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A summer exploration program has commenced at Silver47 Exploration’s (TSXV: AGA) flagship Red Mountain VMS project in Alaska. A core rig is said to have now arrived on site, with the first drill hole now underway.
The fully funded drill program is expected to see at least 4,000 metres of drilling occur on site, with an upsize to that program expected upon the closing of the acquisition of Summa Silver.
The program is looking to expand the current inferred mineral resource of 168.6 million silver equivalent ounces at the Dry Creek and West Tundra Flats deposits. Current plants call for untested areas near historical high grade intercepts to be drilled, while prioritizing areas that are rich in both silver and gold, however core will be assayed for a series of minerals, including critical minerals such as antimony and gallium.
“We are excited to kick off a significant drill program at our Red Mountain silver-gold-rich VMS project with a view to expanding the resource base and making new discoveries. The results from previous drill holes, including DC24-104, WT24-33 and DC18-77, demonstrate the robust nature of the Bonnifield district, where Red Mountain is located, and we are eager to build on these successes,” commented Gary Thompson, CEO of Silver47.
READ: Silver47 x Summa Silver: Creating An Explorer With A Billion Ounce Goal
The program aims to follow up on a successful campaign experienced in 2024. Drilling last year saw hole DC24-104 intersect 546 g/t silver equivalent, plus 290 g/t antimony and 32 g/t gallium over 15.24 metres, while hole WT24-33 intersected 1,079 g/t silver equivalent plus 920 g/t antimony and 15 g/t gallium over 2.90 metres.
Silver47 last traded at $0.93 on the TSX Venture.
FULL DISCLOSURE: Silver47 Exploration is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is long the equity of Silver47 Exploration. The author has been compensated to cover Silver47 Exploration on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
