Blende Silver Corp. (TSX.V: BAG) (OTC: BAGGF) (WKN: A2QKT9) (FSE: BCW1) has mobilized field crews to its 100%-owned Blende Silver-Zinc-Lead Project in north-central Yukon to commence the first phase of drilling targeting the project's 3D induced polarization (IP) chargeability anomalies. The first drill holes will test the Central Zone, the approximately 2 km corridor between the Company's West Zone and East Zone deposits, and are expected to commence within approximately 10 days.
The upcoming holes are the first drilling to directly test the priority 3D IP chargeability anomalies identified in the Company's recently completed survey. As previously disclosed, the survey identified a chargeability response coincident with low resistivity over the West Zone, which is used as a calibration reference. Notably, the survey also identified multiple significantly larger-scale, untested anomalies in the Lower Central Zone and New Mountain Top areas, which appear to be several times larger than the West Zone response. Both anomalies extend to the edges of the surveyed grid, and the Company has not surveyed beyond current coverage. The combination of a chargeability high with low resistivity is the criterion used to rank these drill targets, as it may indicate sulphide mineralization.
Blende hosts an existing NI 43-101 mineral resource and is one of the larger known carbonate-hosted silver-zinc-lead occurrences in Western Canada. The current drill program is designed to test whether mineralization extends beyond the currently defined zones. Historical drilling in the Central Zone (13 holes) appears to have been positioned between two distinct chargeability anomalies rather than directly testing the strongest responses. The Company's interpretation is that these observations warrant drill testing for possible extensions of mineralization between the West Zone and the East Zone.
“Blende is not a greenfield story. We already hold one of the larger known carbonate-hosted silver-zinc-lead resources in Western Canada, and our objective now is to test whether that resource can be expanded,” said Andrew H. Rees, President and CEO. “Our 3D IP survey identified chargeability anomalies, coincident with low resistivity, that cover a larger area than the chargeability response over the West Zone that anchors our existing resource, and this program puts a drill directly into those targets for the first time. We aim to mobilize equipment over the winter road this winter to build camp and airstrip infrastructure through the coming spring and summer to support a substantially larger, sustained program across a district-scale property. This program is directed at testing for extensions to the existing mineral resource, and there is no certainty that it will result in any increase to that resource.”
The Company has designed a phased approach that matches the seasonal realities of the Project while building toward scale. Phase 1 begins this summer, with the initial holes expected to commence within approximately 10 days, and the Company drilling as many holes as conditions permit (anticipated to be one to two) before this year's field season concludes in mid-September 2026. Drilling into the priority 3D IP targets is planned to resume and expand in spring and summer 2027 following the winter pause. During the winter break, the Company plans to use the seasonal winter road to mobilize equipment to establish camp infrastructure and an airstrip on site. The camp and airstrip are intended to provide the logistical foundation for a larger, more sustained exploration program, improving access, capacity, and operating windows in subsequent phases.
The Blende Project has been described as hosting the largest carbonate-hosted silver-zinc-lead deposit in the Yukon (M. Robinson and C.I. Godwin, Economic Geology, 1995). That characterization reflects information available as at the date of that publication. A mineral resource estimate prepared in accordance with National Instrument 43-101 at a 1.5% ZnEq cutoff, as disclosed in the Company's news release dated May 20, 2021, is reproduced below. The mineral resource estimate was prepared by Sue Bird, P.Eng., of Moose Mountain Technical Services, an independent Qualified Person. The estimate is reported at a 1.5% ZnEq cutoff and is based on metal prices and assumptions set out in the May 20, 2021 news release, including silver at US$26 per ounce, zinc at US$1.30 per pound, and lead at US$1.00 per pound. Metal prices have changed since the effective date of the estimate, and the estimate has not been updated to reflect current prices. Readers should not rely on the estimate as reflecting current market conditions.
The scientific and technical information in this news release has been reviewed and approved by Dr. Sarah Palmer, P.Geo., an independent consultant to the Company and a Qualified Person as defined by National Instrument 43-101.
