Critical Minerals Co.'s Survey Outlines 3-4 km Chargeability Anomaly at Max Copper-Gold Target

Important Disclosures:

1. Adamera Minerals Corp. is a billboard sponsor of Streetwise Reports. The company pays a monthly sponsorship fee of US$3,000–US$6,000 for banner advertising and an enhanced company profile page. Streetwise Reports’ editorial content is fully independent and is not influenced by sponsorship. 
2. As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Adamera Minerals Corp.
3. Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
4. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

For additional disclosures, please click here.

1. Disclosure for the quote from the Stewart Thomson article published on September 25, 2026

1. Adamera Minerals Corp. has paid Street Smart (an affiliate of Streetwise Reports) a fee of US$3,500 for the preparation of an independent technical research report, published on September 25, 2026.
2. Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. Mr. Thomson is not an investment advisor. He does not know the financial situation or risk tolerance of any reader. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts. The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed. Mr. Thomson owns no securities in Adamera Minerals Corp., and he has no direct financial relationship with the company.

2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Adamera Minerals Corp. (ADZ:TSX.V; DDNFF:OTCMKTS) has received inverted induced polarization (IP) chargeability data for the first eight survey lines at its Max copper-gold target on its South Hedley project in British Columbia, with surveying of the final line underway.

Key Investor Takeaways

• Recent inverted IP data outlines a continuous high-chargeability anomaly at Max expected to span 3-4 km (kilometers) north-south once the final line is processed.
• The anomaly aligns with copper-gold soil anomalies and a buried magnetic intrusive, supporting a porphyry exploration model.
• Soil sampling results from 2026 remain pending and will be integrated with the full IP and magnetic datasets for drill targeting.
• South Hedley sits in the Quesnel trough, 18 km from Hudbay Minerals Inc.'s (HBM:TSX; HBM:NYSE) Copper Mountain mine, providing district-scale context for copper-gold potential.
• Drill permits for Max and Glix targets were submitted in February 2026, positioning the company for potential follow-up work once approvals are received.
• The company also maintains a tungsten portfolio in Washington state, targeting the critical metals supply.

Inverted IP Data at Max Target

The inverted data reveals a continuous body of high chargeability extending from line L1800 to L4200, with values up to 77 millivolts per volt. The anomaly weakens on L1400 in the west and shows weakening on L4600 in the east. Once L5000 is complete, the chargeability anomaly is expected to measure three to four km north to south and 3.2 to 3.6 km east to west, with some lines remaining open to the north.

In the release, President and CEO Mark Kolebaba stated that the data confirms a large, continuous chargeability body at Max, part of the South Hedley project, supported by copper and gold in soils, plus a buried magnetic intrusive target, pointing to a possible porphyry system under cover. The company plans to combine the full IP dataset with magnetics and pending soil results from approximately 2,000 samples to select additional drill targets. The release also stated that drill permit applications for Max and the nearby Glix target were submitted in February 2026.

South Hedley is a copper-gold property consisting of approximately 25,000 hectares between Princeton and Hedley, BC. Previous soil sampling at Max returned up to 1,450 ppm copper (Cu) and 1.34 g/t gold (Au), while magnetic modeling indicates a buried intrusive body starting at roughly 110 m (meters) depth.

The Max target lies in the same Quesnel trough geological setting as Hudbay Minerals' Copper Mountain mine, approximately 18 km away. The ongoing IP survey at Max is designed to delineate a potential porphyry-style system under cover, with chargeability anomalies aligning with soil geochemistry and magnetics. Hudbay's operation provides a regional benchmark for copper-gold porphyry potential in the district.

Adamera Aiming for Critical Metals, Including Copper and Tungsten

Copper demand is expected to rise as investment in data centers, power grids, electric vehicles, and defense applications continues to expand. A 2026 study by S&P Global projected that global copper demand would grow from approximately 28 million metric tons in 2025 to 42 million metric tons by 2040, an increase of about 50%. The study cited core economic activity and the energy transition as the main drivers of additional consumption, while identifying AI data centers and defense as emerging sources of demand.

Supplying the additional copper will be a significant challenge. In the January 2026 report, S&P Global warned that the market could face a shortfall of approximately 10 million metric tons by 2040 without substantial new supply. The report projected that mined copper production could peak around 2030 before declining as existing mines age, with recycled copper expected to offset only part of the increase in demand. The International Energy Agency also tracks copper as a critical mineral, with its 2026 Critical Minerals Data Explorer providing updated demand projections across several energy and technology scenarios.

