Silver Storm Confirms 100 Metre High-Grade Depth Extension IN San Marcos
NEWS RELEASE
SILVER STORM CONFIRMS 100 METRE HIGH-GRADE DEPTH EXTENSION IN SAN
MARCOS
Toronto, Ontario, December 16, 2024: Silver Storm Mining Ltd. (“Silver Storm” or the "Company")
(TSX.V: SVRS | OTC: SVRSF | FSE: SVR), is pleased to announce further drill results from its Phase
2 diamond drilling program at the Company’s 100% owned La Parrilla Silver Mine Complex, located
in Durango Mexico. Results from the 9 holes (947 metres (“m”)) contained within this release are from
the San Marcos Mine.
An overview video on the La Parrilla Project is available at
www.youtube.com/watch?v=dybgKXcGrYo
Key highlights include:
• SM-24-019 returned 611 g/t Ag.Eq over 1.50 m and SM-24-018 returned 440 g/t Ag.Eq1 over
1.40 m, 576 g/t Ag.Eq over 1.00 m , and 558 g/t Ag.Eq over 2.00 m within a broader interval
of 298 g/t Ag.Eq over 8.60 m.
• Collectively, SM-24-010, 011, 018, and 019 have extended the high-grade replacement sulphide
zone over a minimum strike length of 34 m and 100 m downdip below the last mine
development in this area where historical channel samples (within the mined stope) returned
597 g/t Ag.Eq over a strike length of 33 m and average width of 2.37 m.
- Results from these holes indicate mineralization has become wider, below previous
mined horizons.
• SM-24-020 returned 483 g/t Ag.Eq over 0.73 m within a broader interval of 173 g/t Ag.Eq over
3.78 m, SM-24-021 returned 197 g/t Ag.Eq over 0.53 m and 177 g/t Ag.Eq over 1.05 m, and
SM-24-022 returned 187 g/t Ag.Eq over 1.77 m.
- These infill holes confirm the potential within the previously reported 77 m extension of the
oxide mineralization to the south -southeast from the last mine development in holes SM-
24-014 (204 g/t Ag.Eq over 1.00 m), SM -24-012 (503 g/t Ag.Eq over 0.49 m and 141 g/t
Ag.Eq over 1.21 m), and SM-24-008 (182 g/t Ag.Eq over 0.76 m).
• Hole SM-24-024 returned 322 g/t Ag.Eq over 0.50 m, 220 g/t Ag.Eq over 1.45 m, and 211 g/t
Ag.Eq over 1.60 m. SM -24-025 returned 190 g/t Ag.Eq over 2.20 m. SM-24-026 returned 155
g/t Ag.Eq over 1.76 m, 254 g/t Ag.Eq over 0.54 m, and 396 g/t Ag.Eq over 0.50 m.
- These holes were drilled to test oxide mineralization in the upper undeveloped levels of the
San Marcos Zone, located approximately 40 m above the last development in this area and
95 m below surface. These results confirm the potential of the upper near surface
levels of the mine at the southern limit of development where the San Marcos Zone
remains open to the south.
Greg McKenzie, President and CEO , commented: “We are pleased with the infill drill results
confirming the extension of the high-grade sulphide zone 100 m below the last mined stope in the San
Marcos mine. Results from the four holes in this area indicate that mineralization is becoming wider at
depth than the previously mined horizons. It is also important to recognize that additional oxide
mineralization was successfully intersected, these areas are close to surface or mine development
and could be used to supplement the oxide circuit in a potential restart scenario.”
San Marcos Zone
The San Marcos Zone is comprised of quartz-carbonate vein mineralization, striking 340 degrees and
dipping 60 degrees to the NE, hosted within a fault zone marking the eastern contact of the granodiorite
stock. It has a known strike length of 650 m with mineralization extending vertically for 450 m, and a
thickness of up to 17 m. The zone is mainly characterized by oxide mineralization consisting of
hematite, goethite, native silver, and cerargyrite. However, the southern section of the zone beneath
1875 m EL is characterized by sulphide replacement mineralization.
All nine holes targeted the southern section of the San Marcos Zone (Figures 1 & 2; Tables 1 & 2).
