- CSAMT geophysical survey completed on Western flank of Tuscarora District; scale of project further enhanced
- Major structural corridor identified that has never been tested, outlining new potential targets and areas of exploration interest
- Three major alteration and structural targets identified beneath shallow cover, consistent with epithermal style silver and gold mineralization
- District-scale geological model compilation underway
Toronto, Ontario–(Newsfile Corp. – April 9, 2026) – ICG Silver & Gold Ltd. (CSE: ICG) (FSE: JI0) (“ICG” or the “Company”) is pleased to report the results of a recently completed Controlled Source Audio Magnetotelluric (“CSAMT“) geophysical survey at the Tuscarora District, (“Tuscarora” the “District” or the “Project“) located in Elko County, Nevada. The survey was designed to add CSAMT coverage on the western flank of the Project and help delineate structures, lithologic contrasts, and alteration patterns potentially associated with silver and gold mineralization.
Steven Sirbovan, President, CEO & Director of ICG said, “We have now identified a potentially district-scale mineralizing corridor plus three additional zones, including targets concealed beneath shallow cover, which may materially expand the drill target inventory.”
The CSAMT program consisted of seven survey lines totaling approximately 44 line-kilometers, completed in November 2025 by KLM Geoscience of Reno, Nevada. The survey lines were oriented to crosscut the north-south vein and structural trends within the District. Results of the fieldwork were then interpreted by James L. Wright, M.Sc., of Wright Geophysics.
Key Highlights2
- 44 line-km CSAMT survey completed across the western portion of the Tuscarora District, bringing the total to ~130 line-km of CSAMT coverage, see Figure 1.
- Major structural corridor identified, termed the McCann Creek Structural Zone (“MCSZ”) see Figures 2-5.
- Multiple alteration zones identified along structural trends, interpreted as silica and argillic alteration commonly associated with epithermal gold-silver systems, see (Figures 2).
Figure 1: Total CSAMT Survey coverage through the years2, illustrative purposes only. Actual lines may differ.
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Major Structural Corridor Identified
Interpretation of the CSAMT data has revealed a district-scale structural feature associated with McCann Creek, interpreted as a complex system of high-angle faults forming a flower-style structural geometry (see Figure 2).
The Company has named this feature the McCann Creek Structural Zone (MCSZ). This structure appears consistently across multiple survey lines and is the most significant structural feature identified to date.
Figure 2: Sectional Bar Interpretations Projected to Line over Depth Slice 200 m. Red Bar = Silicic Alteration, Blue Bar = Argillic Alteration.
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“This major structural corridor identified by our CSAMT survey last fall, shows a strong spatial relationship with known mineralization encountered in historical mapping and sampling,” commented VP Exploration Korbon McCall. “We believe it may represent a major feeder structure responsible for mineralizing fluids within the Tuscarora District and that MCSZ has the potential to be a district-scale mineralizing corridor capable of hosting additional gold-silver zones.”
Alteration and Structural Targets Identified
In addition to the MCSZ corridor, the CSAMT survey identified three additional alteration and structural targets, referred to as Zones A, B, and C (see Figure 2 above). These zones are interpreted from resistivity contrasts within the geophysical data that may represent:
- Silica alteration (high resistivity-magenta/red)
- Argillic alteration (low resistivity-green/yellow/orange)
Both alteration styles are commonly associated with epithermal gold-silver mineral systems.
In Figure 2, Zone A was identified on Line 1800, where a strong resistivity feature occurs beneath shallow cover. This anomaly widens with depth and displays a geometry consistent with vein-style mineralization, highlighting a potentially previously unrecognized exploration target on which the Company plans to follow up. Zone A is also highlighted on the right-hand side of Figures 3 and 4 below. Zones B and C represent additional structural intersections and alteration corridors that remain largely untested, with Zone C visible on the left-hand side of Figures 3 and 5.
Figure 3: Line 900 (L900) Inverted Resistivity Section with Qualitative Interpretation from Geology of Henry and Boden (1998).1
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Figure 4: Line 900 (L900) Inverted Resistivity Section, Eastern Half.
