30th January 2026 Latin America Newsletter
30th January 2026 Latin America Newsletter
Featured News
Rio2 (TSX:RIO)
Made its first Au pour from its Fenix mine in the Maricunga region. Construction of critical path items were completed on time and on budget, with the pour yielding 897oz in addition to the 358oz produced in December as part of plant commissioning, and two pours that produced 131oz Ag. RIO is now ramping Fenix to 20ktpd of ore over the remainder of the year and is targeting production of 60-70koz for 2026.
Mergers & Acquisitions
Equinox Gold (NYSE-A/TSX:EQX)
Completed the sale of the Aurizona mine, RDM mine and Bahia Complex to CMOC Group for US$1.015B. EQX received $900M and will receive a production linked contingent cash payment of $115M in January 2027. EQX will immediately fully repay its $500M term loan, $300M to extinguish the Sprott Loan, and make a payment on its RCF to reduce its senior debt to $580M and significantly lower interest expense.
Goldgroup Mining (TSXV:GGA)
Entered into a definitive agreement to merge with Gold Resource (NYSE-A:GORO) to become a Mexico-focused junior precious metals producer. GRC stockholders will receive 1.4476 shares of GORO for each share held that represents a value of US$2.25 per share, a 39% premium, and $372M fully diluted in-the-money valuation. The transaction was unanimously approved by the boards of directors of Goldgroup and GRC.
Assets will include GRC’s producing Don David Au mine in Oaxaca and the advanced-stage Back Forty project in Michigan, USA, and GGAs Prieto Mine and recently acquired San Francisco Mine. Cerro Prieto and San Francisco are in Sonoro. “Don David is a high-quality producing Au-Ag mine, and the transaction meaningfully increases our scale, diversification and cash-flow profile while also providing a clear pathway to a NYSE-A listing,” said CEO Ralph Shearing.
Finance
Andean closed C$95.6M secondary offering
Andean Precious Metals (TSX:APM) closed a bought deal secondary offering of 9.1M shares by PMB Partners @ C$10.50 for proceeds of $95.6M, including the full exercise of the underwriters’ option, as an initiative to increase the free float of the company to enhance liquidity. The proceeds were paid to the selling shareholder, with APM not receiving any proceeds.
Silver X to raise C$60M
Silver X Mining (TSXV:AGX) entered a best efforts private placement of up to C$60M of secured five-year convertible debentures bearing interest at 10% per annum. The principal will be convertible @ $1.62 per share. Proceeds will fund advance the Nueva Recuperada property in Peru.
Highlander raised US$40M from Eric Sprott
Highlander Silver (TSX:HSLV) said Eric Sprott agreed to purchase 8M shares @ C$6.80 for proceeds of US$40M on a non-brokered private placement basis. Proceeds will help accelerate growth plans at the San Luis Au-Ag and Corani Ag project in Peru.
Silverco to raise C$40M
Silverco Mining (TSXV:SICO) entered a bought deal of 3.2M shares @ C$12.50 for proceeds of $40M. Proceeds will fund exploration, evaluation, and restart work on the Cusi Ag-Au-Pb-Zn project in Chihuahua, Mexico.
Apollo raised C$27.5M
Apollo Silver (TSXV:APGO) closed the second and final tranche of an upsized non-brokered private placement and issued 2.5M units @ C$5.00 for proceeds of $12.5M to bring the total to $27.5M. Jupiter Asset Management subscribed for all the second tranche and now owns 11.9% of the stock on a non-diluted basis. Each unit consists of one share and a warrant exercisable @ $7 for two years.
AXO to raise C$25M
AXO Copper (TSXV:AXO) announced a bought deal of 35.7M units @ 70c for proceeds of C$25M. Each unit is comprised of one share and half a warrant exercisable @ $1 for 18 months. Proceeds will fund exploration and advancement of its La Huerta Cu project in Jalisco and San Antonio Au project in Sonora.
