Mineral Resources

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 Second Week of February, 2026

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Near-surface oxidized copper mineralization

By Miguel A Heredia

During the 7th week of the year (February 9th to February 15th 2026), at least 29 press releases were announced by companies working in Mexico, and 1 news publish by the media, with eight announcing financial rounds, six disclosing deals and corporate issues, five commenting on Mexican issues, four informing on exploration results, and three communicating production results.  ON MEXICO ISSUES, Vizsla provided an update on the unfortunate situation in Concordia, Sinaloa. Marcelo Ebrard, Secretariat of Economy, announced that the Mexican government has recovered over 1,100 mining concessions that were not in compliance with the law or were being used for speculation. Pacifica Silver, Capitan Silver, Mithril, Southern Silver, and Minaurum reported the best drilling intercepts in Mexico on the second week of February, 2026. ON EXPLORATION, In Sinaloa, Mercado Minerals received drill permit for its Copalito project. In Durango, Capitan Silver reported the arrival of a second drill rig at its Cruz de Plata project, and Pacifica Silver released assay results from eleven additional drill holes completed at its Claudia project. ON MINING, Teck announced that it will release its Q4, 2025 results on February 19, 2026 (San Nicolas project, Zacatecas). GoGold reported Q4, 2025 production and financial results (Parral tailings project, Chihuahua). Agnico Eagle reported Q4 and full-year 2025 production results for its Pinos Altos operation in Chihuahua; provided production guidance for the years 2026, 2027, and 2028; and informed on the status of its San Nicolas project in Zacatecas. ON FINANCING, Kingsmen closed a bought deal private placement for gross proceeds of CAD $13M (Las Coloradas and Almoloya projects, Chihuahua). Algo Grande announced a non-brokered private placement for gross proceeds of CAD $5M (Adelita project, Sonora). Colibri closed its debenture offering units for gross proceeds of USD $115K (EP project, Sonora). Questcorp announced an upsize of its previously announced non-brokered private placement to up to CAD $3M (La Union project, Sonora). Kootenay closed its previously announced bough deal private placement for gross proceeds of CAD $18M (Columba and La Cigarra projects, Chihuahua). Avino filed a final base shelf prospectus, enabling the company to raise capital by issuing various securities such as shares, warrants, receipts, units, or debt over the next 37 months (Avino mine, Durango). Axo Copper announced that it filed a final short form prospectus in connection with its bought deal public offering of units for aggregate gross proceeds of CAD $35M (San Antonio Gold project, Son). Silver Tiger filed a final short form prospectus to raise over CAD $50M through a bought deal public offering of common shares (El Tigre project, Sonora). ON RESOURCES AND DEVELOPMENT, Southern Silver reported additional assay results from the ongoing drilling program at Puro Corazon claim in its Cerro Las Minitas project in Durango. Minaurum announced results from the first holes of its Phase II, 50,000m resource-expansion drill program at its Alamo project, Sonora. Mithril reported significant progress at its Copalquin project in Durango. Agnico Eagle provided an update on year-end 2025 mineral reserves and mineral resources at their Mexican mine sites and advanced projects. ON DEALS AND CORPORATE ISSUES, Canasil informed that it met the requirements to be listed as a TSX Venture Tier 2 company (Nora project, Durango).  Discovery Silver announced that it will hold an investor day on March 02, 2026 (Cordero project, Chihuahua). Vortex announced that it has engaged the services of Global One Media Limited to provide services for investor marketing (Zaachila and Riqueza Marina projects, Oaxaca).  Defiance Silver signed a five-year surface access agreement at its Green Earth project in Sonora, and granted incentive stock options. Apollo announced that Tom Peregoodoff has been nominated for election to the company´s Board of Directors (Cinco de Mayo project, Chihuahua). Canuc informed that it intends to consolidate its common shares (San Javier Silver-Gold project, Sonora). ON SOCIAL RESPONSIBILITY, No relevant news.

