Metalsource starts surveys at Silver Hill, Byrd-Pilot

Executive Summary

• Metalsource Mining Inc. has commenced a reconnaissance magnetotelluric (MT) geophysical survey program at its Silver Hill mine and Byrd-Pilot project areas in North Carolina.
• The program involves approximately 40 MT stations over a 20-day field acquisition period, with completion expected in early December 2025.
• The survey aims to identify subsurface geological structures and potential mineralization zones to refine drill targets for a future detailed induced polarization (IP) survey.

Key Details

• Contractor: Durango Geophysical Operations LLC (DGO) engaged for specialized electrical geophysics.
• Survey Scope: Approximately 40 MT stations planned across the Silver Hill mine and Byrd-Pilot project areas.
• Timeline: 20-day field acquisition program; completion anticipated in early December 2025.
• Technology: Use of state-of-the-art Phoenix Geophysics MT receivers and transmitters with remote reference noise reduction techniques.
• Data Processing: Results will be processed using 2-D Zonge smooth model inversion (unconstrained) and integrated into existing Leapfrog geological models.
• Personnel: Field operations overseen by John Reynolds (President, DGO); data interpretation by Karen R. Christopherson (Chinook Geoconsulting Inc.).
• Future Plans: Subject to initial MT results, the company anticipates conducting a follow-up detailed IP survey to further refine drill targets.
• Silver Hill Project Details:
  • Located in Davidson County, NC (1,128 acres).
  • Historic silver-producing mine with extensive drill hole database and underground mapping.
  • Mineralization extends to 550 meters from surface in steeply trending lenses, open in multiple directions.
  • Recent surface sampling (SH25-003) returned: 444 g/t Ag, 17.7 g/t Au, 8.61% Pb, and 0.507% Zn.
• Byrd-Pilot Mountain Project Details:
  • Located in central NC within the Carolina terrane.
  • Early USGS work (1980s) suggested a porphyry gold-copper system; subsequent work showed broad gold mineralization in soils, trenches, and shallow RC drilling.
  • Geology features intense quartz-sericite-pyrite alteration, high-sulphidation signatures, and high-alumina minerals.
  • Geologic modeling indicates an east-west trend to mineralization, open in multiple directions, with oxidation noted down to 30 meters.
  • No drilling has tested the Meridian discovery zone since the 1980s campaigns.
• Qualified Person: Rory Kutluoglu, PGeo, reviewed and prepared all scientific and technical information under National Instrument 43-101.

Notable Quotes

• "This geophysical program represents the next step in our systematic exploration approach in this historic mining district," said Joe Cullen, chief executive officer of Metalsource Mining. "The MT survey data will help us better understand the subsurface geology and alteration to identify priority targets."