Northwire Canada EditionThursday, November 12, 2026
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Gold 3,885.30 −2.9% Silver 50.06 −3.7% Copper 6.19 −1.5% Oil 88.70 +2.5% Palladium 991.50 −5.2% DPM 50.56 −4.2% ARIS 21.08 −4.7% AUEN 0.170 +6.2% FCI 0.540 −1.8% SLI 1.98 −5.3% COCO 0.350 −4.1% BCU 0.060 +0.0% BGF 0.025 +0.0% TDG 0.710 +44.9% PRU 6.04 −4.1% NGEX 21.01 −5.2% TWO 0.340 −8.1% BIG 1.03 +8.4% VCG 1.06 −3.6% SCD 0.145 +0.0% GAL 0.370 −0.7% Gold 3,885.30 −2.9% Silver 50.06 −3.7% Copper 6.19 −1.5% Oil 88.70 +2.5% Palladium 991.50 −5.2% DPM 50.56 −4.2% ARIS 21.08 −4.7% AUEN 0.170 +6.2% FCI 0.540 −1.8% SLI 1.98 −5.3% COCO 0.350 −4.1% BCU 0.060 +0.0% BGF 0.025 +0.0% TDG 0.710 +44.9% PRU 6.04 −4.1% NGEX 21.01 −5.2% TWO 0.340 −8.1% BIG 1.03 +8.4% VCG 1.06 −3.6% SCD 0.145 +0.0% GAL 0.370 −0.7%
Drill Results

Silver X Defines High-Grade Mineralization at Red Silver: Underground Channel Sampling Includes Averages of 735 g/t Ag Over 65 metres and 649 g/t Ag Over 40 metres. Announces 1,200-Metre Drill Program to Test Continuity

High-Grade Discovery at Red Silver Validates District Potential as Operational Ramp-up Collides with Heavy Capex Requirements.

By The Northwire Desk — AI Analysis Jan 13, 2026 · 07:35 AGX · 1.01 Silver X Mining Corp.
Executive Summary

On January 13, 2026, Silver X announced high-grade silver results from underground channel sampling at the Red Silver prospect within the Nueva Recuperada property in Peru. Key results include: - Silvia Vein: 735 g/t Ag over 65 metres and 649 g/t Ag over 40 metres. - Rossana Vein: 497 g/t Ag over 35 metres and 396 g/t Ag over 45 metres. The company is initiating a 1,200-metre, 15-hole underground diamond drill program to test the vertical and lateral continuity of these mineralized shoots. This follows a January 8, 2026, update reporting Q4 2025 production growth, with processed tonnage up 24% and silver equivalent (AgEq) production up 17% quarter-over-quarter.

Material Impact

The news is Material - Positive for three reasons: - Grade and Continuity: Sampling 735 g/t Ag over a 65-metre strike length is exceptional for a narrow-vein system and suggests high-grade "sweet spots" that can significantly boost the head grade of the Recuperada plant. - Resource Validation: These results support the assumptions made in the September 2024 PEA, which envisions a district-scale operation. Red Silver is a satellite target; proving it can provide high-grade feed increases confidence in the 14-year mine life. - Operational Momentum: Coming just five days after a positive production update, this news suggests the company is successfully transitioning from a "survival" mode (seen in early 2025) to an "aggressive exploration" mode.

However, from a risk-averse perspective, channel samples are not drill results. They are surface/face expressions and do not guarantee volume. The 1,200-metre drill program is the necessary next step to prove these grades extend to depth.

AGX · Price
Company Overview

Silver X is a silver-focused producer in Central Peru. Its flagship is the 20,795-hectare Nueva Recuperada Silver District. - Current Status: Producing from the Tangana Mining Unit (approx. 600-720 tpd capacity). - Strategy: The "District Scale" play. They aim to consolidate numerous historic mines (Plata, Red Silver, Tangana) into a centralized processing hub. - PEA Target: 3,000 tpd processing capacity producing >6 Moz AgEq annually with a 14-year mine life and $440M after-tax NPV.

Read the original news release →

More from Silver X Mining Corp.

Oct 30, 2026 · 07:20

Silver X advances resource de-risking while delaying plant ramp-up to the first half of 2027.

Resource Estimate Oct 08, 2026 · 07:35

Silver X delays its 1,000 tpd target to the fourth quarter of 2026 after third-quarter silver equivalent production fell 20% quarter-on-quarter.

Production / Operations Sep 22, 2026 · 07:30

Silver X increased measured and indicated resources by 173% while advancing a de-risked preliminary economic assessment for its project.

Resource Estimate Aug 06, 2026 · 07:35

Silver X reported record second-quarter volume alongside a lower average integrated sustaining cost, highlighting the onset of operating leverage.

Earnings Jul 22, 2026 · 07:35

Silver X expands its Red Silver drill program fivefold with high-grade channel sampling results.

Drill Results Jul 09, 2026 · 07:35

Silver X’s plant hits 750 tpd nameplate capacity, driving a 57% quarter-on-quarter surge in silver equivalent output alongside a 55% increase in gold production.

Production / Operations