ON MEXICO ISSUES

  • Vizsla Silver Corp., provided an update on the unfortunate situation in Concordia, Sinaloa, focusing on security, operations, and support for affected families and colleagues. The company informed that five of the colleagues who were taken from the company´s project site in Concordia, have been found deceased, and five remain unaccounted for, acknowledging the ongoing uncertainty and difficulty this causes for their families, employees, and the broader community. Vizsla informed that it is actively supporting affected families with practical and financial assistance, including access to appropriate support services. Company representatives are working closely with families to address their evolving needs. The company is also providing grief counseling and flexible work arrangements for its Mexico and Canada-based teams. Vizsla also declared that work on its Panuco project is ongoing, although site operations remain suspended. Much of the near-term advancement is engineering-based and can be conducted remotely, allowing the project to progress towards key milestones. The company remains committed to responsibly developing the Panuco district over the long term and maintaining its investment in the Concordia community. Note of editor.- There have been widespread expressions of outrage and dismay from people across the country over the tragic events in Concordia, reflecting deep frustration with the escalating wave of insecurity affecting the nation. Peaceful marches are being organized in several Mexican cities to protest the growing crime, insecurity, and impunity.
  • Marcelo Ebrard, Secretariat of Economy, announced that the Mexican government has recovered over 1,100 mining concessions that were not in compliance with the law due to non-payment or were being used for speculation. This action is part of the policy implemented by President Claudia Sheinbaum to review and regulate the use of these national assets. During a joint presentation with José Fernando Aboitiz, head of the Coordination Unit for Extractive Activities at the Ministry of Economy, Marcelo Ebrard explained that the concessions, representing approximately 800,000 hectares, have been canceled. For his part, Aboitiz specified that the updated number of recovered concessions amounts to 1,126, which together cover 809,150 hectares, an area comparable to the territorial extension of the state of Querétaro. He also highlighted that within this process, nearly 20,000 hectares located in Protected Natural Areas have been recovered. Regarding the geographic distribution, the canceled concessions are concentrated mainly in states with a long mining tradition, such as Coahuila, Chihuahua, Sonora, Zacatecas, Durango, and Jalisco. On the other hand, the official specified that approximately 90% of the cancellations were made by individuals, not large companies.
  • Pacifica Silver Corp., Capitan Silver Corp., Mithril Silver & Gold Limited, Sothern Silver Exploration Corp., and Minaurum Silver Inc., reported the best drilling intercepts in Mexico on the second week of February, 2026. Details are shown in the table below:

ON EXPLORATION

  • Mercado Minerals Ltd., received exploration drill permit for its Copalito project in Sinaloa. The company is focused on preparing its inaugural 3,000m diamond drill program, which is expected to commence in Q1, 2026.
  • Capitan Silver Corp., reported the arrival of a second drill rig at its Cruz de Plata project in Durango. “The second rig is one of three core rigs that are planned to arrive at the property and will be used to test high-priority targets with the goal of extending advanced high-grade mineralized zones along the Jesus Maria Silver Trend, which also includes the Gully Fault and Peñoles Fault targets”.
  • Pacifica Silver Corp., released assay results from eleven additional drill holes completed at its Claudia project in Durango and also reported that it received new permits authorizing exploration drilling. Drilling highlights include hole 25CLAU059D on Justina vein and hanging wall stockwork with 3.53 g/t Au and 460 g/t Ag (764 g/t AgEq) over 2.1m, including 9.01 g/t Au and 1,175 g/t Ag (1,950 g/t AgEq) over 0.80m; hole 25CLAU064D on Aguilareña vein and foot wall stockwork with 1.51 g/t Au and 68 g/t Ag (198 g/t AgEq) over 6m, including 3.34 g/t Au and 211 g/t Ag (498 g/t AgEq) over 1.65m; and hole 25CLAU047D on Aguilareña vein with 1.09 g/t Au and 25 g/t Ag (118 g/t AgEq) over 4.85m, including 3.64 g/t Au and 74 g/t Ag (387 g/t AgEq) over 0.85m. “The Phase I drill program was completed at the end of December 2025 with a total of 30 holes drilled, and assay results from the first 10 holes were announced on December 15, 2025. Assays from the final nine holes are expected to be reported in the coming weeks”. The company also informed that it has received new permits authorizing exploration drilling at up to 153 additional drill sites. It will allow Pacifica to drill test several high-priority targets identified at Claudia property.

