On June 10, 2026, Metalsource Mining Inc. (MSM:CSE; SFRIF:OTC; E9Z:FSE) announced positive assay results from its ongoing exploration program at the Silver Hill system in Davidson County, North Carolina, USA. This property comprises 1,225 acres and is underlain by volcaniclastic rocks, hosting the first silver-producing mine in the U.S.
Drill hole highlights include:
SH26-10: 10m south step out from SH26-05, overall mineralization widens to 4.6m (meters). Assay highlights include: 147g/t silver with 31% combined lead-zinc.
SH26-11: 45m down-dip extension below SH26-10, and 18m southern step out from SH26-07. Assay highlights include: 19g/t gold, 92g/t silver, and 37% combined lead-zinc.
SH26-15: 44m down-dip extension below SH26-08, extends mineralization approximately 315m below surface. Assay highlights include: 8g/t gold, 16% combined lead-zinc, and 5% copper.
SH26-16: 40m down-dip extension below SH26-08, and 17m north step out from SH26-15. Assay highlights include: 11g/t gold, 146g/t silver, and 58% combined lead-zinc.
SH25-03 and SH25-04: Identified near-surface mineralization 150m north of the inclined shaft, on trend with the Silver Hill system. Assay highlights from SH25-04 include: 103g/t silver and 10% combined lead-zinc.
Metalsource believes these results demonstrate the robust polymetallic nature of the system, with strong silver and gold grades accompanied by lead and zinc mineralization. CEO of Metalsource, Joe Cullen, said in the release: "These results continue to demonstrate what we are seeing across the Silver Hill system: consistent silver and gold values accompanied by exceptionally strong lead and zinc grades. The combination of precious metals and base metals is becoming a defining characteristic of the project and continues to support the broader scale and continuity of the mineralized system. What is particularly encouraging about Hole 11 is not simply the high-grade interval, but the strength of the broader mineralized package. Multiple stacked high-grade zones, combined with substantial lead-zinc content throughout the interval, provide further evidence of continuity within the system and reinforce our confidence in the potential to continue expanding mineralization along strike and at depth."
Cullen went on to say, "Perhaps most importantly, these results come from continued step-out drilling designed to test extensions of known mineralization. We are successfully expanding the system in multiple directions, while a significant number of assays remain pending from the current campaign. As exploration momentum continues to build, we believe we remain in the early stages of understanding the broader opportunity Silver Hill may represent."
Investors should know that the company considers Silver Hill to be a mine redevelopment story, in which the goal is to expand the footprint of America's first producing silver mine. Metalsource promises a steady flow of news to come as pending assay results are received.
The company has a second project, the Byrd-Pilot Mountain project, in central North Carolina, and is using historical essays to create a drilling program to gather samples.
A Canadian company, Metalsource, focuses on exploration within North Carolina in the U.S., intending to expand mineralization from past-producing projects. The company also has an exploratory project in Botswana.
Precious Metals Staying Afloat During War
Silver, like other metals, is vulnerable to fears of inflation and geopolitical uncertainties, as has been evidenced by the ongoing war between the U.S. and Iran. Investing.com discussed how these tensions are affecting the metals markets, saying, "In the current environment, investors are increasingly worried that higher oil and energy costs linked to the Middle East crisis could fuel broader inflation pressures, forcing the Federal Reserve to maintain restrictive monetary policy." Often immune to stock fluctuations due to its critical usage needs, renewed suspicion of U.S. tariffs on China's copper exports has also caused the rates to drop. A strong U.S. dollar, a good employment report, and the 10-year Treasury yield holding strong have also created bad news for spot gold prices.
The gold market opened lower on June 12, 2026. Spot gold was trading down 0.04% at US$4,210.10 after taking a tumble over the past week. Silver was down 0.49% at US$67.03.
Gold surged to a record high earlier in the year, hitting a high of US$5,000 per ounce in January, and many expect the rally to resume once international conflict cools down. In April, S&P Global wrote, "Gold is expected to remain volatile but structurally supported, with central bank demand and geopolitical risk helping to establish a price floor above recent correction lows." Silver has been following the same trend closely.
With its industrial usage, silver is more than a speculative buy, even with its vulnerability. Higher demand from electric cars, solar panels, data centers, and more is shoring up silver's future demand. Yahoo Finance quoted experts from both BlackRock and J.P. Morgan as saying, " By the end of 2026, experts predict silver's price will surpass US$80 per ounce, and it could reach US$100 per ounce by 2030."
Despite the volatility of gold, the sector as a whole is only showing signs of improvement. On May 7, 2026, Brian Taylor of Recycling Today said that the World Bank Group has predicted that overall global metals prices will rise by 17% in 2026, which would mark the first overall market increase since 2022.
Streetwise Ownership Overview*
Metalsource Mining Inc. (MSM:CSE;SFRIF:OTC;E9Z:FSE)
| Date | Old Symbol | Old Shares | New Symbol | New Shares |
|---|---|---|---|---|
| 01/30/24 | SF | 1 | MSM | 1 |
| 02/04/13 | SF | 10 | SF | 1 |
| 05/07/10 | SF | 10 | SF | 1 |
| 06/19/06 | RL | 1 | SF | 1 |
| 07/16/02 | GHM | 1 | RL | 1 |
| 01/30/01 | GMI | 3 | GHM | 1 |
| 10/06/99 | GNN | 6 | GMI | 1 |
Expert Looking Forward to Next Results
Bob Moriarty of 321gold.com commented on the company on June 11, 2026, saying: "Metalsource continues to deliver barn-burning results from their ongoing drill program at Silver Hill, America's first significant silver, lead, zinc mine located in western North Carolina. Results just released showed 434 g/t AgEq (silver equivalent) over 10.64 meters, including a 2050 g/t AgEq over 1.52 meters. That hole extends the deposit 195 meters down dip. With another dozen assays for holes to be released, investors can look forward to a steady flow of information from the company."
Two Projects Advancing
According to the company's investor presentation, Metalsource is aggressively advancing Phase 2 at Silver Hill and planning to implement the Phase 1 program of approximately 300-500 meters at its Byrd-Pilot Mountain project.
Ownership & Share Information1
Metalsource Mining Inc. has a market cap of CA$113.20 million, with 72.90 million shares outstanding. The company's 52-week range is CA$0.11-CA$2.29.
Strategic Investors own 26% of shares, while Management & Insiders own 3%. The remaining 71% of shares are Retail.
| Want to be the first to know about interesting Base Metals, Silver and Gold investment ideas? Sign up to receive the FREE Streetwise Reports' newsletter. | Subscribe |
Important Disclosures:
- Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
For additional disclosures, please click here.
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.
