Silverco Begins Exploration Drilling at La Negra Project
Silverco begins drilling at La Negra and plans to restart Cusi, leveraging its cash-rich position to execute its development strategy.
Silverco Mining Ltd. has mobilized surface and underground exploration rigs at its 100% owned La Negra Project in Querétaro, Mexico. The 2026 exploration program targets 15,000 metres, focusing on testing high-grade silver zones near existing underground workings to potentially feed into the mine plan early in mine life. The company expects initial results from this program, an updated mineral resource estimate (MRE), and a life-of-mine plan in H2 2026.
This activity runs parallel to an ongoing 30,000-metre drill program at the Cusi Silver Complex and the planned restart of Cusi in late Q4 2026. Historical high-grade results at La Negra include intervals like 2.0m at 672.0 g/t Ag and 3.5m at 640.7 g/t Ag, underscoring the high-grade nature of the skarn deposit. QA/QC protocols for the 2026 program will follow industry standards, addressing prior limitations where historical results were not independently re-sampled.
Silverco Mining Ltd. (SICO) announced an operational milestone that aligns with its previously disclosed 2026 exploration plans. The update confirms that management is executing its dual-asset strategy, which includes expanding production at La Negra and restarting Cusi, without requiring additional capital.
The company’s cash position of $56.2 million is sufficient to fund the planned 45,000+ metres of drilling as well as the capital requirements for the Cusi restart. The announcement contains no new surprises or material deviations from prior guidance, as the market had already priced in the La Negra acquisition and the 2026 drilling targets.
Silverco Mining Ltd. (SICO) is a Canadian junior transitioning from a developer to a producer following its October 2025 reverse takeover and the May 2026 acquisition of Nuevo Silver. The company’s flagship assets include the La Negra Mine in Querétaro, Mexico, a producing silver-lead-zinc-copper skarn deposit currently operating at 55% capacity with a 2,500 tpd mill, where the focus is on throughput expansion and exploration. Additionally, Silverco owns the Cusi Project in Chihuahua, Mexico, a fully permitted underground silver-lead-zinc-gold project targeting a late 2026 restart. A Preliminary Economic Assessment highlights low upfront capital of $19.2M and rapid payback for the Cusi Project. The company’s strategic vision is to become a 10 million ounce silver equivalent producer within three years.