Core Silver Commences Diamond Drilling at the Touleary Project
Arcus Development advances Touleary VMS drilling as its merger with Core Silver nears closing.
Core Silver Corp. and Arcus Development Group Inc. (ADG) announced the start of a 3,000-meter diamond drilling program at the Touleary Project in the Yukon Territory. This marks the first drilling activity at the site since 2011, with the initial focus on the Discovery Zone (Target-1) to extend historic high-grade copper-gold-zinc-silver intercepts.
Additional targets, specifically Target-4 and Target-8, have been identified based on geophysical and geochemical anomalies, offering approximately 3.5 km of untested strike length.
The release also provided an update on the previously announced plan of arrangement, noting that Arcus shareholders overwhelmingly approved the 1:1 share exchange with Core Silver on August 25, 2026. Closing of the merger is expected shortly upon receipt of final court approval from the Supreme Court of British Columbia and stock exchange approvals. Management highlighted the potential transformative impact of the proposed Northern Access Route infrastructure on future exploration and development logistics.
Arcus Development Group Inc. (ADG) has commenced drilling, a routine follow-up to its September 3 mobilization announcement that aligns with the company's stated 2026 exploration plan. Additionally, the shareholder approval of the Core Silver/Arcus merger marks a significant procedural milestone. The market had already priced in the transaction following the July definitive agreement and June updates.
The news introduces no new financial guidance, unexpected drill results, or surprise capital raises. It confirms operational execution and M&A progression. The impact is positive but incremental, validating management's timeline and maintaining investor confidence ahead of the merger closing.
Core Silver Corp. (CSE:CC) is merging with Arcus Development Group Inc. (TSXV:ADG) through a 1:1 share exchange, creating a diversified exploration company with exposure to the Tintina Gold Belt and Atlin Mining District. Core Silver’s flagship asset is the Blue Property, a silver-heavy CRD-porphyry project in northwestern British Columbia spanning 114,074 hectares. Arcus’s flagship asset is the Touleary Project, a VMS-style polymetallic discovery in Yukon’s White Gold District, comprising 397 contiguous mineral claims.
Historic 2011 drilling at Touleary returned significant intersections, including: - 2.25m @ 7.18% Cu, 3.55g/t Au, 4.30% Zn, 116g/t Ag - 3.17m @ 2.38% Cu, 2.01g/t Au, 1.38% Zn, 32.9g/t Ag
The combined entity aims to leverage a ~$6.5 million CAD cash position and district-scale land package to advance exploration across multiple targets.