Vizsla Royalties Provides Update on Principal Asset
Original announcement by tmx on
- Company
- Vizsla Royalties Corp.
- Ticker
- VROY
- Exchange
- TSX
- Region
- Western Mexico
- Primary commodity
- Silver
- Secondary commodities
- Gold, Lead, Zinc
- Document categories
- Resource update
- Extracted
- 2026-09-13 06:56:59 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Vizsla Royalties Corp. announced a significant update to the mineral resource estimate for its principal asset, the Panuco silver-gold project in Mexico. The update, reported by Vizsla Silver Corp., shows a 43% increase in combined Measured and Indicated silver equivalent resources to 222.4 Moz AgEq, with a 4.5% increase in global indicated grade. Notably, the estimate includes the first-ever Measured resource of 46 Moz AgEq, enhancing project confidence and advancing it towards a production decision.
Reasoning: The updated mineral resource estimate for the Panuco project shows a substantial increase in Measured and Indicated silver equivalent ounces and grade, including the first Measured resource, significantly de-risking the project and advancing it towards production.
Positive factors
- Significant increase in Measured and Indicated resources (43% increase in Moz AgEq)
- First-ever Measured resource declared (46 Moz AgEq)
- Increase in M&I grade (4.5% global indicated grade increase)
- Conversion of Inferred resources to higher confidence categories
- QP sign-off and NI 43-101 compliance
Negative factors
- Decrease in Inferred resources and grade, though largely due to conversion to higher categories
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 112
Classification and evidence
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: The release states: "Notably, Vizsla Silver announced its first-ever measured resource estimate, containing 46 Moz at an exceptional average grade of 640 g/t AgEq".
Evidence · text
“Notably, Vizsla Silver announced its first-ever measured resource estimate, containing 46 Moz at an exceptional average grade of 640 g/t AgEq”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The document reports a significant Indicated mineral resource of 176.3 Moz AgEq.
Evidence · table
“176,306”
Context: 10.72
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: The release highlights a "43% increase in combined measured and indicated mineral resources" and "Added 46 Moz AgEq in new measured resources and 176 Moz AgEq in new indicated resources", indicating a conversion of resources to higher confidence categories.
Evidence · text
“43% increase in combined measured and indicated mineral resources from 155.8 to 222.4 Moz AgEq Added 46 Moz AgEq in new measured resources and 176 Moz AgEq in new indicated resources”
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: The document states a "43% increase in combined measured and indicated mineral resources from 155.8 to 222.4 Moz AgEq".
Evidence · text
“43% increase in combined measured and indicated mineral resources from 155.8 to 222.4 Moz AgEq”
Grade Improvementpositive
Average resource grade improved vs prior estimate — better deposit economics.
Why it applies: The release notes a "9.4% increase in combined measured and indicated grade at Copala (580 g/t to 635 g/t AgEq)" and a "4.5% increase in global indicated grade (511 g/t to 534 g/t AgEq)".
Evidence · text
“9.4% increase in combined measured and indicated grade at Copala (580 g/t to 635 g/t AgEq) 4.5% increase in global indicated grade (511 g/t to 534 g/t AgEq)”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: The CEO's comment mentions a "43% increase in contained ounces" for M&I resources.
Evidence · text
“This marks a 43% increase in contained ounces and a 4.5% increase in average grade from their previous mineral resource estimate.”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Jesus Velador, Ph.D. MMSA QP, is stated as the independent Qualified Person who reviewed and approved the technical content.
Evidence · text
“Jesus Velador, Ph.D. MMSA QP, is the independent Qualified Person who has reviewed and approved the technical and scientific content of this news release.”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The document explicitly states that the Qualified Person is in accordance with NI 43-101.
Evidence · text
“In accordance with NI 43-101, Jesus Velador, Ph.D. MMSA QP”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The document reports an Inferred mineral resource of 138.7 Moz AgEq.
Evidence · text
“Inferred mineral resource of 138.7 Moz AgEq”
Tonnage Declinenegative
Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
Why it applies: The release states an "18% decrease in inferred mineral resources from 169.6 to 138.7 Moz AgEq".
Evidence · text
“18% decrease in inferred mineral resources from 169.6 to 138.7 Moz AgEq”
Grade Declinenegative
Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: The release notes a "4.9% decrease in inferred grade (433 g/t to 412 g/t AgEq)".
Evidence · text
“4.9% decrease in inferred grade (433 g/t to 412 g/t AgEq)”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document provides an "updated mineral resource" for the Panuco project.
Evidence · text
“updated mineral resource for Panuco”
Extracted facts
Stored fact records: 112. Some facts used in scoring do not have a stored record.
Resource Estimates (112)
measuredPanuco · silverTonnes: 1880000Grade: 442Grade Unit: g/tContained Metal: 26744Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:543e4fcc168c2ace9382
- Deposit or zone
- Copala
Resource Data
- Category
- measured
- Tonnes
- 1880000
- Grade
- 442
- Grade Unit
- g/t
- Contained Metal
- 26744
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 684
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Copala vein contributes a high-grade silver component to the newly established Measured resource, indicating strong confidence and economic potential.
Positive factors
- High silver grade in Measured category
- Significant contained silver equivalent ounces
- First-ever Measured resource for the project
Evidence · table
“442”
Context: 1.88
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
measuredPanuco · goldTonnes: 1880000Grade: 3.09Grade Unit: g/tContained Metal: 187Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:543e4fcc168c2ace9382
- Deposit or zone
- Copala
Resource Data
- Category
- measured
- Tonnes
- 1880000
- Grade
- 3.09
- Grade Unit
- g/t
- Contained Metal
- 187
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 8.92
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Copala vein also shows a robust gold grade in the Measured category, contributing to the overall economic viability of the project.
Positive factors
- Strong gold grade in Measured category
- Significant contained gold equivalent ounces
- First-ever Measured resource for the project
Evidence · table
“3.09”
Context: 1.88
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
measuredPanuco · leadTonnes: 1880000Grade: 0.08Grade Unit: %Contained Metal: 1.4Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:543e4fcc168c2ace9382
- Deposit or zone
- Copala
Resource Data
- Category
- measured
- Tonnes
- 1880000
- Grade
- 0.08
- Grade Unit
- %
- Contained Metal
- 1.4
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present as a minor component in the Copala Measured resource, adding to the polymetallic value.
Positive factors
- Lead contributes to polymetallic nature of the resource
Evidence · table
“0.08”
Context: 1.88
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
measuredPanuco · zincTonnes: 1880000Grade: 0.15Grade Unit: %Contained Metal: 2.9Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:543e4fcc168c2ace9382
- Deposit or zone
- Copala
Resource Data
- Category
- measured
- Tonnes
- 1880000
- Grade
- 0.15
- Grade Unit
- %
- Contained Metal
- 2.9
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present as a minor component in the Copala Measured resource, adding to the polymetallic value.
Positive factors
- Zinc contributes to polymetallic nature of the resource
Evidence · table
“0.15”
Context: 1.88
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
measuredPanuco · silverTonnes: 360000Grade: 161Grade Unit: g/tContained Metal: 1853Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7f88de2d9d18df7e1643
- Deposit or zone
- Napoleon
Resource Data
- Category
- measured
- Tonnes
- 360000
- Grade
- 161
- Grade Unit
- g/t
- Contained Metal
- 1853
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 404
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Napoleon vein adds to the Measured resource with a solid silver grade, enhancing overall project confidence.
Positive factors
- Good silver grade in Measured category
- Contributes to the first-ever Measured resource
Evidence · table
“161”
Context: 0.36
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
measuredPanuco · goldTonnes: 360000Grade: 2.34Grade Unit: g/tContained Metal: 27Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7f88de2d9d18df7e1643
- Deposit or zone
- Napoleon
Resource Data
- Category
- measured
- Tonnes
- 360000
- Grade
- 2.34
- Grade Unit
- g/t
- Contained Metal
- 27
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 4.55
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Napoleon vein also provides a good gold grade to the Measured resource, supporting the project's precious metals focus.
Positive factors
- Good gold grade in Measured category
- Contributes to the first-ever Measured resource
Evidence · table
“2.34”
Context: 0.36
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
measuredPanuco · leadTonnes: 360000Grade: 0.51Grade Unit: %Contained Metal: 1.8Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7f88de2d9d18df7e1643
- Deposit or zone
- Napoleon
Resource Data
- Category
- measured
- Tonnes
- 360000
- Grade
- 0.51
- Grade Unit
- %
- Contained Metal
- 1.8
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Napoleon vein shows a notable lead grade in the Measured category, contributing to the polymetallic nature.
