Mexico’s Best Drilling Intercepts, Fourth Week of May 2026
Two companies announced results from drilling campaigns in Mexico during the week.
Axo Metals released results from approximately 3,000 m of drilling in 21 holes, with drilling concentrated in and around the Sapuchi deposit at its San Antonio project in Sonora. The company plans to complete 25,000 m of drilling at the Sapuchi deposit to upgrade resource confidence, infill gaps within the block model designated as waste, and test the periphery of the deposit. The company has engaged a contractor to complete a resource estimate for a PEA expected to be finished by late Q3 2026. The San Antonio project is pat of a large iron oxide-copper-gold mineralization (IOCG) system that includes the dislocated copper-rich San Javier project owned by Barksdale Resources a few kilometers to the west.
Minaurum Silver reported drill results from the Europa Sur, Travesía, and San Jose Vein Zones at its Alamos Silver property in Sonora. The company is performing a resource expansion 50,000 m drilling campaign on this intermediate sulfidation epithermal system.
During the 21st week of the year (May 18 to May 24, 2026), at least 31 press releases were issued by companies operating in Mexico, and 1 news published by the media. Of these, twelve related to deals and corporate matters, five addressed Mexican-related issues, four covered resource and development updates, three reported production results, three presented exploration results, three announced financing activities, and two discussing social issues. ON MEXICO ISSUES, Almaden provided an update to the international arbitration proceedings under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership with the United Mexican States. The Federal Mexican Government, through the Secretariat of Economy eliminates one procedure and simplifies 42 for mining investment. Sierra Madre received approval from the the Comisión Federal de Competencia Económica (COFECE) for the acquisition of the Del Toro Silver mine in Zacatecas. Mexican courts ruled that Capstone Copper owes unpaid royalties to Minera Portree de Zacatecas, S.A. de C.V (Royalties Inc) since 2019 on the Cozamin Mine, Zacatecas. Oroco and GR Silver reported the best drilling intercepts in Mexico on the third week of May, 2026. ON EXPLORATION, In Sonora, Masivo Silver informed that it completed its Phase 1 drill program at Cerro Colorado project, which consisted of seven holes totaling 1,601m, and JV Questcorp-Riverside reported that they have completed an expanded aeromagnetic drone survey at the La Union project. ON MINING, IMPACT Silver and Sierra Madre reported Q1, 2026 operational and financial results. Starcore reported production and financial results for the four fiscal quarter ended April 2026. ON FINANCING, Vortex notified further extension of its previously announced non-brokered private placement. Sonoro Gold announced a non-brokered private placement for gross proceeds of CAD $10M. Kootenay informed that it intends to complete a non-brokered private placement for gross proceeds of up to CAD $500K. ON RESOURCES AND DEVELOPMENT, GR Silver released the best ever drill results at its San Marcial project in Sinaloa in hole SMS26-04, which intersected 45.1 m of 1,623 g/t Ag, Including 8.25 m of 8,579 g/t Ag,. Oroco reported drill results from its Santo Tomas project in Sinaloa. Silverco filed a NI 43-101 Technical Report for its Cusi mine, Chihuahua. Silver Storm released drill results from the C550 and C535 Zones within its Parrilla mine complex in Durango, and expands its 2026 drilling campaign by 9,000m. ON DEALS AND CORPORATE ISSUES, Alamos Gold announced multiple management appointments, further strengthening its senior leadership team. Torex Gold announced the appointment of Dan Rollins as Chief Financial Officer. Minera Alamos has provided its notice of intent to exercise its option to repurchase a portion of the net smelter return royalty equal to 0.75% on the Cerro de Oro project located in northern Zacatecas. Vizsla appointed Dave D ´Antonio as Senior Vice President of Technical Services. Silver Spruce granted stock options to certain directors, officers, employees and consultants. Silverco completed its previously announced acquisition of Nuevo Silver Inc. Silver Tiger announced that the Toronto Stock Exchange has approved the listing of the Company’s common shares for trading on the TSX. Vizsla Silver appointed Guillermo Hernandez as Vice President Exploration and promotes Jesus Velador as Chief Geologist. GR Silver announced a celebration of Life for founder Márcio Fonseca. Silver Wolf announced adoption to semi-annual financial reporting. Americas Gold and Silver reached an agreement with Sprott Mining to terminate the remaining obligation under the existing Silver Delivering Agreement in exchange for shares of the company. GR Silver provided a corporate update following the exceptional drill results at San marcial within its Plomosas project, Sinaloa. ON SOCIAL RESPONSIBILITY, Aura Minerals announced its 2025 Sustainability Report promoting safety, responsibility, sustainability, and innovation, prepared in with reference to Global Reporting Initiative standards. Heliostar published its inaugural Sustainability Report covering the 2025 fiscal year.
