Mercado Minerals Ltd. has returned initial surface chip sampling results from its first reconnaissance field program at the Zamora project in Sinaloa, Mexico, highlighted by 1.00 metre grading 828 g/t silver and 760 g/t silver-equivalent.

The ongoing reconnaissance program is designed to verify historic high-grade results reported by previous operators at the Campanillas Vein and expand the known zone of mineralisation along strike. Systematic mapping and sampling have successfully mapped a 300-metre strike length of the vein, effectively doubling its known strike length compared to previous underground workings.

Surface chip sampling across the vein and wallrock returned true widths ranging from 0.60 to 2.40 metres, with silver grades spanning between 2 and 828 g/t, alongside gold values from 0.04 to 1.66 g/t. A broader composite interval returned 2.40 metres at true width grading 528 g/t silver and 0.75 g/t gold, equal to 536 g/t silver-equivalent. An additional high-grade interval yielded 1.00 metre of 410 g/t silver and 1.66 g/t gold, representing 497 g/t silver-equivalent.

Silver-equivalent grades are calculated assuming recoveries of 91% for silver, 94% for gold, 70% for lead, and 75% for zinc based on analogous epithermal deposits, as no formal metallurgical work has been reported on the property.

“These initial surface results are highly encouraging and confirm the high-grade nature of the Campanillas Vein. Grades as high as 828 g/t silver confirm the exceptional grade potential we identified at Zamora, and our sampling extends mineralization beyond the historic underground workings, pointing to a larger high-grade mineralizing system along the broader vein trend.”

— Daniel Rodriguez, CEO & Director

Mercado initiated the acquisition of the Zamora project in July 2025 as part of a transaction to acquire 100% of Concordia Silver Company S.A. de C.V. The company's wholly owned subsidiary subsequently entered into a community access and exploration agreement with the local Ejido Rincon de Ibonia for the Campanillas area, requiring an annual fee of 100,000 MXN pesos. Following this agreement, Mercado is positioned to advance and complete the drilling permit process at the property.

The company plans to extend systematic surface sampling and mapping to the remaining current concessions across the project area. Mercado is currently trading at $0.135, up 12.50%.

Read the full announcement: Mercado Minerals Announces Initial Surface Results from the Zamora Project, Highlights 1.00 Metre of 828 g/t Silver at the Campanillas Vein