Polymetallic Silver Deposits are Getting a Strategic Second Look

Rhea-AI Summary

Polymetallic silver projects attract strategic capital and exploration activity. The release highlights modern geophysics and financing for GoldHaven Resources, major drill results at Brixton, a robust PEA at Blackrock Silver, Almonty's US listings and financings, and Southern Silver's high‑grade assays. Key metrics include GoldHaven surface samples to 2,370 g/t Ag, tungsten to 6,550 ppm, a $1.72M flow‑through financing, Brixton's single sample of 82,334 g/t Ag, Blackrock's after‑tax NPV(5%) of US$437M (base case) and Almonty's US$90M IPO plus US$129M follow‑on.

Positive

• GoldHaven surface assays: 2,370 g/t Ag, 6,550 ppm W
• GoldHaven to fly 1,741 line‑km high‑res magnetic survey
• Blackrock PEA: after‑tax NPV(5%) US$437M, IRR 28%
• Brixton drill: single sample 82,334 g/t Ag, 11.35m @ 4,560 g/t Ag
• Almonty raised US$90M IPO and US$129M follow‑on financing
• Southern Silver: 4.6m @ 201 g/t Ag, 4.5% Pb, 9.8% Zn

Negative

• Project economics remain sensitive to volatile silver prices
• GoldHaven funding limited to a $1.72M flow‑through raise
• Restart timelines (e.g., Gentung) target 2026, execution risk exists

News Market Reaction – BKRRF

+1.79%

1 alert

+1.79% News Effect

On the day this news was published, BKRRF gained 1.79%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

After-tax NPV(5%): US$437M After-tax IRR: 28% Mine life: 11.2 years +5 more

8 metrics

After-tax NPV(5%) US$437M Base-case Tonopah West PEA, US$31/oz Ag and US$2,700/oz Au

After-tax IRR 28% Base-case Tonopah West PEA economics

Mine life 11.2 years Tonopah West Project PEA mine life

Average annual production 7.1M AgEq oz Average yearly output in Tonopah West PEA

AISC US$17.44/oz AgEq All-in sustaining cost in Tonopah West PEA

Consensus-price NPV US$1.55B Tonopah West PEA at one-year analyst consensus prices

Consensus-price IRR 79% Tonopah West PEA at one-year analyst consensus prices

Initial capital US$190M Initial capex in Tonopah West PEA mine plan

Market Reality Check

Price: $0.8968 Vol: Volume 467,729 versus 20-...

low vol

$0.8968 Last Close

Volume Volume 467,729 versus 20-day average 877,060 (relative volume 0.53) suggests muted trading interest ahead of/around this article. low

Technical Price 0.9532 is trading above the 200-day MA at 0.74, while still 45.84% below the 52-week high and well above the 52-week low.

Peers on Argus

BKRRF gained 0.42% with mixed peer action: GMTLF -4.07%, SMDRF -3.85%, SLVTF -5....

BKRRF gained 0.42% with mixed peer action: GMTLF -4.07%, SMDRF -3.85%, SLVTF -5.73% versus SDRC +2.05% and OCGSF +3.61%. The lack of a consistent direction points to stock-specific factors, including its highlighted PEA metrics, rather than a broad silver-equities rotation.

Historical Context

5 past events · Latest: Apr 02 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Apr 02	Equity incentive grant	Neutral	-7.7%	Grant of 56,736 DSUs to directors under Omnibus Equity Incentive Plan.
Mar 31	Updated PEA economics	Positive	+17.0%	Updated Tonopah West PEA with strong NPV, IRR and resource growth.
Mar 04	Board changes	Neutral	-3.3%	Appointment of two independent directors and one director stepping down.
Mar 03	Key permit received	Positive	-9.4%	Receipt of Class II Air Quality and Surface Disturbance Permit for Tonopah West.
Feb 25	Drill program start	Positive	-1.1%	Commencement of 17,100-metre two-phase expansion drilling at Tonopah West.

Pattern Detected

Recent history shows strong positive reaction to the updated PEA, but negative or muted responses to operational progress and corporate updates, indicating investors have rewarded major economic de‑risking more than routine advancement steps.

