Silver is up today, no reason at all we should be down that I can find.
Plus:
Silver Could Outperform Gold in 2022
8:50 am ET January 20, 2022 (PR Newswire)
After a year of underperformance, investors may turn to silver again this year. Silver's price action has suffered in 2021 in part due to supply bottlenecks and significantly rising energy costs. Industrial silver will contribute to the precious metal's rally in 2022 as some of the supply chain issues are resolved. A shift to more solar power is another key driver that could drive silver prices higher, according to BofA commodity strategists. Analysts remain bullish on silver, saying the precious metal could outperform gold once the bull market kicks off in 2022. Analysts' price forecast for next year ranges from $24 an ounce to over $30 an ounce, depending on the outlook. The rise in silver price should be beneficial for silver stocks like Summa Silver (TSX-V:SSRV) (OTCQB:SSVRF), First Majestic Silver (NYSE:AG) (TSX:FR), Coeur Mining Inc (NYSE:CDE), Hecla Mining (NYSE:HL), and McEwen Mining (TSX:MUX) (NYSE:MUX).
Summa Silver (TSXV: SSVR) (OTCQB: SSVRF) is a Canadian junior mining exploration company focused on drilling at its two wholly-owned high-grade silver-gold properties in the United States, the Hughes property in Tonopah, Nevada, and the Mogollon Property in New Mexico.
In December, Summa Silver announced additional high-grade silver and gold drill results on the Hughes property. The mining company intersected 702 g/t silver equivalent over 3.9 m from five holes from the Belmont Mine target (rescue veins) and 4,116 g/t silver equivalent over 0.4 m from two holes from the Murray target.
"In less than two years since founding the Company we have now drilled multiple zones of strong mineralization over 3.5 km at the Hughes Property in Nevada. Additionally, surface exploration has revealed that the property features totally un-tested and high-priority targets, several of which are along immediate trend from one of the most prolific and famous historic silver districts in the US," said Summa Silver CEO Galen McNamara. "Substantial amounts of drilling are required both here and on our Mogollon Property in 2022 as we drive towards mineral resource estimates. I anticipate that strong mineralization will be intersected regularly as drilling continues."
Later in December, Summa Silver also provided an update on ongoing drilling on the Mogollon property. The company intersected a 50-meter vein zone with visible mineralization in the first hole. McNamara said that while they did not expect the entire intersection to be high grade, the large area of low sulfidation classic veining in the first hole attests to the prospectivity of the Queen vein and the importance of the mineralization system in general. He added that the hole confirms their modeling of historical mining records and limited exploration drilling of the target, as well as supports the vein's strong potential along with strike and down dip.
