- Silver Storm Mining, a beaten down silver stock, is announcing further drill results from phase one at its La Parrilla silver mine complex in Durango, Mexico
- Results from seven holes from the Quebradillas mine are highlighted by 689 g/t silver equivalent (AgEq) over 9.39 m, including 1,000 g/t AgEq over 5.25 m
- Silver Storm Mining, formerly Golden Tag Resources, provides exposure to advanced-stage silver projects in Durango, Mexico
- Silver Storm stock has lost more than 35 per cent year-over-year, but has gained 125 per cent since 2019
Silver Storm Mining (TSXV:SVRS), a beaten down silver stock, is announcing further drill results from phase one at its La Parrilla silver mine complex in Durango, Mexico.
Results from seven drill holes from the Quebradillas mine are highlighted by 689 g/t silver equivalent (AgEq) over 9.39 m, including 1,000 g/t AgEq over 5.25 metres, from a breccia zone that can be traced 235 m toward the surface, as well as 316 g/t AgEq over 4.09 m, including 663 g/t AgEq over 1 m and 297 g/t AgEq over 1.58 m, intersecting the San Nicolas Zone.
Surface mapping has also identified three subparallel zones to the west of San Nicolas with historical surface samples yielding over 500 g/t AgEq. Silver Storm is putting together trenching and surface diamond drilling programs for the area.
High-grade mineralization at San Nicolas extends from surface to a continuous depth of 370 m, with management confident that further drilling and mapping will extend mineralization at San Nicolas and the nearby subparallel veins identified to date.
The La Parrilla complex boasts a 2,000 tpd mill, five underground mines and an open pit that produced a combined 34.3 million ounces AgEq between 2005 and 2019. Silver Storm purchased the project from First Majestic Silver (TSX:FR) in August 2023.
“We are very pleased with the drilling and geologic mapping results at San Nicolas,” Greg McKenzie, Silver Storm’s president and chief executive officer, said in a statement. “Prior to placing La Parrilla on care and maintenance, First Majestic had commenced mining over 5 established levels and 80 vertical metres at San Nicolas. We have now been able to expand and trace the high-grade mineralization 370 m down from surface, with continuity. It is a tremendous benefit to have all the infrastructure available to support the potential mining and processing of these expanding zones.”
The news follows additional phase-one results at La Parilla disclosed in January 2024, December 2023 and November 2023, which indicate that its August 2023 mineral resource estimate – 5,193 koz AgEq indicated and 10,328 koz AgEq inferred – has more shareholder value to offer propelled by bullish sentiment in the silver market.
Silver Storm, formerly Golden Tag Resources, provides exposure to advanced-stage silver projects in Durango, Mexico.
Click here for more 2023 and historical samples and assay results from the La Parilla silver mine complex.
Silver Storm stock (TSXV:SVRS) opened unchanged, trading at C$0.135 per share. The stock has lost more than 35 per cent year-over-year, but has gained 125 per cent since 2019.
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