ON MINING

  • Teck Resources Limited announced that it will release its Q4, 2025 results on February 19, 2026 (San Nicolas project, Zacatecas).
  • GoGold Resources Inc., reported Q4, 2025 production and financial results (currency expressed in US dollars). The company produced 456,179 Oz AgEq consisting of 205,104 Oz Ag, 2,914 Oz Au, 215K Lb Cu, and 336K Lb Zn at cash and AISC of $21.45 and $ 28.45 per Oz Ag Eq respectively. GoGold reported revenue of $31.1M on the sale of 486,928 Oz AgEq sold at an average realized price per Oz of $63.88; cost of sale of $11.7M; operating income of $16.16M; net income of $13.3M; cash flow provided by operations of $9.7M, including free cash flow of $18.1M; and cash of $245.6M.
  • Agnico Eagle Mines Limited reported Q4 and full-year 2025 production results for its Pinos Altos operation in Chihuahua; provided production guidance for the years 2026, 2027, and 2028; and informed on the status of its San Nicolas project in Zacatecas (all currency expressed in US dollars).  At Pinos Altos, Chihuahua, the company milled during the period Q4, 2025, a total of 467K tonnes of 1.55 g/t Au to produce 22,195 Oz Au at cash cost and  production cost of $1,927 and $2,572 respectively, and sold 20,604 Oz Au. During 2025, it milled 1.72M tonnes of 1.55 g/t Au to produce 81,734 Oz Au at cash cost and production cost of $2,006 and $2,518 respectively, and sold 80,177 Oz Au. Agnico also provide production guidance for the years 2026 to 2028. It informed that in 2026, 2027, and 2028, the company expects to produce between 70K-80K Oz Au, 70K-80K Oz Au, and 85K-95K Oz Au respectively. At San Nicolas project, Zacatecas (50/50 joint venture with Teck Resources), Agnico continued progressing through its feasibility study and engineering phases.  The project is awaiting permit resolutions, with actions for permits (Environmental Impact Assessment, and Land Use Change) completed and a regulatory decision expected in the first half of 2026. Engineering work is over 30% complete, aiming for about 50% by mid-2026. The company continues to advance drilling and geological evaluation activities near the projected mine area, supporting the development plan. Overall, the project is moving forward with a focus on securing permits and completing engineering to enable potential development soon.

ON FINANCING

  • Kingsmen Resources Ltd., closed a bought deal private placement of 5,777,778 units at a price of CAD $2.25 per unit for gross proceeds of CAD $13M. Gross proceeds will be used for te exploration and advancement of the Las Coloradas and Almoloya projects in Chihuahua, as well as for working capital and general corporate purposes.
  • Algo Grande Copper Corp., announced a non-brokered private placement of up to 7,692,308 common shares at a price of CAD $0.65 per share for gross proceeds of CAD $5M. The company plans to use the gross proceeds to fund exploration activities at the Adelita project in Sonora, including a Phase II drill program and for general working capital purposes.
  • Colibri Resource Corporation closed its debenture offering units for gross proceeds of USD $115K. Each debenture unit consists of USD $1,000 principal amount 10% unsecured convertible debenture, and 5,200 common shares purchase warrants, at a rate of CAD $0.25 per common share (EP project, Sonora).
  • Questcorp Mining Inc., announced an upsize of its previously announced non-brokered private placement to up to 15,000,000 units at a price of CAD $0.20 per unit for gross proceeds of up to CAD $3M. Part of the gross proceeds will be used for exploration work at La Union project in Sonora, as well as general working capital purposes.
  • Kootenay Silver Inc., closed its previously announced bough deal private placement of 8,000,001 units at a price of CAD $2.25 per unit for gross proceeds of CAD $18M. Net proceeds will be used for the advancement of its Columba and La Cigarra projects in Chihuahua, as well as for working capital and general corporate purposes.
  • Avino Silver & Gold Mines Ltd., filed a final base shelf prospectus, dated February 12, 2026, enabling the company to raise capital by issuing various securities such as shares, warrants, receipts, units, or debt over the next 37 months, and is expected to become effective on or about February 19, 2026. This filing aligns with Canadian and US regulations, providing flexibility for future offerings, including public sales or strategic investments. The move aims to support Avino’s ongoing growth and development projects while maintaining compliance with securities laws (Avino mine, Durango).
  • Axo Copper Corp., announced that, dated January 28, 2026, it filed a final short form prospectus in connection with its bought deal public offering of units at a price of CAD $0.70 per unit for aggregate gross proceeds of CAD $35M. If this option is exercised in full, an additional CAD $5.25M in gross proceeds will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be CAD $40.25M (San Antonio Gold project, Son).
  • Silver Tiger Metals Inc., filed a final short form prospectus to raise over CAD $50M through a bought deal public offering of common shares at CAD $1.17 each one. If the over-allotment option is exercised in full, additional gross proceeds of CAD $7.5 M will be raised pursuant to the offering and the aggregate gross proceeds of the offering will be CAD $57.5M (El Tigre project, Sonora).

