Blende Silver Corp. (TSX.V: BAG) (OTC: BAGGF) (WKN: A2QKT9) (FSE: BCW1) 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 initial drill holes will test the Central Zone, an approximately 2 km corridor between the Company's West Zone and East Zone deposits, and are expected to commence within about 10 days.
This program marks a significant step for the Company as it aims to test whether mineralization extends beyond the currently defined zones. Blende already 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 upcoming holes will be the first to directly test the chargeability anomalies identified in the recently completed 3D IP survey, notably in the Lower Central Zone and New Mountain Top areas, where the interpreted chargeability anomalies are several times greater in areal extent than the chargeability response over the defined West Zone mineralization.
Andrew H. Rees, President and CEO, emphasized the significance of the program: "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." He added, "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 3D IP targeting model. Phase 1 begins this summer, pauses over the winter, 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 upcoming drilling will test the interpretation that historical drilling in the Central Zone (13 holes drilled along and down the spine of the ridge toward the East Zone) may have been positioned between two distinct chargeability anomalies, rather than directly testing the strongest responses. The Company's objective is to test for possible extensions of mineralization between the West Zone and the East Zone, and continuity of mineralization between the zones will be tested by this drilling campaign.
According to the Company's news release, the chargeability anomalies identified in the 3D IP survey are coincident with low resistivity, a criterion used to rank drill targets as that combination may indicate sulphide mineralization. The survey identified a chargeability response over the West Zone that serves as a calibration reference, while also identifying multiple significantly larger-scale, untested anomalies that extend to the edges of the surveyed grid. The Company has not surveyed beyond the current grid coverage.
The Blende Project has been described as hosting the largest carbonate-hosted silver-zinc-lead deposit in the Yukon, based on historical publications. The property covers 5,345 hectares, is winter road accessible, and is located approximately 63 km northeast of Keno Hill, Yukon, within the Keno Hill silver district. The project has undergone more than $9.2 million in past exploration, including 25,195 meters of drilling in 132 drill holes.
The mineral resource estimate for the Blende Project, prepared by Sue Bird, P.Eng., of Moose Mountain Technical Services, and disclosed in the Company's news release dated May 20, 2021, remains unchanged. The estimate is reported at a 1.5% ZnEq cutoff and is based on metal prices from that time. The Company has not updated the estimate to reflect current prices and advises readers not to rely on it 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 and a Qualified Person under National Instrument 43-101.
