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Investor Perception
Silver Greenback Sources is repositioning its flagship La Joya silver-gold-copper challenge to unlock high-grade underground potential in Mexico’s prolific Durango-Zacatecas silver belt. Strengthened by the all-share sale of its Ranger-Web page challenge to Bunker Hill Mining, the corporate gives traders leveraged publicity to near-term silver (zinc-lead) manufacturing in Idaho’s Silver Valley, whereas remaining absolutely funded to advance exploration throughout its core portfolio by 2026.
Overview
Silver Greenback Sources (CSE:SLV,OTCQX:SLVDF,FSE:4YW) is a treasured metals exploration firm centered on advancing high-grade silver and gold alternatives in Mexico. The corporate’s main asset is the La Joya silver-gold-copper challenge, positioned within the southern portion of the Durango-Zacatecas silver belt, one of many world’s best silver areas.
La Joya has been the topic of intensive historic exploration, together with greater than 51,600 meters of drilling throughout 182 drill holes. This work outlined a number of mineralized zones, together with the Primary Mineralized Development, Santo Niño and Coloradito. Silver Greenback is re-evaluating the challenge with an underground-focused exploration mannequin, supported by structural evaluation, underground sampling and reassessment of historic drill core to determine higher-grade targets at depth.
The corporate additionally owns the Nora silver-gold challenge in Durango, Mexico, which hosts the historic Sweet mine and epithermal vein system that has returned high-grade floor sampling outcomes. As well as, Silver Greenback holds an fairness place in Bunker Hill Mining following the sale of the Ranger-Web page challenge, offering fairness publicity to the deliberate manufacturing restart in Idaho’s Silver Valley within the first 2026.
Silver Greenback is supported by an skilled administration and technical group with experience in underground exploration, epithermal techniques and challenge analysis. With a powerful treasury, energetic exploration applications and a number of upcoming catalysts, the corporate is positioned to ship exploration progress by 2026.
Firm Highlights
- one hundred pc owned La Joya challenge, an advanced-stage silver-gold-copper system in Mexico’s Durango-Zacatecas silver belt
- La Joya was initially proposed as an open pit in 2013 primarily based on US$24 silver, US$1,200 gold and US$3 copper
- Strategic shift towards evaluating La Joya’s high-grade underground potential supported by new 3D geological modeling, underground sampling, and drill goal improvement
- Accomplished sale of the Ranger-Web page challenge to Bunker Hill Mining, offering fairness publicity to a near-term US silver producer
- Totally funded to hold out deliberate exploration applications by 2026
- Largest shareholder is mining investor Eric Sprott, with roughly 17.5 % possession
- A number of exploration catalysts deliberate, together with drilling at La Joya in early 2026
Key Tasks
La Joya Silver-Gold-Copper Challenge
The La Joya challenge is Silver Greenback’s one hundred pc owned flagship asset. It’s positioned inside the Durango-Zacatecas silver belt, which hosts quite a few past-producing and working mines, together with belongings operated by First Majestic Silver, Grupo México, Industrias Peñoles and Pan American Silver.
Historic exploration at La Joya outlined a number of zones of mineralization, together with the Primary Mineralized Development, Santo Niño and Coloradito, with mineralization occurring as skarn, substitute and vein-style techniques. Earlier work was largely oriented towards evaluating open-pit potential.
Silver Greenback is advancing a reinterpretation of La Joya as a possible high-grade underground system. Latest work contains:
- Underground sampling from historic workings, returning values of as much as 2,753 grams per metric ton (g/t) silver equal
- Identification of the Central Dyke zone over roughly 770 meters, together with a pattern returning 3,513 g/t (~124 oz/ton) silver
- Discovery of the Brazo zone, positioned roughly 1 kilometer west of the Primary Mineralized Development, with Section II drilling returning as much as 451 g/t silver over 5 meters
- The Brazo Zone supplies proof of deeper, high-grade mineralization at La Joya
- Improvement of recent 3D geological fashions is in progress incorporating the massive database of structural, geochemical and fault-kinematic evaluation
Silver Greenback plans to advance a brand new part of drilling at La Joya within the first quarter of 2026, with a concentrate on testing high-grade underground targets recognized by current modeling and sampling.
