Mackay Gold & Silver Adds Second Drill Rig to Test the Historic Sutro Tunnel Intersection of the Occidental-Brunswick Lode at Depth, Comstock District, Nevada
Mackay mobilizes a second rig to the historic Comstock target, advancing its fully-funded Phase 1 exploration program.
Mackay Gold & Silver Corp. has mobilized a diamond core drill rig to its 100%-owned Comstock District project in Nevada. The core rig joins an existing reverse circulation (RC) rig, accelerating the inaugural 20,000-meter Phase 1 drill program. Core drilling priority is the historic Sutro Tunnel intersection, targeting a 30-meter wide interval of the Occidental-Brunswick vein at ~450 meters depth, which has never been drill-tested.
The RC rig is actively testing the Occidental South zone (shallow oxide gold-silver), with 25 holes (~4,000 meters) completed to date. First RC assay results are expected in the coming weeks. The company remains fully funded following a ~$60M USD go-public financing completed in April 2026. Qualified Person is CEO Darwin Green (not independent).
Mackay Gold & Silver Corp. (MACK) has added a second drill rig, an expected operational progression following the June 2026 announcement of its 20,000-meter program. This move confirms management is executing on its stated exploration timeline and increases the pace of data generation, though it introduces no new geological targets, financial terms, or strategic shifts. The fully-funded status eliminates near-term dilution risk and de-risks the immediate exploration phase. The news is incremental and aligns with prior guidance, without altering the fundamental risk profile or valuation drivers.
Mackay Gold & Silver Corp. is an exploration-stage gold and silver company focused on the Comstock District in Nevada. The company’s flagship project controls 4,343 hectares (43 km²), representing the largest consolidated land package in the district's history.
Key exploration targets include the Occidental South Zone, a shallow oxide gold-silver deposit, and the Occidental-Brunswick Lode at depth, which is testing the historic Sutro Tunnel intersection. Historical resources for the property include approximately 24.4 million tons of Measured and Indicated material grading 0.025 oz/t Au and 0.24 oz/t Ag, alongside approximately 13.2 million tons of Inferred material grading 0.023 oz/t Au and 0.19 oz/t Ag.
Infrastructure includes a permitted, care-and-maintenance heap-leach and Merrill-Crowe processing facility at American Flats with a capacity of approximately 4,500 tons per day.