Holes SM -24-018 and 019 were drilled to follow up on the high-grade sulphide replacement
mineralization intersected in holes SM-24-010 (367 g/t Ag.Eq over 2.63 m and 504 g/t Ag.Eq over
5.14 m within a broader interval of 249 g/t Ag.Eq over 19.03 m and 427 g/t Ag.Eq over 2.13 m) and
SM-24-011 (569 g/t Ag.Eq over 2.00 m and 431 g/t Ag.Eq over 1.87 m within a broader interval of
319 g/t Ag.Eq over 11.75 m)(see Company news release June 24, 2024).
Hole SM-24-018 returned 440 g/t Ag.Eq over 1.40 m, 576 g/t Ag.Eq over 1.00 m, and 558 g/t Ag.Eq
over 2.00 m within a broader interval of 298 g/t Ag.Eq over 8.60 m (130.60 to 139.20 m)
approximately 45 m down dip and north of SM-24-010 and 27 m up dip and north of SM-24-011. Hole
SM-24-019 returned 611 g/t Ag.Eq over 1.50 m (126.13 to 127.63 m) approximately 34 m down dip
and south of SM-24-010 and 33 m up dip and south of SM-24-011.
Collectively, SM-24-010, 011, 018, and 019 have extended the high-grade replacement sulphide zone
over a minimum strike length of 34 m and 100 m downdip below the last mine development in this
area, with similar high-grade sulphide replacement mineralization:
• The composited weighted average grade of historical channel samples from the 1790 EL stope
returned 597 g/t Ag.Eq over a strike length of 33 m and average width of 2.37 m.
Hole SM-24-020 returned 483 g/t Ag.Eq over 0.73 m within a broader interval of 173 g/t Ag.Eq over
3.78 m (65.82 to 69.60 m) approximately 32 m to the north of SM-24-014 which returned 204 g/t Ag.Eq
over 1.00 m and 63 m up dip from SM-24-012 which returned 503 g/t Ag.Eq over 0.49 m and 141 g/t
Ag.Eq over 1.21 m. Hole SM-24-021 returned 197 g/t Ag.Eq over 0.53 m (94.65 to 95.18 m) and 177
g/t Ag.Eq over 1.05 m (98.85 to 99.90 m) approximately 44 m up dip from SM -24-020. Hole SM-24-
022 returned 187 g/t Ag.Eq over 1.77 m (50.33 to 52.10 m). These holes confirm the potential
within the previously repor ted 77 m extension of the oxide mineralization to the south -
southeast from the last mine development in holes SM-24-014 (204 g/t Ag.Eq over 1.00 m), SM -
24-012 (503 g/t Ag.Eq over 0.49 m and 141 g/t Ag.Eq over 1.21 m), and SM -24-008 (182 g/t Ag.Eq
over 0.76 m)(see Company news release June 24, 2024).
Holes SM-24-024 to 026 were drilled to test oxide mineralization in the upper undeveloped levels of
the San Marcos Zone and are approximately 40 m above the last development in this area and 95 m
below surface. Hole SM-24-024 returned 322 g/t Ag.Eq over 0.50 m (45.55 to 46.05 m), 220 g/t Ag.Eq
over 1.45 m (49.45 to 50.90 m), and 211 g/t Ag.Eq over 1.60 m (58.56 to 60.16 m). Hole SM -24-025
returned 190 g/t Ag.Eq over 2.20 m (45.00 to 47.20 m). Hole SM-24-026 returned 155 g/t Ag.Eq over
1.76 m (59.74 to 61.50 m), 254 g/t Ag.Eq over 0.54 m (63.29 to 63.83 m), and 396 g/t Ag.Eq over
0.50 m (74.15 to 74.65 m). These results confirm the potential of the upper near surface levels
of the mine at the southern limit of development where the San Marcos Zone remains open to
the south. Further drilling is planned in this area.
San Marcos Bajo 2 Zone
The San Marcos Bajo 2 Zone is subparallel to the San Marcos Zone, located on average 5 m to the
west within the footwall. Mineralization is similar in both zones. Hole SM-24-018 returned 705 g/t
Ag.Eq over 0.50 m within a broader interval of 211 g/t Ag.Eq over 9.12 m (96.28 to 105.40 m) and
SM-24-023 returned 258 g/t Ag.Eq over 0.65 m (67.43 to 68.08 m).
