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Southern Silver Exploration Corp (TSXV:SSV)

Summary

Southern Silver Exploration Corp. is a TSX Venture Exchange listed precious metal exploration and development company based in Vancouver, Canada. The company is focused on the discovery of world-class mineral deposits in north-central Mexico and the southern USA.

Market Overview

$0.37 (-6.580%)
Vol 8,175.00
10 Days Avg Vol 86,851.67
3 Mo Avg Vol 70,817.86
52 Wk Lo/Hi $0.27 - $0.60
YTD Price Gain % 0%
12 Wks Moving Avg 0.383056
200 Days Moving Avg 0.409350
Market Cap 31,117,535

Company Background

 Southern Silver Exploration Corp. is a precious metal exploration and development company with a focus on the discovery of world-class mineral deposits in north-central Mexico and the southern USA. Our specific emphasis is the Cerro Las Minitas silver-lead-zinc project located in the heart of Mexico’s Faja de Plata, which hosts multiple world-class mineral deposits such as Penasquito, San Martin, Naica and Pitarilla. We have assembled a team of highly experienced technical, operational and transactional professionals to support our exploration efforts in developing the Cerro Las Minitas project into a premier, high-grade, silver-lead-zinc mine. The Company engages in the acquisition, exploration and development either directly or by J/V.

Highlights

Right Project: Cerro Las Minitas, Durango Mexico (Ag/Pb/Zn) 13,640 ha;
  • Location and Infrastructure – 70km NE of Durango, (pop. 631,000)
  • Three deposits Identified ; Blind/El  Sol and Mina Santo Nino
  • 2016 Mineral Resource Estimate (150g/t AgEq cut-off):
    • Indicated - 36.5Mozs AgEq: 10.8Mozs Ag, 189Mlbs Pb and 207Mlbs Zn; and
    • Inferred - 77.3Mozs AgEq: 17.5Mozs Ag, 237Mlbs Pb and 626Mlbs Zn
  • New High-grade Zone Identified at Mina La Bocona Extension
  • On trend with the San Sebastian (Hecla) and Avino Ag-Au Mines
  • A US$2.0M Exploration/Drill program consisting of +10,000m is currently underway to increase the existing resource and category to a Measured and Indicated status
  • Exploration Target is to achieve +20Mt grading80-120 g/t Ag and 4-8% Pb/Zn ( +200M ozs AgEq.) in 2017
  Right Partner: Electrum Global Holdings L.P. – A privately owned global natural resource investment management company with a history of strategic investments in both precious and base metal companies. The Electrum Group holds a large and diversified global portfolio of precious metals exploration projects.  Electrum was founded by Thomas S. Kaplan- B.A., M.A., PhD, Executive Chairman, (San Cristobal Mine) with key personnel, such as Larry Buchanan, PGeo, PhD, leading expert on epithermal deposits and Larry Cheesbrough, CA, President of the Exploration Division.

Share Structure

Southern Silver Exploration Corp.
SSV: TSX.V   SSVFF:OTCQB   SSVCL: SSEV  SEG1: FRANKFURT
    Common Shares 82.1 million
    Outstanding Options 7.0 million
    Common Stock Warrants 52.4 million
    Fully Diluted Shares 141.5million
    Board & Management Holdings 10%
    Electrum Global Holdings L.P. 37.6%
   Share Trading Activity
    3 month average daily   volume(shares) 300,000
    52 week low/high ($/share) $0.03/$0.64
    Current Share Price (Date) $0.42(11/3/16
    Average Warrant Price $0.15
   Market Capitalization (I/O) 38,000,000
   Cash Balance $1.8 M
   Debt Outstanding 0
 (all amounts as of Nov. 3, 2016)

Other Information

Projects/Properties Information

 

Cerro Las Minitas, Durango Mexico (Ag/Pb/Zn)

  • Advanced Ag-Pb-Zn project with a significant mineral resource and continued exploration upside
  • 91 core holes, 35,955m drilled since 2011
  • $13.1M spent in acquisition and exploration, at a discovery cash cost of $0.13/oz AgEq
  • 2016 Mineral Resource Estimate (150g/t AgEq cut-off)1:
    • Indicated - 36.5Mozs AgEq: 10.8Mozs Ag, 189Mlbs Pb and 207Mlbs Zn; and
    • Inferred - 77.3Mozs AgEq: 17.5Mozs Ag, 237Mlbs Pb and 626Mlbs Zn
  • Three deposits identified and modeled
  • 1000m strike x 600m down dip; remains open

Management Profiles

Lawrence Page, B.A., LL.B., Q.C.

President & Director

Lawrence Page obtained his law degree from the University of British Columbia in 1964 and was called to the Bar of British Columbia in 1965 where he has practiced in the areas of natural resource law and corporate and securities law to the present date. Mr. Page has established a unique relationship with financiers, geologists and consultants and has been counsel for public Companies which have discovered and developed producing mines in North America. Specifically, he has been a Director and Officer of Companies which have discovered and brought into production the David Bell and Page Williams mines in Ontario, the Snip, Calpine/Eskay Creek and Mascot Gold Mines in British Columbia, as well as the discovery of the Penasquito Mine in Mexico.

Robert W.J. Macdonald, MSc., PGeo

Vice-President of Exploration

Mr. Macdonald is the Vice President of Geological Services for the Manex Resource Group of Companies and in such capacity has been the Exploration Manager for several publicly listed companies including Homestake Resource Corporation (formerly Bravo Gold Corp.), Southern Silver Exploration Corp., Valterra Resource Corporation, Duncastle Gold Corp. and Fortune River Resource Corp. Mr. Macdonald has overseen the exploration of many projects throughout North America including the discovery and delineation of the high-grade 1.2 million ounce Homestake Ridge Au-Ag deposit in northern British Columbia and is currently advancing Southern Silver’s 10 million tonne Cerro Las Minitas Ag-Pb-Zn project, Durango State, Mexico.