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
Mackay’s first assays extend Occidental South to 550m with thick but low-grade oxide gold mineralisation.
Mackay Gold & Silver Corp. (MACK) has released the first assay results from its initial 20,000-metre Phase 1 drill program at the Occidental South property in the Comstock District of Nevada. The data covers the first seven of 35 holes completed to date, representing approximately 5,700 metres of the planned total.
The new drill holes serve as step-outs, positioned 150 to 250 metres north of the previously identified mineralized zone at Occidental South. Management states that these results nearly double the strike length to approximately 550 metres, with mineralization remaining open in all directions. True widths are estimated to range between 70% and 95% of the drilled width.
Intersections were calculated using a 0.1 g/t gold cutoff, allowing for up to 20 feet of internal dilution below that grade. Highlighted intercepts include:
- 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.
Mackay Gold & Silver Corp. (MACK) is a pre-resource explorer with a large consolidated land package and historical resources, though it currently holds no NI 43-101-compliant reserve. As the company is not an established producer, drill results remain its primary value driver. This latest release represents genuinely new information, marking the first assay batch from Mackay’s own drilling operations.
The results validate the Occidental South target and extend the strike by 150 to 250 metres, nearly doubling the known length to approximately 550 metres. These openings are described as encouraging but not transformative, consisting of thick, near-surface, low-grade oxide intersections rather than high-grade bonanza hits.
The company’s market capitalization stands at roughly C$267 million, meaning the bar for a drill result to materially re-rate the equity is high. 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 prior to this release. Against the current equity valuation, the results are likely to be read as positive but incremental, rather than as a company-changing discovery.
Mackay Gold & Silver Corp. is a Nevada-focused gold and silver exploration company that has consolidated approximately 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, along with 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 totals 20,000 metres, comprising about 15,000 metres of RC drilling at Occidental South and approximately 5,000 metres of core drilling at the Sutro Tunnel target. The company is exploring, not producing, and has no proven or probable reserves.