Table 1 – Select Assay Intervals from Holes SM-24-018 to 026 and Historical Results
Zone Hole From To Length
(m) Type(2) Ag.Eq(1)
g/t
Ag
g/t
Au
g/t
Pb
%
Zn
%
Cu
%
SMB2 SM-24-018 96.28 105.40 9.12 SUL 211 162 0.31 0.64 0.25 0.03
including 99.90 100.40 0.50 SUL 705 666 0.10 1.09 0.08 0.09
SM SM-24-018 130.60 139.20 8.60 SUL 298 215 0.29 2.02 0.20 0.07
including 130.60 132.00 1.40 SUL 440 335 0.13 3.10 0.37 0.11
and 133.65 134.65 1.00 SUL 576 476 1.02 0.42 0.25 0.25
and 137.20 139.20 2.00 SUL 558 387 0.32 5.38 0.04 0.06
SM SM-24-019 121.50 122.00 0.50 OX 143 139 0.05 0.44 0.22 -
SM SM-24-019 123.00 123.95 0.95 OX 163 124 0.43 0.44 0.51 0.01
SM SM-24-019 126.13 127.63 1.50 SUL 611 295 0.65 9.13 0.69 0.04
SM SM-24-020 65.82 69.60 3.78 OX 173 170 0.03 0.16 0.21 0.01
including 66.82 67.55 0.73 OX 483 479 0.05 0.15 0.20 0.03
NEW SM-24-020 89.70 90.20 0.50 OX 182 181 0.02 0.05 0.11 -
SM SM-24-021 94.65 95.18 0.53 OX 197 195 0.02 0.05 0.37 0.01
SM SM-24-021 98.85 99.90 1.05 OX 177 177 - 0.02 0.24 0.01
SM SM-24-022 50.33 52.10 1.77 OX 187 176 0.12 0.24 0.18 0.01
SMB2 SM-24-023 67.43 68.08 0.65 SUL 258 247 0.13 0.02 0.02 0.01
SM SM-24-024 45.55 46.05 0.50 OX 322 321 0.01 0.03 0.13 -
SM SM-24-024 49.45 50.90 1.45 OX 220 219 0.01 0.04 0.11 -
NEW SM-24-024 58.56 60.16 1.60 OX 211 210 0.01 0.05 0.14 0.01
SM SM-24-025 45.00 47.20 2.20 OX 190 176 0.16 0.88 0.36 0.01
SM SM-24-026 59.74 61.50 1.76 OX 155 88 0.74 0.56 0.12 0.02
SM SM-24-026 63.29 63.83 0.54 OX 254 253 0.01 0.10 0.16 -
NEW SM-24-026 74.15 74.65 0.50 OX 396 396 0.00 0.02 0.14 -
Table 2 – Historical Channel Sample Results (3) – San Marcos Zone
Elevation Zone Channel Width Type(2) Ag.Eq(1)
g/t
Ag
g/t
Pb
%
Zn
%
1790 SM VSM-1790-2188 0.60 SUL 755 702 1.51 0.46
1790 SM VSM-1790-2190 0.80 SUL 102 45 1.17 0.92
1790 SM VSM-1790-2193 2.60 SUL 1,344 1,255 2.88 0.44
1790 SM VSM-1790-2195 3.40 SUL 1,045 942 3.65 0.21
1790 SM VSM-1790-2198 4.50 SUL 628 598 0.93 0.18
1790 SM VSM-1790-2201 2.30 SUL 759 685 2.58 0.17
1790 SM VSM-1790-2203 2.40 SUL 442 404 1.32 0.09
1790 SM VSM-1790-2205 4.10 SUL 836 777 2.11 0.10
1790 SM VSM-1790-2208 3.50 SUL 514 484 1.10 0.00
1790 SM VSM-1790-2211 3.40 SUL 198 183 0.52 0.04
1790 SM VSM-1790-2214 0.30 SUL 277 265 0.43 0.01
1790 SM VSM-1790-2217 0.50 SUL 267 251 0.54 0.05
1804 SM VSM-1804-2191 2.35 SUL 243 220 0.52 0.30
1804 SM VSM-1804-2194 0.40 SUL 486 434 1.80 0.16
1804 SM VSM-1804-2195 2.70 SUL 766 616 4.01 1.54
1804 SM VSM-1804-2197 3.55 SUL 972 835 4.99 0.10
1804 SM VSM-1804-2199-2200 6.90 SUL 1,739 1,552 6.00 0.92
1804 SM VSM-1804-2202-2204 8.90 SUL 1,072 976 3.45 0.11
1804 SM VSM-1804-2206-2207 7.50 SUL 828 754 2.67 0.08
1804 SM VSM-1804-2208-2209 5.25 SUL 824 747 2.80 0.07
1804 SM VSM-1804-2211-2213 4.95 SUL 757 97 0.13 0.01
1804 SM VSM-1804-2214 3.50 SUL 506 464 1.57 0.00
1804 SM VSM-1804-2217 3.70 SUL 304 293 0.36 0.05
1804 SM VSM-1804-2220 0.55 SUL 1,078 1,066 0.42 0.00
1804 SM VSM-1804-2223 0.50 SUL 643 638 0.15 0.03
