Blende Silver Corp. (TSX.V: BAG) (OTC: BAGGF) (WKN: A2QKT9) (FSE: BCW1) announced on August 19, 2026, 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 initial drill holes are expected to start within approximately 10 days, focusing on the Central Zone corridor between the West and East Zone deposits.
The program is designed to test whether mineralization extends beyond the currently defined zones, potentially expanding the existing NI 43-101 mineral resource. The company's drill contractor is mobilizing to site to complete equipment inventory and finalize site readiness ahead of drilling.
These holes represent the first drilling to directly test the priority 3D IP chargeability anomalies identified in the company's recently completed survey (see news release dated April 27, 2026). Notably, the anomalies in the Lower Central Zone and New Mountain Top areas are interpreted to be several times greater in areal extent than the chargeability response over the defined West Zone mineralization, which serves as a calibration reference. The company has not yet surveyed beyond the current grid coverage, and these anomalies extend to the edges of the grid.
Historical drilling in the Central Zone (13 holes along the ridge spine toward the East Zone) appears to have been positioned between two distinct chargeability anomalies rather than 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, testing continuity of mineralization between the zones.
“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 company intends to complete as many holes as site and weather conditions allow before the field season concludes in mid-September 2026, with one to two holes anticipated. 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 camp and airstrip are intended to provide the logistical foundation for a larger, more sustained exploration program.
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). A mineral resource estimate prepared in accordance with NI 43-101 at a 1.5% ZnEq cutoff was disclosed in a news release dated May 20, 2021, and has not been updated since. The estimate is based on metal prices that have changed since the effective date, and readers should not rely on it as reflecting current market conditions.
The company's objective is to test whether the resource can be expanded, with no certainty that drilling will result in any increase. 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 as defined by NI 43-101.
Blende Silver Corp. is a Vancouver-based junior resource company focused on silver-zinc-lead exploration and development at its flagship Blende Project, which covers 5,345 hectares and is located approximately 63 km northeast of Keno Hill, Yukon. The property lies within the Keno Hill silver district, and past exploration includes $9.2 million in expenditures and 25,195 meters of drilling in 132 holes, though these figures are historical and not independently verified.
