Silverco Releases Positive PEA for Producing La Negra Mine Outlining a Low Capital, 8.2 Year Mine Life Generating After-Tax NPV of $329 Million
Original announcement by newsfile on
- Company
- Silverco Mining Ltd.
- Ticker
- SICO
- Exchange
- Unavailable
- Region
- Querétaro, Mexico
- Primary commodity
- Silver
- Secondary commodities
- Copper, Lead, Zinc
- Document categories
- Resource update, Metallurgy
- Extracted
- 2026-09-21 10:53:52 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Silverco Mining Ltd. has released a positive Preliminary Economic Assessment (PEA) for its 100%-owned La Negra Mine in Mexico, outlining an 8.2-year mine life with an after-tax NPV(5%) of $329 million and an after-tax IRR of 131%. The PEA is supported by a new NI 43-101 compliant Mineral Resource Estimate, reporting 15.23 Mt Indicated at 201 g/t AgEq and 2.26 Mt Inferred at 174 g/t AgEq, with low initial capital requirements of $20.9 million.
Reasoning: Silverco's PEA for the La Negra Mine outlines strong economics with a significant after-tax NPV and IRR, supported by a new NI 43-101 compliant MRE featuring substantial Indicated resources. The project benefits from low initial capital, robust production, and good metallurgical recoveries from an existing operation, positioning it for future growth despite some reliance on Inferred resources in the mine plan.
Positive factors
- Attractive economics (NPV, IRR)
- Low initial capital requirements
- Robust production profile
- Significant indicated resource
- NI 43-101 compliant MRE
- QP signed off on MRE and PEA components
- Existing underground infrastructure
- Good metallurgical recoveries from actual plant performance
- Opportunities for optimization identified
Negative factors
- Production schedule includes 21% Inferred Mineral Resources
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 60
Classification and evidence
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document announces the results of an independent Preliminary Economic Assessment ("PEA") and supporting Mineral Resource Estimate ("MRE").
Evidence · text
“Silverco Releases Positive PEA for Producing La Negra Mine Outlining a Low Capital, 8.2 Year Mine Life Generating After-Tax NPV of $329 Million”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The PEA and supporting Mineral Resource Estimate ("MRE") were prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
Evidence · text
“The PEA and supporting Mineral Resource Estimate ("MRE") were prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Mineral Resource Estimate was prepared by Allan Armitage, Ph.D., P.Geo. of SGS Geological Services, an independent Qualified Person as defined by NI 43-101.
Evidence · text
“The Mineral Resource Estimate was prepared by Allan Armitage, Ph.D., P.Geo. of SGS Geological Services, an independent Qualified Person as defined by NI 43-101.”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The new MRE includes Indicated resources of 15.23 Mt at 201 g/t AgEq for 98.2M AgEq oz.
Evidence · text
“Indicated resources of 15.23 Mt at 201 g/t AgEq for 98.2M AgEq oz”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The new MRE includes Inferred resources of 2.26Mt at 174 g/t AgEq for 12.6 M AgEq oz.
Evidence · text
“Inferred resources of 2.26Mt at 174 g/t AgEq for 12.6 M AgEq oz.”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: Underground Mineral Resources are reported at a base case cut-off grade of 80 g/t AgEq.
Evidence · text
“Underground Mineral Resources are reported at a base case cut-off grade of 80 g/t AgEq.”
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: The processing facility at La Negra consists of a standard crushing, grinding, flotation, and filtration circuit.
Evidence · text
“The processing facility at La Negra consists of a standard crushing, grinding, flotation, and filtration circuit”
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: Life-of-mine metallurgical recoveries average 83.6% for silver, 77.8% for copper, 81.5% for lead and 81.9% for zinc, which are strong for a flotation circuit.
Evidence · text
“Life-of-mine metallurgical recoveries average 83.6% for silver, 77.8% for copper, 81.5% for lead and 81.9% for zinc.”
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: Approximately 65% of the projected life-of-mine Net Smelter Return (NSR) revenue is generated from silver production. The remaining 35% of the NSR revenue is comprised of by-product metals, including copper (12%), lead (6%), and zinc (17%).
Evidence · text
“The remaining 35% of the NSR revenue is comprised of by-product metals, including copper (12%), lead (6%), and zinc (17%)”
Extracted facts
Stored fact records: 60. Some facts used in scoring do not have a stored record.
Resource Estimates (56)
indicatedLa Negra Mine · silverTonnes: 15230000Grade: 51.9Grade Unit: mozContained Metal: 98.2Contained Unit: mozView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:83dfeefa590456ba6b5a
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 15230000
- Grade
- 51.9
- Grade Unit
- moz
- Contained Metal
- 98.2
- Contained Unit
- moz
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 98.2
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Significant indicated silver equivalent resource at La Negra Mine, providing a combined economic metric for the polymetallic deposit with disclosed assumptions.
