Silverco Mining (SICO.V) released an updated resource estimate on its flagship Cusi silver project in Mexico’s Chihuahua state. The measured and indicated resource currently stands at 4.9 million tonnes at 262 g/t silver-equivalent for a total of 41.2 million ounces of silver-equivalent. The resource also contains an additional 4.1 million tonnes of rock in the inferred resource category at an average grade of 243 g/t silver-equivalent, for an additional 31.8 million ounces silver-equivalent. This means the resource now contains 73 million ounces silver-equivalent across all resource categories.
It’s interesting to see that the updated resource saw a 22% grade increase in the measured and indicated categories. And as you can see in the table above, about 80% of the silver-equivalent resource actually consists of silver, with an additional 24,000 ounces of gold, 78 million pounds of lead and 93 million pounds of zinc as potential by-product credits. And as the mineralized system remains open in multiple directions, there appears to be plenty of upside potential to further grow the resource.
The stock had a good run earlier this week, but this resulted in a speeding ticket, as trading was halted by the regulator. After the halt was lifted, the share price lost a bit of its ground but the company still has a market capitalization of in excess of C$300M.
Disclosure: The author has no position in Silverco Mining. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