ON RESOURCES AND DEVELOPMENT

  • Southern Silver Exploration Corp., reported additional assay results from the ongoing drilling program at Puro Corazon claim in its Cerro Las Minitas project in Durango. Drilling highlights are shown in the table below:
  • Minaurum Silver Inc., announced results from the first holes of its Phase II, 50,000m resource-expansion drill program at its Alamo project, Sonora. Drilling highlights include hole AL25-163 on Europa Sur vein with 318 g/t Ag, 0.09 g/t Au, 0.35% Cu, 1.6% Pb, and 0.9% Zn (408 g/t AgEq) over 12.35m, including 523 g/t Ag, 0.14 g/t Au, 0.44% Cu, 2.8% Pb, and 1.4% Zn (659 g/t AgEq) over 7m, including 1.032 g/t Ag, 0.27 g/t Au, 0.69% Cu, 5.5% Pb, and 2.4% Zn (1,277 g/t AgEq) over 3.20m; and hole AL25-153 on Europa vein with 240 g/t Ag, 0.06 g/t Au, 0.7% Cu, 1.8% Pb, and 1.5% Zn (374 g/t AgEq) over 2.35m, including 487 g/t Ag, 0.16 g/t Au,  0.95% Cu, 4.2% Pb, and 2.1% Zn (714 g/t AgEq) over 0.55m.
  • Mithril Silver and Gold Limited reported significant progress at its Copalquin project in Durango, confirming a large, high-grade silver-gold mineralized zone at Target 5, which extends over approximately 1.5 km and remains open in multiple directions. The company has also begun maiden drilling at Target 3 and continues resource expansion at Target 1. Hole AP25-017 encountered the most significant drill intercept with 0.07 g/t Au and 165 g/t Ag (170 g/t AgEq) over 3.05m, including 0.11 g/t Au and 229 g/t Ag (237 g/t AgEq) over 0.85m, including 0.09 g/t Au and 265 g/t Ag (271 g/t AgEq) over 0.65m. An aerial magnetic survey is underway to aid target identification and drill planning across the district. Overall, these efforts demonstrate the potential for substantial mineral resources and rapid district-scale growth.
  • Agnico Eagle Mines Limited provided an update on year-end 2025 mineral reserves and mineral resources at their Mexican mine sites and advanced projects. Mineral Reserves and Mineral Resources as at December 31, 2025 are set out in the table below:

ON DEALS AND CORPORATE ISSUES

  • Canasil Resources Inc., informed that it met the requirements to be listed as a TSX Venture Tier 2 company, effective February 9, 2026. The Company’s listing will transfer from NEX to TSX Venture, the Company’s Tier classification will change from NEX to Tier 2, and the Filing and Service Office will change from NEX to Vancouver. The trading symbol for the Company will change from CLZ.H to CLZ. The Company is classified as a ‘Mining’ company (Nora project, Durango).
  • Discovery Silver Corp., announced that it will hold an investor day on March 02, 2026 (Cordero project, Chihuahua).
  • Vortex Metals Inc., announced that it has engaged the services of Global One Media Limited to provide services for investor marketing (Zaachila and Riqueza Marina projects, Oaxaca). 
  • Defiance Silver Corp., signed a five-year surface access agreement to conduct surface exploration, drilling, and engineering studies at its Green Earth project in Sonora. The company also granted 2,720,000 incentive stock options to certain employees, directors, and consultants, to purchase common shares of Defiance at an exercise price of CAD $0.35. It also granted 289,000 deferred share units to certain directors, 458,000 performance share units to certain employees, and 314,000 restricted share units to certain employees.
  • Apollo Silver Corp., announced that Tom Peregoodoff has been nominated for election to the company´s Board of Directors, and if elected, the Board intends to appoint Mr. Peregoodoff as Executive Chair (Cinco de Mayo project, Chihuahua).
  • Canuc Resources Corporation informed that it intends to consolidate its common shares on the basis of ten pre-consolidation common shares for one post-consolidation common share. The Company currently has 284,531,484 common shares issued and outstanding. Upon completion of the Consolidation, the Company will have approximately 28,453,148 common shares issued and outstanding (San Javier Silver-Gold project, Sonora).

