Silver X Extends Blenda Rubia Mineralization 160 Metres Below Historic Workings; Intersects High-Grade Silver Within Broad Multi-Vein Zone
Silver X Extends Blenda Rubia Mineralization 160 Metres Below
Historic Workings; Intersects High-Grade Silver Within Broad
Multi-Vein Zone
VANCOUVER, BC / ACCESS Newswire / January 26, 2026 / Silver X Mining
Corp. (TSXV:AGX)(OTCQB:AGXPF)(F:AGX) ("Silver X" or the "Company") is pleased to
announce results from the first three underground diamond drill holes completed as part of
its deep exploration program at the Blenda Rubia Mine, within the Nueva Recuperada
Project in central Peru. The program successfully extends silver-polymetallic mineralization
upto 160 metres below the historically mined levels, confirming the vertical continuity of
the system and intersecting multiple veins and veinlets, including a broad mineralized zone
of 27.4 metres true width
"We are very encouraged by the first results from our deep drilling program at Blenda Rubia,
which demonstrate that mineralization continues well below the historic mine workings
and remains open for expansion, " said Jose Garcia, CEO and President of Silver X. "The
wide, structurally robust mineralized zone intersected in BR-003, including a high-grade
silver core, highlights the scale potential of this system and reinforces our view that Blenda
Rubia could become an increasingly important contributor to the Nueva Recuperada
complex. The close proximity to our processing infrastructure provides a strong advantage
as we continue to convert exploration success into future development opportunities. "
Blenda Rubia is a past-producing underground mine, next to the Recuperada mill;
previously operated until the mid-1990s. Historic mining activities were largely confined to
shallow levels, with development and exploration reaching only four levels in depth below
surface (Level 210), despite historical evidence for a vertically extensive silver-polymetallic
system. Mining ceased during a period of significantly lower silver prices and domestic
turbulence, which averaged approximately US$5-6 per ounce1 at the time, limiting the
economic extraction of deeper mineralization.
Highlights:
• Mineralization extended up to 160 metres below historic mine levels, confirming
strong vertical continuity and demonstrating meaningful potential to expand mineral
resources beyond previously mined areas.
• All three drill holes intersected mineralized veins at mineable widths and
grades, reducing geological risk and increasing confidence in the consistency of the
vein system at depth.
• Hole BR-003 intersected a broad 27.4-metre true width multi-vein zone,
including a high-grade core of 3.0 metres averaging 505 g/t Ag, 4.16% Pb and
0.49% Zn, highlighting the presence of both scale and high-value mineralization
within the same structural corridor.
• The wide mineralized zone hosts multiple sub-parallel veins and dense silver-
bearing veinlets, indicating a structurally robust system capable of supporting
larger-tonnage underground mining scenarios rather than narrow, isolated veins.
• Grades increase with depth in portions of the system, suggesting potential for
improving metal endowment and stronger economics as drilling advances below
historic workings.
• Blenda Rubia is located approximately 2 km from Silver X's processing plant,
providing a clear pathway for capital-efficient development and potential near-term
integration into future mine plans if resources are defined.
Drill Interceptions:
• BR-001
o Intersected 2.0 m true vein width (4.55 m apparent width) averaging 98 g/t Ag,
1.25% Pb and 0.04% Zn.
o Intercepted approximately 65 m below Level 210 at an elevation of
approximately 4,175 metres above sea level.
o Confirms the down-dip continuity of the Blenda Rubia structure at mineable
widths.
o The intercept is located within the central portion of the Blenda Rubia vein
system.
o Mineralization occurs in two discrete vein/breccia zones, separated by a 40
cm barren horse, followed by a zone of alteration, suggesting the presence
and continuity of multiple sub-parallel structures along the drill hole.
o Mineralization is hosted in vein and vein-breccia zones characterized by
strong silica, with patchy polymetallic sulfide mineralization dominated by
galena and sphalerite, minor pyrite (~1%), and possible silver-bearing
sulfosalts, accompanied by localized hydrothermal argillic alteration
adjacent to the vein system.
• BR-002
o Intersected 1.0 m true vein width (2.2 m apparent width) averaging 123 g/t Ag,
0.95% Pb and 0.02% Zn.
o Intercepted approximately 165 m below Level 210, at an elevation of
approximately 4,050 metres above sea level.
o Confirms the down-dip continuity of the Blenda Rubia structure below
historic mine workings.
o The intercept is located within the central portion of the Blenda Rubia vein
system, approximately 50 metres west of BR-001 and more than 100 metres
below its intercept.
o Mineralization occurs within a principal vein/breccia interval, flanked by
internal barren horses, indicating a structurally controlled mineralized
system with persistence at depth.
o Mineralization is hosted in vein and vein-breccia zones characterized by
intense silicification, brecciated textures, and polymetallic sulfide
mineralization dominated by fine-grained pyrite, with argentiferous galena,
locally associated with silicified breccias and hydrothermal argillic alteration
halos developed within structurally controlled zones.
