Silver Storm Mining (TSX-V:SVRS) has updated the Mineral Resource Estimate in compliance with National Instrument 43-101 Standards of for the company’s 100% owned La Parrilla Silver Mine Complex, located in Durango Mexico.
The updated MRE was completed by SRK Consulting (Canada).
The updated MRE includes a 107% increase in indicated resources from 5.2 million ounces silver equivalent in the 2023 statement to 10.8Moz; a 58% increase of inferred resources to 16.3Moz silver equivalent; and 90% of the indicated and 85% of the inferred resource tonnage being sulphide mineralisation.
Silver Storm CEO Greg McKenzie says with further drilling, the company expects to maintain a continued conversion rate.
“The company is now very well positioned, having a fully permitted silver mine complex, with a sizable Mineral Resource endowment that could potentially feed the La Parrilla processing plant for several years,” the CEO says.
“Our sizable mineral resource growth in both classification categories is a testament to the hard work and dedication of the team including Will Ansley, COO and Bruce Robbins, P.Geo, our exploration personnel, operating employees and drilling contractor.
“Silver Storm completed 18,626m of underground drilling, demonstrating that the previously mined zones continue down plunge and in certain cases even show improved grade and thickness at depth. This significant growth in mineral resources enhances the potential of our project, supports our goal to restart the mine and join the exclusive rank of silver producers.”
Silver Storm Mining (formerly Golden Tag Resources) is focused on advanced stage silver projects located in Durango, Mexico.
The company recently completed the acquisition of the La Parrilla Silver Mine Complex, a prolific complex which is comprised of five underground mines and a past producing open pit that collectively produced 34.3 million silver-equivalent ounces between 2005 and 2019. Infrastructure also includes a 2,000 tpd mill.
Write to Adam Orlando at Mining.com.au
Images: Silver Storm
