Metallurgy

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

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Mushketovite

By Miguel A Heredia

During the 37th week of the year (September 8th to September 14th 2025), at least 39 press releases were announced by companies working in Mexico, with nineteen disclosing deals and corporate issues, eight reporting resources and developments of their properties, seven informing on exploration results, four announcing financial rounds, and one commenting on Mexican issues. ON MEXICO ISSUES, Pan American, Coeur, Luca Mining, GoGold, and Axo Copper reported the best drilling intercepts in Mexico on the second week of September, 2025. ON EXPLORATION, In Sonora, Questcorp provided an update of the ongoing drilling program at its la Union project. Fortuna Mining provided an update on its generative exploration program across its portfolio of properties in Mexico. In Sinaloa, Chesapeake provided an update on its regional exploration activities at its Lucy project. In Durango, Pacifica Silver revealed details of its upcoming exploration program at its Claudia project, and Pinnacle released underground channel sampling results from its Potrero project. In Zacatecas, Defiance Silver reported that a new drilling program commenced at its Zacatecas project. In Jalisco, Axo released results from its recently initiated drill program at its la Huerta project and announced that it has begun its regional drill program at the La Huerta South target. ON MINING, No relevant news.  ON FINANCING, Vizsla Royalties spotlighted that Vizsla Silver entered in a USD $220M project finance mandate to fund the development of its Panuco project in Sinaloa. Sonoro Gold closed its previously announced oversubscribed, non-brokered private placement for gross proceeds of CAD $2M (Cerro Caliche project, Sonora). Goldgroup closed its previously announced non-brokered private placement for gross proceeds of CAD $$M (Cerro Prieto mine, Sonora). Vortex announced a non-brokered private placement for gross proceeds of up to CAD $600K (Riqueza Marina and Zaachila projects, Oaxaca). ON RESOURCES AND DEVELOPMENT, Kootenay completed 2,500m in five holes drilled at its Columba project in Chihuahua. Luca Mining released results of six holes totalling 1,656m from its ongoing underground and surface drilling programs of its Tahuehueto mine in Durango.  Sierra Madre Gold and Silver announced its two-staged plan to expand their Guitarra mine´s processing capacity. Chesapeake reported progressing metallurgical test on its Metates project in Durango, with promising results toward a 2026 prefeasibility study. GoGold announced strong drilling results at its Los Ricos South project in Jalisco. Pan American Silver released drill results from the program designed to test the eastern zone of the La Colorada mine in Zacatecas. Coeur Mining released high-grade drilling results from its 2025 drill plan at its Las Chispas mine in Sonora. Pan American Silver presented consolidated mineral reserves and mineral resources as at June 30, 2025 of all of their mining operations (La Colorada mine, Zacatecas). ON DEALS AND CORPORATE ISSUES, Mithril announced that it intends to have its annual general meeting on Wednesday November 5, 2025 (Copalquin project, Durango). Aura Minerals applied for a voluntary delisting of its common shares from the Toronto Stock Exchange (Aranzazu mine, Zacatecas). Orogen announced that its shares will be trading on the OCTQB effective immediately under the symbol OGNNF (Ermitaño mine, Sonora). Sailfish declared Q3, 2025 dividend (Gavilanes project, Durango). Torex Gold reported that it was recognized as a top performer by the Toronto Stock Exchange (TSX) for 2025 (Morelos Complex, Guerrero). Alamos Gold declared that for second year consecutive it has been recognized as a TSX30 2025 winner by the TSX (Mulatos mine, Sonora). Agnico Eagle announced disposition of its interest in Orla Mining (Pinos Altos mine, Chihuahua). Prime filed and mailed its notice of meeting and management information circular to approve plan of arrangement with Torex Gold (Los Reyes project, Sinaloa). Impact announced shareholder approval of omnibus equity incentive plan (Plomosas mine, Chihuahua).  GR Silver received five-year drill permit for the San Marcial area at its Panuco project in Sinaloa. Apollo Silver announced that the company will proceeds with a consolidation of its issued and outstanding common shares (Cinco de Mayo project, Chihuahua). Heliostar reported that it has been approved for graduation from Tier 2 to Tier 1issuer status on the TSX (Ana Paula project, Guerrero). Kingsmen announced voting results of its annual general and special meeting of shareholders (Las Coloradas project, Chihuahua). Vizsla Royalties appointed a new Independent Director (Panuco project, Sinaloa). Teck and Anglo American reached an agreement to combine in a merger for equals to form the Anglo Teck Group. Quetzal Copper refilled its Q2, 2025 financial statements and Management Discussion & Analysis (Cusi property, Chihuahua). Canasil confirmed that the British Columbia Securities Commission approved the full revocation of the cease trade order (Sandra project, Durango). Candelaria provided an update to its management cease trade order announced on August 29, 2025 (Caballo Blanco project, Veracruz). Fuerte metals issued a statement to a request from the Canadian Investment Regulatory Organization regarding a recent increase in the market price of its shares (Cristina project, Chihuahua). ON SOCIAL RESPONSIBILITY, No relevant news.

ON MEXICO ISSUES

  • Pan American Silver Corp, Coeur Mining Inc, Luca Mining Corp, GoGold Resources Inc, and Axo Copper Corp., reported the best drilling intercepts in Mexico on the second week of September, 2025. Details are shown in the table below:

