Category: Exploration and Development

Axo Copper (TSXV:AXO) is acquiring the San Antonio Gold Project (Sonora, Mexico) from Osisko Development. The past-producing project hosts 576 koz Au Indicated (1.20 g/t) and 544 koz Au Inferred (1.02 g/t) in open-pittable oxides/transition/sulphides, with full infrastructure. Consideration: shares giving Osisko 9.99% and OR Royalties 4.99% of Axo, plus contingent payments and an amended 7.15% Au/Ag stream (30% of spot). Closing expected Q4 2025.

Pinnacle Silver and Gold Corp. (TSXV:PINN) has completed a high-resolution airborne LiDAR and aerial photography survey over its entire 11 km² El Potrero high-grade gold-silver project in Durango, Mexico. The survey will reveal hidden structures, veins, and historic workings beneath vegetation to guide upcoming drilling and fast-track the low-capex restart of the past-producing project near four operating mines. Results expected mid-December.

Guanajuato Silver (GSilver) is acquiring Endeavour Silver’s Bolanitos mine in Guanajuato, Mexico for up to US$50M (US$40M upfront + US$10M contingent). Bolanitos, producing ~2.5M AgEq oz in 2024, becomes GSilver’s 5th mine, integrating San Ignacio for cost savings and adding Cebada project. Deal closes January 2026.

Heliostar Metals reports high-grade gold intercepts from Ana Paula drilling in Mexico, including 83.2m at 17.35 g/t Au (46.65m at 27.35 g/t), 70.7m at 9.38 g/t, 92.1m at 4.33 g/t, and 65.2m at 5.39 g/t. Program expanded 33% to 20,000m for resource conversion and exploration, supporting feasibility study with low $1,011/oz AISC.

Advance Metals (ASX:AVM) has recommenced diamond drilling at its 100% owned high-grade Yoquivo Silver-Gold Project in Chihuahua, Mexico. The fully funded ~3,000m program targets depth and lateral extensions to the existing 17.23Moz AgEq (570 g/t) Foreign Estimate at Pertenencia, plus new high-grade regional veins (up to 1,594 g/t AgEq at surface). Drilling continues into early 2026, supported by historic core resampling, to deliver an upgraded JORC resource.

IMPACT Silver (TSXV:IPT) reported high-grade zinc intercepts from underground drilling at the Juarez Zone, Plomosas mine, Mexico. Highlights include 2.15m at 22.1% Zn, 3.3% Pb, 19 g/t Ag and 1.15m at 28.1% Zn, 4.1% Pb, 22 g/t Ag. All intercepts outside existing resources; zone remains open. Two drills active on near-mine extensions.

GR Silver Mining (TSXV: GRSL) reported step-out drill results from San Marcial, Plomosas Project, Mexico. Hole SMS25-12 extended high-grade silver mineralization 75m below the current resource, intersecting 5.0m @ 232 g/t Ag (incl. 0.9m @ 956 g/t Ag and 0.2m @ 2,602 g/t Ag) plus 8.8m @ 121 g/t Ag. Mineralization remains open at depth; further expansion drilling planned for H1 2026.

Kootenay Silver (TSXV: KTN) announced drill results from the first 7 holes of its 50,000m program at Columba Project, Mexico, revealing high-grade silver intercepts (up to 921 g/t Ag over 0.71m) on D Vein/I Vein plus a new discovery of broad porphyry-style gold zones (e.g., 101m @ 0.18 g/t Au; up to 0.85 g/t Au over 6m) with molybdenite, indicating potential for a separate gold-porphyry system. Drilling continues with plans to add rigs.

Silverco released additional drill assay results from its 2025 Cusi drill program in Chihuahua, Mexico, including standout intercepts like 3.4 m at 425 g/t AgEq and 1.5 m at 764 g/t AgEq, confirming strong high-grade silver-lead-zinc-gold mineralization. The results support continued potential expansion of the Cusi deposit and feed into an upcoming Mineral Resource Estimate update.

Defiance Silver completed a major trenching program at its San Acacio project in Zacatecas, Mexico, sampling 2.1 km of the Veta Grande vein. Results confirm strong surface continuity with highlights up to 5,180 g/t Ag and 4.85 g/t Au, supporting the upcoming mineral resource estimate.