Guanajuato Silver posts El Cubo drill results, Mexico
Guanajuato Silver Company Ltd. [TSXV: GSVR; OTCQX: GSVRF], a growing Mexican-based precious metals producer, provided an update on the 2025 exploration and development drilling program at the wholly owned El Cubo Mines Complex in Guanajuato, Mexico.
Highlights: Grades of over two kilograms/tonne silver-equivalent (AgEq) drilled at the Packman Vein in the Villalpando area near the company’s property boundary (PAC25-03: 26.7 g/t gold and 321 g/t silver for 2591 g/t AgEq over 0.42 metres).
Another new vein discovery near the San Luis Vein also returned grades of over two kilograms/tonne silver-equivalent (SL25-10: 13.02 g/t gold and 970 g/t silver for 2077 g/t AgEq over 0.18 metres).
All references in this news release to silver equivalent or AgEq have been calculated using 85:1 silver/gold (Ag/Au). For 2025, GSilver’s minimum mining width is 0.80 metres, and the minimum mining cut-off grade is 150 g/t.
James Anderson, Chairman and CEO, said, “El Cubo has been producing high-grade silver and gold for over 120 years. We are encouraged by the latest round of drill results and look forward to developing these zones. Of particular interest, drilling in the San Luis area has generated the potential for yet another new high-grade vein discovery; it is compelling discoveries like these that have defined the Guanajuato Silver Mining District for more than four centuries.”
The east to west trending San Luis Vein has quickly taken on significant importance at the El Cubo Mine. In 2025, San Luis has contributed over 8,900 tonnes of mineralized material to El Cubo’s production profile, and the most recent drilling provides better certainty for future volume and grade prediction.
Important intercepts include SL25-02 which returned 1.12 g/t gold and 330 g/t silver over 0.52 metres, and SL25-04 which returned 1.27 g/t gold and 248 g/t silver over 0.72 metres. The relatively higher gold content in the San Luis Vein will continue to make this area of the mine a primary focus for continued exploration and potential expansion.
The Dolores Vein runs NNW, parallel to the Villalpando vein; together these two mineralized systems are the most prolific vein systems in the eastern half of the Guanajuato mining district. Drilling into the Dolores Vein via a single drillhole (DOL25-01) confirmed both the continuity of the mineralized system at depth and evidence of a lateral extension; DOL25-01 returned 0.60 g/t gold and 163 g/t silver over 0.69 metres. The Company will now focus on servicing and developing this area in advance of exploitation.
The northwest-southeast running Packman Vein, which is interpreted as a loop extending from the Dolores Vein, represents a potentially new mining zone. The Packman Vein is located near to the San Luis Vein and is characterized as a narrow structure with high gold and silver content; the system rests in close proximity to the Company’s property boundary with Fresnillo PLC, the world’s largest silver producer. Notable intercepts include PAC25-01 which returned 1.8 g/t gold and 161 g/t silver over 1.05 metres and PAC25-03 which returned a bonanza grade of 26.7 g/t gold and 321 g/t silver over 0.42 metres.
Drilling through the Packman Vein has also discovered the presence of two additional new veins. One of these veins sits in proximity to the Dolores system; this new vein was encountered through the drilling of the footwall structures of the San Luis and Packman veins; all four of the drillholes into the Packman Vein encountered this new structure with the most notable intercept being PAC25-04 which returned 0.62 g/t gold and 381 g/t silver over 0.48 metres.
A second and more distant new vein structure was discovered through drilling at San Luis; SL25-10 returned 13.02 g/t gold and 970 g/t silver for 2077 g/t AgEq over 0.18 metres. This new area holds potential for additional expansion and the company intends it to be the focus of additional future drilling this year.
Villalpando Vein: Three drillholes in Villalpando have returned intercepts that confirm mineralized structures and will provide the basis for advancing development at levels six and seven. The most notable intercept was VPO25-04 which returned 4.79 g/t gold and 15 g/t silver over 0.48 metres. The Villalpando Vein and associated loops are currently the primary source of new mineralized material being processed at El Cubo.
GSilver is a precious metals producer engaged in reactivating past producing silver and gold mines in central Mexico. The company produces silver and gold concentrates from the El Cubo Mine, Valenciana Mines Complex, and the San Ignacio Mine; all three mines are located within the state of Guanajuato, which has an established 480-year mining history.
Additionally, the company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango.
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