Reward Minerals Unveils High-Grade Copper Targets at Newly Acquired Copper Lance Project
Reward Minerals has secured 100% ownership of the Copper Lance Project in Newfoundland, initiating field sampling to validate historic high-grade copper, silver, and gold mineralisation. The project reveals multiple undrilled anomalies and new exploration targets in a prolific VMS district.
- Definitive Asset Purchase Agreement executed for Copper Lance Project acquisition
- Historic data compilation completed; field sampling commenced mid-November 2025
- High-grade copper, silver, and gold mineralisation confirmed in historic rock chip samples
- Multiple new geochemical and geophysical targets identified for immediate follow-up
- No drilling undertaken yet; assays expected in December and January
Strategic Acquisition in a Proven VMS Province
Reward Minerals Limited (ASX, RWD) has taken a significant step by executing a Definitive Asset Purchase Agreement to acquire 100% of the Copper Lance Project, situated in central western Newfoundland, Canada. This acquisition places Reward firmly within one of the world’s most prolific volcanogenic massive sulphide (VMS) provinces, known for hosting over 40 base and precious metal deposits. The project’s location, approximately 600km west of St John’s and close to Deer Lake with its international airport, offers logistical advantages for exploration activities.
Encouraging Historical Data and Immediate Field Work
Reward has completed a comprehensive compilation of historical geological and geochemical data, revealing multiple undrilled copper anomalies and high-grade mineralisation zones. Notably, historic rock chip samples from the Hinds Lake Spillway area returned assays as high as 42% copper, 4.05 ounces per tonne silver, and 0.45 grams per tonne gold. These results, alongside new geochemical and geophysical targets identified within prospective volcanic rocks, have prompted Reward to commence a field sampling program on 17 November 2025.
Exploration Strategy and Next Steps
The current exploration program focuses on confirming historic high-grade rock chip results and key copper anomalies from previous base of till and soil sampling campaigns. Reward’s geological team is also conducting new sampling over magnetic anomalies and mapping prospective volcanic rock units. The company plans to complete this initial fieldwork by early December, with assay results anticipated through December and January. These results will inform a priority target ranking and guide a more extensive exploration program in 2026.
Broader Portfolio and Technology Development
While Copper Lance is a new addition to Reward’s portfolio, the company continues to advance its flagship Beyondie SOP Plant in Western Australia, alongside other mineral projects including Carnarvon Potash, Warroora Gypsum, Kalgoorlie Gold, and North Bore Copper. Reward is also progressing its proprietary processing technologies toward commercialisation and exploring joint venture opportunities in related sectors such as solar salt and seawater desalination.
Balancing Opportunity with Caution
Despite the promising historical data and strategic location, it is important to note that none of the Copper Lance targets have been drilled by Reward, and the historic sampling lacks modern quality assurance protocols. The upcoming assay results will be critical in validating the project’s commercial potential. Reward’s ability to leverage existing infrastructure for cost-effective exploration adds a practical edge to its approach.
Bottom Line?
As Reward Minerals advances its Copper Lance exploration, the market awaits assay results that could unlock significant value in this underexplored VMS district.
Questions in the middle?
- Will the upcoming assay results confirm the historic high-grade copper and precious metal values?
- How will Reward prioritise targets for drilling once initial sampling results are received?
- What potential synergies exist between Reward’s Copper Lance Project and its other mineral and processing ventures?
