Silverco Mining (SICOF) reported a positive independent Preliminary Economic Assessment for its 100%-owned La Negra Mine in Querétaro, Mexico, outlining an 8.2-year mine life and base case after-tax NPV (5%) of $329 million at $50/oz silver.
The study forecasts average annual production of 4.1 Moz AgEq (3.6 Moz payable) at steady-state throughput of 2,500 tpd from H2 2027, with life-of-mine site AISC of $24.86/AgEq oz payable and cash costs of $15.70/AgEq oz payable. Initial capital is estimated at $20.9 million, giving a 15.7x after-tax NPV-to-initial-capital ratio, with sustaining capital (including closure) of $82.0 million. After-tax IRR is 131% and payback is 2.0 years. The new MRE under NI 43‑101 shows 15.23 Mt Indicated at 201 g/t AgEq for 98.2 Moz AgEq and 2.26 Mt Inferred at 174 g/t AgEq for 12.6 Moz AgEq.
Silverco Mining (TSXV: SICO, OTCQB: SICOF) has granted 144,792 incentive stock options and 207,355 restricted share units under its Omnibus Equity Incentive Compensation Plan. The grants comprise 42,855 RSUs to directors, 25,000 RSUs and 144,792 options to officers, and 139,500 RSUs to employees and consultants.
The options are exercisable at C$10.50 per share for five years. Directors’ RSUs vest after one year, while the remaining RSUs and options vest in three equal annual tranches. According to Silverco Mining, the awards are subject to the TSX Venture Exchange policies and existing plan terms.
Silverco Mining (OTCQB: SICOF, TSXV: SICO) filed its unaudited Q2 2026 financial statements and MD&A, highlighting the closing of the Nuevo Silver acquisition and integration of the La Negra Mine in Mexico. The transaction closed on May 19, 2026 through the issuance of 16,802,283 common shares valued at $164,662,373, giving Silverco 100% ownership of La Negra.
During the 43‑day post‑acquisition period, La Negra generated revenue of $10,387,168 and mine operating earnings of $374,984, with production of 158,259 silver equivalent ounces. Silverco reported a quarterly net loss of $6,102,105, including $2,372,538 of provisional pricing losses, $2,775,889 of G&A and $503,789 of transaction expenses, and ended June 30, 2026 with cash of $53,619,837. Operationally, the company advanced the Cusi restart, launched exploration and optimization programs at La Negra, and announced a CFO transition effective September 30, 2026 alongside the appointment of a new Vice President, Exploration.
Silverco Mining (TSXV: SICO, OTCQB: SICOF) provided a detailed operations update for its 100%-owned La Negra Mine in Querétaro, Mexico, following the asset’s acquisition on May 19, 2026. CEO Mark Ayranto said Silverco expects La Negra to reach its 2,500 tonne-per-day nameplate capacity in H1 2027, supported by a renewed underground fleet and a transition to filtered tailings.
Since acquisition, Silverco has appointed a new General Manager for operational improvements, ordered underground equipment from Epiroc for delivery in Q4 2026–Q1 2027, and advanced a tailings filtration project targeted for completion by the end of Q1 2027. A 15,000-metre exploration drilling program is underway, with about 1,000 metres completed and first assays expected in late Q3 2026. SGS has been engaged to deliver an updated mineral resource estimate and initial PEA in late Q3 2026, while Knight Piésold is onboarding as Engineer of Record for the tailings facility. Silverco has also implemented campaign milling and a revised grade control program to enhance efficiency and reconciliation.
Silverco Mining (OTCQB: SICOF, TSXV: SICO) appointed Dr. Jesus Velador as Vice President, Exploration, effective September 1, 2026. The company highlights his 25+ years of experience in epithermal and hydrothermal deposits, including leadership roles at Vizsla Silver, Outcrop Silver and Gold, Fortuna Silver Mines, First Majestic Silver, and others.
According to Silverco, Dr. Velador’s background in Mexican districts similar to the company’s Cusi and La Negra projects supports its strategy to grow a multi-asset silver portfolio in Mexico and advance toward its goal of becoming a 10-million-ounce-per-year silver equivalent producer within three years.
Silverco Mining (OTCQB: SICOF) reported that restart activities at its 100%-owned Cusi silver project in Chihuahua, Mexico are approximately 68% complete, remaining on budget with upfront capital of US$19.2 million and targeting first concentrate production in Q4 2026.
Underground contractors are active at Promontorio and San Miguel, the first development blast on the Promontorio ramp is complete, primary ventilation fans are on site, and refurbishment of the Mal Paso plant is over 65% complete, including an 89% complete crushing circuit. The company reports zero lost time injuries across 192,900 exposure hours in 2026. A 2026 PEA outlines average annual production of ~2.5 Moz AgEq (2028–2032) at site AISC of US$26.75/oz AgEq, with after-tax NPV of US$104.1M and IRR of 94.8% at US$44.58/oz silver, rising to NPV US$312.2M and IRR 186.9% at US$75.00/oz.
Silverco Mining (TSXV:SICO, OTC:SICOF) has mobilized surface and underground drills for its first exploration program at the 100% owned La Negra silver-rich polymetallic project in Querétaro, Mexico. The 2026 program plans 15,000 metres of drilling focused on high-grade silver targets near existing underground mine workings.
Priority areas include the Valenciana, Maravillas, Valeria and Blanca zones, selected for strong historical results, proximity to infrastructure and potential to contribute high-grade material to future mine plans. According to Silverco, La Negra’s database exceeds 2,850 drill holes and 230,000 metres, with many zones untested for over a decade and mineralization remaining open. Work in H1 2026 included database validation, new underground mapping, 3D geological modelling, and establishing QA/QC protocols. An updated mineral resource estimate and a life-of-mine plan for La Negra are expected in H2 2026, alongside a planned property-wide LiDAR survey and ongoing drilling at other company assets.
Silverco Mining (OTC:SICOF, TSXV:SICO) reported new high-grade drill results from the Cusi silver project in Chihuahua, Mexico, part of a 30,000 m 2026 drill program.
Key intercepts include 1,100 g/t Ag over 10.3 m (1,080 g/t AgEq) in hole UGCU26-08, plus several multi-metre intervals above 200 g/t AgEq near planned early mine development.
The data target infill and expansion at Promontorio to support a planned Cusi restart in H2 2026, underpinned by a PEA outlining average 2.47 Moz AgEq/year, site AISC of US$26.75/oz AgEq (2028–2032), and after-tax NPV up to US$312.2 M.
Silverco (SICOF) has mobilized underground mining contractors at its 100%-owned Cusi silver project in Chihuahua, Mexico, advancing its restart plan. Two local contractors, Mafrissa and Rencer, will develop the Promontorio and San Miguel zones, with first concentrate targeted for Q4 2026.
The 2026 PEA outlines average annual production of about 2.5 Moz AgEq from 2028–2032 at site AISC of US$26.75/oz. Using a base silver price of US$44.58/oz, Cusi shows an after-tax NPV of US$104.1M, IRR of 94.8%, and payback of 0.9 years, with upfront capital of US$19.2M.
Silverco Mining (TSXV:SICO, OTC:SICOF) reported initial underground assays from its 2026 30,000 m drill program at the Cusi silver project in Mexico. Early Promontorio holes returned up to 1,712 g/t AgEq over 1.4 m near near-term planned stopes.
The work targets infill and expansion ahead of a planned H2 2026 restart. A PEA outlines average 2028–2032 production of 2.47 Moz AgEq, site AISC of US$26.75/oz, and after-tax NPV up to US$312.2M depending on silver prices.