Positive factors
- Higher lead grade compared to Copala in Measured category
Evidence · table
“0.51”
Context: 0.36
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
measuredPanuco · zincTonnes: 360000Grade: 1.41Grade Unit: %Contained Metal: 5.1Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7f88de2d9d18df7e1643
- Deposit or zone
- Napoleon
Resource Data
- Category
- measured
- Tonnes
- 360000
- Grade
- 1.41
- Grade Unit
- %
- Contained Metal
- 5.1
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Napoleon vein shows a notable zinc grade in the Measured category, contributing to the polymetallic nature.
Positive factors
- Higher zinc grade compared to Copala in Measured category
Evidence · table
“1.41”
Context: 0.36
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
measuredPanuco · silverTonnes: 2240000Grade: 397Grade Unit: g/tContained Metal: 28597Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:4987198d8b7303bdbe49
Resource Data
- Category
- measured
- Tonnes
- 2240000
- Grade
- 397
- Grade Unit
- g/t
- Contained Metal
- 28597
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 640
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The total Measured resource represents a significant de-risking milestone for the project, with strong silver equivalent grades and contained ounces.
Positive factors
- First-ever Measured resource for the project
- High silver equivalent grade
- Significant contained silver equivalent ounces
Evidence · table
“397”
Context: 2.24
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
measuredPanuco · goldTonnes: 2240000Grade: 2.97Grade Unit: g/tContained Metal: 214Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:4987198d8b7303bdbe49
Resource Data
- Category
- measured
- Tonnes
- 2240000
- Grade
- 2.97
- Grade Unit
- g/t
- Contained Metal
- 214
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 8.22
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The total Measured resource includes a substantial gold component, further enhancing the project's value.
Positive factors
- Strong gold grade in the Measured category
- Significant contained gold equivalent ounces
Evidence · table
“2.97”
Context: 2.24
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
measuredPanuco · leadTonnes: 2240000Grade: 0.15Grade Unit: %Contained Metal: 3.3Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:4987198d8b7303bdbe49
Resource Data
- Category
- measured
- Tonnes
- 2240000
- Grade
- 0.15
- Grade Unit
- %
- Contained Metal
- 3.3
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Measured resource includes minor lead content, contributing to the overall polymetallic profile.
Positive factors
- Lead contributes to the polymetallic nature of the resource
Evidence · table
“0.15”
Context: 2.24
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
measuredPanuco · zincTonnes: 2240000Grade: 0.35Grade Unit: %Contained Metal: 7.9Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:4987198d8b7303bdbe49
Resource Data
- Category
- measured
- Tonnes
- 2240000
- Grade
- 0.35
- Grade Unit
- %
- Contained Metal
- 7.9
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Measured resource includes minor zinc content, contributing to the overall polymetallic profile.
Positive factors
- Zinc contributes to the polymetallic nature of the resource
Evidence · table
“0.35”
Context: 2.24
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · silverTonnes: 4290000Grade: 402Grade Unit: g/tContained Metal: 55374Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:9b57e379583abf24a43e
- Deposit or zone
- Copala
Resource Data
- Category
- indicated
- Tonnes
- 4290000
- Grade
- 402
- Grade Unit
- g/t
- Contained Metal
- 55374
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 600
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Copala vein shows a strong silver grade and contained ounces in the Indicated category, contributing significantly to the updated resource.
Positive factors
- High silver grade in Indicated category
- Significant contained silver equivalent ounces
- Contributes to overall M&I resource growth
Evidence · table
“402”
Context: 4.29
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · goldTonnes: 4290000Grade: 2.5Grade Unit: g/tContained Metal: 345Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:9b57e379583abf24a43e
- Deposit or zone
- Copala
Resource Data
- Category
- indicated
- Tonnes
- 4290000
- Grade
- 2.5
- Grade Unit
- g/t
- Contained Metal
- 345
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 7.8
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Copala vein also provides a good gold grade to the Indicated resource, supporting the project's precious metals focus.
Positive factors
- Good gold grade in Indicated category
- Significant contained gold equivalent ounces
Evidence · table
“2.50”
Context: 4.29
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · leadTonnes: 4290000Grade: 0.09Grade Unit: %Contained Metal: 3.8Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:9b57e379583abf24a43e
- Deposit or zone
- Copala
Resource Data
- Category
- indicated
- Tonnes
- 4290000
- Grade
- 0.09
- Grade Unit
- %
- Contained Metal
- 3.8
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present as a minor component in the Copala Indicated resource, adding to the polymetallic value.
Positive factors
- Lead contributes to polymetallic nature of the resource
Evidence · table
“0.09”
Context: 4.29
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · zincTonnes: 4290000Grade: 0.17Grade Unit: %Contained Metal: 7.2Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:9b57e379583abf24a43e
- Deposit or zone
- Copala
Resource Data
- Category
- indicated
- Tonnes
- 4290000
- Grade
- 0.17
- Grade Unit
- %
- Contained Metal
- 7.2
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present as a minor component in the Copala Indicated resource, adding to the polymetallic value.
Positive factors
- Zinc contributes to polymetallic nature of the resource
Evidence · table
“0.17”
Context: 4.29
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · silverTonnes: 720000Grade: 380Grade Unit: g/tContained Metal: 8833Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:989600916b0285c77454
- Deposit or zone
- Tajitos
Resource Data
- Category
- indicated
- Tonnes
- 720000
- Grade
- 380
- Grade Unit
- g/t
- Contained Metal
- 8833
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 571
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Tajitos vein adds a good silver grade to the Indicated resource, contributing to the project's overall scale.
Positive factors
- Good silver grade in Indicated category
- Contributes to overall M&I resource growth
Evidence · table
“380”
Context: 0.72
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · goldTonnes: 720000Grade: 2.34Grade Unit: g/tContained Metal: 55Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:989600916b0285c77454
- Deposit or zone
- Tajitos
Resource Data
- Category
- indicated
- Tonnes
- 720000
- Grade
- 2.34
- Grade Unit
- g/t
- Contained Metal
- 55
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 7.36
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Tajitos vein also provides a good gold grade to the Indicated resource, supporting the project's precious metals focus.
Positive factors
- Good gold grade in Indicated category
Evidence · table
“2.34”
Context: 0.72
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · leadTonnes: 720000Grade: 0.14Grade Unit: %Contained Metal: 1Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:989600916b0285c77454
- Deposit or zone
- Tajitos
Resource Data
- Category
- indicated
- Tonnes
- 720000
- Grade
- 0.14
- Grade Unit
- %
- Contained Metal
- 1
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present as a minor component in the Tajitos Indicated resource, adding to the polymetallic value.
Positive factors
- Lead contributes to polymetallic nature of the resource
Evidence · table
“0.14”
Context: 0.72
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · zincTonnes: 720000Grade: 0.25Grade Unit: %Contained Metal: 1.8Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:989600916b0285c77454
- Deposit or zone
- Tajitos
Resource Data
- Category
- indicated
- Tonnes
- 720000
- Grade
- 0.25
- Grade Unit
- %
- Contained Metal
- 1.8
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present as a minor component in the Tajitos Indicated resource, adding to the polymetallic value.
Positive factors
- Zinc contributes to polymetallic nature of the resource
Evidence · table
“0.25”
Context: 0.72
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · silverTonnes: 360000Grade: 610Grade Unit: g/tContained Metal: 7102Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:5d9561cf6f1cf0865d80
- Deposit or zone
- Cristiano
Resource Data
- Category
- indicated
- Tonnes
- 360000
- Grade
- 610
- Grade Unit
- g/t
- Contained Metal
- 7102
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 912
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Cristiano vein shows exceptionally high silver and silver equivalent grades in the Indicated category, representing a valuable component of the resource.
Positive factors
- Very high silver grade in Indicated category
- High silver equivalent grade
- Contributes to overall M&I resource growth
Evidence · table
“610”
Context: 0.36
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · goldTonnes: 360000Grade: 3.67Grade Unit: g/tContained Metal: 43Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:5d9561cf6f1cf0865d80
- Deposit or zone
- Cristiano
Resource Data
- Category
- indicated
- Tonnes
- 360000
- Grade
- 3.67
- Grade Unit
- g/t
- Contained Metal
- 43
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 11.73
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Cristiano vein also provides a very strong gold grade to the Indicated resource, significantly boosting the project's precious metals value.
