Silver47 Exploration is progressing its Red Mountain Project in Alaska, aiming to update its resource estimate by the end of the year as it merges with Summa Silver. Silver47 Exploration is focused on expanding its silver output across its three wholly-owned deposits in North America. The company has begun a 4,000-metre core drilling program to bolster the project’s inferred resource of 168.6 million ounces of silver equivalent.
The current campaign is designed to enable a preliminary economic assessment of the broader project. Metallurgical work and resource expansion are planned for the Mogollon and Hughes properties. Past drilling at the site has yielded results of up to 2,003 grams per tonne of silver equivalent across 4.26 metres, including 4,432 g/t of antimony and 97 g/t of gallium from a depth of 121.7 metres.
Silver47’s merger with Summa Silver is intended to expand the portfolios of both companies throughout the US, building on overall resources. According to Silver47 CEO Gary Thompson, the completion of the merger will set the company apart from its North American competitors. Post-merger, the combined entity will hold 246 million ounces of silver equivalent across three assets in the US, located in Alaska, Nevada, and New Mexico, with significant near-term growth potential.
Separately, at the Adams Plateau Project, Silver47 has collected 76 rock samples to identify drill targets. Historical exploration at Adams Plateau includes highlights of up to 348 g/t silver, 0.72 g/t gold, 8.5 per cent zinc, and 18.8 per cent lead at 4.8 metres from the Spar target in 1976 drilling.
