Excalibur reports new gold-silver hits at Nye County project
Excalibur logged new gold-silver hits at Spyglass Ridge, but the Nye County project still needs more drilling and modeling before any mine-scale payoff is in sight.
Excalibur Metals' final four holes at Spyglass Ridge extended a mineralized structure to at least 300 metres depth, adding fresh gold-silver intercepts from a 3,122-metre reverse-circulation drill program at the Bellehelen silver-gold project in Nye County.
Hole BH26008 cut 3.05 metres grading 0.20 grams per tonne gold and 21.8 grams per tonne silver, and BH26010 returned 1.52 metres grading 0.48 grams per tonne gold and 29.1 grams per tonne silver. Holes BH26007 and BH26009 mostly came back below detection limits.
Those results follow the first six holes released June 3, when BH26001 returned 360.0 grams per tonne silver and 2.03 grams per tonne gold over 1.52 metres inside a broader 100.58-metre interval grading 16.7 grams per tonne silver and 0.10 grams per tonne gold. That wider zone ended at the bottom of the hole and remains open at depth.
Spyglass Ridge is still in the drill-and-model phase, with summer and fall work planned for mapping, sampling, geophysics and drill-result modeling before follow-up drilling expected in late 2026 or early 2027. The next round will look for high-grade shoots along the structure and test the broader Bellehelen system, including the Rangefront target and other areas across the property.
Bellehelen is a 10-kilometre-plus mineralized trend, with Spyglass Ridge making up just over 1% of that package. The company also expanded its land position by more than 4 kilometres to the northwest along the Bellehelen fault, where historic artisanal workings on the margins of the alteration cell point to a larger gold-silver system at depth.
Bellehelen covers most of the historic Bellehelen Mining District, where gold and silver were first discovered and mined in the early 1900s. Historic production there has been estimated at 311,000 ounces of silver equivalent between the early 1900s and the 1930s.
Excalibur controls the project through an option with Silver Range Resources dated Dec. 16, 2022 and amended July 17, 2025. The deal gives Excalibur a path to a 100% interest through September 2029, in exchange for cash and share payments, a 2% net smelter return royalty and additional payments if a mineral resource is defined.
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