Three companies released results from projects in Mexico during the week. Heliostar Metals presented the first results from a 12,500 m drilling program at La Colorada, in Sonora, where residual leaching is taking place since ceasing operations in September of 2023. Heliostar is focusing on near surface extension of known veins and upgrading and expanding mineralization beneath the Creston pit, aiming to finish a technical report by January 2025. This report will not include the results here presented, but these will be incorporated into a resource model on the feasibility study to be published by mid-2025.

Guanajuato Silver Company provided results from drilling at the Pinguico project in Guanajuato. The company is exploring the potential of the Pinguico and San Jose veins along strike to the south. A single 659 m hole was drilled to understand the relationship between Veta Madre (a regional structure) and the Pinguico vein. The hole intersected 60 m in core length of a highly altered, deformation zone associated with the Veta Madre fault zone, and “an interval of stockwork with 0.56 gpt gold over an estimated true width of 1.13m”. The Guanajuato district is known for its low sulfidation epithermal style mineralization.

Results from five drill holes at the Cristina project in Chihuahua were reported by Fuerte Metals. At the site are multiple outcropping quartz veins “frequently greater than 10 metres in width” that extend for at least five km along strike, with four parallel vein zone having been mapped and sampled. The holes reported here are from a 160 m stretch of the Los Ingleses vein system. Mineralization is deemed as low sulfidation epithermal or mesothermal in the technical report, but the description of the alteration, the geological environment and the geochemical signature supports the reassignment to intermediate sulfidation epithermal mineralization related to a porphyry copper system.