Positive factors
- Significant indicated silver equivalent resource
- NI 43-101 compliant
- QP signed
- Metal equivalent assumptions disclosed
Evidence · table
“51.9”
Context: 15.23
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · leadTonnes: 15230000Grade: 199Grade Unit: mlbsContained Metal: 199Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:83dfeefa590456ba6b5a
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 15230000
- Grade
- 199
- Grade Unit
- mlbs
- Contained Metal
- 199
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 98.2
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Significant indicated lead resource at La Negra Mine, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Significant indicated lead resource
- NI 43-101 compliant
- QP signed
Evidence · table
“199”
Context: 15.23
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · zincTonnes: 15230000Grade: 608Grade Unit: mlbsContained Metal: 608Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:83dfeefa590456ba6b5a
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 15230000
- Grade
- 608
- Grade Unit
- mlbs
- Contained Metal
- 608
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 98.2
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Significant indicated zinc resource at La Negra Mine, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Significant indicated zinc resource
- NI 43-101 compliant
- QP signed
Evidence · table
“608”
Context: 15.23
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · copperTonnes: 15230000Grade: 158Grade Unit: mlbsContained Metal: 158Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- copper
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:83dfeefa590456ba6b5a
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 15230000
- Grade
- 158
- Grade Unit
- mlbs
- Contained Metal
- 158
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 98.2
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Significant indicated copper resource at La Negra Mine, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Significant indicated copper resource
- NI 43-101 compliant
- QP signed
Evidence · table
“158”
Context: 15.23
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLa Negra Mine · silverTonnes: 2260000Grade: 6.72Grade Unit: mozContained Metal: 12.6Contained Unit: mozView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:bd2ed05f9726429d36b3
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 2260000
- Grade
- 6.72
- Grade Unit
- moz
- Contained Metal
- 12.6
- Contained Unit
- moz
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 12.6
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Inferred silver equivalent resource at La Negra Mine provides future potential but has lower confidence than indicated resources, though it is NI 43-101 compliant with disclosed assumptions.
Positive factors
- Inferred silver equivalent resource provides future potential
- NI 43-101 compliant
- QP signed
- Metal equivalent assumptions disclosed
Negative factors
- Lower confidence category
Evidence · table
“6.72”
Context: 2.26
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLa Negra Mine · leadTonnes: 2260000Grade: 49.7Grade Unit: mlbsContained Metal: 49.7Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:bd2ed05f9726429d36b3
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 2260000
- Grade
- 49.7
- Grade Unit
- mlbs
- Contained Metal
- 49.7
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 12.6
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Inferred lead resource at La Negra Mine provides future potential but has lower confidence than indicated resources, though it is NI 43-101 compliant.
Positive factors
- Inferred lead resource provides future potential
- NI 43-101 compliant
- QP signed
Negative factors
- Lower confidence category
Evidence · table
“49.7”
Context: 2.26
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLa Negra Mine · zincTonnes: 2260000Grade: 95.7Grade Unit: mlbsContained Metal: 95.7Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:bd2ed05f9726429d36b3
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 2260000
- Grade
- 95.7
- Grade Unit
- mlbs
- Contained Metal
- 95.7
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 12.6
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Inferred zinc resource at La Negra Mine provides future potential but has lower confidence than indicated resources, though it is NI 43-101 compliant.
Positive factors
- Inferred zinc resource provides future potential
- NI 43-101 compliant
- QP signed
Negative factors
- Lower confidence category
Evidence · table
“95.7”
Context: 2.26
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLa Negra Mine · copperTonnes: 2260000Grade: 10.6Grade Unit: mlbsContained Metal: 10.6Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- copper
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:bd2ed05f9726429d36b3
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 2260000
- Grade
- 10.6
- Grade Unit
- mlbs
- Contained Metal
- 10.6
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 12.6
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Inferred copper resource at La Negra Mine provides future potential but has lower confidence than indicated resources, though it is NI 43-101 compliant.
Positive factors
- Inferred copper resource provides future potential
- NI 43-101 compliant
- QP signed
Negative factors
- Lower confidence category
Evidence · table
“10.6”
Context: 2.26
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · silverTonnes: 5340000Grade: 27.1Grade Unit: mozContained Metal: 45.3Contained Unit: mozView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:56fa605b3b83afb5422f
- Deposit or zone
- Negra
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 5340000
- Grade
- 27.1
- Grade Unit
- moz
- Contained Metal
- 45.3
- Contained Unit
- moz
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 45.3
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: High-grade indicated silver equivalent resource in the Negra area, providing a combined economic metric for the polymetallic deposit with disclosed assumptions.
