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Arcus and Core Mobilise Crews for Approximately 3,000 Metres of Touleary Drilling

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FAQSIR News Desk
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Arcus Development Group Inc. and Core Silver Corp. have mobilised crews, exploration equipment and drilling equipment for a 2026 diamond drilling program at the Touleary Project in Yukon. The property is located approximately 115 km south of Dawson City, and the work will cover approximately 3,000 metres of drilling.

#Drilling contractors and target area

Archer Cathro Ltd. has been appointed to manage and carry out the program, while Superior Diamond Drilling has been selected to complete approximately 3,000 metres of diamond drilling. The companies said the required permits are in hand.

Work is expected to concentrate on the Discovery Zone and nearby areas. The focus reflects results from drilling completed in 2011, when polymetallic intervals were reported but were not followed by later drilling. The companies also identified additional high-priority “lookalike” targets for exploration.

#Historical Touleary drill results

The announcement cites several 2011 drill-core intervals. Hole TL-11-005 included 2.25m @ 7.18% Cu, 3.55g/t Au, 4.30% Zn, 116g/t Ag (115.62 - 117.87m), as well as 14.15m @ 1.45% Cu, 0.73g/t Au, 0.28% Zn, 16.5g/t Ag (124.5 - 138.65m).

Hole TL-11-002 returned 3.17m @ 2.38% Cu, 2.01g/t Au, 1.38% Zn, 32.9g/t Ag (124 - 127.17m). Results cited for TL-11-001 included 6.09m @ 1.37% Cu, 0.80g/t Au, 0.41% Zn, 14.5g/t Ag (85.61 - 91.7m).

For TL-11-003, the reported intervals were 0.59m @ 1.42% Cu, 1.15g/t Au, 2.81% Zn, 36.4g/t Ag (64.21 - 64.80m) and 0.61m @ 4.01 % Cu, 2.18g/t Au, 0.93% Zn, 73.9g/t Ag (90.36 - 90.97m).

The reported intervals are drill-core lengths. The true widths of the mineralised intervals have not yet been determined.

#Touleary project context

Touleary hosts mineralisation described as typical of volcanogenic massive sulphide, or VMS, systems in Devonian-Mississippian submarine volcanic rocks of the Finlayson Assemblage. The project is in a copper-rich geological belt and has exposure to both base and precious metals, according to the announcement.

The companies also pointed to the proposed Northern Access Route. The route is still under construction, and its development requires government-to-government collaboration and agreements with local First Nations. Management views the proposed road and related infrastructure initiatives as potentially transformational for the broader region, while the announcement does not provide a confirmed completion date, cost or operating impact.

#Proposed Arcus-Core arrangement remains conditional

Arcus said its shareholders approved the previously announced plan of arrangement with Core. At the annual general and special meeting held on August 25, 2026, the resolution received approval from 96.93% of the votes cast. A total of 14,909,720 Arcus common shares, representing approximately 70.26% of Arcus’s issued and outstanding shares, were represented at the meeting.

Under the proposed transaction, Core would acquire all of Arcus’s issued and outstanding common shares. Upon closing, Arcus shareholders will receive one common share of Core for each Arcus common share held immediately prior to the effective time of the Arrangement.

Completion has not yet occurred. The transaction remains subject to all required stock exchange approvals and the satisfaction or waiver of the remaining customary closing conditions. The announcement also identifies risks involving termination rights under the Arrangement agreement, other conditions in that agreement and potential material adverse effects on the businesses, properties and assets of the companies. Further terms apply to the transaction.

#Key Takeaways

  • Arcus and Core have mobilised crews and equipment for approximately 3,000 metres of diamond drilling at Touleary in Yukon.
  • Archer Cathro Ltd. will manage and execute the program, with Superior Diamond Drilling completing the drilling.
  • Primary targets include the Discovery Zone and surrounding areas, where 2011 drilling produced reported polymetallic intervals.
  • Reported historical intervals are drill-core lengths, and true widths have not yet been determined.
  • The proposed Arcus-Core arrangement was approved by 96.93% of votes cast but remains subject to stock exchange approvals and other closing conditions.

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Frequently Asked Questions

The Companies announced the mobilisation of crews and equipment for the 2026 diamond drilling program at the Touleary Project, located approximately 115 km south of Dawson City, Yukon. With permits in hand, crews, exploration and drilling equipment have been mobilised for the 3,000m drilling program. Archer Cathro Ltd. has been engaged to manage and execute the Program, while Superior Diamond Drilling has been selected to complete approximately 3,000 metres of diamond drilling.
The announcement identifies Arcus Development Group Inc. as (TSXV:ADG) and Core Silver Corp. as (CSE:CC), (FSE:8ZR) and (OTCQB:CCOOF).
Drilling will primarily focus on the Discovery Zone and surrounding areas at the Touleary Project. The source says the 2011 drilling programme returned significant polymetallic intercepts that have not been followed up by subsequent drilling. It also states that multiple additional high-priority “lookalike” targets were generated, although the source does not provide drilling results from the 2026 Program.
The source cites historical drill-core intervals, including 2.25m @ 7.18% Cu, 3.55g/t Au, 4.30% Zn, 116g/t Ag (115.62 - 117.87m) and 14.15m @ 1.45% Cu, 0.73g/t Au, 0.28% Zn, 16.5g/t Ag (124.5 - 138.65m) from TL-11-005. It also cites 3.17m @ 2.38% Cu, 2.01g/t Au, 1.38% Zn, 32.9g/t Ag (124 - 127.17m) from TL-11-002, 6.09m @ 1.37% Cu, 0.80g/t Au, 0.41% Zn, 14.5g/t Ag (85.61 - 91.7m) from TL-11-001, and intervals from TL-11-003 of 0.59m @ 1.42% Cu, 1.15g/t Au, 2.81% Zn, 36.4g/t Ag (64.21 - 64.80m) and 0.61m @ 4.01 % Cu, 2.18g/t Au, 0.93% Zn, 73.9g/t Ag (90.36 - 90.97m). The source states that the reported intervals represent drill-core lengths and that true widths have not yet been determined.
Arcus reported that the previously announced plan of arrangement was approved by 96.93% of the votes cast at its annual general and special meeting held on August 25, 2026. A total of 14,909,720 Arcus common shares, representing approximately 70.26% of Arcus's issued and outstanding shares, were represented at the meeting. Completion remains subject to receipt of all required stock exchange approvals and the satisfaction or waiver of the remaining customary closing conditions. The source also identifies risks relating to termination rights under the Arrangement agreement, other conditions, and material adverse effects on the Companies.
Under the terms described, Core will acquire all of the issued and outstanding common shares of Arcus. Upon closing, Arcus shareholders will receive one common share of Core for each Arcus common share held immediately prior to the effective time of the Arrangement. Subject to fulfillment of the stated conditions, the transaction is expected to close shortly thereafter, and Arcus would become a wholly-owned subsidiary of Core. The source does not state that the transaction has completed.
The source says the proposed Northern Access Route is still under construction. It describes the Northern Access Road and related infrastructure initiatives as viewed by management as potentially transformational for the broader region, while also stating that development requires ongoing government-to-government collaboration and agreements with local First Nations. The source does not provide a confirmed completion date, cost, or operating impact for the route.