Positive factors
- Very strong gold grade in Indicated category
- High gold equivalent grade
Evidence · table
“3.67”
Context: 0.36
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · leadTonnes: 360000Grade: 0.25Grade Unit: %Contained Metal: 0.9Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:5d9561cf6f1cf0865d80
- Deposit or zone
- Cristiano
Resource Data
- Category
- indicated
- Tonnes
- 360000
- Grade
- 0.25
- Grade Unit
- %
- Contained Metal
- 0.9
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present as a minor component in the Cristiano Indicated resource, adding to the polymetallic value.
Positive factors
- Lead contributes to polymetallic nature of the resource
Evidence · table
“0.25”
Context: 0.36
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · zincTonnes: 360000Grade: 0.45Grade Unit: %Contained Metal: 1.6Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:5d9561cf6f1cf0865d80
- Deposit or zone
- Cristiano
Resource Data
- Category
- indicated
- Tonnes
- 360000
- Grade
- 0.45
- Grade Unit
- %
- Contained Metal
- 1.6
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present as a minor component in the Cristiano Indicated resource, adding to the polymetallic value.
Positive factors
- Zinc contributes to polymetallic nature of the resource
Evidence · table
“0.45”
Context: 0.36
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · silverTonnes: 5370000Grade: 413Grade Unit: g/tContained Metal: 71309Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:1de269dd5767974c8658
- Deposit or zone
- Copala Area
Resource Data
- Category
- indicated
- Tonnes
- 5370000
- Grade
- 413
- Grade Unit
- g/t
- Contained Metal
- 71309
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 617
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Copala Area total represents a substantial portion of the Indicated resource with strong silver equivalent grades and contained ounces.
Positive factors
- Large tonnage in Indicated category for Copala Area
- High silver equivalent grade
- Significant contained silver equivalent ounces
Evidence · table
“413”
Context: 5.37
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · goldTonnes: 5370000Grade: 2.56Grade Unit: g/tContained Metal: 443Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:1de269dd5767974c8658
- Deposit or zone
- Copala Area
Resource Data
- Category
- indicated
- Tonnes
- 5370000
- Grade
- 2.56
- Grade Unit
- g/t
- Contained Metal
- 443
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 8.01
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Copala Area total also provides a good gold grade to the Indicated resource, supporting the project's precious metals focus.
Positive factors
- Good gold grade in Indicated category for Copala Area
- Significant contained gold equivalent ounces
Evidence · table
“2.56”
Context: 5.37
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · leadTonnes: 5370000Grade: 0.11Grade Unit: %Contained Metal: 5.7Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:1de269dd5767974c8658
- Deposit or zone
- Copala Area
Resource Data
- Category
- indicated
- Tonnes
- 5370000
- Grade
- 0.11
- Grade Unit
- %
- Contained Metal
- 5.7
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present as a minor component in the Copala Area Indicated resource, adding to the polymetallic value.
Positive factors
- Lead contributes to polymetallic nature of the resource
Evidence · table
“0.11”
Context: 5.37
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · zincTonnes: 5370000Grade: 0.2Grade Unit: %Contained Metal: 10.6Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:1de269dd5767974c8658
- Deposit or zone
- Copala Area
Resource Data
- Category
- indicated
- Tonnes
- 5370000
- Grade
- 0.2
- Grade Unit
- %
- Contained Metal
- 10.6
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present as a minor component in the Copala Area Indicated resource, adding to the polymetallic value.
Positive factors
- Zinc contributes to polymetallic nature of the resource
Evidence · table
“0.20”
Context: 5.37
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · silverTonnes: 3780000Grade: 150Grade Unit: g/tContained Metal: 18184Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:f6d3b4b1c38dd076c4ff
- Deposit or zone
- Napoleon
Resource Data
- Category
- indicated
- Tonnes
- 3780000
- Grade
- 150
- Grade Unit
- g/t
- Contained Metal
- 18184
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 399
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Napoleon vein contributes a significant portion of the Indicated resource with good contained silver equivalent ounces.
Positive factors
- Good contained silver equivalent ounces in Indicated category
Evidence · table
“150”
Context: 3.78
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · goldTonnes: 3780000Grade: 2.25Grade Unit: g/tContained Metal: 273Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:f6d3b4b1c38dd076c4ff
- Deposit or zone
- Napoleon
Resource Data
- Category
- indicated
- Tonnes
- 3780000
- Grade
- 2.25
- Grade Unit
- g/t
- Contained Metal
- 273
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 4.32
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Napoleon vein also provides a good gold grade to the Indicated resource, supporting the project's precious metals focus.
Positive factors
- Good gold grade in Indicated category
Evidence · table
“2.25”
Context: 3.78
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · leadTonnes: 3780000Grade: 0.52Grade Unit: %Contained Metal: 19.4Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:f6d3b4b1c38dd076c4ff
- Deposit or zone
- Napoleon
Resource Data
- Category
- indicated
- Tonnes
- 3780000
- Grade
- 0.52
- Grade Unit
- %
- Contained Metal
- 19.4
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Napoleon vein shows a notable lead grade in the Indicated category, contributing to the polymetallic nature.
Positive factors
- Higher lead grade in Indicated category
Evidence · table
“0.52”
Context: 3.78
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · zincTonnes: 3780000Grade: 1.78Grade Unit: %Contained Metal: 67.2Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:f6d3b4b1c38dd076c4ff
- Deposit or zone
- Napoleon
Resource Data
- Category
- indicated
- Tonnes
- 3780000
- Grade
- 1.78
- Grade Unit
- %
- Contained Metal
- 67.2
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Napoleon vein shows a notable zinc grade in the Indicated category, contributing to the polymetallic nature.
Positive factors
- Higher zinc grade in Indicated category
Evidence · table
“1.78”
Context: 3.78
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · silverTonnes: 990000Grade: 217Grade Unit: g/tContained Metal: 6885Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7a90da635a43606ee844
- Deposit or zone
- Napoleon HW
Resource Data
- Category
- indicated
- Tonnes
- 990000
- Grade
- 217
- Grade Unit
- g/t
- Contained Metal
- 6885
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 448
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Napoleon HW vein contributes a good silver grade to the Indicated resource.
Positive factors
- Good silver grade in Indicated category
Evidence · table
“217”
Context: 0.99
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · goldTonnes: 990000Grade: 2.09Grade Unit: g/tContained Metal: 66Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7a90da635a43606ee844
- Deposit or zone
- Napoleon HW
Resource Data
- Category
- indicated
- Tonnes
- 990000
- Grade
- 2.09
- Grade Unit
- g/t
- Contained Metal
- 66
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 5.04
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Napoleon HW vein also provides a good gold grade to the Indicated resource.
Positive factors
- Good gold grade in Indicated category
Evidence · table
“2.09”
Context: 0.99
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · leadTonnes: 990000Grade: 0.47Grade Unit: %Contained Metal: 4.6Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7a90da635a43606ee844
- Deposit or zone
- Napoleon HW
Resource Data
- Category
- indicated
- Tonnes
- 990000
- Grade
- 0.47
- Grade Unit
- %
- Contained Metal
- 4.6
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present in the Napoleon HW Indicated resource, adding to the polymetallic value.
Positive factors
- Lead contributes to polymetallic nature of the resource
Evidence · table
“0.47”
Context: 0.99
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · zincTonnes: 990000Grade: 1.64Grade Unit: %Contained Metal: 16.2Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7a90da635a43606ee844
- Deposit or zone
- Napoleon HW
Resource Data
- Category
- indicated
- Tonnes
- 990000
- Grade
- 1.64
- Grade Unit
- %
- Contained Metal
- 16.2
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present in the Napoleon HW Indicated resource, adding to the polymetallic value.
Positive factors
- Zinc contributes to polymetallic nature of the resource
Evidence · table
“1.64”
Context: 0.99
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · silverTonnes: 490000Grade: 143Grade Unit: g/tContained Metal: 2238Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:1221ef2736b995fa8893
- Deposit or zone
- Luisa
Resource Data
- Category
- indicated
- Tonnes
- 490000
- Grade
- 143
- Grade Unit
- g/t
- Contained Metal
- 2238
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 364
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Luisa vein contributes to the Indicated resource with moderate silver grades.
Positive factors
- Contributes to Indicated resource
Evidence · table
“143”
Context: 0.49
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · goldTonnes: 490000Grade: 2.12Grade Unit: g/tContained Metal: 33Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:1221ef2736b995fa8893
- Deposit or zone
- Luisa
Resource Data
- Category
- indicated
- Tonnes
- 490000
- Grade
- 2.12
- Grade Unit
- g/t
- Contained Metal
- 33
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 4.08
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Luisa vein also provides a good gold grade to the Indicated resource.
