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The Mining and Exploration News in Mexico: Highlights on the Fifth Week of July, 2025

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sigmoidal en-echelon quartz vein

By Miguel A Heredia

During the 31st week of the year (July 28th to August 03rd 2025), at least 36 press releases were announced by companies working in Mexico, with sixteen disclosing deals and corporate issues, nine reporting resources and developments of their properties, five communicating production results, four announcing financing rounds, and two commenting on Mexican issues.  ON MEXICO ISSUES, Almaden provided an update on its arbitration with Mexico under the Comprehensive Progressive Agreement for Trans-Pacific Partnership (CPTPP) because of actions that led to the loss of their Ixtaca project investment in Puebla. Impact Silver, Guanajuato Silver and Gold Resource reported the best drilling intercepts in Mexico on the fifth week of July, 2025.  ON EXPLORATION, no relevant news.  ON MINING, Americas Gold and Silver reported Q2, 2025 consolidated results (Cosala min, Sinaloa). Santacruz Silver Mining announced Q2, 2025 production results from its Zimapan mine in Hidalgo. Alamos Gold presented Q2, 2025 production and financial results from its Mulatos mine in Sonora. Starcore reported year end 2025 results from its San Martin mine in Queretaro. Agnico presented Q2, 2025 production results from its Pinos Altos mine in Chihuahua). ON FINANCING, GR Silver announced a CAD $12M bought deal LIFE offering of units (Plomosas project, Sinaloa).  Masivo declared that is expects to close a CAD $1.2M funded round by Mid-August, 2025 (Cerro Colorado project, Sonora). Southern Silver closed its previously announced bought deal LIFE private placement for gross proceeds of CAD $15M (Cerro Las Minitas project, Durango). Sierra Madre closed the second and final tranche of its previously announced non-brokered private placement for gross proceeds of USD $1,750,000 (Guitarra mine, Estado de Mexico). ON RESOURCES AND DEVELOPMENT, Impact Silver released underground drill results from the Santo Domingo Zone at its Plomosas mine in Chihuahua. Guanajuato Silver announced high-grade gold intercepts at its Valenciana mine complex in Guanajuato. Agnico advanced in Q2, 2025 its Feasibility Study on San Nicolas project, Zacatecas, which remains in schedule to be completed by year-end. Tocvan received permit for all drilling and extraction to advance pilot mine development at its Gran Pilar project in Sonora. Kootenay finalized its first mineral resource estimate for the Columba Project in Chihuahua. Mithril Silver and Gold reported significant high-grade results from channel sampling at its Copalquin property in Durango. Vizsla Silver and Vizsla Royalties completed a regional HLEM geophysical survey and initial fieldwork across its Panuco district and newly acquired Santa Fe property in Sinaloa to identify new high-grade mineralization targets. Gold Resource released H1, 2025 drill results from its Don David gold mine in Oaxaca and reported operational improvements. ON DEALS AND CORPORATE ISSUES, Goldgroup announced that its common shares will commence trading on OTCQX under the symbol “GGAZF” (Cerro Prieto mine, Sonora). Silver Viper granted incentive stock options to directors, officers, and consultants (La Virginia project, Sonora). Sierra Madre announced that it has granted stock options to employees of La Guitarra Compañia Minera, certain directors, management, and consultants (La Guitarra mine, Estado de Mexico).Xali Gold provided an update on their Mexican projects (Sarape project, Sonora and El Oro, Estado de México).  Guanajuato Silver announced the appointment of Rick Trotman as its Senior Vice President and granted stock options to officers and employees of the company (El Cubo mine, Valenciana mine complex, and San Ignacio mine, all located in Guanajuato). Sierra Metals presented voting results of its annual general and meeting of shareholders (Bolivar mine, Chihuahua). Royalties Inc., entered into an agreement to acquire USD $500K in shares of Music Royalties (Bilbao project, Zacatecas). Sonora Desert announced that TSX Venture Exchange has approved to change its name to Brasnova Energy Material Inc., (Cuatro Hermanos project, Sonora).  Torex entered into a definitive agreement to acquire all the issued and outstanding common shares of Prime Mining (El Limon Guajes Mine Complex, Guerrero).  Discovery Silver appointed its CFO (Cordero project, Chihuahua). Elemental Altus reported voting results from its annual general and special meeting and granted restricted share units stock options to directors (royalty on Mercedes mine, Sonora). Goldgroup retained Venture Liquidity to initiate its market-making service to provide assistance in maintaining an orderly trading market for the common shares of the company (Cerro Prieto mine, Sonora). Regency Silver reported voting results of its annual general and special meeting of shareholders (Dios Padre project, Sonora).  Royalties Inc., provided an update on its dispute with Capstone over a 2% Net Smelter Royalty (NSR) on five mining concessions known as the “Portree claims” at the Cozamin mine in Zacatecas. Alpayana completed the privatization of Sierra Metals (Bolivar mine, Chihuahua). ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUES

  • Almaden Minerals Ltd., provided an update on its arbitration with Mexico under the Comprehensive Progressive Agreement for Trans-Pacific Partnership (CPTPP) because of actions that led to the loss of their Ixtaca project investment in Puebla. Mexico’s attempt to bifurcate (separate) the proceedings to delay the case was rejected by the arbitration panel. The company emphasized that the procedural delay was motivated by Mexico’s desire to postpone responses and prolong the process. Almaden, which formerly held 100% of the Ixtaca project, aims to resolve the dispute with an update expected in Q4, and remains cautious about risks related to Mexico’s rule of law and political environment.

Impact Silver Corp., Guanajuato Silver Company Ltd., and Gold Resource Corporation reported the best drilling intercepts in Mexico on the fifth week of July, 2025. in Mexico on the third week of July, 2025. Details are shown in the table below:

ON EXPLORATION

  • No relevant news.

ON MINING

  • Americas Gold and Silver Corporation announced Q2, 2025 consolidated results. It reported consolidated silver production of 689K Oz and unaudited consolidated cash balance as at June 30, 2025 of USD $61.7M without disclosing figures per mine operation (Cosala mine, Sinaloa).
  • Santacruz Silver Mining Ltd., announced Q2, 2025 production results from its Zimapan mine in Hidalgo. The company processed 224,162 tonnes of 77 g/t Ag, 2.6% Zn, 0.8% Pb, and 0.22% Cu with metallurgical recoveries of 7!%, 77%, 76%, and 45% respectively, to produce 398.3K Oz Ag,  10.13M Lb Zn, 2.81M Lb Pb, and 0.51M Lb Cu.
  • Alamos Gold Inc., presented Q2, 2025 production and financial results from its Mulatos mine in Sonora. The company produced 34.1K Oz Au and sold 32.85K Oz Au at total cash cost and AISC of USD $1,017 and USD $1,084 per Oz Au sold respectively. Cost of sales per Oz Au sold (included amortization) was USD $1,437. Alamos also reported revenue of USD $110.6M and adjusted EBITDA of USD $260.2M. The company also announced its production guidance for 2025 and expects to produce between 130K-150K Oz Au at total cash and AISC of USD $925-975 and USD $1,025-$1,075 per Oz Au sold respectively.
  • Starcore International Mines Ltd., reported year end 2025 results from its San Martin mine in Queretaro. The company milled 197.9K tonnes with averages grades of 1.58 g/t Au and 14 g/t Ag with metallurgical recoveries of 81.7% and 56.7% respectively to produce 8.3K Oz Au and 49.3K Oz Ag (8.9K Oz AuEq) at cash  and AISC of USD $ 1,888 and USD $2,662 per Oz AuEq respectively. Starcore reported revenues of CAD $9.4M; income from mining operations of CAD $6.3M; income for the year of CAD $0.2M; and EBITDA of CAD $2.8M.
  • Agnico Eagle Mines Limited presented Q2, 2025 production results from its Pinos Altos mine in Chihuahua). The company milled 441K tonnes of 1.58 g/t Au to produce 21,363 Oz Au at a production cost of USD $2,367 per Oz Au; a total cash cost (co-product basis) of USD $2,440 per Oz Au; and  a total cash cost (by-product basis) of USD $2,002 per Oz Au.

ON FINANCING

  • GR Silver Mining Ltd., announced a bought deal LIFE offering of 60,000,000 units at a price of CAD $0.20 per unit for gross proceeds of CAD $12M. Gross proceeds will be used to advance its Plomosas project in Sinaloa, working capital, and general corporate purposes.
  • Masivo Silver Corporation declared that is expects to close a CAD $1.2M funded round by Mid-August, 2025. With a drill credit of CAD $75K and part of the equity raised in the financial round, Masivo plans to start drilling at Cerro Colorado project in Sonora in Q4 2025 after finalizing agreements with Minera Goldzone and partners.
  • Southern Silver Exploration Corp., closed its previously announced bought deal LIFE private placement of 55,555,557 units at a price of CAD $0.27 per unit for gross proceeds of CAD $15M. Net proceeds will be used for the advancement of the Cerro Las Minitas project in Durango, as well as for working capital and general corporate purposes.
  • Sierra Madre Gold and Silver closed the second and final tranche of its previously announced non-brokered private placement, which consisted of 2,500,000 units at a price of USD $0.70 per unit for gross proceeds of USD $1,750,000. Funds raised in first and second tranches totalled USD $19, 500,600.  The company intends to use the gross proceeds to expand the capacity of the Guitarra mine in Estado de Mexico, conduct a detailed exploration program, including drilling, at the East District, and for working capital and general corporate purposes.

