Silver X’s full Ccasahuasi gold ownership: exploration upside for mine planners
Reviewed by Tom Sullivan
First reported on MINING.com
30 Second Briefing
Silver X Mining has acquired Barrick’s Lily 19 concession, giving it 100% ownership of the early-stage Ccasahuasi gold project in Peru for US$30,000 plus a net smelter return royalty with partial buyback. Ccasahuasi, located 1 km from the producing Tangana mine and within the 204.7 sq. km Nueva Recuperada land package, hosts an inferred 42,303 oz gold resource defined by just under 1,000 m of drilling over a 13.5 sq. km gold system. Limited drilling to date includes three holes with >26 m intercepts above 0.7 g/t Au and a 40 m-thick mineralised body interpreted to extend toward Tangana.
Technical Brief
- Silver X has executed a multi‑phase exploration programme at Ccasahuasi since 2021, covering early‑stage resource definition.
- Geological mapping and surface sampling defined a gold system footprint of roughly 13.5 km².
- Four diamond drillholes have been completed to date, with three returning >26 m intercepts above 0.7 g/t Au.
- The mineralised body is currently interpreted by Silver X geologists as ~40 m thick, trending toward Tangana.
- The system remains untested at depth and along strike, leaving resource geometry and continuity largely unconstrained.
- Nueva Recuperada land position now totals 230 mining concessions over 204.7 km² assembled from multiple vendors.
- Historic mining in the Nueva Recuperada district has produced an estimated 200 Moz silver equivalent since the 16th century.
- Tangana’s silver‑lead‑zinc mine, restored in 2022, is ramping toward 720 t/d nameplate capacity at the Nueva Recuperada plant, offering potential shared processing for future Ccasahuasi ore.
Our Take
Silver X Mining’s move to 100% ownership of the Ccasahuasi gold project comes shortly after its oversubscribed C$69 million convertible debenture raise in our database, suggesting the company is deliberately redeploying fresh balance-sheet capacity into district-scale consolidation around Nueva Recuperada.
Barrick Mining’s disposal of this Peru gold asset aligns with our recent coverage of its strategy to streamline and refocus on core North American and tier‑one gold districts, as seen in the planned ‘North American Barrick’ spin‑off and associated $3 billion buyback.
With 230 concessions over 204.7 sq km and both silver and gold in central Peru, Silver X now sits among the more aggressively aggregating juniors in our Mining projects coverage, which likely positions it as a potential partner or bolt‑on target for larger Latin America‑focused producers such as Pan American Silver or Buenaventura already present in our database.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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