• Silver47 Exploration Corp. has commenced a fully funded 3-rig drill program at its Red Mountain project in Alaska, targeting expansion of the existing 168.6 million ounce silver equivalent (AgEq) resource.
  • The 2025 campaign aims for approximately 4,000 meters of drilling at Dry Creek and West Tundra Flats, with potential for upsizing based on results.
  • The program also seeks to assess critical minerals potential, including antimony and gallium, alongside high-grade silver-lead-zinc zones.

Silver47 Exploration Corp. has kicked off an aggressive 3-rig drill program at its Red Mountain silver-lead-zinc-VMS project in Alaska, aiming to grow the deposit’s 168.6 million ounce silver equivalent resource. The fully funded campaign is targeting high-grade zones at Dry Creek and West Tundra Flats, with roughly 4,000 meters of drilling planned and the option to expand if early results warrant.

“This program is designed to aggressively extend known mineralization and test for new high-grade shoots,” a company spokesperson said. The focus remains on expanding the resource base while also evaluating potential critical minerals, such as antimony and gallium, which have been identified in prior sampling.

Andrea Valeri, Blackstone’s country chairman for Italy, noted at a recent conference that regulatory stability is key for attracting foreign investment—a sentiment that also applies to Alaska’s mining sector. Silver47’s work on U.S. soil benefits from supportive policies toward critical minerals and domestic supply chains.

The Red Mountain project has seen multiple exploration phases by Silver47 and previous operators, but this drill program marks the most substantial push since the resource update. The company trades on the TSX Venture Exchange as AGA and on the OTC markets as AAGAF.

Industry observers view the drill results as a catalyst for Silver47, potentially triggering an updated resource estimate or attracting strategic partners. “The fact that they’re running three rigs shows confidence in the geology,” said a mining analyst familiar with the project. “If they hit consistent widths and grades, the market will take notice.”

However, junior explorers face inherent risks. Without a deal or positive results, Silver47 would be forced to rely on further equity financings. The company has not disclosed a timeline for assay results, but investors expect initial data within weeks.

Attempts to reach Silver47’s CEO for additional comment were unsuccessful.

Correction: An earlier version of this article misstated the resource size. It is 168.6 million ounces of silver equivalent, not 168.6 million ounces of silver.