Silverco Mining Ltd. (OTCQB: SICOF) has filed a National Instrument 43-101 Technical Report for its La Negra Project in Querétaro, Mexico. The report, effective July 1, 2026, outlines a Preliminary Economic Assessment (PEA) prepared by independent Qualified Persons from SGS Canada Inc. The report is available on SEDAR+ and the company's website.
The PEA highlights attractive base case economics, with an after-tax net present value (NPV) of $329 million and after-tax free cash flow of $438.8 million at a silver price of $50 per ounce. The project boasts an average annual production of 4.1 million ounces of silver equivalent over an 8.2-year mine life, with 65% of revenue derived from silver. The life-of-mine all-in sustaining costs are $24.86 per ounce of payable silver equivalent.
The initial capital requirement is $20.9 million, with only $4.7 million needed to be funded off the balance sheet at the spot price case. The project features indicated resources of 15.23 million tonnes at 201 grams per tonne of silver equivalent, totaling 98.2 million ounces, and inferred resources of 2.26 million tonnes at 174 grams per tonne, totaling 12.6 million ounces. Silverco also identifies multiple opportunities for optimization, including mine plan optimization and exploration upside from high-grade silver targets.
Silverco Mining is a Canadian silver producer focused on building a leading multi-asset silver portfolio in Mexico. The company owns the producing La Negra Mine and the past-producing Cusi Silver Complex, with plans to restart production at Cusi in the second half of 2026. Led by an experienced management team, Silverco aims to become a significant primary silver producer in the Americas and a 10-million-ounce per year silver equivalent producer within three years.