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Silverco Mining Down 4.5% After Starting Exploration Drilling at the La Negra Project

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Silverco Mining (SICO.V) shares fell 4.5% after saying Monday it started its surface and underground exploration drills at its La Negra project in Queretaro, Mexico.

Surface drilling will initially focus on the Valenciana target, located less than one kilometer northwest of existing underground workings, while underground drilling will test multiple target areas proximal to existing mine development, including Maravillas, Valeria, and Blanca, it said. The company plans to fly a property-wide LiDAR survey.

"With two rigs now active as part of a planned 15,000 metre 2026 program, we are focused on testing high-grade silver zones with potential to feed into the mine plan early in the mine life and additional priority targets," said Chief Executive Mark Ayranto. "Through the remainder of H2 2026 we expect initial results from this program, an updated mineral resource estimate and a life-of-mine plan for La Negra."

The company's shares were last seen down C$0.33, or 4.5%, to C$7.01 on the TSX Venture Exchange.

Price: $7.01, Change: $-0.33, Percent Change: -4.50%

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