Announcement • Jul 08
BP Silver Corp. Commences Phase 2 Drill Program At the Cosuño Silver Project
BP Silver Corp. announced that its 2,000 meter Phase 2 drill program commenced on June 30, 2026, at its wholly-owned Cosuño Silver Project located in the Department of Potosí, Bolivia. The Program is designed to test the broader scale potential of the Cosuño lithocap-hosted hydrothermal system and build on the positive results of the Company’s Phase 1 drill program. The Program is expected to comprise approximately 20 to 24 diamond drill holes. The first drill hole is currently following up on high-grade silver mineralization intersected at the Pocañita Chica target, where discovery drilling returned 5 m grading 600.40 g/t silver, including 1 m grading 1,655 g/t silver. The Phase 2 drilling forms part of a broader ~8,000 m diamond drilling campaign anticipated for 2026. The aim of the Phase 2 drilling is to: Confirm and expand recently discovered high-grade mineralization at the Pocañita Chica target. Test for potential high-grade and/or broad zones of near-surface silver mineralization within the large, newly defined Jalsuri target cluster. Initial drilling will focus on the Pocañita Chica and the Jalsuri target cluster (Jalsuri, Jalsuri North, and Jalsuri Northeast), where recent geological mapping and sampling programs have identified sixteen breccia and vein structures with a cumulative strike length of approximately 2,100 m. Initial drill testing of the Pocañita Chica target returned the thickest, highest-grade results reported to date at Cosuño - returning 38 m grading 116.39 g/t silver, including 5 m grading 600.40 g/t silver and 1 m grading 1,655 g/t silver. Phase 2 drilling is designed to test the continuity and potential expansion of the mineralization both down dip and along strike. The Program will also include the first drill testing within the Jalsuri cluster, where recent mapping, trenching, and surface sampling have identified multiple priority targets associated with mineralized veins, veinlet swarms, disseminated sulfides, and hydrothermal breccia structures. Focus will be on the Jalsuri North and Jalsuri Northeast targets, which comprise a 1.2 km² core to the target area containing numerous mineralized structures. Individual mineralized veins and hydrothermal breccia zones extend for up to approximately 1,000 m in strike length. BP Silver continues to conduct geological mapping, sampling, and road construction activities across the project area. These efforts have contributed to the identification of numerous new drill targets, contingent on results, and are anticipated to form promising targets for future drill testing. The Company will provide regular updates as drilling progresses and assay results become available. The drone magnetic survey at Cosuño was initially planned to commence in May 2026, following the mobilization of field crews. However, the importation of specialized batteries required to operate the drone was delayed, preventing the survey from proceeding as originally scheduled. The batteries have now arrived in country, and the MAG survey is expected to commence once weather conditions permit. The Cosuño Project comprises a large lithocap-hosted hydrothermal system located in the prolific Potosí silver district of Bolivia. The project is characterized by extensive breccia bodies, vein structures associated with advanced-argillic, sericitic, and intermediate argillic alteration, and widespread silver mineralization. Exploration work completed to date has outlined 10 priority targets distributed along a mineralized trend extending 3.5 kilometres across the property. The technical information contained in this news release has been reviewed and approved by Dr. Stewart D. Redwood, PhD, FIMMM, a Director of the Company and a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. As Dr. Redwood is a director of the Company, he is not independent under National Instrument 43-101.
