Silver Just Hit a 13-Year High -- and Forecasts Say It Could Triple

Cision Canada

02-07-2025

Issued on behalf of Magma Silver Corp.
VANCOUVER, BC, July 2, 2025 /CNW/ -- USA News Group News Commentary – Silver has officially broken through 13-year highs, with prices surging past $36 per ounce — a move some analysts are calling a generational technical breakout. Since January, the metal has climbed from $28.92, triggering a wave of activity as Americans rush to cash in on old coins and jewelry. But the real signal may be ahead, as long-term demand drivers in industrial and green tech sectors continue to build a case for silver miners. For investors looking to position early in this unfolding silver story, several miners have issued fresh updates, including from Magma Silver Corp. (TSXV: MGMA) (OTCQB: MAGMF), Silvercorp Metals Inc. (NYSE-American: SVM) (TSX: SVM), Vizsla Silver Corp. (NYSE-American: VZLA) (TSX: VZLA), Discovery Silver Corp. (TSX: DSV) (OTCQX: DSVSF), and MAG Silver Corp. (NYSE-American: MAG) (TSX: MAG).
Some analysts now believe silver's rally is just getting started, with bold targets ranging from US$100 to as high as US$130 per ounce. UBS sees $40 silver on the horizon, while AI-driven models are projecting a short-term range between $36 and $42. With momentum building, investors are shifting focus to silver miners — particularly those reporting high-grade results and advancing aggressively in the field.
Magma Silver Corp. (TSXV: MGMA) (OTCQB: MAGMF), recently hihglighted another important milestone at its Niñobamba silver-gold project in Peru. The company confirmed that all required property payments are up to date, with every claim in good standing through at least June 2026. With full control over the Niñobamba, Randypata, and Jormina zones, Magma Silver is advancing toward a planned diamond drilling campaign in Q4 2025. Surface access agreements are already in place for Randypata and Jormina, with negotiations ongoing for Niñobamba. Drilling permits are expected later this year.
Ahead of drilling, Magma Silver is mobilizing Alpha IP geophysics, mapping, and surface sampling across the property. Early efforts are zeroing in on high-grade gold targets at Niñobamba North, where recent results have sparked renewed interest.
What sets this project apart is its foundation. Magma isn't starting from zero — it's building on more than US$10 million in historical exploration, including drilling, trenching, and metallurgical work carried out by names like Newmont, AngloGold, Rio Silver, and Bear Creek.
Backed by a strong exploration legacy, the project saw over 65 holes drilled by Newmont at the Jormina zone alone — enough to support an internal pre-feasibility study that pointed to potential for a mid-sized mine. Highlight results from that era include 72.3 meters of 1.19 g/t gold and 130 meters of 87 g/t silver. Yet despite these promising intercepts, the system hasn't seen modern targeting or 3D modeling until now.
Located in Peru's prolific south-central silver belt, Magma Silver's Niñobamba project sits within a 4,100-hectare land package spanning a 6.5-kilometer mineralized corridor. The property includes three contiguous zones — Niñobamba, Randypata, and Jormina — all believed to be part of the same high-sulfidation system. For the first time, these zones are being explored as a unified, 100%-owned project under one operator.
The company also stands out for its tight share structure and proven leadership. With fewer than 34 million shares outstanding, Magma Silver is strongly held, with insiders and management aligned through meaningful ownership. Its board includes capital markets and technical experts with a track record of advancing precious metals projects in Latin America.
With permits underway, historic data in play, and groundwork accelerating across the field, Magma is entering a pivotal phase — with momentum, experience, and scale already on its side.
In other industry developments and happenings in the market include:
Silvercorp Metals Inc. (NYSE-American: SVM) (TSX: SVM) recently released an updated mineral resource estimate for its Condor Project in Ecuador, focusing on higher-grade underground deposits at Camp and Los Cuyes. The updated estimate includes 3.17 million tonnes of indicated resources containing 0.34 million ounces of gold, 2.0 million ounces of silver, and 49.4 million pounds of zinc, with additional 12.1 million tonnes of inferred resources hosting 1.38 million ounces of gold.
Open-pit constrained resources were also reported at Soledad and Enma, contributing further indicated and inferred gold, silver, and zinc values. Silvercorp plans to launch a 3,500-metre drill program in May and publish an updated Preliminary Economic Assessment (PEA) by year-end.
Vizsla Silver Corp. (NYSE-American: VZLA) (TSX: VZLA) continues to advance development of its Copala test mine at the 100%-owned Panuco project in Mexico, with the decline now extended approximately 125 metres under favorable ground conditions.
"We're now testing underground at Panuco and executing the test mine development according to plan, at the historic Copala district," said Simon Cmrlec, COO of Vizsla Silver. "We are on track to complete the fully funded test mine program by year-end."
The test mine is on track to produce a 10,000-tonne bulk sample by year-end, which will support backfill testing, mine design optimization, and grade reconciliation. Underground development is also enabling low-cost drilling to upgrade resources and test near-mine exploration targets. With infrastructure in place and strong local engagement, the company is steadily progressing toward a future construction decision.
Discovery Silver Corp. (TSX: DSV) (OTCQX: DSVSF) has recently seen a high-profile shareholder action, as prominent investor Eric Sprott reduced his stake by approximately 2.4% through a public market sale. The transaction involved 19.2 million shares sold for total proceeds of over C$62 million, lowering his ownership to 12.8% on a non-diluted basis.
Despite the sale, Sprott reaffirmed that his position is held for investment purposes and that he may buy or sell more shares in the future depending on market conditions. The move comes as the company continues advancing its flagship silver asset in Mexico toward development.
MAG Silver Corp. (NYSE-American: MAG) (TSX: MAG) has published its fourth annual Sustainability Report, highlighting progress across safety, environmental stewardship, and stakeholder engagement. The company reported zero significant environmental incidents at its flagship Juanicipio silver mine in 2024, while maintaining a multi-year decline in injury rates and dedicating over 100,000 hours to safety training. T
he report underscores Juanicipio's central role as a cornerstone silver-producing asset, operated in partnership with Fresnillo. As MAG advances its broader project pipeline, its commitment to ESG leadership is positioned as a driver of long-term value creation across its silver-focused portfolio.
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