Silver Storm Drills 516 G/T Ag.eq over 3 M Within Broader Interval of 302 G/T Ag.eq over 15 M IN Norte-SUR and Extends High-Grade Zone 180 M at Depth
NEWS RELEASE
SILVER STORM DRILLS 516 g/t Ag.Eq OVER 3 m
WITHIN BROADER INTERVAL OF 302 g/t Ag.Eq OVER 15 m IN NORTE-SUR
AND EXTENDS HIGH-GRADE ZONE 180 m AT DEPTH
Toronto, Ontario, December 2, 2024: Silver Storm Mining Ltd. (“ Silver Storm” or the "Company")
(TSX.V: SVRS | OTC : SVRSF | FSE: SVR) , is pleased to announce 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 5 holes (1,182 metres (“m”)) contained within this release are from
the Norte-Sur Zone, within the Quebradillas mine.
An overview video on the La Parrilla Project is available at:
www.youtube.com/watch?v=dybgKXcGrYo
Key highlights include:
Numerous high-grade intercepts were encountered within the Norte-Sur Zone up to 180 m beyond the
last mined levels where the following channel samples and mining widths were observed (Figures 2 &
3):
• 1749 EL graded 358 g/t Ag.Eq1 over a strike length of 51 m and an average width of 3.6 m
• 1737 EL graded 407 g/t Ag.Eq over a strike length of 28 m and an average width of 3.2 m;
however, FM had only mined ~50% of this stope when the operation was placed on care &
maintenance
The current drill results, when combined with historical holes drilled by First Majestic (“FM”),
are expected to have a positive impact on future Mineral Resources.
• Hole Q-24-040 successfully returned 516 g/t Ag.Eq over 3.00 m, 406 g/t Ag.Eq over 0.50 m,
and 592 g/t Ag.Eq over 1.00 m within a broader interval of 302 g/t Ag.Eq over 15.00 m.
• Hole Q -24-041 intersected 356 g/t Ag.Eq over 1.55 m at the previously interpreted
northwestern boundary of the Norte-Sur Zone which highlights the potential for expansion of
the zone along strike in this direction.
• Hole Q-24-042 returned 299 g/t Ag.Eq over 4.30 m including 914 g/t Ag.Eq over 0.50 m and
655 g/t Ag.Eq over 0.60 m. Prior to reaching the Norte-Sur target, this hole intersected 4.50
g/t Au over 1.00 m . Another gold -rich zone was also intersected further down the hole
returning 4.56 g/t Au over 1.39 m.
• Hole Q-24-043 successfully intersected 287 g/t Ag.Eq over 6.60 m, including 523 g/t Ag.Eq
over 1.58 m and 397 g/t Ag.Eq over 1.00 m and 491 g/t Ag.Eq over 0.55 m . These high-
grade intersections, located approximately 180 m below the last mined area within the Norte-
Sur Zone, demonstrate the potential for resource expansion at depth.
Greg McKenzie, President and CEO , commented: “Our Phase 1 & 2 high -grade drill results
demonstrate the Norte-Sur Zone extends at least 180 metres below the previous mined stopes, with
excellent lateral continuity, and remains open at depth. The distribution of high-grade drill holes in this
area, combined with channel sample results taken within previously mined stopes, provide us with
confidence in prioritizing this area for potential restart of mining activities.”
Norte-Sur Zone
The Norte-Sur Zone (NS) is a fault -vein hosted in the limestone and granodiorite stock with
replacement bodies developed in the footwall and hanging wall. It strikes northwest and dips 71 ° to
the northeast (315/71) over a known strike length of 125 m (Figure 1). The mineralization extends
vertically for 565 m and its true width varies up to 5 m. The last two levels developed at depth on the
Norte-Sur Zone returned the following composited weighted average grades from historical channel
samples, which are representative of the mineralization mined from this area:
• 1749 EL graded 358 g/t Ag.Eq over a strike length of 51 m and an average width of 3.6 m
• 1737 EL graded 407 g/t Ag.Eq over a strike length of 28 m and an average width of 3.2 m ;
however, FM had only mined ~50% of th is stope when the operation was placed on care &
maintenance
Figure 1: Cross Section View of Quebradillas Mine Towards NNW
La Estrella
C460
180 m
C1524
Location of Figure 2
surface
open pit
UTM WGS84
Zone 13 N
Last Mined Stopes per
Figure 3
Norte-Sur
Holes Q-24-040, Q-24-041, Q-24-042
Three infill holes were designed to demonstrate vertical continuity between holes Q -23-007 (324 g/t
Ag.Eq over 8.72 m, including 436 g/t Ag.Eq over 4.46 m) and ILP-Q-18-50 (479 g/t Ag.Eq over 3.85
m including 564 g/t Ag.Eq over 2.9 0 m), as well as expand the current boundary of Indicated
Resources ~100 m down-dip. The three holes are located approximately 135 m below the last mined
level in Norte-Sur.
