Canadian miners in Mexico Snapshot: Eight companies to watch

Its strong infrastructure, long mining heritage and prospective mineral belts draw explorers and miners from near and far. Here are eight companies with exploration, development and producing projects in the country.

Golden Tag Resources

Golden Tag Resources (TSXV: GOG) is a Toronto-based explorer holding its 100%-owned San Diego project in Durango state, subject to a 2% net smelter return to Golden Minerals (TSX: AUMN, NYSE: AUMN). The project, located 75 km southwest of Torreon in the state of Coahuila has a 2013 historic resource of 16.5 million tonnes grading 60 grams silver per tonne, 0.71% lead, 1.22% zinc and 105 grams silver equivalent per tonne for 55.5 million oz. of silver equivalent. Its inferred resource totals 42 million tonnes grading 115 grams silver equivalent per tonne for 160 million oz. of silver equivalent. The resource estimate was based on 33,000 metres of diamond drilling since 2005 and was completed by SGS Canada.

Golden Tag expects to complete the acquisition of the La Parrilla Silver Mine Complex in Durango from First Majestic Silver (TSX: FR; NYSE: AG; FSE: FMV) in late August. The two companies, together with First Majestic Plata entered into a definitive asset purchase agreement for La Parrilla in December 2022.

La Parrilla is a fully permitted former producing mine complex consisting of five high-grade underground silver mines and an open pit that operated continuously from 2004 to September 2019 when it was placed on care and maintenance due to low silver prices.

The complex has a historic measured and indicated resource of 1.1 million tonnes grading 277 grams silver equivalent per tonne for 9.95 million oz. of silver equivalent, and inferred resources of 1.4 million tonnes grading 274 grams silver equivalent per tonne for 12.5 million oz. of silver equivalent.