Geology and Exploration
Key Highlights
- 11,665 ha on Sierra Madre Occidental Belt, a major geological belt which is host to numerous significant deposits in the area of Cusi, particularly epithermal precious metal deposits
- Cusi property contains numerous epithermal veins with notable mineralization. Veins typically dip at moderate to steep angles in various directions with thickness varying from less than 0.5 m to 2+ m, and they can extend 100 to 200 m along strike and up to 400 m downdip.
- Mineralization is linked to structural features, breccias, and fracture fillings, which can range from under 1 m to 10 m in thickness. The filling material is polymetallic, containing silver, lead, zinc sulphides, minor copper, and variable amounts of gold.
- Intense fracturing associated with the main structures has led to zones of micro-veinlets and dissemination.
2024/2025 Drilling
The company successfully completed a 5,600 m drill campaign focused on testing the San Miguel and La Bamba inset claims and exploring downthrown extensions at Eduwiges. These results demonstrate continuity and the potential for resource expansion in downthrown fault blocks across multiple vein systems.
San Miguel
| Hole ID | From (m) | To (m) | Length (m) | Au ppm | Ag ppm | Pb % | Zn % |
|---|---|---|---|---|---|---|---|
| CU-24-03 | 168.0 | 171.3 | 3.3 | 0.15 | 450 | 0.31 | 0.42 |
| incl. | 171.0 | 171.3 | 0.4 | 0.45 | 2,480 | 0.98 | 0.96 |
| CU-24-04 | 190.0 | 193.0 | 3.0 | 0.19 | 294 | 0.27 | 0.30 |
| incl. | 192.0 | 193.0 | 1.0 | 0.41 | 689 | 0.31 | 0.17 |
| CU-24-06 | 178.9 | 183.3 | 4.4 | 0.22 | 270 | 0.33 | 0.17 |
| incl. | 182.1 | 182.3 | 0.2 | 1.35 | 1,740 | 1.47 | 0.16 |
| CU-24-07 | 177.5 | 180.0 | 2.6 | 0.26 | 385 | 0.29 | 0.13 |
| CU-24-07 | 184.5 | 189.9 | 5.4 | 0.14 | 184 | 0.08 | 0.08 |
| CU-24-08 | 171.4 | 174.4 | 3.0 | 0.37 | 268 | 2.45 | 0.92 |
| incl. | 171.4 | 171.7 | 0.3 | 2.51 | 1,590 | 20.00 | 5.06 |
| CU-24-08 | 237.1 | 244.7 | 7.5 | 0.30 | 291 | 2.17 | 2.45 |
| incl. | 239.0 | 239.7 | 0.7 | 0.96 | 958 | 2.01 | 5.02 |
| CU-24-09 | 188.2 | 197.2 | 9.0 | 0.15 | 288 | 0.40 | 0.12 |
| incl. | 192.5 | 194.3 | 1.8 | 0.20 | 584 | 0.72 | 0.10 |
| CU-24-11 | 165.1 | 168.3 | 3.3 | 0.29 | 335 | 1.39 | 0.67 |
Note: True widths have not been calculated but are estimated to be 85-95% of the stated widths.
Eduwiges Downthrown Highlights
| Hole ID | From (m) | To (m) | Length (m) | Au ppm | Ag ppm | Pb % | Zn % |
|---|---|---|---|---|---|---|---|
| CU-24-01 | 220.3 | 222.0 | 1.7 | 0.13 | 202 | 0.83 | 4.46 |
| CU-24-01 | 415.3 | 417.0 | 1.7 | 0.24 | 54 | 4.26 | 1.39 |
| CU-24-05 | 332.5 | 334.9 | 2.5 | 0.62 | 236 | 0.81 | 0.62 |
| CU-24-10C | 383.2 | 386.4 | 3.2 | 0.23 | 498 | 1.34 | 1.83 |
| CU-24-10C | 647.6 | 649.5 | 1.9 | 0.12 | 78 | 1.76 | 1.53 |
Note: True widths have not been calculated but are estimated to be 85-95% of the stated widths.
The property has seen historical workings at surface along most of the known outcropping veins. Modern production has primarily been limited to the Promontorio and Eduwiges areas.
Until recently, it was believed these veins terminated at the Cusi Fault. However, successful intercepts below the fault have demonstrated significant downthrown extensions, including:
- Promontorio: Mined extension found ~100m below the fault
- San Juan: 2021 drilling intersected downthrown continuity
- Eduwiges: 2024 program revealed new downthrown veins 400m down plunge
- San Miguel: Expected to show similar structural behavior
These findings highlight district-wide continuity and a strong case for future resource growth through step-out drilling.
Drill Targets
San Miguel - Inset Claims
- Consolidated, highly prospective, inset claims with the acquisition of the Cusi Mine
- Consistent high-grade intercepts over wide widths were encountered in 2024 program
- Series of parallel veins with increasing grade and width at depth, remains open in all directions
Promontorio – Carolina Vein Extension
- One of six sub-veins in the eastern Promontorio zone
- Discovered in 2020 and followed along downthrown blocks
- Remains open with step-out hits over 300m from past workings
- Suspension of mining in Sept 2023 offers renewed exploration opportunity
San Juan – Downthrown Block
- Drilled and partially mined near surface, but 2020 drilling confirmed a significant extension east of the Cusi Fault
- Four holes hit mineralization, but no follow-up occurred as Sierra Metals exited the asset
- Next step: Resource definition drilling to evaluate scale
Eduwiges – 2024 Discovery
- Newly identified downthrown block with multiple intercepts
- Intersects located over 400m from nearest known vein exposures
- Adds to the growing list of structurally repeated systems that remain open and underexplored
2026 Exploration Overview
- 30,000 metre surface and underground drilling program
Primary Focus Areas
San Juan Connectivity and Major Cusi Fault Extension
Targeting approximately 600 meter step out to connect highly successful 2025 intercepts with historical drilling, targeting newly identified downthrown mineralization representing the eastern continuation of the San Juan vein across the Cusi fault.
San Juan Long Section, with resource blocks, +/- 100m, Looking NNW
San Miguel Blue-Sky Expansion
Surface drilling is designed to aggressively test the lateral and vertical limits of Cusi's cornerstone deposit, pushing beyond the known mineralization footprint.
San Miguel Long Section, with resource blocks, +/- 175 m, Looking NW
Near-Term Resource Growth at Promontorio
Underground drilling will target near-term vein extensions for resource expansion while simultaneously optimizing mine planning to reduce initial development requirements.
Planned grade control drilling at Promontorio. Other veins filtered for visual clarity
Regional Exploration Prospects
Dedicated meterage is allocated to test additional high-priority, unexplored regional targets across the property, alongside potential unlocked through claim consolidation.