Southern Silver Exploration (SSV.V) has now published its long-awaited resource update and as we expected, the Cerro Las Minitas project now contains in excess of 200 million ounces silver-equivalent with 116 million ounces in the indicated category and almost 93 million ounces in the inferred resource category.
The average grade of the resource is pretty decent at 356 g/t silver-equivalent in the indicated category and 332 g/t in the inferred category. We now really have the impression Southern Silver is moving towards presenting Cerro Las Minitas as a base metal project as we believe this is the first time the company has also provided a zinc-equivalent grade and resource (3B pounds zinc-equivalent at an average grade of approximately 7.4%.
The technical report will be filed within the usual 45 days, but we will already have a conversation with Robert MacDonald in Vancouver this week as we are particularly keen on learning the details of a 2018 exploration program which will include an exploration program to drill-test the CLM West targets.
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