Deepening extension drilling within the Pilar mine has delineated a new open zone of “Superpod” mineralization.

The bill in its present form could hike taxes on miners by up to 75% depending on the price of copper.

Highlights include 952 m grading 0.53% copper, 0.02% molybdenum, and 0.04 g/t gold.

"The mining sector isn't close-minded to new revisions of the taxation system, if done with prudence," said Pedro Francke, Castillo's economic adviser.

San Rafael primarily produces silver, zinc and lead in the town of Cosala in Sinaloa state.

The document approved a plant with capacity to produce 20,000 tonnes of lithium chloride annually.

It was reported last week that the company was in talks to sell a stake in the project.