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Summa Silver Corp (SSVR)

TSXV
Currency in CAD
Disclaimer
0.39
-0.02(-4.88%)
Closed

SSVR Comments

Highly positive results reported from the latest news at Mogollon. So far, the drill program has shown significant mineralization around the old mines of Mogollon with strong silver and gold assays returned from holes in both directions. More importantly work here is just beginning with promising data shown in newest release from the first target representing only 1% of the total vein.
SSVR flagship Mogollon was the focus at yesterday's Grizzle Commodity conference where CEO Galen McNamara shared some drilling results incl highlights on the Queen Vein discovery, a high-grade mineral-rich zone with 66% mineralization. Assays are pending following completion of drilling for the season but a Fall campaign is planned.
SSVR's completed Mogollon drill program has 7 pending holes that show visible sulfide mineralization. Their next program at the Hughes property will start in 3 weeks and test 5 targets. SSVR is fully funded for year-round exploration and their next drill phase around known mineralization and their early-stage targets aim to outperform peers.
Looking forward to results from the announced spring drill program starting in early May at SSVR's Hughes project which includes the Ruby Discovery and 4 new targets. From the recent NR this program will include reverse circulation and core drilling in at least 7 holes testing 5 targets (incl Ruby). Focus is on testing previously undrilled epithermal vein targets.
Again, the impressive discoveries at Mogollon reveal thick intersections of high-grade to bonanza-grades of silver equivalent. Not only high grades, but there's continuity which is important in ensuring a profitable mine. The banding in the drill cores also indicate a long-lived mineralizing system which is exactly what you want in an epithermal system. Outside of Mogollon there's also high-potential in their development of the Hughes project. Looking forward to the Mogollon assay results!
I thought the recent SSVR presentation from the Green Future Conference that happened earlier this week featured a great segment on the company where Galen discussed what's going on underground at their flagship high-grade projects in NM and NV. Personally I was impressed with the way they visualized the grades.
SSVR has been making progress with their high-grade historic silver projects in Nevada and New Mexico. Check out the latest presentation where CEO Galen McNamara discusses their latest with an overview on their strong capital, experience team and promising drill results. Furthermore, this presentation has valuable information on the Ruby target with potential to extend the Tonopah district further amplifying their strong potential
Excited to see the high-grade silver and gold results from Summa Silver Corp's Mogollon Project. Strong mineralization was found in 11 holes, with the Queen Vein showing continued high-grade nature and grade continuity. CEO Galen McNamara has big plans for long-term presence in the area. I'm keeping a close eye on this development.
Just watched the replay for the recent 6ix hosted expert panelist discussion titled “Silver’s Turning Tide - Deficit and Perfect Macro Setup.” The replay is available on YT by that title. This conversation had Summa Silver’s CEO, Galen McNamara and fellow CEOs Dolly Varden and Blackrock discussing the perfect storm facing silver where domestic supply becomes an even more important theme in their work. Quoted from the replay, solar demand for silver is set to triple in the next 4-5 years which will make up 30% of the market alone.
CEO Galen McNamara discusses Sprott's continued confidence in the company in a new interview with WallStreetSilver following the recently closed financing that raised $10M+ and led by a $3M Sprott investment. Funds will be used to aggressively drill projects targeting silver mineralization and take financing pressure off.
Sprott's continued support and the commodity market finally showing signs of significant upward momentum could make this an interesting story this year especially with the $10M cash they just raised.
Following a successful $10M private placement led by a $3M Sprott investment, Summa Silver is on the cusp of a breakout with ongoing drilling at the high grade silver-gold Mogollon project which to date has intercepted high-grade silver and gold in all 6 holes drilled. I’ve been looking into SSVR’s Mogollon project, a famous past producing mine in New Mexico with at least 16.4Moz Ag and 339 koz Au producing grades of 298 g/t Ag and 6.16 g/t Au up until 1942. Historical work only focused on the surface and currently with extensive undrilled high-grade mineralization remaining at surface with plans to go deeper, potential with this is very strong.
