Mackay Gold & Silver Corp. has mobilized a diamond core drill rig to its 100%-owned Comstock District project in Nevada, marking the start of the 5,000-metre core drilling component of its inaugural 20,000-metre Phase 1 drill program.

The core rig joins an existing reverse circulation rig that has been operating at the property since mid-June. The initial priority target for the core rig is the historic Sutro Tunnel intersection along the Occidental-Brunswick vein. During tunnelling in the late 1870s, miners reportedly crossed a 100-foot-wide interval of the vein approximately 1,500 feet below the surface. This deep intercept has never been tested with modern drilling.

Core holes are planned at approximately 100-metre spacing to test above, below, and along strike of the historic tunnel intersection. Meanwhile, the reverse circulation rig has completed 25 holes totaling approximately 4,000 metres at the Occidental South zone, targeting shallow oxide-gold mineralization. Assays for those holes are pending, with first results expected in the coming weeks.

The ongoing exploration follows asset consolidation earlier this year. In June 2026, Mackay acquired 100% of Comstock Inc.’s Nevada mining assets, expanding its total land holdings at the Comstock District by 70% to 4,343 hectares and uniting the district’s three major vein systems under single ownership. The company is fully funded for the current work following an April 2026 go-public financing that raised approximately $60 million USD.

“Pace has quickened with the addition of the second rig, enabling us to drill both our priority target areas at the same time,” commented Darwin Green, CEO of Mackay Gold & Silver. “The RC rig continues to systematically test a shallow oxide-gold target along the southern end of the Occidental-Brunswick Lode, while the core rig goes after what we believe is one of the largest and most compelling untested targets in the district - the Occidental-Brunswick Lode at depth. During its construction 150 years ago, the nearly 4-mile long Sutro Tunnel crosscut a 100-foot-wide interval of the Occidental-Brunswick vein that has never been followed up with a single drill hole. This represents the starting point of our exploration of the deeper portions of the multi-kilometer long Occidental-Brunswick Lode, which we believe has excellent potential to host high-grade mineralization like the famous “bonanzas” of the Comstock Lode.”

— Darwin Green, CEO of Mackay Gold & Silver

Read the full announcement: Mackay Gold & Silver Adds Second Drill Rig to Test the Historic Sutro Tunnel Intersection of the Occidental-Brunswick Lode at Depth, Comstock District, Nevada