Silverco Mining has transitioned the Cusi property in Chihuahua, Mexico, into the execution phase of its restart, with overall progress reaching 68% as of late July.

Contractors have commenced underground mining activities, with the first development blast recently completed along the main Promontorio ramp. The company reports the project remains on budget and schedule, with an upfront capital requirement of US$19.2 million.

Refurbishment of the Mal Paso processing plant is more than 65% complete. Ongoing activities for the remainder of the third quarter include ramping up underground development, finalising plant upgrades, and preparing for the San Miguel portal. The initial blast at the San Miguel portal is expected imminently.

“The Cusi restart has moved from preparation into execution. Contractors and equipment are active underground, our first blast is now complete, our primary ventilation fans are on site, and the Mal Paso plant is well past the halfway mark of its refurbishment. Importantly all of this work has been delivered safely with zero lost time injuries. We remain on budget and schedule and our focus through the remainder of Q3 2026 is ramping up development, opening the San Miguel portal, and finishing the plant refurbishment so that we can deliver first concentrate in Q4 2026 and exit the year with two producing silver mines in Mexico.”

— Mark Ayranto, CEO

Read the full announcement: Silverco Mining Begins Underground Development at Cusi, Restart Remains on Budget and on Schedule