Four companies, GoGold Resources, Axo Copper, Luca Mining and Pan American Silver presented results during the week from drilling campaigns on projects in Mexico. Last week’s results presented by Coeur drilling are now included.

At Los Ricos South, in Jalisco, Go Gold Resources released drilling intervals from the current exploration program focused on geological and IP targets, to extend the known mineralization from El Abra deposit thorough the Los Llamas zone to the Cerro Colorado zone. The drill holes in this release were not included in the mineral resource estimate published in January 2025, same report on which the mineralization is described as of low sulfidation epithermal characteristics.

Axo Copper announced new results from its phase II drill program at La Huerta project, in Jalisco. The drilling focused on Las Marias at the La Huerta trend intercepted chalcopyrite and bornite mineralization. The project is one of the few properties in Mexico where exploration is focused mainly on copper mineralization. According to Axo, that mineralization is of iron oxide copper gold (IOCG) affinity.

Luca Mining reported results from its 2,500 m phase II underground and surface drill program at Tahuehueto, in Durango. The program is focused on the Santiago deposit and on the Creston and Perdido veins. “The objective of the current campaigns will be a combination of in-fill and step-out drilling to demonstrate the vertical and horizontal extent of mineralization as well as to target thick, high-grade mineralized breccia zones known to exist within the epithermal vein system”.

Pan American Silver presented results from 65,000 m of drilling across 170 holes at its La Colorada mine in Zacatecas. “The Mariana vein now spans an approximate strike length of 1,000 metres with a vertical extent exceeding 350 metres, while the NC2 vein system exceeds 2,000 metres on strike with a vertical extent of over 500 metres”. Skarn mineralization was intercepted below the vein systems demonstrating a new skarn exploration target. The drilling also extended the Geronimo and Cristina veins, with mineralization extending 500 m horizontally and 500 m vertically. A new style of mineralization was identified at the lithological contact between volcanic and sedimentary rocks in the southeastern mine area, representing potential for expanding mineral resources. “The zone of contact-related mineralization remains largely open for expansion in most directions”.

Finally, Coeur Mining presented last week assay results from the recently acquired Las Chispas mine in Sonora, results that were not included in the week’s drilling resume. The press release highlights the presence of narrow high-grade mineralization of up to 0.45 m @ 126 gpt Au, 14,020 gpt Ag at the NLC 2 vein. The North Las Chispas vein was discovered in September 2024 and presents up to 0.30 m @ 158 gpt Au, 13,430 gpt Ag. The 0.7 m thick Augusta vein, a new discovery in the Gap zone, has been traced for 320 m along strike and 150 m down dip. with mineralization. The La Sorpresa vein 300 m long along strike and 70 m down dip, presents an intercept of 24.8 gpt Au, 3,444 gpt Ag. Nine rigs target additional resource growth on this classic low sulfidation epithermal system.   

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