Daniel Rodriguez of Mercado Minerals Ltd. talks to Jeff Clark | Metals Investor Forum Sept. 2026

Metals Investor Forum Sep 25, 2026 9:53

Summary

Maiden drilling at the never-drilled Zamora silver gold project in Mexico is expected within two months.

Coppolito Phase 1 wrapped with 3,000m and 25 holes, expanding the drill ready strike at the new La Renata vein.

The CEO is buying shares on the open market, signaling insider confidence at current valuations.

A technical team with Vizsla Panuco and Napoleon discovery credits underpins the Sierra Madre exploration thesis.

Management is fully funded for upcoming drilling, with first results expected early in the new year.

Rodriguez points to Torex's roughly year-and-a-half-ago $450 million acquisition of Los Reyes, which sits near Zamora, as evidence of district value and as a comparable with high-grade intercepts similar to Mercado's project

Rodriguez says several members of Mercado's Mexico geological team previously discovered the Napoleon vein at Vizsla's Panuco district, which is the pedigree that drew him to the projects
Vizsla Silver is a strategic shareholder in Mercado Minerals, providing both capital and on-the-ground technical support, according to Rodriguez

Top takeaway Jeff Clark of the Pader Prospector newsletter frames Mercado Minerals as "a very compelling story" and says "the truth machine is turning," expecting drill results over the next year to prove up the projects
Clark discloses that he and the Pader Prospector team covering the company own shares in Mercado Minerals

Top takeaway As CEO and founder of Mercado Minerals, Rodriguez argues the company is built by surrounding itself with smarter people, particularly geologists whose track record includes the Vizsla Silver Panuco/Napoleon discovery in the Sierra Madre
His investment thesis is that both projects are early-stage with more ounces to find: Copolito still has "more meat on the bone" after Phase 1, and Zamora offers a rare combination of high-grade multi-kilo silver and 10-20 g gold samples over 750m of strike that has never been drilled
He frames the next 6-12 months as a catalyst window: AHEEDO agreements expected within a week, drill permits within two months, and first holes at Zamora potentially yielding results early in the new year, with Copolito follow-up and La Renata drilling slated for 2027
On capital, Rodriguez says the company is fully funded to start the next drill program and highlights that insiders own about 5%, with him personally adding to his position on the open market about two weeks before the interview because he viewed the stock as cheap
He positions Mercado as trying to replicate Vizsla's success in the same backyard, leveraging Vizsla's strategic-shareholder support to accelerate project advancement