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, near-surface oxidized copper mineralization (malachite) in an IOCG system in Sonora, Mexico. Photo taken by Miguel A Heredia.

The Mining and Exploration News in Mexico; Highlights on the Fourth Week of December 2025

/ Gambusino Prospector / Leave a comment

By Jorge Cirett

During the 54th week of the year (December 22th to December 28th, 2025), companies working in Mexico presented 15 press releases. There was no relevant news either on early-stage properties or mining. Two companies presented news on financing rounds, one on consolidation of shares, two on increased market activity and one on the granting of stock options. Three companies presented updates on advanced properties. Five companies informed on deals and corporate issues. ON MEXICO ISSUES, no relevant news. ON EXPLORATION, no relevant news. ON MINING, no relevant news. ON FINANCING, two companies informed on financing rounds: Apollo Silver (C$25 M) and Captain Silver (C$6 M). Chesapeake Gold and Silverco Mining informed on increased market activity. Centenario Gold consolidated its shares on a 10:1 basis. Impact Silver granted stock options. ON RESOURCES AND DEVELOPMENT, Heliostar Metals filed a PEA on Ana Paula, in Guerrero. Tocvan Ventures informed on advances on its planned pilot mine for Gran Pilar in Sonora. Mithril Silver and Gold presents an exploration update for Coplaquin, in Durango. ON DEALS AND CORPORATE ISSUES, the TSX approved the acquisition of the Bolañitos mine in Guanajuato by Guanajuato Silver Company. Royalties Inc. informed on the latest development on the Cozmin royalties legal saga. J2 Metals is optioning the Sierra Plata property in Guerrero from Impact Silver. Goldgroup Mining acquired all the shares of the company controlling the San Francisco mine in Sonora. ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUES

  • Editor’s Commentary: Mexico The Mexican mining industry is enduring challenging times, battling an in-house restrictive regulatory environment while precious metal prices break all records in the World scene. Unfortunately for Mexico, the present government has in its DNA dogmatic ideologic chains that prevent really positive changes, immersed as it is in its quest to centralize power. Good examples on this endeavour are the recently approved law on water rights, which heavily restricts the granting and exchange of extraction permits, and the intention to change the electoral law in order to make it more difficult for the opposition to challenge the MORENA party rule. The current administration regulatory environment in mining is not good, or even clear, but it has to be said that it is better than under the past administration and that the president seems to have the will to improve it. While the rule book for applying the 2023 law in mining is still being drawn, long awaited permits that allow for open pit expansions and tailings dam construction have begun to flow. Reflecting the overall global economy uncertainties and higher commodity prices, 2025 ends with an optimistic mood for the worldwide mining industry with some of that optimism spilling over into the Mexican side by means of a steady inflow of funds during the last few months to the coffers of  junior companies with properties in Mexico. Expect more drilling in 2026, and the development of some properties that have been on the shelves for some time now.

ON EXPLORATION

  • No Relevant News.

ON MINING

  • No Relevant News.

ON FINANCING

  • Apollo Silver Corp. announced a non-brokered private placement for aggregate gross proceeds of  C$25 M. Only Eric Sprott and a fund managed by Jupiter Asset Management are participating in the Offering, with each subscribing half the offering, after which the Jupiter Fund is to own 12.1% of the shares on Apollo Silver, and Eric Sprott 9.6% (Cinco de Mayo, Chihuahua).
  • Chesapeake Gold Corp. announces that at the request of CIRO, the company’s management is unaware of any material change that would account for the recent increase in market activity (Metates, Durango).
  • Captain Silver Corp. entered into a subscription agreement with Schroder Investment Management Ltd. on which Schroder has agreed to purchase on a non-brokered  private placement basis 2.96 M shares of the company, for gross proceeds of C$6 M. (Cruz de Plata, Durango).
  • Centenario Gold Corp. announced the approval by the TSX Venture Exchange of the consolidation of its issued and outstanding common shares on a 10:1 (ten to one) basis. The consolidation will become effective at the opening of the market on December 30, 2025  (Edén, Sinaloa).
  • Silverco Mining Ltd. announced that at the request of CIRO, Silverco confirms that the company’s management “is unaware of any material change in the Company’s operations that would account for the recent increase in market activity” (Cinco de Mayo, Chihuahua).
  • Impact Silver Corp. granted to directors, officers, consultants and employees of the company, stock options to purchase a total of 4.8 M common shares at a price of $0.42 per common share (Zacualpan, Estado de México).

