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Mackay Gold & Silver Reports 1.00 g/t Gold over 59.4 Meters, 1.15 g/t Gold over 47.2 Meters and 0.97 g/t Gold over 48.8 Meters in 150 to 250 Meter Step-outs Along Strike at Occidental South, Comstock District, Nevada

First assays extend Occidental South to 550m with thick but low-grade oxide gold

By The Northwire Desk — AI Analysis Sep 15, 2026 · 08:01 MACK · 3.04 Mackay Gold & Silver Corp.

Executive Summary

Mackay Gold & Silver reports the first assays from its inaugural 20,000-metre Phase 1 drill program at Occidental South, Comstock District, Nevada.
Assays are reported for the first 7 holes of 35 completed to date, representing about 5,700 metres of the planned 20,000 metres.
Highlighted intercepts as reported:
26MGS001: 48.8 m @ 0.97 g/t Au and 2.92 g/t Ag.
26MGS002: 33.5 m @ 0.68 g/t Au and 4.88 g/t Ag, starting from surface.
26MGS004: 4.6 m @ 2.08 g/t Au and 2.65 g/t Ag in the highlight table, but 8.69 g/t Ag in the significant-intersections table.
26MGS005: 47.2 m @ 1.15 g/t Au and 1.68 g/t Ag, including 4.6 m @ 7.57 g/t Au and 5.54 g/t Ag.
26MGS007: 59.4 m @ 1.00 g/t Au and 9.45 g/t Ag, including 18.3 m @ 1.46 g/t Au and 19.74 g/t Ag; the hole bottomed in mineralization.
The new holes are 150 to 250-metre step-outs north of the prior Occidental South mineralized zone.
Management says the results nearly double strike length to about 550 metres, with mineralization remaining open in all directions.
True width is estimated at 70% to 95% of drilled width.
Intersections use a 0.1 g/t gold cutoff with up to 20 feet of internal dilution below cutoff.

Material Impact

Mackay is a pre-resource explorer with a large consolidated land package and historical resources, but no current NI 43-101-compliant reserve.
The company is not an established producer; drill results are still the primary value driver.
This release is genuinely new information because it is the first assay batch from Mackay's own drilling.
It validates the Occidental South target and extends strike by 150 to 250 metres, nearly doubling the known length to about 550 metres.
The market capitalization is already substantial at roughly C$267 million, so the bar for a drill result to materially re-rate the equity is high.
These openings are encouraging but not transformative: they are thick, near-surface, low-grade oxide intersections rather than high-grade bonanza hits.
The stock had already re-rated earlier in the year on land consolidation and drilling program execution, and was not trading at a deeply depressed level before this release.
Against the current equity valuation, the results are likely to be read as positive but incremental, not as a company-changing discovery.
I would not expect a sustained 15%-plus re-rating on this release alone; the market is more likely to wait for additional step-out assays and evidence of an economic oxide resource.

MACK · Price

Company Overview

Mackay Gold & Silver Corp. is a Nevada-focused gold and silver exploration company.
It has consolidated about 4,747 hectares, or 47.5 square kilometres, in the Comstock District.
The company controls the Silver City Lode, Occidental-Brunswick Lode and Comstock Lode under single ownership.
The district historically produced an estimated 8.2 million ounces of gold and 192 million ounces of silver between 1859 and 1926.
The Silver City acquisition added the Lucerne and Dayton oxide gold-silver deposits with historical S-K 1300 estimates, plus a permitted heap-leach and Merrill-Crowe facility at American Flats.
The Big Bonanza acquisition added the Consolidated Virginia, California, Ophir, Mexican, Union, Sierra Nevada and Utah historic mines.
The current Phase 1 program is 20,000 metres, with about 15,000 metres of RC drilling at Occidental South and about 5,000 metres of core drilling at the Sutro Tunnel target.
The company is exploring, not producing, and has no proven or probable reserves.

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