FULL DISCLOSURE: Silver47 Exploration is a sponsor of theDeepDive.ca.
Silver47 Exploration (TSXV: AGA) this morning is reporting the discovery of a new high-grade massive sulfide zone at their Red Mountain Project in Alaska. The discovery follows a property-wide prospecting and rock sampling program that was conducted at the property, covering a widely dispersed 60 kilometre trend of silver-rich polymetallic occurrences.
The discovery, referred to as the FOMO Zone, is said to consist of undrilled massive sulfide lenses that are up to 5.0 metres wide at surface in an area that was previously considered to be unmineralized. The discovery of the lenses is said to potentially represent the surface expression of a previously unknown VMS system.
Discovery of the FOMO Zone follows sampling conducted at surface, with highlight results from grab samples including:
- 1,793 g/t silver equivalent (23.2% zinc, 10.05% lead, 2.54% copper, 74 g/t silver)
- 1,138 g/t silver equivalent (9.27% zinc, 11.65% lead, 2.40% copper, 54 g/t silver)
- 972 g/t silver equivalent (8.5% zinc, 7.72% lead, 2.51% copper, 31 g/t silver)
“The discovery of the FOMO Zone – a new, undrilled massive sulfide occurrence in previously untested stratigraphy – along with multiple high-grade surface showings across the 60 km trend, further highlights the Red Mountain Project’s potential to host a cluster of world-class VMS deposits. This property-wide prospecting program has delivered a robust pipeline of priority drill targets, while our 2025 drilling has provided key data for an ongoing mineral resource update,” commented Galen McNamara, CEO of Silver47.
Outside of the FOMO Zone, the prospecting and sampling program is said to have identified multiple high-grade undrilled polymetallic occurrences, confirming that high grade mineralization exists across the over 60 kilometre long prospective trend. The integration of sampling results with historic data has now defined a pipeline of priority targets for first-pass drilling.
In terms of drilling, Silver47 is said to be in the process of preparing a significant summer drill campaign to be conducted in 2026 to test the existing resource areas along with these new high-priority targets at Red Mountain. While specific details of the planned program were not provided, the program is said to be fully funded.
Drilling meanwhile is set to begin in January at the company’s Mogollon project in New Mexico and at the Hughes project in Nevada in March.
“Drilling and non-drilling success at Red Mountain, Adams Plateau and Kennedy continue to demonstrate the high-grade silver and gold potential of these assets. As we look to 2026 resource growth and advanced development it is top of mind. Some milestones for 2026 are as follows; an updated resource at Red Mountain potentially leading into PEA level study; resource growth at Mogollon and Hughes through continued drilling; advance studies on the recovery of silver-gold from tailings at Hughes; further M&A to accelerate our mission of becoming a 1 billion ounce of silver company,” commented Gary Thompson, Executive Chairman of Silver47.
Silver47 Exploration last traded at $1.17 on the TSX Venture.
FULL DISCLOSURE: Silver47 is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Silver47. The author has been compensated to cover Silver47 on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
