Historic U.S. Mining District Delivers Another High Grade Hit

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Tuesday, June 30, 2026

Silver has spent 2026 reminding investors why it sits at the intersection of monetary metal and industrial demand. As supply tightens and the gold-to-silver ratio draws fresh scrutiny, exploration companies advancing historic, under-drilled mining districts are back in the spotlight. Some of the most compelling opportunities are projects that produced long before modern exploration techniques existed and are now being revisited with advanced drilling, geophysics, and geological modeling.

Shares of Metalsource Mining Inc. (CSE: MSM) (OTCQB: MSMMF) are moving Tuesday after the company reported another strong drill hole from its Silver Hill project in North Carolina, widely recognized as America's first silver mine. The latest results extend a growing high grade polymetallic corridor while strengthening the company's geological model for a system it believes remains in the early stages of definition.

Hole SH26-19 returned 6.28 metres grading 1,156 grams per tonne silver equivalent, including 3.6 metres at 1,789 g/t AgEq. The intercept also returned composite values of up to 35% combined lead and zinc and up to 16.5 g/t gold while extending the emerging corridor approximately 33 metres down plunge. According to the company, the results further demonstrate continuity across silver, gold, lead, and zinc mineralization as exploration pushes deeper into the system.

The hole comprises two mineralized intervals separated by less than two metres. A 3.05 metre section of core was not recovered, which Metalsource interprets as previously mined material based on its location relative to historic underground workings. High grade mineralization immediately above and below the gap supports that interpretation, although additional drilling will be required to confirm continuity through the interpreted mined section.

CEO Joe Cullen said the latest results provide additional confidence that the company is defining a coherent mineralized system rather than isolated high grade zones. He added that multiple drill assays remain pending, new property-scale targets continue to emerge from recent IP surveys, and Metalsource is evaluating opportunities to increase drilling capacity as exploration advances across the district.

The Silver Hill system remains open along strike, down plunge, and at depth. Located on approximately 1,225 acres in North Carolina's Carolina Terrane, the property dates back to 1839 and produced silver, gold, lead, and zinc during the early years of American mining. Metalsource is working to expand the known mineralized footprint as it advances Silver Hill toward its first modern resource estimate while also progressing its Byrd-Pilot Mountain gold-copper project elsewhere in the state.

In Tuesday action, shares of MSM are ahead 3.5% to C$1.18, while shares of MSMMF are up 5.6% to $0.85.

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