Silver Storm Announces 107% Increase in Indicated Mineral Resources at La Parrilla
Toronto, 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”).
Highlights of the Updated Mineral Resource Estimate include:
107% increase in Indicated Mineral Resources, from 5.2 Moz Ag.Eq12 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
Greg 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.
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 18,626 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.”