C3 to raise C$24.3M
C3 Metals (TSXV:CCCM) upsized a bought deal private placement to 22.1M shares @ C$1.10 for proceeds of C$24.3M. Proceeds will be used for exploration and development activities at its Khaleesi Cu-Au project in Peru and development at its 50%-owned Super Block project in Jamaica.
Argenta raised C$23M
Argenta Silver (TSXV:AGAG) closed a bought deal private placement of 28.8M shares @ 80c for proceeds of C$23M, including the full exercise of the over-allotment option.
Aldebaran to raise C$35M
Aldebaran Resources (TSXV:ALDE) entered a bought deal private placement upsized from C$20M to 10.8M shares @ C$3.25 for proceeds of $35M. In addition, the company intends to complete a non-brokered private placement of 16.8M shares at the issue price in connection with the exercise of contractual participation rights. The company intends the proceeds to complete a PFS on its Altar Cu-Au project in San Juan, Argentina.
Chesapeake raised C$17.3M
Chesapeake Gold (TSXV:CKG) closed a bought deal offering of 4.1M units @ C$4.20 for proceeds of $17.3M including full exercise of the over-allotment option. Each unit consists of one share and half a warrant exercisable @ $5.65 for three years. CKG also completed a non-brokered private placement with Eric Sprott of 685k units @ $4.20 for proceeds of $2.8M with the same warrant. Proceeds will advance CKGs proprietary oxidative leach technology, the Metates project in Mexico and the Lucy project.
Mogotes raised C$11.5M
Mogotes Metals (TSXV:MOG) closed a bought deal private placement of 36M units @ 32c for proceeds of C$11.5M, including the full underwriters option. Each unit consists of one share and half a warrant exercisable @ 53c for three years. Proceeds will be used for exploration of the Filo Sur property in San Juan, Argentina.
Lavras raised C$10M
Lavras Gold (TSXV:LGC) closed a bought deal of 2.9M shares @ C$3.40 for proceeds of $10M. Proceeds will fund project development, exploration and resource drilling at the LDS project in Rio Grande do Sul, Brazil.
Kingsmen to raise C$10M
Kingsmen Resources (TSXV:KNG) entered a bought deal of 4.4M units @ C$2.25 for proceeds of $10M. Each unit will consist of one share and half a warrant exercisable @ $3 for three years. Proceeds will advance the Las Coloradas and Almoloya projects in the Parral region of Chihuahua, Mexico.
Panoro to raise C$4M
Panoro Minerals (TSXV:PML) announced fully subscribed non-brokered private placement of 10M units @ 40c for proceeds of C$4M. Each unit will consist of one share and a warrant exercisable @ 60c for three years. Proceeds will fund exploration and development of the Cotabambas project in Peru.
Exploration News
AbraSilver Resource (TSX:ABRA)
Announced final assays from Phase V diamond drilling at its Diablillos Ag-Au project in Salta, which will be incorporated into the upcoming resource estimate and FS due for completion in 2Q26. Highlights included 17m @ 432g/t Ag & 1.1g/t Au in hole 104 at JAC. “The final Phase V drill results further demonstrate the potential for incremental resource growth at JAC and along the corridor between JAC and Oculto,” said president & CEO John Miniotis.
Orestone Mining (TSXV:ORS)
Initiated Phase I exploration on the Francisca Au project in Salta consisting of detailed mapping and sampling of a 200x500m grid covering the surface exposure of the South Au zone.
Orvana Minerals (TSX:ORV)
Said a IP and Magnetotelluric geophysical survey at the Taguas project in San Juan outlined a N-S trending corridor characterized by elevated chargeability and a deep zone of moderate to low resistivity. ORV has begun its first deep drilling program at Taguas to find out whether these signals are related to a potential deep porphyry Cu-Au system.
