Michigan survey ahead; Applied Digital surges; gold dips - what’s moving markets
VANCOUVER - Pan American Silver Corp. (NYSE:PAAS) (TSX:PAAS), a $12.5 billion market cap silver producer with a perfect Piotroski Score of 9 according to InvestingPro, announced Monday new drill results from its La Colorada mine in Zacatecas, Mexico, showing multiple high-grade silver veins that could potentially expand mineral resources and extend mine life.
The exploration program, conducted from November 2024 to June 2025, completed approximately 65,000 meters of drilling across 170 holes, with results indicating significant eastward extensions of mineralization along the NC2 and Mariana vein systems. The company’s strong financial position, with a current ratio of 3.05 and moderate debt levels, provides ample support for its ambitious exploration initiatives.
Notable intercepts from the Mariana vein include 3.66 meters grading 3,844 g/t silver and 11.05% zinc, while the NC2 vein yielded 2.27 meters at 5,876 g/t silver. The Mariana vein now spans approximately 1,000 meters with a vertical extent exceeding 350 meters, while the NC2 vein system extends over 2,000 meters on strike.
"Our exploration efforts have identified high-grade intercepts below and along the strike of the known La Colorada vein system, east of the defined mineral resource footprint demonstrating opportunities for further mineral resource expansion," said Christopher Emerson, Pan American’s Senior Vice President of Exploration and Geology.
The company also reported the discovery of a new style of high-grade silver and base metal replacement mineralization at the lithological contact between volcanic and sedimentary host rocks in the southeastern mine area, with one intercept showing 50.30 meters at 258 g/t silver.
Additionally, exploration in the southeast sector successfully extended the Cristina and San Geronimo vein systems, with mineralization now extending approximately 500 meters along strike and 500 meters vertically.
The company plans to include these findings in its annual mineral reserves and mineral resources update as of June 30, 2025, according to the press release statement. With revenue growth of 21% over the last twelve months and an impressive 89% stock return over the past year, Pan American Silver continues to demonstrate strong operational execution. For detailed analysis and 12 additional exclusive insights, visit InvestingPro, where you’ll find comprehensive research reports covering what really matters about this silver producer’s performance and prospects.
In other recent news, Pan American Silver Corp. has completed its acquisition of MAG Silver Corp., a transaction valued at approximately $2.55 billion. This strategic move, which includes a 44% joint venture interest in the Juanicipio silver mine in Zacatecas, Mexico, was finalized with $500 million in cash and about 60.2 million Pan American shares. The acquisition is anticipated to boost Pan American’s silver production by approximately 5 million ounces annually, marking a 22% increase. Mexican regulators, including the Federal Economic Competition Commission, have approved the deal, clearing the final regulatory hurdle.
In light of this acquisition, BMO Capital has raised its price target for Pan American Silver to C$45.00, maintaining a Market Perform rating. Conversely, Scotiabank has slightly lowered its price target to $36.00 while keeping a Sector Outperform rating. Former MAG shareholders now hold about 14.3% of Pan American’s outstanding shares on a fully diluted basis. These developments reflect the company’s strategic expansion efforts within the silver market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.