Southern Silver Exploration Corp. · TSXV:SSV
Southern Silver Exploration — Investor Presentation (November 2021)
23 slides from Southern Silver Exploration's investor presentation, November 2021
Slide 1: November 2021
November, 2021 SSV: TSX-V SSVCL: SSEV SSVFF: OTCQB
Slide 2: Forward Looking Statements
Forward Looking Statements Some of the statements contained in this presentation may be deemed “forward-looking statements.” These include estimates and statements that describe the Company’s future plans, objectives or goals, and expectations of a stated condition or occurrence. Forward-looking sta
Slide 3: Investment Highlights
Investment Highlights Focused on the Cerro Las Minitas (CLM) Ag-Cu-Pb-Zn project located in Durango, Mexico One of the Largest and Highest Grade Undeveloped Value-Creating Transactions Company Catalysts Silver Projects in the World • Resource update: Q4 2021; with • Indicated: 137Moz AgEq at 347g/t
Slide 4: Recent Headlines
Recent Headlines October 27, 2021 NR-18-21 “Southern Silver Announces Increase in the Mineral Resource at Cerro Las Mintas to Indicated 137Mozs AgEq or 2.3Blbs ZnEq: 42.1Mozs Ag, 358Mlbs Pb, and 895Mlbs Zn; and Inferred 198Mozs AgEq or 3.3Blbs ZnEq: 73.6Mozs Ag, 500Mlbs Pb, and 1,009Mlbs Zn ”(1) 1.
Slide 5: Capital Markets Profile
Capital Markets Profile Capital Structure Share Price and Volume (Last 18 Months) Ticker TSX-V:SSV Share Price (Oct 27, 2021) C$0.42 Current Shares Outstanding 290.9M 1 Options 17.7M Warrants 66.4M2 Fully Diluted Shares Outstanding 375M Market Capitalization (basic) C$122.2M Cash & Cash Equivalents
Slide 6: Cerro Las Minitas: One of the Largest and Highest Grade Undeveloped Silver Assets
Cerro Las Minitas One of the Largest and Highest Grade Undeveloped Silver Assets in the World Top Ten in size: 335Mozs AgEq – Higher Grade: 326g/t AgEq 2021 Mineral Resource Estimate (as of Oct 27th, 2021 using a $60NSR/t cut-off); Indicated – 137Moz AgEq 42.1Moz Ag, 44Mlb Cu, 358Mlb Pb and 895Mlb Z
Slide 7: Valuation
Valuation Southern Silver trades at C$0.31/oz AgEq, which is a 68% discount to the average of silver-focused developers of C$0.95/oz AgEq EV/Resource of Silver-Focused Developers with Key Projects in the Americas www.southernsilverexploration.com 7 TSX-V: SSV
Slide 8: Transformative, Value Creating Transaction
Transformative, Value Creating Transaction • Southern Silver has completed an agreement with Electrum Global Holdings (Electrum) to acquire Electrum’s 60% interest in the Cerro Las Minitas (CLM) Project in Durango, Mexico • Low acquisition price of US$15.0 million in total cash and share payments (a
Slide 9: Management Team and Board
Management Team and Board Experienced Mine Finders with a History of Success in Mexico Lawrence Page (LL.B, QC) • Director and Officer of a number of public prominent exploration and mining companies President, Director • Major Projects and Mines involvement: Penasquito, Mexico; Hemlo and Eskay Cree
Slide 10: Project Portfolio
Project Portfolio District Scale Exploration & Development Cerro Las Minitas, Durango, Mexico – Flagship • 100% owned • +US$30M spent on acquisition and exploration since 2011 • New mineral resource has increase the project size by 33% • Engineering and Metallurgical studies are on-going with positi
Slide 11: Permitting and Community Relations
Cerro Las Minitas Permitting and Community Relations An Active Exploration and Development Area with Superior Infrastructure and Community Support • Safe jurisdiction, around non-narcotic related agriculture • Environmental permits in place • Social license initiatives – exploration access agreement
Slide 12: Superior Location and Infrastructure
Cerro Las Minitas Superior Location and Infrastructure Neighboring several large companies (Fresnillo, Silver Standard, Coeur, Hecla and Avino) • Property is now 345 km², in a prolific mining region • Located 70km NE of Durango (pop. ~650,000) with highway/road and power access • CLM West claims add
