Mayo Lake Mayo-Keno Area 2026 Drilling and Trenching Plans
Executive Summary
- Mayo Lake Minerals sold its non‑core Trail‑Minto Property to Banyan Gold for $1 M plus a 2% NSR (with an option to reduce to 1% for an additional $1 M) and closed the first tranche of a $300 k private placement, raising $155 k.
- The company outlined 2026 exploration programs for three properties (Carlin‑Roop, Anderson‑Davidson, Edmonton), highlighting high‑grade silver grab samples up to 3 994 g Ag/t and extensive soil‑geochemical anomalies indicating significant gold, silver and base‑metal potential.
- Management indicated the recent cash infusions position Mayo to fund “meaningful exploration campaigns” in 2026 and potentially pursue accretive acquisitions.
Key Details
- Financing
- Sale of Trail‑Minto Property: $1 000 000 cash + 2% NSR (option to reduce to 1% for additional $1 000 000).
- Private placement: First tranche closed, gross proceeds $155 000; total proposed raise $300 000, second tranche still open.
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Funds improve balance sheet and provide capacity for 2026 exploration and possible acquisitions.
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Exploration Plans – Carlin‑Roop (Silver)
- Target zones: Carlin West & AJ prospects.
- High‑grade silver grab samples: up to 3 994 g Ag/t (~128 oz Ag/t).
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Soil assays across 6.5 km² area ≥1 oz Ag/t; trenching planned, followed by shallow drilling of incompetent rock zones.
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Exploration Plans – Anderson‑Davidson (Gold)
- Scout drilling on up to four primary drill targets covering ~6 000 m of linear gold anomalies.
- Notable soil anomalies: Gold values up to 527 ppb Au at Anderson‑Owl; other zones with 272–340 ppb Au.
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Planned diamond drilling of identified targets (Peak, Steep Creek, Norman, etc.).
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Exploration Plans – Edmonton (Multi‑element)
- Soil sampling and SGH analysis on western portion of a 3 500 m × 1 600 m magnetic low showing Au ± Ag ± Cu ± Zn potential.
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Future diamond drilling to test coincident geochemical, magnetic and SGH anomalies.
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Claims & Regulatory Work
- Carlin‑Roop: no assessment work required until early 2028.
- Anderson‑Davidson: 223 claims due for assessment by 2026‑09‑29; remaining 206 by 2027‑09‑29.
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Edmonton: 76 claims due for assessment by 2026‑07‑19 (possible accommodation for ground‑condition delays).
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Management Commentary
- CEO Dr. Vern Rampton emphasized that the cash raised enables “meaningful exploration campaigns” and highlighted parallels between Carlin West and historic Elsa Mine (30 M oz silver, ~67 oz/t).
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Positive outlook on regional activity: Hecla Mining’s Keno silver production and Silver North’s recent private placement cited as supportive market trends.
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Corporate Actions
- Engaged Mining Hub and Bull Market News for investor communications.
- Contracted Green Crescent Capital for marketing services at $2 000 per month (3‑month term, renewable).
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Declined to pursue amalgamation with WestMountain Gold after prior discussions in 2025.
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Qualified Person
- Technical disclosure prepared by Dr. Vern Rampton, P.Eng., qualified under NI 43‑101.