Three companies announced results from drilling campaigns in Mexico during the week.
Americas Gold and Silver presented results from its ongoing resource conversion drilling program at the Cosalá Complex in Sinaloa. Drilling was conducted in Q4 2025 through Q1 2026 at the San Rafael Upper, 120 Upper and 120 Lower zones. Mineralization at the project presents skarn and carbonate replacement (CRD) characteristics, related to at least three intrusive phases.
Advance Metals released results from the first hole in their maiden drilling campaign at its Gavilanes project in Durango. The company’s first hole was drilled to a depth of 276 m and intersected a broad zone of silver mineralization approximately 80 m down dip to the west of a high-grade zone previously defined in an historic hole. Mineralization at Gavilanes is of intermediate sulfidation epithermal characteristics.
Tocvan Ventures reported results from the exploration drilling campaign at its Gran Pilar project in Sonora. Significant gold results were obtained in three new areas within the South Block: El Mezquite Trend South, Mag High Target and New Eastern Trend. Mineralization at the project seems to be of epithermal characteristics, linked to the outer parts of a porphyry copper system.
During the 22nd week of the year (May 25th to May 31st, 2026), companies working in Mexico released 21 press releases. One company informed on early-stage property work while six companies presented quarterly reports. One company closed a credit facility, one other secured a working capital facility with the Mexican government, two companies increased their financing rounds, another company declared a dividend, while one more granted stock options. Two companies released drill results on their advanced projects. Two companies announced results of their AGM’s, one changed auditor, another one settled on gold delivery obligations and one other is to report semi-annually. ON MEXICO ISSUES, some paperwork for the mining industry has been simplified. EXPLORATION, in Querétaro, Starcore International Mines reached a community agreement at La Tortilla. ON MINING,Orogen Royalty, Guanajuato Silver Company, Empress Royalty, Minera Alamos, Sailfish Royalty and Silverco Mining reported quarterly results. ON FINANCING. Minera Alamos closed a US$75 M revolving credit facility and granted stock options. Vizsla Silver secured a working capital agreement with the government for the Pánuco project in Sinaloa. Southern Empire Resources and Sonoro Gold increased their private placements to C$1.75 M and C$15 M respectively, Alamos Gold declared a quarterly dividend, Sonoro Gold. ON RESOURCES AND DEVELOPMENT, Axo Metals released drilling results from the San Antonio project in Sonora. Minaurum Silver presented results from expansion drilling at the Alamos Silver project in Sonora. ON DEALS AND CORPORATE ISSUES, Americas Gold and Silver settled an agreement on a fixed gold delivery obligation. Sonoro Gold changed auditor. Alamos Gold and Elemental Royalty announced results from their respective AGM’s. Silver Viper adopted semi-annual reporting ON SOCIAL RESPONSIBILITY, Torex Gold released its “2025 Responsible Gold Mining Report” (Morelos Complex, Guerrero). Pan American Silver released its “2025 Sutainability Report” (La Colorada, Zacatecas).
ON MEXICO ISSUES
Elimina Federación un trámite y simplifica 42 para inversiones mineras: News on Mexico
ON EXPLORATION
Starcore Reaches Communities Agreement for La Tortilla Project: Starcore International Mines (San Martín, Querétaro)
ON MINING
Orogen Reports Strong Q1 2026 Results with 144% Growth in Net Income: Orogen Royalties (Ermitaño, Sonora)
Guanajuato Silver Delivers Record Revenue and Record Net Income in Q1, 2026: Guanajuato Silver Company (El Cubo, Guanajuato)
Minera Alamos Reports First Quarter 2026 Results, Setting Quarterly Records for Revenue of US$39.2 Million, Earnings of US$10.9 Million, and EBITDA of US$15.3 Million: Minera Alamos (Cerro de Oro, Zacatecas)
Silverco Mining Announces Filing of Q1 2026 Interim Financial Statements and MD&A: Silverco Mining (La Negra, Querétaro)
ON FINANCING
Minera Alamos Closes US$75 Million Revolving Credit Facility with Scotiabank and National Bank, Strengthening Balance Sheet for Organic Growth Profile: Minera Alamos (Santana, Sonora)
Vizsla Silver Secures Working Capital Facility with Mexican Government Financial Institution for Panuco Vizsla Silver (Pánuco, Sinaloa)
Alamos Gold Declares Quarterly Dividend and Announces Share Repurchases Under Normal Course Issuer Bid: Alamos Gold (Mulatos, Sonora)
Sonoro Gold Announces Increase in Private Placement to $15 Million Sonoro Gold (Cerro Caliche, Sonora)
Minera Alamos Announces Granting of Stock Options: Minera Alamos (Cerro de Oro, Zacatecas)
ON RESOURCES AND DEVELOPMENT
Axo Metals Intercepts 23.6 Metres of 2.13 g/t from Surface at the San Antonio Project: Axo Metals (San Antonio, Sonora)
Minaurum Drills High-Grade Silver on the Europa Sur Vein Zone at the Alamos Silver Project: 3.20 m of 882 g/t AgEq and 6.20 m of 374 g/t AgEq Minaurum Silver (Alamos Silver, Sonora)
ON DEALS AND CORPORATE ISSUES
Americas Gold and Silver Announces Agreement with Affiliate of Royal Gold to Settle Fixed Gold Delivery Obligation: Americas Gold and Silver (Cosalá, Sinaloa)
Two companies announced results from drilling campaigns in Mexico during the week, including the best silver intercept since 2023.
GR Silver announced results from one hole in the SE area of the San Marcial deposit, within its Plomosas project in Sinaloa. The 45.10 m averaging 1,623 gpt Ag is the best silver intersect since the one reported in 2023 from Los Ricos South project in Jalisco. The intercept consists of multi-stage hydrothermal breccias, subsequently overprinted by polymetallic silver-lead-zinc events. Mineralization at the project presents intermediate sulfidation characteristics.
Oroco Resource presented results from three holes on the south zone of its Santo Tomás porphyry copper deposit in northern Sinaloa. The drilling campaign is designed primarily to convert inferred resources to the indicated category. So far in the year this is the first reported drilling on a porphyry copper deposit in Mexico, perhaps reflecting the near absence in the country of juniors targeting this kind of deposit.
