CMX Gold & Silver Corp. (CSE: CXC) (OTC: CXXMF) is implementing a plan to assess the underground resource and exploit an above-ground stockpile at its Clayton Silver Project in Idaho, the company announced in a press release. The historic mine, which produced silver, zinc, copper, lead, and gold between 1935 and 1986, was never fully mined due to the small scale of operations. Additionally, material at grades considered too low was left unprocessed, creating a stockpile that the company believes holds significant exploitation potential.
According to the announcement, CMX plans to install an ore-sorting system on site to process the stockpile, which potentially contains 1,000,000 tons or more of mineralized material. The company is also implementing a work program that includes site preparation, geophysical survey, drilling, and staking to help assess the full potential of the underground resource.
The move comes as silver demand continues to outpace supply. The Silver Institute’s World Silver Survey 2026, referenced in the press release, reported that silver demand reached 1.13 billion ounces in 2025, against a documented supply of 1.09 billion ounces. Mine production accounted for 846.6 million ounces, and the demand-supply deficit is projected to grow further, representing an opportunity that CMX intends to exploit.
CMX, through its wholly owned U.S. subsidiary, holds a 100% interest in the Clayton Silver Mine, located in the Bayhorse Mining District of Idaho. Discovered in the late 1800s, the mine was operationalized in 1935 and continued production until 1986, when low prices forced closure. During those five decades, the operator mined an estimated 2,145,652 tons of ore.
Silver is widely used in industrial and non-industrial applications, from the manufacture of electronics, water purifiers, and photovoltaics to jewelry and silverware. The panoply of use cases has created sustained demand, and the projected supply deficit underscores the potential value of the Clayton project. The company’s plan to process the stockpile and assess the underground resource could position it to benefit from the growing gap between supply and demand.
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