Silver Junior Extends High-Grade Silver-Gold Vein at Mexico Project

1. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
2. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

For additional disclosures, please click here.

1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Pacifica Silver Corp. (PSIL:CSE; PAGFF:OTCQB) announced assay results from 28 additional drill holes as part of its ongoing 20,000-meter Phase II diamond drilling initiative at the fully owned Claudia Silver-Gold Project in the historic El Papantón Mining District in Durango State, Mexico, according to a June 11 release.

These holes have yielded multiple strong gold-silver intercepts, and the recent exploration of the high-grade Justina vein has successfully expanded the mineralization over a 600-meter strike length, the company said. Due to the arrival of the dry season, the company has strategically reduced its drill fleet from three rigs to two, optimizing safety and efficiency while continuing robust drilling activities on key targets.

Since beginning in mid-January 2026, the fully funded Phase II program is on track to conclude in the third quarter of 2026. As of June 10, the project has completed drilling 12,750 meters across 54 holes, Pacifica said. Additionally, a 31.6 line-kilometer induced polarization (IP) and resistivity (RES) survey has been carried out over the central area of the property. This survey has pinpointed a significant high-chargeability anomaly, which the technical team is currently evaluating for potential drill targeting.

"These latest drill results represent another strong step forward at the Claudia project and highlight significant new mineralization expansion potential in the southern portion of the project," Chief Executive Officer Todd Anthony said. "We have now extended the high-grade Justina vein discovery over 600 meters of strike; delivered some of the widest mineralized intervals seen to date on the Aguilareña-Tres Reyes area, including numerous multi-meter zones carrying strong gold and silver values; and discovered new hanging-wall vein systems that were not previously recognized."

Anthony continued, "These results continue to reinforce our confidence in the scale, continuity, and significant potential of the mineralization at Claudia, which is clearly demonstrating the size and consistency required to build a meaningful resource."

Drill Result Highlights

Aguilareña (Tres Reyes) Area

• 2.85 meters at 2.30 grams per tonne gold (g/t Au) and 207 g/t silver (Ag) (405 g/t AgEq) from 167.75 meters, including 1.10 meters at 2.44 g/t Au and 369 g/t Ag (579 g/t AgEq), in hole 26CLAU095D.
• 8.90 meters at 0.94 g/t Au and 101 g/t Ag (182 g/t AgEq) from 170.05 meters, including 0.65 meters at 6.98 g/t Au and 981 g/t Ag (1,581 g/t AgEq), in hole 26CLAU107D.

Aguilareña North Area

• 3 meters at 1.79 g/t Au and 27 g/t Ag (181 g/t AgEq) from 90 meters, including 0.55 meters at 6.81 g/t Au and 59 g/t Ag (645 g/t AgEq), in hole 26CLAU109D.

Justina Vein Area

• 1.45 meters at 1.90 g/t Au and 120 g/t Ag (283 g/t AgEq) from 123.2 meters, including 0.7 meters at 2.64 g/t Au and 173 g/t Ag (400 g/t AgEq) and 0.45 meters at 5.2 g/t Au and 470 g/t Ag (917 g/t AgEq) from 145.65 meters in hole 26CLAU101D.
• 2.75 meters at 2.25 g/t Au and 12 g/t Ag (206 g/t AgEq) from 87.95 meters, including 1 meter at 4.72 g/t Au and 16 g/t Ag (422 g/t AgEq), in hole 26CLAU094D.
• 0.5 meters at 3.35 g/t Au and 600 g/t Ag (888 g/t AgEq) from 104 meters in hole 26CLAU110D.

Drilling Making Significant Progress

Phase II drilling at the Aguilareña-Tres Reyes vein system has been making significant progress, successfully extending the mineralization 50-100 meters down-dip from previous drilling efforts across a 1-kilometer strike length, the company noted in the release. This phase of drilling has effectively filled in gaps laterally and expanded the vein system beneath the historical Aguilareña and Tres Reyes underground workings. The results confirm the vein's strong continuity both at depth and along the strike within the broader 1.9-kilometer area established by earlier Phase I and 2021 drilling efforts.

Overall, the Phase II drilling results have been promising, showing improved mineralized widths and strong gold-silver grades on both sides of the Aguilareña shaft, Pacifica said. The drilling has extended the Aguilareña-Tres Reyes vein significantly below the historical workings and confirmed a richly mineralized hanging-wall vein system. The vein system remains open both down-dip and along strike, indicating a substantial potential for further expansion of the known mineralization in this priority target area.

Exploratory drilling in the Contraria Vein Zone has involved five holes that tested multiple narrow veins. Notably, Hole 26CLAU100D intersected a distinct style of mineralization with strong zinc-lead values, marking the first significant encounter of base-metal mineralization at the project. This discovery suggests the potential proximity to a different mineralizing system and opens new avenues for exploration in this underexplored sector of the property.

