96,663,948 Weighted average number of common shares outstanding
Southern Silver’s growth strategy is to focus on the development of quality assets, in significant mineralized trends, close to infrastructure. With this in mind, the Company is engaged in the acquisition, exploration and development of high-grade precious/base metals properties within North America. The high exploration potential of Southern Silver’s projects combined with a low market capitalization, a commitment to the joint venture business model and low operating costs create an excellent opportunity for future corporate growth and an increase in shareholder value.
Southern Silver continues to advance their flagship Cerro Las Minitas silver-lead-zinc property located in Durango State, Mexico. At over 340 square kilometers in size, the project features a large land position within the prolific Faja de Plata (Belt of Silver) of northern Mexico, with historic production and resources of over three billion ounces of silver and additional potential for future “world class” discoveries.
On May 9th, 2019, an updated resource was announced of 37.5Mozs Ag, 303Mlbs Pb and 897Mlbs Zn (134Mozs AgEq; 2.0Blbs ZnEq) Indicated and 45.7Mozs Ag, 253Mlbs Pb and 796Mlbs Zn (138Mozs AgEq; 2.0Blbs ZnEq) Inferred.(1) Click here for the full summary table and here for the full report. This works out to an approximate exploration cost of $0.07 per oz of silver equivalent in the ground, suggesting a fast and cost-effective upside potential which the company plans to pursue in the coming years.
The Company also continues to advance the Oro property, New Mexico, USA. This 100% owned 2,237 hectare, gold, silver, copper, lead and zinc property features a classic porphyry zonation over a 6 square kilometer area within the highly prospective Laramide Porphyry belt of the southern USA. Southern Silver is actively seeking a partner to finance further exploration on this property.