Drilling To Target Depth Extensions Of High-Grade At Mogollon Project

VANCOUVER – Silver47 Exploration Corp. announced the start of a winter drill program at its Mogollon Project located near Silver City, New Mexico. The program will consist of holes testing the depth extents of high-grade silver along the Last Chance Vein. Success in this winter drill program targeting depth extensions below historical ore shoots on the Last Chance Vein may open a vast new search space beneath the old workings at the Mogollon Project. Drill holes in the program were meticulously planned through comprehensive analysis of historical data, aiming to maximize discovery efficiency and ounces per meter drilled.
The Last Chance Mine was historically one of the largest and most continuous producers in the Mogollon District, once supporting a 40-stamp mill and remaining largely unexplored by modern methods. These step-out holes lie outside the current Inferred Mineral Resource of 32.08 Moz silver equivalent (12.12 Moz silver and 0.24 Moz gold) at 367 g/t silver equivalent (139 g/t silver and 2.72 g/t gold) over 2.72 Mt1.
Silver47 is committed to advancing the Mogollon Project, New Mexico’s largest historical silver producer, step by step toward potential future production, delivering economic upside for the area and respecting its proud mining tradition. After the current Mogollon winter program, substantial drilling is expected to start at the Hughes Project in March, followed by an aggressive drilling program at the flagship Red Mountain Project expected to commence in June.
Galen McNamara, CEO, said, “This drilling program at Mogollon targets high-grade extensions below historical ore shoots on the Last Chance Vein, one of the Mogollon District’s major historical producers that once supported a 40-stamp mill. A successful outcome would open significant unexplored depth potential across the entire Mogollon District, largely dormant since the 1942 wartime shutdown. With silver now designated a critical mineral essential for solar, batteries, electronics, and defense, domestic sources are increasingly rare and strategically valuable amid global supply risks. Ongoing exploration success and development could contribute meaningfully to U.S. silver security.”