Blende Silver Corp. (TSX.V: BAG) (OTC: BAGGF) announced that the Yukon Department of Energy, Mines and Resources has granted a five-year 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, covers all 260 quartz claims and represents the final major permit required for the company to execute its planned multi-year exploration programs.
The Class 3 approval permits diamond drilling 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 (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, and on-site fuel storage. This regulatory certainty allows Blende Silver to plan sustained, multi-season drill programs at what is described as the largest carbonate-hosted silver-zinc-lead deposit in Yukon.
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.”
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.
The Blende Project hosts the largest carbonate-hosted silver-zinc-lead deposit in the Yukon, with a mineral resource estimate prepared in accordance with National Instrument 43-101 as disclosed in the company’s news release dated May 20, 2021. The estimate, prepared by Sue Bird, P.Eng., of Moose Mountain Technical Services, is reported at a 1.5% ZnEq cutoff based on metal price assumptions including silver at US$26 per ounce, zinc at US$1.30 per pound, and lead at US$1.00 per pound. The company noted that metal prices have changed since the effective date and the estimate has not been updated. Historical exploration defined the East and West Zones, two primary mineralized zones approximately two kilometers apart.
With the approval in hand, Blende Silver intends to plan and advance exploration programs across the project over the coming seasons. The company is also conducting district-scale targeting work with Ronacher McKenzie Geoscience. The Blende property covers 5,345 hectares, is winter road accessible, and is located approximately 63 km northeast of Keno Hill, Yukon, within the Keno Hill silver district currently being advanced by Hecla Mining Company. The property has undergone more than $9.2 million in past exploration, including 25,195 meters of drilling in 132 drill holes.
For further details on the mineral resource estimate and project history, refer to the company's news release dated May 20, 2021, available on NewMediaWire.