ON RESOURCES AND DEVELOPMENT

  • Impact Silver Corp., released underground drill results from the Santo Domingo Zone at its Plomosas mine in Chihuahua. Assays results are shown in the table below.

Guanajuato Silver Company Ltd., announced high-grade gold intercepts at its Valenciana mine complex in Guanajuato. Drilling results are presented in the table below:

  • Agnico Eagle Mines Limited advanced in Q2, 2025 its Feasibility Study on San Nicolas project, Zacatecas, which remains in schedule to be completed by year-end. San Nicolas is 50/50 joint venture with Teck Resources Limited. The company also announced that it received an exploration permit authorizing additional drill pads across the property, and reported that Minas San Nicolas approved an USD $8.8M budget to conduct drilling activities focused on geotechnical, hydrological, and geological evaluation in proximity to the projected mine area.
  • Tocvan Ventures Corp., received permit for all drilling, trenching and extraction at Gran Pilar project, Sonora. The permits allow for 45 new drill pads enabling over 30,000m to expand resources and enhance the geological model as well as to explore high-grade target zones. It also includes 67 trenches across Gran Pilar for exploring and extraction of material for pilot mine. It pushes the company closer to running a 50,000 tonnes pilot mine development, refining their resource estimates, and to support its goal of advancing towards production.
  • Kootenay Silver Inc., finalized its first mineral resource estimate for the Columba Project in Chihuahua. A total of 17 epithermal veins that comprise the Columba vein system were included in the Mineral Resource Estimate (MRE). They’ve identified, at a base-case cut-off grade of 150 g/t Ag, inferred mineral resources of 5.92M tonnes grading 284 g/t Ag, 0.2% Pb, and 0.50% Zn. The MRE includes inferred mineral resources of 54.1M Oz Ag, 25.2 M Lb Pb, and 65.6M Lb Zn. The MRE is exclusive of mined out material (F Vein). Kootenay also mentioned that they´ve started a new phase of drilling to expand these mineralized zones even further.
  • Mithril Silver and Gold Limited reported significant high-grade results from channel sampling at its Copalquin property in Durango. Highlights include Target 6 with high-grade assays from channel sampling at the historical Santa Cruz underground mine, with notable results including 0.70m of 57.8 g/t Au and 2,120 g/t Ag; 0.80m of 17.4 g/t Au and 603 g/t Ag; 0.50m of 8.42 g/t Au and 188 g/t Ag; and 0.70m of 23.2 g/t Au and 755 g/t Ag; and Target 5  with surface channel sampling returning 0.5m of 27.9 g/t Au and 14 g/t Ag; 0.30m of 9.6 g/t Au and 608 g/t Ag. The mineralized corridors now cover an area of 2 km x 8 km with an elevation profile of 1,200 m within the 70 km² mining concession area. Mithril is fully funded to complete 45,000 meters of drilling over the next 12 months, with plans to commence drilling at Target 5 in mid-August 2025. 5. The results from both Targets 5 and 6 indicate a significant high-grade potential in the Copalquin District, which is developing into a notable gold-silver district in Mexico’s Sierra Madre trend. These highlights reflect the ongoing exploration success and the promising future of the Copalquin property.
  • Vizsla Silver Copor., and Vizsla Royalties Corp., announced preliminary results from a regional HLEM geophysical survey and initial fieldwork across its Panuco mining district and newly acquired Santa Fe property in Sinaloa. The HLEM survey at Panuco identified new near-surface anomalies including Santa Fe property, and supports resource expansion on known structures and proximal targets in Panuco West. Resource extension targets include Copala, Napoleon, HW4, La Luisa, and La Cruz Negra, each with potential for expansion through further drilling. Key exploration objectives for 2025 include completing +25,000 meters of drilling by the end of 2025, a TEM survey, district mapping, and generating near-mine drilling targets at Santa Fe. They’re focused on expanding their current Project #1 resource and hunting for a new major target, Project #2, using a range of techniques including drilling, mapping, and electromagnetic surveys. The work aims to better understand the structures controlling mineralization and identify fresh high-grade zones, especially around the Copala and Napoleon vein corridors. Their exploration focuses on structural controls such as NW-trending faults and vein corridors like Copala and Napoleon, which influence mineralization. The Santa Fe property’s infrastructure and prospective geology are expected to complement their ongoing district-wide exploration efforts. The Colorada-Napoleon intersection is a conceptual target supported by AI analysis and HLEM anomalies. 4 de Mayo shows high-grade silver intercepts, with HLEM geophysics identifying anomalies for follow-up drilling. San Jack and San Peter are parallel structures with quartz veining and hydrothermal alteration, with HLEM anomalies defining conductor anomalies over these targets. La Pipa is a high-grade shoot along the Animas vein system, with plans to drill +8,000 meters to follow up on the discovery. Camelia-San Dimas, San Fernando-Nacaral, El Roble, Oregano and La Wicha, and Jesusita-Palos Verdes are notable targets for testing. The San Enrique prospect comprises titled mining claims between Panuco and Santa Fe. LiDAR and airborne magnetic surveys show strong NW-trending lineaments, indicative of regional faults. Multispectral satellite imagery and a LiDAR survey will assist during target generation, with regional mapping and stream-sediment geochemistry planned. The La Garra-Metates District constrains silver-gold-rich epithermal veins. Rock chip samples returned silver equivalent grades greater than 200 g/t. The district holds strong potential for discovering high grade mineralization.
  • Gold Resource Corporation released H1, 2025 drill results from its Don David gold mine in Oaxaca, and reported operational improvements. Drilling highlights are shown in the table below:

In addition, Gold Resource has implemented several operational improvements at Don David Gold mine to enhance efficiency and productivity. The Company engaged Cominvi Servicios S.A. de C.V. for accelerated development, completing over 1,350m of underground work. New cut-and-fill mining methods were introduced to enhance grade and returns, alongside the ordering of a third dry stack filter press to boost processing throughput. A comprehensive review of the process plant is underway to optimize reagent use, which is expected to improve recoveries and increase the amount of payable metals. Initial trials have already shown promising results. These improvements are aimed at increasing operational efficiency, reducing costs, and maximizing shareholder value while integrating the newly defined vein systems into the mine’s short-term production plans.

ON DEALS AND CORPORATE ISSUES

  • Goldgroup Mining Inc., announced that its common shares will commence trading on OTCQX Best Market under the symbol “GGAZF”. The company maintains its primary listing on the TSX Venture Exchange under the symbol “GGA” (Cerro Prieto mine, Sonora). 
  • Silver Viper Minerals Corp., granted 1,375,000 incentive stock options to directors, officers, and consultants to purchase up to 1,375,000 common shares. The incentive stock options have an exercise price of CAD $0.58 per share, expire five years from the date of grant, and vest immediately (La Virginia project, Sonora).
  • Sierra Madre Gold and Silver Ltd., announced that it has granted stock options to employees of La Guitarra Compañia Minera S.A. de C.V., certain directors, management, and consultants to purchase an aggregate of 2,750,000 common shares at a price of $0.73 per share for a period of years from the grant date (La Guitarra mine, Estado de Mexico).
  • Xali Gold Corp., declared that is pivoting their exploration efforts in South America, focusing on acquiring advanced-stage gold projects, while it continues moving forward with its Sarape project in Sonora where drilling is planned for Q4, 2025/Q1, 2026. The company also announced that they´ve run into issues at the El Oro project in Estado de Mexico, with nine concessions being declared cancelled. It could significantly impact Xali Gold´s operation by halting exploration and development activities on approximately 35% of the land package within the project area. Xali believes that these cancellations are unlawful because proper legal procedures were not followed; including failure to receive formal notices and the absence of a 60-day cure period as required by Mexican law. Xali Gold is actively reviewing legal options to contest or revoke the cancellations, which could mitigate potential operational disruptions if successful.
  • Masivo Silver Corp., provided an update on its Mexican projects. It announced that it is experiencing difficulties in obtaining financial information from its Mexican operations which has delayed the preparation of its annual financial statements and related filings (annual MD&A, CEO and CFO certifications, etc). The company has now completed the necessary financial and is in the process of completing the audit, which is expected to be finalized by August 31, 2025. Masivo has requested a voluntary management cease trade order (MCTO) to restrict trading in the company´s securities by insiders.
  • Guanajuato Silver Company Ltd., expanded its senior management team with the appointment of Rick Trotman as its Senior Vice President. The company also granted 2,200,000 stock options to officers and employees of the company at an exercise price of CAD $0.32. The stock options will expire on July 29, 2030 (El Cubo mine, Valenciana mine complex, and San Ignacio mine, all located in Guanajuato).
  • Sierra Metals Inc., presented voting results of its annual general and meeting of shareholders At the Meeting, Sierra Shareholders approved the amalgamation of Sierra Metals and a new wholly-owned subsidiary of the company, which will be incorporated shortly. The amalgamation constitutes the “subsequent acquisition transaction” contemplated by the offer of Alpayana Canada Ltd., to acquire all of the issued and outstanding common shares at an offer price of CAD $1.15 per common share that expired at 5:00 p.m. (Toronto time) on May 23, 2025 (Bolivar mine, Chihuahua).
  • Royalties Inc., entered into an agreement to acquire 8,333,333 shares of Music Royalties Inc., at a price of USD $0.50 per share for a value of USD $500K, (Bilbao project, Zacatecas).
  • Sonora Desert Copper Corporation announced that TSX Venture Exchange has approved to change its name to Brasnova Energy Material Inc., and will commence trading under the symbol “BEM” (Cuatro Hermanos project, Sonora). 
  • Torex Gold Resources Inc., entered into a definitive agreement to acquire all the issued and outstanding common shares of Prime Mining Corporation. Prime shareholders will receive 0.060 of a Torex share for each Prime Mining share, representing an 18.5% premium. Upon completion, Prime shareholders will own approximately 10.7% of Torex.  The deal enhances Torex’s asset portfolio in Mexico, notably adding Prime’s Los Reyes project, which has significant gold and silver resources. The transaction requires approval of at least 66⅔% of the votes cast by Prime Mining shareholders and securityholders, and a simple majority excluding votes from certain shareholders under MI 61-101. The transaction is subject to regulatory approvals, including TSX approval and Mexican antitrust clearance, and is expected to close in the second half of 2025. A termination fee of USD $12.5M is payable to Torex by Prime under certain circumstances if the transaction is not completed (El Limon Guajes Mine Complex, Guerrero).
  • Discovery Silver Corp., appointed its CFO effective immediately (Cordero project, Chihuahua).
  • Elemental Altus Royalties Corp., reported voting results from its annual general and special meeting and granted 360,000 restricted share units and 782,850 stock options to directors who join the company in 2025 (royalty on Mercedes mine, Sonora).
  • Goldgroup Mining Inc., retained Venture Liquidity Providers Inc., (VLP) to initiate its market-making service to provide assistance in maintaining an orderly trading market for the common shares of the company. Goldgroup has agreed to pay VLP CAD $5,000 per month for a period of 3 months. Following the initial term of 3 months, the agreement will automatically renew for successive additional 1-month terms and the agreement may be terminated at any time by the Goldgroup or VLP (Cerro Prieto mine, Sonora).
  • Regency Silver Corp., reported voting results of its annual general and special meeting of shareholders (Dios Padre project, Sonora).
  • Royalties Inc., provided an update on its dispute with Capstone over a 2% Net Smelter Royalty (NSR) on five mining concessions known as the “Portree claims” at the Cozamin mine in Zacatecas. The Third Commercial Court of Zacatecas ruled in favor of Minera Portree, affirming their ownership of a 2% NSR and ordering Capstone to pay royalties. Capstone has filed an appeal against the judgement, but Royalties Inc. believes the court’s decision is strong and that its claim to the royalty is legitimate. The judgment and ongoing legal process reinforce Royalties Inc.’s position in the dispute, emphasizing the asset’s significance and potential increase in value due to rising copper and silver prices. The 2% NSR on the Portree 1 claim, which represents up to 30% of the 1.5 km strike length of the Mala Noche Footwall Zone, could generate up to USD $2.5M annual cash flow, plus an estimated USD $9M in retroactive payments for production since 2019.
  • Alpayana S.A.C., completed the privatization of Sierra Metals Inc., through an amalgamation with its subsidiary, Amalco, resulting in Sierra Metals being a wholly owned private company. Shareholders exchanged their Sierra shares for Amalco shares, and Alpayana acquired all preferred shares, making Amalco fully owned by Alpayana. Consequently, Sierra Madre will be delisted from the Toronto Stock Exchange (Bolivar mine, Chihuahua).