ON EXPLORATION

  • Questcorp Mining Inc., provided an update on the Phase 1 ongoing drilling program at its la Union project in Sonora. The company has completed drill holes at two of four target areas with promising intersections in oxides zones associated with past mineralization. The drilling has revealed more quartzite than expected which could indicate good conditions for gold due to fractures and oxidation. Questcorp is now focusing its drilling exploration efforts at the Famosa target.
  • Fortuna Mining Corp., provided an update on its generative exploration program across its portfolio of properties in Mexico. At the Centauro project in Chihuahua, the company conducted geological mapping, geochemical sampling, and the identification of a large 2km by 3km silica-capped with features typical of a preserved hydrothermal system, such as sinter horizons, silica banding, mud cracks and geyserites. Several north-west trending silicified structures have been outlined, and along with the low temperature sulfides such as realgar, orpiment, cinnabar, and stibnite, confirm the presence of structures consistent with a fertile epithermal system. The plan moving forward is to commence a first pass drill campaign next month to test the potential for a low to intermediate epithermal sulfidation gold and silver system at depth, aiming to explore and delineate mineralization within the identified structures. Fortuna has the option to earn 100% interest in three mining concessions covering 600 hectares. At El Carmen project in Queretaro, activities realized to date include initial mapping on a large 5km by 5km kaolin-altered area locally exposed beneath a post-mineral basalt cover, which has identified three main target areas characterized by well-developed displacement faults, sub horizontal zones of silicification, and the presence of cinnabar, all indicative of the potential for a fully preserved epithermal system at depth. Once the company secured surface access over the principal target areas, it will commence detailed geological mapping and systematic geochemical sampling, supported by hyperspectral analysis to better understand its mineralization potential to design a maiden drill program.
  • Chesapeake Gold Corp., provided an update on its regional exploration activities at its Lucy project in Sinaloa. Recent work has identified new mineralized zones, including a potential new corridor with gold mineralization. The project shows promise for extending over 3 kilometers, suggesting that the mineralization system at Lucy is bigger than it was originally thought. Ongoing trenching, sampling, and permitting activities are been carried out at the property with the goal of delineating its mineral potential.
  • Pacifica Silver Corp., revealed details of its upcoming exploration program at its Claudia project in Durango. The company plans to drill an initial 8,000m Phase 1 drill campaign, expected to begin at the end of September, and conduct a property-wide exploration program consisting of surface sampling, geological mapping, and a 27-line km induce polarization (IP) and resistivity geophysical survey.
  • Pinnacle Silver and Gold Corp., released underground channel sampling results from the Dos de Mayo mine within its Potrero project in Durango. “Fifty-three channel samples, in 13 composite channels, were taken within a raise (inclined tunnel approximately 1.5m in diameter) connecting two levels 25.5m apart.  Composite assays up to 11.2 g/t Au and 179 g/t Ag over 3.5m, 15.55 g/t Au and 222 g/t Ag over 1.1m and 11.93 g/t Au and 190 g/t Ag over 1.4m were obtained, with individual assays up to 27.6 g/t Au and 366 g/t Ag over 0.6m.  The weighted average of mineralized composites within the raise assayed 6.43 g/t Au and 110 g/t Ag”.  The company is planning an underground drilling program in all three main mines at Potrero project.
  • Defiance Silver Corp., reported that a new 10,000m oriented-core drilling program commenced at its Zacatecas project in Zacatecas state.
  • Axo Copper Corp., released results from its recently initiated phase II drill program at its la Huerta project in Jalisco. The most significant drill interception was encountered in hole LHCC-25-045 with 2.89% Cu and 15 g/t Ag (3.08% CuEq) over a length of 13.2m, including 4.86% Cu and 30 g/t Ag (5.24% CuEq) for a length of 6.4m. Mineralization encountered in this hole consists of chalcopyrite and bornite hosted in andesitic rocks. Higher Cu grades are related to bornite patches. To date, 3,288m have been drilled as part of a 15,000m phase II drilling program. Axo also announced that it has begun its regional drill program at the La Huerta South target.

ON MINING

  • No relevant news.

ON FINANCING

  • Vizsla Royalties Corp., spotlighted that Vizsla Silver Corp., entered in a USD $220M project finance mandate with Macquarie Bank Limited to fund the construction and development of its high grade underground Panuco project in Sinaloa.
  • Sonoro Gold Corp., closed its previously announced oversubscribed, non-brokered private placement of 13,350,000 units at a price of CAD $0.15 per unit for gross proceeds of CAD $2M. Net proceeds will be used to fund the ongoing development of its Cerro Caliche project in Sonora, and for general working capital purposes.
  • Goldgroup Mining Inc., closed its previously announced non-brokered private placement of 4,848,485 units at a price of CAD $0.825 per unit for gross proceeds of CAD $$M. The gross proceeds will be dedicated to the diligent assessment and strategic pursuit of acquisition opportunities (Cerro Prieto mine, Sonora).
  • Vortex Metals Inc., announced a non-brokered private placement of up to 15,000,000 units at a price of CAD $0.04 per unit for gross proceeds of up to CAD $600K. Net proceeds will be used as follow: approximately 40% to pay for mining concession fees, approximately 40% to pay for exploration fees and remaining 20% for general working capital purposes (Riqueza Marina and Zaachila projects, Oaxaca).

ON RESOURCES AND DEVELOPMENT

  • Kootenay Silver Inc., reported that it drilled five holes at its Columba project in Chihuahua. These holes totalling 2,500m were completed on the D and I Vein Targets, and are part of the first phase of a planned 50,000m drilling program designed to expand known limits of mineralized veins comprising the recently announced 43-101 compliant mineral resource estimate.
  • Luca Mining Corp., released results from its ongoing underground and surface drilling programs of its Tahuehueto mine in Durango. Six holes are already been completed for a total of 1,656m. Drilling highlights are shown in the table below:
  • Sierra Madre Gold and Silver Ltd., announced its two-staged plan to expand their Guitarra mine´s processing capacity from 500 tonnes to between 750 and 800 tonnes per day by mid-2026 through new facilities such as a paste fill plant and thickener plant, as well as additional crushers; and then between 1,200 and 1,500 per day by late 2027 with a new dry stack tailings storage facility, a second crushing circuits, and replacing a smaller capacity ball mill.   The company intends to fund these expansions using their existing cash flow and recent private placement, avoiding new capital raises.
  • Chesapeake Gold Corp., reported progressing metallurgical test on its Metates project in Durango, with promising results toward a 2026 prefeasibility study. Metallurgical testwork on Metates using its proprietary sulphide leach technology shows early encouraging results, indicating that the oxidation process is meeting expectations, attracting industry interest. Now, other companies have considered to test the Chesapeake´s leach process technology on a wide range of deposits, which could open up new chances for the company to start commercializing the process as an eventual significant source of value generation for Chesapeake.
  • GoGold Resources Inc., announced strong drilling results at its Los Ricos South project in Jalisco. Based on reconstruction of the historical data and a new IP geophysics survey conducted this year, a systematic step-out drilling program commenced in January 2025, to test the down dip, the southern strike extension of the Abra Zone towards Los lamas, and the Cerro Colorado deposit. The company found high-grade silver and gold mineralization beyond their current resource area, notably in the Eagle, Abra, and Cerro Colorado zones. Highlights include impressive silver equivalent grades over notable widths, signaling potential for resource expansion and deeper extensions of known veins. Drilling highlights are shown in the table below:

Pan American Silver Corp., released drill results from the program designed to test the eastern zone of the La Colorada mine in Zacatecas. These results are from the drilling campaign carried out from November 2024 to June 2025 with approximately 65,000m in 170 holes. Multiple high grades were encountered indicating the potential for expansion of silver mineral resources, extension of mine life and improved economics. These results are  Drilling highlights are shown in the table below:

Coeur Mining Inc., released drill results from its 2025 drill plan at its Las Chispas mine in Sonora. The 2025 drill plan was modified and refocused around the Las Chispas operation to test high-priority targets including strike and depth extensions and infill drilling at the Babicanora and Las Chispas Block. It also continues to follow up on recent discoveries in the Gap Zone located between the Babicanora and Las Chispas Blocks on multiple veins such as Augusta, La Sorpresa, Los Sheiks, North Las Chispas, and Las Chispas Extensions. The drilling results have been highly successful, revealing some of the highest grades encountered in the project to date. Notably, North Las Chispas Vein returned an intercept of 158 g/t Au and 13,430 g/t Ag over 0.30m, bonanza levels with exceptional high-grade mineralization. The Augusta vein has also demonstrated significant expansion, with intercepts of up to 27.7g/t Au and 3,903 g/t Ag over 0.40m, confirming continued growth along strike. Overall, the results highlight substantial high-grade potential and ongoing resource expansion in multiple veins within the Las Chispas district, which have been ramped up to nine drill rigs to target additional resource growth. The most significant results are shown in the table below:

Pan American Silver Corp., reported consolidated mineral reserves and mineral resources as at June 30, 2025. It presented separate figures for La Colorada mine in Zacatecas, and for its La Bolsa property in Sonora, which are shown in the table below:

ON DEALS AND CORPORATE ISSUES

  • Mithril Silver and Gold Limited announced that it intends to have its annual general meeting on Wednesday November 5, 2025 (Copalquin project, Durango).
  • Aura Minerals Inc., applied for a voluntary delisting of its common shares from the Toronto Stock Exchange (TSX). The application has been approved by the company´s Board of Director and the TSX. It is expected that the common shares will be delisted from the TSX effective as of the close of markets on September 25, 2025 (Aranzazu mine, Zacatecas).
  • Orogen Royalties Inc., announced that its shares will be trading on the OCTQB effective immediately under the symbol OGNNF (Ermitaño mine, Sonora).
  • Sailfish Royalty Corp., declared Q3, 2025 dividend in the amount of USD $0.0125 per common share that will be payable on October 15, 2025 to company´s shareholders of record as of the close of business on September 30, 2025 (Gavilanes project, Durango).
  • Torex Gold Resources Inc., reported that it was recognized as a top performer by the Toronto Stock Exchange (TSX) for 2025 having been named to the TSX30, which is based on share price performance, adjusted for dividends, over the three-year period ending June 30, 2025 (Morelos Complex, Guerrero).
  • Alamos Gold Inc., declared that for second year consecutive it has been recognized as a TSX30 2025 winner by the TSX. The annual ranking recognizes the 30 top performing stocks based on their dividend-adjusted share price performance over a three-year period (Mulatos mine, Sonora).
  • Agnico Eagle Mines Limited announced disposition of its interest in Orla Mining Ltd. The company sold 38,002,589 shares of Orla Mining for about CAD $560.5M at a sale price of CAD $14.75 per share, aimed to redeploy capital to strategic priorities (Pinos Altos mine, Chihuahua).
  • Prime Mining Corp., filed and mailed its notice of meeting and management information circular to approve plan of arrangement with Torex Gold. The special meeting of shareholders will be held on September 29, 2025 (Los Reyes project, Sinaloa).
  • IMPACT Silver Corp., announced shareholder approval of omnibus equity incentive plan to replace its 10% fixed stock option plan to originally adopted on December 21, 2025 (Plomosas mine, Chihuahua).
  • GR Silver Mining Ltd., received five-year drill permit for the San Marcial area at its Panuco project in Sinaloa. Now the company is allowed to carry out step-out and exploration drilling at 46 new drill sites at San Marcial. GR Silver plans to complete the final 3 drill holes of its summer drilling program, to conduct additional down-hole geophysical surveys in key drill holes within the resource area, and advance additional drilling under the new drill permit.
  • Apollo Silver Corp., announced that the company will proceeds with a consolidation of its issued and outstanding common shares on the basis of five pre-consolidated shares for every one post-consolidated share. The consolidation will take effect on September 15, 2025.  (Cinco de Mayo project, Chihuahua).
  • Heliostar Metals Ltd., reported that it has been approved for graduation from Tier 2 to Tier 1issuer status on the TSX (Ana Paula project, Guerrero).
  • Kingsmen Resources Ltd., announced voting results of its annual general and special meeting of shareholders. In this annual meeting, shareholders also approved a new 10% rolling omnibus equity incentive plan (Las Coloradas project, Chihuahua).
  • Vizsla Royalties Corp., appointed a new Independent Director effective immediately. The company also has granted an aggregate of 150,000 stock options and 250,000 cash-settled Deferred Share Units to certain directors and officers (Panuco project, Sinaloa).
  • Teck Resources Limited and Anglo American plc reached an agreement to combine in a merger for equals to form the Anglo Teck Group. The merger aims to create a leading diversified mining company focused on critical minerals, particularly copper. The merge anticipates pre-tax recurring annual synergies of USD $800M and an additional USD 1.4B B in underlying EBITDA revenue synergies. Boards of Teck and Anglo American unanimously support and recommend the merger.
  • Quetzal Copper Corp., refilled its Q2, 2025 financial statements and Management Discussion & Analysis. The amendment was made to correct and clarify disclosure relating to the company’s share-based compensation (Cusi property, Chihuahua).
  • Canasil Resources Inc., confirmed that the British Columbia Securities Commission approved the full revocation of the cease trade order (CTO), as a result of the company’s failure to file its interim financial statements for the period ended September 30, 2023. The full revocation of the CTO is a very positive development leading to a return to normal trading of the company´s securities (Sandra project, Durango).
  • Candelaria Mining Corp., provided an update to its management cease trade order announced on August 29, 2025 “in respect of the audited annual financial statements and corresponding management’s discussion and analysis for the year ended April 30, 2025, including the CEO and CFO certifications that were not filed by the required filing deadline of August 28, 2025”. The company is working expeditiously on the steps required to complete the Annual Financial Filings and expects to be able to file the Annual Financial Filings by September 28, 2025 (Caballo Blanco project, Veracruz).
  • Fuerte Metals Corporation issued a statement to a request from the Canadian Investment Regulatory Organization regarding a recent increase in the market price of its shares. Fuerte Metals is currently engaged in discussions about a potential transaction, though no agreement has been reached yet. The company clarified that the rise in trading activity is noted, but there are no specific details provided about the causes of the increase or any material developments at this time.

