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Silverstorm Metals Corp.

TSXV:SVRSLive AI agent

Silver Storm Mining Ltd.

Investor website: https://www.silverstorm.ca/

About

Silver Storm Mining Ltd. is a Toronto-based mineral resource development company, incorporated on September 22, 1980. The company holds advanced-stage silver projects located in Durango, Mexico, including the La Parrilla Silver Mine Complex and the San Diego Project. La Parrilla is a prolific operation with a 2,000 tpd mill and three underground mines, having produced 34.3 million silver-equivalent ounces between 2005 and 2019. The San Diego Project is one of the largest undeveloped silver projects in Mexico, with over 33,000 meters of drilling completed.

Verified company data

Cash position
C$13,000,000
Shares outstanding
766.7 M
Fully diluted shares
1,045.8 M
Mineral resource
Highlights of the Updated Mineral Resource Estimate include: - **107% increase in Indicated Mineral Resources, from 5.2 Moz Ag.Eq in the 2023 Mineral Resource Statement to 10.8 Moz Ag.Eq** - **58% increase of Inferred Mineral Resources, from 10.3 Moz Ag.Eq in the 2023 Mineral Resource Statement to 16.3 Moz Ag.Eq** - **Approximately 90% of the Indicated and 85% of the Inferred Mineral Resource tonnage is sulphide mineralization; 10% of the Indicated and 15% of the Inferred Mineral Resource tonnage is oxide mineralization** - **Silver dominant: 66% of the Indicated and 69% of the Inferred Updated Mineral Resource gross metal value is derived from silver** - **23 additional mineralized structures have been modelled, including several that were previously mined by the former operator, with significant upside potential** - **Total all-in exploration cost of US$0.22/oz Ag.Eq discovered**
Projects
["Golden Tag Begins Diamond Drill Program at San Diego Silver Project\n\nToronto, Ontario, October 15, 2020: Golden Tag Resources Ltd. (“Golden Tag” or the \"Company\") (TSX.V: GOG) has initiated plans to unlock organic value through a diamond drill exploration program on the Company’s 100% owned San Diego Project, one of the largest undeveloped silver projects in Mexico.\n\nKey Highlights:\n\n- Diamond drill exploration program of approximately 4,500 metres, planned to commence early November 2020, subject to COVID restrictions\n\n- Exploration focus will be resource expansion of the existing compliant mineral resource block model zones\n\n- Exploration Manager, Rafael Puente, added to the team in Mexico\n\nGreg McKenzie, President and CEO commented, \"We are excited to commence exploration on the Company’s 100% owned San Diego Project, host to one of Mexico’s largest undeveloped silver deposits and a prime candidate for resource expansion. San Diego is located in a highly prospective geologic setting, approximately 2 kilometres northeast of the Peñoles El Cobre Project, which has nearly 100 drill pads and recently moved into the engineering phase with optimization studies underway.\n\nAfter an extensive search of candidates, we would like to welcome Rafael Puente onboard as Exploration Manager, Mexico.\"\n\n2020 Exploration Program at the San Diego Project\n\nThe 2020 exploration program will consist of approximately 4,500 metres of diamond drilling in 10-12 holes focussed on expanding mineral resources in the Fernandez, 1849, Arroyo and Trovador Zones (Figure 1). The drill program will commence in early November 2020, subject to restrictions from COVID and mobilization of the drill company.\n\nAdditions to Regional Technical Team\n\nThe Company has added Rafael Puente as Exploration Manager, Mexico to the technical team. Mr. Puentes is an accomplished geologist with over 17 years of experience working in similar roles with companies such as Argonaut Gold, Primero Mining, Cerro Resources, Kings Minerals, and Great Panther Resources. The Company has issued to Mr. Puente 200,000 stock options, each of which may be exercised to purchase one common share of the Company at an exercise price of $0.36.