Southern Silver Exploration Corp. is an exploration and development company with a focus on the identification of world-class mineral deposits in major jurisdictions, advancing them either directly or through joint-venture relationships. Our specific emphasis is on advancing the 100% owned Cerro Las Minitas project, one of the world’s largest undeveloped silver-lead-zinc deposits, to a production decision.
Southern has assembled a team of highly experienced technical, operational and transactional professionals to support our efforts in developing (recent robust PEA) the Cerro Las Minitas project into a premier, high-grade, silver-lead-zinc mine. Our property portfolio also includes the Oro porphyry copper-gold project where a diamond drill program is underway and the Hermanas gold-silver vein project where permitting applications for the conduct of a drill program is underway; both are located in southern New Mexico, USA.
Cerro Las Minitas Project
Southern Silver continues to advance the Cerro Las Minitas project as one of the world’s largest undeveloped silver/lead/zinc resources, through advanced exploration, pre-production metallurgical and engineering work, and economic assessment. The CLM Ag-Pb-Zn-Cu Skarn system is well located in southern Durango, Mexico, in a safe jurisdiction, surrounded by producing mining companies, with easy access and strong community support.
A total of 226 drill holes for 96,411 metres has been completed on the CLM Project with exploration expenditures of over US$35.0 million equating to exploration discovery costs of approximately C$0.09 per AgEq ounce.
Advancing our flagship Cerro Las Minitas (CLM) Ag-Pb-Zn Project In Durango, Mexico;
One of the largest and highest grade, undeveloped, silver projects in the world!
• Ind: 137Moz AgEq at 347g/t AgEq1
• Inf: 198M oz AgEq at 314g/t AgEq1
• Well-established silver mining district in Durango, Mexico near several major mining companies Corporate Highlights • 100% ownership and control of the CLM Project
• Full treasury to continue ESG initiatives, permitting, drilling, engineering and other corporate objectives
August 2022 preliminary economic assessment results (PEA)
• Base Case After tax NPV5% of US$397 Million and IRR of 17.9%(1)
• Excellent Silver and Base Metal Price Leverage – Base Case +15% After Tax NPV of US$561M with IRR of 24.4%
• A Large-scale Underground Mining Operation with a 15-Year Mine Life with an Average Annual Plant Feed of 14.2Moz AgEq (inc. 5.8Moz Ag) at an AISC(2) of $13.27/oz AgEq sold
• High Revenue Project – Base Case Gross Revenues total US$3.7B with Silver Representing 42% of revenues and Zinc Representing 39% of Revenues