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, mushketovite in an IOCG project in Sonora, Mexico. Photo taken by Miguel A Heredia.

The Mining and Exploration News in Mexico: Highlights on the First Week of June, 2025

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Low-angle quartz veins hosted in Mn-rich volcanic rocks

By Miguel A Heredia

During the 23th week of the year (June 02nd to June 08th 2025), at least 26 press releases were announced by companies working in Mexico, with twelve disclosing deals and corporate issues, seven announcing financing rounds, two reporting resources and development of their properties, two informing on exploration results, one communicating production results, one discussing social issues, and one commenting on Mexican issues.  ON MEXICO ISSUES, Endeavour reported the best drilling intercepts in Mexico on the first week of June, 2025. ON EXPLORATION, In Durango, Pinnacle presented underground sampling results from its Potrero project, and Mithril released high-grade surface and underground sampling results from its Copalquin project.  ON MINING, Orogen reported Q1, 2025 production and financial results (Ermitaño mine, Sonora). ON FINANCING, Defiance Silver announced brokered  Listed Issuer Financing Exemption (LIFE) offering for gross proceeds of up to CAD $8M, the same that later on was upsized to CAD $13M (San Acacio project, Zacatecas).  Vizsla Royalties entered into a bought deal agreement with CIBS Capital Market to sell 27,400,000 common shares for gross proceeds of CAD $54.8M (Panuco project, Sinaloa). Silver Viper announced a non-brokered private placement for gross proceeds of up to USD $3.5M (La Virginia project, Sonora). Mammoth announced a non-brokered private placement of up to 30,000,000 units for gross proceeds of up to CAD $750K (Tenoriba project, Chihuahua). Impact Silver closed a final tranche of its previously announced non-brokered private placement for gross proceeds of CAD $1,275,320 (Plomosas mine, Chihuahua). Silver Storm announced that it closed the first tranche of its previously announced brokered LIFE financing for gross proceeds of CAD $10,541,050, including a CAD $1M investment by Eric Sprott (La Parrilla mine, Durango). ON RESOURCES AND DEVELOPMENT, Endeavour Silver reported positive results from its drilling exploration program at Pitarrilla project, Durango. Orla Mining delivered initial underground mineral resource estimate for its Camino Rojo property in Zacatecas.  ON DEALS AND CORPORATE ISSUES, Endeavour reported voting results of its annual general meeting of shareholders (Guanacevi mine, Durango). Orogen announced its notice of annual general and special meeting of shareholders (Ermitaño mine, Sonora). Prismo Metals appointed its President, effective immediately (Palos Verdes project, Sinaloa). Reyna Silver announced the resignation of one of its Directors (Batopilas project, Chihuahua). Santacruz declared that it has applied to, and received from the British Columba Securities Commission, a temporary Management Cease Trade Order (Zimapan mine, Hidalgo). Sierra Metals announced that it called an annual general and special meeting of shareholders (Bolivar mine, Chihuahua). Sierra Madre extended a USD $5M loan with First Majestic by a year, pushing the due date to May 2027 (La Guitarra mine, Estado de Mexico).  Vizsla Royalties entered into a royalty purchase agreement with Grupo Minero Bacis to acquire an additional 3% NSR on certain concessions comprising the Panuco-Copala project in Sinaloa. Silver Viper announced the resignation of its CFO and announced the engagement of ICP Securities Inc., to provide automated market making services (La Virginia project, Sonora).   Defiance Silver signed a long-term surface agreement for its Tepal project in Michoacan; restructured its option agreement to acquire a 2.5% NSR from Minera Tepal, and extended the final payment on the San Acacio project in Zacatecas to June 20, 2026, with no changes to economic terms. Mammoth entered into a strategic alliance with RM Minerias, a private company focused on acquiring, developing and restarting to commercial production, mineral extraction and processing facilities in Mexico (Tenoriba project, Chihuahua). Bear Creek presented voting results from its annual general meeting of shareholders and announced the appointment of officers (Mercedes mine, Sonora). ON SOCIAL RESPONSIBILITY, Aura released its 2024 sustainability report (Aranzazu mine, Zacatecas).  

ON MEXICO ISSUES

  • Endeavour Silver Corp., reported the best drilling intercepts in Mexico on the first week of June 2025. Details are shown in the table below:

ON EXPLORATION

  • Pinnacle Silver and Gold Corp., presented underground sampling results from the Pinos Cuates mine at its Potrero project in Durango. The systematic channel sampling of the underground workings has defined lens of high-grade gold and silver mineralization, with individual samples returning up to 37.3 g/t Au and 346 g/t Ag. Composite channel sampling at Pinos Cuates mine returned assays up to 19.4 g/t Au and 266 g/T Ag over 4.1m, including 37.3 g/t Au and 346 g/t Ag over 0.6m, and 31.2 g/t Au and 395 g/t Ag over 0.5m. Underground mapping on the Dos de mayo vein revealed that the vein-breccia system is wide and strong with exposed widths of 10.46m and 8.5m on the upper and lower level respectively, but it still needs to drill to find the full extent. Surface mapping on the Dos de mayo vein system extended the mineralized zone over 1.6km, with grab samples strikingly high gold and silver results like one spot with 13.2 g/t Au and 2,280 g/t Ag, and 5.2 g/t Au and 745 g/t Ag. Visible gold and ginguro textures were observed during the mapping field work. These results demonstrate strong exploration potential and the possibility for near-term development of the high-grade mineralization.
  • Mithril Silver and Gold Limited released high-grade mineralization surface and underground sampling results from target 5 along a 1.6km vein corridor within its Copalquin project in Durango, with grades exceeding 1% copper, lead, and zinc, along with significant Au and Ag in a large area. Highlights channel samples results include 2.84 g/t Au and 777 g/t Ag over 0.8m (Mina Apomal); 5.36 g/t Au and 706 g/t Ag over 0.5m (Apomal Norte); 2.58 g/t Au and 716 g/t Ag over 0.8m (Dulces Nombres); 1.48 g/t Au, 236 g/t Ag, 0.17% Cu, 1.7% Pb, and 0.06% Zn over 1m (Veta Azul); 0.04 g/t Au, 8 g/t Ag, 0.03% Cu, 0.1% Pb, and 1.3% Zn over 1m (Veta Azul); 0.07 g/t Au, 41 g/t Ag, 1.6% Cu, 19 ppm Pb, and 61 ppm Zn over 1m (Apomal); and 0.06 g/t Au, 145 g/t Ag, 0.1% Cu, 1.1% Pb, and 0.05% Zn over 0.85m (Duraznito). These findings reinforce the district’s potential for multiple high-grade deposits and support ongoing resource development efforts Drilling at this target area is set for next quarter after finishing up work in the main resource zone and updating their geological model.