Golden Goose Resources (CSE:GGR)
Entered a definitive agreement with Valcheta Exploraciones to acquire up to a 100% interest in the Gran Esperanza epithermal Au-Ag property in Río Negro near the Patagonia Gold’s (CSE:PGDE) Calcatreu project that is under development. GGR will pay US$1.9M in staged payments and make $2.6M of exploration expenditures.
Eloro Resources (TSX:ELO)
Eloro Resources (TSX:ELO) paid all option payments to Empresa Minera Villegas to complete the option to acquire a 99% JV interest in the Iska Iska Ag-Sn-polymetallic project in Potosí. ELO made the final payment of US$1.15M and transferred $1.8M into a trust account for payment within 12 months after Minera Villegas obtains the mining rights over the Mina Casiterita and Mina Hoyada mining areas.
GoldMining (NYSE-A:GLDG)
Reported additional assays from 2025 drilling at its São Jorge Au project in the Tapajós district in Pará. Highlights included 19m @ 1g/t Au in hole 25 within a broader zone of 73m @ 0.54g/t in hole 25 was drilled beneath the existing mineral resource estimate pit shell and one of the deepest drill intercepts to date. Processing of IP data collected in 2025 confirms a broad chargeability high anomaly at William South that extends more than 1km. “We’re encouraged by the potential for additional systematic drilling to potentially extend the mineral resource deeper,” said CEO Alastair Still.
Cabral Gold (TSXV:CBR)
Announced results from six diamond drill holes at the Jerimum Cima target within the Cuiú Cuiú Au district in Para. Highlights included 9.5m @ 5.74g/t and 14.4m @ 0.62g/t in hole 359 that extended the eastern limit to the mineralized zone by 175m. Au mineralization at Jerimum Cima has now been traced over a strike length of 750m. “The Jerimum target is emerging as an important discovery at Cuiú Cuiú. … Not only do the drilling and trenching results thus far indicated the presence of an important Au-in-oxide blanket but also a significant underlying Au deposit in the primary intrusive rocks,” said president & CEO Alan Carter.
Bravo Mining (TSXV:BRVO)
Said Presidential Decree 12,823 created the Export Processing Zone of Barcarena (ZPE Barcarena) in Pará where BRVO was selected as the first mineral project to be designated an anchor tenant of a ZPE. BRVO outlined an alternate case development scenario in its 2025 PEA for local processing and vertical integration of metals potentially produced from the Luanga PGM+Au+Ni project. ZPE Barcarena is an industrial district that hosts fertilizer and chemical producers, many of which rely on imported sulphuric acid.
This creates a potential local market for sulphuric acid produced as a by-product of the smelting process. The PEA assumed a sulphuric acid sales credit of US$160/t, while recent market prices have reached US$440/t. Providing a local source of acid could potentially benefit the local fertilizer producers and BRVOs margins. “This development further reinforces our confidence in the long-term strategic positioning of Luanga,” said chair & CEO Luís Azevedo.
Altamira Gold (TSXV:ALTA)
Reported assays from resource-extension drilling at the Cajueiro Central project in Mato Grosso. The first five diamond drillholes targeted extensions and resource infill
Hole CJO 114, drilled outside the current resource, returned 7.5m @ 1.02g/t gold from 1.9m depth and 5m @ 1.46g/t gold from 112m depth, confirming that mineralization extends beyond the existing resource boundaries. Highlights included 2.3m @ 6.1g/t Au in hole 117. “Results confirm the style, width and grade of structures extending laterally beyond the existing resource. Our objectives are to add additional ounces to the current inventory and to increase confidence in the existing resource estimate by converting Inferred resources to Indicated resources,” said CEO Mike Bennett.
Ivanhoe Electric (NYSE-A/TSX:IE)
Signed a collaboration and exploration agreement with Sociedad Química y Minera de Chile (NYSE:SQM) to explore for Cu. SQM produces Li, potassium nitrate and iodine from mining operations around the Atacama Salar and has one of the largest portfolios of mining concessions in the country. Caliche is a surface deposit of sediments cemented by salts, making it highly electrically resistive and impeding the penetration of low-power geophysical transmitters and their ability to detect underlying sulfide mineralization.