• BR-003
o Intersected a 27.4 m true width (54.85 m apparent width) zone of veining,
within which a 3.0 m true width (6.0 m apparent width) vein stands out,
grading 505 g/t Ag, 4.16% Pb and 0.49% Zn.
o Intercepted approximately 25 m below Level 210, at an elevation of
approximately 4,190 metres above sea level.
o The intercept is located within the central portion of the Blenda Rubia vein
system, stepping out to the west of BR-001 and BR-002.
o Mineralization is hosted within a structurally controlled, broad multi-vein
system, characterized by strong silica flooding and brecciation, with patchy
polymetallic sulfide mineralization dominated by pyrite, with local galena
and possible silver-bearing sulfosalts, developed within strongly silicified
wall rock, and accompanied by moderate veinlet development, hydrothermal
alteration halos, and local barren horses.
Strategic Importance of the Drill Program
The current drill program specifically targets the depth continuation of the Blenda Rubia
vein system below Level 210, representing the first modern drilling campaign designed to
evaluate the vertical extent of mineralization beneath historic mine workings (Figure 01).
Silver X is developing an exploration program based on a two-pronged strategy:
i. Systematically testing the down-dip extension of the Blenda Rubia structure, which
had not been explored.
ii. Evaluating historically mined and under-mined areas to identify remnant and
adjacent mineralized zones with potential for recovery under a conceptual mine
plan
The Blenda Rubia Mine is located approximately two kilometres from Silver X's processing
plant, providing a clear potential pathway for rapid integration into future mine plans
should mineral resources be defined.
Drill Results Summary
(See Table 01 for assay details and Figure 01 for drill hole locations and intercept geometry)
Figure 01: Longitudinal Section of the Blenda Rubia Vein Showing Historic Mine Workings
and Current Deep Drill Holes Below Level 210.
Validation of Continuity and Grade Evolution at Depth
The first two drill holes (BR-001 and BR-002) successfully demonstrate that the Blenda
Rubia structure maintains geological continuity below historic workings, with widths that
are considered operationally mineable in a future underground scenario.
While BR-002 returned a narrower intercept relative to BR-001, the higher silver grade
(approaching 125 g/t) is interpreted as evidence of metal enrichment with depth, a
characteristic commonly observed in productive silver-polymetallic vein systems in the
region.
Table 01: Summary of Initial Deep Drill Results Below Historic Level 210 at Blenda Rubia
(True Widths)[2].
Elevation
(m)
Drill
Hole
From (m) To (m) Apparent
Width
(m)
True
Width
(m)
Ag
(g/t)
Pb
(%)
Zn
(%)
4,155 BR-001 260.40 265.00 4.55 2.00 98 1.25 0.04
4,060 BR-002 366.20 368.40 2.20 1.00 123 0.95 0.02
4,200 BR-003 187.70 193.70 6.00 3.00 505 4.16 0.49
Positive Results from BR-003 Highlights Scale Potential
Drill hole BR-003 represents a step-out to the west and delivered the most significant
intercept of the program to date. The hole intersected a robust, multi-stage mesothermal
mineralized system characterized by strong silicification, polymetallic sulfide
mineralization, and continuous veining over a broad interval
Within this mineralized vein system, Silver X identified a high-grade, 505 g/t Ag vein at the
hanging wall contact of 3.0 metres true width, accompanied by strong lead and zinc
credits, it is accompanied by a smaller veins and veinlets with a true width of 24.4 m.
Importantly, this broad mineralized interval has a grade of 28.1 g/t Ag, with 0.36% Pb and
0.09% Zn.
The results demonstrate the presence of a wide, structurally controlled mineralized system
characterized by continuous silver mineralization with associated lead and zinc, rather
than a narrow or isolated vein. This combination of width, grade continuity, and
polymetallic character significantly enhances the potential scalability of the Blenda Rubia
system in a future mining scenario.
Implications for Future Exploration and Resource Definition
The results from the first three drill holes are considered highly encouraging and provide
strong technical support for Silver X's working hypothesis that Blenda Rubia hosts a
vertically extensive and economically attractive silver-polymetallic system.
These results:
• Validate the continuity of mineralization below historic mine levels.
• Confirm the presence of mineable widths at depth.
• Indicate increasing silver grades in certain portions of the system; and
• Support the advancement of the Blenda Rubia project through continued
exploration drilling toward future mineral resource definition.
