Silver Crashed 50%. The Rebound Starts Now | Daniel Rodriguez - Mercado Minerals
The Deep Dive Sep 9, 2026 10:30
Summary
Silver has bottomed after roughly halving from January highs near $120 to the $60-70 range, the guest argues, with higher prices ahead.
Mercado's completed 25-hole Copalito drill program grew principal veins from six to eight and strike length from 8 km to 11 km.
Highlights include 6.5 m at 372 g/t silver-equivalent and 7.6 m at 434 g/t silver-equivalent at Cinco Sinoroz, plus best-ever El Agua intercepts.
The Zamora project has never been drilled; chip sampling returned 2.4 m of 536 g/t silver-equivalent and 1 m of 828 g/t silver.
Mercado credits its in-country staff and community ties for safe operating access in Sinaloa, where security concerns have slowed peers.
Key points on Vizsla Silver
- Steve Hyland notes Vizsla Silver's stock has held up relatively well despite ongoing security concerns in Mexico.
Steve Hyland's takeaways
- Top takeaway Steve argues Mexican silver exploration stories can become large mining stocks despite Sinaloa security concerns, pointing to Vizsla Silver's stock resilience as evidence the market is looking through the risk.
- Endorses Mercado's hunt in Sinaloa as following a proven blueprint and commits to ongoing coverage on the channel.
Daniel Rodriguez's takeaways
- Top takeaway Daniel argues silver has bottomed after pulling back from roughly $120 highs earlier in 2026 to a $60-70 range (as of Sept 2026) and expects higher prices ahead, framing this as the start of a rebound for silver-focused explorers.
- Describes himself as 'agnostic' to discovery type — Mercado is silver-focused but will follow gold where the geology justifies it.
- Frames Sinaloa security risk as manageable through an in-country team and community relationships, and says the team feels safe on the ground at Copolito and Zamora.
- Sees Copolito as the current flagship but considers the undrilled Zamora project — chip samples of 2.4 m at 536 g/t silver-equivalent, including 1 m at 828 g/t silver — a potential flagship once the remaining roughly 3,000 hectares are brought back into good standing.