Impact: Mildly Positive
Southern Silver (SSV) reported an updated mineral resource estimate (MRE) for its 100%-owned Cerro Las Minitas (CLM) Ag-Cu-Pb-Zn project in Durango State, Mexico. The MRE now includes 140M oz AgEq and 210M oz in indicated and inferred resources, respectively. This estimate incorporates drilling from 2022 to add to the resources outlined in the 2021 MRE considered by the Aug/22 PEA (read more). We view this as a positive step for Southern Silver as the already large CLM deposit, which ranks among the largest undeveloped silver projects globally, grew by a further ~4.5%.