\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.","Silver Storm Mining Extends San Marcos 100m, Yields High-Grade Silver\n\nToronto, Ontario, June 24, 2024: Silver Storm Mining Ltd. (“Silver Storm” or the \"Company\") (TSX.V: SVRS | OTCQB: SVRSF | FSE: SVR), is pleased to announce further drill results from its Phase 1 diamond drilling program at the Company’s 100% owned La Parrilla Silver Mine Complex, located in Durango Mexico. Results from the 16 holes (1,935 metres (“m”)) contained within this release are from the San Marcos Mine.\n\nKey highlights include:\n\n- In San Marcos South, hole SM-24-010 returned **504 g/t Ag.Eq over 5.14 m and 367 g/t Ag.Eq over 2.63 m** within a broader interval of **249 g/t Ag.Eq over 19.03 m** and **427 g/t Ag.Eq over 2.13 m**\n\n- SM-24-011 returned **569 g/t Ag.Eq over 2.00 m** and **431 g/t Ag.Eq over 1.87 m** within a broader interval of **319 g/t Ag.Eq over 11.75 m**\n\n- Both holes 010 & 011 are located approximately 35 m and 100 m, respectively, downdip below the 1790 EL stope where the composited weighted average grade of historical channel samples returned **597 g/t Ag.Eq over a strike length of 33 m and average width of 2.37 m. Results from these two holes indicate mineralization has become wider, below previous mined horizons.**\n\n- SM-24-014 returned 204 g/t Ag.Eq over 1.00 m, SM-24-012 returned **503 g/t Ag.Eq over 0.49 m** and 141 g/t Ag.Eq over 1.21 m, and SM-24-008 returned 182 g/t Ag.Eq over 0.76 m\n\n- Further extends the oxide mineralization approximately 77 m to the south-southeast from the last mine development in the area\n\n- In San Marcos North, hole **SM-24-017 returned 405 g/t Ag.Eq over 1.00 m**, **SM-24-016 returned 191 g/t Ag.Eq over 3.25 m,** SM-24-005 returned 178 g/t Ag.Eq over 2.50 m and **371 g/t Ag.Eq over 1.00 m**, SM-24-004 returned 148 g/t Ag.Eq over 0.72 m, and SM-24-003 returned 163 g/t Ag.Eq over 0.40 m\n\n- Intercepts from holes SM-24-004 and SM-24-017 extend the oxide zone mineralization respectively 37 m and 100 m below the last mine development in this area\n\n- A new mineralized zone was discovered approximately 10 m to the southwest of the San Marcos Zone with hole SM-24-004 returning **283 g/t Ag.Eq over 0.55 m**, SM-24-005 returning 147 g/t Ag.Eq over 3.50 m.","Silver Storm Mining Boosts La Parrilla Indicated Resources by 107%\n\nToronto, Ontario, February 11, 2025: Silver Storm Mining Ltd. (“Silver Storm” or the \"Company\") (TSX.V: SVRS | OTC: SVRSF | FSE: SVR), is pleased to announce the results of an updated Mineral Resource estimate (“Updated Mineral Resource Estimate”) reported in compliance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) for the Company’s 100% owned La Parrilla Silver Mine Complex, located in Durango Mexico. The Updated Mineral Resource Estimate was completed by David F. Machuca-Mory, PhD, PEng, of SRK Consulting (Canada) Inc. (“SRK”).\n\nHighlights of the Updated Mineral Resource Estimate include:\n\n- **107% increase in Indicated Mineral Resources, from 5.2 Moz Ag.Eq in the 2023 Mineral Resource Statement to 10.8 Moz Ag.Eq**\n\n- **58% increase of Inferred Mineral Resources, from 10.3 Moz Ag.Eq in the 2023 Mineral Resource Statement to 16.3 Moz Ag.Eq**\n\n- **Approximately 90% of the Indicated and 85% of the Inferred Mineral Resource tonnage is sulphide mineralization; 10% of the Indicated and 15% of the Inferred Mineral Resource tonnage is oxide mineralization**\n\n- **Silver dominant: 66% of the Indicated and 69% of the Inferred Updated Mineral Resource gross metal value is derived from silver**\n\n- **23 additional mineralized structures have been modelled, including several that were previously mined by the former operator, with significant upside potential**\n\n- **Total all-in exploration cost of US$0.22/oz Ag.Eq discovered**\n\nGreg McKenzie, President and CEO, commented, \"We are incredibly pleased with this latest resource update. We achieved a material 107% increase in Indicated Resources and there was also a significant increase in Inferred Resources at La Parrilla. With further drilling, we would expect 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.