Silver Storm Mining Boosts Mineral Resources by Over 100%
Significant Resource Increase at La Parrilla
Silver Storm Mining Ltd. (“Silver Storm” or the "Company") (TSX.V: SVRS | OTC: SVRSF), is delighted to share an exceptional update regarding its mineral resources at the La Parrilla Silver Mine Complex. This impressive boost of 107% in indicated mineral resources marks a substantial step forward for the Company’s operations.
Details of the Updated Mineral Resource Estimate
The recent mineral resource estimation was executed following the National Instrument 43-101 Standards of Disclosure for Mineral Projects. David F. Machuca-Mory, PhD, PEng, from SRK Consulting (Canada) Inc., played a pivotal role in this comprehensive analysis.
Resource Highlights
- Indicated Mineral Resources soared from 5.2 million ounces (Moz) Ag.Eq to an outstanding 10.8 Moz Ag.Eq, representing an increase of 107%.
- Inferred Mineral Resources increased by 58%, rising from 10.3 Moz Ag.Eq to 16.3 Moz Ag.Eq.
- 90% of the indicated resources and 85% of the inferred resources consist of sulphide mineralization, while 10% and 15% comprise oxide mineralization, respectively.
- Notably, 66% of the indicated and 69% of the inferred resources derive their gross metal value primarily from silver.
- The Company also identified 23 new mineralized structures, enhancing the overall exploration potential of La Parrilla.
- The overall cost of exploration is estimated at US$0.22 per ounce of Ag.Eq discovered.
CEO's Insight
Greg McKenzie, President and CEO of Silver Storm, expressed his enthusiasm, stating that the significant increase in both the indicated and inferred resources reflects the hard work of the entire team. He emphasized that the abundance of mineral resources positions the Company strongly, with a fully permitted silver mine complex ready to supply the La Parrilla processing plant for several years.
Looking Towards the Future
The mining operations will continue to capitalize on the promising results from the extensive underground drilling conducted, covering 18,626 meters. The Company’s strategy focuses on expanding resources while preparing to restart mining operations at La Parrilla.
Mineral Resources Summary
The Company provided a brief summary of the indicated and inferred mineral resources:
Indicated Mineral Resources
Estimated at 1,197,000 tonnes (t), with grades of 280 g/t Ag.Eq (187 g/t Ag, 0.10 g/t Au, 1.56% Pb, 1.69% Zn). This translates to roughly 10.8 Moz Ag.Eq.
Inferred Mineral Resources
Estimated at 1,988,000 t with grades of 255 g/t Ag.Eq (175 g/t Ag, 0.12 g/t Au, 1.27% Pb, 1.42% Zn), yielding approximately 16.3 Moz Ag.Eq.
Quality Assurance in Resource Estimation
Silver Storm implements a rigorous quality assurance/quality control program to safeguard the integrity of its sampling process. This thorough approach enhances confidence in the mineral resource data, aided by independent laboratory analysis.
About Silver Storm Mining Ltd.
Silver Storm Mining Ltd. focuses on advanced-stage silver projects located in Durango, Mexico. With the acquisition of the La Parrilla Silver Mine Complex in late 2023, the Company aims to maximize its mining capabilities and capitalize on its existing resources, pushing its endeavors forward.
Frequently Asked Questions
1. What is the significance of the recent mineral resource update?
The update showcases a remarkable 107% increase in indicated mineral resources at La Parrilla, enhancing its potential for profitable production.
2. Who completed the mineral resource estimation?
The estimation was carried out by David F. Machuca-Mory, PhD, PEng, of SRK Consulting Canada Inc.
3. What are the key resources found at La Parrilla?
The key resources include high-grade silver and significant volumes of both sulphide and oxide mineralization.
4. How is Silver Storm ensuring quality in its exploration process?
The Company employs a comprehensive quality assurance/quality control program, with independent lab oversight for sampling and analysis.
5. What are the future plans for the La Parrilla operations?
Silver Storm is focused on expanding exploration efforts and preparing to restart mining operations, driving continued resource growth at La Parrilla.
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