05:23 PM EDT, 04/25/2024 (MT Newswires) -- Gatos Silver, Inc. ( GATO ) was at last look down near 1% in US after trade Thursday as it provided an update on the drilling and exploration programs in the Los Gatos district in Mexico. It said the update includes new intercepts of mineralization in the South-East Deeps zone of its 70%-owned Cerro Los Gatos mine.

The company also announced the appointment of Chad Yuhasz as Vice President, Exploration and Technical Services.

Among drilling highlights, Gatos said resource definition drilling in the SE Deeps zone of CLG intercepted additional high-grade mineralization below the existing mineral reserve, and Greenfields exploration work in the LGD continues to advance in preparation for increased drilling starting in Q2 2024.

"These latest results will add to the potential of the South-East Deeps zone for the next update of our Reserve and Resource estimates, which we continue to expect to complete in the third quarter of 2024," said Dale Andres, CEO of Gatos Silver ( GATO ), in a statement. "As our work on the Greenfields drilling increases over the coming months it is great to have Chad Yuhasz joining our team to guide our exploration activities."