Silver Shocker in Argentina as Drill Hits 3,549 G/T

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Argenta Silver Corp. (AGAG:TSX.V; AGAGF:OTCQB) announced the first assay results from its 2025 winter diamond drilling program at the 100% owned El Quevar Project in Salta Province, Argentina. The company reported multiple wide, high-grade silver intercepts from three drill holes and strong results from both historical drill core sampling and surface rock sampling across underexplored areas of the property.

Hole QVD-410 returned 533 grams per tonne (g/t) silver over 20.20 meters, including 1,320 g/t silver over 4.00 meters and a peak intercept of 3,549 g/t silver over 1.00 meter. Hole QVD-409 delivered 309 g/t silver over 26.00 meters, including 713 g/t over 8.25 meters. Step-out hole QVD-408 intersected 112 g/t silver over 19.20 meters, extending known mineralization 50 meters to the southeast.

In addition to new drilling, Argenta sampled 25 previously unassayed historical drill holes, identifying significant silver values in five of them. A standout interval returned 882 g/t silver over 1.00 meter. According to the company, approximately 66,000 meters of historical core remain unassayed and may support resource expansion at low cost.

Surface rock chip sampling also yielded strong silver values. Several grab samples exceeded 1,000 g/t silver, with one reaching the upper analytical detection limit of 20,000 g/t silver. Soil sampling results identified multiple new areas with anomalous silver and pathfinder elements.

Joaquin Marias, President and CEO of Argenta Silver, stated in the news release, "With assays returning 533 g/t silver over 20.20 meters in a drill intercept, a surface rock-chip sample topping 20,000 g/t silver and legacy core that has been sampled for the first time returning positive high-grade silver results, we've only just begun to unlock the true potential of this high-grade silver system."

The El Quevar Project currently hosts an indicated mineral resource of 45.3 million ounces of silver from 2.93 million tonnes grading 482 g/t silver, and an inferred resource of 4.1 million ounces from 0.31 million tonnes grading 417 g/t silver. The mineralization is characterized as a high- to intermediate-sulphidation epithermal system, primarily consisting of silver sulphides, sulphosalts, and native silver.

The El Quevar property spans 57,000 hectares and remains largely underexplored, with less than 3% covered by modern exploration. Infrastructure includes a fully operational camp for 100 workers, over 60 kilometers of internal roads, and proximity to a national road, a railroad, a gas pipeline, and a high-voltage power line.

Silver Sector Sees Momentum from Price Highs and Strategic Developments

Silver continued to capture market attention through mid-July as prices surged and interest in the metal expanded across investment and geopolitical spheres. According to a July 16 report by Peter Krauth, silver reached a 13-year high of US$38 per ounce, marking a 31% increase year to date. Krauth wrote, "Silver has been on fire, despite gold moving sideways since mid-April," noting that the metal's breakout above US$34 was followed by a sharp move upward. However, he also cautioned that momentum indicators such as RSI and MACD suggested possible near-term pressure on the rally.

Despite those technical signals, Krauth emphasized that fundamental demand remained strong. He pointed to data from the Silver Institute showing that as of June 30, silver exchange-traded funds had recorded net inflows of 95 million ounces, exceeding totals for all of 2024. He attributed the price gains to "geopolitical tensions and economic uncertainties" that have driven investor interest.

In a July 18 commentary, Morris Hubbartt of Super Force Signals described silver's current positioning as entering the "blastoff" zone, with technical analysis supporting a bullish breakout. He included silver among the top momentum assets, referencing recent chart signals.

Also on July 18, Chen Lin of the What's Chen Buying? What's Chen Selling? newsletter discussed broader macroeconomic implications, highlighting silver's historical role as a reserve asset.

Lin noted, "Silver is close to breaking out again this morning," and drew attention to the inclusion of silver accumulation in Russia's 2026 budget. He added, "If the central banks start to put silver as one of [their] reserve currencies, I think silver goes to triple digits easily." While presented as a personal view, the comment underscored growing global interest in silver as a strategic asset.

