Twenty one companies released results from drilling programs in Mexico during the first quarter of 2026. The highest gold intercept was at Heliostar’s Ana Paula project in Guerrero, with more than 55 m averaging 9.71 gpt Au, including a 10.9 m subinterval over 38 gpt Au. Ana Paula, which is part of the Guerrero Gold Belt, presents skarn and replacement mineralization with significant gold in sulfide rich breccias, with an uncommon late epithermal overprint. Other projects displaying skarn mineralization include Adelita in Sonora and Cerro Las Minitas in Durango. The only volcanogenic massive sulfides (VMS) deposit in the list is Campo Morado, in Guerrero, which attained a well-deserved second place with its long multigram gold intervals.
Epithermal systems represent 70 percent of the entries in the table below. High sulfidation deposits are the least numerous within the epithermal cohort in Mexico, but when economic, tend to be reasonably big and present in clusters. The three deposits here: Halcón, Cerro Pelón and Puerto del Aire (PDA) are in the Mulatos District in Sonora, and within the six top positions in the table. Intermediate sulfidation epithermal deposits are the most numerous, although more common in the lower part of the table, and include Tahuehueto, La Colorada (Zacatecas), Cusi, La Preciosa, San Acacio, Alamos Silver and Las Coloradas. Low sulfidation epithermal deposits include La Virginia, Yoquivo, Copalquín and Claudia. Cruz de Plata presents discrete intermediate and low sulfidation mineralization, while Panuco is dominated by low sulfidation mineralization but presents locally intermediate sulfidation characteristics.
Orogenic gold deposits are represented by EP (El Plomo) and La Unión, (proposed here) in Sonora. Finally, Dios Padre, also in Sonora, is a strongly zoned breccia distal to a porphyry copper system.
Summarizing, seventeen of the twenty-four projects on the list are epithermal systems, three present some type of skarn mineralization, two show orogenic gold style characteristics, one is a breccia related to a porphyry copper system and one, the top of the list, is a volcanogenic massive sulfides deposit.