The collaboration will use IEs Typhoon geophysical surveying system to search for qualifying Cu deposits for an initial three-year term. A qualifying deposit is one with the potential for at least 1Mt of contained Cu or CuEq. It will be funded by SQM with an initial US$9M. Upon identifying a qualifying deposit, IE will have the option to acquire a 50% interest and form a 50/50 JV with SQM by paying a price equal to twice SQM’s exploration expenditures to date. SQM would contribute the relevant mining concessions and associated exploration data. Thereafter, the joint venture will be funded pro rata.
Marimaca Copper (TSX:MARI)
Announced results from Phase II drilling at the Pampa Medina deposit that consists of drilling on a 300m x 300m grid across a 1.6km by 1.4km area of interest. Drilling intersected significant extensions to the Pampa Medina oxide footprint in a new zone. Drilling intersected broad zones of oxide mineralization in an area previously considered to be low potential.
Highlights included 162m @ 0.61% Cu in oxides in hole 30, including 36m @ 1.04%. Given the potential for oxide growth at Pampa Medina, MARI is re-evaluating the scope of the Pampa Oxide PEA to evaluate the opportunity to increase the scale to capture a potentially larger oxide opportunity. “Our understanding of this unique deposit is constantly improving as we move into the Phase II exploration program. There is a compelling opportunity to expand the known oxide mineralization at Pampa,” said VP exploration Sergio Rivera.
ATEX Resources (TSXV:ATX)
Expanded the land package adjacent to its Valeriano Cu project in the Atacama Region. The Nuevo Horizonte claims include two defined porphyry targets. ATEX’s land position now covers 25,000 hectares and it is commencing a geophysical survey over these new targets.
Collective Mining (NYSE/TSX:CNL)
Announced assays for two directional diamond drill holes designed to continue expanding the high-grade Ramp Zone to 300m of strike by 100m width by 310m vertically at the base of the Apollo system at the Guayabales Au-Cu project in Caldas. Highlights included 58.1m @ 21.33g/t Au within hole 143-D3. “The Apollo system continues to showcase its extraordinary potential with impressive high-grade mineralization extending over 1.4km from surface. Today’s results represent the highest-grade and deepest intercept drilled to date at Apollo—a compelling indicator of the vast untapped upside yet to be uncovered,” said executive chair Ari Sussman.
Aris Mining (TSX:ARIS)
Said Ian Telfer retired from the board and stepped down as chair. Founder Neil Woodyer has been appointed chair & CEO. David Garofalo has been appointed as lead independent director. Doug Bowlby was promoted to president, with the COO role eliminated with Richard Thomas leaving the company.
co Mining Reports Multiple Higher-Grade Intercepts up to 10.20m of 6.26% Cu, 8.50 g/t Au and 10.0m of 6.77% Cu, 3.39 g/t Au and Continues to Extend the Ore Body at El Roble Mine in Colombia
Atico Mining (TSXV:ATY)
Announced results from 21 drill holes completed in 2025 within an area of historical mining, expanding the tonnage at the El Roble Cu mine in Choco. Highlights included 10.2m @ 6.26% Cu & 8.5g/t Au in hole 346. “These assays reinforce our confidence that higher-grade Cu & Au mineralization extends beyond the historical footprint,” said CEO Fernando Ganoza.
Tiger Gold (TSXV:TIGR)
Said a third diamond drill rig arrived at its Quinchía Au project in Risaralda and began drilling at the Dos Quebradas target as part of the 10,000m Phase 1 program, with an initial 1,000m to strengthen the geological framework, and refine the exploration model.
