Drill Results Routine +

Silver X Intersects 40.71 m True Width at 98.7 g/t AgEq (69.53 g/t Ag, 0.87% Pb, 0.28% Zn) at Blenda Rubia, Including 4.12 m of 274.5 g/t AgEq

Silver X Confirms Broad Silver Corridor at Blenda Rubia, Sustaining Production Ramp Momentum

By The Northwire Desk — AI Analysis Jun 02, 2026 · 07:35 AGX · 0.81 Silver X Mining Corp.

Executive Summary

Silver X Mining Corp. reported underground diamond drill results from hole DDH-BR-016 at the Blenda Rubia target within its Nueva Recuperada Unit in Peru.
The hole intersected a broad 104.20m apparent width (40.71m estimated true width) interval grading 69.53 g/t Ag, 0.87% Pb, 0.28% Zn, and 0.02% Cu (98.7 g/t AgEq).
Internal high-grade veins within the interval include 4.12m at 274.5 g/t AgEq and 2.64m at 172.1 g/t AgEq.
Results confirm down-dip continuity of a broader polymetallic mineralized corridor approximately 60 meters below historic workings, supporting the potential for wider mining fronts and scalable production growth toward a target of ~6 million silver-equivalent ounces annually.
Mineralization is interpreted as a broad structural corridor rather than discrete veins, comprising principal veins, tensional structures, veinlet stockworks, and altered host rock.
Next steps include continuing surface drilling, initiating underground rehabilitation for drill chambers, defining western continuity via underground drilling, and integrating data into geological models for mine planning.

Material Impact

The drilling results are consistent with previous wide intercepts reported in January and April 2026 (DDH-BR-003, BR-005, BR-009), confirming that the broad mineralized widths at Blenda Rubia are not isolated anomalies.
This is an expected follow-up to the company's 40,000-meter diamond drill program announced in October 2025.
While the results are technically positive and support the long-term vision of a district-scale operation, they do not introduce fundamentally new geological surprises or alter the near-term production timeline.
The news reinforces the feasibility of bulk-style mining at Blenda Rubia, which could serve as a low-cost feed source for the existing processing plant, but it is classified as routine exploration progress rather than a market-moving catalyst.

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Company Overview

Silver X Mining Corp. is a precious metals producer and developer focused on the Nueva Recuperada Silver District in Huancavelica, Peru.
The flagship project encompasses a 20,000+ hectare land package with over 200 exploration targets, including the Tangana Mining Unit (current production hub), Plata Mining Unit, and satellite deposits like Blenda Rubia and Red Silver.
The company is executing a dual-mine, dual-milling strategy aimed at scaling to 3,000 tpd and producing approximately 6 million silver-equivalent ounces annually by 2029.
A Preliminary Economic Assessment (PEA) filed in September 2025 projects a 14-year mine life with an after-tax NPV of $439 million (5% discount), an IRR of 69%, and a payback period of 3.0 years.
Initial capital expenditure is estimated at $82 million, with long-life cash costs of $11.8 per AgEq ounce and AISC of $15.8 per AgEq ounce.

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