ICG Silver & Gold Ltd. reported cash of approximately $3.23 million and working capital of approximately $3.85 million as at June 30, 2026, alongside a net loss of $1.48 million for the second quarter.

The figures compare with cash of approximately $5.5 million and working capital of approximately $5.0 million reported at the end of the previous quarter on March 31, 2026, reflecting ongoing expenditures associated with district consolidation and the preparation of its maiden drilling campaign.

During the three months ended June 30, 2026, ICG Silver & Gold advanced surface preparations, permitting and contractor mobilization at the Tuscarora project in Elko County, Nevada. The company acquired 100% of the Tuscarora and Danny Boy projects comprising the district from American Pacific Mining Corp. pursuant to an arrangement agreement announced in December 2025.

Subsequent to the close of the quarter, drilling commenced on July 6, 2026, on a fully-funded 3,000-metre Phase 1 drill program. By late August, the company had completed approximately 2,525 metres across 10 reverse circulation holes, representing roughly 84% of the planned program across the Silica, Battle Mountain, Kings Vein and East Pediment targets.

Elsewhere in the surrounding Nevada region, Headwater Gold Inc. and OceanaGold Corporation commenced a 3,500-metre drilling program at the Jake Creek gold project in June 2026.

“The second quarter represented an important transition for ICG as we moved from building the technical foundation for the Tuscarora District into executing our first drill program,” said Steven Sirbovan, President, CEO and Director. “We ended the quarter with a strong working capital position, an expanded district-scale land package and the drill rig mobilized to site. Since quarter end, we have advanced Phase 1 drilling to approximately 2,525 meters across four target areas, while continuing to expand and refine our geological model. We believe we are well positioned to continue systematically advancing the Tuscarora District through the remainder of 2026.” — Steven Sirbovan, President, CEO and Director

Initial assay results remain pending for the Phase 1 Drill Program at ICG Silver & Gold's Tuscarora District project.

Read the full announcement: ICG Silver & Gold Reports Q2 2026 Financial Results