Silver X Mining Corp. has significantly expanded its drilling program at the Red Silver project in Peru, following the discovery of high-grade mineralization.
The company increased the scope of the initial plan to 6,650 meters, signaling confidence in the deposit's potential and accelerating exploration efforts in the region.
The Rio Times reported the expansion on Thursday.
The move comes as Peru’s mining sector sees renewed momentum from multiple players.
Silver Mountain Mines recently commenced the commissioning phase of its Reliquias silver mine in the Huancavelica region, marking a return to production for the past-producing asset.
This broader activity suggests improving operational conditions and investor interest in Peruvian precious metals projects.