ON MINING

  • Orogen Royalties Inc., presented Q1, 2025 production and financial results. A total of 270,203 tonnes were processed at Ermitaño Mine by First Majestic Silver Corp., with grades of 58 g/t Ag and 2.59 g/t Au and metallurgical recoveries of 68% and 95% respectively. The company reported a net income from operations of CAD $1.8M; royalty revenue of CAD $2.1M from 497 Gold Equivalent Ounces (GEO´s) on average price of USD $2,820 per ounce as a result of the 2% NSR that Orogen holds at Ermitaño; revenue from prospect generation activities of CAD $0.5M; G&A expenses of CAD $1-7M; cash flow of CAD $1.2M; and working capital of CAD $28M at March 31, 2025.

ON FINANCING

  • Defiance Silver Corp., announces brokered  Listed Issuer Financing Exemption (LIFE) offering for gross proceeds of up to CAD $8M for the sale of up to 32,000,000 units at a price of CAD $0.25 per unit. The company also grants the agent an option, exercisable in full or in part up to 48 hours prior to the closing of the Marketed Offering, to sell up to an additional 8,000,000 units at the offering price for additional gross proceeds of up to CAD $2M. Later on, the company upsized the offering to 52,000,000 units at a price of CAD $0.25 per unit for gross proceeds of up to CAD $13M. Concurrent with the brokered offering, the company plans to complete a non-brokered private placement of up to 6,000,000 units of the Company (the “NB Units”, and collectively with the Units, the “Offered Securities”) at a price of CAD $0.25 per NB Unit for additional gross proceeds of up to CAD $1.5M. Defiance plans to use the gross proceeds to complete a Mineral Resource Estimate at its San Acacio project in Zacatecas, to make periodic cash option payments on its Tepal project in Michoacan, and to provide general working capital to support operations.
  • Vizsla Royalties Corp., entered into a bought deal agreement with CIBS Capital Market to sell 27,400,000 common shares at a price of CAD $2 per common share for gross proceeds of CAD $54.8M. Gross proceeds will be used to repurchase 50% of the 3.0% NSR for USD $1.95M and will purchase the remaining 50% of the 3.0% NSR for USD $38.05M, for a total cash consideration of USD $40M subject to potential adjustment in customary circumstances (Panuco project, Sinaloa).
  • Silver Viper Minerals Corp. announced a non-brokered private placement for gross proceeds of up to USD $3.5M from the sale of 23,333,334 units at a price of USD $0.15 per unit. Net proceeds will be used for drilling and other exploration activities at La Virginia project in Sonora, and for working capital and other general corporate purposes.
  • Mammoth Resources Corp., announced a non-brokered private placement of up to 30,000,000 units at a price of CAD $0.025 per unit for gross proceeds of up to CAD $750K. Net proceeds will be used to advance its Tenoriba project in Chihuahua, evaluate potential acquisitions, and support working capital needs.
  • Impact Silver Corp., closed a final tranche of its previously announced non-brokered private placement for gross proceeds of CAD $1,275,320 from the issuance of 460K LIFE units at a price of CAD $0.20 per unit, and from the issuance of 6,574,000 units at a price of CAD $0.18 per unit. With the first tranche closing of CAD $3,930,711, this brings the total oversubscribed financing to CAD $5,206,031. Impact Silver plans to use the net proceeds to accelerate exploration activity at its Plomosas high-grade zinc-lead-silver property in Chihuahua, further develop its prolific silver assets at its legacy Royal Mines of Zacualpan district in Estado de Mexico, as well as invest in operational improvements to improve productivity and throughput. Exploration activities include sampling, target definition, and drilling with the intention of expanding the existing JORC mineral resource at Plomosas mine where exploration potential is exceptional along a 6 km-long structure.  
  • Silver Storm Mining Ltd., announced that it closed the first tranche of its previously announced brokered LIFE financing for gross proceeds of CAD $10,541,050 from the sale of 81,085,000 units at a price of CAD $0.13 per unit, including a CAD $1M investment by Eric Sprott. Net proceeds will be used for the procurement of La Parrilla mine processing flotation cells; to commence rehabilitation work of the La Parrilla processing facility including equipment purchase and refurbishment, labour, and supplies; to order long lead items including deposits on mining equipment and ventilation fans; to fund ongoing operations for the next twelve months; and for general corporate and working capital purposes.

ON RESOURCES AND DEVELOPMENT

  • Endeavour Silver Corp., reported positive results from its drilling exploration program at Pitarrilla project, Durango. Drilling from surface and underground has been successful in intersecting high-grade silver, zinc and lead mineralization and provides additional confidence required to upgrade existing mineral resources. Drilling highlights are shown in the table below:
  • Orla Mining Ltd., delivered initial underground Mineral Resource Estimate (MRE) for its Camino Rojo property in Zacatecas. Measured and indicated mineral resources are 50.1M tonnes of 2.45 g/t Au, 10.6 g/t Ag, and 0.25% Zn (2.58 g/t AuEq), totaling 3.95M Oz Au, 17.05M Oz Ag, and 278M Lb Zn (4.16M Oz AuEq). Inferred mineral resources are 5.6M tonnes of 2.21 g/t Au, 10.9 g/t Ag, and 0.21% Zn (2.33 g/t AuEq), totaling 0.4M Oz Au, 1.95M Oz Ag, and 26M Lb Zn (0.42M Oz AuEq). Orla´s strategy is “to advance the initial underground MRE towards possible future construction decision. This include additional exploration, development planning for an exploration drift to allow for tighter spaced underground drilling, flowsheet design, further metallurgical testing, engineering studies, and permitting activities”.