Nora Silver-Gold Challenge
The Nora challenge is positioned in Durango, Mexico, inside the similar regional silver development as a number of main operations. The property hosts an epithermal vein system often called the Sweet vein.
Geological mapping and floor sampling have returned high-grade gold, silver and base steel values, together with samples grading as much as 29.61 g/t gold and a couple of,215 g/t silver, together with regionally elevated copper, lead and zinc values.
In 2025, Silver Greenback recognized the North Canyon zone, positioned roughly 1.5 kilometers north of the historic Sweet mine. Channel sampling returned 162 g/t silver equal over 12.48 meters inside a broad oxidation zone. Ongoing mapping and trenching are getting used to outline drill targets for potential drill testing within the first quarter of 2026.
Ranger-Web page Challenge (Offered)
Silver Greenback acquired the Ranger-Web page silver-lead-zinc challenge in Idaho’s Silver Valley in August 2024 and agreed to promote the asset to neighbor Bunker Hill Mining in October 2025 for C$3.5 million, payable by the issuance of 23,333,334 Bunker Hill shares at a deemed value of C$0.15 per share. The sale closed in December and the worth of these Bunker Hill shares on the time of closing was roughly $5.8 million.
The Ranger-Web page challenge is geologically contiguous with the Bunker Hill mine system. The transaction supplies Silver Greenback with fairness publicity to Bunker Hill’s deliberate manufacturing restart within the first half of 2026. Teck Sources owns ~32 % of Bunker Hill and has life-of-mine off-take settlement for one hundred pc of the zinc and lead manufacturing. Silver Greenback expects Bunker Hill to obtain elevated analyst protection and a better valuation subsequent yr as manufacturing commences.
Crimson Lake Space Properties
Silver Greenback additionally holds two one hundred pc owned gold grassroots exploration properties in Ontario’s Crimson Lake mining division: Pakwash Lake and Longlegged Lake. Early-stage work has included airborne magnetic surveys, geological mapping and floor sampling, figuring out structural and geophysical targets related to the Pakwash Lake Fault Zone.
Whereas not a main focus, the properties present optionality in a well-established gold district with main Kinross Gold discovery drilling on the Dixie Halo property that adjoins each properties to the north.
Administration Group
Gregory Lytle — President, CEO and Director
Gregory Lytle has greater than 20 years of expertise advising mineral exploration corporations on company technique, capital markets and communications. Previous to turning into CEO in 2025, Lytle served as a advisor to Silver Greenback and has facilitated greater than $100 million in financings for mining-sector purchasers.
J.J. (Jeff) Smulders — CFO, Company Secretary and Director
Jeff Smulders has greater than 45 years of expertise in accounting, taxation and monetary administration. He has offered monetary consulting companies to private and non-private corporations for greater than 25 years.
Bruce MacLachlan — Impartial Director
Bruce MacLachlan is an exploration skilled with greater than 4 a long time of expertise throughout grassroots and advanced-stage initiatives. He has labored with corporations together with Noranda, Hemlo Gold, Battle Mountain and Noront.
Guillermo Lozano-Chávez — Impartial Director
Guillermo Lozano-Chávez is a geologist with greater than 40 years of expertise in exploration and mine administration throughout the Americas. He beforehand served as vp of exploration at First Majestic Silver.
Dale Moore — Exploration Supervisor and Certified Individual
Dale Moore is an underground-focused geologist with greater than a decade of expertise in Idaho’s Coeur d’Alene Mining District. His work contains main deposits equivalent to Fortunate Friday and the Galena Complicated, and he leads technical work at La Joya.
Mark Malfair — Nation Supervisor, Mexico
Mark Malfair is a bilingual geologist with greater than 25 years of expertise in exploration and challenge administration in Mexico, together with earlier work at Chesapeake Gold’s Metates challenge.
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