Mercado Minerals receives drill permit for Copalito

Executive Summary

• Mercado Minerals Ltd. has received an exploration drill permit for its Copalito project in Sinaloa, Mexico, authorizing the use of existing and newly constructed drill pads.
• The company is preparing for its inaugural 3,000-metre diamond drill program, expected to commence in the first quarter of the year, aimed at testing vein extensions, infill drilling, and evaluating new targets.
• Significant progress has been made in geophysical and field exploration, including the completion of a drone-based lidar survey, an ongoing UAV magnetic survey, and the resampling of historic core.

Key Details

• Drilling Permit: Received for the Copalito project in Sinaloa, Mexico.
• Drill Program Scope: Inaugural 3,000-metre diamond drill program.
• Drill Objectives: Test extensions of known veins, conduct infill drilling, evaluate targets at depth, and drill newly identified targets.
• Historical Context: Program builds on 81 historical diamond drill holes and extensive prospecting by the previous operator.
• Geophysics - Lidar: Drone-based lidar survey completed; data compilation and interpretation underway.
• Geophysics - Magnetic: High-resolution UAV magnetic survey in progress, expected to complete within the coming week.
• Field Exploration: Geological team advancing fieldwork including relogging and resampling selected historic drill core.
• Mapping & Prospecting: Actively mapping and prospecting previously unexplored areas; approximately 30% of the surface exploration program is complete.
• Geochemistry: Soil sampling program commenced to support geochemical characterization of the known mineralized vein field and identify new drill targets.