Positive factors
- High-grade indicated silver equivalent resource in Negra area
- NI 43-101 compliant
- QP signed
- Metal equivalent assumptions disclosed
Evidence · table
“27.1”
Context: 5.34
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · leadTonnes: 5340000Grade: 121.8Grade Unit: mlbsContained Metal: 121.8Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:56fa605b3b83afb5422f
- Deposit or zone
- Negra
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 5340000
- Grade
- 121.8
- Grade Unit
- mlbs
- Contained Metal
- 121.8
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 45.3
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Significant indicated lead resource in the Negra area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Significant indicated lead resource in Negra area
- NI 43-101 compliant
- QP signed
Evidence · table
“121.8”
Context: 5.34
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · zincTonnes: 5340000Grade: 267.4Grade Unit: mlbsContained Metal: 267.4Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:56fa605b3b83afb5422f
- Deposit or zone
- Negra
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 5340000
- Grade
- 267.4
- Grade Unit
- mlbs
- Contained Metal
- 267.4
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 45.3
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Significant indicated zinc resource in the Negra area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Significant indicated zinc resource in Negra area
- NI 43-101 compliant
- QP signed
Evidence · table
“267.4”
Context: 5.34
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · copperTonnes: 5340000Grade: 46.2Grade Unit: mlbsContained Metal: 46.2Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- copper
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:56fa605b3b83afb5422f
- Deposit or zone
- Negra
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 5340000
- Grade
- 46.2
- Grade Unit
- mlbs
- Contained Metal
- 46.2
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 45.3
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Significant indicated copper resource in the Negra area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Significant indicated copper resource in Negra area
- NI 43-101 compliant
- QP signed
Evidence · table
“46.2”
Context: 5.34
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLa Negra Mine · silverTonnes: 220000Grade: 1.8Grade Unit: mozContained Metal: 3Contained Unit: mozView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:db137e8d6470309feb5c
- Deposit or zone
- Negra
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 220000
- Grade
- 1.8
- Grade Unit
- moz
- Contained Metal
- 3
- Contained Unit
- moz
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 3
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: High-grade inferred silver equivalent resource in the Negra area provides future potential but has lower confidence than indicated resources, though it is NI 43-101 compliant with disclosed assumptions.
Positive factors
- High-grade inferred silver equivalent resource in Negra area provides future potential
- NI 43-101 compliant
- QP signed
- Metal equivalent assumptions disclosed
Negative factors
- Lower confidence category
Evidence · table
“1.8”
Context: 0.22
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLa Negra Mine · leadTonnes: 220000Grade: 8.9Grade Unit: mlbsContained Metal: 8.9Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:db137e8d6470309feb5c
- Deposit or zone
- Negra
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 220000
- Grade
- 8.9
- Grade Unit
- mlbs
- Contained Metal
- 8.9
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 3
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Inferred lead resource in the Negra area provides future potential but has lower confidence than indicated resources, though it is NI 43-101 compliant.
Positive factors
- Inferred lead resource in Negra area provides future potential
- NI 43-101 compliant
- QP signed
Negative factors
- Lower confidence category
Evidence · table
“8.9”
Context: 0.22
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLa Negra Mine · zincTonnes: 220000Grade: 22.1Grade Unit: mlbsContained Metal: 22.1Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:db137e8d6470309feb5c
- Deposit or zone
- Negra
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 220000
- Grade
- 22.1
- Grade Unit
- mlbs
- Contained Metal
- 22.1
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 3
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: High-grade inferred zinc resource in the Negra area provides future potential but has lower confidence than indicated resources, though it is NI 43-101 compliant.
Positive factors
- High-grade inferred zinc resource in Negra area provides future potential
- NI 43-101 compliant
- QP signed
Negative factors
- Lower confidence category
Evidence · table
“22.1”
Context: 0.22
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLa Negra Mine · copperTonnes: 220000Grade: 1.8Grade Unit: mlbsContained Metal: 1.8Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- copper
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:db137e8d6470309feb5c
- Deposit or zone
- Negra
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 220000
- Grade
- 1.8
- Grade Unit
- mlbs
- Contained Metal
- 1.8
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 3
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Inferred copper resource in the Negra area provides future potential but has lower confidence than indicated resources, though it is NI 43-101 compliant.
Positive factors
- Inferred copper resource in Negra area provides future potential
- NI 43-101 compliant
- QP signed
Negative factors
- Lower confidence category
Evidence · table
“1.8”
Context: 0.22
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · silverTonnes: 860000Grade: 2Grade Unit: mozContained Metal: 4Contained Unit: mozView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:d568e0c628fec4a4c7a7
- Deposit or zone
- Cobriza
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 860000
- Grade
- 2
- Grade Unit
- moz
- Contained Metal
- 4
- Contained Unit
- moz
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 4
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated silver equivalent resource in the Cobriza area, providing a combined economic metric for the polymetallic deposit with disclosed assumptions.