ON SOCIAL RESPONSIBILITY

  • No relevant news.

Content like what you have just read can be seen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group.

On the picture below, sigmoidal en-echelon hydrothermal quartz vein in a shear zone in an intermediate sulphidation epithermal vein system in a project in Chihuahua, Mexico. Photo taken by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the Fourth Week of July 2025

/ Gambusino Prospector / Leave a comment

By Jorge Cirett

By Jorge Cirett
During the 30th week of the year (July 21fst to July 27th, 2025), companies working in Mexico presented 29 press releases. Three companies presented news on their early-stage properties. Five companies presented quarterly operational updates, one more restarted mining on an idle property and another had a pit wall failure. Seven companies reported on financial rounds. Two companies presented drilling results from their operating mine/advanced property and one more announced the commencement of a drill program.  Three companies reported on acquisition woes, litigation and appointments to the board. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, In Sonora, Questcorp Mining informed on geologic mapping advances at La Unión; Xali Gold updated on exploration at Sarape. In Durango Pinnacle Silver and Gold presented underground channel sample results. ON MINING, Heliostar Metals is restarting mining operations at San Agustin. Avino Silver & Gold Mines, Mag Silver, Teck Resources, Gold Royalty and Newmont presented Q2 2025 results. Orla Mining informed on a pit wall collapse. ON FINANCING, seven companies informed on financing rounds: Goldgroup Mining (C$12 M), Sierra Madre Gold and Silver (C$17.75 M), Mammoth Resources (C$0.55 M), Mithril Silver and Gold (C$11.5 M), Garibaldi Resources (C$1.02 M), Pacifica Silver (C$1.0 M) and Pinnacle Silver and Gold (US$1.65 M). ON RESOURCES AND DEVELOPMENT, Kootenay Silver is to start drilling at Columba in Chihuahua. Guanajuato Silver Company released drilling results from San Ignacio, in Guanajuato. GR Silver Mining announced drilling results from the San Marcial deposit at Plomosas in Sinaloa. ON DEALS AND CORPORATE ISSUES, Sierra Metals complained about comments by Alpayana SAC. Guanajuato Silver has been sued by a service provider. Equinox Gold announced changes to the board. ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUES

  • No Relevant News.  

ON EXPLORATION

  • Pinnacle Silver and GoldCorp. Presented results from underground channel sampling in the historic Pinos Cuates mine at El Potrero project in Durango. Highlighted results of composite samples comprise 1.0 m @ 34.6 gpt Au, 228 gpt Ag; 1.7 m @ 50.3 gpt Au, 269 gpt Ag; 4.2 m @ 9.8 gpt Au, 141 gpt Ag, 1.8 m @ 8.3 gpt Au, 8 gpt Ag. “A total of 42 channel samples were taken in 16 composite channels in the raise. Grades ranged from 0.105 to 85.1 g/t Au and 9 to 520 g/t Ag … The Pinos Cuates mine is the middle of three historic mines along a 500 metre strike length on the Dos de Mayo vein system on the Potrero property. Underground sampling is continuing at the Dos de Mayo mine to the southeast and will be followed by sampling of the La Dura mine to the northwest. The vein system has been traced on surface for 1,600 metres”.
  • Xali Gold Corp. has completed strategic data compilation studies on the Sarape project, under option from Advanced Lithium Corp. in Sonora. The low sulfidation epithermal mineralization presents in two veins: The 3 to 12 m wide Sarape vein recognized for 5,000 m, and the 3 m wide Chiltepin vein traced over 2,500 m on the surface. The classic boiling textures, near-equal proportions of quartz and calcite, and anomalous Sb-Au-Ag values suggest that the veins represent the upper levels of a low sulfidation epithermal system with good potential for stronger mineralization at depth. Highlighted core length intervals from 2019 drilling include 4.26 m @ 0.52 gpt Au, 11 gpt Ag; 1.4 m @ 0.55 gpt Au, 31 gpt Ag; 2.24 m @ 0.57 gpt Au, 24 gpt Ag; 11.57 m @ 0.22 gpt Au, 6 gpt Ag; 6.75 m @ 1.49 gpt Au, 7 gpt Ag.
  • Questcorp Mining Inc. informed of on-going surface exploration in preparation for drilling at La Union project in Sonora, on which the company has an option to earn 100% interest. Multiple stacked thrust faults have been identified in the mineralized area, enhancing the potential. “Rock and soil sampling continues with numerous samples dispatched to the laboratory for analysis”.

ON MINING

  • Heliostar Metals Ltd.  announced the restart of operations at the San Agustin mine, in Durango, from where currently the company produces gold from residual leaching. Heliostar plans to mine the Corner area to produce 45,000 Oz Au, generating US$40 M in cashflow at a US$3,000 gold price. In July 2025 Heliostar complied with all required applications and received the required approval to undertake this open pit expansion and received the authorization to increase the height of the San Agustin leachpad from 77 to 88 m in height. Preliminary work is to be carried out in Q3 and Q4, allowing to first stacking of new ore and new gold production in Q4, 2025. Immediate focus for growth is on near-surface oxide material, of which several targets for exploration have been recognized.  A large low grade sulfide mineralized volume underlies the oxide material, but a few higher grade intervals have been intercepted, like 297 m @ 0.49 gpt Au, 25 gpt Ag, 0.2% Pb, 1.0% Zn and 196 m @ 0.60 gpt Au, 15 gpt Ag, 0.1% Pb, 1.0% Zn. The last model built by Heliostar geologists implies that the bulk of the gold and silver mined to date is from an intermediate sulfidation vein system that sits above intrusive related breccias. This interpretation generated four new porphyry/breccias targets for drill testing.
  • Avino Silver & Gold Mines Ltd. released production figures for the second quarter of 2025. At the Avino mine in Durango, the company processed 191 K tonnes averaging 55 gpt Ag, 0.39 gpt Au, 0.42% Cu, recovering 85% Ag, 74% Au, 83% Cu, to produce 283.6 K Oz Ag, 1,774 Oz Au, 1.46 M Oz Ag (645.6 K Oz AgEq). Construction of the 360 m San Fernando main access at La Preciosa is underway. At the end of the period the company had US$37 M in cash, remaining debt-free.
  • Mag Silver Corp. reported production from Juanicipio (56% Fresnillo plc/44% Mag Silver), in Zacatecas. All results are on a 100% basis: 343 K tonnes were milled, grading 417 gpt Ag, 1.21 gpt Au, 1.71% Pb, 3.34% Zn, to produce 4.34 M Oz Ag, 10,465 Oz Au, 11.55 M Lb Pb, 20.5 K M Lb Zn.
  • Teck Resources Ltd. reported unaudited second quarter results for 2025. The company, that does not have operating mines in Mexico, had C$2,023 M in revenue, for gross profit of C$471 M and a gros profit before depreciation and amortization of C$832 M with an EBITDA of C$722 M (Developing San Nicolas mine in Zacatecas; 50% Teck, 50% Agnico Eagle).
  • Orla Mining Ltd. provided an update on the recent pit wall event at its Camino Rojo mine in Zacatecas. “Camino Rojo experienced an uncontrolled material movement on the temporary north wall within the open pit. There were no injuries, nor was there any damage to equipment or the environment as a result of the event”. Although ramp access to the pit remains unaffected open pit operations were temporarily suspended while the necessary geotechnical assessments are conducted to ensure safe remediation and the eventual resumption of mining. Approximately 390 K tonnes of material moved into the pit, material that will be crushed and staked on the heap leach in the medium term. Crushing and stacking of run-of-mine ore and stockpile material will continue, to mitigate the short-term impact on production with a current stockpile of 2.24 M tonnes averaging 0.32 gpt Au.
  • Gold Royalty Corp. announced preliminary results for the second quarter of 2025. Total revenue, land agreement proceeds and interest amounted to US$4.4 M. Gold Royalty maintains its 2025 full-year production guidance of 5,700 to 7,000 Oz AuEq (Royalty on Cozamin, Zacatecas).
  • Newmont Corp. presented second quarter 2025 results, and an additional US$3 B share repurchase program. The company reported net income of US$2.1 B an adjusted EBITDA of US$3.0 B. The company had a consolidated production of 1,478,000 Oz Au, of which 148,000 Oz Au were produced at Peñasquito, in Zacatecas, at an AISC of $944 per Oz Au. Peñasquito also produced 8 M Oz Ag, 27 K tonnes Pb, 67 K tonnes Zn.

