Blende Silver Corp. (TSX.V: BAG) (OTC: BAGGF) (FSE: BCW1) announced that the Yukon Department of Energy, Mines and Resources has granted the Company a Class 3 Quartz Mining Land Use Approval (Approval No. LQ00608) for its 100%-owned Blende Silver-Zinc-Lead Project in north-central Yukon. The approval, effective July 13, 2026, and valid through July 12, 2031, provides a five-year permitting window for advanced exploration across the project, covering all 260 quartz claims.
The Class 3 approval represents the final major permit required for the Company to execute its planned multi-year exploration programs. Key highlights include diamond drilling approval across the project area, an operating season from February 1 to September 15 annually, camp facilities for up to 50 persons (supporting up to 11,300 person days of work), a permitted airstrip of 25,000 m², upgrading of 5 km of existing access and construction of 2 km of new road, winter access via the Wind River Winter Road (two round trips per year), and on-site fuel storage to support sustained drilling and camp operations.
Andrew H. Rees, President and CEO, stated: “This approval is a major de-risking milestone for Blende Silver. With a five-year Class 3 permit in hand covering the entire claim package, the Company now has the regulatory certainty to plan and execute sustained, multi-season drill programs at what is the largest carbonate-hosted silver-zinc-lead deposit in Yukon. The permitted airstrip and camp infrastructure will materially improve the efficiency and cost profile of our field operations. Combined with the district-scale targeting work currently underway with Ronacher McKenzie Geoscience, Blende is now positioned to advance aggressively toward resource growth.”
The Company acknowledged the First Nation of Na-Cho Nyak Dun, on whose traditional territory the Blende Project is located, and committed to responsible exploration, progressive reclamation, and full compliance with all conditions of the approval, including wildlife, heritage, and environmental protection measures.
The Blende Project hosts the largest carbonate-hosted silver-zinc-lead deposit in the Yukon (M. Robinson and C.I. Godwin, Economic Geology 1995). A mineral resource estimate prepared in accordance with National Instrument 43-101 at a 1.5% ZnEq cutoff, as disclosed in the Company’s news release dated May 20, 2021, is reproduced below. The estimate was prepared by Sue Bird, P.Eng., of Moose Mountain Technical Services, an independent Qualified Person. The mineral resource estimate is reported at a 1.5% ZnEq cutoff based on metal price, exchange rate, recovery, and cost assumptions set out in the May 20, 2021 news release, including silver at US$26 per ounce, zinc at US$1.30 per pound, and lead at US$1.00 per pound. The Company has not updated the estimate to reflect current metal prices.
The mineral resource estimate is based on historical exploration that defined the East and West Zones, two primary mineralized zones located approximately two kilometers apart. With the Class 3 approval in hand, the Company intends to plan and advance exploration programs across the Blende Project over the coming seasons, subject to the conditions of the approval and applicable regulatory requirements.
Blende Silver Corp. is a Vancouver-based junior resource company focused on silver-zinc-lead exploration and development at its flagship Blende Project in north-central Yukon. The 100% owned property is the largest carbonate-hosted Ag-Zn-Pb deposit in Yukon and one of the largest undeveloped carbonate-hosted Ag-Zn-Pb deposits in Western Canada. The property covers 5,345 hectares, is winter road accessible, and is located approximately 63 km northeast of Keno Hill, Yukon. The property lies within the Keno Hill silver district, one of Canada’s highest-grade historic silver producing districts, currently being advanced by Hecla Mining Company. The property has undergone more than $9.2 million in past exploration ($5.2 million by Blende Silver), including 25,195 meters of drilling in 132 drill holes.