Recent Company History

Over the past few months, Blackrock Silver has progressed its Tonopah West project through key milestones. The March 31, 2026 updated PEA, with robust economics, coincided with a 16.98% gain, contrasting with negative reactions to drilling, permitting, and DSU/board announcements. Today’s article revisits the same PEA metrics within a broader sector narrative, reinforcing the project’s economic profile rather than introducing new company-specific catalysts.

Market Pulse Summary

This announcement places Blackrock Silver within a broader thematic focus on polymetallic silver dep...

Analysis

This announcement places Blackrock Silver within a broader thematic focus on polymetallic silver deposits while reiterating key Tonopah West PEA metrics, such as an after-tax NPV(5%) of US$437M, 28% IRR and an 11.2-year mine life. Investors may view it as reinforcement rather than new information. Historical news shows strong response to the original PEA but softer reactions to routine progress. Going forward, attention is likely to center on resource growth, permitting milestones, and steps toward an underground development decision.

Key Terms

preliminary economic assessment, npv(5%), irr, aisc, +4 more

8 terms

preliminary economic assessment financial

"Blackrock Silver (TSXV: BRC) (OTCQX: BKRRF) released an updated Preliminary Economic Assessment"

A preliminary economic assessment is an initial analysis that estimates the potential profitability and feasibility of a project or resource, such as a new mineral deposit or development venture. It provides a rough idea of costs, benefits, and risks, helping investors decide whether to pursue more detailed studies. This early evaluation is important because it offers a snapshot of whether the project is worth further investment and development.

npv(5%) financial

"outlining a base-case after-tax NPV(5%) of US$437 million and IRR of 28%"

Net present value at 5% is the sum of a project’s or investment’s expected future cash flows converted into today’s dollars using a 5% yearly discount rate. Think of it as how much future money is worth today after accounting for the idea that a dollar now is worth more than a dollar later; using 5% shows the investment’s value when investors require or expect a 5% return. A positive NPV(5%) suggests the investment should add value to shareholders, while a negative value suggests it would destroy value.

irr financial

"after-tax NPV(5%) of US$437 million and IRR of 28% at US$31/oz silver"

IRR (Internal Rate of Return) is the annualized percentage return an investment is expected to produce based on its projected series of cash outflows and inflows; mathematically, it’s the rate that makes the present value of those cash flows balance to zero. Investors use IRR to compare and rank projects or investments—similar to comparing the interest rates on savings accounts—to judge which offers the best return for the time and risk involved.

aisc financial

"over an 11.2-year mine life at AISC of US$17.44/oz AgEq"

All-in Sustaining Cost (AISC) is a comprehensive measure of how much it costs a mining company to produce one unit of metal when ongoing operating expenses, long-term maintenance and sustaining capital, and share of corporate overhead are included. Investors use AISC to compare profitability and cash generation across producers—think of it as the full household cost to keep a business running divided by how many items it makes, which helps assess margins and resilience to price swings.

flow-through financing financial

"A $1.72 million flow-through financing is underway to fund 2026 exploration."

Flow-through financing is a way resource and clean-tech companies raise money by issuing special shares whose tax deductions for qualifying exploration or development costs are passed directly to investors. For investors it works like buying a voucher that converts company expenses into personal tax breaks, reducing their taxable income and improving after-tax returns while the company receives funding for projects without the usual tax burden. This matters because it can change an investment’s net value and attract different types of investors.

indicated resource financial

"underpinned by a substantial indicated resource base of 40.2 million silver"

An indicated resource is a quantity of minerals estimated from sample data with a moderate level of confidence—higher than a rough estimate but not as certain as a fully proven quantity. For investors, it signals a reasonable but still uncertain expectation that commercial extraction could be feasible; think of it like a well‑researched recipe where ingredients and amounts are likely correct but still need final confirmation before you start cooking or spending large sums.

all-in sustaining cost financial

"over an 11.2-year mine life at AISC of US$17.44/oz AgEq."