ON FINANCING

  • Goldgroup Mining Inc. has revised the terms of its previously announced non-brokered private placement for aggregate gross proceeds of up to C$12 M (Cerro Prieto, Sonora).
  • Sierra Madre Gold and Silver Ltd. upsized its previously announced “best efforts” private placement to aggregate gross proceeds of up to C$19.5 M (La Guitarra, Estado de México).
  • Mammoth Resources Corp. announced the closing of a first tranche of its upsized private placement of up to C$980 K for gross proceeds of C$546 K (Tenoriba, Chihuahua).
  • Sierra Madre Gold and Silver Ltd. closed the first tranche of its previously announced private placement for aggregate gross proceeds of US$17.75 M. Certain directors and officers of the company participated in the offering subscribing units for US$480 K. “In connection with the closing of the First Tranche, the Company paid the Agents a cash fee of $1,171,933 and issued to the Agents 1,674,190 compensation options” (La Guitarra, Estado de Mexico).
  • Mithril Silver and Gold Ltd. closed its previously announced brokered private placement for aggregate gross proceeds of C$11.5 M. The company paid a cash fee of C$690 K to the agents representing 6% of the gross proceeds of the offering and issued to the agents 1.92 M shares representing 6% of the aggregate number of shares issued by the company under the offering (Copalquin, Durango).
  • Garibaldi Resources Corp. “announces that, further to its News Releases of May 9, 2025, July 4, 2025 and July 18, 2025, the number of units (each, a “Unit”) sold and the dollar amount raised in the non-brokered private placement (the “Offering”) were incorrectly stated. The correct amount of Units sold is 14,537,702 Units at a price of $0.07 per Unit for gross proceeds of $1,017,639.16. The Offering was oversubscribed by $17,639.16” (Rodadero, Sonora).
  • Pacifica Silver Corp. closed its previously announced non brokered private placement for C$1 M in gross proceeds. No finder’s fee was paid under the offering. CEO Mr. Todd Anthony and Mr. Ramon Medoza, a director of the company, subscribed for C$100 K and C$10 respectively, with their participation being considered a related party transaction (Claudia, Durango).
  • Pinnacle Silver and Gold Corp. increased its non-brokered private placement to now raise gross proceeds of up to US$1.65 M (El Potrero, Durango).

ON RESOURCES AND DEVELOPMENT

  • Kootenay Silver Inc.  announced drill crews will arrive at the Columba project in Chihuahua by month’s end. Two drill rigs are to start the 50,000 m drilling program during the month of August. “The first 25,000 to 30,000 meters will focus on expanding the size of existing resource bodies in the D, F, and B/Lupe Veins. The mineralized zones in all veins remain open either down dip, along strike or both directions”. A recently published mineral resource of 5.92 M tonnes grading 284 gpt Ag, 0.19% Pb, 0.50% Zn contains 54.1 M Oz Ag, 25.2 K tonnes Pb, 65.6 K tonnes Zn.
  • Guanajuato Silver Company Ltd. released results from drilling at its San Ignacio property in Guanajuato. Nine underground holes have been completed in 1,000 metres of drilling on the Santo niño and Melladito and Nombre de Dios zones. Highlighted true width intercepts comprise 1.30 m @ 1.5 gpt Au, 24 gpt Ag; 1.30 m @ 1.7 gpt Au, 5 gpt Ag; 2.10 m @ 4.3 gpt Au, 353 gpt Ag; 0.44 m @ 2.4 gpt Au, 14 gpt Ag; 0.99 m @ 1.1 gpt Au, 13 gpt Ag; 0.61 m @ 1.4 gpt Au, 22 gpt Ag; 1.08 m @ 2.5 gpt Au, 3 gpt Ag; 2.34 m @ 4.9 gpt Au, 165 gpt Ag; 8.20 m @ 5.7 gpt Au, 54 gpt Ag (including 0.60 m @ 15.1 gpt Au, 13 gpt Ag; 0.83 m @ 13.7 gpt Au, 158 gpt Ag); 1.06 m @ 28.5 gpt Au, 164 gpt Ag; 4.46 m @ 2.2 gpt Au, 99 gpt Ag. “The mineralization highlighted within the tables above is within proximity to existing infrastructure and the Company expects to expedite development to these zones so that they can be sequenced for extraction in 2025”.
  • GR Silver Mining Ltd. announced drilling results from the on-going step-by drilling program in two areas of the San Marcial deposit within its 43,187 ha Plomosas project in Sinaloa. The company is exploring and validating the extension of mineralization near the resource area. “Comprehensive interpretation and 3D modelling of ground geophysical data have outlined a large, regional intrusive-related anomaly”. A hydrothermal breccia has returned wide intervals of Ag mineralization with higher grades exhibiting intense chloritization, a hallmark in the San Marcial district. Highlighted core length intervals comprise 18.0 m @ 0.02 gpt Au, 32 gpt Ag, 0.1% Pb, 0.1% Zn; 23.3 m @ 0.01 gpt Au, 44 gpt Ag, 0.2% Pb, 0.3% Zn; 26.0 m @ 0.01 gpt Au, 114 gpt Ag, 0.1% Pb, 0.2% Zn (including 11.9 m @ 0.01 gpt Au, 214 gpt Ag, 0.2% Pb, 0.3% Zn); 36.0 m @ 0.28 gpt Au, 121 gpt Ag, 0.1% Pb, 0.1% Zn (including 0.4 m @ 1.14 gpt Au, 641 gpt Ag, 0.1% Pb, 0.1% Zn and 0.3 m @ 0.08 gpt Au, 1,982 gpt Ag, 0.5% Pb, 0.2% Zn); 0.4 m @ 10.30 gpt Au, 726 gpt Ag, 0.1% Pb, 0.1% Zn; 0.2 m @ 34.30 gpt Au, 2,359 gpt Ag, 0.1% Pb, 0.1% Zn.

ON DEALS AND CORPORATE ISSUES

  • Sierra Metals Inc. stated that Alpayana S.A.C. made unfounded allegations in a press release relating to the takeover and demanded in a letter to deprive key senior officers of Sierra Metals of employee entitlements on a change of control by amending contractually agreed terms. To read the lengthy argument, please read the news release: https://gambusinoprospector.com/wp-content/uploads/2025/07/2025-07-21_sierra-metals-responds-to-alpayana.pdf  (Bolívar, Chihuahua).
  • Guanajuato Silver Company Ltd. announced that NucTech Mexico, S.A. de C.V. has commenced litigation in Mexico City against the company. NucTech alleges that Guanajuato Silver has not compensated it for the installation and use of NucTech’s mineral sorting equipment at the San Ignacio mine in Guanajuato and is claiming compensation for future equipment rentals over a 10-year period. The Company believes that the litigation has no merit and will vigorously defend itself.
  • Equinox Gold Corp. announced Greg Smith has stepped down as chief executive officer (CEO) and Director, and Darren Hall, current president and chief operating officer (COO), has been appointed Chief Executive Officer and Director (Los Filos, Guerrero).

ON SOCIAL RESPONSIBILITY

  • No Relevant News.

On the image below: Chlorite lined fracture with late calcite center in monzonite porphyry on HQ core. Picture by Jorge Cirett.