Positive factors
- Indicated silver equivalent resource in Cobriza area
- NI 43-101 compliant
- QP signed
- Metal equivalent assumptions disclosed
Evidence · table
“2.0”
Context: 0.86
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · leadTonnes: 860000Grade: 6.2Grade Unit: mlbsContained Metal: 6.2Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:d568e0c628fec4a4c7a7
- Deposit or zone
- Cobriza
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 860000
- Grade
- 6.2
- Grade Unit
- mlbs
- Contained Metal
- 6.2
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 4
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated lead resource in the Cobriza area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Indicated lead resource in Cobriza area
- NI 43-101 compliant
- QP signed
Evidence · table
“6.2”
Context: 0.86
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · zincTonnes: 860000Grade: 12.9Grade Unit: mlbsContained Metal: 12.9Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:d568e0c628fec4a4c7a7
- Deposit or zone
- Cobriza
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 860000
- Grade
- 12.9
- Grade Unit
- mlbs
- Contained Metal
- 12.9
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 4
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated zinc resource in the Cobriza area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Indicated zinc resource in Cobriza area
- NI 43-101 compliant
- QP signed
Evidence · table
“12.9”
Context: 0.86
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · copperTonnes: 860000Grade: 11.6Grade Unit: mlbsContained Metal: 11.6Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- copper
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:d568e0c628fec4a4c7a7
- Deposit or zone
- Cobriza
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 860000
- Grade
- 11.6
- Grade Unit
- mlbs
- Contained Metal
- 11.6
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 4
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated copper resource in the Cobriza area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Indicated copper resource in Cobriza area
- NI 43-101 compliant
- QP signed
Evidence · table
“11.6”
Context: 0.86
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · silverTonnes: 1710000Grade: 5.1Grade Unit: mozContained Metal: 8.5Contained Unit: mozView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:48de01b53ad65a51dfd6
- Deposit or zone
- Monica
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1710000
- Grade
- 5.1
- Grade Unit
- moz
- Contained Metal
- 8.5
- Contained Unit
- moz
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 8.5
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated silver equivalent resource in the Monica area, providing a combined economic metric for the polymetallic deposit with disclosed assumptions.
Positive factors
- Indicated silver equivalent resource in Monica area
- NI 43-101 compliant
- QP signed
- Metal equivalent assumptions disclosed
Evidence · table
“5.1”
Context: 1.71
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · leadTonnes: 1710000Grade: 20Grade Unit: mlbsContained Metal: 20Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:48de01b53ad65a51dfd6
- Deposit or zone
- Monica
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1710000
- Grade
- 20
- Grade Unit
- mlbs
- Contained Metal
- 20
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 8.5
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated lead resource in the Monica area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Indicated lead resource in Monica area
- NI 43-101 compliant
- QP signed
Evidence · table
“20.0”
Context: 1.71
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · zincTonnes: 1710000Grade: 45.2Grade Unit: mlbsContained Metal: 45.2Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:48de01b53ad65a51dfd6
- Deposit or zone
- Monica
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1710000
- Grade
- 45.2
- Grade Unit
- mlbs
- Contained Metal
- 45.2
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 8.5
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated zinc resource in the Monica area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Indicated zinc resource in Monica area
- NI 43-101 compliant
- QP signed
Evidence · table
“45.2”
Context: 1.71
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · copperTonnes: 1710000Grade: 10.6Grade Unit: mlbsContained Metal: 10.6Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- copper
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:48de01b53ad65a51dfd6
- Deposit or zone
- Monica
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1710000
- Grade
- 10.6
- Grade Unit
- mlbs
- Contained Metal
- 10.6
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 8.5
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated copper resource in the Monica area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Indicated copper resource in Monica area
- NI 43-101 compliant
- QP signed
Evidence · table
“10.6”
Context: 1.71
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · silverTonnes: 1090000Grade: 2.2Grade Unit: mozContained Metal: 5Contained Unit: mozView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:ad23240569af27c59b5d
- Deposit or zone
- Bicentenario
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1090000
- Grade
- 2.2
- Grade Unit
- moz
- Contained Metal
- 5
- Contained Unit
- moz
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 5
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated silver equivalent resource in the Bicentenario area, providing a combined economic metric for the polymetallic deposit with disclosed assumptions.
Positive factors
- Indicated silver equivalent resource in Bicentenario area
- NI 43-101 compliant
- QP signed
- Metal equivalent assumptions disclosed
Evidence · table
“2.2”
Context: 1.09
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · leadTonnes: 1090000Grade: 5.3Grade Unit: mlbsContained Metal: 5.3Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:ad23240569af27c59b5d
- Deposit or zone
- Bicentenario
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1090000
- Grade
- 5.3
- Grade Unit
- mlbs
- Contained Metal
- 5.3
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 5
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated lead resource in the Bicentenario area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Indicated lead resource in Bicentenario area
- NI 43-101 compliant
- QP signed
Evidence · table
“5.3”
Context: 1.09
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · zincTonnes: 1090000Grade: 33.9Grade Unit: mlbsContained Metal: 33.9Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:ad23240569af27c59b5d
- Deposit or zone
- Bicentenario
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1090000
- Grade
- 33.9
- Grade Unit
- mlbs
- Contained Metal
- 33.9
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 5
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated zinc resource in the Bicentenario area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Indicated zinc resource in Bicentenario area
- NI 43-101 compliant
- QP signed
Evidence · table
“33.9”
Context: 1.09
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · copperTonnes: 1090000Grade: 11.6Grade Unit: mlbsContained Metal: 11.6Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- copper
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:ad23240569af27c59b5d
- Deposit or zone
- Bicentenario
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1090000
- Grade
- 11.6
- Grade Unit
- mlbs
- Contained Metal
- 11.6
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 5
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated copper resource in the Bicentenario area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Indicated copper resource in Bicentenario area
- NI 43-101 compliant
- QP signed
Evidence · table
“11.6”
Context: 1.09
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · silverTonnes: 970000Grade: 3.5Grade Unit: mozContained Metal: 7.9Contained Unit: mozView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:c14830f760703d201703
- Deposit or zone
- Maravillas
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 970000
- Grade
- 3.5
- Grade Unit
- moz
- Contained Metal
- 7.9
- Contained Unit
- moz
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 7.9
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: High-grade indicated silver equivalent resource in the Maravillas area, providing a combined economic metric for the polymetallic deposit with disclosed assumptions.
