Makenita Resources starts drilling at Ontario’s historic Hector Silver-Cobalt Project

Why has Makenita Resources started drilling at the Hector Silver-Cobalt Project and what does it signal for the Ontario junior mining sector?

Makenita Resources Inc., a Canadian junior mineral exploration company, has commenced its maiden drill campaign at the Hector Silver-Cobalt Project in Ontario’s Larder Lake Mining Division. This marks a major advancement in the company’s ongoing effort to unlock value in a region historically known for its high-grade silver and cobalt deposits. The official announcement, made on June 27, 2025, confirmed that site mobilization was completed on schedule and drill rigs are now operational at the project’s most promising targets.

Located near the legacy mining hub of Cobalt, Ontario, the Hector property spans 2,243 hectares across 126 contiguous unpatented mineral claims. Makenita Resources, which is publicly listed on the Canadian Securities Exchange under the ticker symbol KENY, views the project as a cornerstone asset within its early-stage exploration portfolio. The launch of the drill program represents a critical step in confirming historic mineralization trends while deploying updated geological models built from modern survey data.

The program’s initiation follows the company’s sequential milestones in June, including the engagement of Apex Geoscience Ltd. as the lead technical consultant and Vital Drilling Services as the drilling contractor. According to management, these developments reflect a broader push to transition from desktop modelling to aggressive in-field resource delineation.

What historic exploration data is Makenita Resources using to guide the Hector Project drill campaign?

The Hector Project is situated within a region that historically produced substantial quantities of silver and cobalt during the early 20th century. Several mineralized zones within the property boundaries were previously explored by legacy operators such as Teck during the 1970s. At the Block 9 anomaly—now one of Makenita Resources’ highest-priority drill targets—archival diamond drilling results include assay values up to 326 grams per tonne of silver (approximately 9.5 oz/ton), as referenced in Ontario’s Assessment File 31M05SE0075.

In addition to Block 9, Makenita Resources is targeting the South Keora shaft, a historic high-grade prospect mapped over a 100-metre strike length. Historical sampling dating back to around 1913 reportedly returned cobalt values in the range of 12–15%, with silver assays reportedly reaching up to 1,000 oz/ton, according to Mineral Inventory file MDI31M05SE00131.

While management has emphasized that historic results do not guarantee present-day mineralization, the areas selected for initial drilling have been refined using more than 522 line-kilometres of airborne magnetic and Very Low Frequency Electromagnetic (VLF-EM) surveys. These surveys, completed between 2017 and 2021, informed the development of an updated structural model that underpins the current drill plan.

How is Makenita Resources leveraging modern geological tools to de-risk exploration at Hector?

In an effort to modernize its targeting and reduce exploration risk, Makenita Resources has incorporated geophysical interpretations and recent surface mapping to validate and prioritize drill zones. Apex Geoscience Ltd., the firm’s geological consulting partner, is leading technical execution at the site. Kristopher Raffle, P.Geo., Principal of Apex and a Qualified Person under NI 43-101, has reviewed and approved the scientific and technical content of the project.

Surface work completed prior to drilling included soil geochemistry, trenching, and magnetic inversion modelling across key sub-zones such as Gillies East and Gillies West. Historical datasets had suggested the presence of cobalt-in-soil anomalies up to 98 ppm in certain parts of the property. By integrating legacy data with new survey overlays, the exploration team has aimed to fine-tune collar placement and maximize intercept potential in this first phase of drilling.

Wildfire-related clear-cutting across sections of the property has also opened new surface exposures, enabling the team to map previously inaccessible areas. This has been viewed by institutional investors as an opportunity to evaluate new structural corridors without additional environmental disturbance, adding to the campaign’s exploration efficiency.

What strategic and operational milestones have led to the current phase of drilling in June 2025?

The June 2025 commencement of drilling is the culmination of a structured operational ramp-up that began with the issuance of a drill permit earlier in the month. On June 10, 2025, Makenita Resources announced its strategic engagement with Apex Geoscience Ltd., which was followed by the appointment of Sudbury-based Vital Drilling Services as the drilling contractor on June 18. Both announcements indicated that the company was on track to begin field operations by the end of the month, a timeline that has now been met.

Jason Gigliotti, President and CEO of Makenita Resources, described the launch of the drill campaign as “a pivotal time” in the company’s development. He stated that the firm is optimistic about the potential outcomes and confident in the groundwork laid through geological modelling and contractor partnerships. According to Gigliotti, drilling is not only about resource discovery but also a validation of the company’s broader exploration thesis, which ties historical silver-cobalt production potential to modern exploration science.

How are institutional investors and sector analysts viewing the outlook for Makenita Resources?

Though still early in its development cycle, Makenita Resources has begun to draw attention from mining investors and junior resource funds focused on silver and battery metal assets. Analysts have noted that silver-cobalt districts such as the Larder Lake Mining Division remain underexplored at depth, with few modern drill campaigns conducted in the past two decades.

Sentiment in the junior resource space has also shifted in recent quarters due to strengthening commodity prices and rising global demand for energy transition metals like cobalt. With Ontario offering a mining-friendly regulatory framework and proximity to established infrastructure, projects such as Hector are viewed as well-positioned from a jurisdictional risk standpoint.

Makenita Resources’ recent confirmation that its OTC Pink symbol KENYF is now DTC-eligible may also enhance retail and institutional visibility in the U.S. market. Greater liquidity in cross-border trading is often viewed as a signpost of maturity for early-stage exploration firms seeking to expand their shareholder base beyond Canada.

What are the next expected developments for the Hector Silver-Cobalt Project and how might they influence Makenita’s valuation?

The immediate focus for Makenita Resources will be to complete the maiden drill campaign and analyze core samples from the Block 9 and South Keora targets. Initial assay results will likely serve as the primary determinant of near-term investor sentiment and dictate whether additional drill phases will be funded or expanded.

Should results confirm economically significant grades of silver and cobalt mineralization, the company may pursue a follow-on exploration round, including downhole geophysics, step-out drilling, and resource estimation. Such outcomes could materially elevate Makenita Resources’ standing among peers in the Canadian junior exploration space and attract further institutional interest.

While the firm has not provided an explicit timeline for results, investors are expected to watch closely for lab assay data in the weeks to come, which will be the first independent validation of the firm’s geological targeting methodology.