

Morning Briefing: Sierra Madre Begins Underground Development at Nazareno
Sep 30, 2025
Sierra Madre kicks off underground development at the Nazareno mine, revealing exciting potential. NGEX plans a C$100M private placement for Lunawasi exploration. Cornish Metals is buzzing with a PEA showcasing impressive figures for South Crofty. EbraSilver announces promising high-grade drill results at Diablitos, while Goldheart Copper gears up for deep drilling at Tolita. Cartier Resources starts metallurgical testing to optimize gold recovery for Cadillac. A thrilling mix of exploration updates in the mining sector!
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Nazareno Moves To Underground Development
- Sierra Madre has started underground development at Nazareno and has delivered over 700 tonnes of mineralized material to the La Guitarra plant.
- Nazareno holds more than 8.5 million silver-equivalent ounces in the 2023 resource estimate, offering near-term development upside.
NGEX Secures Large Financing For Lunawasi
- NGEX announced a C$100 million non‑brokered private placement of 4 million common shares to fund Lunawasi exploration and potential infrastructure.
- The Lundin Family Trusts intend to subscribe for the whole placement, signaling strong insider support.
South Crofty PEA Shows Strong Economics
- Cornish Metals' PEA for South Crofty shows an after‑tax NPV of £180 million and a 20% IRR with payback in 3.3 years.
- The project targets very low all‑in sustaining tin costs, positioning it in the lowest industry cost quartile.