Hole Q-24-040 successfully returned 516 g/t Ag.Eq over 3.0 0 m, 406 g/t Ag.Eq over 0.50 m, and
592 g/t Ag.Eq over 1.00 m within a broader interval of 302 g/t Ag.Eq over 15.00 m (186.60 to 201.60
m) – Table 1; Figure 2.
Hole Q -24-041 intersected 356 g/t Ag.Eq over 1. 55 m (207.9 0 to 209.45 m) at the previously
interpreted northwestern boundary of the Norte-Sur Zone which highlights the potential for expansion
of the zone along strike in this direction.
Hole Q-24-042 returned 299 g/t Ag.Eq over 4.30 m (207.00 to 211.30 m), including 914 g/t Ag.Eq
over 0.5 0 m and 655 g/t Ag.Eq over 0.60 m . Prior to reaching the Norte-Sur target, this hole
intersected 4.50 g/t Au over 1.00 m (167.05 to 168.05 m) . Another gold-rich zone was also
intersected further down the hole returning 4.56 g/t Au over 1.39 m (228.45 to 229.84 m).
Hole Q-24-043
Hole Q-24-043 was designed to test the Norte Sur Zone at depth, successfully intersecting 287 g/t
Ag.Eq over 6.60 m (242.40 to 249.00 m), including 523 g/t Ag.Eq over 1.58 m and 397 g/t Ag.Eq over
1.00 m and 491 g/t Ag.Eq over 0.55 m . Although the widths appear to be narrowing at depth, the
shallow angle of this hole to the zone (20-30 degrees) prevented it from obtaining an adequate cross-
section of the mineralization. More importantly, these high-grade intersections, located approximately
180 m below the last mined area within the Norte -Sur Zone, demonstrate the depth extension of the
mineralization which remains open at depth. The vertical continuity established by hole Q -24-043
should allow for expansion of Inferred Resources to depth. Q-24-043 is one of the deepest holes drilled
to date within the Quebradillas mine (~600 m vertical depth from surface ) exhibiting the potential to
expand mineralization at depth within all zones in the mine.
Figure 2: Longitudinal Section of Norte-Sur Zone View Towards Southwest
Table 1 – Select Assay Intervals from Holes Q-24-040 to Q-24-044 and Historical Results
Zone Hole From To Length
(m)
Ag.Eq(1)
g/t
Ag
g/t
Au
g/t
Pb
%
Zn
%
Cu
%
Q-24-040 139.00 139.45 0.45 334 153 0.22 4.87 1.19 0.04
AUZ Q-24-040 151.00 151.50 0.50 150 6 1.76 0.02 0.04 0.00
NS Q-24-040 186.60 201.60 15.00 302 57 0.06 1.04 7.81 0.06
including 186.60 189.60 3.00 516 72 0.09 1.73 14.34 0.07
and 193.30 193.80 0.50 406 14 0.08 0.16 14.00 0.07
and 196.80 197.80 1.00 592 271 0.04 4.85 6.91 0.06
NS Q-24-041 207.90 209.45 1.55 356 176 0.02 2.38 4.20 0.01
AUZ Q-24-042 167.05 168.05 1.00 386 20 4.50 0.05 0.07 0.01
NS Q-24-042 207.00 211.30 4.30 299 125 0.05 2.39 3.91 0.03
including 208.50 209.00 0.50 914 465 0.06 6.89 9.51 0.06
and 210.10 210.70 0.60 655 304 0.08 5.83 6.93 0.05
NS Q-24-042 220.10 220.75 0.65 315 9 0.13 0.02 10.85 0.04
NS Q-24-042 228.45 229.84 1.39 565 87 4.56 0.10 3.99 0.04
NS Q-24-042 238.90 239.45 0.55 288 86 0.05 0.19 7.08 0.12
NS Q-24-043 242.40 249.00 6.60 287 140 0.17 0.21 4.66 0.16
including 242.40 243.98 1.58 523 308 0.02 0.40 7.43 0.23
and 247.50 248.50 1.00 397 125 0.04 0.25 9.63 0.14
NS Q-24-043 254.15 256.30 2.15 264 105 0.05 0.09 5.61 0.26
including 254.15 254.70 0.55 491 170 0.05 0.09 11.55 0.40
NS Q-24-043 265.80 266.30 0.50 367 101 0.01 0.06 9.69 0.11
NS Q-24-043 267.65 268.15 0.50 178 78 0.03 0.07 3.51 0.12
NS Q-24-043 269.65 270.22 0.57 252 228 0.02 0.01 0.79 1.53
NS Q-24-043 281.80 284.00 2.20 190 63 0.03 0.03 4.54 0.09
including 282.40 283.00 0.60 317 107 0.04 0.04 7.55 0.16