SSVR is creating significant value through discovery. Currently drilling two famous high-grade past producers with excellent results to date and have large scale ounce potential while leveraging silver and gold prices. Substantial drilling is planned with upcoming resources forthcoming. High levels of insider support and a recently closed $10M private placement led by $3M Sprott investment doesn’t hurt either.
I’m pretty enthusiastic about the recent success of SSVR’s private placement offering that generated gross ~$10.3M and led by a Sprott investment of $3M+. Strong case of following the money on this one, but their continued work at both sites are continually showing high potential with recent Mogollon results (drilling will complete by end of Feb with assay results to closely follow) showing strong zones of visual mineralization and continues to be open to further expansion.
The $10M raise right at the end of the year shows that these guys are getting ready for a big 2023. Perfect timing, considering the continued commodity recovery after a rough few months. Looking forward to seeing the results they can pull from the Mogollon drill program.
Summa probably has the 2 highest grade properties for any exploration company with a valuation under $100M. Great results from the Mogollon so far, so I'm excited to see what else they can produce in the coming months.
In case you missed it, there‘s a webinar today that features $BRC (shares a border with $SSVR’s property), $HAMR, and of course, $SSVR. They'll have a panel discussion to talk about the benefits of being a silver investor during turbulent economic and political times. Check it out: https://webinars.6ix.com/6ix/Silver-The-Jack-of-All-Trades-Metal
Still stoked about the seriously solid updates from the Mogollon property.6/6 holes have intersected zones of intermittent quartz-carbonate veining with local concentrations of silver-bearings. The Queen (Mogollon) vein is averaging about 30m width with a historical average of 506 AgEQ. Check out this new podcast from Mining Stock Daily with SSVR CEO Galen McNamara sharing his editorials on the latest drill results and his thoughts on the recent moves in precious metals and why he believes the silver market is about to move higher and quickly. Google - Mining Stock Daily Summa Silver Exploration Update from Mogollon
silver/gold Mogollon property. All 6/6 holes have intersected zones of intermittent quartz-carbonate veining with local concentrations of silver-bearings. The Queen (Mogollon) vein is averaging about 30m width with a historical average of 506 AgEQ. Recent updates from Mogollon have been very positive and I wouldn’t be surprised if this project is promoted to main status.
Solid update from Summa Silver today about their high-grade silver/gold Mogollon property. Highlight being 6/6 holes have intersected 17-50m zones of intermittent quartz-carbonate veining and brecciation with local concentrations of silver-bearings. Check the full announcement online.
SSVR continues to breakout exceeding the $1.20 mark and paving a way toward a next projected breakout of $1.50. Now additionally backed by $4M insider buying happening over the past week, there’s a lot to be excited about for the next update from their Mogollon high-grade silver project, accelerated by $11.5M financing backed by Sprott money.
Current breakout reaching ATH’s at $1.20 pave the way for the following breakout project at $1.50 - give it a week or 2 with consolidation and the next blockbuster update at Mogollon. In addition to their goal of 50 holes at the Mogollon high-grade silver project, they’re also working on their Hughes/Tonopah asset.
Summa Silver’s recently closed $11.5M financing means a ramped-up drill program starting with accelerated drilling at their Mogollon high-grade silver project. With a second diamond drill rig operating on site and progress toward a goal of drilling 50 holes at consolidated in 2022, there’s lots to get behind and hyped about this update. Window for a solid chance to buy in before they return to all time highs is narrowing.
Summa Silver announces the closing of its high-profiled private placement with proceeds at $11.5M, previously upsized from $6M to $10M - this capital puts $SSVRF in a strong position to aggressively drill their 2 high-grade silver projects. Eric Sprott owns approximately 17.7% of the company.
Summa Silver breaking out (again) closing just under 200 day MA. Let’s hold above the breakout this time around! Make sure to tune into the presentation at the 2022 GCFF Virtual Conference’s Precious Metals Day tomorrow (Thursday, Feb 10) at 11AM. SSVR CEO, Galen McNamara will be there and no doubt will discuss the impact of the upsized financing led by the Sprott family and First Majestic Silver.
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