Positive factors
- Good gold grade in Indicated category
Evidence · table
“2.12”
Context: 0.49
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · leadTonnes: 490000Grade: 0.31Grade Unit: %Contained Metal: 1.5Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:1221ef2736b995fa8893
- Deposit or zone
- Luisa
Resource Data
- Category
- indicated
- Tonnes
- 490000
- Grade
- 0.31
- Grade Unit
- %
- Contained Metal
- 1.5
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present in the Luisa Indicated resource, adding to the polymetallic value.
Positive factors
- Lead contributes to polymetallic nature of the resource
Evidence · table
“0.31”
Context: 0.49
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · zincTonnes: 490000Grade: 1.44Grade Unit: %Contained Metal: 7Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:1221ef2736b995fa8893
- Deposit or zone
- Luisa
Resource Data
- Category
- indicated
- Tonnes
- 490000
- Grade
- 1.44
- Grade Unit
- %
- Contained Metal
- 7
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present in the Luisa Indicated resource, adding to the polymetallic value.
Positive factors
- Zinc contributes to polymetallic nature of the resource
Evidence · table
“1.44”
Context: 0.49
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · silverTonnes: 60000Grade: 230Grade Unit: g/tContained Metal: 452Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:cb4c64bbdb18ac333532
- Deposit or zone
- Josephine
Resource Data
- Category
- indicated
- Tonnes
- 60000
- Grade
- 230
- Grade Unit
- g/t
- Contained Metal
- 452
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 473
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Josephine vein contributes to the Indicated resource with good silver grades.
Positive factors
- Good silver grade in Indicated category
Evidence · table
“230”
Context: 0.06
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · goldTonnes: 60000Grade: 2.54Grade Unit: g/tContained Metal: 5Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:cb4c64bbdb18ac333532
- Deposit or zone
- Josephine
Resource Data
- Category
- indicated
- Tonnes
- 60000
- Grade
- 2.54
- Grade Unit
- g/t
- Contained Metal
- 5
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 5.64
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Josephine vein also provides a good gold grade to the Indicated resource.
Positive factors
- Good gold grade in Indicated category
Evidence · table
“2.54”
Context: 0.06
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · leadTonnes: 60000Grade: 0.38Grade Unit: %Contained Metal: 0.2Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:cb4c64bbdb18ac333532
- Deposit or zone
- Josephine
Resource Data
- Category
- indicated
- Tonnes
- 60000
- Grade
- 0.38
- Grade Unit
- %
- Contained Metal
- 0.2
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present in the Josephine Indicated resource, adding to the polymetallic value.
Positive factors
- Lead contributes to polymetallic nature of the resource
Evidence · table
“0.38”
Context: 0.06
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · zincTonnes: 60000Grade: 1.09Grade Unit: %Contained Metal: 0.7Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:cb4c64bbdb18ac333532
- Deposit or zone
- Josephine
Resource Data
- Category
- indicated
- Tonnes
- 60000
- Grade
- 1.09
- Grade Unit
- %
- Contained Metal
- 0.7
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present in the Josephine Indicated resource, adding to the polymetallic value.
Positive factors
- Zinc contributes to polymetallic nature of the resource
Evidence · table
“1.09”
Context: 0.06
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · silverTonnes: 30000Grade: 145Grade Unit: g/tContained Metal: 154Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:608864ec18948e072476
- Deposit or zone
- Cruz
Resource Data
- Category
- indicated
- Tonnes
- 30000
- Grade
- 145
- Grade Unit
- g/t
- Contained Metal
- 154
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 380
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Cruz vein contributes to the Indicated resource with moderate silver grades.
Positive factors
- Contributes to Indicated resource
Evidence · table
“145”
Context: 0.03
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · goldTonnes: 30000Grade: 2.01Grade Unit: g/tContained Metal: 2Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:608864ec18948e072476
- Deposit or zone
- Cruz
Resource Data
- Category
- indicated
- Tonnes
- 30000
- Grade
- 2.01
- Grade Unit
- g/t
- Contained Metal
- 2
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 4.03
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Cruz vein also provides a good gold grade to the Indicated resource.
Positive factors
- Good gold grade in Indicated category
Evidence · table
“2.01”
Context: 0.03
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · leadTonnes: 30000Grade: 0.38Grade Unit: %Contained Metal: 0.1Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:608864ec18948e072476
- Deposit or zone
- Cruz
Resource Data
- Category
- indicated
- Tonnes
- 30000
- Grade
- 0.38
- Grade Unit
- %
- Contained Metal
- 0.1
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present in the Cruz Indicated resource, adding to the polymetallic value.
Positive factors
- Lead contributes to polymetallic nature of the resource
Evidence · table
“0.38”
Context: 0.03
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · zincTonnes: 30000Grade: 2.01Grade Unit: %Contained Metal: 0.7Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:608864ec18948e072476
- Deposit or zone
- Cruz
Resource Data
- Category
- indicated
- Tonnes
- 30000
- Grade
- 2.01
- Grade Unit
- %
- Contained Metal
- 0.7
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present in the Cruz Indicated resource, adding to the polymetallic value.
Positive factors
- Zinc contributes to polymetallic nature of the resource
Evidence · table
“2.01”
Context: 0.03
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · silverTonnes: 5340000Grade: 163Grade Unit: g/tContained Metal: 27913Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:c929f22d4e1c20dfd8c7
- Deposit or zone
- Napoleon Area
Resource Data
- Category
- indicated
- Tonnes
- 5340000
- Grade
- 163
- Grade Unit
- g/t
- Contained Metal
- 27913
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 405
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Napoleon Area total represents a substantial portion of the Indicated resource with good contained silver equivalent ounces.
Positive factors
- Large tonnage in Indicated category for Napoleon Area
- Significant contained silver equivalent ounces
Evidence · table
“163”
Context: 5.34
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · goldTonnes: 5340000Grade: 2.21Grade Unit: g/tContained Metal: 379Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:c929f22d4e1c20dfd8c7
- Deposit or zone
- Napoleon Area
Resource Data
- Category
- indicated
- Tonnes
- 5340000
- Grade
- 2.21
- Grade Unit
- g/t
- Contained Metal
- 379
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 4.44
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Napoleon Area total also provides a good gold grade to the Indicated resource.
Positive factors
- Good gold grade in Indicated category for Napoleon Area
- Significant contained gold equivalent ounces
Evidence · table
“2.21”
Context: 5.34
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · leadTonnes: 5340000Grade: 0.49Grade Unit: %Contained Metal: 25.9Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:c929f22d4e1c20dfd8c7
- Deposit or zone
- Napoleon Area
Resource Data
- Category
- indicated
- Tonnes
- 5340000
- Grade
- 0.49
- Grade Unit
- %
- Contained Metal
- 25.9
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present in the Napoleon Area Indicated resource, adding to the polymetallic value.
Positive factors
- Lead contributes to polymetallic nature of the resource
Evidence · table
“0.49”
Context: 5.34
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · zincTonnes: 5340000Grade: 1.72Grade Unit: %Contained Metal: 91.7Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:c929f22d4e1c20dfd8c7
- Deposit or zone
- Napoleon Area
Resource Data
- Category
- indicated
- Tonnes
- 5340000
- Grade
- 1.72
- Grade Unit
- %
- Contained Metal
- 91.7
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present in the Napoleon Area Indicated resource, adding to the polymetallic value.
Positive factors
- Zinc contributes to polymetallic nature of the resource
Evidence · table
“1.72”
Context: 5.34
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · silverTonnes: 10720000Grade: 288Grade Unit: g/tContained Metal: 99222Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:d019ddc21b1c1e7d3a31
Resource Data
- Category
- indicated
- Tonnes
- 10720000
- Grade
- 288
- Grade Unit
- g/t
- Contained Metal
- 99222
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
- Prior Grade
- 511
Metal Equivalent
- Metal Eq. Grade
- 512
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The total Indicated resource shows a substantial increase in contained silver equivalent ounces and an improved grade, enhancing project confidence.
Positive factors
- Large Indicated resource tonnage
- Significant contained silver equivalent ounces
- Increase in global indicated grade
Evidence · table
“288”
Context: 10.72
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Grade Declinenegative
Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: 288 against 511 previously
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · goldTonnes: 10720000Grade: 2.39Grade Unit: g/tContained Metal: 822Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:2f8c3430eb673fc419dd
Resource Data
- Category
- indicated
- Tonnes
- 10720000
- Grade
- 2.39
- Grade Unit
- g/t
- Contained Metal
- 822
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 6.23
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The total Indicated resource includes a substantial gold component, further enhancing the project's value.
