- Silver X Mining Corp. (TSXV:AGX) reports a significant 70% increase in contained silver within its Nueva Recuperada Project.
- Inferred resources grew by 45% to 17.18 million tonnes, boosting contained silver by 50% to 88 million ounces.
- Zinc in measured and indicated resources surged by 100% to 94.7 kT, highlighting the project's multi-metal potential.
Silver X Mining Corp. (TSXV:AGX), a rapidly growing silver producer-developer, has filed a comprehensive NI 43-101 technical report for its Nueva Recuperada Project in Huancavelica, Peru. This report substantiates the previously announced increase in the mineral resource estimate, marking a notable expansion in both measured, indicated, and inferred resources, particularly at the Plata Mining Unit.
The report, effective as of October 1, 2024, delineates an 18% increase in measured and indicated resources, now totaling 4.26 million tonnes, with a substantial 70% growth in contained silver reaching 14.00 million ounces (Moz). Inferred resources have also risen by 45%, measured in ore tonnage from 11.89 million tonnes to 17.18 million tonnes, alongside a 50% jump in contained silver to 88.00 Moz.
Significant progress was noted within the Plata Mining Unit, where indicated resources have reached 0.95 million tonnes at 6.11 ounces per ton of silver (5.81 Moz). Inferred resources at this unit saw an increase to 5.39 million tonnes at 4.82 ounces per ton silver, accumulating a total of 26.00 Moz. Such developments underscore the strategic importance of the Plata Mining Unit, enhancing the overall resource base of the Nueva Recuperada Project.
The report also highlights substantial growth in base metals, with zinc (Zn) in the measured and indicated categories increasing by 100% to 94.7 kT, and lead (Pb) rising by 25% to 80.1 kT.
Jose M. Garcia, CEO of Silver X, emphasized the strategic significance of these findings, stating, "The updated resource estimate for Nueva Recuperada confirms the strategic significance of the Plata Mining Unit within what is rapidly becoming one of the most relevant silver districts in South America." He added that the recent acquisition of Minera Kolpa by Endeavor Silver testifies to the considerable untapped potential in the region, representing a formidable investment opportunity for Silver X.
The full technical report is accessible under the company’s profile on SEDAR+ and on Silver X's official website.
