Project History
The San Luis de Cordero Project is a past-producing underground silver-copper mine in Durango, Mexico, within one of the world's most prolific silver belts. The project has a well-established operating history, having been actively mined from the 1960s through the early 1980s.
During its period of operation, the mine produced approximately 70,000 tonnes of mineralized material, with average grades of approximately 650 g/t silver and 2.5% copper, reflecting the high-grade nature of the deposit.
Closure and Market Conditions
Mining operations at San Luis de Cordero were suspended in the early 1980s. Importantly, the closure was not due to depletion of the resource, but rather a combination of external factors, including:
- Prolonged period of low silver prices
- Closure of the nearby San Potosí smelter
- Limited access to processing infrastructure at the time
These conditions significantly affected the operation's economic viability, leading to its shutdown despite remaining mineralization.
Strategic Location
The project is situated within the Sierra Madre mineral belt, specifically in the Altiplano region, which hosts numerous producing mines and established processing facilities.
The surrounding area remains an active mining district, with:
- Multiple operating mines
- Existing mills within trucking distance
- Access to regional infrastructure and a skilled workforce
This location continues to support the project’s strong redevelopment potential.
Modern Relevance
Today, San Luis de Cordero represents a compelling opportunity to reactivate a historically productive, high-grade asset under significantly improved market and operational conditions.
Key advantages compared to its historical operation include:
- Higher and more stable silver price environment
- Access to nearby third-party processing facilities
- Advances in mining technology and mechanization
- Improved infrastructure and logistics
These factors support a more efficient and economically viable path to production than was previously possible.
A Strong Foundation for Restart
The historical work completed at San Luis de Cordero—including underground development, production data, and geological understanding—provides a solid foundation for the Company’s current development strategy.
North American Silver is building on this legacy by applying modern techniques and a disciplined approach to advance the project toward near-term reactivation and production.