Category: Exploration and Development

Southern Silver reported initial results from definition drilling at Puro Corazon, including 35.0 metres averaging 188 g/t silver, 4.9% lead and 4.6% zinc, or 399 g/t silver equivalent. The ongoing 14,000-metre program is designed to upgrade resource classification at the Cerro Las Minitas project.

Silverco’s PEA for the producing La Negra mine outlines an 8.2-year mine life averaging 4.1 million silver-equivalent ounces annually. At $50/oz silver, the project generates an after-tax NPV5% of US$329 million, 131% IRR and two-year payback, requiring US$20.9 million in initial capital.

Heliostar reported that the Ana Paula feasibility study is 34% complete and remains scheduled for Q2 2027. An updated resource estimate and metallurgical work are nearing completion, with permitting advancing without material delays. The company targets a mid-2027 construction decision and first gold production before year-end 2028.

Luca Mining agreed to acquire the Cozamin underground copper-silver mine from Capstone Copper for US$290 million upfront and up to US$95 million in deferred and contingent consideration. The acquisition is expected to more than double Luca’s 2027 production and significantly increase its copper exposure, revenue and operating cash flow.

Americas Gold and Silver reported strong Cosalá drill results, including 20.5 metres grading 654.7 g/t silver and 1.5% copper, and 14.1 metres grading 409.3 g/t silver and 0.8% copper. Grades averaged two to three times existing inferred resources, supporting potential resource growth and improved mine planning.

Kootenay Silver expanded the D Vein at Columba to approximately 1,320 metres of strike and 600 metres depth. Highlights include 6.28 metres grading 274 g/t silver and 17 metres grading 178 g/t silver. The 60,000-metre program has completed 29,700 metres, with results reported for 42 holes and 14 awaiting assays.

Tocvan intersected 81.1 metres grading 0.48 g/t gold and 3.3 g/t silver at El Mezquite, including 47.7 metres at 0.80 g/t gold and 2.75 metres at 8.44 g/t gold. Results confirm broad near-surface mineralization and extend the prospective corridor to approximately 1.4 kilometres.

Silver Tiger will join VanEck’s GDXJ ETF following its September rebalance. Construction of the El Tigre silver-gold project in Sonora remains on schedule for commissioning and first pour in December 2027. Detailed engineering is 65% complete, road improvements 85%, camp installation 50% and major earthworks 30%.

Axo Metals intersected 18.0 metres grading 8.15 g/t gold at the Sapuchi deposit within its San Antonio project in Sonora. Initial step-out drilling also encountered strong near-surface mineralization 750 metres beyond the existing resource, demonstrating potential to materially expand the project’s mineralized footprint.

Capitan Silver reported high-grade results from 35 holes at Cruz de Plata in Durango, expanding the Jesús María Silver Trend to 2.8 kilometres and discovering two new zones at depth. Highlights include 1.1 metres grading 1,363.1 g/t AgEq and 29 metres grading 181.4 g/t AgEq. Assays remain pending for 78 holes.