Positive factors
- High-grade indicated silver equivalent resource in Maravillas area
- NI 43-101 compliant
- QP signed
- Metal equivalent assumptions disclosed
Evidence · table
“3.5”
Context: 0.97
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · leadTonnes: 970000Grade: 10.1Grade Unit: mlbsContained Metal: 10.1Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:c14830f760703d201703
- Deposit or zone
- Maravillas
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 970000
- Grade
- 10.1
- Grade Unit
- mlbs
- Contained Metal
- 10.1
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 7.9
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated lead resource in the Maravillas area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Indicated lead resource in Maravillas area
- NI 43-101 compliant
- QP signed
Evidence · table
“10.1”
Context: 0.97
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · zincTonnes: 970000Grade: 65.1Grade Unit: mlbsContained Metal: 65.1Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:c14830f760703d201703
- Deposit or zone
- Maravillas
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 970000
- Grade
- 65.1
- Grade Unit
- mlbs
- Contained Metal
- 65.1
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 7.9
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: High-grade indicated zinc resource in the Maravillas area, contributing significantly to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- High-grade indicated zinc resource in Maravillas area
- NI 43-101 compliant
- QP signed
Evidence · table
“65.1”
Context: 0.97
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · copperTonnes: 970000Grade: 15.3Grade Unit: mlbsContained Metal: 15.3Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- copper
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:c14830f760703d201703
- Deposit or zone
- Maravillas
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 970000
- Grade
- 15.3
- Grade Unit
- mlbs
- Contained Metal
- 15.3
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 7.9
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated copper resource in the Maravillas area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Indicated copper resource in Maravillas area
- NI 43-101 compliant
- QP signed
Evidence · table
“15.3”
Context: 0.97
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLa Negra Mine · silverTonnes: 50000Grade: 0.1Grade Unit: mozContained Metal: 0.2Contained Unit: mozView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:0cba91c7a98bacf2ec0b
- Deposit or zone
- Maravillas
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 50000
- Grade
- 0.1
- Grade Unit
- moz
- Contained Metal
- 0.2
- Contained Unit
- moz
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 0.2
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Inferred silver equivalent resource in the Maravillas area provides future potential but has lower confidence than indicated resources, though it is NI 43-101 compliant with disclosed assumptions.
Positive factors
- Inferred silver equivalent resource in Maravillas area provides future potential
- NI 43-101 compliant
- QP signed
- Metal equivalent assumptions disclosed
Negative factors
- Lower confidence category
Evidence · table
“0.1”
Context: 0.05
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLa Negra Mine · leadTonnes: 50000Grade: 0.2Grade Unit: mlbsContained Metal: 0.2Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:0cba91c7a98bacf2ec0b
- Deposit or zone
- Maravillas
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 50000
- Grade
- 0.2
- Grade Unit
- mlbs
- Contained Metal
- 0.2
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 0.2
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Inferred lead resource in the Maravillas area provides future potential but has lower confidence than indicated resources, though it is NI 43-101 compliant.
Positive factors
- Inferred lead resource in Maravillas area provides future potential
- NI 43-101 compliant
- QP signed
Negative factors
- Lower confidence category
Evidence · table
“0.2”
Context: 0.05
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLa Negra Mine · zincTonnes: 50000Grade: 2Grade Unit: mlbsContained Metal: 2Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:0cba91c7a98bacf2ec0b
- Deposit or zone
- Maravillas
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 50000
- Grade
- 2
- Grade Unit
- mlbs
- Contained Metal
- 2
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 0.2
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Inferred zinc resource in the Maravillas area provides future potential but has lower confidence than indicated resources, though it is NI 43-101 compliant.
Positive factors
- Inferred zinc resource in Maravillas area provides future potential
- NI 43-101 compliant
- QP signed
Negative factors
- Lower confidence category
Evidence · table
“2.0”
Context: 0.05
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLa Negra Mine · copperTonnes: 50000Grade: 0.3Grade Unit: mlbsContained Metal: 0.3Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- copper
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:0cba91c7a98bacf2ec0b
- Deposit or zone
- Maravillas
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 50000
- Grade
- 0.3
- Grade Unit
- mlbs
- Contained Metal
- 0.3
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 0.2
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Inferred copper resource in the Maravillas area provides future potential but has lower confidence than indicated resources, though it is NI 43-101 compliant.
Positive factors
- Inferred copper resource in Maravillas area provides future potential
- NI 43-101 compliant
- QP signed
Negative factors
- Lower confidence category
Evidence · table
“0.3”
Context: 0.05
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · silverTonnes: 2820000Grade: 6.5Grade Unit: mozContained Metal: 14.9Contained Unit: mozView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:2308f64915b357d90d7a
- Deposit or zone
- Trinidad
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 2820000
- Grade
- 6.5
- Grade Unit
- moz
- Contained Metal
- 14.9
- Contained Unit
- moz
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 14.9
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated silver equivalent resource in the Trinidad area, providing a combined economic metric for the polymetallic deposit with disclosed assumptions.