ON RESOURCES AND DEVELOPMENT

  • Heliostar Metals Ltd. filed a preliminary economic assessment (PEA) technical report for its Ana Paula project, in Guerrero.
  • Tocvan Ventures Corp. has started sampling for pilot mine feed at the South Block of its Gran Pilar project in Sonora. The company also received local community council approval for the pilot mine development. Clearing and leveling for the heap leach pile and containment ponds has started.
  • Mithril Silver and Gold Ltd. presented an update on exploration. At Copalquin, in Durango, the company focused during 2025 on two of six main targets: Target 1 and Target 5. In 2026 Target 3 is also to be a priority, and a third drill rig is to be added. Currently there is a laboratory back log on assays for 20 holes, and samples from12 more have been dispatched in the last two weeks. A 25,000 m drill campaign is programmed for 2026. At the recently acquired 2,000 ha La Dura concession, 15 km away, LIDAR surveying has been completed and a district scale aerial magnetic survey is scheduled for January 2026. 

ON DEALS AND CORPORATE ISSUES

  • Guanajuato Silver Company Ltd.  received conditional approval from the TSX Venture Exchange to proceed with the acquisition of the Bolañitos mine, in Guanajuato, from Endeavour Silver Corp.
  • Royalties Inc. reported that Capstone Copper Corp. filed a direct Amparo with the Federal Collegiate Tribunal, granting a suspension of the sentence  on the Court decision that Capstone had improperly transferred to themselves royalties without consent, authorization or payment on the production from certain mining concessions at the Cozamin mine in Zacatecas. The company believes Capstone actions are intended to delay the outcome.
  • Impact Silver Corp. executed a letter of intent to option to J2 Metals Inc. 22 Km2 of its 211 Km2  Zacualpan District in Guerrero. J2 renamed the optioned area as Sierra Plata Silver-Antimony project, and may earn 100% interest by making staged payment to Impact by issuing C$250 K in shares within 3 days of the TSX approval, C$1.35 M in exploration expenditures over three years and staged annual payments to Impact totalling up to 6.5 M shares of J2, with up to 25% of the share value to be paid in cash or up to C$375 K in cash over three years with J2 being responsible to keep the mining concessions in good standing. Impact is to retain a 1.5% NSR royalty with J2 having the right to buy 0.75% upon payment of C$1.5 M.
  • J2 Metals Inc. entered into a 3-year option (details above) with Impact Silver Corp. to acquire the 2,200 ha Sierra Plata project in the Zacualpan District in Guerrero. Sierra Plata is located 10 Km from Taxco, hosts five past-producing silver mines, including part of the three-level San Miguel mine, with historic grab samples of up to 414 gpt Ag, 0.45 gpt Au in “quartz-hosted argentite with galena and pyrite displaying classic epithermal textures”. The project is adjacent to, and structurally continuous with, historic antimony mineralization.
  • Goldgroup Mining Inc. announced it has acquired all of the issued and outstanding A and B shares of Molimentales del Noroeste, S.A. de C.V., the company holding the San Francisco mine in Sonora,  through a “Concurso Mercantil” process (restructuring proceeding equivalent to Chapter 11 in the United States). Prior to the filing of the Plan of Arrangement, Goldgroup acquired 60.2% of the debts owed to certain major creditors for US$8.5 M of which US$7.5 M has been paid to date and the balance of US$1 M will be paid to complete the acquisition. Goldgroup has agreed to pay US$2.6 M in three equal installments in December 2026, 2027 and 2028 to the remaining creditors holding 39.8% of the recognized debt in addition to all outstanding mining concession fees, taxes, fees owed to the National Water Commission, supplier debts and other expenses  currently estimated at MX$170 M (approximately US$9.3 M).

ON SOCIAL RESPONSIBILITY

  • No Relevant News. 

On the image below: Garnets and chlorite in a volcano sedimentary rock sequence, HQ core. Picture by Jorge Cirett.