Blende Silver Corp. (TSX.V: BAG) (OTC: BAGGF) announced that the Yukon Department of Energy, Mines and Resources has granted the company a five-year Class 3 Quartz Mining Land Use Approval for its 100%-owned Blende Silver-Zinc-Lead Project in north-central Yukon. The approval, effective July 13, 2026, and valid through July 12, 2031, covers all 260 quartz claims and represents the final major permit required for the company to execute its planned multi-year exploration programs.
According to the company, the approval allows for diamond drilling across the project area, with an operating season from February 1 to September 15 annually. The permit includes camp facilities for up to 50 persons, supporting up to 11,300 person days of work, a permitted airstrip (25,000 m2) for enhanced air access, upgrading of 5 km of existing access road and construction of 2 km of new road, winter access via the Wind River Winter Road (two round trips per year), and on-site fuel storage to support sustained operations.
Andrew H. Rees, President and CEO of Blende Silver Corp., stated: “This approval is a major de-risking milestone for Blende Silver. With a five-year Class 3 permit in hand covering the entire claim package, the Company now has the regulatory certainty to plan and execute sustained, multi-season drill programs at what is the largest carbonate-hosted silver-zinc-lead deposit in Yukon. The permitted airstrip and camp infrastructure will materially improve the efficiency and cost profile of our field operations. Combined with the district-scale targeting work currently underway with Ronacher McKenzie Geoscience, Blende is now positioned to advance aggressively toward resource growth.”
The Blende Project hosts the largest carbonate-hosted silver-zinc-lead deposit in the Yukon, according to a 1995 Economic Geology study by M. Robinson and C.I. Godwin. A mineral resource estimate prepared in accordance with National Instrument 43-101 and disclosed in a news release dated May 20, 2021, reported resources at a 1.5% ZnEq cutoff, based on metal prices of silver at US$26 per ounce, zinc at US$1.30 per pound, and lead at US$1.00 per pound. However, the company noted that metal prices have changed since the effective date and the estimate has not been updated. Historical exploration defined the East and West Zones, two primary mineralized zones located approximately two kilometers apart.
The company acknowledged the First Nation of Na-Cho Nyak Dun, on whose traditional territory the Blende Project is located, and expressed commitment to responsible exploration, progressive reclamation, and full compliance with all conditions of the approval, including wildlife, heritage, and environmental protection measures.
With the Class 3 approval in hand, Blende Silver intends to plan and advance exploration programs across the project over the coming seasons, subject to the conditions of the approval and applicable regulatory requirements. The Blende 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, one of Canada’s highest-grade historic silver producing districts, currently being advanced by Hecla Mining Company. The property has undergone more than $9.2 million in past exploration, including 25,195 meters of drilling in 132 drill holes.
This news release contains forward-looking statements within the meaning of applicable Canadian securities legislation, including statements regarding future work programs and the company’s plans and expectations. Readers are cautioned not to place undue reliance on forward-looking information. The company undertakes no obligation to update forward-looking statements except as required by law.
