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The Mining and Exploration News in Mexico: Highlights on the Second Week of March, 2026

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Hydrothermal breccia

By Miguel A Heredia

During the 11th week of the year (March 9th to March 15th 2026), at least 19 press releases were announced by companies working in Mexico, with six disclosing deals and corporate issues, five announcing financing rounds, four informing on exploration results, two communicating production results, one reporting resources and development of their properties, and one informing on Mexican issues. ON MEXICO ISSUES, Colibri reported the best drilling intercepts in Mexico on the second week of March, 2026. ON EXPLORATION, In Sonora, Algo Grande provided an exploration update on its Adelita project and Colibri released assay results from its Phase 1 reconnaissance RC program completed at its El Plomo project.  In Durango, Capitan Silver informed that a third rig has arrived at its Cruz de Plata project and provided an update on the ongoing 60,000m drilling program for 2026. In Zacatecas, Defiance Silver announced that it received the approval from SEMARNAT to conduct drilling at its San Acacio project. ON MINING, Altius Minerals reported its full 2025 attributable royalty revenue and adjusted earnings (Cuale project, Jalisco). Avino reported Q4 and full year 2025 production and financial results from its Avino mine in Durango.  ON FINANCING, Barksdale announces private placement for gross proceeds of CAD $953,780.51, and repricing it to CAD $763,024.41 (San Javier project, Sonora). Orex closed its previously announced private placement for gross proceeds of CAD $4M (Coneto project, Durango). Vortex announced a non-brokered private placement for gross proceeds of up to CAD $850K (Riqueza Marina project, Oaxaca). Orogen informed that it plans to raise up to CAD $10M by way of a non-brokered private placement (Ermitaño mine, Sonora). ON RESOURCES AND DEVELOPMENT, Kootenay provided an update on their progress with four silver deposits, focusing mostly on pushing their drilling at the Columba site and moving forward with the La Cigarra project, both located in Chihuahua. ON DEALS AND CORPORATE ISSUES, Luca Mining announced the appointment of Nick Shakesby as Chief Operating Officer, and hired Jose Hernandez as Vice President, Metallurgy and Process Engineering (Campo Morado mine, Guerrero). Orex engaged the services of ICP Securities Inc for automated market making services (Coneto project, Durango). Vortex appointed Craig W Beasley as Technical Advisor to the company (Riqueza marina project, Oaxaca). Teck released its 25th annual sustainability report (San Nicolas project, Zacatecas). Tocvan appointed Darin Wagner as Special Technical Advisor and announced partnership with VRIFY (Pilar project, Sonora). ON SOCIAL RESPONSIBILITY, No relevant news.

ON MEXICO ISSUES

  • Colibri Resource Corporation, reported the best drilling intercepts in Mexico on the second week of March, 2026. Details are shown in the table below:

ON EXPLORATION

  • Algo Grande Copper Corp., provided an exploration update on its Adelita project in Sonora. The company recently completed Phase 1 drilling with assay results pending. Surface prospecting across the property collected 49 rock samples, 19 of which graded above 1% copper, confirming copper–gold–silver mineralization across multiple targets including Potrero South, Las Trancas, Cerro Grande Northwest, La Molina, and Mezquital. A significant new skarn zone was discovered at Potrero south, about 3 km south of Cerro Grande, with over 300 meters of surface exposure and samples exceeding 3% copper. Other highlights include high-grade samples including one with 41.4 % Cu, 1.97 g/t Au 1,570 g/t Ag at Las Trancas and 1.99 % Cu, 17.9 g/t Au and 44 g/t Ag at La Molina targets. The company confirmed mineralization on both limbs of the Cerro Grande limestone fold, and encouraging copper-bearing float samples associated with tourmaline breccias at Mezquital indicating possible porphyry systems. The results suggest a district-scale, multi-deposit copper-dominant skarn-porphyry system with notable gold and silver credits. Follow-up exploration including Phase II drilling is planned for Q2 2026 to target these multiple prospects.
  • Colibri Resource Corporation  released assay results from its Phase 1 reconnaissance RC program completed at its El Plomo project in Sonora. The company informed that 18 out of 22 holes intersected gold. Drilling highlights include hole PL26-017 with 2.92 g/t Au over 7.5m, including 9.95 g/t Au over 1.5m; hole PL26-015 with 0-73 g/t Au over 30m including 1.01 g/t Au over 6m; hole PL25-011 with 0.45 g/t Au over 30m, including 1.16 g/t Au over 6m; including 2.12 g/t Au over 1.5M; hole PL25-004 with 1.29 g/t Au over 4.5mm; and hole PL25-005 with 0.28 g/t Au over 12m.
  • Capitan Silver Corp., informed that a third rig has arrived at its Cruz de Plata project in Durango. This rig is the second of three core drill rigs that will join the existing RC drill rig to complete the ongoing aggressive 60,000 drilling campaign for 2026, which is focused on expanding the high grade silver zones identified at the property, as well as to drill-tst mineralization along the Jesus Maria silver trend. To date, 34 drill holes are pending of assay results, including the first seven core holes drilled with the first diamond rig which commenced drilling last February, 2026.
  • Defiance Silver Corp., announced that it received the approval for its Informe Preventivo (IP) from SEMARNAT to conduct drilling at its San Acacio project in Zacatecas. The IP enable authorize Defiance to increase the available roads and construct up to new 44 drill pads and for up to 35 new access road. The IP is valid for a period of 54 months.

ON MINING

  • Altius Minerals Corporation reported its full 2025 attributable royalty revenue of CAD 69.9M and adjusted earnings of CAD 422.5M (Cuale project, Jalisco).
  • Avino Silver & Gold Mines Ltd., announced Q4 and full year 2025 production and financial results from its Avino mine in Durango (all currency expressed in US dollars). In the period Q4, 2025, the company processed 189,338 tonnes to produce  345.3K Oz Ag, 1,687 Oz Au, and 1.29M Lb Cu (671.6K Oz AgEq) at cash and AISC of $21.1 and $31.59 per Oz AgEq payable respectively, and reported revenue of $30.54M; mine operating income of $17.84M; net income of $10.46M; EBITDA of $14.41M; adjustable earnings of $16.3M; cash provided by operating activities of $9.98M; operating cash flow before working capital adjustment of  $18.95M; and mine operating cash flow before taxes of $18.99M. For the full year 2025, it processed 736,935 tonnes to produce  1.16M Oz Ag, 7,621 Oz Au, and 5.67M Lb Cu (2.61M Oz AgEq) at cash and AISC of $16.13 and $23.75 per Oz AgEq payable respectively, and reported revenue of $92.23M; mine operating income of $48.53M; net income of $26.64M; EBITDA of $42.99M; adjustable earnings of $46.53M; cash provided by operating activities of $27.42M; operating cash flow before working capital adjustment of $35.34M; and mine operating cash flow before taxes of $52.71M. Avino also reported cash as of December 31, 2025 of $101.72M and working capital of $99.56M.

ON FINANCING

  • Barksdale Resources Corp., announces private placement of 8,478,049 common shares by Crescat Capital LLC at a price of CAD $0.1125 per common share for gross proceeds of CAD $953,780.51. The company repriced the private placement at a price of CAD $0.09 per unit for gross proceeds of CAD $763,024.41. Net proceeds will be used for on-going corporate expenses (San Javier project, Sonora).
  • Orex Minerals Inc., closed its previously announced private placement of 30,303,030 units at a price of CAD $0.165 per unit for gross proceeds of CAD $4M. part of the funds will be used to satisfy annual tax obligations associated with its current property holdings, to maintain a general reserve for potential future transactions, and to cover general corporate and overhead expenses incurred in the ordinary course of business over the next 12 months (Coneto project, Durango).
  • Vortex Minerals Inc., announced a non-brokered private placement of up to 17,000,000 units at a price of CAD $0.05 per unit for gross proceeds of up to CAD $850K. Part of the gross proceeds will be used for general working capital purposes (Riqueza marina project, Oaxaca).
  • Orogen Royalties Inc., informed that it plans to raise up to CAD $10M by way of a non-brokered private placement consisting of issuing up to 2,890,274 common shares at a price of CAD $3.46 per common share. Net proceeds will be used to develop generative exploration initiatives, executing potential royalty acquisitions, and strengthening the Company’s working capital to support its ongoing growth strategy (Ermitaño mine, Sonora).

