Business
Silverco Mining Completes Acquisition of Nuevo Silver to Become the Newest Silver Producer
Vancouver, British Columbia--(Newsfile Corp. - May 19, 2026) - Silverco Mining Ltd. (TSXV: SICO) (OTCQB: SICOF) ("Silverco" or the "Company") is pleased to
About this update from Silverco Mining Ltd.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - May 19, 2026) - Silverco Mining Ltd. (TSXV: SICO) (OTCQB: SICOF) (\"Silverco\" or the \"Company\") is pleased to announce that it has completed its previously announced acquisition (the \"Transaction\") of Nuevo Silver Inc. (\"Nuevo\"). Pursuant to the Transaction, the Company has acquired all of the issued and outstanding common shares of Nuevo in exchange for the issuance of an aggregate of 16,802,283 common shares of the Company to former Nuevo shareholders on a pro rata basis.Nuevo, which holds a 100% interest in the La Negra Mine, in Querétaro, Mexico, is now a wholly-owned subsidiary of the Company. Mark Ayranto, CEO, commented: \"We are incredibly excited to bring the La Negra Mine and team into Silverco, marking the beginning of our journey as a silver producer. The long and productive history of the La Negra Mine is a testament to the quality of this project and we look forward to returning the project to its full potential over the remainder of 2026 through a low capital investment program. In addition, we will be embarking on one of the first exploration programs at the project in nearly two decades to identify additional opportunities for growth. Combining this mine with our Cusi project, which is on track to be restarted in H2 2026, places us firmly on the path to achieve our vision of becoming a 10 million ounce silver equivalent producer within three years.\" La Negra is a producing silver- lead – zinc- copper mine located approximately 150 kilometres by paved road from Querétaro city. The mine initially commenced modern production in 1971 and was operated consistently for 29 years by Peñoles. After a series of different owners and operators between 2001 and 2017, it was restarted again in 2024 and is currently operating at 55% of its 2,500 tonne per day capacity. Ground conditions at the mine are very good allowing for mining to be conducted via room and pillar and long hole methods with limited ground support and backfill. The process plant employs a standard crushing, grinding, flotation, and filtration circuit producing lead-silver, copper-silver, and zinc concentrates. The mine is located within the prolific Sierra Gorda range which is host to numerous discoveries. Mineralization at La Negra is hosted in a skarn and metallurgy is well understood given the mo...