Copy
Mogul Mountain Ventures Reopens Historic Priest Tunnel and Advances Exploration at Rays-West Dome Gold-Silver Project
October 1, 2026 — Leads & Copy — Mogul Mountain Ventures Corporation (TSX.V: MOGL; Frankfurt: 9HG0) is advancing exploration at its 100%-owned Rays-West Dome Gold-Silver Project in Tonopah, Nevada, with the reopening of the historic Priest Tunnel and progress on underground exploration at the AP Adit. The company is also preparing to drill high-priority targets across the project.
The Priest Tunnel, a significant underground development constructed in the early 1900s, has been reopened by Mogul. This approximately 1,500-foot tunnel provides direct access to the geology and mineralized structures of the Rays North area, which has seen minimal modern exploration. Initial geological observations within the tunnel indicate extensive calcite flooding, strongly altered limestone, brecciation, multiple generations of fracturing and mineral infill, and a pebble dyke. These features suggest repeated and extensive hydrothermal fluid movement, warranting systematic exploration.
An experienced mining contractor has inspected the accessible Priest workings, finding them in good condition with limited rehabilitation anticipated before detailed geological mapping and sampling can commence. The next phase at Priest will involve detailed geological and structural mapping and systematic sampling to further understand the alteration, structures, and potential controls on mineralization. It is important to note that these observations are preliminary and no conclusions regarding grade or economic significance can be made from visual observations alone.
Mogul has also been working with Nevada Rand Mining and Development LLC, an underground mining contractor, on a site review that included the Priest Tunnel, AP Adit, Discovery area, and the Voodoo Shear. The review focused on underground access, rehabilitation requirements, potential drill locations, and the use of existing historic workings to support modern exploration. The company is also evaluating the potential to safely re-access historic mine shafts at Voodoo, Enterprise, and Ibex, which will be subject to further engineering, safety assessment, permitting, and budget considerations.
At the AP Adit, one of Mogul's three principal high-priority drill target areas, a staged underground drilling program is underway. This program includes underground site preparation and the drilling of short probe holes from multiple orientations. These initial holes aim to provide geological information around existing workings, evaluate potential parallel vein structures, and characterize gold mineralization. Mogul is also assessing additional drill locations near the historic stope area for anticipated underground core drilling using a compact underground core drill.
In parallel with its underground exploration, Mogul is preparing for an initial surface drilling program at West Dome, another of the company's three high-priority drill target areas. Drill targets at West Dome have been identified based on geological, structural, geochemical, and geophysical work, along with historic drilling information. Mogul is currently engaging with drilling contractors for the proposed program and will provide further details as plans are finalized.
“Reopening Priest gives us direct access to an important part of the Rays system that has seen very little modern exploration,” said Mike Kobler, President and Director of Mogul. “The extent of hydrothermal alteration we have observed is encouraging, and the overall condition of the tunnel should allow our geological team to begin detailed mapping and sampling with relatively limited rehabilitation.”
“Rays-West Dome is a target-rich gold-silver exploration environment, and we are advancing our priority drill targets. We have identified three principal areas for drilling - West Dome, the Rays Shear and underground at the AP Adit along the Voodoo Shear,” Kobler added. “The work underway at AP is an important step in advancing that drill target, while we are working with drill contractors on our initial program at West Dome.”
Mogul Mountain Ventures Corporation is advancing the 100%-owned Rays-West Dome Gold-Silver Project, a district-scale land package comprising more than 5,300 acres near Tonopah, Nevada, on the prolific Walker Lane trend. The project hosts both orogenic and low-sulfidation epithermal gold-silver mineralization. David Flint, CPG, a Technical Advisor to Mogul, has reviewed and approved the scientific and technical information in this news release.