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Southern Silver Files NI43-101 Technical Report for its Updated Preliminary Economic Assessment for the Cerro Las Minitas Project
Vancouver, British Columbia--(Newsfile Corp. - July 24, 2024) - Southern Silver Exploration Corp...
About this update from Southern Silver Exploration Corp.
[{"type":"text","content":"\nSouthern Silver Files NI43-101 Technical Report for its Updated Preliminary Economic Assessment for the Cerro Las Minitas ProjectVancouver, British Columbia--(Newsfile Corp. - July 24, 2024) - Southern Silver Exploration Corp. (TSXV: SSV) (\"Southern Silver\") reports that it has filed on SEDAR its National Instrument 43-101 Technical Report titled Cerro Las Minitas, NI43-101 Technical Report, Preliminary Economic Assessment dated July 23, 2024 (the \"Technical Report\"). The authors are Ausenco Engineering USA South Inc. and Ausenco Sustainability ULC. (\"Ausenco\"), Kirkham Geosystems Ltd. (\"KGL\"), Entech Mining Limited (\"Entech\"), and MPC Metallurgical Process Consultants Limited (\"MPC\"). The report can also be found on Southern Silver's website by clicking here.Filing of the Technical Report follows Southern Silver's news release issued June 10th, 2024 announcing the results of its Updated Preliminary Economic Assessment (\"PEA\") on its 100% owned Cerro Las Minitas Project, Durango State, Mexico. PEA Highlights (all figures in $US unless otherwise noted):Robust Project Economics - Base Case1: after-tax NPV5% of $501M (C$682M) and IRR of 21.2% with a 48-month payback; Excellent Silver and Zinc Price Leverage - Base-case + 20% Metal Prices2: after-tax NPV5% of $876M (C$1,193M) and IRR of 30.1% with a 37-month payback;Base Case Metal Prices: Ag- $23.00/oz, Au - $1850/oz, Cu - $4.00/lb, Pb - $1.00/lb and Zn - $1.25/lbBase Case +20% metal prices: Ag- $27.60/oz, Au - $2220/oz, Cu - $4.80/lb, Pb - $1.20/lb and Zn - $1.50/lbThe 2024 Preliminary Economic Assessment features: A Large-Scale Underground Mining Operation with a 17-year mine life and an annual average plant feed of 14.3 Mozs AgEq3 (inc. 5.8 Mozs Ag) and life-of-mine (LOM) feed totalling 243.2 Mozs AgEq3; (inc. 98.6 Mozs Ag). LOM product sales total 194.3Mozs AgEq3 at an AISC of $13.23/oz AgEq3 sold; andA High-Revenue Project with gross revenues totalling $4.47B with silver and gold representing 45% of revenues, and zinc representing 35% of projected revenues. The project has an Initial CapEx of $388M, an NPV5%-to-CapEx ratio of 1.3X and a paydown of 48 months on a post-tax basi. AgEq is calculated on a (contained metal x metal price)/ Ag price basisThis latest economic update of Cerro Las Minitas is the culmination of a number of technical improvements of the ear...