The Mining and Exploration News in Mexico: Highlights on the Third Week of July, 2025

/ gambusinoprospectormexico / Leave a comment

Barite crystals

By Miguel A Heredia

During the 29th week of the year (July 13th to July 20th 2025), at least 38 press releases were announced by companies working in Mexico, with fifteen disclosing deals and corporate issues, fifteen announcing financing rounds, three reporting resources and developments of their properties, two communicating production results, two informing on exploration results, and one commenting on Mexican issues.  ON MEXICO ISSUES, Torex Gold and Minaurum Gold reported the best drilling intercepts in Mexico on the third week of July, 2025.  ON EXPLORATION, In Sonora, Minaurum Gold reported drill results from a new vein zone target at the Promontorio Sur within its Alamos project. In Zacatecas and San Luis Potosi, Silver Valley Metals re-initiated exploration at the Mexi-Can Potash-Lithium project.  ON MINING, Altius reported Q2, 2025 expected attributable royalty revenue of CAD $12M (Llano de Nogal project, Sonora). Bear Creek reported Q2, 2025 production results from its Mercedes mine in Sonora. ON FINANCING, Vizsla Silver announced that after it completed bought deal offering of 33,334,000 common shares at a price of USD $3 per share, the underwriters have purchased an additional 5,000,100 common shares for gross proceeds of USD $15,000,300 (Panuco project, Sinaloa).  Pinnacle arranged a non-brokered private placement for gross proceeds of USD $1.2M (El Potrero project, Durango). Sierra Madre entered into a best offer private placement for gross proceeds of up to USD $10M, which later on it upsized of up to USD $16.5M (La Guitarra mine, Estado de Mexico).  Southern Silver announced bought deal LIFE private placement for gross proceeds of CAD $8M, the same that later on it upsized to CAD $13M (Cerro Las Minitas project, Durango). Mammoth upsized its previously announced non-brokered private placement to up to CAD $980K (Tenoriba project, Chihuahua). Roberto Resources announced a non-brokered private placement for gross proceeds of CAD $1M (Claudia project, Durango).  Aura Minerals published that it priced and closed its US initial public offering of 8,100,510 common shares at a price of USD $24.25 per share (Aranzazu mine, Zacatecas). Colibri announced that it intends to amend terms of outstanding debentures, warrants, and finder’s options issued in 2023 (Gran Pilar project, Sonora). Capitan Silver generated CAD $6.6M through the accelerated exercise of warrants (Cruz de Plata project, Durango). Garibaldi closed a non-brokered private placement for gross proceeds of CAD $1M (Tonichi project, Sonora). Goldgroup announced a non-brokered private placement for gross proceeds of up to 15,000,000 units at a price of CAD $0.80 per unit for gross proceeds of up to CAD $12M (Pinos project, Zacatecas). Prismo Metals upsized and closed its previously announced private placement for gross proceeds of CAD $575K (Palos Verdes project, Sinaloa).  ON RESOURCES AND DEVELOPMENT, Starcore shared an update on its San Juan Nepomuceno or Tortilla project in Queretaro. Orla filed an updated NI 43-101 technical report on Camino Rojo mine in Zacatecas. Torex Gold reported drill results from its EPO deposit within the El Limon Guajes and Media Luna mine complex in Guerrero. ON DEALS AND CORPORATE ISSUES, Apollo Silver entered into an investor relations agreement with Matthews Investments (Cinco de Mayo project, Chihuahua). Vizsla Royalties announced its participation at the Emerging Growth Conference (Panuco project, Sinaloa). US Antimony provided an update on its antimony supply effort for its Madero smelter in Coahuila. GR Silver announced incentive plan grants to eligible persons in accordance with the Omnibus Long-Term Incentive Plan (Plomosas project, Sinaloa). Defiance Silver signed a definitive agreement to acquire all issued and outstanding common shares of Green Earth Metals (San Acacio project, Zacatecas). Almaden announces intention to migrate Canadian stock exchange listing from TSX to TSX Venture Exchange (Ixtaca project, Puebla).  Candelaria Mining reported voting results from its annual general meeting of shareholders. Roberto Resources completed the acquisition of the Claudia project in Durango and announced change of its name to Pacific Silver.  Pinnacle declared that it has engaged the services of an independent trading group to provide market-making services (Potrero project, Durango). Oroco entered into an option agreement to acquire a 100% interest in the Vainilla mineral concession located in the Choix mining district in Sinaloa. Starcore announced significant corporate developments (San Martin mine, Queretaro).  Minera Alamos reported voting results from its annual general meeting of shareholders (Santana mine, Sonora). Almadex announced completion of gold loan repayment by Almaden (El Cobre project, Veracruz).  ( ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUES

  • Torex Gold Resources Inc., and Minaurum Gold Inc., reported the best drilling intercepts in Mexico on the third week of July, 2025. Details are shown in the table below:

ON EXPLORATION

  • Silver Valley Metals Corp., re-initiated exploration at the Mexi-Can Potash-Lithium project in Zacatecas and San Luis Potosi. The company will be conducting metallurgical studies on potash extraction, focusing on the extraction of sulphate of potash from surface sediments across all salars within the project area; will undertake auger drilling to assess the depth and extents of sedimentary basins across the project´s salars; will initiate hydrological testing to gain a clear understanding of the geochemical and physical properties of near-surface brines across all salars; and will carry out a geophysical program to map subsurface structures and identify high-potential zones for deeper brine targets.
  • Minaurum Gold Inc., reported drill results from a new vein zone target at the Promontorio Sur within its Alamos project in Sonora. The 1.5 km-long vein zone is an unmined extension of a 3.5km long Promontorio-Quintera structural-grade vein system trend, with significant historical silver production nearby, which has produced over 70M Oz Ag at Promontorio mine and over 100M Oz Ag at La Quintera mine. Promontorio and Promontorio Sur also indicate a significant skarn/carbonate replacement (CRD) mineralization hosted by limestone in the footwall of the vein zones. The lead-zinc (gold) skarn/CRD event appears to have occurred later than the epithermal silver-copper mineralization and represents a large target. Drilling results are shown in the table below:

ON MINING

  • Altius Minerals Corporation reported Q2, 2025 expected attributable royalty revenue of CAD $12M (Llano de Nogal project, Sonora).
  • Bear Creek Mining Corporation reported Q2, 2025 production results from its Mercedes mine in Sonora. The company mined 91.945 tonnes and processed 89,488 tonnes of 2.88 g/t Au with a metallurgical recovery of 96% to produce 7,973 Oz Au and 33,932 Oz Ag.

ON FINANCING

  • Vizsla Silver Corp., announced that after it completed bought deal offering of 33,334,000 common shares at a price of USD $3 per share, the underwriters have purchased an additional 5,000,100 common shares for gross proceeds of USD $15,000,300. Gross proceeds will be used to advance the exploration and development of the Panuco project in Sinaloa, exploration of the Santa Fe project, which is adjacent to Panuco project, potential future acquisitions, as well as for working capital and general corporate purposes.
  • Pinnacle Silver and Gold Corp., arranged a non-brokered private placement of up to 20,000,000 units at a price of USD $0.06 per unit for gross proceeds of USD $1.2M. Net proceeds will be used to advance El Potrero project in Durango, and for general working capital.
  • Sierra Madre Gold and Silver Ltd., entered into a best offer private placement of up to 14,290,000 units at a price of USD $0.70 per unit for gross proceeds of up to USD $10M. Later on, the company upsized the previously announced private placement to up to 23,572,000 units at a price of usd $0.70 for gross proceeds of up to USD $16,500,400 Gross proceeds will be used to expand the capacity of the La Guitarra mine, Estado de Mexico, and for working capital and general corporate purposes. 
  • Southern Silver Exploration Corp., announced bought deal LIFE private placement with a sole underwriter and bookrunner which has agreed to purchase for resale 29,629,630 units at a price of CAD $0.27 for gross proceeds of CAD $8M. Later on, Southern Silver upsized the previously announced bought deal private placement to 48,148,149 units at a price of CAD $0.27 for gross proceeds of CAD $13M.  The company plans to use the net proceeds for the advancement of the Cerro Las Minitas project in Durango, as well as for working capital and general corporate purposes.
  • Mammoth Resources Corp., upsized its previously announced non-brokered private placement of up to 30,000,000 units at an offering price of CAD $0.025 per unit for gross proceeds of up to CAD $750K to up to  39,000,000 units for gross proceeds of up to CAD $980K. Gross proceeds will be used to advance the Tenoriba project in Chihuahua, to evaluate potential project acquisitions and support working capital needs.
  • Roberto Resources Inc., announced a non-brokered private placement of 2,500,000 units at a price of CAD $0.40 per unit for gross proceeds of CAD $1M. Gross proceeds will be used for general working capital and future payables related to the acquisition of the Claudia project in Durango.
  • Aura Minerals Inc., published that it priced and closed its US initial public offering of 8,100,510 common shares at a price of USD $24.25 per share.  The principal purposes of this offering are to transfer Aura’s principal listing venue to a stock exchange in the US equity market, which the Company believes will increase the liquidity of its common shares, as well as strengthen and diversify its shareholder base through broader access to global capital markets. Aura plans to use the gross proceeds to continue strengthening its business, to provide incremental liquidity and financial flexibility to support the execution of its current strategic growth initiatives, to provide exploration initiatives to expand mineral reserves and resources of its portfolio, and for general corporate purposes (Aranzazu mine, Zacatecas).
  • Colibri Resource Corporation announced that it intends to amend terms of outstanding debentures, warrants, and finder’s options issued in 2023. The amendments include extending maturity dates for two years and reducing conversion/exercise prices from CAD $0.50 to CAD $0.25, with an alternative option to convert at CAD $0.15.  The amendments include an accelerated expiry clause if the company’s stock price exceeds CAD $0.30 for ten consecutive days, and insider holdings are exempt from certain regulatory requirements. These changes aim to strengthen Colibri’s balance sheet and support its Pilar project development in Sonora.
  • Capitan Silver Corp., generated CAD $6.6M through the accelerated exercise of 13,250,000 warrants, with an exercise price of CAD $0.50 (Cruz de Plata project, Durango).
  • Garibaldi Resources Corp., closed a non-brokered private placement of 14,401,988 units at a price of CAD $0.07 per unit for gross proceeds of CAD $1M. Gross proceeds will be used for exploration and working capital purposes.
  • Goldgroup Mining Inc., announced a non-brokered private placement for gross proceeds of up to 15,000,000 units at a price of CAD $0.80 per unit for gross proceeds of up to CAD $12M. Net proceeds will be primarily dedicated to the diligent assessment and strategic pursuit of acquisition opportunities (Pinos project, Zacatecas).
  • Prismo Metals Inc., upsized and closed its previously announced private placement of 5,000,000 to 11,500,000 units at an issue price of CAD $0.05 per unit for gross proceeds of CAD $575K. Prismo intends to use the gross proceeds for general corporate purposes  (Palos Verdes project, Sinaloa).