Positive factors
- Indicated silver equivalent resource in Trinidad area
- NI 43-101 compliant
- QP signed
- Metal equivalent assumptions disclosed
Evidence · table
“6.5”
Context: 2.82
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · leadTonnes: 2820000Grade: 16.4Grade Unit: mlbsContained Metal: 16.4Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:2308f64915b357d90d7a
- Deposit or zone
- Trinidad
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 2820000
- Grade
- 16.4
- Grade Unit
- mlbs
- Contained Metal
- 16.4
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 14.9
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated lead resource in the Trinidad area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Indicated lead resource in Trinidad area
- NI 43-101 compliant
- QP signed
Evidence · table
“16.4”
Context: 2.82
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · zincTonnes: 2820000Grade: 83Grade Unit: mlbsContained Metal: 83Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:2308f64915b357d90d7a
- Deposit or zone
- Trinidad
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 2820000
- Grade
- 83
- Grade Unit
- mlbs
- Contained Metal
- 83
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 14.9
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated zinc resource in the Trinidad area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Indicated zinc resource in Trinidad area
- NI 43-101 compliant
- QP signed
Evidence · table
“83.0”
Context: 2.82
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · copperTonnes: 2820000Grade: 40.8Grade Unit: mlbsContained Metal: 40.8Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- copper
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:2308f64915b357d90d7a
- Deposit or zone
- Trinidad
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 2820000
- Grade
- 40.8
- Grade Unit
- mlbs
- Contained Metal
- 40.8
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 14.9
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated copper resource in the Trinidad area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Indicated copper resource in Trinidad area
- NI 43-101 compliant
- QP signed
Evidence · table
“40.8”
Context: 2.82
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · silverTonnes: 770000Grade: 1.3Grade Unit: mozContained Metal: 3.2Contained Unit: mozView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:b48deedd3fdeaa427993
- Deposit or zone
- Gaby/Lupita
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 770000
- Grade
- 1.3
- Grade Unit
- moz
- Contained Metal
- 3.2
- Contained Unit
- moz
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 3.2
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated silver equivalent resource in the Gaby/Lupita area, providing a combined economic metric for the polymetallic deposit with disclosed assumptions.
Positive factors
- Indicated silver equivalent resource in Gaby/Lupita area
- NI 43-101 compliant
- QP signed
- Metal equivalent assumptions disclosed
Evidence · table
“1.3”
Context: 0.77
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · leadTonnes: 770000Grade: 2.3Grade Unit: mlbsContained Metal: 2.3Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:b48deedd3fdeaa427993
- Deposit or zone
- Gaby/Lupita
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 770000
- Grade
- 2.3
- Grade Unit
- mlbs
- Contained Metal
- 2.3
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 3.2
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated lead resource in the Gaby/Lupita area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Indicated lead resource in Gaby/Lupita area
- NI 43-101 compliant
- QP signed
Evidence · table
“2.3”
Context: 0.77
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · zincTonnes: 770000Grade: 20.2Grade Unit: mlbsContained Metal: 20.2Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:b48deedd3fdeaa427993
- Deposit or zone
- Gaby/Lupita
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 770000
- Grade
- 20.2
- Grade Unit
- mlbs
- Contained Metal
- 20.2
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 3.2
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated zinc resource in the Gaby/Lupita area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Indicated zinc resource in Gaby/Lupita area
- NI 43-101 compliant
- QP signed
Evidence · table
“20.2”
Context: 0.77
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · copperTonnes: 770000Grade: 9.2Grade Unit: mlbsContained Metal: 9.2Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- copper
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:b48deedd3fdeaa427993
- Deposit or zone
- Gaby/Lupita
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 770000
- Grade
- 9.2
- Grade Unit
- mlbs
- Contained Metal
- 9.2
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 3.2
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated copper resource in the Gaby/Lupita area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Indicated copper resource in Gaby/Lupita area
- NI 43-101 compliant
- QP signed
Evidence · table
“9.2”
Context: 0.77
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · silverTonnes: 1680000Grade: 4.4Grade Unit: mozContained Metal: 9.3Contained Unit: mozView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:b410d346d48709627c2b
- Deposit or zone
- Northwest
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1680000
- Grade
- 4.4
- Grade Unit
- moz
- Contained Metal
- 9.3
- Contained Unit
- moz
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 9.3
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated silver equivalent resource in the Northwest area, providing a combined economic metric for the polymetallic deposit with disclosed assumptions.
