Northwire Canada EditionFriday, July 10, 2026
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TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0% TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0%
Resource Estimate Routine +

Zacatecas Silver Announces 21% Increase in High-Grade Heap-Leach Updated Gold Mineral Resource at the Esperanza Gold Project to 1.15 Moz AuEq from 45.4 Mt at 0.79 g/t - Grades Above Global Heap-Leach Average & Highest Grades at Surface

Zacatecas faces stock declines amid permitting challenges in Mexico despite identifying resource upside at its Esperanza project.

By The Northwire Desk — AI Analysis Jun 22, 2026 · 06:30 ZAC · 0.085 Zacatecas Silver Corp.
Executive Summary
  • Zacatecas Silver Corp. announced an updated Mineral Resource Estimate (MRE) for its Esperanza Gold Project in Mexico, prepared by P&E Mining Consultants Inc.
  • The Measured & Indicated (M&I) resource reflects a 21% increase in AuEq ounces and a 49% increase in tonnes compared to the December 2022 estimate.
  • Updated M&I Resource: 45.4 Mt @ 0.79 g/t AuEq (0.76 g/t Au, 8.5 g/t Ag) for 1.15 Moz AuEq (1.11 Moz Au, 12.37 Moz Ag).
  • The deposit is optimized for a conventional, low-capex open-pit heap-leach operation with a low cut-off grade of 0.13 g/t AuEq.
  • Metal price assumptions used were $3,400/oz for gold and $40/oz for silver.
  • The company has engaged P&E Mining Consultants to commence a Preliminary Economic Assessment (PEA) to quantify the development pathway.
  • Historical progression shows the company secured land access, drill permits, and completed a 2,027m drill program at El Cristo in early 2026, followed by the acquisition of a multi-asset portfolio from Heliostar Metals in June 2026.
Material Impact
  • The resource update is a positive but expected development, aligning with management's stated goal to re-model resources in response to higher gold prices.
  • The 21% increase in tonnage and ounces is incremental and does not fundamentally alter the project's status or immediate development timeline.
  • The primary catalyst remains the upcoming PEA, which will determine the economic viability and capital requirements.
  • The stock has declined from $0.17 to $0.09 over the past six months, indicating the market is pricing in regulatory risks and execution delays rather than rewarding incremental resource growth.
  • The news is Routine - Positive as it confirms project quality but does not provide new market-moving information or resolve the permitting stalemate at Esperanza.
ZAC · Price
Company Overview
  • Zacatecas Silver Corp. is a Canadian exploration company focused on precious metals in Mexico.
  • Flagship projects include the Esperanza Gold Project (oxide heap-leach gold) and the Zacatecas Silver Project (El Cristo and Panuco vein systems).
  • Esperanza is positioned as a low-capex, high-grade oxide heap-leach asset, but faces regulatory headwinds in Mexico regarding open-pit mining.
  • The company is actively exploring its portfolio, including the newly acquired Heliostar assets (Oso Negro, Cumaro, La Lola, Ejutla).
Read the original news release →

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