ON RESOURCES AND DEVELOPMENT

  • Starcore International Mines Ltd., shared an update on its San Juan Nepomuceno or Tortilla project in Queretaro. The project comprises six mineral claims covering a historical mine with exploration potential. During  the due diligence process, Starcore conducted cyanidation tests on samples that averaged 2.15 g/t Au, 968 g/t Ag, 0.01% Cu, 0.4% Pb, and 0.1% Zn, showing gold and silver metallurgical recoveries of 79.85% and 84.75% respectively using the carbon-in-leach (CIL) process, demonstrating  effective processing of the mineralized ore. The project with historical mining activity remains open at-depth with substantial lateral extension potential.
  • Orla Mining Ltd., filed an updated NI 43-101 technical report on Camino Rojo mine in Zacatecas to include the initial Underground Mineral Resource Estimate.
  • Torex Gold Resources Inc., reported drill results from its EPO deposit within the El Limon Guajes and Media Luna mine complex in Guerrero. “Drilling in the northern area of EPO to date in 2025 has been focused on the northern block of the west-northwest La Avispa fault, which controls a dike swarm of an estimated width of 150 to 200 m that represents a discontinuity between the main EPO mineralized zone to the south and its northern extension within the hanging wall of the fault. The current mineralization footprint in the north extends approximately 500 x 200 m with a west-northwest strike that has a significant vertical continuity ranging between 15 m to over 100 m between the interpreted boundaries of the favourable alteration zone that vertically extends for ~200 m. The lateral continuity of the mineralization is defined by the spacing between the dikes that varies from approximately 5 to 35 m, defining several mineralized blocks. Mineralization remains open to the north following the favourable alteration zone “. Drilling highlight are shown in the table below:

ON DEALS AND CORPORATE ISSUES

  • Apollo Silver Corp., entered into an investor relations agreement with Matthews Investments to provide Investor Relations services to the company. In consideration, Matthews will receive CAD $7K per month, payable monthly in arrears, for an initial term of three months, with the option for the Company to renew on a quarterly basis thereafter (Cinco de Mayo project, Chihuahua)
  • Vizsla Royalties Corp., announced its participation at the Emerging Growth Conference on July 16, 2025, a live interactive online event which will give existing shareholders and the investment community the opportunity to interact with the company´s President and CEO (Panuco project, Sinaloa).
  • US Antimony Corporation (USAC) provided an update on its antimony supply effort for its Madero smelter in Coahuila. Last March, 2024, USAC decided to stop their own mining operations in Mexico due to economic and regulatory challenges but continues to build strategic relationships with other companies seeking access to Mexican antimony deposits. Recently, USAC restarted the Madero Smelter in April 2025, following a substantial increase in antimony prices (over 500%). The company is actively negotiating new supplies and contracts, including a definitive agreement with Bolivian suppliers for initial shipments of approximately 10 tonnes, ramping up to 150 tonnes per month by early 2026. Additionally, USAC is exploring other potential sources in Mexico and attracting foreign interest, particularly from Chinese entities, amid limited new concessions from the Mexican government. USAC owns significant assets, including a flotation facility and the only operating smelter in Mexico, which provide strong negotiating leverage.
  • GR Silver Mining Ltd., announced incentive plan grants to eligible persons in accordance with the Omnibus Long-Term Incentive Plan. GR Silver granted an aggregate 3,837,205 Performance Share Units (PSU) to certain executive officers of the company (Plomosas project, Sinaloa).
  • Defiance Silver Corp., signed a definitive agreement to acquire all issued and outstanding common shares of Green Earth Metals Inc (GEMS).  GEMS is a privately held company based on British Columbia with a portfolio of three copper-silver projects in Sonora. Defiance issued an aggregate of 4,954,613 common shares to the shareholders of GEMS at a deemed price of CAD $0.255 per Defiance share in exchange for all issued and outstanding GEMS shares, based on an exchange ratio of one Defiance share for every 4.52 GEMS shares, for a total consideration of CAD $1,263,426 (San Acacio project, Zacatecas).
  • Almaden Minerals Ltd., announces intention to migrate Canadian stock exchange listing from TSX to TSX Venture Exchange. In order to complete this migration, the company has applied to voluntarily delist its shares from the TSX, and has received conditional approval from the TSXV to list its shares as a Tier 2 Mining Issuer. Almaden expects the delisting from the TSX to occur at the close of business on August 12, and the listing on the TSXV to commence at the open of business on August 13, 2025 (Ixtaca project, Puebla).
  • Candelaria Mining Corp., reported voting results from its annual general meeting of shareholders. 
  • Roberto Resources Inc., completed the acquisition of the Claudia project in Durango, pursuant to the binding letter agreement previously announced on June 30, 2025. Roberto Resources also announced that it changed its name to Pacifica Silver Corp., “to better reflect its overall business strategy to acquire and advance highly prospective precious metals projects in the Americas”. It also plans to change the symbol of its common shares to “PSIL”.
  • Pinnacle Silver and Gold Corp., declared that it has engaged the services of an independent trading group (ITG) to provide market-making services. Under the agreement, ITG will receive compensation of CAD $5K per month, payable monthly in advance. The agreement is for an initial term of one month and will renew for additional one-month terms unless terminated (Potrero project, Durango).
  • Oroco Resources Corp., entered into an option agreement through its wholly-owned Mexican subsidiary Minera Xochipala S.A. de C.V., to acquire a 100% interest in the Vainilla mineral concession which surrounds their Santo Tomas Project in Sinaloa by paying an initial USD $75K and 100,000 common shares to Aztec Zinc de Mexico S.A. de C.V., with semi-annual payments of USD $25K and 100,000 common shares thereafter.  To exercise the option, Oroco must pay USD $500K and issue 2,000,000 shares. Upon completion, a 1.5% Net Smelter Returns royalty will be granted to third parties, and Xochipala will be responsible for concession duties during the option period.  Vainilla covers about 2,974 hectares and hosts multiple mineralized zones, including skarns and breccia pipes, situated along a promising porphyry copper belt. The acquisition enhances Oroco’s control over the region, offering immediate exploration opportunities for copper and related metals, and complements their existing Santo Tomás project both geologically and strategically, supported by local government initiatives.
  • Starcore International Mines Ltd., announced significant corporate developments. On July 8, 2025, shareholders will receive one share of EU Gold Mining Inc. for every two shares of Starcore upon approval of the spin-out of exploration interests in Côte d’Ivoire. On July 10, 2025, Starcore secured a ten-year lease for San Juan Nepomuceno, a historical silver mine in Queretaro, gaining access to minerals and surrounding claims in a promising area. On July 14, 2025, the company confirmed its use of carbon-in-leach (CIL) processing technology at the San Martin mine in Queretaro, enhancing mineral recovery, aiming to increase shareholders value, as shown by recent metallurgical tests.
  • Silver Storm Mining Ltd., completed its acquisition of Till Capital through a court-approved plan of arrangement, resulting in Till shareholders receiving 16.36 Silver Storm units, with each unit comprising a common share, a warrant, and a contingent value rights (CVRs) tied to a potential sale of a stake in IG Far East LLC (the CVR contingent event). Silver Storm issued 52,211,558 unit shares, 13,052,890 warrants, and 52,211,558 CVRs to former Till shareholders, resulting in a new total of outstanding shares and warrants for Silver Storm.  Following the deal, Silver Storm now holds a significantly expanded share structure, and Till’s previous directors and officers have resigned. This arrangement positions Silver Storm to potentially benefit from future asset sales and operational developments.
  • Minera Alamos Inc., reported voting results from its annual general meeting of shareholders (Santana mine, Sonora).
  • Almadex Minerals Ltd., announced completion of gold loan repayment by Almaden Minerals Ltd. The repayment involves the return to Almadex of 397 Oz Au plus the payment of USD $5,194,354 (El Cobre project, Veracruz).

ON SOCIAL RESPONSIBILITY

  • No relevant news.

Content like what you have just read can be seen at https://gambusinoprospector.com/ and at LinkedIn’s Mexico Mineral Exploration Group.