ON DEALS AND CORPORATE ISSUES

  • Endeavour Silver Corp., reported voting results of its annual general meeting of shareholders and reported the retirement of one of its directors (Guanacevi mine, Durango).
  • Orogen Royalties Inc., announced its notice of annual general and special meeting of shareholders. Orogen will hold its Meeting on June 27, 2025, at 10:00 a.m. (Pacific time)  (Ermitaño mine, Sonora).
  • Prismo Metals Inc., appointed its President, effective immediately (Palos Verdes project, Sinaloa).
  • Reyna Silver Corp., announced the resignation of one of its Directors (Batopilas project, Chihuahua).
  • Santacruz Silver Mining Ltd., declared that it has applied to, and received from the British Columba Securities Commission, a temporary Management Cease Trade Order on the basis that it was unable to file its interim financial statements, accompanying management’s discussion and analysis and required certifications for the interim period ended March 31, 2025 (Zimapan mine, Hidalgo).
  • Sierra Metals Inc., announced that it called an annual general and special meeting of shareholders to be held on July 29, 2025 (Bolivar mine, Chihuahua).
  • Sierra Madre Gold and Silver Ltd., extended a USD $5M loan with First Majestic Silver Corp., by a year, pushing the due date to May 2027. They’re paying 15% interest annually but only interest monthly, with the first six months’ interest deferred in the amount of USD $365K.  This extra time might help them boost capacity at their Guitarra silver-gold mine in Estado de Mexico and speed up exploration efforts. They also granted stock options to new employees and consultants, to purchase an aggregate of 950,000 common shares at a price of USD $0.69 per share for a period of 5 years from the grant date.
  • Vizsla Royalties Corp., entered into a royalty purchase agreement with Grupo Minero Bacis S.A. de C.V., to acquire an additional 3% NSR on certain concessions comprising the Panuco-Copala project in Sinaloa, for a total cash consideration of USD $40M. With this the company increased its total NSR to 3.5%.
  • Silver Viper Minerals Corp., announced the resignation of its CFO and declared that it has initiated a search for a permanent replacement. In the interim, Steve Cope, CEO, will assume the responsibilities of the CFO on a temporary basis until a successor is appointed. The company also announced the engagement of ICP Securities Inc., to provide automated market making services (La Virginia project, Sonora).
  • Defiance Silver Corp., signed a long-term surface agreement for its 100% owned Tepal project in Michoacan, allowing exploration and drilling, and engineering studies over the next six years. This agreement marks a key milestone for Defiance, providing the necessary certainty to advance their work in the project area.  The company also has restructured its option agreement to acquire a 2.5% SR from Minera Tepal S.A. de C.V., with a revised payment schedule starting July 2025. Additionally, an extension for the final payment on the San Acacio land package in Zacatecas has been secured, moving the due date to June 30, 2026, with no changes to economic terms.
  • Mammoth Resources Corp., entered into a strategic alliance with RM Minerias, a private company focused on acquiring, developing and restarting to commercial production, mineral extraction and processing facilities in Mexico (Tenoriba project, Chihuahua). 
  • Bear Creek Mining Corporation presented voting results from its annual general meeting of shareholders and announced the appointment of officers (Mercedes mine, Sonora).

ON SOCIAL RESPONSIBILITY

  • Aura Minerals Inc., released its 2024 sustainability report, in which the company highlighted the progress in promoting safety, responsibility, sustainability, and innovation. The sustainability report disclosures the financial, environmental, and social performance during 2024. Highlights include a strengthened data and cyber security infrastructure for AI integration, R $6.1M investment in community development, reassessment of emissions inventories per Green House Gas (GHG) Protocol, compliance with Responsible Gold Mining Principles, and sourcing 40% of purchases from local suppliers. The company was recognized for gender equity efforts and earned Great Place to Work certification with a 78% favorability score (Aranzazu mine, Zacatecas). 

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 above, low-angle veins hosted in Mn-rich volcanic rocks in a project in the Sonoran Desert. Photo taken by Miguel A Heredia.

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

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Cu mineraliztion in a sericitic-altered intrusive rock

By Miguel A Heredia

During the 15th week of the year (April 7th to April 13th 2025), at least 30 press releases were announced by companies working in Mexico, with eleven communicating production results, seven disclosing deals and corporate issues, six reporting resources and developments of their properties, three announcing financial rounds, one commenting on Mexican issues, and one informing on exploration results.  ON MEXICO ISSUES, Mithril and Angel Wing reported the best drilling intercepts in Mexico on the second week of April, 2025. ON EXPLORATION, In Nayarit, Angel Wing releases results from the initial 13-hole (1,400m) diamond drill program at its La Reyna project. ON MINING, Capstone announced that it will release its Q1, 2025 results on May 1, 2025 (Cozamine mine, Zacatecas).  Gold Resource declared that it will host a year end 2024 conference call on Wednesday, April 9, 2025. Pan American announced that it will report Q1, 2025 unaudited results on Wednesday May 7, 2025 (La Colorada mine, Zacatecas-Durango). Teck announced that it will release Q1, 2025 Q1, 2025 results on April 24, 2025 (San Nicolas mine, Zacatecas). Aura Minerals reported Q1, 2025 production at its Aranzazu mine, Zacatecas. Endeavour Silver announced Q1, 2025 production results from its Mexican mine operations. First Majestic released Q1, 2025 production results. DynaResource reported Q4 and year-end 2024 production and financial results from its San Jose de Gracia mine in Sinaloa. GoGold announced production results for the quarter ending March 31, 2025 from its Parral tailings property in Chihuahua. Torex reported Q1, 2025 production results from its Mexican operation mines in Guerrero. Gold Resource announced full year 2024 production and financial results for its Don David Gold Mine in Oaxaca.  ON FINANCING, Endeavour closed its bought deal financing for aggregate gross proceeds of USD $45M (San Sebastian mine, Jalisco). Pantera Silver closed a non-brokered private placement for aggregate gross proceeds of CAD $1.65M (Nuevo Taxco project, Guerrero). US Antimony secured a $5M line of credit with Truist bank (Los Juarez project, Queretaro).  ON RESOURCES AND DEVELOPMENT, Altius announced that Orogen recently reported an initial resource estimate for the newly discovered Navidad Vein at the Ermitaño mine, Sonora. DynaResource released metallurgical test work results from its san Jose de Gracia mine, Sinaloa. Tocvan announced the commencement of its next phase of 1,500m RC drilling at Pilar project, Sonora. Mithril reported high-grade channel results and drill results from its Copalquin project in Durango. Orogen announced mineral resource and reserve update on its producing Ermitaño royalty in Sonora, including inferred resource for the Navidad Vein. Heliostar reported drill results for its La Colorada mine, Sonora. ON DEALS AND CORPORATE ISSUES, Xali announced the appointment of its new exploration manager (El Oro project, State of Mexico). Defiance Silver entered into a non-binding letter of intent with Green Earth Metals Inc., a private held company holding a portfolio of assets in Mexico. Bear Creek announced closing of debt amendments (Mercedes mine, Sonora).  Sierra Metals reiterated recommendations to take no action as Alpayana amends hostile bid (Bolivar mine, Chihuahua). Plata Latina completed the sale of the 3% NSR on the Naranjillo project, Guanajuato for a total of USD $6M.  ON SOCIAL RESPONSIBILITY, First Majestic released its 2024 sustainability report