Positive factors
- Indicated silver equivalent resource in Northwest area
- NI 43-101 compliant
- QP signed
- Metal equivalent assumptions disclosed
Evidence · table
“4.4”
Context: 1.68
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · leadTonnes: 1680000Grade: 16.9Grade Unit: mlbsContained Metal: 16.9Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:b410d346d48709627c2b
- Deposit or zone
- Northwest
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1680000
- Grade
- 16.9
- Grade Unit
- mlbs
- Contained Metal
- 16.9
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 9.3
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated lead resource in the Northwest area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Indicated lead resource in Northwest area
- NI 43-101 compliant
- QP signed
Evidence · table
“16.9”
Context: 1.68
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · zincTonnes: 1680000Grade: 80.1Grade Unit: mlbsContained Metal: 80.1Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:b410d346d48709627c2b
- Deposit or zone
- Northwest
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1680000
- Grade
- 80.1
- Grade Unit
- mlbs
- Contained Metal
- 80.1
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 9.3
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated zinc resource in the Northwest area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Indicated zinc resource in Northwest area
- NI 43-101 compliant
- QP signed
Evidence · table
“80.1”
Context: 1.68
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedLa Negra Mine · copperTonnes: 1680000Grade: 12.7Grade Unit: mlbsContained Metal: 12.7Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- copper
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:b410d346d48709627c2b
- Deposit or zone
- Northwest
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 1680000
- Grade
- 12.7
- Grade Unit
- mlbs
- Contained Metal
- 12.7
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 9.3
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Indicated copper resource in the Northwest area, contributing to the polymetallic nature of the deposit and compliant with NI 43-101 standards.
Positive factors
- Indicated copper resource in Northwest area
- NI 43-101 compliant
- QP signed
Evidence · table
“12.7”
Context: 1.68
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLa Negra Mine · silverTonnes: 1700000Grade: 4Grade Unit: mozContained Metal: 8Contained Unit: mozView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:5f0ad364ba36624f1610
- Deposit or zone
- Northwest
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 1700000
- Grade
- 4
- Grade Unit
- moz
- Contained Metal
- 8
- Contained Unit
- moz
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 8
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Inferred silver equivalent resource in the Northwest area provides future potential but has lower confidence than indicated resources, though it is NI 43-101 compliant with disclosed assumptions.
Positive factors
- Inferred silver equivalent resource in Northwest area provides future potential
- NI 43-101 compliant
- QP signed
- Metal equivalent assumptions disclosed
Negative factors
- Lower confidence category
Evidence · table
“4.0”
Context: 1.70
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLa Negra Mine · leadTonnes: 1700000Grade: 32.9Grade Unit: mlbsContained Metal: 32.9Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:5f0ad364ba36624f1610
- Deposit or zone
- Northwest
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 1700000
- Grade
- 32.9
- Grade Unit
- mlbs
- Contained Metal
- 32.9
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 8
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Inferred lead resource in the Northwest area provides future potential but has lower confidence than indicated resources, though it is NI 43-101 compliant.
Positive factors
- Inferred lead resource in Northwest area provides future potential
- NI 43-101 compliant
- QP signed
Negative factors
- Lower confidence category
Evidence · table
“32.9”
Context: 1.70
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLa Negra Mine · zincTonnes: 1700000Grade: 64.1Grade Unit: mlbsContained Metal: 64.1Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:5f0ad364ba36624f1610
- Deposit or zone
- Northwest
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 1700000
- Grade
- 64.1
- Grade Unit
- mlbs
- Contained Metal
- 64.1
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 8
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Inferred zinc resource in the Northwest area provides future potential but has lower confidence than indicated resources, though it is NI 43-101 compliant.
Positive factors
- Inferred zinc resource in Northwest area provides future potential
- NI 43-101 compliant
- QP signed
Negative factors
- Lower confidence category
Evidence · table
“64.1”
Context: 1.70
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLa Negra Mine · copperTonnes: 1700000Grade: 7.4Grade Unit: mlbsContained Metal: 7.4Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- copper
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:5f0ad364ba36624f1610
- Deposit or zone
- Northwest
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 1700000
- Grade
- 7.4
- Grade Unit
- mlbs
- Contained Metal
- 7.4
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 8
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Inferred copper resource in the Northwest area provides future potential but has lower confidence than indicated resources, though it is NI 43-101 compliant.
Positive factors
- Inferred copper resource in Northwest area provides future potential
- NI 43-101 compliant
- QP signed
Negative factors
- Lower confidence category
Evidence · table
“7.4”
Context: 1.70
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLa Negra Mine · silverTonnes: 280000Grade: 0.9Grade Unit: mozContained Metal: 1.5Contained Unit: mozView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:952aeeacfdde7689fe9d
- Deposit or zone
- Valenciana
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 280000
- Grade
- 0.9
- Grade Unit
- moz
- Contained Metal
- 1.5
- Contained Unit
- moz
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 1.5
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Inferred silver equivalent resource in the Valenciana area provides future potential but has lower confidence than indicated resources, though it is NI 43-101 compliant with disclosed assumptions.
Positive factors
- Inferred silver equivalent resource in Valenciana area provides future potential
- NI 43-101 compliant
- QP signed
- Metal equivalent assumptions disclosed
Negative factors
- Lower confidence category
Evidence · table
“0.9”
Context: 0.28
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLa Negra Mine · leadTonnes: 280000Grade: 7.7Grade Unit: mlbsContained Metal: 7.7Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:952aeeacfdde7689fe9d
- Deposit or zone
- Valenciana
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 280000
- Grade
- 7.7
- Grade Unit
- mlbs
- Contained Metal
- 7.7
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 1.5
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Inferred lead resource in the Valenciana area provides future potential but has lower confidence than indicated resources, though it is NI 43-101 compliant.
