BP Silver Corp. Intersects 10.0 Meters Grading 183.62 g/t Silver and 0.59 g/t Gold (239.65 g/t Silver Equivalent), Including 2.0 Meters Grading 506.50 g/t Silver and 1.08 g/t Gold (600 g/t Silver Equivalent) at Cosuño Silver Project, Bolivia

BP Silver reports high-grade silver and broad zinc intercepts at Cosuño, but remains early-stage.

What the company is saying

BP Silver Corp. is highlighting new assay results from two diamond drill holes, CO-0016 and CO-0019, at the Jalsuri North Target within its Cosuño Silver Project in Bolivia. The company emphasizes high-grade silver-gold mineralization, notably 10.0 meters at 183.62 g/t silver and 0.59 g/t gold, including a 2.0-meter interval at 506.50 g/t silver and 1.08 g/t gold, as well as broad zinc-rich zones up to 100 meters grading 2.49% zinc equivalent. Management, including Dr. Stewart D. Redwood (Director and Qualified Person) and Tim Shearcroft (Founder and CEO), frame these results as evidence of a potentially extensive polymetallic system, with both holes ending in mineralization and interpreted as part of an intermediate-sulfidation epithermal system. The company is transparent about the early exploration stage, noting that no metallurgical test work has been completed and that metal recoveries of 90% are assumed solely for illustrative purposes. The technical narrative is detailed, with explicit mention of QA/QC protocols, laboratory accreditations, and the geochemical context of the mineralization. The tone is confident but caveated, stressing the need for further drilling to determine continuity, scale, and economic potential.

What the data suggests

The disclosed assay results from CO-0019 show 10.0 meters grading 183.62 g/t silver and 0.59 g/t gold (239.65 g/t silver equivalent), with a 2.0-meter subinterval at 506.50 g/t silver and 1.08 g/t gold (600.04 g/t silver equivalent) starting at 3.0 meters depth. A 5.0-meter interval from 4.0 to 9.0 meters returned 294.00 g/t silver and 0.81 g/t gold (369.68 g/t silver equivalent). CO-0019 also intersected 100 meters grading 2.49% zinc equivalent. CO-0016 returned 96 meters grading 1.37% zinc (1.91% zinc equivalent), with two narrower silver-rich intervals: 3.0 meters at 110.60 g/t silver, 0.17 g/t gold, 0.76% zinc, 0.31% copper, and 273 ppm bismuth (186.40 g/t silver equivalent), and 2.0 meters at 56.75 g/t silver, 5.65% zinc, and 0.714% copper (243.45 g/t silver equivalent). The final 2.0 meters of CO-0016 averaged 4.18% zinc and 3.44 g/t silver. All intervals are reported as core lengths, not true widths. Metal equivalent grades use 2025 USGS average prices: US$38.00/oz silver, US$1.30/lb zinc, US$3,300/oz gold, US$4.80/lb copper, US$20.00/lb bismuth, US$1.06/lb lead, and US$25.00/lb antimony, with 90% recovery assumed for all metals. No metallurgical test work has been done, and the project is at an early exploration stage. The data supports the presence of high-grade, near-surface silver and broad zinc mineralization, but economic significance and scale remain unproven pending further drilling and technical studies.

Analysis

The announcement provides detailed, interval-specific assay results from two diamond drill holes at an early-stage exploration project. The language is generally proportionate to the evidence, with most claims grounded in disclosed assay data and QA/QC procedures. Forward-looking statements about the potential for mineralization to continue at depth and the broader polymetallic system are clearly identified as interpretations or future possibilities, not as realised facts. There is no evidence of exaggerated claims about imminent production, resource size, or economic value, and no large capital outlay or near-term financial impact is discussed. The use of assumed metal recoveries is explicitly stated as illustrative, and the absence of metallurgical test work is transparently disclosed. The overall tone is optimistic but not promotional, and the technical data is robust for this stage of exploration.

Risk flags

• ●The project is at an early exploration stage, with no resource estimate, metallurgical test work, or economic assessment disclosed. This means there is no basis yet for evaluating the project's potential value or viability, and the likelihood of commercial development remains highly uncertain.
• ●All reported grades are based on core lengths, not true widths, which may overstate the actual thickness of mineralized zones. Without true width data, the continuity and mineability of mineralization cannot be reliably assessed.
• ●Metal equivalent grades assume 90% recovery for all metals, but no metallurgical test work has been completed. Actual recoveries could be significantly lower, affecting the economic potential of the project.
• ●Further drilling is required to determine the continuity, extent, and economic significance of mineralization. There is a risk that subsequent results may not match the grades or widths reported in these initial holes, or that mineralization may not be continuous or scalable.
• ●The company has not disclosed any financial metrics, budgets, or funding status for ongoing exploration, leaving uncertainty about its ability to sustain or expand the drill program if results are less favorable or capital markets tighten.

