Mexico has long held a dominant position in the global silver mining industry, consistently ranking as the world’s top silver-producing country.
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With a rich geological endowment and centuries of mining history, the country is home to some of the most prolific silver belts on the planet, including the renowned Faja de Plata. This mineral-rich corridor stretches across northern and central Mexico and hosts numerous world-class deposits that have attracted major international mining companies. The combination of favourable geology, established infrastructure, and a stable regulatory environment continues to make Mexico a premier destination for silver exploration and development.
[This article is disseminated in partnership with Southern Silver Exploration Corp. It is intended to inform investors and should not be taken as a recommendation or financial advice.]Southern Silver Exploration Corp. (TSXV:SSV) is steadily carving out its place among the most compelling silver-focused exploration and development companies in the Americas. With a solid emphasis on discovering and advancing world-class mineral deposits, the company’s flagship asset—the 100 per cent-owned Cerro Las Minitas (CLM) project in Durango, Mexico—stands as a testament to its vision and technical strength.
Located in the prolific Faja de Plata, or “Belt of Silver,” CLM is surrounded by some of Mexico’s most significant silver deposits, including Peñasquito, Los Gatos, San Martin, Naica, and Pitarrilla. As currently modeled, the project features a large-scale underground mining operation with robust economics and high gross revenues, all within a mining-friendly jurisdiction in southeast Durango.
The 2024 Preliminary Economic Assessment (PEA) outlines a 17-year life-of-mine plan that positions CLM as one of the largest and highest-grade undeveloped silver projects in the world. The project boasts an indicated resource of 116 million ounces of silver equivalent at an average grade of 271 g/t AgEq, and an inferred resource of 186 million ounces at 248 g/t AgEq. These figures underscore the scale and quality of the deposit.
Recent exploration success has further strengthened the project’s potential. In late 2024, Southern Silver completed a six-hole, 2,395-metre “proof-of-concept” drill program targeting projections the South Skarn deposit. The results were impressive, extending mineralization both laterally and at depth.
Highlights from hole 24CLM-198 include:
- 8.9 metres averaging 222 g/t AgEq, including:
- 0.5 metres averaging 154 g/t Ag, 0.2 g/t Au, 5.6 per cent Cu and 0.1 per cent Zn (834 g/t AgEq)
- 4.0 metres averaging 81 g/t Ag, 0.2 g/t Au, 0.1 per cent Cu, 0.4 per cent Pb and 3.9 per cent Zn (267 g/t AgEq)
Gold-enriched zones were also encountered in the hanging wall:
- 0.9 metres averaging 124 g/t Ag, 5.2 g/t Au and 4.0 per cent Pb (682 g/t AgEq)
- 5.1 metres averaging 7 g/t Ag and 1.8 g/t Au (167 g/t AgEq)
Hole 24CLM-199 intersected a 3.5-metre sulphide skarn zone approximately 175 metres from the intercepts in CLM-198, further confirming the lateral continuity of the mineralized system. These results not only validate the geological model but also highlight the potential for continued resource growth.
“This recent drilling successfully demonstrates both the lateral and down dip extensions of relatively shallow mineralization around the South Skarn deposit,” the company’s Vice President of Exploration, Rob Macdonald explained in a news release on these results. “Similar shallow targets are identified around both the Bocona and North Felsite deposits. Mineralization also remains open at depth, particularly on the eastern side of the Cerro which with further exploration, can continue to add high margin mineralization early in the modelled production scenario.”
While Cerro Las Minitas remains the cornerstone of Southern Silver’s portfolio, the company is also expanding its footprint in the region. In early 2025, Southern Silver signed a letter agreement with La Cuesta International, S.A. de C.V. to acquire the Nazas exploration project, also located in Durango. This acquisition represents a bold move into a highly prospective area just 15 kilometres east of Endeavour Silver’s Pitarrilla deposit—one of Mexico’s largest undeveloped silver resources.
Under the terms of the agreement, Southern Silver can earn a 100 per cent interest in the Nazas project by making pre-production cash payments totalling US$130,000 over 36 months, with US$25,000 payable every six months. The company must also complete a minimum of 8,000 metres of drilling over four years and reimburse US$25,000 in concession taxes. The project is subject to a net smelter return (NSR) royalty structure, which can be reduced by half once cumulative payments reach US$10 million.
The Nazas property spans 21.89 square km. across five claims and is accessible by road from the city of Durango. It lies within the same geological corridor as Pitarrilla and features similar host stratigraphy and mineralizing systems, offering high potential for epithermal vein, porphyry, and replacement-style deposits.
Modern exploration at Nazas began in the mid-1990s and continued through the mid-2010s, resulting in a rich dataset that includes geological mapping, geochemical sampling, geophysical surveys, and 18 drill holes totalling 4,070 metres. Seven distinct targets have been identified, with multiple epithermal vein systems showing gold-enriched halos up to 60 metres wide. Historic drilling at the Yerbabuena and Santa Rita targets returned anomalous gold and silver values over tens of metres, while the Yescas prospect revealed deeper base-metal-enriched mineralization associated with quartz-feldspar intrusions—similar to those at Pitarrilla.
Southern Silver plans to validate this historic data and refine its geological model ahead of a planned drill program in Q4 2025. To support this effort, the company has also signed a consulting agreement with La Cuesta International, Inc., which will provide technical advisory services across its Mexican projects. In exchange, Southern Silver will issue 100,000 common shares, subject to TSX Venture Exchange approval.
As Southern Silver continues to advance Cerro Las Minitas toward development and unlocks the potential of the Nazas project, it offers investors a rare combination of scale, grade, and growth. With full ownership of its flagship asset, a strong treasury, and a clear path to value creation, the company is well-positioned to benefit from rising silver and base metal prices.
For investors seeking exposure to high-quality silver-polymetallic assets in a proven jurisdiction, Southern Silver Exploration Corp. deserves your close attention.
The company’s stock has risen nearly 30 per cent since this year began, and its disciplined approach to exploration, topline acquisitions, and commitment to ESG principles make it a standout in the junior mining sector. Now is the time for investors to deepen their due diligence and consider the long-term potential Southern Silver brings to the table.
With a clear path to development, a robust resource base, and growth through acquisition, Southern Silver is well-positioned to deliver significant value to shareholders in the coming years.
To keep up with the latest developments from the company, visit southernsilverexploration.com.
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