Company: Silver X Mining Corp. Kopieren

Website: https://www.silverxmining.com/

WKN: A3CSVE Kopieren

ISIN: CA8283411079 Kopieren

Current price: €0.10

Price target: €1.50 by 12/31/2026

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WHY THIS IS A MAJOR OPPORTUNITY

Investment case | Silver X Mining

  • The measured and indicated resources of the Nueva Recuperada property increased from 3.60 million tonnes to 4.26 million tonnes (+18%) and the inferred resources of the property increased from 11.89 million tonnes to 17.18 million tonnes (+45%).
  • The Plata Mining Unit is a high-grade, historic operational target with indicated recoverable resources of 0.951 million tonnes at 6.11 ounces Ag per tonne, 4.24% Zn and 2.44% Pb.
  • The total silver content of the Plata Mining Unit in the indicated category now stands at 5.81 million ounces Ag.
  • Recoverable inferred resources of 5.394 million tonnes at 4.82 ounces Ag per tonne, 3.35% Zn and 1.98% Pb.
  • The total silver content of the Plata Mining Unit in the inferred category now amounts to 26.00 million ounces Ag.
  • The Plata Mining Unit drives considerable resource growth across the entire Nueva Recuperada property.
Silver X Mining reports a substantial increase in the mineral resource estimate for the Nueva Recuperada project, including additional high-grade resources in the Plata Mining Unit.


Junior Mining
The resource growth underscores the ongoing potential of Nueva Recuperada as a cornerstone of Silver X and is in line with the company's strategy to expand production capacity and increase the company's value.
StockWatch
The technical report includes a substantial increase in resources for the Plata Mining Unit (formerly known as Esperanza), reflecting the company's ongoing exploration success and its commitment to expanding its resource base.
Yahoo Finance
BUY NOW!

Silver X Mining Corp. WKN A3CSVE (TSX-V: AGX) (OTCQB: AGXPF) (FWB: SAGX), a rapidly growing Peruvian silver production and development company, is pleased to announce an updated mineral resource estimate for its Nueva Recuperada property in Huancavelica, Peru. This technical report complies with National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) and includes a substantial increase in resources for the Plata Mining Unit (formerly known as Esperanza), reflecting the company’s ongoing exploration success and its commitment to expanding its resource base.

Stock on the verge of a PRICE EXPLOSION!

The Nueva Recuperada property continues to position itself as one of the most important silver projects in South America. Silver X is developing an outstanding asset, a district-scale property that will be mined over several decades.

The Plata Mining Unit stands out as a high-grade project in which Silver X has succeeded in identifying 6.35 million tonnes of resources in 19 veins out of the 171 veins mapped in this area. As a producer, Silver X sees the opportunity to combine rapid production with a growing resource in a strong silver market. Nueva Recuperada will achieve rapid organic growth over the coming years.

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DETAILED INFORMATION

Updated resource based on the 2022 PEA

The updated resource estimate builds on the basis of the previously published Preliminary Economic Assessment (PEA) with an effective date of October 31, 2022. The mineral resource base according to the 2022 PEA is presented below:

The updated resource estimate underscores the considerable progress at the Plata Mining Unit, which underwent a re-evaluation and detailed reconstruction of historical datasets. The improved understanding of the geological structures has significantly enhanced the classification and estimation of the resources.

PEA RESOURCES – October 31, 2022
M tAg (g/t)AuPb (%)Zn (%)M oz AgThousand oz AuPb thousand tonnesZn thousand tonnes
Measured, total1.9480.542.131.721.195.02132.9933.3223.03
Indicated, total1.6656.780.961.461.443.0251.1924.1823.82
Measured & indicated, total3.669.591.591.601.308.04184.1857.5046.84
Inferred, total11.9152.500.311.721.7958.31119.01204.06213.32

Significant update on the Plata Mining Unit (formerly Esperanza)


The updated resource estimate underscores the considerable progress at the Plata Mining Unit, which underwent a re-evaluation and detailed reconstruction of historical datasets. The improved understanding of the geological structures has significantly enhanced the classification and estimation of the resources.

PLATA MINING UNIT – ESTIMATED RECOVERABLE MINERAL RESOURCES
M tAg (g/t)Pb (%)Zn (%)M oz AgPb thd. tonnesZn thd. tonnes
Plata, indicated0.95190.042.444.245.8123.2040.32
Plata, inferred5.39149.921.983.3526.00106.81180.72

Key points Plata Mining Unit:

    • Indicated resources: A total of 0.95 million tonnes at an average grade of 190.04 g/t Ag, representing a 100% increase in volume compared to historical estimates.
    • Inferred resources: Significant increase to 5.39 million tonnes at an average silver grade of 149.92 g/t Ag.
    • Contained silver: The contained silver resources for the Plata Mining Unit now amount to 5.81 million ounces in the indicated category and 26.00 million ounces in the inferred category.

The updated estimate underscores the strategic importance of the Plata Mining Unit within the Nueva Recuperada portfolio and its role in increasing future value for the company.
Update of the total resources, as of October 1, 2024
The following table summarizes the updated consolidated resource estimate for the Nueva Recuperada project, combining all updated data and reflecting growth across all resource categories.

