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 are expected to commence within approximately 10 days and will test the Central Zone, the roughly 2-kilometer corridor between the Company's West Zone and East Zone deposits.
This program marks a significant step for the Company, which already holds one of the larger known carbonate-hosted silver-zinc-lead resources in Western Canada. The focus is on testing whether mineralization extends beyond the currently defined zones. The upcoming holes will be the first to directly test the priority 3D IP chargeability anomalies identified in a recently completed survey. Notably, the interpreted chargeability anomalies in the Lower Central Zone and New Mountain Top areas are several times greater in areal extent than the chargeability response over the defined West Zone mineralization, which serves as a calibration reference.
“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 3D IP survey, detailed in a April 27, 2026 news release, identified chargeability highs coincident with low resistivity, a combination that may indicate sulphide mineralization. Historical drilling in the Central Zone appears to have been positioned between two distinct chargeability anomalies rather than directly testing the strongest responses, suggesting possible extensions of mineralization between the West and East Zones.
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 Blende Project hosts a NI 43-101 mineral resource estimate prepared at a 1.5% ZnEq cutoff, as disclosed in a May 20, 2021 news release. The resource is anchored by the West and East Zones, which are approximately two kilometers apart. The current drilling aims to test continuity between these zones and potentially expand the resource. However, the Company cautions that there is no certainty that the program will result in any increase to the resource.
The Blende Project has been described in published literature as hosting the largest carbonate-hosted silver-zinc-lead deposit in Yukon (M. Robinson and C.I. Godwin, Economic Geology, 1995). The property covers 5,345 hectares, is winter road accessible, and is located approximately 63 km northeast of Keno Hill, within the historic Keno Hill silver district. Past exploration has included over $9.2 million in expenditures and 25,195 meters of drilling in 132 holes, though these figures are historical and have not been independently verified.
The scientific and technical information in this news release has been reviewed and approved by Dr. Sarah Palmer, P.Geo., an independent consultant and Qualified Person under NI 43-101. The Company's phased approach is designed to match seasonal realities while building toward scale, with the ultimate goal of testing the potential for resource expansion at this district-scale property.