Positive factors
- Strong gold grade in the Indicated category
- Significant contained gold equivalent ounces
Evidence · table
“2.39”
Context: 10.72
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · leadTonnes: 10720000Grade: 0.3Grade Unit: %Contained Metal: 31.6Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:2f8c3430eb673fc419dd
Resource Data
- Category
- indicated
- Tonnes
- 10720000
- Grade
- 0.3
- Grade Unit
- %
- Contained Metal
- 31.6
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Indicated resource includes minor lead content, contributing to the overall polymetallic profile.
Positive factors
- Lead contributes to the polymetallic nature of the resource
Evidence · table
“0.30”
Context: 10.72
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · zincTonnes: 10720000Grade: 0.95Grade Unit: %Contained Metal: 102.3Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:2f8c3430eb673fc419dd
Resource Data
- Category
- indicated
- Tonnes
- 10720000
- Grade
- 0.95
- Grade Unit
- %
- Contained Metal
- 102.3
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Indicated resource includes minor zinc content, contributing to the overall polymetallic profile.
Positive factors
- Zinc contributes to the polymetallic nature of the resource
Evidence · table
“0.95”
Context: 10.72
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · silverTonnes: 12960000Grade: 307Grade Unit: g/tContained Metal: 127819Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:e60185e7e881b1171d33
Resource Data
- Category
- indicated
- Tonnes
- 12960000
- Grade
- 307
- Grade Unit
- g/t
- Contained Metal
- 127819
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
- Prior Contained Metal
- 155800
Metal Equivalent
- Metal Eq. Grade
- 534
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The total Measured and Indicated resource shows a substantial increase in contained silver equivalent ounces and an improved grade, representing a significant de-risking and value enhancement for the project.
Positive factors
- Significant increase in combined Measured and Indicated resources (43% increase)
- Substantial contained silver equivalent ounces
- Improved overall grade for M&I
Evidence · table
“307”
Context: 12.96
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: 127819 against 155800 previously
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · goldTonnes: 12960000Grade: 2.49Grade Unit: g/tContained Metal: 1036Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:f1ce98917417a34c5573
Resource Data
- Category
- indicated
- Tonnes
- 12960000
- Grade
- 2.49
- Grade Unit
- g/t
- Contained Metal
- 1036
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 6.58
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The total Measured and Indicated resource includes a substantial gold component, further enhancing the project's value.
Positive factors
- Significant contained gold equivalent ounces
- Strong gold grade in the M&I category
Evidence · table
“2.49”
Context: 12.96
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · leadTonnes: 12960000Grade: 0.27Grade Unit: %Contained Metal: 34.9Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:f1ce98917417a34c5573
Resource Data
- Category
- indicated
- Tonnes
- 12960000
- Grade
- 0.27
- Grade Unit
- %
- Contained Metal
- 34.9
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The total Measured and Indicated resource includes minor lead content, contributing to the overall polymetallic profile.
Positive factors
- Lead contributes to the polymetallic nature of the resource
Evidence · table
“0.27”
Context: 12.96
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedPanuco · zincTonnes: 12960000Grade: 0.85Grade Unit: %Contained Metal: 110.2Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:f1ce98917417a34c5573
Resource Data
- Category
- indicated
- Tonnes
- 12960000
- Grade
- 0.85
- Grade Unit
- %
- Contained Metal
- 110.2
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The total Measured and Indicated resource includes minor zinc content, contributing to the overall polymetallic profile.
Positive factors
- Zinc contributes to the polymetallic nature of the resource
Evidence · table
“0.85”
Context: 12.96
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · silverTonnes: 2320000Grade: 322Grade Unit: g/tContained Metal: 24014Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7debc9e403bc58bdc29b
- Deposit or zone
- Copala
Resource Data
- Category
- inferred
- Tonnes
- 2320000
- Grade
- 322
- Grade Unit
- g/t
- Contained Metal
- 24014
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 476
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Copala vein contributes a good silver grade to the Inferred resource, representing future exploration potential.
Positive factors
- Good silver grade in Inferred category
Negative factors
- Lower confidence category
Evidence · table
“322”
Context: 2.32
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · goldTonnes: 2320000Grade: 1.83Grade Unit: g/tContained Metal: 137Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7debc9e403bc58bdc29b
- Deposit or zone
- Copala
Resource Data
- Category
- inferred
- Tonnes
- 2320000
- Grade
- 1.83
- Grade Unit
- g/t
- Contained Metal
- 137
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 6.09
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Copala vein also provides a good gold grade to the Inferred resource, representing future exploration potential.
Positive factors
- Good gold grade in Inferred category
Negative factors
- Lower confidence category
Evidence · table
“1.83”
Context: 2.32
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · leadTonnes: 2320000Grade: 0.16Grade Unit: %Contained Metal: 3.7Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7debc9e403bc58bdc29b
- Deposit or zone
- Copala
Resource Data
- Category
- inferred
- Tonnes
- 2320000
- Grade
- 0.16
- Grade Unit
- %
- Contained Metal
- 3.7
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present as a minor component in the Copala Inferred resource, adding to the polymetallic value.
Positive factors
- Lead contributes to polymetallic nature of the resource
Negative factors
- Lower confidence category
Evidence · table
“0.16”
Context: 2.32
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · zincTonnes: 2320000Grade: 0.27Grade Unit: %Contained Metal: 6.2Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7debc9e403bc58bdc29b
- Deposit or zone
- Copala
Resource Data
- Category
- inferred
- Tonnes
- 2320000
- Grade
- 0.27
- Grade Unit
- %
- Contained Metal
- 6.2
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present as a minor component in the Copala Inferred resource, adding to the polymetallic value.
Positive factors
- Zinc contributes to polymetallic nature of the resource
Negative factors
- Lower confidence category
Evidence · table
“0.27”
Context: 2.32
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · silverTonnes: 890000Grade: 346Grade Unit: g/tContained Metal: 9936Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:37efa8cbb193946b6cc5
- Deposit or zone
- Tajitos
Resource Data
- Category
- inferred
- Tonnes
- 890000
- Grade
- 346
- Grade Unit
- g/t
- Contained Metal
- 9936
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 527
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Tajitos vein contributes a good silver grade to the Inferred resource, representing future exploration potential.
Positive factors
- Good silver grade in Inferred category
Negative factors
- Lower confidence category
Evidence · table
“346”
Context: 0.89
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · goldTonnes: 890000Grade: 2.08Grade Unit: g/tContained Metal: 60Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:37efa8cbb193946b6cc5
- Deposit or zone
- Tajitos
Resource Data
- Category
- inferred
- Tonnes
- 890000
- Grade
- 2.08
- Grade Unit
- g/t
- Contained Metal
- 60
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 6.66
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Tajitos vein also provides a good gold grade to the Inferred resource, representing future exploration potential.
Positive factors
- Good gold grade in Inferred category
Negative factors
- Lower confidence category
Evidence · table
“2.08”
Context: 0.89
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · leadTonnes: 890000Grade: 0.27Grade Unit: %Contained Metal: 2.4Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:37efa8cbb193946b6cc5
- Deposit or zone
- Tajitos
Resource Data
- Category
- inferred
- Tonnes
- 890000
- Grade
- 0.27
- Grade Unit
- %
- Contained Metal
- 2.4
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present as a minor component in the Tajitos Inferred resource, adding to the polymetallic value.
Positive factors
- Lead contributes to polymetallic nature of the resource
Negative factors
- Lower confidence category
Evidence · table
“0.27”
Context: 0.89
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · zincTonnes: 890000Grade: 0.43Grade Unit: %Contained Metal: 3.9Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:37efa8cbb193946b6cc5
- Deposit or zone
- Tajitos
Resource Data
- Category
- inferred
- Tonnes
- 890000
- Grade
- 0.43
- Grade Unit
- %
- Contained Metal
- 3.9
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present as a minor component in the Tajitos Inferred resource, adding to the polymetallic value.
Positive factors
- Zinc contributes to polymetallic nature of the resource
Negative factors
- Lower confidence category
Evidence · table
“0.43”
Context: 0.89
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · silverTonnes: 340000Grade: 460Grade Unit: g/tContained Metal: 4959Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:3a76b96d7e7025ffc388
- Deposit or zone
- Cristiano
Resource Data
- Category
- inferred
- Tonnes
- 340000
- Grade
- 460
- Grade Unit
- g/t
- Contained Metal
- 4959
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 665
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Cristiano vein shows high silver and silver equivalent grades in the Inferred category, indicating strong potential for future upgrades.