ON RESOURCES AND DEVELOPMENT

  • Kootenay Silver Inc., provided an update on their progress with four silver deposits, focusing mostly on pushing their drilling at the Columba site and moving forward with the La Cigarra project, both located in Chihuahua. The four deposits (Promontorio, La Cigarra, Columba, and La Negra) combined total 119.79M measured + indicated Oz Ag and another 82.78M inferred Oz Ag. On a silver equivalent basis those 4 deposits total 223M measured plus indicated Oz AgEq and 111M inferred Oz AgEq. At Columba project, Kootenay is conducting a systematic step-out drilling to expand its resource. This program will consist of 60,000m, with 18,000m completed so far in 2026, and the goal is to determine if mineralization extends at depth and toward the edges of the deposits. At La Cigarra project, a preliminary economic assessment (PEA) is underway, expected to be completed later in Q2, 2026, with a drill program planned to expand the resource by testing a “Gap Zone”. It also informed that a recent bought deal financing has fortified their treasury, providing funding for the next 18-24 months to continue exploration and future development activities.

ON DEALS AND CORPORATE ISSUES

  • Luca Mining Corp., announced the appointment of Nick Shakesby as Chief Operating Officer, effective April 1, 2026, and hired Jose Hernandez as Vice President, Metallurgy and Process Engineering, effective March 1, 2026 (Campo Morado mine, Durango).  
  • Orex Minerals Inc., engaged the services of ICP Securities Inc to provide automated market making services. ICP will be paid a monthly fee of CAD $7,500 plus applicable taxes (Coneto project, Durango).
  • Vortex Metals Inc., appointed Craig W Beasley as Technical Advisor to the company. The company granted 200,000 stock options at a price of CAD $0.05 per common share for a period of five years from the date of grant (Riqueza Marina project, Oaxaca).
  • Teck Resources Limited released its 25th annual sustainability report, highlighting the company’s 2025 performance in key areas, including support for communities, Indigenous Peoples, health and safety, diversity and climate (San Nicolas project, Zacatecas).
  • Tocvan Ventures Corp., appointed Darin Wagner as Special Technical Advisor and informed that it partnered with VRIFY to enhance exploration activities at the El Gran Pilar project in Sonora. “The collaboration will see Tocvan integrate VRIFY Predict, specifically DORA, an AI prospectivity mapping software, to generate and prioritize new high-confidence exploration targets at its flagship Pilar Project”.

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, HQ core showing a hydrothermal breccia in an intermediate sulphidation epithermal vein-breccia system in Chihuahua, Mexico. Photo taken by Miguel A Heredia.

The Mining and Exploration News in Mexico; Highlights on the First Week of March 2026

/ Gambusino Prospector / Leave a comment

By Jorge Cirett

During the 10th week of the year (March 2nd to March 8th, 2026), companies working in Mexico released 22 press releases. One company informed on early-stage property work, two presented quarterly and full-year reports. One company updated on a financing round, one informed on a credit facility, one other company on its credit rating, one more on its share re-purchase plan and one on the trading on a new Exchange. Four companies presented drilling results on advanced properties and one updated the MRE and a PEA on its advanced property. Eight companies informed on deals and corporate issues. ON MEXICO ISSUES, the president asserted that the moratorium in new claims is to continue. Rules on small scale coal mining are to be strengthened. ON EXPLORATION, in Sonora, Regency Silver presented drilling results from Dios Padre. ON MINING, Capstone Copper and Starcore International Mines presented quarterly and full-year reports. ON FINANCING, one company informed on a financing round: Silver spruce Resources (C$2 M). Elemental Royalty amended a US$150 M credit facility. Aura Minerals credit rating was upgraded. Pan American Silver intends to repurchase up to 5% of its shares. Highlander Silver is to trade on the NYSE. ON RESOURCES AND DEVELOPMENT, Kootenay silver released results from drilling at Columba, Chihuahua. Advance Metals presented drill results from Yoquivo, in Chihuahua. Pan American Silver reported drilling results from La Colorada, in Zacatecas, encountering several new veins. Luca Mining released drill results from Tahuehueto, in Durango. Sonoro Gold presented a new MRE and a PEA on its Cerro Caliche project in Sonora. ON DEALS AND CORPORATE ISSUES, Royalties Inc. informed on its legal proceedings with Capstone on Cozamin royalties. Heliostar Metals entered into a binding agreement with Zacatecas Silver on several non-core properties. Medoro Metals informed on the proposed reverse takeover with Narrow River. Vizsla Silver updated on the situation in Concordia, at the Panuco project in Sinaloa. Altius Minerals and Lithium Royalty completed their arrangement. Mithril Silver, Endeavour Silver and Heliostar Metals announced appointments to the board or executive positions. ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUES

  • The Work Secretariat in Mexico is about to strengthen the rules on small scale coal mining. Such operations usually work with less strict security measures.
  • The United States army asked mining companies in USA help to increase the supply of 13 critical minerals. Selected projects could receive development funds between US$100 and over US$500 million The list includes arsenic, bismuth, graphite, tungsten and vanadium, minerals of which there are known prospects in Mexico.
  • The president of México, Claudia Sheinbaum, asserted she will continue with the moratorium in mining concessions, with the only exception for lithium by the government funded LitioMx.  

ON EXPLORATION

  • Regency Silver Corp. announced results of its 5-hole 3,142 m drill program at Dios Padre, in Sonora. Highlighted core length results comprise 36.3 m @ 2.23 gpt Au (including 9.0 m @ 5.43 gpt Au); 22.0 m @ 0.36 gpt Au; 22.5 m @ 0.24 gpt Au; 18 m @ 94 gpt Ag (including 9.0 m @ 158 gpt Ag); 18.0 m @ 69 gpt Ag; 10.5 m @ 64 gpt Ag; 24.3 m @ 0.65% Cu (including 5.7 m @ 1.44% Cu); 18.0 m @ 0.41% Cu; 4.5 m @ 1.24% Cu. Antimony intercepts can be as high as 9 m @ 0.39% Sb. “it appears as though the lower gold rich breccia zone is spatially connected to the Dios Padre silver mine, though it may be locally shuffled and displaced via faulting.. The breccia itself appears to be primarily controlled by a swarm of Quartz-feldspar porphyry dykes that anastomose from depth towards the silver mine at surface”.

ON MINING

  • Capstone Copper Corp. reported financial results for Q4 and full-year 2025 with some figures from its Mexican operations. The company had a consolidated 2025 production of 224.8 K tonnes Cu at cash cost $2.44 per Lb Cu, net income of US$315.6 M, adjusted EBITDA of US$952.7 M and net debt of US$780.1 M. At Cozamin, in Zacatecas, the company produced 25,348 tonnes Cu in the year, 6,170 tonnes Cu in Q4, at cash cost $1.32 per Lb Cu in 2025 (the lowest for Capstone in an average of $2.00 per Lb Cu).
  • Starcore International Mines Ltd. filed results “for the third quarter ended January 31, 2026”. During the period the San Martín unit in Querétaro milled 52.6 K tonnes grading 1.33 gpt Au, 18.3 gpt Ag, recovering 85.7% Au, 46.4% Ag. Revenue was C$13.5 M, earnings of C$6.2 M and net income C$1.3 M.

ON FINANCING

  • Silver Spruce Resources Inc. announced a non-brokered private placement to raise proceeds of up to C$2 M (Pino de Plata, Chihuahua).
  • Elemental Royalty Corp. signed an amendment to the existing revolving credit facility, which was upsized to US$150 M with a US$50 M accordion feature (royalty on Mercedes, Sonora).
  • Aura Minerals Inc. announced its issuer credit rating was upgraded “by S&P Global Ratings from ‘B+’ to ‘BB-’, with stable outlook and, on national scale, S&P upgraded Aura’s Brazilian National Scale rating from ‘brAA’ to ‘brAA+’ and revised the outlook from positive to stable” (Aranzazu, Zacatecas).
  • Pan American Silver. intends to renew its normal course issuer bid to purchase up to 21 M of its common shares, or up to 5% of Pan American Silver’s issued and outstanding shares (La Colorada, Zacatecas).
  • Highlander Silver Corp. received approval to list its common shares on the NYSE American LLC (Mercedes, Sonora).