Bottom line

BP Silver's latest drill results at Cosuño show high-grade silver and broad zinc intercepts, with 10 meters at 183.62 g/t silver and 0.59 g/t gold, and 100 meters at 2.49% zinc equivalent, but the project remains at a very early stage. All mineralization is reported as core length, and no resource estimate, metallurgical testing, or economic study has been completed, so the commercial significance is unproven. The use of assumed 90% metal recoveries for equivalency calculations is illustrative only and may not reflect actual recoveries. The technical disclosure is detailed and credible for an exploration update, but investors should recognize that substantial work remains before any value realization is possible. The most important takeaway is that while the grades are promising, the path to a defined resource and eventual development is long and uncertain, and future results will determine whether this project can advance beyond early-stage exploration.

Announcement summary

(TSXV:BPAG, OTCQB:BPSCF) BP Silver Corp. announced additional assay results from two diamond drill holes, CO-0016 and CO-0019, completed at the Jalsuri North Target as part of its Phase 2 diamond drilling program at the Cosuño Silver Project in Bolivia. Drill hole CO-0019 intersected 10.0 meters grading 183.62 g/t silver and 0.59 g/t gold (239.65 g/t silver equivalent), including 2.0 meters grading 506.50 g/t silver and 1.08 g/t gold (600.04 g/t silver equivalent) starting at 3.0 meters depth. Within the upper mineralized zone of CO-0019, a 5.0 meter interval from 4.0 to 9.0 meters returned 294.00 g/t silver and 0.81 g/t gold (369.68 g/t silver equivalent). CO-0019 also intersected a broad lower zone grading 2.49% zinc equivalent over 100.0 meters. Drill hole CO-0016 intersected 96 meters grading 1.37% zinc (1.91% zinc equivalent) from 4.0 to 100.0 meters. CO-0016 also returned two narrow silver-rich intervals: 3.0 meters grading 110.60 g/t silver, 0.17 g/t gold, 0.76% zinc, 0.31% copper, and 273 ppm bismuth (186.40 g/t silver equivalent) from 13.0 to 16.0 meters, and 2.0 meters grading 56.75 g/t silver, 5.65% zinc, and 0.714% copper (243.45 g/t silver equivalent) from 52.0 to 54.0 meters. Near the bottom of CO-0016, the final 2.0 meters from 98.0 to 100.0 meters averaged 4.18% zinc and 3.44 g/t silver. Both holes ended in mineralization, indicating the potential for mineralization to continue at depth. The mineralization is interpreted as the upper and/or distal levels of an intermediate-sulfidation epithermal system adjacent to the Cosuño lithocap. The mineral assemblage consists primarily of sphalerite and pyrite, with minor chalcopyrite and galena, accompanied by quartz, calcite, barite, and white clay minerals including smectite and/or dickite. Dr. Stewart D. Redwood, Director and Qualifying Person, stated that the holes are mineralized along their entire lengths, with zinc associated with lead, and intersect high-grade silver structures associated with gold, bismuth, copper, antimony, tin, and in some cases, zinc. Tim Shearcroft, Founder and CEO, commented that intersecting 10 meters grading more than 183 g/t silver, including 2 meters grading over 500 g/t silver, is extremely encouraging, and both holes intersected broad zinc mineralization and ended in mineralized rock. Silver equivalent and zinc equivalent grades were calculated using 2025 average metal prices: US$38.00 per ounce for silver, US$1.30 per pound for zinc, US$3,300 per ounce for gold, US$4.80 per pound for copper, US$20.00 per pound for bismuth, US$1.06 per pound for lead, and US$25.00 per pound for antimony. Recoveries of 90% have been assumed for all metals for illustrative exploration purposes. The Cosuño Project is at an early exploration stage, and no metallurgical test work has been completed to establish metal recoveries. The average core recovery was 95% for CO-0012 and 97% for CO-0013. ALS laboratory in Oruro, Bolivia prepared the samples, and analysis was conducted at ALS in El Callao, Peru. ALS is accredited to ISO/IEC 17025:2017 and ISO9001:2015 and is independent of BP Silver. BPAG inserted certified standard reference materials, blanks, and duplicates to monitor QAQC. All diamond drill holes were drilled in HQ-diameter core.

Disagree with this article?