ON MEXICO ISSUES
Almaden Provides Update on Arbitration Process with Mexico Increased Damages Award Presented: Almaden Minerals Ltd
Federal Government Eliminates One Procedure and Simplifies 42 for Mining Investments: Chihuahua al Día – Noticias
Mexican Courts Rule That Capstone Copper Owes Unpaid Royalties Since 2019 on the Cozamin Mine-Pending Amparo: Royalties Inc
Oroco Resource Corp., and GR Silver Mining Ltd reported the best drilling intercepts in Mexico on the third week of May, 2026. Details are shown in the table below:
IMPACT Silver Announces Q1 2026 Financial Results with Revenue Nearly Tripling to $31.2Million and Record Net Income of $11.3 Million: IMPACT Silver Corp
Vortex Metals Announces Further Extension of Non-Brokered Private Placement: Vortex Metals Inc
Sonoro Gold Announces $10 Million Private Placement: Sonoro Gold Corp
Kootenay Resources Announces Non-Brokered Private Placement of up to $500,000: Kootenay Resources Inc
ON RESOURCES AND DEVELOPMENT
GR Silver Reports Its Best Ever Drill Results at San Marcial: 45.1 m at 1,623 g/t Ag, Including 8.25 m at 8,579 g/t Ag, in Hole SMS26-04: GR Silver Mining Ltd
Oroco Intersects 228 m of 0.49% CuEq and 212 m of 0.44% CuEq at Santo Tomás: Oroco Resource Corp
Silverco Mining Files NI 43-101 Technical Report for the Cusi Project PEA: Silverco Mining Ltd
Silver Storm Demonstrates Resource Growth Potential at the C550 Zone, Expands the 2026 drilling campaign by 9,000m: Silver Storm Mining Ltd
During the 20th week of the year (May 11th to May 17th, 2026), companies working in Mexico released 39 press releases. Two companies informed on early-stage property work and ten companies presented quarterly reports. Two companies adopted semi-annual reporting, one company declared a dividend, one more repaid a loan, and one other closed a private placement while one more granted stock options. Three companies released drill results on their advanced projects, and one more updated the technical report on a property. Five companies announced appointments and officers changes, one company is acquiring more ground, two mid-tier companies announced their merger, one company reported its AGM results, and the acquisition of a royalty company was announced. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, in Sonora, Tocvan Ventures reported continued drilling and exploration at Gran Pilar. In Chihuahua, Kingsmen Resources completed topographic surveys at Las Coloradas and Almoloya. ON MINING,Orla Mining, First Majestic, Altius Minerals, Heliostar Metals, Osisko Development, Elemental Royalty, Discovery Silver, Americas Gold and Silver, Avino Silver & Gold Mines, Santacruz Silver and Golden Minerals reported quarterly results. ON FINANCINGSilver Viper and Regency Silver adopted semi-annual reporting. Coeur Mining reported a dividend. Heliostar Metals granted stock options. Guanajuato Silver repaid a gold loan. J2 Metals closed the second tranche of a private placement for C$356 K in gross proceeds. ON RESOURCES AND DEVELOPMENT, Goldgroup updated the technical report on the San Francisco mine in Sonora. Capitan Silver released results from drilling at Cruz de Plata in Durango. Defiance Silver announced drilling results from its Zacatecas project in Zacatecas. Mithril Silver and Gold provided assay results from drilling at the Target 1 of its Copalquin project in Durango. ON DEALS AND CORPORATE ISSUES, Oroco Resource, Minera Alamos, Vizsla Silver, Regency Silver and Goldgroup announced appointments to the board. Sonoro Gold signed a LOI on the acquisition of adjacent ground at Cerro Caliche, in Sonora. Equinox Gold and Orla Mining announced their merger. Altius Minerals presented results of its AGM. Elemental Royalty is to acquire Vizsla Royalties. Minera Alamos is to change name to Mining Americas. ON SOCIAL RESPONSIBILITY, No relevant news.
