#Canada #Toronto #Denarius Metals #Zancudo Project #Cauca Belt

Denarius Metals Announces 2025 Production Results for Zancudo Project

On January 20, 2026, Denarius Metals Corp. publicly updated on their early production phase at the Zancudo Project located in Colombia. This project is significant for the company, as it signifies the commencement of operations at a new gold mine, which is entirely owned by Denarius Metals. The Zancudo Project is situated approximately 30 kilometers southwest of Medellin, within the esteemed Cauca Belt.

Initial Production and Revenue

In 2025, the company achieved remarkable milestones, particularly in the production of crushed material. It began its operations with an initial shipment of 64 tonnes in June and progressively ramped up shipments to 814 tonnes in Q3, culminating in 1,215 tonnes in Q4. The head grades were particularly noteworthy, averaging 8 grams per tonne (g/t) for gold and 224.8 g/t for silver. This operation yielded an approximate revenue of US$1.7 million for the year. Serafino Iacono, Executive Chairman of Denarius Metals, declared this year as one that can transform the future of the company, especially with plans to transition to producing high-grade gold-silver concentrates by the latter part of 2026.

Ongoing Mining Operations

The production phase at Zancudo is currently characterized as “early production,” involving artisanal mining in readily accessible areas. This phase is expected to continue into the first half of 2026 as mining developments progress toward a more conventional, semi-mechanized operation. Concurrently, a new processing plant capable of handling 1,000 tonnes per day is under construction, with completion projected for the third quarter of 2026. Currently, mined materials are being crushed on-site before being transported to a port for sale to Trafigura Pte. Ltd., in accordance with a long-term offtake agreement established between the two parties.

Shipment and Payability Rates

By the end of December 2025, Denarius had delivered a total of 2,093 tonnes of crushed material to Trafigura. These consignments contained approximately 538 ounces of gold and 15,129 ounces of silver. The payability rates from Trafigura vary, with gold ranging between 30% and 70% and silver between 20% and 40%, contingent upon the grades of the delivered materials. In the context of these shipments, Denarius received payments for 340 ounces of gold and 5,770 ounces of silver. Notably, payability rates will see a significant increase to between 86% and 90% for gold and 35% to 45% for silver once the company commences shipping concentrates.

Update on Warrant Exercises

In addition to production updates, Denarius Metals also divulged recent developments concerning its capital structure. From late December 2025, the company announced the issuance of 1,640,255 common shares resulting from the exercise of warrants that are set to expire on March 2, 2026, and April 4, 2026. The exercise prices for these shares are CA$0.60 and CA$0.66, respectively. Alongside this, Denarius saw 300,000 stock options exercised at CA$0.52 per share, culminating in total gross proceeds of around CA$1.4 million. Currently, there are a total of 37,732,046 warrants outstanding that are set to expire soon, suggesting potential for further revenue generation.

Company Overview and Future Outlook

Denarius Metals is identified as a Canadian junior mining company focused on the acquisition, exploration, and development of precious metals projects, including the Zancudo project that encompasses the historic Independencia mine. The company is also active in Spain, managing three projects aimed at securing critical minerals. With the Zancudo Project already operational and plans for significant growth in 2026, the outlook for Denarius Metals appears promising. For more detailed information about the company and its ongoing projects, visit their official website or consult their profile on SEDAR+.

Overall, 2026 could very well be a pivotal year for Denarius Metals as they look to capitalize on initial successes and further develop their mining capabilities.