Mexico has been historically a major silver producer, and the 2023 drilling intercepts attest to the shiny metal abundance in the country. Intercepts of more than 1,000 gpt*m silver were obtained from 39 ore deposits/targets across many states.

Results from just five projects surpassed the 10,000 gpt*m mark this year, with the best silver intercept by far being the one from GoGold’s Los Ricos South project in Jalisco, with 55 m averaging 2,153 gpt, or 118,399 gpt*m, more than doubling the second-best result of Pan American Silver from La Colorada, in Zacatecas. The three other projects to surpass the 10,000 gpt*m were El Tigre in Sonora from Silver Tiger, Panuco in Sinaloa from Vizsla and San Marcial from GR Silver, also in Sinaloa.

The historical silver production in Mexico has come mainly from low and intermediate sulfidation epithermal deposits, and that fact is represented in that two thirds of the projects (31 out of 49) on the table are examples of this type of mineralization, including nine of the ten top positions. If all nine of Torex Gold’s intercepts in the table are clumped together, this ratio would jump to three quarters for epithermal, or 76%, 12% for skarn, 5% for porphyry copper, and the remaining 7% to a mix of Orogenic gold, high sulfidation epithermal and complex ore deposits.

On spatial distribution, Chihuahua, Sonora and Sinaloa have the biggest number of projects producing good silver intercepts, with eight, seven and seven respectively, followed by Durango and Zacatecas with five each. Jalisco only has three, but includes the top performer Los Ricos South project. Guanajuato and Oaxaca both are twice on the table and Nayarit displays only one project in the table.