ON RESOURCES AND DEVELOPMENT

  • Kootenay Silver Inc. announced additional assay results from nine drill holes at its Columba project in Chihuahua. Approximately 17,000 m have been drilled on 24 holes of the planned 50,000-60,000 m expansion program on the 54.1 M Oz Ag contained in 5.92 M tonnes grading 284 gpt Ag. Highlighted true width intervals comprise 0.42 m @ 1,020 gpt Ag, 0.7% Pb, 1.6% Zn; 12.64 m @ 76 gpt Ag, 0.1% Pb, 0.2% Zn; 5.3 m @ 503 gpt Ag, 0.1% Pb, 0.6% Zn (including 0.58 m @ 3,620 gpt Ag, 0.1% Pb, 0.8% Zn); 9.29 m @ 31 gpt Ag, 0.4% Pb, 1.3% Zn; 3.04 m @ 98 gpt Ag, 0.1% Pb, 2.1% Zn; 1.92 m @ 6 gpt Ag, 1.2 % Pb, 4.5% Zn; 6.08 m @ 319 gpt Ag, 0.1% Pb, 0.6% Zn (including 2.0 m @ 687 gpt Ag, 0.2% Pb, 0.8% Zn).
  • Advance Metals Ltd. reported drilling results from its Yoquivo project in Chihuahua. Highlighted core length intervals comprise 1.82 m @ 2.8 gpt Au, 20 gpt Ag; 10.4 m @ 0.4 gpt Au, 69 gpt Ag; 67.88 m @ 0.9 gpt Au, 68 gpt Ag (Including 23.89 m @ 1.7 gpt Au, 123 gpt Ag). The company stresses current results “support a potential transition at Yoquivo from an exclusively narrow-vein underground opportunity toward a scalable development scenario potentially incorporating both underground and bulk tonnage open-pit mineralisation”.
  • Pan American Silver Corp. reported drill results from the southeastern and eastern Candelaria zones of the La Colorada mine in Zacatecas. Highlighted true width intervals comprise 11.6 m @ 0.81 gpt Au, 241 gpt Ag, 0.17% Cu, 2.1% Pb, 4.5% Zn; 1.03 m @ 6.19 gpt Ag, 9,730 gpt Ag, 1.22% Cu, 2.6% Pb, 5.7% Zn; 5.13 m @ 0.77 gpt Au, 1,000 gpt Ag, 0.29% Cu, 3.7% Pb, 6.7% Zn; 65.63 m @ 0.12 gpt Ag, 101 gpt Ag, 0.07% Cu, 0.3% Pb, 2.5% Zn; 9.27 m @ 0.27 gpt Au, 332 gpt Ag, 0.32% Cu, 3.8% Pb, 8.4% Zn and a core length interval of 26.35 m @ 0.1 gpt Au, 22 gpt Ag, 1.1% Pb, 2.5% Zn. “Exploration drilling between the Cristina and San Gerónimo systems has resulted in the discovery of at least four new veins and associated contact-related replacement mineralization”.
  • Luca Mining Corp. reported assay results from its ongoing 2026 drilling program at the Tahuehueto mine in Durango. Highlighted core length intervals comprise 1.7 m @ 3.06 gpt Au, 58 gpt Ag, 1.08% Cu, 2.4% Pb, 9.9% Zn; 7.6 m @ 14.27 gpt Au, 47 gpt Ag, 0.33% Cu, 2.6% Pb, 1.2% Zn (including 2.6 m @ 25.13 gpt Au, 25 gpt Ag, 0.1% Pb, 0.2% Zn); 15.9 m @ 0.83 gpt Au, 63 gpt Ag, 0.68% Cu, 0.8% Pb, 1.3% Zn; 1.9 m @ 1.38 gpt Au, 178 gpt Ag, 2.38% Cu, 0.8% Pb, 0.7% Zn; 13.2 m @ 6.66 gpt Au, 17 gpt Ag, 0.2% Pb, 0.7% Zn. “Initial drilling has intersected high-grade gold mineralization in breccia zones, immediately below current mine workings, confirming continuity of breccia-hosted mineralization within the Creston vein system”.
  • Sonoro Gold Corp. announced results of a new mineral resource estimate (MRE) and an updated preliminary economic assessment (PEA) on the Cerro Caliche project in Sonora. The study base case at $3,500 per Oz Au, $48 per Oz Ag includes a pre-tax NPV (-8%) of $360 M, pre-tax IRR of 65%, after-tax NPV of $224 M and after tax IRR of 50%, with recoveries of 72% Au, 27% Ag, a 10-year LOM with 459 K Oz AuEq , cash costs of $1,842 per Oz AuEq and an AISC of $1,902 per Oz AuEq, with a 1.7 years payback period.

