Category: Exploration and Development

Goldgroup updated work across four assets: San Francisco has 26,000 metres of drilling plus technical studies and mine planning for a potential restart; Don David completed 25,726 metres in 123 holes through July, mainly for resource definition and expansion, alongside regional exploration; Cerro Prieto is assessing heap re-leaching with sonic drilling; Back Forty’s feasibility study continues.

Riverside and Questcorp have funded Phase 2B at La Union, expected to start in November. The 600-metre RC program will test a kilometre-scale IP anomaly and sediment-hosted gold at Luis Hill, plus a projected Union Mine structure near channel samples grading 20.2 g/t gold, 226 g/t silver and 2.7% zinc over 30 metres. Road and drill-pad work is underway.

Sierra Madre has started a 30,000-metre drill program in La Guitarra’s East District, where mapping has outlined vein systems spanning more than 39 km. A purpose-built rig arrived October 29; the first 11 sub-horizontal holes will target Magdalena and Los Locos at projected depths exceeding 1,000 metres. October mill throughput averaged 751 tonnes per day.

Chesapeake has mobilized a fully funded 5,000-metre drill program at Lucy after geochemical work expanded the gold-mineralized surface footprint from 700 metres to 2 kilometres. Central Corridor trenching returned 7.5 metres grading 1.97 g/t gold. Drilling will test the Discovery and Central corridors and geophysical anomalies; first assays are expected in Q1 2027.

Mithril extended high-grade gold-silver mineralisation at Target 4, Copalquin, along the Copalquin-Zaragoza structure from 550 to 700 metres. A standout intercept graded 1,738 g/t silver equivalent over 0.5 metres. Sampling near historic San Manuel returned up to 16.55 g/t gold and 616 g/t silver; the corridor remains open for expansion.

Zacatecas Silver received the SEMARNAT drill permit and secured private-land access for Oso Negro. Its drill-ready maiden program plans 2,500 metres of diamond drilling from 20 pads across the Prospecto and Tere veins, targeting beneath surface samples grading up to 20.3 g/t gold and 3,480 g/t silver. Drilling has not yet been reported.

Luca intersected 18.7 metres grading 6.28 g/t AuEq at Tahuehueto’s Creston Vein, including 7.1 metres at 8.55 g/t. The zone is near existing underground workings in an area scheduled for mining in H1 2027, potentially adding high-grade mill feed. Other results include 13.7 metres at 3.33 g/t AuEq at Catorce and 11.6 metres at 5.21 g/t at Santiago.

Algo Grande Copper discovered the gold-rich Margarita skarn at its Adelita project in Sonora, Mexico. Hole AG-CG-PH2-003 returned separate intervals totaling 139.81 metres grading 1.3% copper equivalent, including 87.98 metres at 1.6% CuEq in Cerro Grande 2. Margarita returned 14.37 metres at 1.1% CuEq, approximately 250 metres from previously intersected mineralization.

Grupo México plans to invest US$4–6 billion in Asarco over three years, including expanding Arizona’s Ray mine and studying a potential restart of the Hayden smelter and refinery, which could process 1.4 million tonnes of copper concentrate annually. Silver Bell remains under feasibility study. Group Q3 copper production fell 1.9% year over year to 260,322 tonnes.