Furthermore, Pacifica Silver Corp. has completed a 31.6 line-kilometer induced polarization/resistivity (IP/RES) geophysical survey, the first ever conducted at the Claudia property. Conducted by Zonge International, the survey comprised 10 lines and was designed to delineate the extensive vein systems and identify potential non-outcropping targets for future drilling. The technical team is currently analyzing the data, which is expected to significantly influence the targeting of future drilling operations.

A 'Mega-Batch' of Assays

Ted Butler, senior analyst for The Silver Advisor, reported on June 11 that Pacifica Silver has scored "a mega-batch" of assays in the results.

Pacifica has notably extended the high-grade Justina vein by 600 meters and the Aguilareña vein by 1.9 kilometers, confirming a combined 2.5 kilometers of high-grade mineralization across these two structures, Butler wrote. Focusing on the Justina vein, which has captured attention since its discovery in early 2025, six strategically placed holes have expanded the confirmed mineralization from 26CLAU094D in the north to 26CLAU104D in the south.

In addition to the vein discoveries, Pacifica Silver has completed its inaugural IP/RES geophysical survey at Claudia, covering 31.6-line kilometers. This survey pinpointed a significant anomaly in the southern area of the project, with plans to begin drilling tests very soon.

For shareholders, the implications of these findings are substantial, Butler said. With the confirmation of two high-grade vein systems spanning over 2.5 kilometers, the new base-metal discovery, and a drill-ready IP anomaly, the scope of Claudia's potential has dramatically widened. These latest results build on the April findings, which included significant hits such as 0.35 meters at 1,258 g/t AgEq and 1.50 meters at 896 g/t AgEq, providing a robust foundation for further exploration.

"Pacifica shares are up 5% today, a massive sign of strength against the current of a 2% down day for silver," he wrote. "As of June 10, 12,750 meters have been drilled across 54 holes at Claudia, with the fully funded Phase II 20,000-meter program on track for completion in Q3 2026. Only 10% of Claudia's 30+ kilometers of known veins have ever been drilled, meaning the runway for further discovery remains vast."

He continued, "With this in mind, I maintain my overweight position, while Peter (Krauth) holds a full weighting."

The Catalyst: A Potential Bullish Reversal in the Silver Market?

XAG/USD is experiencing a positive trend for the third day in a row, with its price hovering around US$70.30 per troy ounce during Monday's Asian trading session, according to a report by Akhtar Faruqui for FX Empire on June 15. A technical analysis of the daily chart indicates that the spot price of silver is breaking out from a descending wedge pattern, which may signal a potential bullish reversal in the market.

Despite this breakout, the near-term outlook for the XAG/USD pair remains bearish as it continues to trade below the 50-day Exponential Moving Average (EMA), currently finding some support at the nine-day EMA, Faruqui wrote. The 14-day Relative Strength Index (RSI) is positioned at 45.05, remaining under the neutral 50 mark, which suggests that any upward movement might be limited and that the price could face difficulties in sustaining gains while it stays beneath the medium-term EMA.

Should silver prices manage to surpass the 50-day EMA at US$74.55, it would confirm a stronger bullish sentiment, potentially paving the way for the pair to approach the three-month peak of US$90.03 set on March 10. On the flip side, if the price retreats within the confines of the falling wedge pattern, immediate support is anticipated at the nine-day EMA of US$69.16, the report noted. A further decline could exert downward pressure on silver, leading it towards the lower boundary of the wedge around US$61.80, and possibly extending losses to the six-month low of US$61.01.

On Monday, July futures for silver (SI=F) commenced trading at US$68.90 per ounce, marking a 1.4% increase from Friday's closing figure of US$67.97, reported Tim Manni on June 15 for Yahoo! Finance. The price of silver ascended further in early trading, reaching US$70.75 by 7:16 a.m. ET.

This rise in silver prices mirrors movements in the gold market, both metals climbing in response to geopolitical developments. Notably, a ceasefire deal announced between the U.S. and Iran has raised hopes for a formal agreement potentially being signed within the week. This pivotal move towards enduring peace in the Middle East has led to a decrease in oil prices (BZ=F) and a slight alleviation of inflation concerns. With the Federal Reserve likely to maintain steady interest rates in the upcoming week, the outlook for precious metals like silver appears increasingly favorable, according to the report.

To provide a broader perspective on silver's recent performance, the opening price on Monday showed a 1.4% increase from the previous Friday. Over the past week, silver prices have risen by 2.1%. However, comparing the current price to one month ago reveals a 14.5% decline, Manni wrote. Despite this recent dip, silver's value has surged by 90.3% compared to the same date last year, a significant rise from the 173.3% year-over-year growth recorded on May 14.

Ownership and Share Structure¹

Pacifica Silver Corp. has a market cap of CA$68.46 million, with 60.59 million shares outstanding. The company's 52-week range is CA$0.35-CA$2.48.

Institutions hold 16% of shares, while Management and Insiders own 11%. Strategic Investors own 17% of shares. The rest is retail.