ON MEXICO ISSUES

  • Heliostar Metals Ltd., and Angel Wing Metals reported the best drilling intercepts in Mexico on the second week of April 2025, 2025. Details are shown in the table below:

ON EXPLORATION

  • Angel Wing Metal Inc., releases results from the initial 13-hole (1,400m) diamond drill program at its La Reyna project, Nayarit. Five widely spaced targets were drill-tested: El Polo, Dolorosa North, Dolorosa South, Celeste, and Zorrillo. Drilling highlights at El Polo target area include holes LR-25-005 with 1.6 g/t Au, 30 g/t Ag, 216 ppm Cu, 657 ppm Pb, and 463 ppm Zn over 8.20m, including 2.07 g/t Au, 39 g/t Ag, 246 ppm Cu, 718 ppm Pb, and 472 ppm Zn over 7.1m, including 3.75 g/t Au, 70 g/t Ag, 475 ppm Cu, 1,065 ppm Pb, and 560 ppm Zn over 3.75m; and hole LR-25-013 with 1.01 g/t Au, 60 g/t Ag, 429 ppm Cu, 1,384 ppm Pb, 1,965 ppm Zn over 6.80m, including 1.82 g/t Au, 11 g/t Ag, 86 ppm Cu, 982 ppm Pb, and 492 ppm Zn over 1.45m, including 2.09 g/t Au, 234 g/t Ag, 1,045 ppm Cu, 2,630 ppm Pb, and 4,990 ppm Zn over 1.40m. Drilling highlights at  Dolorosa South includes holes LR-25-001 with 1.52 g/t Au, 12 g/t Ag, 802 ppm Cu, 818 ppm Pb, and 133 ppm Zn over 7.75m, including 1.2 g/t Au, 13 g/t Ag, 325 ppm Cu, 890 ppm Pb, and 156 ppm Zn over 3m, including 2.1 g/t Au, 12 g/t Ag, 1,136 ppm Cu, 487 ppm Pb, and 96 ppm Zn over 3m, including 2.14 g/t Au, 21 g/t Ag, 416 ppm Cu, 1,155 ppm Pb, and 185 ppm Zn over 1.50m, including 3.89 g/t Au, 16 g/t Ag, 1,020 ppm Cu, 20 ppm Pb, and 88 ppm Zn over 1m; hole LR-25-011 with 1.46 g/t Au, 1 g/t Ag, 447 ppm Cu, 38 ppm Pb, and 86 ppm Zn over 1.5m; and hole LR-21-012 with 3.59 g/t Au, 10 g/t Ag, 1,071 ppm Cu,

ON MINING

  • Capstone Copper Corp., announced that it will release its Q1, 2025 results on May 1, 2025 (Cozamine mine, Zacatecas). 
  • Teck Resources Limited announced that it will release Q1, 2025 Q1, 2025 results on April 24, 2025 (San Nicolas mine, Zacatecas).
  • Aura Minerals Inc., reported Q1, 2025 production at its Aranzazu mine, Zacatecas. The company produced 20,456 Oz AuEq.
  • Endeavour Silver Corp., announced Q1, 2025 production results from its Mexican mine operations. Table below shows figures by mine:

First Majestic Silver Corp., released Q1, 2025 production results from its four producing underground Mexican mines. Mine by mine production details are shown in the next table:

  • DynaResource Inc., reported Q4 and year-end 2024 production and financial results from its San Jose de Gracia mine in Sinaloa (all currency amounts are expressed in US dollars). During Q4, 2024, Dyna mined 59,940 tonnes and milled 67,670 tonnes of 4.12 g/t Au with a metallurgical recovery of 75.58% to produce 6,775 Oz Au. The company sold 6,897 Oz Au. During 2024 full year, the company mined 233,782 tonnes and milled 256,676 tonnes of 4.07 g/t Au with a metallurgical recovery of 76.24% to produce 25,677 Oz Au. The company sold 22,003 Oz Au. Dyna also reported for Q4, 2024 revenue of $14.8M and a net income of $0.1M, while for the full year 2024 it reported revenue of $46.5M and a net income of $8M.
  • GoGold Resources Inc., announced production results for the quarter ending March 31, 2025 from its Parral tailings property in Chihuahua. The company produced 210.3K Oz Ag, 3.3K Oz Au, 351.7K Lb Zn, and 262.1K Lb Cu (555.5K Oz AgEq).
  • Torex Gold Resources Inc., reported Q1, 2025 production results from its Mexican operation mines in Guerrero. Figures of the production results are shown in the table below:

The company is on track to achieve annual payable guidance of 400K-450K Oz AuEq.

  • Gold Resource Corporation announced full year 2024 production and financial results for its Don David Gold Mine in Oaxaca. The company produced and sold a total of 18.6K Oz AuEq comprising of 8,598 Oz Au and 817.3K Oz Ag sold at an average price of USD $2,354 and USD $28.75 respectively. Gold Resource reported USD 41.6M cash and cash equivalent as at December 31, 2025; working capital of USD $2.1M; and cash and AISC of USD 42,330 and USD $2,939 per Oz AuEq sold.

ON FINANCING

  • Endeavour Silver Corp., closed its bought deal financing for the issuance of 11,600,000 common shares at a price of USD $3.88 per common share for aggregate gross proceeds of USD $45M (San Sebastian mine, Jalisco).
  • Pantera Silver Corp., closed a non-brokered private placement financing by issuing a total of 6,600,000 units at a price of CAD$0.25 per unit for aggregate gross proceeds of CAD $1.65M (Nuevo Taxco project, Guerrero).
  • US Antimony Corporation secured a $5M line of credit with Truist bank. There are no immediate plans to utilize any borrowing under this new line of credit. The company only intends to utilize this credit facility as needed to support strategic growth initiatives, primarily associated with antimony inventory building (Los Juarez project, Queretaro).