On the picture below, large barite crystals in an intermediate sulphidation epithermal vein system in a project in Chihuahua, Mexico. Photo taken by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the Second Week of July 2025

/ Gambusino Prospector / Leave a comment

By Jorge Cirett

During the 28th week of the year (July 7th to July 13th, 2025), companies working in Mexico presented 38 press releases. Two companies presented news on one early-stage property. Five companies presented quarterly operational updates. Seven companies reported on financial rounds; one company requested a trading halt, another is trading now in the OTCID Market and another was re-listed on the TSX. Two companies presented drilling results from operating mines; two companies presented channel sample results from their projects; another company updated on its environmental permit.  Eleven companies reported on deals, acquisitions, payments, activities, arbitration procedures, spinouts, AGM’s and sales. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, In Sonora, Questcorp Mining is preparing for drilling at La Union. Fortuna Mining is not proceeding with the Cecilia project option. ON MINING, Endeavour Silver, GoGold Resources, Sandstorm Gold, Torex Gold and Orla Mining presented preliminary operational/production for Q2 2025. ON FINANCING, seven companies informed on financing rounds: Silver Strom Mining (C$4 M), Aura Minerals (US$210 M), Mithril Silver and Gold (C$11.5 M), Sonoran Desert Copper (C$1 M), Endeavour Silver (US$60 M), Silver Viper (C$3.5 M) and Orogen Royalties (C$10 M). Mithril Silver and Gold shares would have halted trading during the week. Royalties Inc. started trading in the OCID Market. Orogen Royalties re-listed in the TSX. ON RESOURCES AND DEVELOPMENT, Mithril Silver and Gold updated on exploration progress at Copalquin, in Durango. Impact Silver released drilling results from Campo Morado, in Guerrero. Impact Silver presented results from drilling at Plomosas, in Chihuahua. GR Silver reported underground channel sample results from the Plomosas mine in Sinaloa (Yes, a Plomosas mine in Chihuahua and another Plomosas mine in Sinaloa). Sonora Gold updated on the status of the environmental permit for its Cerro Caliche project in Sonora. ON DEALS AND CORPORATE ISSUES, Mag Silver reminds shareholders of the upcoming voting deadline on the company’s acquisition by Pan American Silver. Santacruz Silver Mining made a further payment on the Bolivian assets acquisition. Altius Minerals updated on its project generation business activities. Almaden Minerals made public the memorial on the arbitration procedure alongside Almadex Minerals Ltd. with Mexico under the CPTPP. Royal Gold is to acquire Sandstorm Gold. Starcore International Mines is to spin its West Africa interests. Kingsmen Resources is to acquire the Almoloya project in Chihuahua. Triple Flag Precious Metals is to acquire Orogen Royalties. Silver Storm Mining is acquiring all shares from Till Capital. Starcore International Mines is to acquire the Tortilla project in Queretaro. Almaden Minerals sold a mill and paid an outstanding gold loan to Almadex Minerals. ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUES

  • No Relevant News.  

ON EXPLORATION

  • Riverside Resources Inc. and Questcorp. Mining Inc. are preparing for the maiden drill program at the 2,520 ha La Union project in Sonora. The drilling will follow up on new geophysical and geochemical surveys in the search of a carbonate replacement (CRD) deposit. The program envisages 1,500 m of drilling in 7 holes 150-350 m deep to test at least three areas with historic mines.

ON MINING

  • Endeavour Silver Corp. reported second quarter 2025 production of 1.48 M Oz Ag, 7,755 Oz Au, or 2.5 M Oz AgEq. This is the first quarter that includes figures from a mine not in Mexico (Kolpa, Peru). At Guanaceví, in Durango, 96.8 K tonnes were processed (1,064 tpd), averaging 362 gpt Ag, 1.28 gpt Au, recovering 88.6% Ag, 89.7% Au, to produce 997.9 K Oz Ag, 3,562 Oz Au or 1.28 M Oz AgEq. At Bolañitos in Guanajuato, 88.1 K tonnes were processed (968 tpd) averaging 45 gpt Ag, 1.68 gpt Au, recovering 82.4% Ag, 88.3% Au, to produce 105.2 K Oz Ag, 4,193 Oz Au, or 440.7 K Oz AgEq. On Terronera, in Jalisco, the commissioning and ramp-up continues, with an average output during June of 1,232 tpd. “During commissioning of the plant, the underground mine has continued with mine development and stope preparation”.
  • GoGold Resources Inc. reported Q2 2025 production from its Parral tailings operations. The company produced during the period 201.6 K Oz Ag, 3,100 Oz Au, 128 tonnes Cu, 140 tonnes Zn (555 K Oz AgEq).
  • Sandstorm Gold Ltd. reported preliminary figures for the second quarter 2025. During the period the company sold 15,100 attributable Oz AuEq realizing US$51.4 M, with an operating margin of US$2,980 per Oz AuEq. By the end of the period the outstanding balance of the company’s revolving credit facility was US$315 M, with an undrawn balance of US$310 M (Royalty in Cosalá, Sinaloa).
  • Torex Gold Resources Inc. reported Q2 2025 production of 82,856 Oz AuEq. During the period the company mined at a rate of 2,133 tpd at the ELG open pit, moving waste at 9,313 tpd, mined at a rate of 2,790 tpd and 4,278 tpd from ELG underground and Media Luna Underground respectively, to mine at a total rate of 8,887 tpd in the Morelos Complex in Guerrero. The ore processed graded 2.92 gpt Au, 20.5 gpt Ag, 0.54% Cu, recovering 93.5% Au, 63% Ag, 84.4% Cu, to produce 69,576 Oz Au, 336.5 K Oz Ag, 8 M Lb Cu.
  • Orla Mining Ltd. provided an operational update for the second quarter of 2025, including figures from its operations in Mexico. At Camino Rojo in Zacatecas, 2.0 M tonnes were mined and 2.6 M of waste moved, for a strip ratio of 1.33. A total of 2.6 M tonnes of ore grading 0.57 gpt Au were stacked on the heaps and 25,45 Oz Au produced.  

ON FINANCING

  • Silver Storm Mining Ltd. closed the second and final tranche of its previously announced non-brokered private placement for total gross proceeds of C$130 K, for aggregate gross proceeds of C$4 M (La Parrilla, Durango).
  • Aura Minerals Inc. announces the launch of its United States public offering of common shares, seeking to raise around US$210 M (Aranzazu, Zacatecas).
  • Mithril Silver and Gold Ltd. announced on 9 July 2025 its securities trading on the ASX will be halted on the request of Mithril pending the release of announcements by MTH, until the commencement of trading on July 11, 2025 (Copalquin, Durango).
  • Sonoran Desert Copper Corp. received approval from the TSX Venture Exchange to close its private placement financing for gross proceeds of C$1 M (Cuatro Hermanos, Sonora).
  • Endeavour SilverCorp. Entered into a sales agreement with BMO Capital Markets Corp., TD Securities LLC, Ventum Financial Corp., National Bank of Canada Financial Inc., Raymond James Ltd., H.C. Wainwright & Co. LLC and ING Financial Markets LLC pursuant to which the company at its discretion may sell common share for up to US$60 M in gross proceeds (Terronera, Jalisco).
  • Royalties Inc. announced the launch of trading on the OTCID Market in the US (claims a royalty on Cozamin, Zacatecas).
  • Orogen Royalties Inc. is re-listing on the TSX Venture Exchange. The re-listing is a result of the plan of arrangement that was completed by the Company and Triple Flag Precious Metals Corp. on July 9, 2025. Concurrently with the Arrangement, Triple Flag also completed a C$10.0 M strategic private placement by subscribing Orogen shares (royalty on Ermitaño, Sonora).
  • Silver Viper Minerals Corp. closed its non-brokered private placement for aggregate gross proceeds of C$3.48 M (La Virginia, Sonora).
  • Mithril Silver and Gold Ltd. raised up to C$11.5 M in its previously announced private placement (Copalquin, Durango).

