Discovery Silver: Strong First Quarter and On Track for Full Production in 2026

Añadido: 2026-05-07

[00:00:00][music] >> Welcome, ladies and gentlemen, to a new company update here on Commodity TV.

[00:00:16]Before we begin, please note this program is produced and published on behalf of Discovery Silver and funded by the company.

[00:00:23]Discovery Silver recently announced that the Porcupine operations produced 60,269 oz of gold in the first quarter of 2026, keeping the company on track for total gold production of 260,000 to 300,000 oz in 2026.

[00:00:39]Accordingly, quarterly gold production in 2026 is expected to increase over the course of the year, reflecting the positive impact of investments to optimize the company's current mining operations.

[00:00:51]The strong start to 2026 was highlighted primarily by a 44% increase in production at Hoyle Pond compared to the previous quarter, driven by a significant rise in average grade.

[00:01:03]This increase was offset by the impact of lower plant grades at Borden, largely due to mining sequence and reduced processing from stockpiles.

[00:01:13]At the Dome Mill, the average grade increased by 15%. Average recoveries were higher, and the mill's operating capacities were further improved.

[00:01:22]During the quarter, daily throughput exceeded 11,000 tons per day on 26 days, including 10 days on which the mill achieved an operating capacity of over 12,000 tons per day.

[00:01:34]Also, in the first quarter of 2026, the necessary work to resume mining operations at the Hollinger open pit mine was completed, and the quarter ended with a production rate of over 2,000 tons per day.

[00:01:46]Gold production at Hollinger will continue to ramp up over the coming months.

[00:01:50]Furthermore, in early March 2026, the company announced the acquisition of the Kidd operations from Glencore.

[00:01:57]The addition of these assets will bring many benefits to Discovery including the ability to significantly increase processing and waste rock handling capacities and add highly valuable infrastructure that can facilitate the development of TV set and support the future expansion of Hoyle Pond and Palmer.

[00:02:16]In addition, significant cost synergies and enormous exploration potential are expected on a very large and promising property. The acquisition of Kidd also provides the company with access to a highly skilled workforce which is urgently need to implement its growth plans.

[00:02:34]Finally, Discovery Silver continued to deliver outstanding exploration results across all Porcupine properties in the first quarter of 2026.

[00:02:44]Resource conversion and expansion drilling at Hoyle Pond, Borden and Palmer once again underscore the potential to extend mineralization and increase resources at all three properties.

[00:02:54]In addition, excellent results were achieved at targets in the surrounding area such as Old Creek where among other things 4.11 grams of gold per ton of rock were found over 30 m near Hoyle Pond where 13.52 grams of gold per ton of rock over 9.1 m were encountered and the Burnt Pond pit over 1 and 1/2 km away from Palmer.

[00:03:20]Palmer yielded among other things 1.94 grams of gold per ton of rock over 28.5 m.

[00:03:28]The initial drill results from TV set and Dome were also very encouraging.

[00:03:32]The first drill hole at TV set intersected a broad, high-grade mineralization zone and the results at Dome included several significant intervals both within and adjacent to the current mine resource. There, drills among other things returned 72.46 grams of gold per ton of rock over 3.8 m and 3.16 g of gold per ton of of rock over 15 m.

[00:03:58]You can find all of this and more in our Commodity TV app. Please note the disclaimer displayed. The stock discussed is or will be part of the SSC Mining Special Situations Certificate and SSC, its employees, or I myself may become or already are shareholders of the company.

[00:04:14]Thank you for watching and goodbye from Franconia, Switzerland.