ON DEALS AND CORPORATE ISSUES

  • Royalties Inc. reported that “the Federal Prosecutor filed formal opposition to Capstone Gold’s constitutional challenge called an Amparo against a Zacatecas appellate ruling that upheld MPZ’s royalty rights over disputed mining royalty payments. …. The Federal Court will likely take 4-6 months to process the above recommendation to uphold the lower court decisions and it overturns State decisions in only 3% of cases” (disputing royalty on some Cozamin claims, Zacatecas).
  • Heliostar Metals Ltd. entered into a binding agreement with Zacatecas Silver Corp. pursuant to which Heliostar will grant Zacatecas the option to acquire a 100% interest in non-core exploration projects Cúmaro (Sonora), La Lola (Sonora), Oso Negro (Sonora) and Ejutla (Jalisco?). The agreement consists of staged payments to Heliostar over the next three years totalling $450 K in cash and $750 K in shares of Zacatecas Silver, with $150 K in cash and $300 K in shares being paid upon closing. Heliostar will retain a 2% NSR on the property with 1% available to repurchase before production for $2 M.
  • Madoro Metals Corp. informed on the proposed reverse takeover with Narrow River Resources Pty Ltd. Madoro and NRR continue to advance and progress as expected in the TSX Venture Exchange requirements, including technical reporting, preparation of transaction documentation, and assembly of required regulatory filings. The parties remain committed to moving the proposed transaction forward (Yautepec, Oaxaca).
  • Vizsla Silver Corp. provided an update of the situation at the Panuco project in Sinaloa, announcing that the company “has been focused on supporting the families of the ten colleagues taken from its project site in Concordia, as well as its employees, through a time of pain, grief, and uncertainty … Vizsla Silver continues to cooperate fully with Mexican authorities as search efforts and the broader investigation proceed. The Company remains committed to supporting the authorities in their work and will continue to provide updates as confirmed information becomes available. The safety and security of employees, contractors, and community members remain Vizsla Silver’s highest priority. The Company continues to review and strengthen its security protocols in close coordination with local authorities”.
  • Altius Minerals Corp. and Lithium Royalty Corp. announced the completion of their plan of arrangement. It was approved by LRC shareholders at a special meeting of shareholders held on February 26, 2026 with 99.8% of all votes cast being in favor of the arrangement (royalty on Cuale, Jalisco).
  • Mithril Silver and Gold Ltd. announced the appointment of James Barr as Vice President, Exploration (Copalquin, Durango).
  • Endeavour Silver Corp. announced the appointment of George Paspalas to the board of directors, the retirement of Don Gray as Chief Operating Officer and the appointment of Luis Castro as Chief Operating Officer (Terronera, Jalisco).
  • Heliostar Metals Ltd. announced the addition of Tara Gilfillan as a non-executive director and Audit Chair to the board of directors (Ana Paula, Guerrero).

ON SOCIAL RESPONSIBILITY

  • No Relevant News.

On the image below: chlorite alteration and specularite veining on volcanosedimentary rocks, HQ core. Picture by Jorge Cirett.