04:54 PM EDT, 07/23/2024 (MT Newswires) -- Gatos Silver ( GATO ) on Tuesday said exploration drilling at in the South-East Deeps area of its Cerro Los Gatos mine in Mexico showed multi-metal mineralization.

Best results from the program included 3.5 meters testing at 214 grams per tonne of silver, 19% zinc, 12.23% lead 0.18 gpt of gold and 0.25% copper.

"We are pleased with the latest results which show further potential in the South-East Deeps zone beyond what we will be including in our next reserve and resource estimates update, which we continue to expect to complete in the third quarter of 2024," chief executive Dale Andres said in a statement. "

The company's shares closed up $0.27 to $17.95 on the Toronto Stock Exchange.