ON RESOURCES AND DEVELOPMENT

  • Mithril Silver and Gold Ltd. updated on exploration progress at Copalquin, in Durango. Drilling is to commence at Target 5 this month, after strong geochemical results from channel sampling, while drilling at Target 3 will follow later this quarter. Continuous mineralization has been mapped across 8 km, with 1,200 m of vertical extent. Highlighted channel samples at Targets 2, 3, 4 and 5 comprise 0.50 m @ 6.21 gpt Au, 265 gpt Ag; 1.00 m @ 19.85 gpt Au, 270 gpt Ag, 0.90 m @ 12.40 gpt Au, 820 gpt Ag; 0.50 m @ 13.25 gpt Au, 558 gpt Ag; 0.70 m @ 5.92 gpt Au, 392 gpt Ag; 0.65 m @ 5.67 gpt Au, 365 gpt Ag; 0.50 m @ 5.80 gpt Au; 0.90 m @ 8.03 gpt Au, 108 gpt Ag. Highlighted soil samples from the San Manuel mine area comprise 4.10 gpt Au, 83 gpt Ag; 2.73 gpt Au, 102 gpt Ag; 5.66 gpt Au, 154 gpt Ag; 5.77 gpt Au, 139 gpt Ag; 4.13 gpt Au, 120 gpt Ag; 5.03 gpt Au, 237 gpt Ag; 2.53 gpt Au, 20 gpt Ag.
  • Impact Silver Corp. released drilling results from underground drilling on the Juarez zone at its Plomosas mine in Chihuahua. Highlighted true width intercepts comprise 0.61 m @ 25 gpt Ag, 1.4% Pb, 6.3% Zn; 2.23 m @ 15 gpt Ag, 4.2% Pb, 9.9% Zn; (including 1.01 m @ 24 gpt Ag, 7.9% Pb, 17.2% Zn); 2.02 m @ 8 gpt Ag, 0.6% Pb, 13.0% Zn (including 0.81 m @ 14 gpt Ag, 0.3% Pb, 30.1% Zn); 3.94 m @ 8 gpt Ag, 0.3% Pb, 10.4% Zn (including 1.70 m @ 11 gpt Ag, 0.2% Pb, 21% Zn); 2.79 m @ 18 gpt Ag, 1.9% Pb, 4.8% Zn; 5.78 m @ 18 gpt Ag, 1.9% Pb, 4.8% Zn; 6.14 m @ 13 gpt Ag, 0.5 % Pb, 6.0% Zn (including 1.07 m @ 18 gpt Ag, 0.1% Pb, 24.9% Zn); 7.59 m @ 15 gpt Ag, 2.0% Pb, 4.2% Zn; 2.57 m @ 10 gpt Ag, 0.3% Pb, 10.7% Zn.
  • Luca Mining Corp. announced results from the first surface drill hole at the Reforma deposit and the next four underground drill holes as part of the phase one 2,500 m surface and 5,000 m underground drilling. Highlighted core length intervals comprise 21.52 m @ 4.24 gpt Au, 159 gpt Ag, 0.38% Cu, 2.1% Pb, 6.2% Zn (including 15.05 m @ 5.35 gpt Au, 188 gpt Ag, 0.31% Cu, 2.8% Pb, 8.4% Zn) on the Reforma deposit from the surface and 1.6 m @ 0.89 gpt Au, 60 gpt Ag, 0.48% Cu, 0.4% Pb, 1.9% Zn; 11.0 m @ 0.32 gpt Au, 99 gpt Ag, 4.20% Cu, 0.2% Pb, 1.6% Zn; 2.2 m @ 0.20 gpt Au, 30 gpt Ag, 0.47% Cu, 2.8% Zn; 6.1 m @ 0.17 gpt Au, 26 gpt Ag, 0.19% Cu, 0.1% Pb, 1.9% Zn; 2.3 m @ 0.49 gpt Au, 53 gpt Ag, 0.65% Cu, 0.6% Pb, 0.2% Zn; 6.4 m @ 0.72 gpt Au, 49 gpt Ag, 0.54% Cu, 0.2% Pb, 1.1% Zn; 2.20 m @ 1.09 gpt Au, 76 gpt Ag, 0.93% Cu, 0.3% Pb, 1.5% Zn; 21.5 m @ 4.24 gpt Au, 159 gpt Ag, 0.38% Cu, 2.0% Pb, 6.2% Zn (including 3 m @ 9.68 gpt Au, 277 gpt Ag, 0.36% Cu, 2.8% Pb, 8.6% Zn).
  • GR Silver Mining Ltd. reported results from underground sampling at the Plomosas mine in Sinaloa. Highlighted channel mine face samples comprise 0.8 m @ 5.74 gpt Au, 137 gpt Ag, 0.5% Cu, 16.7% Pb, 18.2% Zn; 1.0 m @ 2.32 gpt Au, 909 gpt Ag, 0.3% Cu, 6.7% Pb, 8.8% Zn; 1.2 m @ 0.54 gpt Au, 96 gpt Ag, 0.6% Cu, 29.8% Pb, 16.8% Zn; 0.8 m @ 0.18 gpt Au, 28 gpt Ag, 29.5% Pb, 5.0% Zn; 0.6 m @ 15.20 gpt Au, 310 gpt Ag, 7.2% Cu, 15.2% Pb, 26.2% Zn; 1.0 m @ 0.55 gpt Au, 68 gpt Ag, 0.1% Cu, 2.5% Pb, 5.1% Zn; 1.0 m @ 0.07 gpt Au, 864 gpt Ag, 0.1% Pb, 0.2% Zn. The results will be used to assess the implementation of a bulk sample test mining.
  • Sonoro Gold Corp. provided an update on the status of the environmental impact statement (Manifiesto de Impacto Ambiental, or MIA) for its Cerro Caliche project in Sonora. “The revised MIA was initially submitted in February 2025 and supersedes the prior MIA submitted in May 2022. Revisions to the MIA, including enhancing the mine plan and undertaking additional environmental baseline studies and socio-economic assessments … The MIA details an open-pit, heap leach mining operation including waste dumps, crushing facilities, heap leach pad, leach solution ponds, gold recovery facilities, haul roads, building structures and infrastructure”.

ON DEALS AND CORPORATE ISSUES

  • Mag Silver Corp. reminded shareholders about the proxy voting deadline for the company’s upcoming special meeting that was held in person in Vancouver, Canada on July 10, 2025, to consider the previously announced plan of arrangement with Pan American Silver Corp. regarding Magg Silver’s acquisition by Pan American (Juanicipio, Zacatecas).
  • Riverside Resources Inc. has received notice from Fortuna Mining that it has completed Phase 2 exploration work on the Cecilia project in Sonora and will not be proceeding with the option agreement. As a result, Fortuna has not earned any interest in the project.
  • Santacruz Silver Mining Ltd. has made the third payment of US$7.5 M to Glencore to satisfy the base purchase Price related to the Bolivian assets acquisition. It is part of a structured payment plan totaling US$40 M to be completed by October 31, 2025 (Zimapán, Hidalgo).
  • Altius Minerals Corp. updated its project generation business activities and its public junior equities portfolio. Overall performance of the portfolio during the quarter was largely driven by its holding of approximately 19.6% interest in Orogen Royalties Inc., which holds a royalty on the Ermitaño deposit, in Sonora. AbraSilver Resource Corp. announced a potential new porphyry copper discovery at the La Coipita project in Argentina.
  • Almaden Minerals Ltd. made public the memorial on the arbitration procedure alongside Almadex Minerals Ltd. with Mexico filed in March of this year under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The memorial details how Mexico unlawfully expropriated the Claimants’ investments, failed to provide fair treatment, and discriminated against them. The background to the claim involves a lawsuit filed in 2015 by an ejido community against the Mexican government, arguing that the mineral title system was unconstitutional because it lacked required Indigenous consultation. In February 2023, the authorities sought to retroactively deny the original mineral title applications due to alleged minor faults, which Almaden contends breaches both Mexican and international law.  Damages sought by the Claimants total approximately US$1.06 B (Ixtaca, Puebla).
  • Sandstorm Gold Ltd. and Royal Gold Inc. informed that Royal Gold will acquire all of the issued and outstanding common shares of Sandstorm in an all-share transaction with a value of approximately US$3.5 B. Sandstorm shareholders will receive a 21% premium to the 20-day volume weighed average price (VWAP). Concurrent with the Sandstorm Transaction, Royal Gold has entered into a definitive arrangement agreement with Horizon Copper Corp., pursuant to which Royal Gold will acquire all of the issued and outstanding common shares of Horizon Copper in an all-cash transaction valued at approximately US$196 M providing an 85% premium to the 20-day VWAP (Royalty on Cosalá, Sinaloa).
  • Starcore International Mines Ltd. intends to spin out its exploration interests in Cote d’Ivoire, West Africa, through its wholly-owned subsidiary EU Gold Mining Inc. that will seek a separate listing in Canada (Juarez, Queretaro).
  • Kingsmen Resources Ltd. entered into a non-binding letter of intent (LOI) for an option to acquire the recently consolidated 866 ha Almoloya project on the Parral district in Chihuahua. The project includes the past producing Cigarrero and Las Juliettas mines. Historic production was 1.25 M tonnes @ 600 gpt Ag, 40% Pb, 25% Zn with variable Cu-Au. The company has a 60-day due diligence period under the LOI, and the option may be exercised by paying a total of US$8.6 M over eight years on staged payments, of which US$6.5 M should be paid between years five and eight of the option. The optionors will keep a 2.5% NSR, of which 1% can be bought for US$3 M (Cuatro Hermanos, Sonora).
  • Orogen Royalties Inc. and Triple Flag Precious Metals Corp. have completed the previously announced plan of arrangement in which Triple Flag has acquired all of the issued and outstanding common shares of Orogen for a total consideration of approximately C$421 M. The total consideration consists of $171.5 M in cash, $171.5 M in Triple Flag shares, and shares of 1537944 BC Ltd. (“Orogen SpinCo”) with an implied value of $78 M (Royalty on Ermitaño deposit, Sonora).
  • Silver Storm Mining Ltd. announced that “at a special meeting of the shareholders of Till Capital Corporation … the Till shareholders approved the previously announced transaction of Till with the Company, whereby Silver Storm will indirectly acquire … 100% of the issued and outstanding common shares of Till” (La Parrilla, Durango).
  • Starcore International Mines Ltd. entered into a non-binding letter of intent (LOI) with Manuel Felipe Arreguin Martinez to lease six mineral claims and two properties comprising the San Juan Nepomuceno Project, also known as the Tortilla Project, in Queretaro. The project is 40 km NE from the San Martin mine and 5 km W from La Negra mine. For a five-year lease the company is paying the owner US268 K, of which US$107 K are to be paid on signing of the definitive agreement and US$27 K monthly for the next six months, after which the owner is entitled to a 2% NSR from production derived from the Tortillas project. “During the term of the ten-year lease, the Owner has the option to sell all of the claims and concessions to Starcore at a purchase price of US$7,000.000” (San Martin, Queretaro).
  • Almaden Minerals Ltd. closed the sale of certain assets comprising the Rock Creek Mill to Metals Exploration PLC., receiving gross proceeds of US$9.7 M. “15% of the Purchase Price was payable as a commission by Almaden to an equipment sales broker.”. Almaden will now proceed with the early repayment of the outstanding gold loan pursuant to the secured gold loan agreement between Almaden and Almadex Minerals Ltd. “The Gold Loan will be settled by the return of the undrawn balance of 397 ounces” (Ixtaca, Puebla).

ON SOCIAL RESPONSIBILITY

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On the image below: Previous igneous phase fragment on monzonite porphyry. Picture by Jorge Cirett.