Discovery’s First Quarter Points to a Larger Year Taking Shape in Timmins

Discovery Silver has opened 2026 with a solid operating quarter in Timmins, producing 60,269 ounces of gold from the Porcupine operations and maintaining full-year guidance of 260,000 to 300,000 ounces.

The company processed 700,000 tonnes at an average grade of 2.96 grams per tonne and recoveries of 90.6 per cent, giving the quarter enough weight to support a more confident production profile for the balance of the year.

The significance of the update lies in the operating mix behind the headline number. Hoyle Pond lifted production sharply from the previous quarter on stronger grade, Dome Mill improved average grade and recoveries while continuing to push throughput and Hollinger returned to mining during the period with rates above 2,000 tonnes per day by quarter end.

Discovery also finished the quarter with stockpiles of roughly 1.3 million tonnes, giving it more flexibility in managing throughput and grade through the year.

There is also a wider district dimension to the story. During the quarter, Discovery announced the acquisition of Glencore’s Kidd operations in Timmins, adding processing, tailings and other infrastructure while broadening the company’s exposure beyond gold alone. That transaction is significant because Porcupine is no longer being framed simply as a set of producing mines. It is starting to look more like a larger Timmins operating platform with gold production, district infrastructure and additional exploration and processing options feeding into the same regional system.

For the market, the immediate focus will remain on whether quarterly production builds as expected through the rest of 2026. Hollinger’s ramp-up, higher planned throughput and the effect of investments into current operations are all expected to support that trajectory. In a strong gold price environment, Discovery is now moving from transition to execution in one of Canada’s best-known mining camps.