All-in sustaining cost (AISC) is a per-unit measure that shows the full, ongoing cost to produce a commodity, typically an ounce of metal, including direct mining costs, sustaining capital (ongoing equipment and mine upkeep), royalties, and general overhead. For investors it matters because AISC reveals the durable earning power and true profit margin of a producer—like calculating the total monthly cost to own and operate a car to judge whether selling rides is profitable over time.

mine life technical

"outlining a base-case after-tax NPV(5%) of US$437 million and IRR of 28% at US$31/oz silver and US$2,700/oz gold, with average annual production of 7.1 million silver equivalent ounces over an 11.2-year mine life"

The expected operational lifespan of a mine based on how much material can be economically extracted and the planned rate of production. For investors, mine life is like the remaining mileage on a car: it tells you how long the asset will generate revenue, shapes forecasts of future cash flow and profits, and influences required ongoing investments, closure costs and overall valuation risk if reserves or prices change.

AI-generated analysis. Not financial advice.

Issued on behalf of GoldHaven Resources Corp.

VANCOUVER, BC, April 16, 2026 /PRNewswire/ -- USANewsGroup.com News Commentary - Silver exploration just became a multi-commodity story. China's imports hit an eight-year high in early 2026 as industrial buyers drained global stockpiles^[1], while tungsten prices surged fivefold as depleted inventories and restricted Chinese exports pushed the market toward a severe global shortage^[2]. Deposits that deliver bonanza silver grades alongside tungsten, indium, and base metal credits are no longer niche plays; they're attracting critical minerals capital. That structural realignment is putting GoldHaven Resources (CSE: GOH) (OTCQB: GHVNF), Brixton Metals (TSXV: BBB) (OTCQX: BBBXF), Blackrock Silver (TSXV: BRC) (OTCQX: BKRRF), Almonty Industries (NASDAQ: ALM) (TSX: AII), and Southern Silver Exploration (TSXV: SSV) (OTCQX: SSVFF) at the center of a widening investor rotation.

The numbers tell the story. J.P. Morgan now projects silver averaging $81/oz in 2026, while Bank of America has outlined scenarios ranging from $135 to $309 per ounce^[3]. On the policy side, the February 2026 Critical Minerals Ministerial saw Washington sign eleven new bilateral frameworks and commit over $30 billion in strategic mineral financing^[4] to secure domestic supply chains for defense and clean energy. When sovereign capital starts flowing into a sector, polymetallic optionality stops being a buzzword and starts showing up in valuations.

GoldHaven Resources (CSE: GOH) (OTCQB: GHVNF) has engaged Dias Airborne Limited to fly a 1,741 line-kilometre high-resolution magnetic survey across its flagship Magno Project in northern British Columbia. The survey is expected to begin in June 2026 and run for approximately 14 days, covering the company's highest-priority target corridors at tight 100-metre line spacing.

This marks the first modern property-wide geophysical survey over the consolidated Magno land package, which now spans more than 37,200 hectares after the company recently filed a technical report on three newly acquired mineral claims added to the Magno Project. The airborne program will focus on the Magno Zone, Kuhn Zone, and D Zone, where surface sampling has already returned silver values up to 2,370 grams per tonne, tungsten up to 6,550 parts per million, and indium concentrations reaching 334 parts per million.

GoldHaven selected Dias based on the geological similarities between Magno and Hercules Metals' Leviathan discovery in Idaho, where the same QMAGT sensor platform helped refine concealed drill targets that led to discovery success. The technology uses superconducting quantum interference device sensors to measure the full tensor of the Earth's magnetic field, providing sharper resolution than conventional magnetic surveys. The company is also evaluating a follow-on ground-based 3D IP survey to further sharpen subsurface targeting before drill mobilization.

"This survey represents a major step forward in systematically unlocking the district-scale potential of Magno," said Rob Birmingham, CEO of GoldHaven. "By integrating modern high-resolution geophysics with our growing geological database and 2025 surface discoveries, we believe we are significantly improving our ability to define high-confidence drill targets across multiple mineralized systems at Magno."

The company has already submitted its drill permit application for a 2026 program targeting three high-grade zones carrying silver, tungsten, lead, zinc, and indium mineralization. A $1.72 million flow-through financing is underway to fund 2026 exploration. Tungsten is classified as a critical mineral by both the Canadian and U.S. governments, and Canada currently has no primary domestic tungsten production.

GoldHaven is running two active exploration pipelines. At its Copeçal Gold Project in Mato Grosso, Brazil, the company recently completed its first diamond drilling program confirming gold and copper anomalism, with Phase 2 drilling scheduled for mid-Q2 2026. Between Magno's emerging multi-system critical minerals story and a 123,900-hectare Brazilian portfolio spanning three projects, GoldHaven offers investors exposure to diversified discovery potential at a stage where most juniors remain focused on a single asset.

