Announcement • Jul 08
Silverco Mining Reports Additional Underground and Initial Surface Assay Results from Cusi Property
Silverco Mining Ltd. reported additional underground assay results and initial surface 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. Results included in this release are from underground drilling at Promontorio, the first of three planned mining zones at Cusi. Drilling in this zone has been focused on infilling highly prospective areas that are planned for mining in the first year of operations which required additional drilling to be included in the resource and mine plan. These second set of drill results from the 2026 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 second set of drill holes in this area include: UGCU26-08 - 1,100 g/t Ag, 1.61 g/t Au, 0.80% Pb and 0.52% Zn or 1,080 g/t AgEq over 10.3 metres, including 6,452 g/t AgEq over 0.7 metres; UGCU26-07 - 198 g/t Ag, 0.31 g/t Au, 0.76% Pb and 0.59% Zn or 217 g/t AgEq over 7.7 metres; UGCU26-08 - 234 g/t Ag, 0.89 g/t Au, 0.34% Pb and 0.36% Zn or 260 g/t AgEq over 5.5 metres; UGCU26-05 - 247 g/t Ag, 0.07 g/t Au, 0.27% Pb and 0.31% Zn or 236 g/t AgEq over 5.4 metres; UGCU26-06 - 134 g/t Ag, 0.11 g/t Au, 0.59% Pb, and 0.60 % Zn or 148 g/t AgEq over 8.2 metres. The width and high-grade silver intersected in UGCU26-08 are encouraging, but equally encouraging is the exceptionally high gold grade within this intercept of 16.15 g/t gold over 0.7 metres. In epithermal systems, elevated gold grades are characteristic of the upper levels of the system. This intersection suggests that the upper portions of the epithermal system are present at Promontorio, highlighting the potential for significant untested vertical extent at depth. These results also support the Company's geological concept of a preserved, down-thrown mineralization east of the Cusi Fault. 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 and Promontorio; (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 resources in these areas and in new target areas as part of the planned First Half 2027 Cusi resource update. Detailed drill results, along with notable assays results are provided in Tables 1 and 2. Table 1: Significant Assay Results from the 2026 Drill Program: UGCU26-05 Promontorio 36.3-38.9 2.6 1500 0.02 0.40 0.77 159; UGCU26-05 Promontorio 45.3-50.6 5.4 247 0.07 0.27 0.31 236; UGCU26-05 Promontorio 112.7-114.2 1.5 93 0.17 0.43 1.09 119; UGCU26-05 Promontorio 212.0-214.6 2.6 76 0.09 4.40 1.71 194; UGCU26-05 Promontorio 224.0-227.3 3.3 106 0.09 0.63 1.68 143; UGCU26-06 Promontorio 39.9-48.1 8.2 134 0.11 0.59 0.60 148 incl. 43.3-43.6 0.3 443 0.28 7.91 2.09 611; UGCU26-07 Promontorio 35.9-43.5 7.7 198 0.31 0.76 0.59 217 incl. 36.8-37.7 0.9 731 1.83 1.37 1.39 1,002; UGCU26-08 Promontorio 46.2-56.5 10.3 1,100 1.61 0.80 0.52 1,080 incl. 51.0-53.1 2.1 3,199 6.01 1.69 1.26 3,178 incl. 52.0-52.7 0.7 6,350 16.15 2.49 2.14 6,452; UGCU26-08 Promontorio 78.3-83.8 5.5 234 0.89 0.34 0.36 260. 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 ~82% on average based on vein orientation observed in drill core and modelled veins; however, actual true widths may vary with additional drilling.