Positive factors
- High silver grade in Inferred category
- High silver equivalent grade
Negative factors
- Lower confidence category
Evidence · table
“460”
Context: 0.34
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · goldTonnes: 340000Grade: 2.49Grade Unit: g/tContained Metal: 27Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:3a76b96d7e7025ffc388
- Deposit or zone
- Cristiano
Resource Data
- Category
- inferred
- Tonnes
- 340000
- Grade
- 2.49
- Grade Unit
- g/t
- Contained Metal
- 27
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 8.57
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Cristiano vein also provides a strong gold grade to the Inferred resource, indicating good potential.
Positive factors
- Strong gold grade in Inferred category
- High gold equivalent grade
Negative factors
- Lower confidence category
Evidence · table
“2.49”
Context: 0.34
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · leadTonnes: 340000Grade: 0.16Grade Unit: %Contained Metal: 0.5Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:3a76b96d7e7025ffc388
- Deposit or zone
- Cristiano
Resource Data
- Category
- inferred
- Tonnes
- 340000
- Grade
- 0.16
- Grade Unit
- %
- Contained Metal
- 0.5
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present as a minor component in the Cristiano Inferred resource, adding to the polymetallic value.
Positive factors
- Lead contributes to polymetallic nature of the resource
Negative factors
- Lower confidence category
Evidence · table
“0.16”
Context: 0.34
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · zincTonnes: 340000Grade: 0.31Grade Unit: %Contained Metal: 1Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:3a76b96d7e7025ffc388
- Deposit or zone
- Cristiano
Resource Data
- Category
- inferred
- Tonnes
- 340000
- Grade
- 0.31
- Grade Unit
- %
- Contained Metal
- 1
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present as a minor component in the Cristiano Inferred resource, adding to the polymetallic value.
Positive factors
- Zinc contributes to polymetallic nature of the resource
Negative factors
- Lower confidence category
Evidence · table
“0.31”
Context: 0.34
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · silverTonnes: 3550000Grade: 341Grade Unit: g/tContained Metal: 38909Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:674d043f8b850196dff7
- Deposit or zone
- Copala Area
Resource Data
- Category
- inferred
- Tonnes
- 3550000
- Grade
- 341
- Grade Unit
- g/t
- Contained Metal
- 38909
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 507
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Copala Area total represents a substantial portion of the Inferred resource with good silver equivalent grades and contained ounces, indicating future potential.
Positive factors
- Large tonnage in Inferred category for Copala Area
- Good silver equivalent grade
- Significant contained silver equivalent ounces
Negative factors
- Lower confidence category
Evidence · table
“341”
Context: 3.55
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · goldTonnes: 3550000Grade: 1.96Grade Unit: g/tContained Metal: 224Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:674d043f8b850196dff7
- Deposit or zone
- Copala Area
Resource Data
- Category
- inferred
- Tonnes
- 3550000
- Grade
- 1.96
- Grade Unit
- g/t
- Contained Metal
- 224
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 6.48
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Copala Area total also provides a good gold grade to the Inferred resource, representing future exploration potential.
Positive factors
- Good gold grade in Inferred category for Copala Area
- Significant contained gold equivalent ounces
Negative factors
- Lower confidence category
Evidence · table
“1.96”
Context: 3.55
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · leadTonnes: 3550000Grade: 0.19Grade Unit: %Contained Metal: 6.7Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:674d043f8b850196dff7
- Deposit or zone
- Copala Area
Resource Data
- Category
- inferred
- Tonnes
- 3550000
- Grade
- 0.19
- Grade Unit
- %
- Contained Metal
- 6.7
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present as a minor component in the Copala Area Inferred resource, adding to the polymetallic value.
Positive factors
- Lead contributes to polymetallic nature of the resource
Negative factors
- Lower confidence category
Evidence · table
“0.19”
Context: 3.55
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · zincTonnes: 3550000Grade: 0.31Grade Unit: %Contained Metal: 11.1Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:674d043f8b850196dff7
- Deposit or zone
- Copala Area
Resource Data
- Category
- inferred
- Tonnes
- 3550000
- Grade
- 0.31
- Grade Unit
- %
- Contained Metal
- 11.1
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present as a minor component in the Copala Area Inferred resource, adding to the polymetallic value.
Positive factors
- Zinc contributes to polymetallic nature of the resource
Negative factors
- Lower confidence category
Evidence · table
“0.31”
Context: 3.55
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · silverTonnes: 2280000Grade: 159Grade Unit: g/tContained Metal: 11637Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:f78f0428a600cb319e03
- Deposit or zone
- Napoleon
Resource Data
- Category
- inferred
- Tonnes
- 2280000
- Grade
- 159
- Grade Unit
- g/t
- Contained Metal
- 11637
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 340
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Napoleon vein contributes to the Inferred resource with moderate silver grades.
Positive factors
- Contributes to Inferred resource
Negative factors
- Lower confidence category
Evidence · table
“159”
Context: 2.28
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · goldTonnes: 2280000Grade: 1.46Grade Unit: g/tContained Metal: 107Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:f78f0428a600cb319e03
- Deposit or zone
- Napoleon
Resource Data
- Category
- inferred
- Tonnes
- 2280000
- Grade
- 1.46
- Grade Unit
- g/t
- Contained Metal
- 107
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 3.64
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Napoleon vein also provides a gold grade to the Inferred resource.
Positive factors
- Gold contributes to Inferred resource
Negative factors
- Lower confidence category
Evidence · table
“1.46”
Context: 2.28
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · leadTonnes: 2280000Grade: 0.44Grade Unit: %Contained Metal: 10Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:f78f0428a600cb319e03
- Deposit or zone
- Napoleon
Resource Data
- Category
- inferred
- Tonnes
- 2280000
- Grade
- 0.44
- Grade Unit
- %
- Contained Metal
- 10
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present in the Napoleon Inferred resource, adding to the polymetallic value.
Positive factors
- Lead contributes to polymetallic nature of the resource
Negative factors
- Lower confidence category
Evidence · table
“0.44”
Context: 2.28
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · zincTonnes: 2280000Grade: 1.63Grade Unit: %Contained Metal: 37.1Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:f78f0428a600cb319e03
- Deposit or zone
- Napoleon
Resource Data
- Category
- inferred
- Tonnes
- 2280000
- Grade
- 1.63
- Grade Unit
- %
- Contained Metal
- 37.1
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present in the Napoleon Inferred resource, adding to the polymetallic value.
Positive factors
- Zinc contributes to polymetallic nature of the resource
Negative factors
- Lower confidence category
Evidence · table
“1.63”
Context: 2.28
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · silverTonnes: 590000Grade: 202Grade Unit: g/tContained Metal: 3800Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:a060f305eed9dc0ec275
- Deposit or zone
- Napoleon HW
Resource Data
- Category
- inferred
- Tonnes
- 590000
- Grade
- 202
- Grade Unit
- g/t
- Contained Metal
- 3800
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 458
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Napoleon HW vein contributes a good silver grade to the Inferred resource.
Positive factors
- Good silver grade in Inferred category
Negative factors
- Lower confidence category
Evidence · table
“202”
Context: 0.59
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · goldTonnes: 590000Grade: 2.12Grade Unit: g/tContained Metal: 40Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:a060f305eed9dc0ec275
- Deposit or zone
- Napoleon HW
Resource Data
- Category
- inferred
- Tonnes
- 590000
- Grade
- 2.12
- Grade Unit
- g/t
- Contained Metal
- 40
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 4.91
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Napoleon HW vein also provides a good gold grade to the Inferred resource.
Positive factors
- Good gold grade in Inferred category
Negative factors
- Lower confidence category
Evidence · table
“2.12”
Context: 0.59
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · leadTonnes: 590000Grade: 0.64Grade Unit: %Contained Metal: 3.7Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:a060f305eed9dc0ec275
- Deposit or zone
- Napoleon HW
Resource Data
- Category
- inferred
- Tonnes
- 590000
- Grade
- 0.64
- Grade Unit
- %
- Contained Metal
- 3.7
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present in the Napoleon HW Inferred resource, adding to the polymetallic value.
Positive factors
- Higher lead grade in Inferred category
Negative factors
- Lower confidence category
Evidence · table
“0.64”
Context: 0.59
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · zincTonnes: 590000Grade: 2.15Grade Unit: %Contained Metal: 12.6Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:a060f305eed9dc0ec275
- Deposit or zone
- Napoleon HW
Resource Data
- Category
- inferred
- Tonnes
- 590000
- Grade
- 2.15
- Grade Unit
- %
- Contained Metal
- 12.6
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present in the Napoleon HW Inferred resource, adding to the polymetallic value.
