February 18th, 2026 | 06:55 CET
The hunt for forgotten ounces: Why Silver Viper Minerals has the potential to repeat the success story of Blackrock Silver and Dolly Varden
The global silver market is in an exceptional situation. Industry analyses confirm that the market is heading for its sixth consecutive year of structural supply deficit in 2026. Driven by the insatiable demand from the photovoltaic industry and the booming AI infrastructure, which requires silver for high-performance chips, investors are looking for quality in the ground. In this environment, two models for success have emerged: premium development in secure top jurisdictions, as exemplified by Dolly Varden Silver, and the revitalization of historic silver territories through modern technology, as demonstrated by Blackrock Silver. But while these stocks have already performed well, one company that combines these two approaches in the world's most productive silver country is still largely flying under the radar: Silver Viper Minerals. In Mexico, the heartland of global silver production, the company combines the geological knowledge of old mines with state-of-the-art drilling technology – offering investors the chance to be part of a classic discovery story with enormous leverage.
time to read: 3 minutes
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Author:
Nico Popp
ISIN:
SILVER VIPER MINER. CORP. | CA8283344098 , Blackrock Silver | CA09261Q1072 , DOLLY VARDEN SILVER | CA2568272058
Table of contents:
"[...] Internally we expect the resource to significantly grow the deeper we mine. [...]" Dennis Karp, Executive Chairman, Manuka Resources
Author
Nico Popp
At home in Southern Germany, the passionate stock exchange expert has been accompanying the capital markets for about twenty years. With a soft spot for smaller companies, he is constantly on the lookout for exciting investment stories.
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Dolly Varden and Blackrock: The blueprints for success
To recognize Silver Viper's potential, one needs to take a look at its prominent peers: Dolly Varden Silver has shown in Canada's "Golden Triangle" how the market reacts when high-grade ounces are confirmed in a secure jurisdiction. The Kitsault Valley project, with its approximately 140 million ounces of silver equivalent, is now trading at a significant premium because it offers both size and security.
Blackrock Silver is pursuing a different but equally successful model in Nevada. In the historic Tonopah district, where 100 years ago the old miners only mined the obvious, Blackrock is using modern geophysical methods. The result: the discovery of new, massive vein systems that remained hidden from their predecessors. Blackrock proves that in the old mining areas, the greatest treasures often still lie in the ground, if one drills deep enough and uses the right technology.
Silver Viper Minerals: State-of-the-art exploration on historic ground
Silver Viper Minerals is now applying Blackrock's approach to Mexico – the country that has been supplying the world with silver for centuries. The flagship La Virginia project in the state of Sonora is located in an area that has historically been exploited by miners, often working on their own account. In the 2010s, a team led by Pan American conducted a systematic exploration, but the full potential can only be revealed by the current combination of geophysics and deep drilling technology. As can be seen from the company presentations, Silver Viper is targeting epithermal gold-silver systems that are typical of this region and often deliver extremely high grades. Work to date has led to the discovery of the "El Rubi" zone, a mineralized system that exhibits all the characteristics of a large deposit.
The management factor: The Belcarra Group
A key argument in favor of Silver Viper is the team behind it. The company is part of the renowned Belcarra Group, a management incubator that enjoys an excellent reputation in industry. The same team was responsible for the success of Orko Silver, whose La Preciosa deposit was sold to Coeur Mining for several hundred million CAD.
For investors, this is a strong vote of confidence. The geologists and managers at Silver Viper know exactly how to find, develop, and profitably sell a mine in Mexico. They are familiar with the geology, the regulatory framework, and the local conditions. While inexperienced explorers often fail in Mexico, the Belcarra Group has the network and expertise to make La Virginia a success.
The discovery story: El Rubi and Macho Libre
The geological potential of La Virginia seems far from exhausted. The El Rubi zone consists of several mineralized structures that have been traced over a strike length of approximately 500 meters. Current exploration data indicate that the system continues at depth and along strike.
The new Macho Libre target area is particularly exciting. Here, Silver Viper is applying the very same modern methodology that made Blackrock successful in Nevada: systematic testing of anomalies overlooked by historical miners. Initial results indicate high-grade gold and silver values that have the potential to significantly expand the resource base. Since Mexico is geologically known for its deep-reaching vein systems, this may only be the tip of the iceberg.
Silver Viper: Second chance for silver bulls
Silver Viper Minerals offers investors a fascinating mix. The company operates in Mexico, the El Dorado of the silver industry, and uses the proven strategy of re-exploring historic districts. While Dolly Varden prices in the security of Canada and Blackrock enjoys the Nevada bonus, Silver Viper is currently still trading at a discount that does not reflect its geological potential. Given the global silver deficit and the expertise of the Belcarra Group, the stock is a bet on the next big discovery. If Silver Viper achieves similar success at La Virginia as Blackrock did in Tonopah – and the geology suggests it will – then the company is likely to face a revaluation.
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