UPDATED COMBINED RESOURCES – October 1, 2024
Estimated resourcesM tAg (oz/t)Au (g/t)Pb (%)Zn (%)M oz AgThd. oz AuPb thd. tonnesZn thd. tonnes
Measured, total1.852.510.9791.701.474.6558.2731.4727.22
Indicated, total2.413.870.2472.022.809.3219.1348.6567.44
Measured + indicated, total4.263.280.5651.882.2213.9777.4080.1294.65
Inferred, total17.185.120.0422.052.0487.9723.20352.17350.45
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DETAILED INFORMATION

Highlights in comparison

Property – measured and indicated resources

    • Silver (Ag): Increase from 8.04 million ounces Ag to 13.97 million ounces Ag, a gain of 73.8%.
    • Lead (Pb): Increase from 57.50 thd. tonnes to 80.12 thd. tonnes, a gain of +39.3%.
    • Zinc (Zn): Increase from 46.84 thd. tonnes to 94.65 thd. tonnes, a significant gain of 102.1%.
    • Ore tonnage: Increase from 3.60 million tonnes to 4.26 million tonnes, a gain of 18.3%.
    • Silver grade: Increase from 2.24 ounces per tonne to 3.28 ounces per tonne, a gain of +46.6%.

Property – inferred resources

    • Silver (Ag): Increase from 58.31 million ounces Ag to 87.97 million ounces Ag, a gain of 50.9%.
    • Lead (Pb): Increase from 204.06 thd. tonnes to 352.17 thd. tonnes, a gain of 72.6%.
    • Zinc (Zn): Increase from 213.32 thd. tonnes to 350.45 thd. tonnes, a gain of 64.3%.
    • Ore tonnage: Increase from 11.89 million tonnes to 17.18 million tonnes, a gain of +44.6%.
    • Silver grade: Slightly increased from 4.9 ounces per tonne to 5.12 ounces per tonne, but remains nearly stable.

The resource growth highlights the ongoing potential of Nueva Recuperada as a cornerstone of Silver X and is in line with the company’s strategy to expand production capacity and increase shareholder value.

Overview of the Plata Mining Unit (PMU):

The Plata Mining Unit is strategically located, just 15 km from the Nueva Recuperada processing plant, which provides important operational and logistical support, including energy and access to established infrastructure.

PMU benefits from a robust logistics network with roads crossing the property and ensuring seamless connectivity.

Location map Plata Mining Unit

An easement agreement covering 1,000 hectares, valid until 2039, further enhances the company’s long-term operational stability. PMU comprises 8 royalty-free mining concessions with a total area of 4,228.5 hectares.

Concessions and veins of the Plata Mining Unit

Over 120 km of 19 mineralized veins in the Plata Mining Unit have been mapped in the past and over 170 individual veins identified within the concessions, demonstrating the extensive resource potential. The historical data density is remarkable, with over 13,475 channel samples taken from underground mining areas, and 267 diamond core drill holes, including 2,298 surface rock chip samples and 8,809 underground channel samples.

Insights into exploration and resources

The historical exploration work in the Plata Mining Unit focused on the Esperanza 2001 vein, where high-grade mineralization runs subvertically to the west. The vein remains open at depth, with only limited exploration work carried out below the 520 level (only three levels were developed). In the last year of historical operation (2013), gold analyses were carried out on samples from some of the explored veins, the results of which were very similar to those at Tangana. Antimony is found in large quantities in at least two of the nine Plata subsectors. The Plata Mining Unit has extensive exploration potential that remains to be investigated, including porphyry and dome systems with disseminated and stockwork mineralization.

Resources of the Plata Mining Unit by main sectors

Future work will focus primarily on expanding the lateral and depth extension of the resource. The vein was historically mined using selective methods, with cutoff grades exceeding 16 ounces AgEq per tonne.

Cautionary note regarding production without mineral reserves

The decision to commence production at the Recuperada project and the company’s ongoing mining activities referred to herein (the production decision and the activities) are based on economic models prepared by the company in conjunction with management’s knowledge of the property and the existing inferred mineral resource estimate at the property. The production decision and the activities are not based on a preliminary economic assessment, a pre-feasibility study, or a feasibility study of the mineral reserves demonstrating economic and technical feasibility. Accordingly, there is increased uncertainty and economic and technical risk of failure associated with the production decision and the activities, in particular the risk that mineral grades are lower than expected; the risk that additional construction work or ongoing mining work is more difficult or more expensive than expected, and that the production variables and economic variables may fluctuate significantly due to the absence of an NI 43-101-compliant detailed economic and technical analysis.

Qualified Person

Mr. A. David Heyl, B.Sc., C.P.G., who is a qualified person pursuant to NI 43-101, has reviewed and approved the technical content of this press release for Silver X. With over 35 years of experience in the field and in upper management, Mr. Heyl has a solid geological background in the design and execution of exploration and mining programs for gold, rare earth metals and base metals, which led to several discoveries. Mr. Heyl has 20 years of experience in Peru. He worked for Barrick Gold, was exploration manager for Southern Peru Copper, and spent more than twelve years working at and supervising operating underground and open-pit operations in North and South America. Mr. Heyl is an independent consultant for Silver X.

About Silver X Mining Corp.

Silver X is a rapidly growing silver production and development company. The company owns the 20,472 ha Nueva Recuperada project in central Peru and produces silver, gold, lead and zinc at its Tangana mining operation. Silver X is building a first-class silver company that aims to deliver outstanding value to all stakeholders by consolidating and developing undervalued assets, adding resources and increasing production, while striving to support the communities that support us and protect the environment. The current production, coupled with immediate development and brownfield expansion opportunities, offers investors the chance to invest in the early stage of a silver producer with strong growth prospects.

Company: Silver X Mining Corp. Kopieren

Website: https://www.silverxmining.com/

WKN: A3CSVE Kopieren

ISIN: CA8283411079 Kopieren

Current price: €0.10

Price target: €1.50 by 12/31/2026   

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