Drill Results
Mercado Minerals Intersects 1.20 Metres of 1120 g/t Silver Equivalent Within 3.50 Metres of 686 g/t Silver Equivalent at El Agua Vein Copalito Project
Bonanza-grade El Agua vein discovery extends district-scale potential in Mexico’s prolific San Dimas belt as drill bit proves up multiple high-grade silver-gold shoots.
Executive Summary
- Mercado Minerals reported assay results from its ongoing 3,000-metre diamond drill program at the Copalito Project (Sinaloa, Mexico).
- At the El Agua vein, hole COP-26-012 returned a headline intercept of 1.20 metres grading 1,120 g/t silver-equivalent (AgEq) (34 g/t Ag, 3.40 g/t Au, 19.00% Pb, 21.00% Zn) within a broader 3.50 metres of 686 g/t AgEq.
- Multiple holes at the 5 Señores vein also returned strong widths and grades, including:
- 24.20 m at 154 g/t AgEq (114 g/t Ag, 0.50 g/t Au), with high‑grade sub‑intervals of 7.60 m at 434 g/t AgEq and 2.10 m at 714 g/t AgEq.
- 18.05 m at 106 g/t AgEq, 1.00 m at 463 g/t AgEq, and several other mineralized intercepts.
- Drilling at 5 Señores is complete, extending the productive strike length to ~800 metres and vertical depth to ~125 metres; a fault‑offset segment with 250 m strike length has been drilled and assays are pending.
- El Agua vein mineralization remains open in all directions; the company is now drilling the El Pilar vein and first‑ever tests of newly discovered Pilar Sur and El Medio veins.
- Surface work continues to generate additional vein targets and soil anomalies.
Material Impact
- The El Agua intercepts represent a significant new discovery with exceptional grades (1.2 m of 1.1 kg/t AgEq, over 30 oz/ton AgEq) that substantially exceed the typical tenor reported from prior drilling on the property.
- The 5 Señores results continue to confirm broad zones of moderate to high-grade mineralization, demonstrating both grade and continuity over an 800 m strike.
- Grade and width are the key value drivers for an early‑stage epithermal vein explorer; today’s results materially improve the project’s economic potential and could attract renewed market attention.
- The company is a micro‑cap (~C$7.7M market cap) explorer with low share price ($0.11); a discovery of this nature has the potential to re‑rate the stock meaningfully if follow‑up drilling demonstrates continuity.
- However, only a few holes have been drilled at El Agua; true width is not yet established, and drilling is still at a very early stage. Capital markets may wait for additional results before assigning full value.
MERC · Price
Company Overview
- Mercado Minerals is a junior mineral exploration company focused on silver‑gold projects in Mexico. Its flagship is the Copalito Project in Sinaloa, a 2,870‑hectare epithermal vein system within the Sierra Madre Occidental belt.
- It acquired Copalito and the Zamora property via the Concordia Silver acquisition (closed October 2025). More recently (June 2026), it announced LOIs to acquire the San Rafael and La California projects in the historic San Dimas district, aiming to build a district‑scale portfolio.
- The company has a market cap of ~C$7.7M, is pre‑revenue, and generates no operating income. It is purely an exploration play with high risk/reward.
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Jun 02, 2026 · 07:32