TIGR also reported assays from Tesorito where hole 69 intersected 307.1m @ 0.7g/t Au from 8 m downhole, including 82.7m @ 1.4g/t increasing the sulphide intensity encountered at depth. “Increasing sulphide intensity and locally elevated chalcopyrite at depth may indicate proximity to a higher-grade feeder structure, providing an additional vector for targeted follow-up drilling,” said president & CEO Robert Vallis.
Andina Copper (TSXV:ANDC)
Said a comprehensive exploration programme is underway at Cobrasco in Choco to delineate a major Cu deposit. Drone LiDAR and aero photogrammetry are underway with an airborne magnetotelluric and ground-based IP geophysical surveys at the Cobrasco Central target area. Diamond drilling is underway.
Copper Giant Resources (TSXV:CGNT)
Announced assays from drill hole 53, the first drill completed at the La Estrella target, and hole 54 at the S edge of the current the Mocoa porphyry system resource in Putumayo that returned grades above the 2026 resource block model. Highlights included 61m @ 0.41% Cu & 0.04% Mo for a 0.61% CuEq within a broader interval of 253m @ 0.40%. “The 2025 program delivered a major milestone for Mocoa, advancing the project beyond the 1Bt resource mark. … We enter 2026 with a stronger geological model, clear growth vectors, and an aggressive drill strategy focused on conversion and expansion,” said VP exploration Edwin Naranjo.
Solaris Resources (NYSE:SLSR)
Said Ecuador’s state-owned mining company, ENAMI granted it an option to acquire up to a 100% interest in a portfolio of exploration adjacent to its Warintza Cu project. This expands its footprint around Warintza by 40,000ha. Early stage prospecting identified Cu anomalies with rock samples returning up to 8.38% Cu.
Minaurum Silver (TSXV:MGG)
Announced an inferred resource at its Alamos Ag project in Sonora of 5.37Mt @ 202g/t Ag, 0.21g/t Au, 0.43% Cu, 0.97% Pb & 2.01% Zn for a 320g/t AgEq containing 34.8Moz Ag, 36koz Au, 51Mlb Cu, 115Mlb Pb & 238Mlb Zn, or 55.2Moz AgEq using consensus pricing of US$29.73/oz Ag, $2,646/oz Au, $4.34/lb Cu, 92c/lb Pb & $1.21/lb Zn. MCG said growth potential in the Promontorio, Travesia and Europa vein zones will be targeted through an ongoing Phase II 50,000m resource expansion drill program. “The estimate establishes Alamos as a high-grade Ag district with a rare combination of grade and width, with each of the vein zones included remaining open for expansion,” said president & CEO Darrell Rader.
Avino Silver & Gold Mines (NYSE-A/TSX:ASM)
Reported six drill holes for 1400m from the La Preciosa project in Durango with highlights of 4.9m @ 585g/t Ag & 0.65g/t Au in hole 12. “The significant widths at La Gloria have us reconsidering our selected underground production mining method, which has the potential for larger tonnage per blast and lower mining costs. The Ag grade continues to surprise to the upside with significantly higher grades compared to the average in our current mineral resource. These holes will also be outside of the upcoming mineral resource update,” said president & CEO David Wolfin.
Southern Silver Exploration (TSXV:SSV)
Reported assays from an additional four holes that tested the Puro Corazon claim and returned intervals of high-grade and strongly Ag-enriched polymetallic mineralization. Highlights included 15.3m @ 195g/t Ag, 0.3% Cu, 6.6% Pb & 9% Zn for a 58g/t AgEq in hole. “These latest drill results continue to demonstrate the lateral and down-dip extensions of mineralization below and along strike of the existing Puro Corazon workings,” said VP exploration Rob Macdonald.
Tocvan Ventures (CSE:TOC)
Announced the first results from maiden drilling on the North Block of the Gran Pilar project in Sonora. Results include multiple wide Ag‑bearing intervals, with highlights of
4.58m @ 35.7g/t Ag, including 1.5m @ 91.6g/t in hole 124. “The combination of high-grade Ag, strong polymetallic support, and textbook hydrothermal alteration signals we are into a significant mineralized system,” said CEO Brodie Sutherland.