Slide 13: Looking North from the Autopista (Highway)
Cerro Las Minitas Looking North from the Autopista (Highway) Blind Zone/El Sol Skarn Front Zone Zone/Las Victorias (Mineral Resource) Zone (Mineral Resource) Mina La Bocona South Skarn Extension (Target) (Target) www.southernsilverexploration.com 13 TSX-V: SSV
Slide 14: Exploration and Discovery
Cerro Las Minitas Exploration and Discovery Two New Exploration Targets Transitioned to Mineral Resources Components of Discovery CLM is a Ag-Pb-Zn CRD/Skarn system hosted in similar • A Central Monzonite Intrusion acts as the heat pump to the major polymetallic Mexican deposits like: mineralizing s
Slide 15: 2021 Resource Estimate
Cerro Las Minitas 2021 Resource Estimate • 2021 Mineral Resource Estimate (as of October 27, 2021 using a US$60/t NSR cut-off); – Indicated – 137Moz AgEq 42.1Moz Ag, 44Mlb Cu, 358Mlb Pb and 895Mlb Zn (347g/t AgEq; or US$130 NSR/t) – Inferred – 198Moz AgEq: 73.6Moz Ag, 98Mlb Cu, 500Mlb Pb and 1,009Ml
Slide 16: 2021 Resource Highlights
Cerro Las Minitas 2021 Resource Highlights Top Ten in size: 335Mozs AgEq – Underground Grade: 326g/t AgEq The 2021 Mineral Resource update, at a US$60/t NSR cut-off, features: • Indicated Mineral Resources to 12.3Mt totalling 137Mozs AgEq or 2.3 Blbs ZnEq; and • Inferred Mineral Resources to 19.6Mt
Slide 17: 2020-21 Mineral Resource – Two New Deposits
Cerro Las Minitas 2020-21 Mineral Resource – Two New Deposits Two New Deposits; Resource Tonnage Increased by 33% Resources Added on the East Side of the Cerro Updated Resources Blind-El Sol- Tonnage Las Victorias Ind: 12.3Mt +33% Mina La Bocona Inf: 19.6Mt Central Contained Metal Intrusion Ind: 137
Slide 18: Metallurgical Test work - Engineering
Cerro Las Minitas Metallurgical Test work - Engineering PEA Study to Incorporate Metallurgical and Engineering Test Work Skarn Front Metallurgical Results • 92% Silver Recovery • 94.7% Zinc Recovery • 83.6% Lead Recovery • 60% Copper Recovery Engineering studies continue to de-risk the project • Dev
Slide 19: Project Catalysts
Cerro Las Minitas Project Catalysts Continued Exploration Up to 10,000 metres of drilling planned to test several un-tested or poorly-tested targets in the area of the Cerro and will form the basis for further exploration on the project in 2022 New Drilling at: • El Sol Concession • North Felsite •
Slide 20: Oro Property
Oro Property Asset Overview The Company has identified favorable targets to Provide Investors an Exposure to Copper Oro Project, southern New Mexico Property Map • 100% owned by SSV • +$3 million spend in Acquisition and Exploration • Permitting 6 hole 4000m core hole program to start Q4’21 • Transi
Slide 21: Oro Property: Regional scale targets for drill testing
Oro Property Regional scale targets for drill testing • Large zone of Magnetic-destruction coincident with conductive zones and surface sericite alteration • Historic drillholes either terminated too early or drilled wide intervals of anomalous Cu-Au mineralization immediately adjacent to best ZTEM
Slide 22: Oro Property: Drill Targeting on Porphyry and Skarn Targets
Oro Property Drill Targeting on Porphyry and Skarn Targets • Six Drill Sites – 4000m Proposed Core Drilling program • Targeting porphyry systems in the NW part of the sericite-clay alteration zones (A-B-E-G) and Skarn targets in the SE part of the zone (C-D-F-H) • Porphyry Targets: one hole for each
Slide 23: Why Southern Silver?
Why Southern Silver? Further Greenfields New Resource Update Exploration on the CLM PEA results anticipated has grown resource by (El Sol claim) and Oro Q2-2022 33% properties 1. The exploration target is conceptual in nature and relies on projections of mineralization that are beyond the standard C
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