Guanajuato Silver Company Ltd. (TSX: GSVR, OTCQX: GSVRF) has achieved a significant milestone in expanding its mining operations at the San Ignacio mine in Guanajuato, Mexico. The company has completed development work to access the high-grade Santo Niño vein, marking a crucial step in enhancing its production capabilities.
The development of the Santo Niño vein involved advancing the 430 Ramp to the Purisima vein and then extending it further to reach the Santo Niño vein. This new mining area offers higher gold content, providing Guanajuato Silver with access to a more lucrative resource. The Santo Niño vein is part of the La Luz structure, a prolific mineralized system that has been a cornerstone of silver and gold mining in the Guanajuato region since the 1540s.
In 2025, Guanajuato Silver plans to focus its exploration efforts on infill drilling in the Melladito North area, exploring deeper extensions of the Nombre de Dios veins, and evaluating additional veins west of Santo Niño. These initiatives will be supported by geophysical surveys and geological surface mapping, aiming to further unlock the potential of the San Ignacio mine.
The San Ignacio mine boasts significant mineral resources. As of the 2023 Mineral Resource Estimate (MRE), the mine contains Measured and Indicated Resources of approximately 7.62 million ounces of silver equivalent (AgEq) at a grade of 300 g/t AgEq, and Inferred Resources of about 22.17 million ounces AgEq at 318 g/t AgEq. These figures represent substantial increases over previous estimates, with a 130% rise in Measured and Indicated Resources and a 283% increase in Inferred Resources.
Guanajuato Silver is positioned as a major player in the Mexican precious metals sector, operating four mines and three processing facilities. The company’s focus on reactivating past-producing mines has contributed to its rapid growth as a silver producer in Mexico. With the development of the Santo Niño vein, Guanajuato Silver is poised to enhance its production economics and expand its mining footprint in the region.
The successful development of the Santo Niño vein not only opens up new mining opportunities but also underscores the potential for further discoveries in the area. As Guanajuato Silver continues to explore and develop its assets, it is likely to remain a key player in Mexico’s mining industry, leveraging its strategic locations and growing resource base to drive future growth.
