Exploration Excellence

Our exploration team has a proven track record of delivering net asset value creation through the drill bit. Major league results at multiple Capstone assets, both previously and currently owned, has proven the team’s exploration excellence. View our latest Exploration Overview presentation. 


Since owning Cozamin mine in 2006, the team has three times significantly extended the mine’s life, each time the mine was considered a sunset operation. Each subsequent discovery has resulted in higher grades. Exploration success in 2019/2020 extended mine life to ~10 years (from ~4 years) at 50% expanded copper and silver output.

A $5M budget is focused on two areas of active expansion exploration in 2021. Target areas include both to the east and to the west of the current Mala Noche Footwall Zone Resource Estimate limits. The team believes there is a plethora of other brownfield targets and structures within historical workings yet to be tested to add potential expansions beyond MNFWZ.

Mexico Greenfield Exploration

The Donovan 2 copper-gold prospect in Zacatecas is located ~55km southeast of Cozamin, accessed via Federal Highways 45 and 49. Since executing an earn-in deal with Alien Metals Ltd. in 2020, Capstone has completed an expanded IP geophysical survey to further define drill targets. An initial drill program of ~2,500m is planned for 2021 to explore this undrilled bedrock volcanogenic massive sulphide (VMS)-style discovery. No drilling has been completed on the property to date.

In 2018, Capstone entered an option agreement with Kootenay Silver for their La Mina Project (Amapa Porphyry Prospect) in Sonora. The discovery is in the same age porphyry belt as Morenci and La Caridad mines and covers what appears to be a zoned copper porphyry mineral system exposed over a 2 by 2 km area. Amapa contains a large leached argillic-phyllic pyritic zone exposed at surface where surface grab and chip samples taken averaged about 300 ppm copper. 2020 drill results are pending, and drilling will recommence in January 2021.

The Granadilla Breccia prospect located in Sonora is 100% Capstone owned, and located 15 km northwest of the Amapa Porphyry Prospect. Lead-gold-silver mineralization has been sampled in multiple outcrops of quartz-tourmaline breccia. An initial shallow drilling program started late in 2020 and is continuing in January 2021. To date no core assays have been received.

Brazil Greenfield Exploration

Capstone has optioned the IOCG-target Planalto Project in Brazil from Lara Exploration, part of the management team that discovered the Timok project in Serbia. To date, a total of 36 holes have been drilled, with the best hole showing 142m at 0.83% copper. The objective for 2021 is to expand mineralization with a drill program anticipated to start in Q2 2021 with a budget of $1.8 million.

Santo Domingo Brownfield

Capstone is now assessing brownfield exploration opportunities at Santo Domingo now that the project’s engineering and feasibility are solidly outlined. No exploration drilling has been completed at the property since acquisition in 2011. Shallow mineralization at the eastern portion of the deposit is open for expansion. In addition, a strong untested conductive anomaly (VTEM) with a similar response to the central portion of Santo Domingo ore body suggests a continuation of mineralization at depth.



Between June 2005-2019 when Capstone owned Minto mine, the team more than tripled resource and reserves, as well as had nine separate discoveries on a property that was deemed well explored.