Mining exploration advances in Peru with new gold and silver targets

Mining companies are advancing exploration projects for gold and silver in Peru.

Excellon Resources has identified new potential zones at its Tres Cerros project. Geological mapping and geochemical sampling revealed seven target areas with favorable characteristics. Notable surface samples at the Xica, Alpaquitay, and Xica East targets showed high concentrations, with Xica recording up to 14 grams of gold and 9,050 grams of silver per tonne. The company also identified lead and zinc anomalies, suggesting potential copper porphyry systems. Excellon plans to submit an Environmental Impact Statement to the Ministry of Energy and Mines by late 2026, with drilling expected to begin in the first half of 2027.

Separately, Condor Resources has received approval for an Environmental Impact Declaration (DIA) for its Pucamayo Sur project, located between Ica, Lima, and Huancavelica. This permit allows for a drilling campaign of up to 6,000 meters across 40 platforms to evaluate a second hydromagmatic center. The project area features a high-sulfidation alteration zone identified through aerial magnetic studies. Following this approval, the company will focus on obtaining final activity commencement permits and preparing the site for drilling.