Pan American Silver finds high-grade veins at La Colorada mine

Pan American Silver Corp. (PAAS) reported discovering four new high-grade silver veins at its La Colorada mine in Zacatecas, Mexico, according to a press release statement.

The company completed 17,774 meters of drilling in 38 holes between November 2025 and January 2026 in the southeastern and eastern Candelaria zones. The exploration identified the Filomena, Nicolasa, Bernardina and Josefina veins, which span approximately 500 meters in strike length and 500 meters in vertical extent.

Silver assays exceeded 1,000 grams per tonne in 40% of the reported drill holes. Notable results included drill hole S-161-25 with 1.03 meters at 9,730 grams per tonne silver and 6.19 grams per tonne gold from the Cristina vein, and drill hole S-171-25 with 5.13 meters at 1,000 grams per tonne silver from the Filomena vein.

The drilling also identified the La Chona Breccia, a brecciated zone with estimated widths of 10 to 65 meters. Drill hole S-176-25 returned 65.63 meters at 101 grams per tonne silver from this zone.

Pan American is conducting an underground development program including a new exploration crosscut on Level 588, which had advanced 170 meters by January 2026. A second crosscut on Level 448 was initiated in the first quarter of 2026.

The company plans to incorporate these results into its mineral reserve and resource update as of June 30, 2026. Christopher Emerson, Senior Vice President of Exploration and Geology, stated the discoveries support a revised phased development plan targeting higher grade zones at La Colorada.