Disseminated on behalf of CMX Gold & Silver Corp. (CSE: CXC) (OTC: CXXMF)and may include paid advertising.
- CMX’s Clayton Silver Project in Idaho is a historic mine that produced silver, zinc, copper, lead, and gold between 1935 and 1986
- Due to the small scale of mining operations, the Clayton ore bodies were never fully mined, while mined material at grades considered too low was left unprocessed, creating a stockpile
- The stockpile and the unexplored mine represent significant exploitation potential for the company
- CMX plans to install an ore-sorting system on site to process the stockpile, which potentially holds 1,000,000 tons or more of mineralized material
- The company is also implementing a work program that includes site preparation, geophysical survey, drilling and staking, to help assess the full potential of the underground resource
Silver is widely used in industrial and non-industrial applications, from the manufacture of electronics, water purifiers, and photovoltaics to jewelry and silverware. The panoply of use cases created a demand of 1.13 billion ounces in 2025, according to the Silver Institute’s World Silver Survey 2026, against a documented supply of 1.09 billion ounces (https://ibn.fm/iO2ky). (Mine production accounted for 846.6 million ounces.) The demand-supply deficit is projected to grow even further, representing an opportunity that CMX Gold & Silver (CSE: CXC) (OTC: CXXMF) intends to exploit. CMX, through its wholly owned U.S. subsidiary, holds a 100% interest in the historic Clayton Silver Mine in the Bayhorse Mining District of Idaho.
Discovered in the late 1800s, Clayton was operationalized in 1935, with production continuing through 1986, when low prices forced closure. During those five decades, the operator mined an estimated 2,145,652 tons of ore, which, upon processing, produced 218,692 kg (7,031,110 oz) silver, 39,358,903 kg (86,771,527 lbs.) lead, 12,778,700 kg (28,172,211 lbs.) zinc, 754,858 kg (1,664,177 lbs.) copper, and 67 kg (2,154 oz) gold. At current spot metals prices, this historic output is valued at over US$600 million.
Small scale mining meant certain mineralized zones were left unexplored and operations only partially accessed ore from two major ore bodies, the North and South. For instance, hole 1501-A, which was drilled in the mid-1960s, penetrated the mineralized zone at a depth that was approximately 300 feet below the deepest underground development. At this depth, the hole “intercepted 22 feet (6.70 m) of 4.07 oz Ag/t, 5.75% lead, and 5.37% zinc.” The true width, however, remains unknown.
The Clayton Mine’s unexploited resources represent a boon for CMX. In the management’s discussion and analysis (“MD&A”), released April 17, 2026, the company noted that “mineralization is open to the north, the south, and to depth, all of which is untested. For example, there is potential for resources to exist at shallower depths below and adjacent to the South Ore Body.” (https://ibn.fm/dJk6l)
In addition to the unmined resources, mined material was left unprocessed when the grade was considered low, with the operator heaping it into a stockpile. But as CMX confirmed through a 2022 sampling program and analysis, the stockpile has exploitation potential. According to a 2023 press release announcing details of the analysis, assay results confirmed that the ore-sorting technology was viable for processing the stockpile, which is estimated to contain 1,000,000 tons or more of mineralized material. The initial test of the stockpile material recovered over 70% of the silver, lead, and zinc in ore-sorted product equal to 10% of the original mass (https://ibn.fm/CYPXb).
Based on these results, the company plans to assemble an ore sorting system at the Clayton mine capable of processing 3,000-4,000 tons of material per day, according to the MD&A. The ore-sorting of the historical stockpile forms part of the company’s plan to generate future cash flow. The company also intends to proceed with other work programs, including geophysics, drilling, and preliminary engineering on the refurbishment of the mill. It is currently finalizing an equity offering to fund the planned 2026 geophysical survey and drill program, which will begin assessing the underground resource potential.
For company information, visit the company’s website at www.CMXGoldandSilver.com.
NOTE TO INVESTORS: The latest news and updates relating to CXXMF are available in the company’s newsroom at https://ibn.fm/CXXMF
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