Peñasquito is the second largest mine in Mexico and the fifth largest silver mine in the world with estimated reserves at 17,800,000 oz of gold and 1,070,000,000 oz of silver.

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Prior to starting Blackberry Ventures I, LLC, the BlackBerry team started Western Silver, a mineral exploration company focused on discovering and developing silver properties. It was based in Vancouver from 1997 To 2006.

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Western Silver identified the Peñasquito property as likely having a large resource of silver.  Their company bought Peñasquito in 1997 and successfully explored the 39,000-hectare property.

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By 2003, they felt Peñasquito would become "one of the world’s largest silver resources." 

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By 2005, the property was emerging as a silver-gold-lead-zinc district with significant exploration upside.  It was independently confirmed to be one of the largest undeveloped silver deposits in the world.

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From 2001 to 2006, Western Silver’s stock price went from below $1 (U.S.) to over $42.  In 2006, Western Silver sold Penasquito to Glamis Gold Ltd. for $1,200,000,000. 

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By 2010, Peñasquito was an open pit mine.  It’s now Mexico's second largest open pit mine.