Pacifica Silver Expands Drilling Campaign Amidst Global Supply Concerns

Pacifica Silver is significantly accelerating exploration activities at its Claudia silver-gold project located in Durango, Mexico. This strategic push for faster resource definition comes against the backdrop of a persistent global supply deficit in the silver market, now in its sixth consecutive year. The company’s operational shift follows a period of notable productivity earlier this year.

Management and Oversight Strengthened

Concurrent with the technical expansion, Pacifica Silver has realigned its leadership and administrative framework. Dr. Steven I. Weiss has been appointed Interim Vice President of Exploration, taking on technical leadership of the Claudia project as field activities ramp up.

Furthermore, the company has engaged Davidson & Co. as its new auditor. This change is designed to align financial oversight with the project’s increased scale and the company’s growing market presence. These structural adjustments coincide with the project entering a phase of intensive geological evaluation.

Drilling Program Scaled Up

To advance its goals, the company has substantially increased its Phase II drilling program. The original plan for 12,000 meters has been expanded by 67%, raising the total target to 20,000 meters. Operations are already well underway, with field crews having completed 6,452 meters across 25 drill holes by mid-March 2026.

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The financial foundation for this enlarged campaign was secured in January 2026 through a financing round that raised $23 million USD. This capital, combined with permits received in February for up to 153 drill holes, provides the necessary flexibility for the current work. Despite this operational offensive, the company’s shares touched a new 52-week low of €0.76 in recent trading.

Priority Geological Targets

The expanded drilling effort is focused on several high-priority zones within the project area. Primary attention is on the Mina Vieja and Mina de Oro areas, where previous surface sampling returned high-grade results including up to 22.7 g/t gold and 480 g/t silver.

Another key focus remains the Justina vein. Historical drilling at this target intersected a 2.10-meter section grading 3.53 g/t gold and 460 g/t silver. The company is currently utilizing three active drill rigs to test these structures at depth and along strike, aiming to better understand the continuity of the mineralization.

With assays from the initial drill holes still pending, the on-site team is concurrently focusing on developing a comprehensive resource model for the Durango project. Pacifica Silver’s aggressive strategy positions it to potentially capitalize on the ongoing structural deficit in the global silver market.