Silver X acquires the 100% from Ccasahuasi and strengthens its gold potential in Nueva Recuperada

Silver X Mining consolidated full control of the Ccasahuasi gold project after completing the acquisition of the Lily 19 mining concession, an operation that reinforces its growth strategy within the Nueva Recuperada district in Huancavelica.

The transaction allows the company to fully assume the management and planning of one of the areas with the greatest gold potential identified within its portfolio, located a short distance from the Tangana mine, currently in production.

The acquisition was completed through a total payment of US$30,000, granting Silver X 100% ownership of the concession and the ability to proceed with future exploration activities without relying on agreements with third parties. The transaction was agreed upon with Barrick Mining Corporation and includes a royalty on net smelter returns with a partial buyback option.

The strategic importance of Ccasahuasi lies not only in the resources identified to date, but also in the growth potential that the mineralized system still presents. Currently, the project hosts an inferred mineral resource of 1.4 million tonnes at an average grade of 0.936 grams per tonne of gold, equivalent to 42,303 contained ounces of the precious metal.

One of the aspects that generates the most interest among the company's geologists is that the definition of this resource was achieved with only four diamond drill holes totaling just over 900 meters, which suggests ample room for continued evaluation of the deposit's magnitude.

The work carried out identified extensive mineralized intervals, including intercepts of 45.9 meters with 0.97 grams per ton of gold and another 42 meters with grades of 0.88 grams per ton. Furthermore, three of the four holes drilled registered mineralized zones over 26 meters thick.

For the company, the results obtained so far support the hypothesis that the mineralization could extend beyond the currently outlined area. Geological interpretations point to a possible continuity towards the south and southwest, in the direction of the Cauca and Tangana areas, where there is operational mining infrastructure that could represent advantages for eventual future development.

“This transaction is not just about the current Inferred Mineral Resource at Ccasahuasi. It's about securing control over a gold system located immediately adjacent to our producing mine, which was defined by limited drilling and remains open in directions that warrant further exploration,” said José M. García, CEO of Silver X.

With the objective of evaluating that possibility, the company has designed a conceptual drilling program of 5,320 meters, divided between surface and underground campaigns. The proposal seeks to verify the continuity of the mineralization both in depth and along its lateral extension. However, Silver X specified that this program has not yet been formally approved and does not have a defined budget or schedule.

In addition to Ccasahuasi, the company continues to evaluate other areas with gold potential within Nueva Recuperada. Among these, Carboncuyocc stands out, an exploratory target where geological characteristics associated with high-sulfidation epithermal systems have been identified, considered favorable for the presence of gold mineralization.

The consolidation of Ccasahuasi is part of Silver X's strategy to expand its gold exposure and complement its current silver and polymetallic production base. With full control of the project, the company seeks to strengthen Nueva Recuperada's profile as a diversified mining district, with the potential to host multiple precious metal assets within the same jurisdiction.