Colibri Resource (TSXV:CBI)
Updated Au exploration drilling at its El Plomo project in Sonora. It completed Phase 1 reconnaissance RC drilling at El Plomo.
Mercado Minerals (CSE:MERC)
Commenced geophysical surveys over the Copalito project in Sinaloa, with a high-resolution UAV magnetic survey followed by a drone LiDAR survey.
Element 29 Resources (TSXV:ECU)
Announced results from ongoing diamond drilling program at its Elida porphyry Cu–Mo–Ag deposit where it continues to intersect long high-grade intervals of Cu–Mo–Ag mineralization beginning near surface and extending to vertical depths exceeding 1.4km. Highlights included 1489m @ 0.44% Cu, 0.04% Mo & 4.09g/t Ag for a 0.58% CuEq in hole 37. ECU plans to complete the remaining 2,300m of drilling of a 7,000m program in 1Q26, with an additional 5,000m planned for 1H26.
It is also planning to permit up to 40 drilling platforms. Preliminary metallurgical test work is also planned for 2Q26. “Elida continues to impress returning long intercepts of higher-grade Cu mineralization, reinforcing our view of Elida as a large, well mineralized porphyry system,” said president & CEO Richard Osmond.
Tinka Resources (TSXV:TK)
Updated on exploration at the Silvia Au-Cu property where a four hole, 1,400m diamond drill program has been completed. Visible Cu mineralization in the form of chalcopyrite was observed in all holes. Assays are expected in 1Q26. A ground geophysical IP survey and/or magnetotellurics is planned for 2Q26 targeting zones of greater sulphide concentrations.
Kuya Silver (CSE:KUYA)
Signed a LOI to acquire Sociedad Minera de Responsabilidad Limitada Camila 2008, the owner of the permitted Camila processing conventional floatation plant in Junin that is processing mineralized material from KUYAs Bethania project to produce Ag and other metal concentrates on a toll-milling basis. The plant operates at 150tpd with plans to increase production capacity to 300-350tpd. KUYA agreed to purchase SMRL Camila for US$7.8M.
Hannan Metals (TSXV:HAN)
Will restart drilling in February and provide results from two drill holes at the Ricardo Herrera prospect from maiden drilling at the Belen prospect. Six holes for 2,600m have been completed across three prospects at Belen.
Founders Metals (TSXV:FDR)
Consolidated a cumulative 102,360 ha contiguous land package in SE Suriname. “We have effectively consolidated an entire Au district covering over 100,000 hectares of Guiana Shield greenstone geology proven to host multi-million-ounce Au deposits. FDR is uniquely positioned to systematically explore this entire land package while advancing our most promising targets toward resource definition,” said president & CEO Colin Padget.
Sranan Gold (CSE:SRAN)
Appointed Ron Halas, PEng to its board. Halas is a mining engineer with more than 35 years of experience, including roles at IAMGOLD, Kinross Gold, Vale, PT Freeport Indonesia, Placer Dome, and Cominco. He lived and worked in Suriname for over five years as IAMGOLD’s VP Commercial South America.
Paul Harris
Paul has more than twenty years’ experience in the mining sector in investor relations, communications, research and news reporting roles. Paul has 16 years’ experience in the Colombia gold sector including investor relations roles with Continental Gold, Gran Colombia Gold and Mineros.
Paul founded the successful Colombia Gold Symposium in 2016 and has written for industry leading publication Mining Journal since 2015. Previously, Paul spent five years in Chile reporting and researching the copper sector for CRU and Metal Bulletin. Paul received a BA in Business Administration from the University of the West of England, UK; and a MA in International Relations from the University of Chile, Santiago Chile. He is fluent in English and Spanish.
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