Announcement Date: 2022-08-29
Announcement Type: PEA
Announcement Code: NI43-101
Company name: Southern Silver Exploration Corp.
Project name: Cerro Las Minitas
Location: Mexico
Commodities: Silver,Copper,Lead,Zinc
Highlight: PEA result incl. Post Tax NPV (5%) of USD $349M & IRR of 17.9%
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Vancouver, British Columbia–(Newsfile Corp. – August 29, 2022) – Southern Silver Exploration Corp. (TSXV: SSV) (“Southern Silver”) reports results from its Preliminary Economic Assessment (‘PEA”) on its 100% owned Cerro Las Minitas project (“CLM”). Robust Project Economics – Base Case: after-taxNPV5% of $349M (C$450M) and IRR of 17.9% (using Ag- $21.95/oz, Cu – $3.78/lb, Pb – $0.94/lb and Zn – $1.33/lb); Excellent Silver and Zinc Price Leverage – Base-case +15%: after-taxNPV5% of $561M (C$730M) and IRR of 24.4% (Ag- $25.24/oz, Cu – $4.35/lb, Pb – $1.08/lb and Zn – $1.53/lb); Large-Scale Underground Mining Operation with a 15-year mine life with an annual average plant feed of 14.2 Mozs AgEq (inc. 5.8 Mozs Ag) at an AISC of $13.27/oz AgEq sold; High-Revenue Project: Base Case gross revenues total US$3.7B with silver representing 42% of revenues, zinc representing 39% of revenues. The project has an Initial CapEx of $341M and an NPVto-CapEx ratio of 1.0X; Well Located Project in a mining friendly jurisdiction with excellent infrastructure in southeast Durango state, Mexico; and Further Exploration Upside: Drilling through to August 2022 has confirmed mineralized extensions to the Mina La Bocona and Skarn Front deposits that have not been incorporated into the current Resource Model. Other deposits remain open laterally and to depth and remain to be explored
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