Business
Sierra Madre Starts US$3.5 Million Exploration Program at the East District of Guitarra Project
Vancouver, British Columbia--(Newsfile Corp. - October 23, 2025) - Sierra Madre Gold and Silver L...
About this update from Sierra Madre Gold & Silver Ltd.
[{"type":"text","content":"Sierra Madre Starts US$3.5 Million Exploration Program at the East District of Guitarra ProjectVancouver, British Columbia--(Newsfile Corp. - October 23, 2025) - Sierra Madre Gold and Silver Ltd. (TSXV: SM) (OTCQX: SMDRF) (\"Sierra Madre\" or the \"Company\") is pleased to announce that exploration work has begun at the East District of the Guitarra silver-gold project in Estado de Mexico, Mexico; this District covers the historic Temascaltepec mining area. Greg Liller, Chief Operating Officer and Executive Chair, commented: \"We are very pleased to be restarting exploration within the under-explored East District portion of the Company's concessions holdings, following the successful re-start of the Guitarra and Coloso mines. The East district is the last of the six major Spanish Colonial production centres in Mexico that has not been systematically mapped, drilled, and evaluated using modern tools and methods. Based on historic data, the company sees strong potential for additional resources in this District, with over 39 km of structures mapped to date, numerous historic mines, and a current deposit already defined at Mina de Agua.\" Alex Langer, Chief Executive Officer, added: \"Restarting exploration at the East District is a key step to unlocking the full value of Guitarra. With a fully funded two-stage plant expansion underway in the West District, we see potential for additional discoveries in this eastern portion of the property. We anticipate funding this exploration program from our treasury and cash flow, with a C$19.5 million private placement closed in July 2025.\" Exploration Program PlansWith a US$3.5-million budget, the East District exploration program will consist of two parts. First, drill target definition through additional detailed geologic surface mapping, including the historic El Rincon mine (Marmajas-Echada system), surveying, mapping and sampling of historic workings, and a structural analysis in order to determine the geologic controls of historically mined mineralization. This program is estimated to take nine months to complete.Upon completion of the target definition program, a 20,000 to 25,000 metre drill program would then be undertaken to further assess the targets' economic potential. The drilling will be conducted over a period of 12 to 18 months. Based on the results of this program, the Com...