Three companies announced results from drilling campaigns in Mexico during the week.
Heliostar Metals reported assay results from five holes that are infilling the High Grade Panel at its Ana Paula project in Guerrero. Another fourteen holes on the same area are awaiting results, same that are to add to the information gathering for an upcoming feasibility study (FS) and the future mine plan. “Mineralization at Ana Paula occurs as disseminations or vein stockworks with variable controls including rock porosity, lithology and fault networks” interpreted to be a high level example of the gold skarn mineralization on the other large deposits present in the Guerrero Gold Belt.
Impact Silver announced results from two holes drilled in the SE Area of the San Marcial deposit at its Plomosas project in Sinaloa, confirming mineralization up to 500 m downdip from surface. Two rigs are on site and additional rigs are in transit to “complete the planned 20,000 metres by H2 2026”. Recent drilling “has delineated wide, high-grade, shallow hydrothermal breccias in the San Marcial Area, including the SE Area discovery” in this intermediate to low sulfidation epithermal mineralization.
Impact Silver released surface drill results on the northern extension of the Carlos Pacheco vein system at its Noche Buena mine in the Royal Mines of Zacualpan District in Estado de México. The district is known for its precious metals intermediate sulfidation mineralization.
During the 16th week of the year (April 13th to April 19th, 2026), companies working in Mexico released 22 press releases. Six companies informed on early-stage property work on their projects, seven companies presented quarterly and/or full-year 2025 reports and one received a drill quote. Reflecting the global capital markets turmoil, only one company updated on a financing round. Two companies presented PEA reports on their properties, another one re-assayed historic drill core, one more released drill results on its advanced project and one more presented consolidated MRE’s. One company is to change its financial’s reporting and another one updated on legal issues. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, in Sonora, Tocvan is accelerating trenching and mine works at Gran Pilar; Questcorp Mining quickens exploration at La Unión; Algo Grande Copper prepares for drilling at Adelita. In Chihuahua, Centenario Gold initiates work at Los Reyes. In Oaxaca, EV Resources defines antimony system at Los Lirios and continues to advance the project. ON MINING,Orla Mining, GoGold, Fuerte Metals, Impact Silver, Americas Gold and Silver, Santacruz Silver Mining and Fresnillo plc reported quarterly and/or yearly results. Mammoth Resources received a drill quote for Tenoriba, in Chihuahua. ON FINANCING, one company informed on a financing round. ON RESOURCES AND DEVELOPMENT, Silverco Mining released a PEA for the Cusi mine in Chihuahua. Mercado Minerals completed re-assaying of historic core at Copalito, in Sinaloa. Pacifica Silver reported drilling results from Claudia, in Durango. Sonora Gold updated the PEA on Cerro Caliche, in Sonora. Avino Silver & Gold announced consolidated MRE’s on La Preciosa and Avino, in Durango. ON DEALS AND CORPORATE ISSUES, Silver Dollar adopted semi-annual financial reporting. Silver Bull updated on its arbitration case against Mexico. ON SOCIAL RESPONSIBILITY, no relevant news.
ON MEXICO ISSUES
No Relevant News
ON EXPLORATION
Tocvan Mobilizes heavy Equipment at Gran Pilar to accelerate trenching and mine works: Tocvan Ventures (Gran Pilar, Sonora).
Questcorp Mining Accelerates Phase 2 Exploration at La Union Following New Gold Discovery: Questcorp Mining (La Unión, Sonora).
Centenario Announces Initial Work Starting at the Los Reyes Copper Gold Project in Chihuahua, Mexico: Centenario Gold Los Reyes, Chihuahua).
EV Resources Defines Large-Scale, Shallow CRD Antimony System at Los Lirios: EV Resources (Los Lirios, Oaxaca).
Algo Grande Begins Earthworks in Preparation for Phase II Drill Program at Adelita and Announces Grant of Options and Restricted Share Units: Algo Grande Copper (Adelita, Sonora)
Impact Silver Announces Full Year 2025 Results with Record Revenue and Strong Cash Position: Impact Silver (Zacualpan, Estado de México; Plomosas, Chihuahua)
Americas Gold and Silver Corporation Announces New Record Quarterly Silver Production and Sales, Including 787,000 Ounces Produced and 830,000 Ounces Sold: Americas Gold and Silver (Cosalá, Sinaloa).
Santacruz Reports Q1 2026 Production of 1,341,499 Ounces of Silver and 21,640 Tonnes of Zinc, with Continued Recovery of Production at Bolivar Mine: Santacruz Silver Mining (Zimapán, Hidalgo).
Mammoth Receives Updated Drill Quote Illustrating Low US$1.70 per Gold Equivalent Ounce Cost to Drill Initial 500,000 Ounce Exploration Target at its Tenoriba, Gold-Silver Property, Mexico: Mammoth Resources (Tenoriba, Chihuahua).
Fresnillo plc – Annual Financial Report and Notice of AGM: Fresnillo plc (Fresnillo, Zacatecas; La Herradura, Sonora; San Julián, Chihuahua).
