Axo Metals Corp. has reported initial step-out drilling results from the San Antonio gold project in Sonora, Mexico, highlighted by hole SOSAP-26-048, which returned 46.5 metres grading 1.43 g/t Au of oxide mineralization directly from surface.

The hole was collared approximately 750 metres outside the eastern boundary of the existing Sapuchi resource at the new Luz del Cobre target. The historical Luz del Cobre pit operated between 2011 and 2018 focusing solely on copper oxide ore. Axo Metals acquired the San Antonio project in January 2026 and subsequently secured environmental impact statement approval from SEMARNAT in July 2026, providing the primary authorization required for mine construction and operation.

The company also reported further results from within the Sapuchi deposit, including hole SOSAP-26-039, which assayed 8.15 g/t Au over 18.0 metres starting 18 metres down-hole in oxide mineralization. Sapuchi is being evaluated as a potential starter-pit due to its high-grade oxide resources and favourable topography, with current drilling targeting waste block conversion and resource confidence upgrades. Three drill rigs are currently active at San Antonio.

“While the drilling in and around Sapuchi continues to report very strong results, we are excited to announce the initial assays from step out holes well outside the resource boundary” says Jonathan Egilo, President & CEO. “We are excited to follow up on these initial results at the new Luz del Cobre target. Ongoing drilling is being done both in and around the Luz del Cobre historical pit, in addition to testing the wide gap zone that sits between Luz del Cobre and Sapuchi.”

Axo Metals is continuing ongoing drilling within the base of the historical pit and the gap zone separating Luz del Cobre from Sapuchi, with assay results pending for hole SOSAP-26-080. P&E Mining Consultants are currently preparing a Preliminary Economic Assessment for the project.

Read the full announcement: Axo Metals Drilling Intercepts 18.0 Metres of 8.15 g/t Au at San Antonio Project; First Step Out Drilling Reports Strong Grades Directly From Surface 750 Metres Beyond Resource