CONTINUED… Read this and more news for GoldHaven Resources at: https://usanewsgroup.com/2025/09/23/the-goldhaven-story-two-continents-one-strategy-systematic-exploration-in-historically-productive-districts/

In other industry developments:

Brixton Metals (TSXV: BBB) (OTCQX: BBBXF) reported the third batch of drill results from its Langis 2026 drill program at the Langis silver project in Ontario, Canada, including hole LM-26-290 with a 0.50-metre sample grading 82,334 g/t silver containing abundant native silver, representing the highest-grade single sample ever reported by the company and among the highest silver grades ever reported globally. The hole returned 11.35 metres averaging 4,560 g/t silver, with multiple additional bonanza-grade intercepts reported across the program.

"We are excited to report the third batch of drill results from the Langis 2026 drill program," said Gary R. Thompson, Chairman and CEO of Brixton Metals. "These results are extraordinary and are among the most significant silver drilled intercepts known to the company globally. Hole LM-26-290 has delivered an exceptional result, highlighted by 82,334 g/t silver from a 0.50m core length sample containing abundant native silver."

Brixton Metals is advancing the Langis silver project in Ontario alongside its Thorn copper-gold-silver project in British Columbia, with ongoing drilling at Langis aimed at delineating the extent of bonanza-grade mineralization and establishing a mineral resource estimate.

Blackrock Silver (TSXV: BRC) (OTCQX: BKRRF) released an updated Preliminary Economic Assessment for its 100%-owned Tonopah West Project in Nevada, outlining a base-case after-tax NPV(5%) of US$437 million and IRR of 28% at US$31/oz silver and US$2,700/oz gold, with average annual production of 7.1 million silver equivalent ounces over an 11.2-year mine life at AISC of US$17.44/oz AgEq. At one-year analyst consensus prices, the economics escalate to a US$1.55 billion after-tax NPV and 79% IRR, with initial capital of US$190 million recovered in 1.4 years.

"This updated PEA marks a significant milestone in the systematic de-risking of the Tonopah West Project," said Andrew Pollard, President and CEO of Blackrock Silver. "When we published our inaugural preliminary economic assessment 18-months ago, every ounce in the mine plan was inferred. Today we are presenting a high confidence Project underpinned by a substantial indicated resource base of 40.2 million silver equivalent ounces, nearly double what we reported in our Previous MRE."

Blackrock Silver targets an underground development decision at Tonopah West in H2-2027, with permitting initiatives advancing in parallel and the project positioned in one of the largest historic silver districts in North America.

Almonty Industries (NASDAQ: ALM) (TSX: AII) announced the relocation of its corporate headquarters from Toronto, Ontario to Dillon, Montana, positioning the company closer to U.S. government agencies, defense contractors, and industrial partners following its NASDAQ listing and US$90 million IPO in July 2025 and a US$129 million follow-on financing in December 2025. The move accompanies the acquisition of Montana's Gentung Tungsten Project, expected to restart production in 2026, and deepens Almonty Industries' strategic alignment with U.S. critical mineral supply chain security.

"Relocating our headquarters to the United States is not merely symbolic," said Lewis Black, Chairman, President and CEO of Almonty Industries. "It reflects who we are – as Montana is the location of our recently acquired Gentung Tungsten Project – and where our future lies. Our investors, customers, and strategic partners are here because they recognize the urgency of building a Western tungsten supply chain free from Chinese dependence."

Almonty Industries operates the Sangdong Mine in South Korea, historically one of the world's largest and highest-grade tungsten deposits, as well as projects in Portugal and Spain. With Sangdong Phase 1 complete and Gentung on track for restart, the company is targeting a dominant position in the global non-Chinese tungsten supply chain.

Southern Silver Exploration (TSXV: SSV) (OTCQX: SSVFF) reported final assays from the Puro Corazon claim at the Cerro Las Minitas Project in Durango, Mexico, including a 4.6-metre interval averaging 201 g/t silver, 4.5% lead, and 9.8% zinc (557 g/t AgEq) in drillhole 26CLM-221. All 23 planned holes are complete, with sampling and mapping within 13 levels of historic mine workings ongoing and approximately 1,300 individual samples collected to date.