\n\nOur 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 18,626 metres (“m”) 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 Drills 661 g/t Ag.Eq over 3.7 m and 328 g/t Ag.Eq over 15.4 m at San Marcos\n\nToronto, Ontario, July 22, 2026: Silver Storm Mining Ltd. (“Silver Storm” or the \"Company\") (TSX.V: SVRS | OTCQX: SVRSF | FSE: SVR), is pleased to announce drill results from the diamond drilling program at the Company’s 100%-owned La Parrilla Silver Mine Complex (“La Parrilla”) located in Durango State, Mexico. Drill results in this release are from the mineralized oxide zones within the past-producing San Marcos underground mine.\n\nKey highlights include:\n\n- Hole IDP-SM-26-003A returned **661 g/t Ag.Eq over 3.70 meters (“m”) (ETW(3) 3.48 m), including 1,231 g/t Ag.Eq over 1.60 m (ETW 1.50 m).**\n\n- Hole EDP-SM-26-006 returned **328 g/t Ag.Eq over 15.35 m (ETW 11.76 m), including 1,461 g/t Ag.Eq over 2.00 m (ETW 1.53 m)**.\n\n- Hole IDP-SM-26-015 returned **617 g/t Ag.Eq over 3.90 m (ETW 2.24 m), including 969 g/t Ag.Eq over 1.90 m (ETW 0.75 m).**\n\n- Hole IDP-SM-26-010 returned **366 g/t Ag.Eq over 5.05 m (ETW 4.97 m), including 554 g/t Ag.Eq over 1.70 m (ETW 1.67 m).**\n\n- Hole IDP-SM-26-002 returned **221 g/t Ag.Eq over 8.05 m (ETW 7.56 m), including 744 g/t Ag.Eq over 1.50 m (ETW 1.41 m).**\n\n- The infill and exploration drill results from San Marcos **demonstrated the potential to extend the Indicated Resources by additional 100 m toward the surface over a strike length of 425 m, while the Inferred Resources have the potential to be extended by approximately 65 m toward the surface.**"]
Leadership
Greg McKenzie (Director, President and CEO, Mr. McKenzie (JD, MBA) is a former senior investment banker with more than 20 years of experience in financing, M&A, financial advisory, valuation, and strategic advice to mid-cap companies. He has held positions with Morgan Stanley, CIBC World Markets and Haywood Securities, and has been involved in transactions valued in excess of $18 billion. In addition to his capital market experience, he previously practiced corporate law with a leading Canadian securities and M&A law firm.), Carmelo Marrelli (Chief Financial Officer, Carmelo Marrelli (CPA, CA, CGA), is the principal of The Marrelli Group. He is a Chartered Professional Accountant and a member of the Institute of Chartered Secretaries and Administrators, a professional body that certifies corporate secretaries. He has a Bachelor of Commerce degree from the University of Toronto. He also acts as the chief financial officer to a number of issuers on the TSX, TSX-V and CSE, as well as non-listed companies, and as a director of select issuers.), Will Ansley (Vice President Corporate Development & Investor Relations, With over 20 years of experience Mr. Ansley (CPA, CA) has been involved with the development and construction of seven mines in the Americas, including six mines in Ontario; he was the Director of Business Development for FNX Mining Company Inc. and the Vice President of Corporate Planning & Strategy for Lake Shore Gold Corp., and was the Chief Operating Officer of Mineral Streams Inc. where he helped orchestrate its successful sale to AuRico Metals Inc. in 2015.)

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