Silver X will continue drilling to further evaluate both the down-dip and lateral continuity of
the structure, with the objective of converting exploration success into mineral resources
that could be rapidly advanced toward production, subject to technical and economic
evaluation.
Quality Assurance and Quality Control (QA/QC)
Silver X follows rigorous QA/QC protocols. Channel samples were collected using hammer
and chisel to ensure representative sampling of the vein material and immediate wall rock.
Samples were dispatched to an ISO-certified laboratory in Lima, Peru. The program
includes the regular insertion of certified reference materials (standards), blanks, and field
duplicates to ensure the highest level of analytical accuracy.
Please see "Cautionary Note regarding Production without Mineral Reserves" at the
end of this news release.
Qualified Person
Mr. A. David Heyl, B.Sc., C.P .G who is a qualified person under NI 43-101, has reviewed and
approved the technical content of this news release for Silver X. Mr. A. David Heyl is a
consultant for Silver X.
Corporate Update on Trafigura's US$2.0 Million Financing Facility
Further to the Company's news release dated June 24, 2025, which announced a US$2.0
million financing provided by Trafigura, the Company confirms that the first drawdown
under this financing, in the amount of US$850,000, was completed on July 21, 2025.
As disclosed in the June 24, 2025 news release, the financing includes the issuance of an
aggregate of 2.5 million non-transferable share purchase warrants. The Company is
proceeding with the issuance of these warrants at an exercise price of CAD $0.23 per share
being the share price at that time, with a term of 15 months from the date of issuance.
This corporate update is unrelated to the Blenda Rubia exploration results described in this
news release and is provided to ensure timely disclosure of other corporate matters.
Corporate Update on the Conclusion of Strategic Consulting Service
Further to the Company's news release dated October 30, 2025, which announces the
engagement with an independent advisory firm, co-led by Ernesto Balarezo and Patricia
Kosa, the Company reports that the strategic consulting service previously disclosed has
concluded.
The service included strategic and advisory support provided by Ernesto Balarezo and
Patricia Kosa, focused on operational and organizational matters.
Silver X acknowledges their professional contributions and continues to advance its
priorities with a focus on operational execution, and long-term value creation.
Cautionary Note regarding Production without Mineral Reserves
The decision to commence production at the Nueva Recuperada Project and the
Company's ongoing mining operations as referenced herein (the "Production Decision
and Operations") are based on economic models prepared by the Company in
conjunction with management's knowledge of the property and the existing estimate of
mineral resources on the property. The Production Decision and Operations are not based
on a preliminary economic assessment, a pre-feasibility study or a feasibility study of
mineral reserves demonstrating economic and technical viability. Accordingly, there is
increased uncertainty and economic and technical risks of failure associated with the
Production Decision and Operations, in particular: the risk that mineral grades will be lower
than expected; the risk that additional construction or ongoing mining operations are more
difficult or more expensive than expected; and production and economic variables may
vary considerably, due to the absence of a detailed economic and technical analysis in
accordance with NI 43-101.
About Silver X
Silver X is a rapidly expanding silver producer and developer advancing the Nueva
Recuperada Project in Peru, a 20,795-hectare, district-scale land package with two mining
units and over 200 targets. Current production at the Tangana Mining Unit is scaling
alongside the planned restart of the Plata Mine, supporting a path to ~6 million AgEq
ounces annually by 2029. With immediate revenue, scalable growth, and long-term
discovery upside - all within one integrated project - Silver X is building the next-generation
silver company defined by growth, resilience, and responsible mining.
For more information visit our website at www.silverxmining.com.
ON BEHALF OF THE BOARD
José M. Garcia
CEO and Director
For further information, please contact:
Kaitlin Taylor
Investor Relations
+1 778 887 6861
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Cautionary Statement Regarding "Forward-Looking" Information
This press release contains forward-looking information within the meaning of applicable
Canadian securities legislation ("forward-looking information"). Generally, forward-looking
information can be identified by the use of forward-looking terminology such as "plans" ,
"expects" or "does not expect" , "is expected" , "budget" , "scheduled" , "estimates" ,
"forecasts" , "intends" , "anticipates" or "does not anticipate" , or "believes" , or variations of
such words and phrases or state that certain acts, events or results "may" , "could" , "would" ,
"might" or "will be taken" , "occur" or "be achieved" . All information contained in this press
release, other than statements of current and historical fact, is forward looking
information. Forward- looking information contained in this press release may include,
without limitation, exploration plans, results of operations, expected performance at the
Project, the Company's belief that the Tangana system will provide considerable resource
expansion potential, that the Company will be able to mine the Tangana Mining Unit in an
economic manner, and the expected financial performance of the Company.