First drill hole(s) expected to commence within approximately 10 days as the opening phase of a multi-phase program targeting chargeability anomalies whose interpreted areal extent is greater than that of the chargeability response over the West Zone, which anchors the Company’s existing mineral resource
August 19, 2026
Vancouver, Canada – Blende Silver Corp. (the “Company”) (TSX.V: BAG) (OTC: BAGGF) (WKN: A2QKT9) (FSE: BCW1) is pleased to announce that field crews are mobilizing to its 100%-owned Blende Silver-Zinc-Lead Project (“Blende” or the “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 hole(s) will test the Central Zone, the approximately 2 km corridor between the Company’s West Zone and East Zone deposits and are expected to commence within approximately 10 days.
Highlights
- Blende 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 current drill program is designed to test whether mineralization extends beyond the currently defined zones.
- The Company’s drill contractor is mobilizing to site to complete an equipment inventory and finalize site readiness ahead of drilling.
- These holes will represent the first drilling to directly test the priority 3D induced polarization (IP) chargeability anomalies identified in the Company’s recently completed survey (see news release dated April 27, 2026), 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.
- 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.
First Drilling Into the Priority IP Targets
The upcoming holes will be the first drilling to directly test the chargeability anomalies interpreted from the 3D IP survey. As previously disclosed, the survey identified a chargeability response coincident with low resistivity over the West Zone, spatially associated with the known silver-zinc-lead mineralization, which the Company is using as a calibration reference for interpreting the survey, while also identifying multiple significantly larger-scale, untested anomalies (notably in the Lower Central Zone and New Mountain Top areas) that appear to be several times larger than the West Zone response. Both the Lower Central Zone and New Mountain Top anomalies extend to the edges of the surveyed grid, and the Company has not surveyed beyond the current grid coverage. A chargeability high that is coincident with low resistivity is the criterion the Company has used to rank these drill targets, as that combination may indicate sulphide mineralization.
Prior review of the inversion data also 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 is going to be tested by this drilling campaign.
“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. We aim to mobilize equipment over the winter road this winter to build camp and airstrip infrastructure through the coming spring and summer to support a substantially larger, sustained program across a district-scale property. This program is directed at testing for extensions to the existing mineral resource, and there is no certainty that it will result in any increase to that resource.”
Phased Program and Winter Mobilization
The Company has designed a phased approach that matches the seasonal realities of the Project while building toward scale:
- Phase 1 (commencing summer 2026): The initial holes are expected to commence within approximately 10 days, with the Company drilling as many holes as conditions permit (anticipated to be one to two) before this year’s field season concludes in mid-September 2026. Drilling into the priority 3D IP targets is planned to resume and expand in spring and summer 2027 following the winter pause.
- Winter mobilization: The Project is winter road accessible. During the winter break, the Company plans to use the seasonal winter road to mobilize equipment to establish camp infrastructure and an airstrip on site.
- Expanded program: The camp and airstrip are intended to provide the logistical foundation for a larger, more sustained exploration program, improving access, capacity, and operating windows in subsequent phases.
Project Context and Mineral Resource Base
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)
| Source | Class | Tonnage (kt) | ZnEq (%) | Zn (%) | Pb (%) | Ag (g/t) | NSR (C$/t) | Ox Ratio | Zn (Mlb) | Pb (Mlb) | Ag (Koz) |
| 2021 | Indicated | 4,643 | 4.60 | 1.82 | 1.63 | 30.32 | 101.85 | 0.08 | 187 | 167 | 4,526 |
| 2021 | Inferred | 42,243 | 4.49 | 1.83 | 1.62 | 27.48 | 99.41 | 0.21 | 1,706 | 1,505 | 37,320 |
The mineral resource estimate for the Blende Project was prepared by Sue Bird, P.Eng., of Moose Mountain Technical Services, an independent Qualified Person as defined by National Instrument 43-101, and was disclosed in the Company’s news release dated May 20, 2021. 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.
The mineral resource estimate is reported at a 1.5% ZnEq cutoff and is based on the metal price, exchange rate, recovery, and cost assumptions set out in the Company’s news release dated May 20, 2021, including silver at US$26 per ounce, zinc at US$1.30 per pound, and lead at US$1.00 per pound. Metal prices have changed since the effective date of the estimate, and the estimate has not been updated to reflect current prices. The Company has not undertaken a re-estimation and expresses no view as to the effect, if any, of current metal prices on the estimate. Readers should not rely on the estimate as reflecting current market conditions. Historical exploration defined the East and West Zones, two primary mineralized zones located approximately two kilometers apart.
Qualified Person
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 Standards of Disclosure for Mineral Projects.
About Blende Silver Corp.
Blende Silver Corp. is a Vancouver-based junior resource company focused on silver-zinc-lead exploration and development at its flagship Blende Project in north-central Yukon. The 100%-owned property hosts a carbonate-hosted Ag-Zn-Pb mineral resource that has been described in published literature as the largest of its type in Yukon (M. Robinson and C.I. Godwin, Economic Geology, 1995). That characterization is based on information available as at the date of that publication and has not been independently verified or updated by the Company. 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, a Qualified Person has not done sufficient work to verify them, and they should not be relied upon. A review of historical and recent data has identified areas to the west, north, and east-southeast of the currently defined zones that the Company considers prospective for follow-up exploration.
On behalf of the Board of Directors
“Andrew H. Rees”
Andrew H. Rees
President & CEO
For further information, please contact:
Andrew H. Rees, President & CEO
Tel: 604-669-6463
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the mobilization of equipment and personnel, the anticipated timing and commencement of drilling, the scope, sequencing, and results of the planned multi-phase drill program, the interpretation and significance of the 3D IP survey data and identified chargeability anomalies, plans to mobilize over the winter road and to establish camp infrastructure and an airstrip, the potential for expanded exploration programs, the potential to update the mineral resource estimate, and the Company’s other plans and expectations. These statements are based on assumptions management believes to be reasonable and are subject to known and unknown risks, uncertainties, and other factors, including risks related to mineral exploration and development, the uncertainty of exploration results, weather and seasonal access, availability of equipment and personnel, permitting, and financing, that may cause actual results to differ materially from those expressed or implied. Geophysical anomalies, including IP chargeability responses, are not a direct indication of mineralization and may result from a variety of geological factors; there is no certainty that drilling will intersect economic or sub-economic mineralization. Readers are cautioned not to place undue reliance on forward-looking information. Except as required by applicable securities legislation, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them, and there is no certainty that all or any part of such resources will ever be upgraded to a higher cate