Multi-Asset Explorer on a Growth Trajectory
Silver Viper Minerals focuses on Mexico, the world’s largest silver producer. Geologically, the company primarily targets epithermal gold-silver systems and polymetallic structures. These are responsible for numerous Tier-1 deposits in Mexico.
Silver Viper Minerals plans to go full throttle this year. CEO Stephen Cope repeatedly emphasizes that, as an active explorer with an attractive gold-silver mix in Mexico, the company aims to grow aggressively. It has now become a multi-asset explorer. To this end, the Coneto project was recently acquired. It is located in Durango, one of Mexico’s most significant precious metal regions. The seller, Fresnillo, is the world’s largest silver producer. It is now one of Silver Viper’s anchor shareholders and is likely to closely monitor developments. If exploration is successful and yields a significant resource, Fresnillo would then likely be at the top of the list of potential buyers. To increase the company’s resource as quickly as possible, a drilling program is set to begin at Coneto in the near future. To date, the resource is estimated at around 535,000 gold-equivalent ounces (approximately 50/50 gold/silver). This is expected to increase soon.
Flagship Project on Track for Multi-Million Ounces
The resource at the flagship La Virginia project is also expected to rise, and significantly. The large epithermal gold-silver project is located in the Mexican state of Sonora. It comprises a series of mineralized structures extending over several kilometers of strike length. According to historical and current data, the resource stands at around 700,000 gold-equivalent ounces (approximately 60% gold / 40% silver). From management’s perspective, there is “plenty of room” for the project to become a multi-million-ounce project.
Strong Drill Results Once Again
Silver Viper Minerals recently reported significant progress at La Virginia. As part of the drilling program underway since October 2025, a total of more than 5,600 m has been drilled to date—including 1,026.4 m in seven exploration holes around the El Molino target zone and 4,620.0 m in eleven infill holes in the El Rubi resource area.
Of particular interest are two newly identified anomalous structures in the El Molino section. Drill hole LV25-331 intersected 3.5 m grading 1.25 g/t gold and 24.81 g/t silver (including 0.5 m grading 5.0 g/t gold and 27.9 g/t silver), while LV25-336 returned 3.2 m grading 1.66 g/t gold. The results point to previously unidentified mineralized zones and underscore the project’s exploration potential.
In the established El Rubi section, high-grade intervals have significantly exceeded expectations. For example, drill hole LV26-345 returned an exceptional 11.7 m at 9.18 g/t gold and 352 g/t silver, including a peak interval of 0.5 m at 183.5 g/t gold and 6,850 g/t silver. LV26-344 also impressed with 2.6 m at 50.66 g/t gold and 158.1 g/t silver. Overall, the results to date demonstrate both strong grades and broad mineralized zones in the core area of the planned open-pit mine. CEO Steve Cope refers to “some of the highest grades ever achieved on the project” and sees the program on a clearly positive trajectory.
It should be noted that the originally planned 5,000 m of drilling has already been expanded to upgrade additional “inferred” resources to higher-grade classifications.
The tight silver market needs more mines. Silver Viper Minerals aims to contribute to this with projects located in established producing regions. Management is expanding aggressively and aims to soon be able to report several million ounces. Drilling results to date suggest that this goal can be achieved and that the stock is undervalued.
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