Mine Output Hits a Decade High and the Silver Deficit Still Won't Close

Issued on behalf of Americore Resources Corp.

Equity-Insider.com News Commentary

VANCOUVER, BC, March 11, 2026 /PRNewswire/ --— Global silver mine production is forecast to climb 1% to 820 million ounces in 2026, a ten-year high fueled by new project commissioning in Mexico, Canada, and Morocco, yet the market is still expected to post a 67-million-ounce deficit for the sixth year running^[1]. Silver consolidated near $80 per ounce after breaching $100 in January, and tight physical availability in London continues to underpin the structural floor beneath prices^[2]. Americore Resources (TSXV: AMCO) (OTCQB: AMCOF), Santacruz Silver Mining (TSXV: SCZ), Vizsla Silver (NYSE: VZLA), Aya Gold & Silver (TSX: AYA), and Hecla Mining (NYSE: HL) are each advancing through different stages of this tightening cycle.

Industrial fabrication is projected to dip 2% to roughly 650 million ounces as solar panel manufacturers accelerate thrifting and copper substitution, but data center buildouts, AI infrastructure, and automotive electrification are absorbing much of the slack^[3]. Physical investment demand is expected to surge 20% to 227 million ounces, reaching a three-year peak as investor confidence strengthens around silver's dual monetary and industrial role^[4].

Americore Resources (TSXV: AMCO) (OTCQB: AMCOF) has completed a drone-magnetometer survey spanning roughly 350 line-km across its wholly owned Trinity Silver Project in Pershing County, Nevada. Pioneer Exploration Consultants of Ottawa flew the survey along a 6-kilometer southwest-to-northeast strike centered on the Trinity open pit, targeting subsurface structures across the full project footprint. Campbell and Walker Geophysics is now performing a detailed interpretation of the newly acquired data, integrating all available historic geophysical records to build a unified structural model for the property.

Trinity sits within a 22,700-acre consolidated land package that incorporates optioned ground from Primus Resources surrounding a former US Borax open pit. The property carries a historic resource of 36 million silver-equivalent ounces, and Americore has been methodically compiling the geological datasets needed to advance toward a modern NI 43-101 resource estimate. An extensive historic drill database underpins the upcoming confirmation and expansion campaign.

"We continue to systematically move the Trinity Project forward," said Jeff Poloni, CEO of Americore. "The exploration plan which includes both confirmation and expansion drilling will allow us to move the resource from Inferred to Indicated and will become the foundation for a new mineral resource estimate."

Americore has begun the permitting process for a drill program slated to commence in Q2 2026, targeting confirmation and extension of the historic data across both BLM land and fee land administered by the Bureau of Mining Regulation and Reclamation within the Nevada Division of Environmental Protection. The BLM pathway involves a Notice of Disturbance for under 5 acres, a streamlined track that keeps the timeline intact for field mobilization. The company is simultaneously exploring monetization options for an existing above-ground stockpile at Trinity, creating a potential near-term revenue pathway alongside the broader exploration and resource delineation effort.

CONTINUED… Read this and more on Americore at: https://equity-insider.com/2026/01/12/the-only-silver-that-matters-now-is-silver-you-can-touch/

In other industry developments and happenings in the market include:

Santacruz Silver Mining (TSXV: SCZ) (NASDAQ: SCZM) ranked first on the 2026 TSX Venture 50, ranked first overall after posting 1,103% share price appreciation and 1,137% market capitalization growth across 2025. The company operates three mining complexes in Bolivia and the Zimapán mine in Mexico.

"To be named the #1 ranked company on the 2026 TSX Venture 50 is an extraordinary honour and marks a transformative year for Santacruz," said Arturo Préstamo, Executive Chairman and CEO of Santacruz Silver Mining. "This distinction recognizes the strength of our operations, the quality of our asset portfolio, and the dedication of our hardworking team."

Santacruz described the ranking as validation of its strategic direction, noting that the re-rating of silver equities on the TSX Venture Exchange has drawn renewed capital into the sector. The company continues building toward growth across its Latin American portfolio.

Vizsla Silver (TSX: VZLA) (NYSE: VZLA) delivered its 2025 year-end summary and 2026 outlook, anchored by a feasibility study at Panuco projecting over 20 million ounces of annual silver equivalent production during the first five years. The economics show an after-tax NPV of US$1.8 billion, a 111% IRR, and a payback period of just seven months. With over US$450 million in cash, construction is fully financed.

"2025 was an extraordinary year for Vizsla, the Panuco project and the underlying commodities," said Michael Konnert, President and CEO of Vizsla Silver. "I am extremely proud of our team's performance in 2025 and grateful for the continued support of our community members, shareholders and other stakeholders as we advance toward first silver production in the second half of 2027."

A 60,000-meter district-wide drill campaign is planned for 2026, with MIA permit receipt expected mid-year to clear the path for construction. Exploration at the Animas target returned 897 g/t AgEq over 5.8 meters, revealing new discovery potential along the central portion of the Panuco district.

Aya Gold & Silver (TSX: AYA) (OTCQX: AYASF) discovered approximately 500 metres east of the Boumadine Main Trend in Morocco. Drill hole BOU-DD25-728 returned 255 g/t AgEq over 11.9 meters, confirming high-grade continuity along the 5.4-kilometer trend and extending the exploration footprint well beyond known zones.

"These results, including a new southern parallel structure and mineralization more than 500 metres from any known zone, reinforce that the resource potential continues to grow," said Benoit La Salle, President & CEO of Aya Gold & Silver. "With ten rigs active, we're fast-tracking development and the 2026–2027 infill program, with two more rigs expected in March."

Year-to-date drilling at Boumadine has reached 28,904 meters across a newly expanded mining license covering 14.2 square kilometers. Further intercepts include BOU-DD25-734 at 446 g/t AgEq over 6.0 meters and BOU-MP25-092 at 296 g/t AgEq over 9.5 meters.

Hecla Mining (NYSE: HL) reported year-end silver reserves of 231 million ounces after producing 17 million ounces in 2025, maintaining the longest average reserve mine life among its silver peers. Greens Creek produced 8.7 million ounces of silver while growing its reserve base by 2.4 million ounces, and Lucky Friday delivered a record 5.3 million ounces and replaced 5.0 million in reserves.

"Our 231 million ounces of reserves at year-end 2025 reflects refined technical standards we've implemented across our reserve modeling as we've learned from mining these deposits, strengthening the quality and credibility of our estimates," said Rob Krcmarov, President and CEO of Hecla Mining.

The company plans to nearly double its exploration investment in 2026 to $55 million, focused on Nevada, Greens Creek, Keno Hill, and Lucky Friday, with the goal of exceeding annual reserve depletion. Drilling at Keno Hill returned 36.4 oz/ton silver over 21.4 feet, extending mineralization 140 feet beyond the previous resource boundary.

SOURCE: https://equity-insider.com/2026/01/12/the-only-silver-that-matters-now-is-silver-you-can-touch/

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SOURCES:

1. https://goldinvest.de/en/silver-outlook-2026-silver-institute-expects-renewed-strong-investment-interest-amid-persistent-market-deficit

2. https://investingnews.com/daily/resource-investing/precious-metals-investing/silver-investing/silver-in-the-future/

3. https://taiyangnews.info/business/silver-substitution-efforts-to-lower-demand-in-solar-sector-in-2026

4. https://www.ipmi.org/news/silver-faces-fifth-annual-supply-deficit-industrial-demand-slumps-investment-surges-silver

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