U.S. trade policy has added another variable to copper markets and inventory levels. On April 2, 2026, the White House revised the Section 232 tariff regime for copper, along with other metals, so that applicable duties would generally be based on the full customs value of covered products rather than only their metal content. The proclamation established additional duties ranging from 10% to 50%, depending on the product, its origin, and its treatment under the relevant provisions.

Technical Analyst Stewart Thomson assigned the company a "Speculative Buy" rating.¹

The tariff changes have contributed to unusual shifts in copper imports and inventories. In August 2026, Reuters reported that U.S. copper imports had reached 885,000 metric tons in the first half of the year, while COMEX inventories climbed to a record 675,185 tons as traders responded to the prospect of future tariffs on refined copper. At the same time, London Metal Exchange copper prices approached record levels, underscoring how U.S. tariff expectations have affected the distribution of available metal amid broader concerns about supply disruptions and growing demand.

Domestic production is another factor shaping the U.S. copper market. The U.S. Geological Survey's 2026 Mineral Commodity Summaries estimated U.S. mine production at approximately 1 million metric tons in 2025, down from 1.05 million metric tons in 2024. Refined copper production was estimated at 850,000 metric tons. Copper was also added to the U.S. critical minerals list in 2025.

Adamera also explores for tungsten, a specialty metal that has recently posted gains exceeding those of several larger commodity markets. According to Mining.com, Project Blue estimated the tungsten market's value at approximately US$16 billion in 2026, equivalent to roughly 5% of the copper market at prevailing prices. The publication noted that tungsten's market is more opaque and less liquid than those of commodities traded on major exchanges, yet its gains over the preceding year had significantly outpaced those of gold and oil. Tungsten is used in military applications, including munitions, and has attracted attention for its role in defense supply chains amid heightened geopolitical tensions.

Thomson Sets Short-, Medium-, and Long-Term Targets

¹Technical analyst Stewart Thomson reviewed Adamera on September 25, 2026, drawing attention to the company's 1.6-kilometer Max copper-gold chargeability anomaly, pending drill permits, and anticipated soil assay results. Thomson described Adamera as "well-positioned at the inflection point between geophysical discovery and first drilling" and noted several potential catalysts on the horizon. He assigned the company a "Speculative Buy" rating, with short-, medium-, and long-term price targets of CA$0.80, CA$1.65, and CA$2.40, respectively.

Thomson also highlighted technical indicators on Adamera's chart, including a bull wedge pattern, a rising relative strength index (RSI), and buy signals from the stochastic oscillator and moving average convergence divergence (MACD). He cited drill-permit approvals, soil assay results, further induced polarization (IP) surveying, and exploration of the Bromley claims as potential catalysts.

Catalysts Continuing into 2027

Adamera continues to refine targets at South Hedley with low-cost methods while permits advance, setting the stage for potential drilling on both the Glix skarn and Max porphyry targets in a district with established production nearby. 

Ownership & Share Information²

Adamera Minerals Corp. has a market cap of CA$9.46 million, with 67.63 million shares outstanding. The company's 52-week range is CA$0.05-CA$0.23.

Institutions own 1.13% of shares, while Management & Insiders own 4.64%. The remaining 94.23% of shares are Retail.

Common Questions from Investors

What does the latest IP survey show at the Max target?

The inverted data confirm a large, continuous chargeability body from L1800 to L4200 with peaks up to 77 mV/V, expected to extend 3-4 km north-south and 3.2-3.6 km east-west upon completion of the final line.

How does the Max target compare to nearby operations like Hudbay's Copper Mountain?

Max is located in the same Quesnel trough setting, approximately 18 km from Hudbay Minerals Inc.'s Copper Mountain mine. The geophysical and geochemical signatures at Max are being advanced to test for a similar porphyry-style copper-gold system under cover.

What are the next steps for the South Hedley project?

Completion of line L5000 inversion, integration of pending soil assays with IP and magnetics, and advancement of drill permits submitted in February 2026 for Max and Glix targets.

Does Adamera have other active projects?

Yes, the company is advancing a strategic tungsten portfolio in Washington state alongside its Canadian copper-gold exploration at South Hedley and several drill-ready gold projects.