ON FINANCING
Vortex Metals Announces Extension of Non-Brokered Private Placement: Vortex Metals (Riqueza Marina and Zaachila, Oaxaca)
ON RESOURCES AND DEVELOPMENT
Silverco Mining Releases Robust PEA for the Cusi Mine Highlighting High-Margin, Low Capital Restart: Silverco Mining. Over 72.8 M Oz AgEq in M&I and inferred resources. (Cusi, Chihuahua).
Mercado Minerals Completes Historic Drill Core Re-Sampling and Re-Assaying Program at the Copalito Project: Mercado Minerals (Copalito, Sinaloa).
Pacifica Silver Reports Initial Phase II Drill Results at Claudia with Multiple High-Grade Intercepts at the Aguilareña Area: Pacifica Silver (Claudia, Durango).
Sonoro Files Updated Preliminary Economic Assessment for the Cerro Caliche Project : Sonoro Gold (Cerro Caliche, Sonora).
Avino Announces Inaugural Consolidated Mineral Reserves: Avino Silver & Gold Mines (Avino and La Preciosa, Durango).
ON DEALS AND CORPORATE ISSUES
Silver Dollar Adopts Semi-Annual Financial Reporting: Silver Dollar Resources (La Joya, Durango).
Silver Bull Provides Update on its Arbitration Case Against Mexico and Voting Results of the Annual Meeting of Shareholders: Silver Bull Resources (Sierra Mojada, Coahuila).
ON SOCIAL RESPONSIBILITY
No Relevant News.
On the image below: Quartz veining, pyrite and specularite turning to hematite in volcanosedimentary rocks, HQ core. Picture by Jorge Cirett.
Two companies announced results from drilling campaigns in Mexico during the week. Included in the table below are also the intervals from drilling at Cosalá by Americas Gold Silver, same that were published the previous week and omitted in the respective compilation.
Heliostar Metals presented results from six holes on the Expansion Zone below the High Grade Panel at its Ana Paula project in Guerrero, where the company has completed 28,318 m in 84 holes during its 2025-2026 drill campaign. Ana Paula is within the Guerrero Gold Belt, which is characterized by gold bearing skarns. At the project mineralization has been described to be mainly in a sulfide rich breccia, replacement bodies and minor skarn bodies, with a late epithermal overprint. The present press release states “We interpret Ana Paula to be higher in the same geological setting as its large neighbours in the Guerrero Gold Belt… Mineralization at Ana Paula occurs as disseminations or vein stockworks with variable controls including rock porosity, lithology and fault networks”.
Mithril Silver and Gold presented results from drilling on Targets 3 and 5 at its Copalquín project in Durango. High-grade gold-silver mineralization is hosted by low sulfidation epithermal mineralization in volcanic rocks of the Sierra Madre, although in narrow veins in the present release.
Americas Gold and Silver released results from resource definition and exploration drilling at its Cosalá mine in Sinaloa. The program is focusing on upgrading resource classifications on the UZ and Zone 120 deposits and exploration of the El Alacrán discovery zone.
Eight companies released copper results from drilling programs in Mexico during the first quarter of 2026. The best copper intercept is from Luca Mining’s drilling at Campo Morado in Guerrero, with 135.7 m averaging 0.88% Cu. The underground diamond drilling results are from the Largo Norte Zone, near current mining operations in this volcanogenic massive sulfides deposit (VMS).
For a short table like this one it is striking the diversity of mineralization styles present. The most common deposit type is intermediate sulfidation epithermal, of which there are three examples at the lower end: Tahuehueto, La Colorada (Zacatecas) and Alamos Silver. Mineralization at La Huerta is described as of iron-oxide-copper-gold (IOCG) affinity, Cerro Las Minitas presents skarn and carbonate replacement mineralization, whereas Adelita can be defined as a skarn distal to a porphyry copper system, and Dios Padre as a strongly zoned Au-Cu-Ag breccia related to a porphyry copper system.
Nineteen companies released silver results from twenty drilling programs in Mexico during the first quarter of 2026. The highest silver intercept is from Luca Mining’s Campo Morado project in Guerrero, with 135.7 m averaging 77 gpt Ag. 1,833 gpt Ag, including a 0.55 m subinterval just over 7,500 gpt Ag. The underground diamond drilling campaign results are from the Largo Norte Zone, near current mining operations in this volcanogenic massive sulfides deposit (VMS).
Eighty percent of the projects in this table correspond either to intermediate or low sulfidation epithermal mineralization systems. The more numerous are those of intermediate sulfidation affinity, including La Colorada (Zacatecas), Alamos Silver, Cusi, Columba, La Preciosa, San Acacio, Las Coloradas, San Agustín and Tahuehueto. Intermediate sulfidation but probably distal to a porphyry copper system is Gran Pilar, in Sonora. Cruz de Plata presents both intermediate sulfidation and low sulfidation discrete zones of mineralization. Low sulfidation epithermal systems in the list comprise Yoquivo, La Virginia, Claudia and Copalquín, while Panuco present mainly low sulfidation mineralization with some zones of intermediate sulfidation affinity.
The remaining entries are lone examples of their mineralization styles: Campo Morado, at the top of the table, is a volcanogenic massive sulfides (VMS) deposit, Cerro Las Minitas presents skarn and carbonate replacement (CRD) mineralization, Adelita is a skarn distal to a porphyry copper system and Dios Padre a strongly zoned Au-Cu-Ag breccia related to a porphyry copper system.