ON MEXICO ISSUES
No relevant news
ON EXPLORATION
Tocvan Accelerates Gran Pilar: 5,000+ Meters Drilled to Date, Historic Workings Discovered on South Block, Pilot Progresses: Tocvan Ventures (Gran Pilar, Sonora)
Kingsmen Completes 60 km² Precision Satellite Topographic Surveys at Las Coloradas and Almoloya, Advancing Drill Targeting Across the High-Grade Parral Silver-Gold District, Chihuahua, Mexico: Kingsmen Resources (Las Coloradas, Chihuahua)
Tocvan Announces New surface Gold-Silver Results, Outlining New Target 3 Kilometers East of Main Zone at Gran Pilar Gold-Silver Project: Tocvan Ventures (Gran Pilar, Sonora)
First Majestic Announces Q1 2026 Financial Results and Increased Quarterly Dividend Payment; Provides Management Updates: First Majestic Silver (San Dimas, Sinaloa)
Altius Reports Q1 2026 Attributable Royalty Revenue of $26.8M and Adjusted Earnings(1) of $5.4M: Altius Minerals (royalty on Cuale, Jalisco)
Heliostar Presents Record Q1 2026 Financial and Operating Results: Heliostar Metals (Ana Paula, Guerrero)
Osisko Development Reports First Quarter 2026 Results: Osisko Development (sold San Antonio, Sonora)
Elemental Royalty Announces Record Quarterly Revenue and Adjusted EBITDA Elemental Royalty (royalty on Mercedes, Sonora)
Discovery Silver Reports Solid Earnings and Cash Flow in Q1 2026: Discovery Silver (Cordero, Chihuahua)
Americas Gold and Silver Reports Record Production and Sales in Q1 2026 as Execution on the Growth Plan Continues at Galena: Americas Gold and Silver (Cosalá, Sinaloa)
Goldgroup Files Updated Technical Report on San Francisco Gold Project: Gold Group Mining (San Francisco, Sonora)
Capitan Silver Intersects 935 g/t Silver Equivalent over 1.3 Metres, Within a Wider Zone of 157 g/t Silver Equivalent over 20.0 Metres at the Cruz De Plata Project: Capitan Mining (Cruz de Plata, Durango)
Defiance Silver Drilling Returns up to 356 g/t Ag and 2.15 g/t Au in Additional Silver and Gold Structures: Defiance Silver (Zacatecas Project, Zacatecas)
Mithril Drills 7.00 g/t Gold, 370 g/t Silver Over 9.65 m Including 30.7 g/t Gold, 1,780 g/t Silver Over 0.5 m at Target 1, Copalquin: Mithril Silver and Gold (Copalquín, Durango)
Minera Alamos Strengthens Board and Management Team and Proposes Name Change to Mining Americas Inc.: Minera Alamos (Santana, Sonora)
Sonoro Gold Announces Letters of Intent to Acquire Adjacent Mineral Concessions to Further Expand the Cerro Caliche Gold Project: Sonoro Gold (Cerro Caliche, Sonora)
Equinox Gold and Orla Mining Combine to Create North America’s New Senior Gold Producer: Built to Grow, Built to Last: Orla Mining (Camino Rojo)
Equinox Gold and Orla Mining Combine to Create North America’s New Senior Gold Producer: Built to Grow, Built to Last: Equinox Gold (Los Filos, Guerrero)
Altius Reports Voting Results From its May 13, 2026 Annual and Special Meeting: Altius Minerals (royalty on Cuale, Jalisco)
Elemental Royalty to Acquire Vizsla Royalties, Securing Long-Life Royalty Exposure to the Panuco Silver-Gold Project: Elemental Royalty (royalty on Mercedes, Sonora)
Vizsla Silver appoints Former Senior Mexican Government Mining Official as Vice President, Government Relations: Vizsla Silver (Panuco, Sinaloa)
Regency Silver Corp. (TSXV: RSMX) Appoints Private Equity Fund Manager Alejandro Sucre to Board of Directors: Regency Silver (Dios Padre, Sonora)
Goldgroup Announces Nominees to Board in Connection with Proposed Business Combination with Gold Resource Corporation and Amends Arrangement Agreement: Goldgroup Mining (Cerro Prieto, Sonora)
ON SOCIAL RESPONSIBILITY
No Relevant News
On the image below: Epithermal quartz veining and pyrite in volcanosedimentary rocks, HQ core. Picture by Jorge Cirett.