(1) All results in this release are rounded. Assays are uncut and undiluted. Widths are core -lengths, not true
widths. Silver equivalent: Ag.Eq g/t was calculated using commodity prices of US$22.50 /oz Ag, US$1,800 /oz
Au, US$0.94 /lb Pb, and US$1.35 /lb Zn ap plying metallurgical recoveries of 70.1% for silver and 82.8% for
gold in oxides and 79.6% for silver, 80.1% for gold, 74.7% for lead and 58.8% for zinc in sulphides. Metal
payable used was 99.6% for silver and 95% for gold in doré produced from oxides , and 95% for silver, gold,
and lead and 85% for zinc in concentrates produced from sulphides. Cut-off grades considered for oxide and
sulphide were, respectively 140 g/t Ag .Eq and 125 g/t Ag.Eq and are based on 2017 costs adjusted by the
inflation rate and include sustaining costs.
(2) Each mineralization type, Oxide (OX) or sulphide (SUL), has different assumptions, outlined in Note (1) above,
which are used to arrive at a calculated Ag.Eq g/t.
(3) Weighted average grades were calculated over the mineralized widths of each channel (Figures 1 & 2).
Sample Analysis and QA/QC Program
Silver Storm uses a quality assurance/quality control (QA/QC) program that monitors the chain of
custody of samples and includes the insertion of blanks, duplicates, and reference standards in each
batch of samples sent for analysis. The drill core is photographed, logged, and cut in half , with one
half retained in a secured location for verification purposes and one half shipped for analysis. Sample
preparation (crushing and pulverizing) is performed at ALS Geochemistry, an independent ISO
9001:2001 certified laboratory, in Zacatecas, Mexico and pulps are sent to ALS Geochemistry in
Vancouver, Canada for analysis. The entire sample is crushed to 70% passing -2 mm, and a riffle split
of 250 grams is taken and pulverized to better than 85% passing 75 microns. Samples are analyzed
for gold using a standard fire assay with Atomic Absorption Spectrometry (AAS) (Au-AA23) from a 30-
gram pulp. Gold assays greater than 10 g /t are re-analyzed on a 30 -gram pulp by fire assay with a
gravimetric finish (Au -GRA21). Samples are also analyzed using a 34 element inductively coupled
plasma (ICP) method with atomic emission spectroscopy (AES) on a pulp digested by four acids (ME-
ICP61). Overlimit sample values for silver (>100 g/t), lead (>1%), zinc (>1%), and copper (>1%) are
re-assayed using a four-acid digestion overlimit method with ICP-AES (ME-OG62). For silver values
greater than 1,500 g/t, samples are re-assayed using a fire assay with gravimetric finish on a 30-gram
pulp (Ag-GRA21). Samples with lead values over 20% are re -assayed using volumetric titration with
EDTA on a 1-gram pulp (Pb-VOL70). No QA/QC issues were noted with the results reported herein.
Review by Qualified Person and QA/QC
The scientific and technical information in this document has been reviewed and approved by Bruce
Robbins, P.Geo., a Qualified Person as defined by National Instrument 43-101.
About Silver Storm Mining Ltd.
