Mercado Minerals Receives Drill Permit for Copalito Project

Executive Summary

• Mercado Minerals received a drill permit for its Copalito Project in Sinaloa, Mexico, enabling the start of an inaugural 3,000‑metre diamond drilling program slated for Q1 2026.
• The company has completed drone‑based LiDAR surveys and is finalising a high‑resolution UAV magnetic survey; field exploration (core re‑logging, mapping, soil sampling) is ~30 % complete.
• The upcoming drill program will test extensions of known veins, conduct infill drilling, evaluate deeper targets, and explore newly identified targets, building on 81 historic drill holes.

Key Details

• Drill Permit: Authorises use of existing and new drill pads for a 3,000‑metre diamond drill program at Copalito.
• Program Objectives:
• Test extensions of known silver‑bearing veins.
• Conduct infill drilling to increase resource confidence.
• Evaluate targets at depth.
• Drill newly identified targets from recent geophysical work.
• Historical Context: Program builds on 81 historic diamond drill holes and extensive prospecting by the previous operator.
• Geophysics Surveys:
• Drone‑based LiDAR survey completed; data now being compiled and interpreted.
• High‑resolution UAV magnetic survey in progress, expected to finish within a week.
• Field Exploration Status:
• Geological team re‑logging and re‑sampling historic drill core.
• Ongoing mapping and prospecting of previously unexplored areas.
• Approximately 30 % of surface exploration program completed.
• Soil sampling program launched to support geochemical characterization of known vein field and identify new targets.

Notable Quotes

No direct quotes were included in the release.