Silver Bow Mining Intersects 994.2 g/t AgEq Over 4.0 m, Including 1,586.1 g/t AgEq Over 2.3 m, at the Rainbow Block in Butte, Montana
NYSE American: SBMT
Silver Bow Mining Corp. announced assay results from drill holes SBM26-03 and SBM26-04 from its ongoing 25,000-foot diamond drilling program at the Rainbow Block Project in Butte, Montana, according to the company. The results follow the company's June 22, 2026 drill results and, according to the company, provide additional evidence of high-grade polymetallic mineralization within the Badger Vein.
The Badger Vein intercept from SBM26-03 is located approximately 125 meters (400 feet) beyond the boundary of the current Inferred Mineral Resource estimate and approximately 125 meters from the Badger Vein intercept in SBM26-01, which returned 3.7 meters grading 651.0 g/t AgEq (102.9 g/t Ag, 0.24 g/t Au, 11.23% Zn and 4.84% Pb), the company said.
Key Highlights
- SBM26-03, Badger Vein: 4.0 m grading 994.2 g/t AgEq (309.0 g/t Ag, 1.85 g/t Au, 9.98% Zn, 5.75% Pb)
- Including 2.3 m grading 1,586.1 g/t AgEq (455.0 g/t Ag, 2.76 g/t Au, 17.13% Zn, 9.71% Pb)
- SBM26-04, Jessie Vein: 2.0 m grading 693.1 g/t AgEq (61.6 g/t Ag, 0.17 g/t Au, 13.77% Zn, 4.83% Pb)
- SBM26-04, State Vein: 1.6 m grading 502.0 g/t AgEq (103.8 g/t Ag, 0.31 g/t Au, 8.19% Zn, 2.96% Pb)
- Three surface drill rigs are operating at the Rainbow Block, with approximately 13,500 feet of the previously announced 25,000-foot Phase I diamond drill program now complete, according to the company
Strategic/Operational Context
According to the company, none of the reported mineralized intercepts from the current drill program are located within the boundaries of the current Inferred Mineral Resource estimate. The company's current diamond drilling program is designed to test the extent of mineralization outside the current MRE and support potential expansion of the Rainbow Block mineral resource, the company said.
In addition to the high-grade Badger Vein intercept, SBM26-03 intersected mineralization interpreted as the Unnamed Vein, North Edith May Vein and North Badger Vein, all outside the current MRE, according to the company. SBM26-04 intersected multiple mineralized veins outside the current MRE, including the Badger Vein, State Vein, North State Vein, Poser Fault Vein, Jessie Vein and Rainbow Vein, with the strongest interval from the Jessie Vein at 2.0 meters grading 693.1 g/t AgEq. The company noted that in SBM26-04, poor drilling conditions were encountered from 602.6 to 603.8 meters, with no core recovered from the 1.2-meter interval, which was closely followed by a 1.4-meter mineralized intercept from the Rainbow Vein grading 253.2 g/t AgEq (78.0 g/t Ag, 0.06 g/t Au, 3.60% Zn and 1.60% Pb); given the poor recovery, the company said the full extent of the Rainbow Vein intersected in SBM26-04 is uncertain.
Phillip Nickerson, PhD, CPG, Vice President of Exploration, said: "The 4-meter intercept in SBM26-03 grading 994.2 g/t AgEq, including a 2.3-meter core at 1,586.1 g/t AgEq, is the strongest interval we have drilled to date at the Rainbow Block. Beyond the grades themselves, what stands out is that this intercept sits approximately 125 meters, or 400 feet, west of the high-grade intersection in our first hole of the season, SBM26-01, which returned 651.0 g/t AgEq over 3.7 meters. These results provide further evidence of potential high-grade mineralization not only along the Badger Vein, but also across several sub-parallel vein systems, and support our continued work to expand the current resource estimate. We believe we are still in the early stages of characterizing the scale and extent of the mineralized system at the Rainbow Block."
Travis Naugle, Chairman and CEO, said: "These results continue what we believe is a strong start to the 2026 drilling program at the Rainbow Block. With three surface drill rigs operating, we are focused on building the body of technical data needed to evaluate the broader potential of the numerous Rainbow Block vein systems and support an updated Mineral Resource estimate in the first half of 2027. The combination of high-grade silver with significant zinc and lead mineralization is a key attribute of the Rainbow Block and is particularly important given the growing strategic importance of these Critical Minerals to the United States. As our Phase I drilling continues and we prepare to advance our exploration program from underground locations, our focus is on systematically testing the broader mineralized system on the Rainbow Block and building the technical foundation to further define its scale and growth potential."
Resources and Financials
The Rainbow Block hosts an Inferred Mineral Resource, according to the company, of:
- 10.4 million tonnes grading 507.4 g/t AgEq (146.7 g/t Ag, 1.7 g/t Au, 4.59% Zn, and 1.25% Pb)
- Containing 49.16 million ounces silver, 0.55 million ounces gold, 0.47 million tonnes zinc, and 0.13 million tonnes lead
The company's current Inferred Mineral Resource for the Rainbow Block is disclosed in the Technical Report Summary prepared in accordance with Subpart 1300 of Regulation S-K and the National Instrument 43-101 technical report on the Rainbow Block Property, each with an effective date of December 31, 2024 and updated February 3, 2026, prepared by Jacob Anderson, CPG, MAusIMM of Dahrouge Geological Consulting, according to the company. AgEq grades reported in the release used the following metal prices: silver at $25.00/oz, gold at $2,500/oz, zinc at $1.31/lb, and lead at $0.90/lb, with estimated metallurgical recoveries of 90% applied to each metal included in the calculation, per the company.
What to Watch Next
- Silver Bow Mining plans to complete an updated Mineral Resource estimate for the Rainbow Block in the first half of 2027, according to the company
- The planned update is expected to incorporate results from the company's current drilling program together with historical assay information from drilling and underground sampling conducted by previous operators, subject to completion of the necessary compilation, validation and verification of such historical information, the company said
- The company's surface drilling campaign is expected to continue through 2026 and is regulated by the Montana Department of Environmental Quality pursuant to Exploration License No. 00857
About Silver Bow Mining Corp.
Silver Bow Mining Corp. is a minerals exploration company advancing the Butte Mining District of Montana, targeting a broad suite of U.S.-designated Critical Minerals, including silver, copper, zinc, lead, manganese, germanium, gallium, antimony, bismuth and indium, alongside gold. The Company holds approximately 4,210 acres of patented mineral claims and approximately 1,427 acres of surface lands across multiple claim blocks in this historically prolific district, including the flagship Rainbow Block.
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