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Figure 5: Line 900 (L900) Inverted Resistivity Section, Western Half.
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Building a District-Scale Geological Model
Despite more than a century of exploration and mining activity, the Tuscarora District has never been evaluated using a unified district scale geological model.
The results of the CSAMT survey support ICG’s interpretation that the Tuscarora District hosts a complex structural system within Paleozoic basement rocks overlain by Tertiary volcanic sequences.
High-angle fault structures appear to have served as conduits for hydrothermal fluids that produced the gold and silver mineralization historically mined in the district.
Next Steps
The newly acquired CSAMT data is currently being incorporated into the Company’s evolving 3D geological model of the Tuscarora District.
Upcoming work will focus on:
- Integration of CSAMT data with historical drilling and geophysical datasets
- Target ranking and geological modeling
- Geochemical sampling across priority target areas
- Development of a Phase 1 exploration drill program
The Company expects these efforts to support drill testing of both near-surface and deeper structural targets identified through the survey.
Corporate Update
The Company is pleased to announce that it has appointed Independent Trading Group, Inc. as of April 9, 2026 (Address: 420, 33 Yonge Street, Toronto, ON, Canada, M5E 1G4; Website: www.itg84.com; Contact: Chris Kaplan; Email: chriskaplan@itg84.com) (“ITG“) as a market maker for its common shares traded on the Canadian Securities Exchange (the “CSE“).
ITG, as ICG’s market maker, aims to ensure a fair and efficient market for ICG’s common shares and adhere to CSE policies. This involves buying and selling ICG’s shares on the CSE and other alternative Canadian trading venues. In exchange for these services, ITG will receive a monthly fee of C$6,000 from the Company for a period of one month, automatically renewing each subsequent month unless terminated by either party with 30 days notice. There are no performance factors contained in the agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and at the time of the agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company.
References:
- Henry, C.D. and Boden, D.R., 1998, Geologic Map of the Mount Blitzen Quadrangle, Nevada, Nevada Bureau of Mines and Geology, Map 110, 1:24,000.
- McMillin, S. L. (2026, January 7). NI 43-101 technical report: Tuscarora Project, Elko County, Nevada, USA. Rangefront Mining Services. Prepared for ICG Silver & Gold Ltd.
- Wright, J.L. (2026). Tuscarora Property CSAMT Survey – 2026 GIS Database. Report prepared for ICG Silver & Gold Ltd., J.L. Wright Geophysics, January 9, 2026.
QP STATEMENT
The scientific and technical information contained in this news release has been reviewed and approved by an independent consultant to the Company, Steven L. McMillin, P.G., of Rangefront Mining Services, a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About ICG Silver & Gold Ltd.
ICG Silver & Gold Ltd. is a new mineral exploration and development company advancing the Tuscarora District in northern Nevada. The Company’s strategy is centered on:
- Advancing the Tuscarora District through systematic exploration and technical studies;
- Building a district-scale geological model; and
- Progressing the project toward resource definition and future development.
The Tuscarora District is a silver-gold epithermal system located on the Carlin Trend, approximately one hour northwest of Elko, Nevada. ICG controls 100% of the approximately 10,000-acre land package, which has extensive rock chip sampling, thousands of meters of reverse circulation and core drilling, and tens of kilometers of CSAMT geophysics completed on the property. ICG fundamentally believes in the long-term value of precious metals exploration, especially silver and gold, and is led by a technical and management team with extensive experience in exploration, permitting, capital markets, and development of mining projects in the Western United States, including Nevada.
On Behalf of ICG Silver & Gold Ltd. Board of Directors:
Steven Sirbovan, President, CEO & Director
Corporate Office: 82 Richmond Street East, Toronto, ON, M5C 1P1
Investor relations contact:
Kristina Pillon, High Tide Consulting Corp.
604.908.1695 / ir@icgsilverandgold.com
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.
Forward-Looking Information
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements in this news release include, without limitation, statements related to ICG’s exploration plans. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