ON RESOURCES AND DEVELOPMENT

  • Altius Minerals Corporation announced that Orogen Royalties Inc., recently reported an initial resource estimate for the newly discovered Navidad Vein at the Ermitaño mine, Sonora.
  • DynaResource Inc., released metallurgical test work results from its San Jose de Gracia mine, Sinaloa, as part of the preparation of an SK 1300 technical report. “The metallurgical test work results from three fresh rock composite samples from the active exploration areas of San Pablo, San Pablo Sur, and La Mochomera show excellent recovery > 95% in all samples using gravity followed by flotation (using standard industry reagents). Additionally, gravity gold recoveries reached up to 33.8%, confirming that the gold mineralization is amenable to conventional gravity gold processing methods such as Falcon concentrators”. 
  • Tocvan Ventures Corps., announced the commencement of its next phase of 1,500m RC drilling at Pilar project, Sonora. Drilling will focus on the 100% controlled expansion area where recent scout drilling returned significant mineralization.
  • Mithril Silver and Gold Limited reported high-grade channel results and drill results from its Copalquin project in Durango. Channel sampling highlights at Las Brujas working area includes 21.5 g/t gold and 337 g/t silver over 1m; 7.71 g/t Au and 170 g/t Ag over 1m; 3.7 g/t Au and 67 g/t Ag over 3m; 8.8 g/t Au and 74 g/t Ag over 2m; 7.85 g/t Au and 128 g/t Ag over 2m; 28.7 g/t Au and 356 g/t Ag over 1m; 15.3 g/t Au and 127 g/t Ag over 1m; 21.8 g/t Au and 156 g/t Ag over 1m; and 4.77 g/t Au and 94 g/t Ag over 1m. Channel sampling highlights at El Peru working area includes 5.66 g/t Au and 155 g/t Ag over 9.5m; 26.8 g/t Au and 1,004 g/t Ag over 2m; and 31.8 g/t Au and 233 g/t Ag over 1m. Mithril also reported the results of the drill hole MTH-LS25-20 at the Target 1, which intersected 9.06 g/t Au and 11 g/t Ag over 2.90m, including 44.7 g/t Au and 43 g/t Ag over 0.5m.
  • Orogen Royalties Inc., announced mineral resource and reserve update on its producing Ermitaño royalty in Sonora, including inferred resource for the Navidad Vein. Ermitaño reserves and resources as of Dec 31, 2024 are shown in the next table:

The company also reported Initial inferred resources for the Navidad vein system of 2.3M tonnes consisting of 5.9M Oz Ag and 249K Oz Au at grades of 81 g/t and 3.42 g/t respectively.

  • Heliostar Metals Ltd., reported drill results for its La Colorada mine, Sonora. Drilling highlights can be seen in the next table:

ON DEALS AND CORPORATE ISSUES

  • Xali Gold Corporation announced the appointment of its new exploration manager (El Oro project, State of Mexico).
  • Defiance Silver Corp., entered into a non-binding letter of intent (LOI) with Green Earth Metals Inc. (GEMS), a private held company holding a portfolio of assets in Mexico. Defiance proposes to acquire all issued and outstanding shares of GEMS in a strategic transaction. GEMS holds rights to three-drill permitted copper-gold-silver molybdenum projects in Mexico´s Sonora desert porphyry copper belt, covering a total of 6,795.22 hectares. The GEMS assets comprise the Victoria, Espiritu, and Los Ocotes project areas  “Under the terms of the LOI, Defiance proposes to issue common shares to GEMS shareholders in exchange for all of the issued and outstanding common shares of GEMS, based on an exchange ratio of 1 Defiance Share for every 4.52 GEMS Shares. In total, Defiance proposes to issue 4,954,613 Defiance Shares of Defiance at a price of CAD $0.255 per share, for a total purchase price of CAD $1,250,000 (excluding the Convertible Debenture Financing)”. Upon the closing of the transaction, GEMS will become a wholly-owned subsidiary of Defiance. In connection with the transaction, Defiance has also agreed to invest in GEMS through an unsecured convertible debenture for a total amount of CAD $150K. The convertible debenture will bear simple interest at 8.0% per annum and will mature two years from the closing of the convertible debenture financing.
  • Bear Creek Mining Corporation announced that it closed the amending agreements with each of Equinox Gold Corporation and Sandstorm Gold Ltd. Bear Creek will temporarily defer monthly interest payments on their existing debt obligations from February 2025 to November 2025, with all deferred interest due by December 31, 2025. The company anticipates issuing a new secured promissory note to Sandstorm in 2025 for up to USD $6.5M to support working capital, pending approval from the TSX Venture Exchange.
  • Sierra Metals Inc., reiterated recommendations to take no action as Alpayana amends hostile bid. The Board asserted that the bid, recently amended to offer CAD $1.1 per share, still undervalues the company. None of the directors or officers intend to tender their shares. The board emphasizes its successful operational improvements and advises shareholders not to act on the hostile bid, which it deems opportunistic and a poor reflection of the company’s true value (Bolivar mine, Chihuahua).
  • Plata Latina Minerals Corporation completed the sale of the 3% NSR on the Naranjillo project, Guanajuato for a total of USD $6M to a wholly-owned subsidiary of Fresnillo plc. The company retains a 2% NSR with Fortuna Mining Corp. on the La Joya project, which is located in the state of Hidalgo.
  • Vizsla Royalties Corp., adopted a new omnibus equity incentive compensation plan to replace the existing stock option plan, effective April 1, 2025. As part of this plan, the company has granted 2,800,000 performance share units (PSUs) to its officers, directors, employees, and consultants, which will vest after one year based on specific performance targets. If these targets are met, each vested PSU can be exchanged for one common share or settled in cash at the discretion of the Board. Approval from the TSX Venture Exchange and disinterested shareholders will be sought at the company’s upcoming annual general meeting in Q3 2025 (Panuco project, Sinaloa).

ON SOCIAL RESPONSIBILITY

  • First Majestic Silver Corp., released its 2024 sustainability report. The report highlights significant achievements, including record safety performance with a 48% reduction in Total Recordable Incident Frequency Rate (TRIFR) and a 70% reduction in Lost Time Injury Frequency Rate (LTIFR). The company also reported a 33% reduction in carbon footprint per tonne of ore processed and invested over USD $1.2M in community projects, resulting in a notable decrease in community complaints.

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 above, Cu mineralization in a sericitic-altered intrusive rock in an IOCG project in Sonora, Mexico. Miguel A Heredia in the photo.