Silverco Mining Intercepts 1,280 g/t Silver over 3.35 Metres True Width at Its 100%-Owned Cusi Mine in Chihuahua, Mexico
Silverco’s Cusi infill drilling confirms the mine plan without adding scale to the C$470 million producer.
Silverco Mining Ltd. (SICO) has released assay results from 15 holes of its 30,000 m 2026 Cusi program, which includes underground infill drilling at Promontorio and surface holes at San Miguel and San Juan.
The company reported the following intercepts:
- UGCU26-09 (Promontorio): 1,222 g/t AgEq over 3.35 m true width (1,280 g/t Ag, 0.42 g/t Au, 1.28% Pb, 1.49% Zn), including 5,392 g/t AgEq over 0.65 mTW; and a separate upper interval of 1,096 g/t AgEq over 1.28 mTW (incl. 3,574 g/t AgEq over 0.37 mTW).
- UGCU26-10 (Promontorio): 737 g/t AgEq over 4.18 mTW (632 g/t Ag, 1.17 g/t Au, 4.79% Pb, 1.26% Zn), including 1,198 g/t AgEq over 1.79 mTW.
- UGCU26-14 (Promontorio): 616 g/t AgEq over 1.55 mTW (597 g/t Ag, 1.35 g/t Au).
- CU-26-80 (San Miguel): 306 g/t AgEq over 5.36 mTW (330 g/t Ag).
- CU-26-81 (San Juan): 982 g/t AgEq over 1.38 mTW (1,075 g/t Ag).
- Secondary holes: UGCU26-11 (290 g/t AgEq / 1.88 mTW; 250 g/t AgEq / 1.76 mTW), UGCU26-15 (602 g/t AgEq / 1.50 mTW), CU-26-79 (364 g/t AgEq / 2.74 mTW at San Juan), CU-26-83 (516 g/t AgEq / 1.19 mTW, but only 75 g/t Ag — carried by 10.49% Pb and 10.70% Zn).
Silverco stated that 21 holes were drilled in total, with five (CU-26-84 through 88) returning non-significant values. The best hole is located approximately 20 m south of UGCU26-08, which was reported on July 7, 2026.
Silverco Mining Ltd. (SICO) has transitioned to a producer status, with its La Negra operation generating revenue since May 2026 and a second mine at Cusi scheduled to restart in the fourth quarter of 2026. For a producing entity, drill results are significant primarily when they impact reserves, mine life, or near-term cash flow, rather than based solely on grade metrics.
The recent findings de-risk and potentially enhance the initial years of the Cusi mine plan by lowering initial development costs and pulling tonnage forward, which will feed into the first half of 2027 Mineral Resource Estimate (MRE) update. The results do not add a new zone, change the order of magnitude of the 73 moz AgEq Cusi resource, or alter the Preliminary Economic Assessment’s (PEA) $104 million/$312 million net present value (NPV) framework.
The market has already reviewed three rounds of comparable high-grade results from Promontorio on June 16, July 7, and today. The stock has drifted from C$14.65 in February and C$10.86 in late August to C$8.56, indicating it is not priced for a repetition of these results. The findings confirm, at roughly the anchor grade, a vein that the market already recognizes as high-grade.
Ultimately, the results are value-additive to mine planning but do not deliver a resource, reserve, mine-life, or cash-flow milestone.
Silverco Mining Ltd. (SICO) owns two 100%-held underground silver assets in Mexico: the producing La Negra Mine in Querétaro and the past-producing Cusi Silver Complex in Chihuahua, which is scheduled to restart in Q4 2026.
The Cusi Silver Complex covers 11,665 hectares and features a 1,200 tpd mill. It holds a Measured and Indicated resource of 41.2 moz AgEq at 262 g/t AgEq, plus 31.8 moz AgEq Inferred at a cutoff of 120 g/t AgEq. A Preliminary Economic Assessment (PEA) dated April 2026 projects production of approximately 2.5 moz AgEq per year with an all-in sustaining cost (AISC) of US$26.75/oz. The project requires US$19.2M in upfront capital and yields a US$104.1M NPV at $44.58/oz Ag, rising to US$312.2M at $75/oz. The company currently has no mineral reserves for Cusi.
La Negra holds an Indicated resource of 98.2 moz AgEq at 201 g/t AgEq, plus 12.6 moz AgEq Inferred. A PEA from September 2026 outlines an 8.2-year mine life producing 4.1 moz AgEq per year, resulting in a US$329M NPV and 131% IRR at $50/oz Ag.
In prior-period context, not disclosed in today’s release, Silverco reported Q2 2026 revenue of C$10.39M, marking its first revenue generated from La Negra. The company posted a net loss of C$6.10M, held C$53.6M in cash, and carried total debt of approximately C$13.4M, alongside a disclosed material going-concern uncertainty.