Blende Silver Corp. (TSX.V: BAG) (OTC: BAGGF) has announced that field crews are mobilizing 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, expected within approximately 10 days, will test the Central Zone, a roughly 2-kilometer corridor between the West Zone and East Zone deposits.
The program is designed to test whether mineralization extends beyond the currently defined zones. The company's drill contractor is mobilizing to site to complete equipment inventory and finalize site readiness. These holes will represent the first drilling to directly test the priority 3D IP chargeability anomalies identified in a recently completed survey, particularly in the Lower Central Zone and New Mountain Top areas, where interpreted chargeability anomalies are several times greater in areal extent than the chargeability response over the defined West Zone mineralization.
“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.”
The Company intends to complete as many holes as site and weather conditions allow before the current field season concludes in mid-September 2026, anticipated to be one to two holes. These holes are the first phase of a planned multi-phase drill program built around the company's 3D IP targeting model. Phase 1 begins this summer, pauses over the winter period, and is planned to resume and expand in spring and summer 2027.
During the winter break, the Company plans to mobilize equipment over the seasonal winter road to establish camp infrastructure and an airstrip, positioning the project for an expanded exploration program in subsequent phases. The project is winter road accessible, and the camp and airstrip are intended to provide the logistical foundation for a larger, more sustained exploration program.
The upcoming holes will test chargeability anomalies interpreted from the 3D IP survey. The survey identified a chargeability response coincident with low resistivity over the West Zone, which the company uses as a calibration reference. Multiple significantly larger-scale, untested anomalies (notably in the Lower Central Zone and New Mountain Top areas) 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 the current grid coverage. A chargeability high coincident with low resistivity is the criterion used to rank these drill targets, as that combination may indicate sulphide mineralization.
Prior review of inversion data indicated that historical drilling in the Central Zone (13 holes drilled along and down the spine of the ridge toward the East Zone) 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. Continuity of mineralization between the zones will be tested by this drilling campaign.
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: 2021 Mineral Resource Estimate (1.5% ZnEq cutoff). The mineral resource estimate was prepared by Sue Bird, P.Eng., of Moose Mountain Technical Services, an independent Qualified Person. The estimate was prepared in accordance with the 2014 CIM Definition Standards and the 2019 CIM Best Practices Guidelines. The mineral resource figures in this news release are reproduced from that disclosure and have not been updated.
Historical exploration defined the East and West Zones, two primary mineralized zones located approximately two kilometers apart. The property covers 5,345 hectares, is winter road accessible, and is located approximately 63 km northeast of Keno Hill, Yukon. The Blende property lies within the Keno Hill silver district, one of Canada's highest-grade historic silver producing districts, currently being advanced by Hecla Mining Company. Mineralization at Keno Hill and on other properties near the project is not necessarily indicative of mineralization on the project. The property has undergone more than $9.2 million in past exploration ($5.2 million by Blende Silver), including 25,195 meters of drilling in 132 drill holes. The historical expenditure and drilling figures are derived from historical records that the company has not independently verified, and a Qualified Person has not done sufficient work to verify them, so they should not be relied upon.
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. Blende Silver Corp. is a Vancouver-based junior resource company focused on silver-zinc-lead exploration and development at its flagship Blende Project. The company's objective is to test whether the existing resource can be expanded through this phased drill program.
