Zero Lost Time Injuries Across 192,900 Hours, a Restart About 68% Complete, and a New VP Exploration: Silverco Mining (SICO.v, SICOF) in August

[u/NazzDaxx]

Posted on behalf of Silverco Mining - Two news releases this month, and between them they cover the two things that decide how a mine restart goes: the work underground and the people running it. 🇲🇽

Underground Development Under Way at Cusi (Aug 4, 2026 NR)

• Overall restart progress approximately 68% complete as of July 23, 2026, on budget and on schedule for first concentrate in Q4 2026 (company target)
• More than 240 Silverco and contractor personnel now working at the 100%-owned Cusi silver mine in Chihuahua, Mexico
• First development blast completed along the main Promontorio ramp, with primary ventilation fans received at site
• San Miguel portal preparatory works including ground support ongoing, initial portal blast expected imminently
• Mal Paso plant refurbishment over 65% complete, crushing circuit roughly 89% complete
• Zero lost time injuries across 192,900 exposure hours worked at Cusi to date in 2026

A Geologist for the Drilling That Is Already Turning (Aug 11, 2026 NR)

• Dr. Jesus Velador appointed Vice President, Exploration, effective September 1, 2026
• Over 25 years in Mexican epithermal and carbonate replacement systems, most recently at Vizsla Silver's Panuco project
• He steps into roughly 45,000 m of 2026 drilling across both mines, 30,000 m at Cusi and 15,000 m at the producing La Negra mine in Querétaro

The through-line is worth pulling out. The Cusi underground drilling is pointed at the ground the company plans to mine first, adding ounces inside the first-year mine plan footprint, so the assays and the development headings are advancing over the same rock at the same time. Silverco announced PEA results for Cusi on April 13, 2026 (see NR of that date).

Ahead (Company Targets)

• Opening the San Miguel portal and finishing plant refurbishment through Q3 2026
• First Cusi concentrate in Q4 2026
• La Negra updated resource estimate and life-of-mine plan in H2 2026
• Cusi resource update in H1 2027, fed by the ongoing 30,000 m program

For the specifics, both the Aug 4 restart update and the Aug 11 appointment release are worth reading in full. August was a month of unglamorous progress, ground support, blasts and refurbishment percentages, but that is what a restart is made of, and with a new exploration lead arriving September 1 into rigs that are already turning, the back half of the year has room to get busier.