NS Q-24-043 286.10 287.00 0.90 138 29 1.14 0.04 0.61 0.14
HISTORICAL RESULTS
NS ILP-Q-17-53 88.20 95.50 7.30 388 193 0.07 3.20 3.81 0.08
including 93.65 95.50 1.85 935 528 0.24 6.64 7.68 0.10
NS ILP-Q-17-62 79.85 81.30 1.45 260 119 0.06 2.86 2.18 0.03
NS ILP-Q-17-62 84.95 87.05 2.10 360 168 0.05 3.06 3.86 0.05
NS ILP-Q-17-63 84.00 85.00 1.00 242 105 0.09 1.80 3.01 0.06
NS ILP-Q-17-65 114.30 116.35 2.05 176 90 0.03 1.20 1.90 0.02
AUZ ILP-Q-18-07 118.35 119.10 0.75 295 79 0.94 2.65 2.55 0.04
NS ILP-Q-18-07 132.80 133.90 1.10 149 112 0.07 0.43 0.74 0.03
NS ILP-Q-18-07 147.95 150.00 2.05 418 190 0.09 4.50 3.68 0.10
NS ILP-Q-18-07 162.55 163.20 0.65 210 90 0.04 3.16 1.20 0.01
NS ILP-Q-18-15 102.75 114.35 11.60 347 114 0.10 3.05 5.28 0.08
including 105.15 105.85 0.70 642 275 0.21 8.47 4.52 0.09
and 106.90 108.10 1.20 555 294 0.07 6.33 3.15 0.04
and 110.05 110.55 0.50 784 226 0.17 7.06 13.04 0.18
NS ILP-Q-18-22 128.95 130.00 1.05 352 130 0.04 3.76 4.33 0.11
NS ILP-Q-18-22 141.60 144.95 3.35 379 134 0.38 2.11 5.78 0.04
including 142.10 143.55 1.45 647 260 0.03 4.22 9.96 0.05
NS ILP-Q-18-27 154.05 154.70 0.65 175 61 0.34 1.95 1.28 0.01
NS ILP-Q-18-27 157.00 158.65 1.65 197 89 0.14 2.31 1.25 0.01
including 157.95 158.65 0.70 329 162 0.27 3.76 1.61 0.02
NS ILP-Q-18-35 99.85 101.35 1.50 177 86 0.03 2.28 1.01 0.01
including 99.85 100.25 0.40 373 186 0.05 5.30 1.51 0.01
NS ILP-Q-18-43 140.25 140.50 0.25 219 102 0.01 2.54 1.79 0.06
NS ILP-Q-18-43 144.70 145.00 0.30 357 146 0.01 4.42 3.39 0.08
NS ILP-Q-18-50 221.20 225.05 3.85 479 203 0.07 4.60 5.41 0.07
including 222.15 225.05 2.90 564 259 0.08 4.94 6.08 0.07
Table 2 – Historical Channel Sample Results (2) – Norte-Sur Zone
Zone Channel Width Ag.Eq(1)
g/t
Ag
g/t
Pb
%
Zn
%
NS VNS-1737-16 5.70 1,096 474 11.71 11.28
NS VNS-1737-13 5.00 528 185 5.07 7.62
NS VNS-1737-10 4.30 385 156 3.26 5.17
NS VNS-1737-7 2.10 8 3 0.06 0.16
NS VNS-1737-4 2.35 484 178 4.52 6.81
NS VNS-1737-1 1.85 62 21 0.79 0.72
NS VNS-1737-02 2.25 200 67 1.73 3.19
NS VNS-1737-05 3.05 497 208 5.12 5.57
NS VNS-1737-08 2.30 429 224 4.26 3.35
NS VNS-1737-011 2.90 380 165 5.40 2.55
NS VNS-1749-018 4.00 532 284 5.22 3.94
NS VNS-1749-015 2.70 819 391 8.85 7.00
NS VNS-1749-011 3.80 288 158 3.12 1.69
NS VNS-1749-08 4.20 57 25 0.45 0.75
NS VNS-1749-05 4.00 202 104 2.02 1.62
NS VNS-1749-02 3.35 173 78 2.76 0.76
NS VNS-1749-1 4.15 280 121 3.95 1.93
NS VNS-1749-4 3.80 122 0 48.84 0.90
NS VNS-1749-7 4.05 563 214 11.32 1.63
NS VNS-1749-10 2.80 3 3 0.00 0.00
NS VNS-1749-13 3.05 304 143 3.61 2.37
NS VNS-1749-16 3.55 783 410 9.56 4.27
NS VNS-1749-19 3.80 855 413 9.51 6.87
NS VNS-1749-22 3.30 577 289 8.03 2.66
NS VNS-1749-25 3.40 90 36 1.52 0.48
NS VNS-1749-28 3.30 541 255 6.62 3.96
NS VNS-1749-31 3.80 177 72 2.40 1.48
NS VNS-1749-34 3.00 75 33 0.96 0.57
(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 applyi ng 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) Weighted average grades were calculated over the mineralized widths of each channel across the stope
(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 Mexico. For more information regarding the Com pany 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 production; market conditions
and volatility and global economic conditions including increased volat ility 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 unexp ected 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