Update on Saint-Sophie Project & Establishment of EBT
Richmond Hill Resources PLC has commenced exploration at its Saint-Sophie Copper Project in Quebec, engaging IOS Services Géoscientifiques Inc. to manage a 6.7 km² IP survey over priority areas, aiming to identify targets for 2026 fieldwork and potential drilling. The company is also establishing an Employee Benefit Trust, which is expected to hold no more than 10% of the issued share capital. The CEO highlighted the project's significant potential, supported by historical grades and positive copper market fundamentals.
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Update on Saint-Sophie Project
Establishment of EBT
Richmond Hill Resources PLC (AIM: RHR) is pleased to provide an update on exploration activity at the Saint-Sophie Copper Project in Quebec, Canada. IOS Services Géoscientifiques Inc. ("IOS") have been engaged to operate the field exploration program and to lead the technical work, including historic data compilation, target generation, and drill-program planning.
IOS has also been engaged to manage an IP survey over priority areas at Saint Sophie.
The proposed surveys will cover a total of 6.7 km2 on grids that include five known occurrences. The aim of the survey is to identify targets areas for the 2026 field work and possibly future drilling.
Establishment of EBT
Richmond Hill Resources noted its intention to establish an Employee Benefit Trust ("EBT") in its admission document published on 26 September 2025. This process has now commenced and is expected to conclude shortly.
It is expected that ordinary shares held in the EBT from time to time shall not exceed 10 per cent. of the Company's issued share capital from time to time.
Hamish Harris, CEO of Richmond Hill commented
"The Board is pleased to commence work on Saint-Sophie, a project which we believe, based on very high historical grades, to hold significant potential. The recent strong rally in the copper price and long-term fundamentals of the copper market only serve to reinforce the narrative."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.