On June 12, 2026, Silver47 Exploration Corp. (AGA:TSX.V; AAGAF:OTCQB) announced the commencement of its fully funded 10,000-meter summer drill campaign at the Red Mountain project in Alaska. The company believes that this project contains high-grade silver and critical minerals and will focus on the Dry Creek deposit, expanding on an inferred 168.7-million-ounce AgEq (silver equivalent) resource.
One drill rig is already operating at Red Mountain, with all three planned rigs expected to be active by the end of June 2026. This program will test ". . . numerous largely undrilled polymetallic massive sulfide occurrences across the 60-kilometer prospective trend, where expert multifaceted data analysis indicates the highest degree of prospectivity," according to the press release.
Silver47 listed program objectives as follows:
- Further delineation and expansion of the Dry Creek deposit (inferred mineral resource of 11.6 million tonnes at 279.4 g/t AgEq, totaling 104.0 million silver equivalent ounces, Table 1) through a series of infill and stepout holes down dip, approximately 3,000 meters, designed to investigate the orientation and structural controls on higher-grade VMS mineralization (for example, 22.3 m at 601 g/t AgEq (150.6 g/t Ag, 0.82 g/t Au, 5.86% Zn (zinc), 2.60% Pb (lead), 0.13% Cu (copper)) in DC24-105). Drilling will also evaluate the down-dip and strike extents of these higher-grade zones where mineralization remains open.
- New discovery by evaluating the high-grade mineralization potential of numerous VMS targets identified across the Dry Creek Syncline and Last Chance corridor. Of the known exploration targets, only 11 have been drill tested, five of those with less than three holes each. Based on these limited historical drill data together with results from recent project-wide geochemical sampling (rocks, soil, and talus-fines), numerous high-priority targets have been identified (for example, Sheep Creek, Hunter, Glacier, FOMO, and WTF E).
- Target refinement and new target identification through project-wide exploration activities, including geological mapping, grid-based soil geochemical surveys, and project-wide heli-borne hyperspectral surveying.
Galen McNamara, CEO of Silver47, said in the release: "With three rigs and 10,000 meters of drilling planned, this marks the largest exploration program ever undertaken at Red Mountain. The program is designed to both expand the existing resource and systematically evaluate several high-priority targets that have seen limited or no previous drilling. Red Mountain continues to demonstrate the characteristics of a large-scale, silver-rich mineralizing system, and we believe this campaign has the potential to significantly enhance the project's value through resource growth and the discovery of additional massive sulphide mineralization along the 60-kilometer prospective trend."
Silver47 is a Canadian exploration company focused on developing silver-rich projects in Alaska, Nevada, and New Mexico, U.S.
Industrial Demand Makes Silver Indispensable
The metals sector has been on a rollercoaster of ups and downs since the beginning of the U.S.-Iran War. Gold, silver, and other precious metals have been rising on the tides of good news and falling on the tides of bad news. Still, peace talks between the U.S. and Iran are currently going smoothly, with a temporary ceasefire announced on June 14, 2026. Silver was up 2.09% at US$70.04 per ounce at the time of this writing on June 15, 2026.
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 silver, 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.
Expert Expects Investors to See "Unrealized Potential"
Editor of The Gold Advisor, Peter Krauth, covered Silver47 in a June 12, 2026, opinion piece. Krauth wrote, "This campaign could significantly grow the Red Mountain resource. In addition, it could also lead to the discovery of more massive sulphide mineralization along the 60km prospective trend, creating further shareholder value."
Streetwise Ownership Overview*
Silver47 Exploration Corp. (AGA:TSX.V; AAGAF:OTCQB)
| Date | Old Symbol | Old Shares | New Symbol | New Shares |
|---|---|---|---|---|
| 12/12/08 | PY | 1 | AGA | 1 |
| 07/07/08 | PY.P | 1 | PY | 1 |
Krauth noted he was glad to own shares and views the stock as undervalued, offering significant upside potential. He wrote: "Silver47 shares are flat on this news, while silver has given back 1%. This outperformance suggests to us that the market is beginning to grasp the unrealized potential to unlock value with this drill program. In addition, the company is fully funded with approximately CA$48 million in working capital, supporting the execution of the entire exploration campaign. The project is positioned as a potential strategic U.S. source of both silver and critical minerals, commodities that remain in strong demand."
Catalyst-Rich 2026 Ahead
In its investor presentation, Silver47 lists 2026 catalysts as follows:
- Drill campaigns at the Red Mountain, Hughes, and Mogollon projects
- An anticipated updated resource estimate for Red Mountain in Q3 2026
- Ongoing review of accretive M&A opportunities with a goal towards 1 billion ounces AgEq
Ownership & Share Information1
Silver47 Exploration Corp. has a market cap of CA$127.28 million, with 208.66 million shares outstanding. The company's 52-week range is CA$0.56-CA$1.34.
Institutions own 5.27% of shares, while Strategic Investors own 10.08%. Management & Insiders own 6.53% of shares, and the remaining 78.12% of shares are Retail.
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Important Disclosures:
- Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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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.
