Americas Gold and Silver invests US$30 million in silver mine in Mexico

Americas Gold and Silver reported that it will invest $30 million in a silver mine located in Sinaloa, Mexico, over the next three years.

There, the company 100% owns and operates the Cosalá Operations, which includes the San Rafael silver-zinc-lead mine after declaring commercial production in December 2017.

Previously, Americas Gold and Silver operated the 100%-owned Nuestra Señora silver-zinc-copper-lead mine after commissioning the Los Braceros processing plant and declaring commercial production in January 2009.

The Cosalá area properties also host several other known deposits, previous producing mines and development projects including the Zona 120 silver-copper project and the El Cajón silver-copper deposit.

These properties are located very close to the Los Braceros processing plant.

Extraction and processing was suspended at the Cosalá Operations, due to an illegal blockade and related issues, first announced on February 2, 2020.

In addition, the company owns a 100% interest in the San Felipe development project in Sonora Mexico, which it acquired on October 8, 2020.

Silver mine

Cosalá’s operations consist of 67 mining concessions covering approximately 19,385 hectares.

The Cosalá Operations are located in the east-central part of the state of Sinaloa, near the town of Cosalá.

The town is located approximately 240 km by road northeast of Mazatlán, the nearest major city.

Historically, the Company’s Los Braceros processing plant produced copper, lead and zinc concentrates from ore mined at the nearby Nuestra Señora mine.

The property also includes the San Rafael mine, the El Cajon project, several other smaller producing mines and numerous mineralized samples.

A focused exploration program has been implemented to explore the highly prospective ground position and extend the mine life at San Rafael.

The company manages the 60%-owned Galena Complex in Idaho, USA, and is re-evaluating the Relief Canyon mine in Nevada, USA.


Redacción Opportimes