Positive factors
- Higher zinc grade in Inferred category
Negative factors
- Lower confidence category
Evidence · table
“2.15”
Context: 0.59
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · silverTonnes: 2830000Grade: 132Grade Unit: g/tContained Metal: 12049Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:fcf7b4acb28ad140feb6
- Deposit or zone
- Luisa
Resource Data
- Category
- inferred
- Tonnes
- 2830000
- Grade
- 132
- Grade Unit
- g/t
- Contained Metal
- 12049
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 355
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Luisa vein contributes to the Inferred resource with moderate silver grades.
Positive factors
- Contributes to Inferred resource
Negative factors
- Lower confidence category
Evidence · table
“132”
Context: 2.83
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · goldTonnes: 2830000Grade: 2.24Grade Unit: g/tContained Metal: 204Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:fcf7b4acb28ad140feb6
- Deposit or zone
- Luisa
Resource Data
- Category
- inferred
- Tonnes
- 2830000
- Grade
- 2.24
- Grade Unit
- g/t
- Contained Metal
- 204
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 4.05
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Luisa vein also provides a good gold grade to the Inferred resource.
Positive factors
- Good gold grade in Inferred category
Negative factors
- Lower confidence category
Evidence · table
“2.24”
Context: 2.83
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · leadTonnes: 2830000Grade: 0.28Grade Unit: %Contained Metal: 8.1Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:fcf7b4acb28ad140feb6
- Deposit or zone
- Luisa
Resource Data
- Category
- inferred
- Tonnes
- 2830000
- Grade
- 0.28
- Grade Unit
- %
- Contained Metal
- 8.1
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present in the Luisa Inferred resource, adding to the polymetallic value.
Positive factors
- Lead contributes to polymetallic nature of the resource
Negative factors
- Lower confidence category
Evidence · table
“0.28”
Context: 2.83
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · zincTonnes: 2830000Grade: 1.24Grade Unit: %Contained Metal: 35.2Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:fcf7b4acb28ad140feb6
- Deposit or zone
- Luisa
Resource Data
- Category
- inferred
- Tonnes
- 2830000
- Grade
- 1.24
- Grade Unit
- %
- Contained Metal
- 35.2
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present in the Luisa Inferred resource, adding to the polymetallic value.
Positive factors
- Zinc contributes to polymetallic nature of the resource
Negative factors
- Lower confidence category
Evidence · table
“1.24”
Context: 2.83
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · silverTonnes: 210000Grade: 176Grade Unit: g/tContained Metal: 1180Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:caf7642e6ac076e65590
- Deposit or zone
- Josephine
Resource Data
- Category
- inferred
- Tonnes
- 210000
- Grade
- 176
- Grade Unit
- g/t
- Contained Metal
- 1180
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 360
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Josephine vein contributes to the Inferred resource with good silver grades.
Positive factors
- Good silver grade in Inferred category
Negative factors
- Lower confidence category
Evidence · table
“176”
Context: 0.21
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · goldTonnes: 210000Grade: 1.81Grade Unit: g/tContained Metal: 12Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:caf7642e6ac076e65590
- Deposit or zone
- Josephine
Resource Data
- Category
- inferred
- Tonnes
- 210000
- Grade
- 1.81
- Grade Unit
- g/t
- Contained Metal
- 12
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 4.19
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Josephine vein also provides a good gold grade to the Inferred resource.
Positive factors
- Good gold grade in Inferred category
Negative factors
- Lower confidence category
Evidence · table
“1.81”
Context: 0.21
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · leadTonnes: 210000Grade: 0.34Grade Unit: %Contained Metal: 0.7Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:caf7642e6ac076e65590
- Deposit or zone
- Josephine
Resource Data
- Category
- inferred
- Tonnes
- 210000
- Grade
- 0.34
- Grade Unit
- %
- Contained Metal
- 0.7
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present in the Josephine Inferred resource, adding to the polymetallic value.
Positive factors
- Lead contributes to polymetallic nature of the resource
Negative factors
- Lower confidence category
Evidence · table
“0.34”
Context: 0.21
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · zincTonnes: 210000Grade: 1.01Grade Unit: %Contained Metal: 2.1Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:caf7642e6ac076e65590
- Deposit or zone
- Josephine
Resource Data
- Category
- inferred
- Tonnes
- 210000
- Grade
- 1.01
- Grade Unit
- %
- Contained Metal
- 2.1
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present in the Josephine Inferred resource, adding to the polymetallic value.
Positive factors
- Zinc contributes to polymetallic nature of the resource
Negative factors
- Lower confidence category
Evidence · table
“1.01”
Context: 0.21
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · silverTonnes: 350000Grade: 171Grade Unit: g/tContained Metal: 1907Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7891b7afac2dd1f85593
- Deposit or zone
- Cruz
Resource Data
- Category
- inferred
- Tonnes
- 350000
- Grade
- 171
- Grade Unit
- g/t
- Contained Metal
- 1907
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 510
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Cruz vein contributes to the Inferred resource with good silver grades.
Positive factors
- Good silver grade in Inferred category
Negative factors
- Lower confidence category
Evidence · table
“171”
Context: 0.35
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · goldTonnes: 350000Grade: 3.58Grade Unit: g/tContained Metal: 40Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7891b7afac2dd1f85593
- Deposit or zone
- Cruz
Resource Data
- Category
- inferred
- Tonnes
- 350000
- Grade
- 3.58
- Grade Unit
- g/t
- Contained Metal
- 40
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 5.92
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Cruz vein also provides a strong gold grade to the Inferred resource.
Positive factors
- Strong gold grade in Inferred category
Negative factors
- Lower confidence category
Evidence · table
“3.58”
Context: 0.35
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · leadTonnes: 350000Grade: 0.3Grade Unit: %Contained Metal: 1Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7891b7afac2dd1f85593
- Deposit or zone
- Cruz
Resource Data
- Category
- inferred
- Tonnes
- 350000
- Grade
- 0.3
- Grade Unit
- %
- Contained Metal
- 1
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present in the Cruz Inferred resource, adding to the polymetallic value.
Positive factors
- Lead contributes to polymetallic nature of the resource
Negative factors
- Lower confidence category
Evidence · table
“0.30”
Context: 0.35
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · zincTonnes: 350000Grade: 1.64Grade Unit: %Contained Metal: 5.7Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7891b7afac2dd1f85593
- Deposit or zone
- Cruz
Resource Data
- Category
- inferred
- Tonnes
- 350000
- Grade
- 1.64
- Grade Unit
- %
- Contained Metal
- 5.7
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present in the Cruz Inferred resource, adding to the polymetallic value.
Positive factors
- Zinc contributes to polymetallic nature of the resource
Negative factors
- Lower confidence category
Evidence · table
“1.64”
Context: 0.35
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · silverTonnes: 6250000Grade: 152Grade Unit: g/tContained Metal: 30573Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7a7ea103766af5e933c6
- Deposit or zone
- Napoleon Area
Resource Data
- Category
- inferred
- Tonnes
- 6250000
- Grade
- 152
- Grade Unit
- g/t
- Contained Metal
- 30573
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 368
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Napoleon Area total represents a substantial portion of the Inferred resource with good contained silver equivalent ounces, indicating future potential.
Positive factors
- Large tonnage in Inferred category for Napoleon Area
- Significant contained silver equivalent ounces
Negative factors
- Lower confidence category
Evidence · table
“152”
Context: 6.25
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · goldTonnes: 6250000Grade: 2Grade Unit: g/tContained Metal: 403Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7a7ea103766af5e933c6
- Deposit or zone
- Napoleon Area
Resource Data
- Category
- inferred
- Tonnes
- 6250000
- Grade
- 2
- Grade Unit
- g/t
- Contained Metal
- 403
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 4.09
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Napoleon Area total also provides a good gold grade to the Inferred resource, representing future exploration potential.
Positive factors
- Good gold grade in Inferred category for Napoleon Area
- Significant contained gold equivalent ounces
Negative factors
- Lower confidence category
Evidence · table
“2.00”
Context: 6.25
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · leadTonnes: 6250000Grade: 0.38Grade Unit: %Contained Metal: 23.5Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7a7ea103766af5e933c6
- Deposit or zone
- Napoleon Area
Resource Data
- Category
- inferred
- Tonnes
- 6250000
- Grade
- 0.38
- Grade Unit
- %
- Contained Metal
- 23.5
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present in the Napoleon Area Inferred resource, adding to the polymetallic value.
