BMC Minerals Hits High-Grade Silver-Zinc-Gold in All Nine Rhyolite Peak Holes
Key Takeaways
- All nine drill holes reported from the 2026 Rhyolite Peak campaign have returned significant polymetallic mineralisation, with standout intercepts including K26-601 at 3.0m true width grading 306g/t Ag, 8.1% Zn, and 1.7g/t Au.
- Rhyolite Peak sits approximately 1,200m along strike from the proposed ABM Mine, meaning any resource growth at the prospect could potentially feed the planned ABM mill without separate infrastructure.
- The mineralised zone remains open both along strike and down dip — no boundary has been defined in any direction, keeping the expansion narrative intact heading into further drilling.
- Six remaining assay results from the 15-hole 2026 Rhyolite Peak programme are expected mid-October 2026, with drilling set to resume on 20 October 2026 after a licence-mandated pause.
- BMC has completed approximately 18,000m of its planned 20,000m 2026 KZK drilling programme, supported by a 2,482 line-km UAV drone magnetic survey providing near-complete property coverage for future target selection.
Rhyolite Peak delivers high-grade polymetallic results across all nine holes
All nine drill holes reported to date at the Rhyolite Peak prospect have returned significant mineralisation. BMC Minerals (ASX: BMC) released results on 5 October 2026 from its 100%-owned Kudz Ze Kayah (KZK) Project in Yukon, Canada, confirming high-grade polymetallic intercepts across all nine holes reported to date. The Rhyolite Peak prospect sits approximately ~1,200m along strike from the proposed ABM Mine, a proximity that gives these early results immediate strategic weight.
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Q2 2026 drilling campaign — results at a glance
The nine holes reported span a consistent zone of silver-zinc-gold mineralisation, with several intercepts carrying meaningful copper and lead credits alongside the headline metals. The table below presents the top headline results verified from Appendix 1 of the announcement.
| Hole ID | True Width (m) | Ag (g/t) | Zn (%) | Au (g/t) |
|---|---|---|---|---|
| K26-597 | 7.2m | 179 | 6.9% | 1.1 |
| K26-598 | 5.1m | 233 | 9.0% | 1.7 |
| K26-599 | 2.9m | 249 | 6.5% | 1.4 |
| K26-601 | 3.0m | 306 | 8.1% | 1.7 |
| K26-602 | 2.6m | 264 | 9.0% | 2.9 |
| K26-603 | 6.5m | 140 | 6.4% | 1.7 |
Key programme-level facts from the announcement:
- All nine holes returned significant mineralisation
- Six remaining holes from the 15-hole 2026 programme: assays expected mid-October 2026
- Drilling paused until 20 October 2026 per exploration licence conditions
- Approximately ~18,000m of the 20,000m planned 2026 KZK drilling programme now completed
Building on a proven trend
Rhyolite Peak is not a standalone discovery — it builds on scout drilling conducted in 2018 and 2024 that first identified the zone. Historical highlights from those programmes include K24-545: 2.4m true width @ 595g/t Ag, 6.7% Zn, 3.2g/t Au and K24-544: 4.5m true width @ 291g/t Ag, 8.7% Zn, 1.7g/t Au, confirming that high-grade massive sulphide mineralisation was present before the systematic 2026 grid drilling commenced.
The 2026 programme, designed on a nominal 25m to 50m grid pattern, has validated and extended those earlier intercepts. Critically, the mineralisation remains open both along strike and down dip, meaning the zone has not yet been closed off in any direction. That open-ended geometry is the expansion narrative investors should focus on.
What is a VHMS deposit and why does Rhyolite Peak matter?
A volcanic-hosted massive sulphide (VHMS) deposit is a type of base and precious metal deposit that forms on or below the ancient seafloor, where hot mineralised fluids vent through volcanic rock and precipitate dense concentrations of metal sulphide minerals. The key characteristic of VHMS systems, and why they matter for exploration, is that they tend to cluster. The same volcanic sequence that hosts one lens of massive sulphide frequently hosts others at predictable stratigraphic positions along the same horizon.
That geological model applies directly to BMC’s situation at KZK. The announcement states that Rhyolite Peak mineralisation is “interpreted to lie along the same mineralized horizon as the ABM Deposit.” In plain terms: the company is not drilling blind. It has a geological blueprint — the ABM Deposit — that tells it where along this horizon to look for additional lenses.
Key physical characteristics of the Rhyolite Peak zone as described in the announcement:
- Mineralisation true thickness ranges from 2.3m to 7.2m
- Shallow north-dipping geometry — broadly favourable geometry for future study of open-pit or shallow underground scenarios
- Zone remains open along strike and down dip
- Initially identified via soil geochemistry and a VTEM airborne electromagnetic survey coincident with the ABM Horizon trend
Geophysics and scale — a property-wide picture taking shape
Alongside the drill results, BMC has been systematically building its geophysical dataset across the KZK property. Two complementary programmes completed in 2026 are sharpening the company’s targeting capability for future drilling campaigns.
Key points from the geophysical work:
- UAV drone magnetic survey: 2,482 line-km completed in 2026 at 25m line spacing, achieving near-complete KZK property coverage
- Ground gravity survey: expands coverage across prospective stratigraphic horizons, complementing previous surveys
- Combined dataset is designed to aid identification of magnetite-pyrrhotite-bearing, high-density massive sulphide mineralisation
- GP4F update: hole K26-591 confirmed a modest 50m westward extension of GP4F mineralisation — a factual incremental step, not a major new discovery
These programmes are not headline-grabbing in isolation, but they matter for what comes next. A high-resolution property-wide geophysical dataset gives BMC’s geologists a much clearer map of where favourable stratigraphy exists, reducing the guesswork in future target selection.
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CEO perspective and what comes next
Managing Director and CEO Michael McClelland commented on the Rhyolite Peak results:
Michael McClelland, Managing Director and CEO, BMC Minerals
“We are very pleased to see these results from Rhyolite Peak. Although it is early days in defining the extent of the mineralization, our focus on this target appears to be well founded. With the proximity to the proposed ABM mine and mill this area has the potential to make a positive impact on the KZK Project. Each massive sulfide intercept we return gives us greater conviction that this zone will continue to grow with additional drilling, and we look forward to updating the market as the program advances…”
The upcoming newsflow from Rhyolite Peak is well-defined. Key catalysts to watch:
- Assay results from the remaining six 2026 Rhyolite Peak holes: expected mid-October 2026
- Drilling at Rhyolite Peak resumes: 20 October 2026
- Approximately ~18,000m of the 20,000m planned 2026 drilling programme now completed across the KZK property
- Continued testing of Fuego, Krakatoa, and ABM area targets
For investors tracking BMC, the combination of all nine reported holes returning significant mineralisation, a mineralised zone that remains open in multiple directions, and proximity to the planned ABM mine and mill infrastructure creates a clear newsflow pathway in the near term. The proximity angle is worth understanding: if Rhyolite Peak continues to grow with additional drilling, ore from the prospect could potentially feed the planned ABM mill without significant separate infrastructure — though it is early days in defining the extent of the mineralisation, as management has noted. Pending assays and drill resumption in October 2026 represent the next two points at which the market will receive updated information.
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