Texas Mineral Resources reports promising drill results at New Mexico site

SIERRA BLANCA, Texas - Texas Mineral Resources Corp. (OTCQB:TMRC), a mining exploration company with a market capitalization of $59.27 million that has seen its stock surge over 215% year-to-date, announced Thursday preliminary results from exploratory drilling at the Black Hawk Mining District in Grant County, New Mexico, where the company has been evaluating a potential joint venture with Santa Fe Gold Corporation. According to InvestingPro, the company has shown strong momentum with a 265% return over the past year.

The company completed 20 diamond drill holes totaling 2,751.5 feet at the historic Alhambra mine during March through May 2025. Of the 11 holes drilled to test electromagnetic anomalies, 10 successfully intersected visible sulfide-bearing veins at or near projected depths. InvestingPro analysis reveals 8 additional key insights about TMRC’s performance and financial health, available to subscribers.

"The success of NANOTEM in identifying veins in this district is encouraging for ongoing exploration and development of the project," said Daniel Gorski, CEO of TMRC.

The drilling program had two main objectives: testing the validity of the electromagnetic survey method in locating veins, and assessing if ore remains within the upper part of the historic Alhambra mine workings.

The Black Hawk Mining District contains what are commonly called Five Element Veins. At the Alhambra site, these structures have been described as carbonate-filled formations typically two to three feet wide with a high-grade core varying from one inch to eighteen inches thick.

TMRC is working with the New Mexico Bureau of Geology and Mineral Resources on logging, sample preparation, and analysis of the drill core. Complete analytical results are still pending.

The company noted that any joint venture agreement with Santa Fe Gold would be subject to successful exploration outcomes leading to a bankable feasibility study. TMRC currently holds an option agreement with Santa Fe Gold dating from 2021.

Based on a press release statement, TMRC’s primary focus remains developing the Round Top heavy-rare earth and technology metals project in Hudspeth County, Texas, in which it holds approximately 19.3% interest. With an overall Financial Health score of "FAIR" according to InvestingPro, investors should note that the company’s next earnings report is scheduled for July 30, 2025. Current analysis suggests the stock is trading above its Fair Value.

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