Positive factors
- Inferred lead resource in Valenciana area provides future potential
- NI 43-101 compliant
- QP signed
Negative factors
- Lower confidence category
Evidence · table
“7.7”
Context: 0.28
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLa Negra Mine · zincTonnes: 280000Grade: 7.6Grade Unit: mlbsContained Metal: 7.6Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:952aeeacfdde7689fe9d
- Deposit or zone
- Valenciana
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 280000
- Grade
- 7.6
- Grade Unit
- mlbs
- Contained Metal
- 7.6
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 1.5
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Inferred zinc resource in the Valenciana area provides future potential but has lower confidence than indicated resources, though it is NI 43-101 compliant.
Positive factors
- Inferred zinc resource in Valenciana area provides future potential
- NI 43-101 compliant
- QP signed
Negative factors
- Lower confidence category
Evidence · table
“7.6”
Context: 0.28
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredLa Negra Mine · copperTonnes: 280000Grade: 1.1Grade Unit: mlbsContained Metal: 1.1Contained Unit: mlbsView all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- copper
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Allan Armitage, Ph.D., P.Geo.
- Resource group id
- resource:952aeeacfdde7689fe9d
- Deposit or zone
- Valenciana
- Mining method
- underground
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 280000
- Grade
- 1.1
- Grade Unit
- mlbs
- Contained Metal
- 1.1
- Contained Unit
- mlbs
- Cutoff Grade
- 80
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-07-01
Metal Equivalent
- Metal Eq. Grade
- 1.5
- Metal Eq. Unit
- moz AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Inferred copper resource in the Valenciana area provides future potential but has lower confidence than indicated resources, though it is NI 43-101 compliant.
Positive factors
- Inferred copper resource in Valenciana area provides future potential
- NI 43-101 compliant
- QP signed
Negative factors
- Lower confidence category
Evidence · table
“1.1”
Context: 0.28
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Metallurgical Results (4)
flotationLa Negra Mine · silverRecovery: 83.6 %View all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Test Work
- Program Status
- detailed
- Test Type
- flotation
- Processing Route
- standard crushing, grinding, flotation, and filtration circuit producing lead-silver, copper-silver, and zinc concentrates
Recovery
- Recovery
- 83.6 %
- Recovery Basis
- actual_test
Lab
- Laboratory
- SGS North America
- Consultant
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Strong silver recovery of 83.6% achieved through conventional flotation, based on actual plant performance, indicating efficient processing.
Positive factors
- Strong silver recovery for flotation circuit
- Based on actual plant performance
- QP signed
Evidence · table
“83.6”
Context: 8.2
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
flotationLa Negra Mine · leadRecovery: 81.5 %View all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Test Work
- Program Status
- detailed
- Test Type
- flotation
- Processing Route
- standard crushing, grinding, flotation, and filtration circuit producing lead-silver, copper-silver, and zinc concentrates
Recovery
- Recovery
- 81.5 %
- Recovery Basis
- actual_test
Lab
- Laboratory
- SGS North America
- Consultant
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Strong lead recovery of 81.5% achieved through conventional flotation, based on actual plant performance, indicating efficient processing.
Positive factors
- Strong lead recovery for flotation circuit
- Based on actual plant performance
- QP signed
Evidence · table
“81.5”
Context: 81.5
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
flotationLa Negra Mine · zincRecovery: 81.9 %View all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Test Work
- Program Status
- detailed
- Test Type
- flotation
- Processing Route
- standard crushing, grinding, flotation, and filtration circuit producing lead-silver, copper-silver, and zinc concentrates
Recovery
- Recovery
- 81.9 %
- Recovery Basis
- actual_test
Lab
- Laboratory
- SGS North America
- Consultant
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Strong zinc recovery of 81.9% achieved through conventional flotation, based on actual plant performance, indicating efficient processing.
Positive factors
- Strong zinc recovery for flotation circuit
- Based on actual plant performance
- QP signed
Evidence · table
“81.9”
Context: 81.9
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
flotationLa Negra Mine · copperRecovery: 77.8 %View all detailsHide details
Identity
- Project
- La Negra Mine
- Commodity
- copper
- Region
- mexico
- Reported Region
- Querétaro, Mexico
- Ticker
- SICO
Test Work
- Program Status
- detailed
- Test Type
- flotation
- Processing Route
- standard crushing, grinding, flotation, and filtration circuit producing lead-silver, copper-silver, and zinc concentrates
Recovery
- Recovery
- 77.8 %
- Recovery Basis
- actual_test
Lab
- Laboratory
- SGS North America
- Consultant
- SGS Geological Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-21T00:00:00.000Z
Reasoning: Strong copper recovery of 77.8% achieved through conventional flotation, based on actual plant performance, indicating efficient processing.
Positive factors
- Strong copper recovery for flotation circuit
- Based on actual plant performance
- QP signed
Evidence · table
“77.8”
Context: 77.8
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
Low Recoverynegative
Recovery below the weak band for the commodity and processing route.
Why it applies: 77.8% is below the weak band (80%)
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.