Sierra Madre Starts Development at Third Mine in La Guitarra

Sierra Madre Gold and Silver started underground development at the Nazareno silver and gold mine, the third mining center at its La Guitarra silver-gold complex in the State of Mexico. The opening of this mine would mark the third mining center opened at la Guitarra complex. 

According to Sierra Madre, over 700t of mineralized material from Nazareno have been delivered to the Guitarra processing plant. The company reported that in a reconciliation of the material produced from development blasting against the 2023 resource model, the production silver grades were 40% higher and gold grades were 30% higher. "We are excited to be opening a third mining center at La Guitarra, less than a year after achieving commercial production at our first mine within the complex. We expect Nazareno to be a significant contributor to silver and gold production as we advance our fully funded plant expansion plans, which would more than double capacity from current 500t/d levels by 3Q27,” said Alex Langer, CEO, Sierra Madre Gold and Silver.

Initial development blasting and mapping at Nazareno have revealed that several silver and gold-bearing veins merge to form a zone up to 8m wide. To aid in further mine planning and reduce future development costs, the company announced the purchase of a new, portable Ingertrol Sandy 50 drill rig. The rig will be used for drilling at the Nazareno veins and in the central Guitarra mine area to test close-spaced parallel vein sets from a single underground drive. 

Other Sierra Madre Assets Set  Online 

On Apr. 20, 2025, Sierra Madre also announced the commencement of underground mining at the Coloso mine, located within La Guitarra complex. The company noted that the mine's existing 12km of underground workings allowed for a restart with minimal pre-production expenditures and seven months ahead of schedule.

According to the company, the estimated resource grades at Coloso are, on average, 1.7 times higher in silver and 1.2 times higher in gold compared to the Guitarra veins. Operations have begun at a rate of 50t/d and are planned to ramp up to 150t/d per day by the end of 2025. This new production will supplement the mill feed currently sourced from the Guitarra mine, as the processing plant continues to operate at its 500t/d capacity.