Category: Exploration and Development

Questcorp Mining Inc. is advancing surface exploration at its La Union Gold-Silver Project in Sonora, Mexico, ahead of a 1500-meter drilling program in mid-August. The company, holding an option to earn 100% interest from Riverside Resources, identified stacked thrust faults and intrusive bodies, enhancing the project’s mineralization potential. Sampling and road maintenance are ongoing, with drill contracts nearing finalization.

Xali Gold Corp. has completed data compilation for the Sarape silver-gold Project in Northern Mexico, optioned from Advanced Lithium Corp. Located 20 km from the Las Chispas Mine, Sarape features two low-sulphidation epithermal veins with high-grade potential. Surface samples show up to 3.66 g/t Au and 177 g/t Ag. Xali Gold plans further exploration to delineate drill targets.

Advance Metals (ASX: AVM) has agreed with Endeavour Silver to earn 100% interest in the high-grade Guadalupe y Calvo gold-silver project in Mexico over four years. Located in the Sierra Madre Occidental, the project has a 2021 resource estimate of 9.5Mt at 2.7g/t AuEq (816,000 oz). Historical drilling shows strong results, including 15m at 16.8g/t Au and 373g/t Ag.

Pinnacle Silver and Gold Corp. reported high-grade assays from underground channel sampling at the Pinos Cuates mine, El Potrero Project, Mexico, with up to 85.1 g/t Au and 520 g/t Ag over 0.5m. Composite assays include 50.3 g/t Au and 269 g/t Ag over 1.7m. The company plans underground drilling to define the mineralized zone’s extent.

Guanajuato Silver Company Ltd. reports high-grade vein intercepts at its San Ignacio Mine, Mexico, including 8.20m true width at 536 g/t AgEq and 1.06m at 2,585 g/t AgEq in the Santo Nino zone. Development work is underway to access these gold-rich areas for mining in 2025, leveraging existing infrastructure for rapid exploitation.

Heliostar Metals Ltd. will restart mining at San Agustin Mine in H2 2025, targeting 45,000 gold ounces from the Corner Area, with a post-tax NPV5% of US$35.25M, IRR of 548%, and CAPEX of US$4.2M at US$3,000/oz gold. Drilling in H2 2025 will focus on oxide and sulphide targets to extend mine life.

Oroco Resource Corp.’s subsidiary, Minera Xochipala, signed an option agreement with Aztec Zinc to acquire 100% of the Vainilla Mineral Concession in Sinaloa, Mexico, covering 2,974 hectares near the Santo Tomás Project. The concession hosts polymetallic mineralization, offering exploration potential for copper and related metals. Oroco plans a staged exploration program, including IP surveys, mapping, and drilling. The option involves cash and share payments, with a 1.5% NSR royalty upon exercise, pending TSX-V approval.

Torex Gold Resources Inc. reported strong drilling results from the EPO deposit’s northern extension at the Morelos Complex, Mexico. Highlights include 55.18 gpt AuEq over 20.1 m (ML24-1049DA) and 6.17 gpt AuEq over 15.0 m (ML24-1048D). The 2024 program added 233,000 oz AuEq to Inferred Resources. Drilling aims to expand resources and extend production beyond 2035, with first EPO production expected by late 2026.

Minaurum Gold Inc. announced high-grade silver results from the Promontorio Sur vein zone at its Alamos Silver Project in Sonora, Mexico. Drilling intersected 1.05 m of 272 g/t AgEq and 4.95 m of 174 g/t AgEq, indicating potential for deeper high-grade mineralization. The 1.5 km-long zone, part of the 3.5 km Promontorio-Quintera trend, remains a significant exploration target.

Kingsmen Resources Ltd. signed a non-binding LOI to acquire the Almoloya gold-silver project in Chihuahua’s Parral Mining District, 30 km from its Las Coloradas project. Covering 866.25 hectares, the consolidated claims target epithermal and CRD deposits. Historical production at Cigarrero Mine yielded 1.25M tonnes at 600 g/t Ag.