"The 2025-26 drill program successfully outlined and upgraded mineralization on the Puro Corazon claim; extending mineralization within the skarn-altered halo around the main intrusion for upwards of 400 metres laterally and to depths of up to 500 metres below surface, where it transitions into previously identified mineralization in the larger CLM claim block," said Rob Macdonald, Vice President of Exploration of Southern Silver Exploration. "More significantly, drilling also intersected multiple bonanza-grade, replacement-styled intercepts on the outer edge of the skarn-altered halo, potentially forming a shallow high-grade lens outboard of the main skarn zone and starting within 200 metres of surface."

Southern Silver Exploration plans to incorporate the Puro Corazon results into an updated Mineral Resource Estimate for the broader Cerro Las Minitas project, expected to enhance project economics and mine plan scalability.

FURTHER READING: https://usanewsgroup.com/2025/09/23/the-goldhaven-story-two-continents-one-strategy-systematic-exploration-in-historically-productive-districts/

CONTACT:
USA News Group
info@usanewsgroup.com
(604) 265-2873

DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed for Baystreet.ca Media Corp. ("BAY"), who has been paid a fee for an advertising campaign. MIQ has not been paid a fee for GoldHaven Resources Corp. advertising or digital media, but the owner/operators of MIQ also co-owns BAY. There may also be 3rd parties who may have shares of GoldHaven Resources Corp. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by GoldHaven Resources Corp. The scientific and technical information disclosed in this document have been reviewed and approved by two Qualified Persons (QPs). The Copeçal Technical Report identifies Jean-Marc Lopez, B.Sc., FAusIMM, as the Qualified Person responsible for the report. The report "GoldHaven Resources Completes Summer Exploration Programs" states that the technical information has been reviewed and approved by Jonathan Victor Hill, B.Sc. Hons, FAusIMM, an independent Qualified Person and Country Manager of GoldHaven. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

SOURCES:

1. https://www.mining.com/web/china-pulls-silver-from-global-markets-to-meet-surging-demand/ 
2. https://www.fastmarkets.com/insights/tungsten-2026-geopolitics-sets-global-tone/ 
3. https://www.canadianminingreport.com/blog/silver-price-forecast-2026-2030-analysts-share-long-term-targets 
4. https://policyoptions.irpp.org/2026/03/critical-minerals-us/ 

Logo:  https://mma.prnewswire.com/media/2838876/5656770/USA_News_Group_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/polymetallic-silver-deposits-are-getting-a-strategic-second-look-302744237.html

FAQ

What is GoldHaven Resources (ALM) doing at its Magno Project in 2026?

GoldHaven plans a high‑resolution airborne magnetic survey over Magno covering 1,741 line‑km. According to the company, the June 2026 survey will target Magno, Kuhn and D zones to refine drill targets using QMAGT sensors.

How much financing did GoldHaven announce to fund 2026 exploration (ALM)?

GoldHaven is raising a $1.72 million flow‑through financing to fund 2026 exploration. According to the company, proceeds will support airborne geophysics, permitting and drill preparations at Magno.

What are the headline results from Brixton Metals' Langis 2026 drill program (symbol BBB)?

Brixton reported an exceptional single sample of 82,334 g/t Ag and 11.35m averaging 4,560 g/t Ag. According to the company, these intercepts include native silver and are among its highest global grades.

What economics did Blackrock Silver report in the Tonopah West PEA (BRC)?

Blackrock's Tonopah West PEA shows after‑tax NPV(5%) US$437M and IRR 28% at US$31/oz silver. According to the company, the study models 7.1 million AgEq ounces annually over 11.2 years.

What financings and corporate moves did Almonty (ALM) complete recently?

Almonty completed a US$90M IPO in July 2025 and a US$129M follow‑on in December 2025 and relocated headquarters to Montana. According to the company, this aligns with its Gentung acquisition and U.S. strategy.

What significant assays did Southern Silver report at Cerro Las Minitas (SSV)?

Southern Silver reported 4.6m averaging 201 g/t Ag, 4.5% Pb and 9.8% Zn (557 g/t AgEq). According to the company, results extend mineralization laterally and to depths of ~500m, informing an updated MRE.