Bison uncovers silver and base metal targets across Nevada projects

Ruby Lake reveals a 2.7km mineralised trend

Bison Resources Limited (ASX:BSR) has uncovered a 2.7km silver-lead-zinc geochemical trend at its Ruby Lake Project in Nevada, highlighted by a surface sample grading 42.65 g/t silver and 27,572 parts per million lead, equivalent to about 2.8%. The anomaly sits along the southern margin of the Ruby Stock intrusion and remains open along strike.

“Overview map of Bison’s Project areas underlain by surface geology and structures in relation to nearby Projects2.”

“Topographic map of the Ruby Lake Project showing surface samples (coded by Ag ppm) in relation to mapped alteration, lithology, and structures4.”

Caption and image © Bison Resources Limited. From “Silver and Base Metal Mineralisation at Ruby Lake”, 11 Nov 2026.

The company collected 146 rock chip and float samples at Ruby Lake, mainly around contacts between the intrusion and surrounding calcareous mudstones and chert. Bison said the results, together with strong alteration and cross-cutting structures, confirm the presence of an intrusion-related precious and base metal system. The company has so far focused on the southern and eastern margins, leaving additional sampling of the northern and western margins still to come.

The result adds a new precious and base-metal dimension to Bison's early-stage Nevada campaign. The broader Ruby Lake exploration program had previously been identified as progressing alongside work at Cherry Springs and Medicine Range, but this release supplies the first substantial assay detail for Ruby Lake.

Cherry Springs adds copper and zinc targets

“Topographic map of the Cherry Springs Project showing received assay results for surface samples coded by lead ppm (triangles) and copper ppm (diamonds) in relation to magnetic…”

At Cherry Springs, 594 rock chip and float samples returned copper-lead-zinc anomalism in iron-silica alteration and gossanous breccias. Peak results reached 1.4% lead, 2.0% zinc and 0.2% copper, with the company reporting a distinct geochemical zonation: lead and zinc dominate the northern area, while copper is more prominent in the south.

Those anomalies coincide with magnetic highs and structures near the margins of the Cherry Stock intrusion. Bison says the setting is prospective for skarn and carbonate replacement deposits, where mineralising fluids associated with intrusions can react with carbonate-rich host rocks. That is a geological interpretation, not a resource estimate, and the company has not reported drilling or mineralised widths at either project.

Surface results now face the drilling test

Bison is ranking targets and planning drillholes at Ruby Lake and Cherry Springs. The next phase also includes additional sampling, geological mapping and integration of geochemical, alteration and geophysical datasets. Across its four Nevada projects, the company holds 456 unpatented lode mining claims covering about 38.1 square kilometres, all held through its wholly owned Bison Nevada subsidiary.

For investors, the important qualification is that these are surface rock chip and float results. Sampling was partly conducted at the geologist's discretion, and the company explicitly states that the data is insufficient for a Mineral Resource Estimate. The assays establish anomalism and help define targets, but they do not yet establish continuity, thickness, depth or economic viability.