Positive factors
- Lead contributes to polymetallic nature of the resource
Negative factors
- Lower confidence category
Evidence · table
“0.38”
Context: 6.25
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · zincTonnes: 6250000Grade: 1.48Grade Unit: %Contained Metal: 92.6Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7a7ea103766af5e933c6
- Deposit or zone
- Napoleon Area
Resource Data
- Category
- inferred
- Tonnes
- 6250000
- Grade
- 1.48
- Grade Unit
- %
- Contained Metal
- 92.6
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present in the Napoleon Area Inferred resource, adding to the polymetallic value.
Positive factors
- Zinc contributes to polymetallic nature of the resource
Negative factors
- Lower confidence category
Evidence · table
“1.48”
Context: 6.25
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · silverTonnes: 300000Grade: 226Grade Unit: g/tContained Metal: 2038Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:e06538645bc73b05de6b
- Deposit or zone
- San Antonio
Resource Data
- Category
- inferred
- Tonnes
- 300000
- Grade
- 226
- Grade Unit
- g/t
- Contained Metal
- 2038
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 325
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The San Antonio vein contributes to the Inferred resource with good silver grades, but uses different metal price assumptions for its equivalent calculation.
Positive factors
- Good silver grade in Inferred category
Negative factors
- Lower confidence category
- Different metal price assumptions used for equivalent calculation
Evidence · table
“226”
Context: 0.30
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · goldTonnes: 300000Grade: 1.3Grade Unit: g/tContained Metal: 12Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:e06538645bc73b05de6b
- Deposit or zone
- San Antonio
Resource Data
- Category
- inferred
- Tonnes
- 300000
- Grade
- 1.3
- Grade Unit
- g/t
- Contained Metal
- 12
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 4.33
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The San Antonio vein also provides a gold grade to the Inferred resource, but uses different metal price assumptions for its equivalent calculation.
Positive factors
- Gold contributes to Inferred resource
Negative factors
- Lower confidence category
- Different metal price assumptions used for equivalent calculation
Evidence · table
“1.30”
Context: 0.30
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · leadTonnes: 300000Grade: 0.01Grade Unit: %Contained Metal: 0Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:e06538645bc73b05de6b
- Deposit or zone
- San Antonio
Resource Data
- Category
- inferred
- Tonnes
- 300000
- Grade
- 0.01
- Grade Unit
- %
- Contained Metal
- 0
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present as a very minor component in the San Antonio Inferred resource, with different metal price assumptions for its equivalent calculation.
Negative factors
- Very low grade
- Lower confidence category
- Different metal price assumptions used for equivalent calculation
Evidence · table
“0.01”
Context: 0.30
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · zincTonnes: 300000Grade: 0.03Grade Unit: %Contained Metal: 0.1Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:e06538645bc73b05de6b
- Deposit or zone
- San Antonio
Resource Data
- Category
- inferred
- Tonnes
- 300000
- Grade
- 0.03
- Grade Unit
- %
- Contained Metal
- 0.1
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present as a very minor component in the San Antonio Inferred resource, with different metal price assumptions for its equivalent calculation.
Negative factors
- Very low grade
- Lower confidence category
- Different metal price assumptions used for equivalent calculation
Evidence · table
“0.03”
Context: 0.30
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · silverTonnes: 400000Grade: 169Grade Unit: g/tContained Metal: 2101Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:785cfdf2ab9facd3ca5e
- Deposit or zone
- Animas
Resource Data
- Category
- inferred
- Tonnes
- 400000
- Grade
- 169
- Grade Unit
- g/t
- Contained Metal
- 2101
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 327
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Animas vein contributes to the Inferred resource with good silver grades, but uses different metal price assumptions for its equivalent calculation.
Positive factors
- Good silver grade in Inferred category
Negative factors
- Lower confidence category
- Different metal price assumptions used for equivalent calculation
Evidence · table
“169”
Context: 0.40
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · goldTonnes: 400000Grade: 1.68Grade Unit: g/tContained Metal: 21Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:785cfdf2ab9facd3ca5e
- Deposit or zone
- Animas
Resource Data
- Category
- inferred
- Tonnes
- 400000
- Grade
- 1.68
- Grade Unit
- g/t
- Contained Metal
- 21
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 4.37
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Animas vein also provides a gold grade to the Inferred resource, but uses different metal price assumptions for its equivalent calculation.
Positive factors
- Gold contributes to Inferred resource
Negative factors
- Lower confidence category
- Different metal price assumptions used for equivalent calculation
Evidence · table
“1.68”
Context: 0.40
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · leadTonnes: 400000Grade: 0.29Grade Unit: %Contained Metal: 1.1Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:785cfdf2ab9facd3ca5e
- Deposit or zone
- Animas
Resource Data
- Category
- inferred
- Tonnes
- 400000
- Grade
- 0.29
- Grade Unit
- %
- Contained Metal
- 1.1
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Lead is present in the Animas Inferred resource, adding to the polymetallic value, but uses different metal price assumptions for its equivalent calculation.
Positive factors
- Lead contributes to polymetallic nature of the resource
Negative factors
- Lower confidence category
- Different metal price assumptions used for equivalent calculation
Evidence · table
“0.29”
Context: 0.40
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · zincTonnes: 400000Grade: 0.6Grade Unit: %Contained Metal: 2.3Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:785cfdf2ab9facd3ca5e
- Deposit or zone
- Animas
Resource Data
- Category
- inferred
- Tonnes
- 400000
- Grade
- 0.6
- Grade Unit
- %
- Contained Metal
- 2.3
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: Zinc is present in the Animas Inferred resource, adding to the polymetallic value, but uses different metal price assumptions for its equivalent calculation.
Positive factors
- Zinc contributes to polymetallic nature of the resource
Negative factors
- Lower confidence category
- Different metal price assumptions used for equivalent calculation
Evidence · table
“0.60”
Context: 0.40
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · silverTonnes: 10500000Grade: 219Grade Unit: g/tContained Metal: 73621Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- silver
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:7bb5c8a19f80c42373b7
Resource Data
- Category
- inferred
- Tonnes
- 10500000
- Grade
- 219
- Grade Unit
- g/t
- Contained Metal
- 73621
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
- Prior Grade
- 433
- Prior Contained Metal
- 169600
Metal Equivalent
- Metal Eq. Grade
- 412
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The total Inferred resource shows a decrease in both contained silver equivalent ounces and grade, primarily due to conversion to higher confidence categories, but still represents future exploration potential.
Negative factors
- Lower confidence category
- Decrease in Inferred resources (18% decrease)
- Decrease in Inferred grade (4.9% decrease)
Evidence · table
“219”
Context: 10.50
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Grade Declinenegative
Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: 219 against 433 previously
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: 73621 against 169600 previously
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · goldTonnes: 10500000Grade: 1.96Grade Unit: g/tContained Metal: 660Contained Unit: kozView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- gold
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:216546f64ae4efd74f96
Resource Data
- Category
- inferred
- Tonnes
- 10500000
- Grade
- 1.96
- Grade Unit
- g/t
- Contained Metal
- 660
- Contained Unit
- koz
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Metal Eq. Grade
- 4.91
- Metal Eq. Unit
- g/t AuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The total Inferred resource includes a substantial gold component, representing future exploration potential.
Positive factors
- Significant contained gold equivalent ounces
Negative factors
- Lower confidence category
Evidence · table
“1.96”
Context: 10.50
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · leadTonnes: 10500000Grade: 0.3Grade Unit: %Contained Metal: 31.2Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- lead
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:216546f64ae4efd74f96
Resource Data
- Category
- inferred
- Tonnes
- 10500000
- Grade
- 0.3
- Grade Unit
- %
- Contained Metal
- 31.2
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Inferred resource includes minor lead content, contributing to the overall polymetallic profile.
Positive factors
- Lead contributes to the polymetallic nature of the resource
Negative factors
- Lower confidence category
Evidence · table
“0.30”
Context: 10.50
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredPanuco · zincTonnes: 10500000Grade: 1.01Grade Unit: %Contained Metal: 106.2Contained Unit: ktView all detailsHide details
Identity
- Project
- Panuco
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Western Mexico
- Ticker
- VROY
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Jesus Velador
- Resource group id
- resource:216546f64ae4efd74f96
Resource Data
- Category
- inferred
- Tonnes
- 10500000
- Grade
- 1.01
- Grade Unit
- %
- Contained Metal
- 106.2
- Contained Unit
- kt
- Cutoff Grade
- 150
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2025-01-06
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-01-08T00:00:00.000Z
Reasoning: The Inferred resource includes minor zinc content, contributing to the overall polymetallic profile.
Positive factors
- Zinc contributes to the polymetallic nature of the resource
Negative factors
- Lower confidence category
Evidence · table
“1.01”
Context: 10.50
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.