermal alteration systems typical of the region's most productive ore bodies. President Peter Born described the combination of elevated boron values and strong radiometric signals as a clear signature of a promising mineral system.

The most eye-catching results came from two islands in the centre of Warr Lake. Access was only possible once sufficient ice cover formed in December. The larger eastern island consists of banded pink I-type granite, where radiometric hotspots reached 7,145 and 10,609 CPS. In the so-called Silica Cap Zone, boron values climbed to 16 ppm.

These islands sit within 500 metres of the Athabasca Basin margin, adjacent to a north-south trending fault and an electromagnetic conductor — a structural intersection considered highly prospective for unconformity uranium exploration.

Deep Boron Anomaly Remains Open

Drill hole SHP-25-02 returned average boron values of 50.6 ppm over a roughly 25-metre interval, with a peak of 972 ppm in a short section at approximately 207 metres depth. Uraninite grades remain low for now. However, radiometric anomalies west of the drill area suggest the zone has not yet been fully tested.

The company's 2026 drilling campaign will focus on the highest-priority targets along a four-kilometre electromagnetic conductor that crosses a known shear zone. Such structural settings are where many of the Athabasca Basin's major uranium discoveries have been made, with mineralisation typically hosted in basement rocks along fault systems.

Share Price Under Pressure Despite Exploration Momentum

The exploration urgency stands in stark contrast to Bedford Metals' stock performance. With a market capitalisation of roughly C$15 million, the company remains a classic micro-cap explorer. The shares have lost about 47% over the past year and touched a 52-week low of €0.10, representing a roughly 20% decline since the start of 2025.

There have been faint signs of stabilisation, however. Over the past seven trading days, the stock gained nearly 8%, closing at €0.11 on Tuesday. Whether the new drill results can sustain that recovery depends on whether the radiometric anomalies west of SHP-25-02 translate into economically meaningful uranium grades at depth.

The project covers approximately 13,000 hectares along the southern margin of the Athabasca Basin, one of the world's most prolific uranium-producing regions. The coming weeks will determine whether Bedford's aggressive follow-up programme can turn geological promise into tangible value.