High-Grade Silver Extends 170 Meters; New Target Hits 6,850 g/t

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Argenta Silver Corp. (AGAG:TSX.V; AGAGF:OTCQX; T1K:FSE) reported the second set of assay results from its ongoing 2025 to 2026 Summer Exploration Program at its 100% owned El Quevar Project in Salta Province, Argentina. The company stated that the results confirmed multiple high-grade silver intervals beyond the Yaxtche Deposit, demonstrating mineralized continuity over a 100-meter northwest extension and a 170-meter southeast extension. The company also reported additional high-grade drill and surface sample results from the Mani Copan target, located approximately 500 meters south of Yaxtche, and confirmed a gold-copper mineralized zone in a follow-up drill hole at the Carmen target.

According to the company, step-out drilling at the Yaxtche Deposit intersected several silver intervals. Hole QVD 426 intersected 517 g/t Ag (silver) over 20.00 meters, including 1,300 g/t Ag over 5.00 meters and 5,060 g/t Ag over 1.00 meter, confirming a 50-meter expansion to the northwest. Hole QVD 428 intersected 1,039 g/t Ag over 5.00 meters, including 2,410 g/t Ag over 1.00 meter, extending mineralization 100 meters to the northwest. Hole QVD 432 intersected 639 g/t Ag over 6.00 meters, including 2,920 g/t Ag over 1.00 meter, extending the mineralized zone by 170 meters to the southeast. Additional follow-up holes QVD 434 and QVD 435 confirmed continuity of high-grade mineralization between step-out drilling and the existing resource.

At the Mani Copan target, hole QVD 431 intersected 135 g/t Ag over 7.50 meters and 255 g/t Ag over 2.00 meters. Hole QVD 433 intersected 4,982 g/t Ag over 7.50 meters, including 6,850 g/t Ag over 4.50 meters, along with an interval of 336 g/t Ag over 2.00 meters from surface. Surface rock sampling in previously unsampled areas returned more than a dozen high-grade silver assays reaching up to 2,493 g/t Ag.

At the Carmen target, follow-up hole QVD 427A confirmed a gold-copper mineralized zone, including 0.29 g/t Au over 22.90 meters, with a higher grade intercept of 0.66 g/t Au and 0.73% Cu over 1.00 meter. Additional intervals included 0.51 g/t Au and 0.42% Cu over 7.00 meters, including 1.33 g/t Au over 1.00 meter, and 0.48 g/t Au over 12.00 meters, including 1.57 g/t Au and 0.35% Cu over 1.00 meter.

The company also reported encountering silver anomalies in other drill holes, including QVD 429, and stated that results for hole QVD 430 remain pending due to laboratory backlogs.

Joaquin Marias, President and CEO, said in a company news release, "The latest step outs are very encouraging and extend the footprint of the main deposit by 170 m to the southeast and 100 m to the northwest with high grade continuity, reinforcing that the deposit remains open in multiple directions." He added that drilling at Carmen confirmed an open gold copper zone and that Mani Copan continued to deliver high-grade silver results.

Silver Sector Developments Reflected Policy Actions, Geopolitical Risk, and Structural Demand Shifts

Sector policy discussions had emerged first. A February 21 report from VBL stated that governments had increasingly considered price floor mechanisms for critical minerals, noting that "price floors can be used as a domestic policy to protect industry, and price floors can also be used as a geopolitical weapon." The publication cited the U.S. Under Secretary of State for Economic Affairs Jacob Helberg, who stated that a framework for critical minerals had been developed through interagency coordination and was being discussed with allied governments. The report added that proposed price supports had been "designed to protect non-Chinese producers from oversupply-driven margin compression."

Market activity had also reflected geopolitical influences. According to a February 23 update from Couloir Capital, silver prices had risen 9.3% during the week and added another 5.84% in a single day as "U.S.-Iran tensions drove investors toward precious metals amid heightened risk aversion." The firm stated that traders had sought "refuge from potential conflict and economic uncertainty," while noting that hawkish Federal Reserve commentary had limited further gains.

Longer-term structural trends had also been highlighted in sector analysis. According to a February 24 report from Dollarcollapse.com, the World Uncertainty Index had reached 105,000, described as "the highest level in recorded history." The report stated that silver had increasingly taken on strategic importance, noting that "silver is now a strategic metal. It is embedded in solar infrastructure, semiconductor fabrication, defense systems, and advanced communications." It also stated that pricing mechanisms had not fully reflected this shift, explaining that "it continues to be priced through mechanisms that evolved when none of those strategic considerations dominated the conversation."

The same analysis cited Goldcore commentary describing broader systemic adjustments affecting metals markets. The firm stated that "there are periods when the architecture itself begins to change, not through a single dramatic rupture, but through a gradual reworking of assumptions that once felt immovable." It added that silver’s role had evolved over time, explaining that "for many years silver could comfortably inhabit a middle ground, useful yet not essential," but had since become integrated within strategic industrial supply chains.

Analyst Cited “Bonanza-Grade” Results as Resource Footprint Expanded

According to a February 23 newsletter from The Gold Advisor, Senior Analyst Ted Butler described the company’s exploration update as a "bombshell update featuring bonanza-grade assays and an expanded resource footprint." He wrote that hole QVD-433 had intersected "a bonanza-grade interval of 4,982 g/t silver over 7.50 metres, including a stunning 6,850 g/t silver over 4.50 metres," and stated that the results confirmed the Mani-Copan area "as one of Argenta’s emerging targets for the ongoing 25,000 metre drill program."

Butler also wrote that step-out drilling had expanded mineralization, noting that "Argenta has successfully expanded the resource footprint by 270 metres, extending confirmed mineralization 100 metres to the northwest and 170 metres to the southeast." He stated that follow-up drilling had demonstrated continuity, writing that "these holes deliver on the resource expansion remit that Argenta promised, with follow-up drill holes QVD-434 and QVD-435 confirming the continuity of the high-grade system."

The newsletter further stated that the company had completed "over 9,500 meters of drilling across 34 holes" within the larger program and that "more than 150 work orders from these holes have been submitted for laboratory analysis, with 70% of the results currently pending."

Expanded Summer Exploration Program Advances Resource and Discovery Targets

The company stated that the current Summer Exploration Program began on November 1, 2025, and is continuing with two rigs operational at El Quevar. The drilling campaign is part of a dual-track strategy in which 40% of the program targets resource expansion, and 60% is dedicated to exploration for new discoveries.

According to the company, more than 9,500 meters of drilling have been completed across 34 holes as part of an overall 25,000-meter program. Over 150 work orders from these holes have been submitted for laboratory analysis, with approximately 70% of the results currently pending.

The company also reported that the program includes soil geochemical sampling and surface mapping across previously unexplored sectors, including expansion into Quevar North supported by the development of more than 15 kilometers of new internal access roads. Following fieldwork, all samples will undergo geological, petrographic, and spectral TerraSpec analysis.

Argenta stated that the exploration footprint for the 2025 to 2026 summer season has increased from approximately 25 square kilometers to 60 square kilometers. The company also noted that detailed surface work, including road construction, mapping, and geological transects, is ongoing to refine its understanding of the broader project area.

Ownership and Share Structure¹

Institutions own 27.3% of Argenta, Management and Insiders hold 26.4%. The rest is retail.

As of February 26, Argenta Silver had approximately 256.1 million shares outstanding and a market capitalization of about CA$180 million, with its shares trading in a 52-week range of roughly CA$0.19 to CA$1.18.