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Silver47 Launches Drilling on the Eastern Extension of the Tonopah High Grade Silver District, Hughes Project, Nevada
Drilling to begin with a fence of holes at the Ruby discovery in pursuit of the main high-grade s...
About this update from Silver47 Exploration Corp
[{"type":"text","content":"Silver47 Launches Drilling on the Eastern Extension of the Tonopah High Grade Silver District, Hughes Project, NevadaDrilling to begin with a fence of holes at the Ruby discovery in pursuit of the main high-grade structureVancouver, British Columbia--(Newsfile Corp. - March 23, 2026) - Silver47 Exploration (TSXV: AGA) (OTCQX: AAGAF) (\"Silver47\" or the \"Company\") is pleased to announce that drilling has commenced across the highly-prospective eastern extension of the Tonopah Mining district at the Hughes Project near Tonopah, Nevada (the \"Hughes Project\").Key Highlights:Drilling Underway: A core rig is on site and actively advancing an existing pre-collared hole towards the target horizons. A reverse circulation (RC) rig is expected to arrive shortly and will then drill a series of additional pre-collars, which the core rig will deepen with diamond tails through the target horizons.Aggressive 2026 Campaign Launched: Minimum 7,000 meters of combined RC and diamond drilling targeting the highly prospective eastern extension of Nevada's second-largest historic silver district (Tonopah), focusing on Ruby, Sapphire, and Emerald targets 1.3–4+ km east of the historic district edge.Building on High-Grade Success at Ruby: The drill program kicks off near standout prior intercepts, including 1,450 g/t AgEq (8.41 g/t Au, 813 g/t Ag) over 3.0 m in SUM23-59; mineralization remains open with strong potential for a major high-grade system.Targeting the Primary High-Grade Structure: Drilling will start with a fence of angled holes at the Ruby discovery designed to evaluate the primary high-grade mineralized structure. These drill holes will build on previous results including widespread and intense hydrothermal alteration seen in all holes to date.Fully Financed for Flexibility: The Company holds approximately $54 million in working capital, providing a strong financial position to execute and potentially expand the program based on results.* g/t = grams per tonne; Silver equivalent is calculated using US$20/oz Ag, US$1,800/oz Au with metallurgical recoveries of Ag – 90%, Au – 95%. AgEq = (Ag grade x Ag recovery)+((Au grade x Au recovery) x (Au price / Ag price)).Galen McNamara, CEO, stated: \"2026 is shaping up to be a transformative year for the Hughes Project. In addition to advancing our high-grade resou...