On July 20, Captain Ewave published a detailed analysis of silver's price movement using Elliott Wave Theory, a technical framework that identifies recurring market cycles based on investor psychology. The commentary outlined what was described as a "powerful wave iii rally," consisting of multiple nested subwaves that suggest continued upward momentum. According to the analysis, silver had already completed several key stages, with the current leg — identified as wave (iii) — projected to reach US$48.63. Within this structure, subwave !iii! was said to be advancing toward US$41.71, with technical resistance levels noted at US$39.57 and US$44.28.

Although the notation involves symbols like (iii), -iv-, and ^v^ to indicate different degrees of trend within the Elliott Wave model, the underlying message reflected strong upward price momentum and structurally bullish patterns in the silver market.

Analyst Highlights Exploration Success at El Quevar

On July 21, Peter Krauth of Silver Advisor provided an in-depth assessment of Argenta Silver following the release of drill results from its maiden program at the El Quevar Project in Salta, Argentina. Krauth highlighted that the company "just dropped a monster set of drill results," pointing to hole QVD-410, which intersected 20.20 meters grading 533 g/t silver, including "a scorching hot 1-metre hit grading 3,549 g/t silver." He noted that "anything over 400 g/t silver is typically considered bonanza-grade nowadays," positioning Argenta's results among the highest-grade intercepts in the sector.

Krauth also emphasized the significance of step-out and confirmation drilling, stating that hole QVD-409 returned "a solid 309 g/t over 26 meters," including 713 g/t over 8.25 meters and 1,169 g/t over a 2.50-meter subinterval. He described QVD-408 as "a step-out hole drilled a mere 50 meters southeast of the known resource," which still yielded 112 g/t silver over 19.20 meters.

In addition to the drill data, Krauth referenced surface grab samples, including one that exceeded the upper detection limit of 20,000 g/t silver, with others grading as high as 16,145 g/t and 6,004 g/t. He also underscored the resource expansion potential linked to 66,000 meters of historical core that remain unassayed, where preliminary re-sampling returned up to 882 g/t silver over 1.00 meter.

Krauth concluded that the project's 45.3 million ounce silver resource "may just be the tip of the iceberg for El Quevar." He characterized the early-stage drill results as "a textbook example of early-stage exploration success" and stated, "I remain full weight in AGAG," citing the company's assets, management team, and strategy.

Pathways for Growth and Exploration

Argenta Silver's current activities align with its multi-phase exploration strategy outlined in its July 2025 investor presentation. The 2025 winter program includes approximately 4,000 meters of drilling, with 60% allocated to exploratory targets, 25% to step-outs, and 15% to confirmation drilling.

The company has emphasized that only a small fraction of the El Quevar volcanic complex has been explored, noting strong potential for additional silver and gold discoveries. Areas like Quevar South, where new surface anomalies were identified, have seen limited historic drilling and are expected to play a key role in future target generation.

Argenta's infrastructure supports year-round access and operational efficiency. The company noted in its corporate materials that the El Quevar site includes more than 400 historical drill holes and a 1,250-meter underground decline ramp. Argenta also holds a debt-free balance sheet with approximately CA$11 million in working capital as of June 2025.

The company continues to integrate historical data with new results to refine geological models and prioritize exploration areas. According to the corporate deck, Argenta's broader strategy focuses on expanding the existing resource, exploring new zones, and leveraging existing infrastructure to support cost-effective development.

Ownership and Share Structure

According to Refinitiv, management and insiders collectively hold 18% of Argenta Silver's shares. The top shareholders are Frank Giustra (15.09%), Thomas Humphreys (2.73%), and Joaquin Marias (0.31%). The remaining 82% of shares are held by retail investors. No institutional holdings have been reported.

Argenta Silver has 169.21 million shares outstanding and 138.05 million in free float. As of April 2025, the company had a market capitalization of approximately CA$44.88 million. Its shares have traded between CA$0.14 and CA$0.47 over the past year.