01:23 PM EDT, 03/25/2026 (MT Newswires) -- ATERRA Metals ( CSSCF ) on Wednesday said it began a 3,000 meter Phase I drill program on its 1,811-hectare Totora Copper-Gold Project, in Chile.

In a statement the company noted the Totora Project hosts four near-surface, copper-gold porphyries with the Phase I drill program focusing on the Totora and Frontera Deposit porphyries.

At the Totora porphyry, a 2,500 m reverse circulation drill program is underway adding to the 10,000 m of historical drilling which outlined a copper-gold porphyry system along a strike length of over 800 m extending from surface to depths of up to 500 meters downhole.

Upon completion of the Totora porphyry drilling, ATERRA plans approximately 500 m of diamond drilling into the Frontera Deposit to confirm historical drilling results in preparation for the updated resource estimate.

The company said considering its focus on its Totora Copper-Gold Project, the Angie Property option agreement has been terminated.

"Now that our geological team has completed re-logging the majority of the historical drill core from the Totora Project, we have gained a more fulsome understanding of the relationship between copper-gold grades and geology (lithologies, alteration and structure)," said chief executive Carl Hansen. "Based upon our review, we have designed a drill program that prioritizes: 1) the confirmation of the historical drill results; and 2) increasing the size of the copper-gold porphyries. Our goal is to publish a resource estimate during the third quarter of 2026 integrating our Phase I drill assay results with the significant historical drilling completed on the Totora Project over the past 15 years."

Shares of the company were last seen up $0.005 to $0.035 on the Canadian Securities Exchange.

Price: 0.04, Change: +0.01, Percent Change: +16.67