Silver Storm Mining Ltd. holds advanced-stage silver projects located in Durango, Mexico. In August
2023 Silver Storm completed the acquisition of 100% of the La Parrilla Silver Mine Complex, a prolific
operation which is comprised of a 2,000 tpd mill as well as five underground mines and an open pit
that collectively produced 34.3 million silver -equivalent ounces betwee n 2005 and 2019. The
Company also holds a 100% interest in the San Diego Project , which is among the largest
undeveloped silver assets in M exico. For more information regarding the Company and its projects,
please visit our website at www.silverstorm.ca.
For additional information, please contact:
Greg McKenzie, President & CEO
Ph: +1 (416) 504-2024
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward Looking Statements:
Certain statements in this news release are forward -looking and involve a number of risks and
uncertainties. Such forward-looking statements are within the meaning of the phrase ‘forward-looking
information’ in the Canadian Securities Administrators’ Natio nal Instrument 51 -102 – Continuous
Disclosure Obligations. Forward -looking statements are not comprised of historical facts. Forward -
looking statements include estimates and statements that describe the Company’s future plans,
objectives or goals, includin g words to the effect that the Company or management and Qualified
Persons (in the case of technical and scientific information) expects a stated condition or result to
occur. Forward -looking statements may be identified by such terms as “believes”, “antic ipates”,
“expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward -looking statements are
based on assumptions and address future events and conditions, by their very nature they involve
inherent risks and uncertainties. Although th ese statements are based on information currently
available to the Company, the Company provides no assurance that actual results will meet
management’s expectations. Risks, uncertainties and other factors involved with forward -looking
information could ca use actual events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward -looking information. Forward -looking
information in this news release includes, but is not limited to, the future expl oration performance at
La Parrilla, the timing and extent of current and future drill programs, the ability to increase Mineral
Resources therein, and the ability to eventually place the La Parrilla Complex back into production.
In making the forward-looking statements included in this news release, the Company and Qualified
Persons (in the case of technical and scientific information) have applied several material
assumptions, including that the Company´s financial condition and development plans do not change
because of unforeseen events, that future metal prices and the demand and market outlook for metals
will remain stable or improve, m anagement’s ability to execute its business strategy and no
unexpected or adverse regulatory changes with respect to La Parrilla. Forward -looking statements
and information are subject to various known and unknown risks and uncertainties, many of which are
beyond the ability of the Company to control or predict, that may cause the Company’s actual results,
performance or achievements to be materially different from those expressed or implied thereby, and
are developed based on assumptions about such risks, uncertainties and other factors set out herein,
including, but not limited to, there being no assurance that the Company’s current and future
exploration programs will grow the Mineral Resource base or upgrade Mineral Resource confidence,
the risk that the assumptions referred to above prove not to be valid or reliable, the risk that the
Company is unable to achieve its goal of placing La Parrilla back into pr oduction; market conditions
and volatility and global economic conditions including increased volatility and potentially negative
capital raising conditions resulting from the continued or escalation of the COVID -19 pandemic, risk
of delay and/or cessation in planned work or changes in the Company’s financial condition and
development plans; risks associated with the interpretation of data (including in respect of third party
mineralized material) regarding the geology, grade and continuity of mineral deposits, the uncertainty
of the geology, grade and continuity of mineral deposits and the risk of unexpected variations in
Mineral Resources, grade and/or recovery rates; risks related to gold, silver and other commodity price
fluctuations; employee relations; relationships with and claims by local communities and indigenous
populations; availability and increasing costs associated with mining inputs and labour, the speculative
nature of mineral exploration and development, including the risks of obtaining necessary licenses and
permits and the presence of laws and regulations that may impose restrictions on mining, including
the Mexican mining reforms; risks relating to environmental regulation and liability; the possibility that
results will not be consistent with the Company’s expectations.
Such forward-looking information represents managements and Qualified Persons (in the case of
technical and scientific information) best judgment based on information currently available. No
forward-looking statement can be guaranteed, and actual future re sults may vary materially.
Accordingly, readers are advised not to place undue reliance on forward -looking statements or
information.
Figure 1: San Marcos Zone Long Section View to WSW of Key Results Current & Historical Holes
Figure 2: San Marcos Zone South Oblique View to W of Key Results Holes SM-24-018 to 023