Announcement • Jun 16
Silverco Mining Reports Initial Underground Assay Results From its Cusi Property Drill Program
Silverco Mining Ltd. reported initial underground assay results from its 100%-owned Cusi Property in Chihuahua, Mexico. These results are part of the Company's 2026 30,000 metre diamond drill program that is focused on infill, expansion, and exploration at high potential targets across the property. Initial underground drilling at Promontorio, the first of three planned mining zones at Cusi, has been focused on infilling areas that are planned for mining in the first year of operations. The initial results from the 2026 Cusi exploration program are from the Promontorio East veins, an area that boasts exceptional undiluted high-grade material with Measured and Indicated Resource grades of 295 g/t AgEq and Inferred Resource grades of 301 g/t AgEq. This infill drilling is specifically aimed at optimizing mine planning and targeting near-term resource expansion that can be integrated into the short-term mine plan, creating opportunities to enhance economics through reduced development requirements or increased resources available in the areas of planned development. These results were drilled within the first 50 vertical metres of planned development and fall within a 150 metre by 250 metre area of Promontorio that required infilling and was not previously captured in the Preliminary Economic Assessment. Highlights from the first four drill holes in this area include: UGCU-26-01 - 428 g/t AgEq over 1.1 metres; UGCU-26-02 - 1,712 g/t AgEq over 1.4 metres; UGCU-26-03 - 303 g/t AgEq over 8.3 metres; UGCU-26-04 - 160 g/t AgEq over 3.2 metres. The 2026 Cusi exploration program includes 30,000 metres of diamond drilling, split between underground (10,000 metres) and surface drilling (20,000 metres). The program's primary goals are to: (1) Infill prospective areas which are targeted for mining early in the planned restart at Promontorio and San Miguel; (2) Expand known areas of mineralization at San Miguel; (3) Explore prospective targets at San Miguel, Eduwiges, and San Juan. With success, this program will enhance mine planning for the initial years of the planned restart and identify opportunities to increase mineral resources in these areas and in new target areas as part of a planned First Half 2027 Cusi resource update. Detailed drill results, along with notable assays results are provided in Tables 1 and 2. Notes: (1) AgEq = Ag g/t x Ag Recovery + [(Au g/t x Au Rec x Au price/gram)+(Pb% x Pb rec. X Pb price/t) + (Zn% x Zn rec. X Zn price/t)]/Ag price/gram. Metal price assumptions are: $30.00/oz silver, $2,400/oz gold, $1.00/lb lead, $1.35/lb zinc. Metallurgical recovery assumptions are 90% for silver, 50% for gold, 90% for lead, and 60% for zinc. Metallurgical recoveries used in this release are based on historical operational results on the Cusi project. (2) Reported intervals are downhole core lengths. True widths are estimated at ~65-95% based on vein orientation observed in drill core; however, actual true widths may vary with additional drilling. All diamond drill core from the 2026 program at the Cusi Project is logged, photographed, and sawn in half using a diamond blade core saw. One half of the core is submitted for geochemical analysis, while the other half is retained in secure storage for reference. Sampling intervals are determined based on geological boundaries and typically range from 0.3- 1.5 metres. Control samples comprise approximately 18% of all samples submitted, including certified reference standards, analytical blanks, field duplicates, preparation duplicates and analytical duplicates. QA/QC results are reviewed in real time, and all data is verified as meeting acceptable thresholds for accuracy, precision, and contamination before inclusion in this release. Drill core and rock samples are sent to ALS Minerals for analysis with sample preparation in Chihuahua, Mexico and analysis in North Vancouver, British Columbia. Samples remain under Company custody until delivery to ALS; sealed bags are transported by Company personnel to ALS Chihuahua. The ALS Chihuahua and North Vancouver facilities are ISO/IEC 17025 certified. Samples are dried, weighed, and crushed to at least 70% passing 2mm, and a 250 g split is pulverized to at least 85% passing 75 µm (PREP-31). Silver and base metals are analyzed using a four-acid digestion and ICP-AES. Over-limit analyses for silver (>100 ppm), lead (>10,000 ppm), and zinc (>10,000 ppm) are re-assayed using an ore-grade four-acid digestion and ICP-AES (ME-OG62). Samples with over-limit silver assays > 1,500 ppm are analyzed by 30-gram fire assay with a gravimetric finish (Ag-GRA21). Gold is assayed by 30-gram fire assay and AAS (Au-AA23). The scientific and technical information contained in this news release has been reviewed and approved by Nico Harvey, P.Eng., Vice President Project Development of Silverco, a Qualified Person as defined in National Instrument 43-101. Mr. Harvey has reviewed the sampling, analytical and QA/QC data underlying the technical information disclosed herein.
