Explorer Targets Major Silver Gains in Alaska

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Silver47 Exploration Corp. (AGA:TSX.V; AAGAF:OTCQB) has launched a fully funded 4,000-meter core drilling program at its wholly owned Red Mountain Project in south-central Alaska. The initiative aims to expand the project's existing inferred mineral resource, which currently totals 168.6 million silver equivalent ounces at a grade of 336 grams per tonne (g/t) silver equivalent (AgEq). The Red Mountain deposit comprises volcanogenic massive sulphide (VMS) mineralization, a deposit type known for hosting high concentrations of metals including silver, gold, zinc, copper, and lead.

According to the company, drilling is currently underway, with the first hole being advanced at the Dry Creek target. The 2025 program will focus on high-impact step-outs and previously untested zones near historical intercepts that returned significant grades of silver and gold. Past results included intercepts such as 22.32 meters grading 601 g/t AgEq in hole DC24-105 and 4.26 meters at 2,003 g/t AgEq in DC18-77. These grades include notable concentrations of critical minerals, including antimony and gallium, which are on the U.S. list of strategically important materials.

The company emphasized the program's dual focus: expanding the high-grade silver and gold zones while also evaluating Red Mountain's potential as a domestic source for five critical minerals: zinc, copper, tin, antimony, and gallium. Silver47 noted that this effort aligns with U.S. goals to secure a more resilient critical mineral supply chain.

Funding for a potential expansion of the program was bolstered by the recent CA$6.9 million subscription receipt financing completed by Summa Silver, which is in the process of merging with Silver47. Once finalized, the merger is expected to consolidate the companies' U.S.-based silver portfolios, which include Red Mountain in Alaska, the Hughes Project in Nevada, and the Mogollon Project in New Mexico.

"This year is shaping up to be transformational for the company with a full season of drilling and the pending merger with Summa Silver," said Silver47 CEO Gary Thompson in a company news release. "We are excited to kick off a significant drill program at our Red Mountain silver-gold-rich VMS project with a view to expanding the resource base and making new discoveries."

The current resource estimate for Red Mountain is based on fewer than 40,000 meters of historic drilling. According to the company, more than US$22 million (approximately CA$30 million) has been spent on exploration to date. With infrastructure located within 30 kilometers, the site is considered well-positioned for further development.

Silver Sector Sees Renewed Momentum Amid Price Surge and M&A Activity

According to a June 17 commentary from Stewart Thompson, silver had begun to show stronger performance relative to gold, with investor sentiment shifting in favor of the metal. Stewart Thomson wrote that "silver has been quiet for the past week, but it's been making new highs while gold has stalled." He added that silver appeared "set to begin significant outperformance against the stock market," and emphasized that junior silver mining stocks listed on the TSX Venture Exchange (CDNX) were showing promising signs of broad-based gains.

A June 17 report from Stockhead described a bullish trend across the silver sector driven by rising prices, industrial demand, and a surge in mergers and acquisitions. The report noted that silver reached a high of US$37.17 per ounce, up from US$33 per ounce earlier in the month. This spike marked a significant increase from the start of the year, when silver was priced around US$29 per ounce. The article pointed to "mounting industrial demand, especially from solar energy and AI," as key drivers of the price surge. Analysts cited in the report expected continued deal activity within the silver sector, especially among companies with pure-play assets and leverage to silver pricing.

Market dynamics were further highlighted in a June 18 update from Market Pulse, which reported that silver had risen 3.5% over a recent two-day period, reaching an intraday high of US$37.26. The report contrasted this movement with gold, which declined over the same time frame, suggesting a "rotation out of Gold into previously lagging precious metals, like Silver." Market Pulse identified a technical breakout in silver's price movement, noting it had reached a 13-year high following a breakout from a "Symmetrical Triangle" formation earlier in June. The analysis also noted silver's outperformance relative to gold, stating that "the ratio chart of Silver against Gold suggests a further outperformance of Silver over Gold at least in the short term."

Positive Outlook from Silver Market Commentary

On June 18, Peter Krauth of Silver Advisor offered a favorable assessment of Silver47 Exploration Corp., highlighting the launch of its fully funded 4,000-meter drill program at the Red Mountain VMS Project in Alaska. Krauth noted that "the drills have already started turning" and emphasized that the campaign was "about to get multiple boosts that could unlock big value." According to Krauth, the primary objective of the program is resource expansion at the Dry Creek and West Tundra Flats zones, where previous drilling suggested "big potential for resource growth."

Krauth pointed to significant past intercepts as a basis for optimism, citing hole DC24-105 with 22.32 meters grading 601 grams per tonne silver equivalent (AgEq) and WT24-33 with 2.90 meters at 1,079 g/t AgEq. These results, he explained, also included elevated concentrations of critical minerals such as antimony and gallium. Krauth underscored that these elements are not yet factored into the current Red Mountain resource estimate and indicated that their inclusion in future updates could lead to a "significant increase in overall size and grade."

In discussing the broader implications, Krauth emphasized the merger with Summa Silver and its financing success. He observed that the recent oversubscribed CA$6.9 million financing completed by Summa Silver positioned the combined entity to expand the Red Mountain drill program. He stated that "this year's drilling will also aim for areas that have shown high silver and gold grades," with the added potential of evaluating the deposit's critical mineral content to align with U.S. domestic supply chain goals.

Krauth further noted that Silver47 was a recent addition to the Silver Advisor portfolio and had already appreciated 22% in value at the time of writing. While attributing some of this increase to strong silver prices, he concluded that "this is one solid explorer with a large resource and a transformational merger with Summa Silver on tap."

Built for Growth: Where the Drill Bit Leads Next

Silver47's investor presentation highlights a series of catalysts expected to drive the combined company's value proposition following the merger with Summa Silver. The Red Mountain drill program marks the beginning of a broader strategy to significantly grow resources across all three U.S. assets. Updated resource estimates for Red Mountain are anticipated in the first quarter of 2026, with a preliminary economic assessment (PEA) to follow.

Red Mountain remains a central focus due to its scale and grade, including zones with multiple intercepts exceeding 2,000 g/t AgEq. The resource lies along a 60-kilometer mineralized trend, which remains largely underexplored. The company has also identified upside related to the site's critical mineral potential, noting concentrations of antimony and gallium well above average crustal abundance.

Post-merger, the pro forma company will have a combined resource of 236 million inferred and 10 million indicated silver equivalent ounces. The group's enterprise value per ounce stands at US$0.32, based on current market capitalization and resource estimates, which the company views as favorable compared to peers in the high-grade silver developer space.

Additional catalysts include drill programs at the Hughes and Mogollon projects, both of which are situated in historically productive U.S. mining regions. The Hughes Project sits within Nevada's prolific Walker Lane trend, while Mogollon in New Mexico hosts 77 kilometers of known vein structures, with the current resource covering only a small portion of that length.

Silver47 and Summa Silver aim to position the combined company as a leading high-grade silver developer in the United States, with an emphasis on resource expansion, critical mineral diversification, and near-term economic studies.

Ownership and Share Structure

According to management, Silver47's ownership breakdown is this: 29.51% held by six strategic entities, 9.17% owned by one institution and the rest in retail. 

The Top 3 shareholders overall are the company's CEO Gary Thompson with 14%, Crescat Capital with 5.5% and Eric Sprott with 5.5%. 

Silver47 has 70.4 million outstanding shares and 35.28 million free float traded shares. Its market cap is CA$60 million. I