In a recent interview on Grizzle's Patio PDAC Series, Galen McNamara, the CEO of Summa Silver (TSXV: SSVR), shed light on the intricate dynamics of silver demand and the company's exploration strategy. With a keen understanding of silver's role as both a store of wealth and a crucial component in clean technology, McNamara provided insights into the future of the silver market.
Silver, though often overshadowed by gold, possesses unique attributes that drive demand from two distinct angles. McNamara highlighted the traditional appeal of silver as a precious metal held by individuals for wealth preservation.
However, what sets silver apart is its indispensable role in the clean energy revolution, particularly in solar technology. McNamara emphasized how even a small amount of silver in each solar panel contributes significantly to the overall demand for the metal, presenting a compelling case for its long-term growth.
While demand for silver continues to surge, the supply side faces significant challenges. McNamara outlined the scarcity of high-grade silver deposits and the complexities of mining operations, compounded by geopolitical factors in certain regions.
Despite these hurdles, Summa Silver remains undeterred, employing a differentiated exploration strategy that capitalizes on historical data and modern technology.
Summa Silver's approach involves meticulous analysis of historical mining records and advanced 3D modeling to pinpoint prospective drilling locations. McNamara's team operates in regions rich in mining history, leveraging legacy data to identify new exploration targets.
Summa Silver’s recent drilling success at its Mogollon Project in New Mexico, where a significant silver discovery of 506 grams per tonne of silver equivalent (AgEq) was made, highlights the potential for high-grade mineralization in the area.
Looking ahead, McNamara expressed optimism about the company's exploration endeavors, fueled by a favorable macroeconomic backdrop for silver. With two promising projects in Nevada and New Mexico, both situated in mining-friendly jurisdictions, Summa Silver is poised to unlock substantial value for its shareholders.
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Posted on behalf of Summa Silver Corp.