# NI 43-101 Technical Report Preliminary Economic Assessment of the Cerro Las Minitas Project, Durango State, Mexico, Effective Date Source Brief: https://evesgoldminers.com/research/source-briefs/southern-silver-exploration-corp-ni-43-101-technical-report-preliminary-economic-62659930 Original source: https://southernsilverexploration.com/site/assets/files/4232/ssv_ni43101_tech_rpt_clm_2022.pdf EGM generated: 2026-09-27 Company: Southern Silver Exploration Corp. (SSV) ## Use Note This is the Eve's Gold Miners normalized Markdown copy of an official or regulatory public source. It is provided for readability, search discovery, and research resilience. The original source remains authoritative for legal, regulatory, and investment decisions. ## Extracted Document Text # NI 43-101 Technical Report Preliminary Economic Assessment of the Cerro Las Minitas Project, Durango State, Mexico, Effective Date Source: https://southernsilverexploration.com/site/assets/files/4232/ssv_ni43101_tech_rpt_clm_2022.pdf Fetched: 2026-09-12T07:10:19.518+00:00 Source artifact: 62659930-a593-451d-b5c1-5bcaad8a8d8c Normalizer input: text ## Content # NI 43-101 Technical Report Preliminary Economic Assessment of the Cerro Las Minitas Project, Durango State, Mexico, Effective Date M3-PN210405 Effective Date: August 29, 2022 Issue Date: October 13, 2022 Revision 0 Cerro Las Minitas Project NI 43-101 Technical Report Preliminary Economic Assessment of the Cerro Las Minitas Project, Durango State, Mexico Daniel Roth, P.E., P. Eng. (M3) Garth Kirkham, P.Geo. (KGL) Laurie Tahija, QP-MMSA (M3) Arthur Barnes, P.Eng. FSAIMM (MPC) Richard Zimmerman, SME-RM (M3) Jason Allen, P.Eng. (Entech) Prepared For: C ERRO L AS M INITAS P ROJECT NI 43-101 T ECHNICAL R EPORT – P RELIMINARY E CONOMIC A SSESSMENT DATE AND SIGNATURES PAGE The effective date of this report is August 29, 2022. See Appendix A, of the NI 43-101 Technical Report Preliminary Economic Assessment Contributors and Professional Qualifications, for certificates of qualified persons. These certificates are considered the date and signature of this report in accordance with NI 43-101. M3-PN210405 13 October 2022 Revision 0 ii C ERRO L AS M INITAS P ROJECT NI 43-101 T ECHNICAL R EPORT – P RELIMINARY E CONOMIC A SSESSMENT CERRO LAS MINITAS PROJECT NI 43-101 TECHNICAL REPORT TABLE OF CONTENTS SECTION PAGE DATE AND SIGNATURES PAGE .........................................................................................................................................II TABLE OF CONTENTS ........................................................................................................................................................III LIST OF FIGURES AND ILLUSTRATIONS ...................................................................................................................... VIII LIST OF TABLES .................................................................................................................................................................. X 1 SUMMARY.............................................................................................................................................................. 1 1.1 PROPERTY DESCRIPTION ........................................................................................................................... 1 1.2 GEOLOGY .................................................................................................................................................. 1 1.3 EXPLORATION AND DRILLING ..................................................................................................................... 2 1.4 MINERAL PROCESSING AND METALLURGICAL TESTING .............................................................................. 2 1.5 MINERAL RESOURCE ................................................................................................................................. 3 1.6 MINING METHODS ...................................................................................................................................... 5 1.7 RECOVERY METHODS ................................................................................................................................ 6 1.8 PROJECT INFRASTRUCTURE....................................................................................................................... 7 1.9 MARKET STUDIES ...................................................................................................................................... 7 1.10 ENVIRONMENTAL ....................................................................................................................................... 8 1.11 CAPITAL AND OPERATING COSTS .............................................................................................................. 8 1.12 ECONOMIC ANALYSIS ................................................................................................................................ 9 1.13 CONCLUSIONS AND RECOMMENDATIONS ................................................................................................. 10 2 INTRODUCTION .................................................................................................................................................. 11 2.1 SOURCES OF INFORMATION ..................................................................................................................... 11 2.2 QUALIFIED PERSONS AND PERSONAL INSPECTIONS ................................................................................. 11 2.3 ABBREVIATIONS ...................................................................................................................................... 12 3 RELIANCE ON OTHER EXPERTS ..................................................................................................................... 14 4 PROPERTY DESCRIPTION AND LOCATION ................................................................................................... 15 4.1 MINERAL TENURE .................................................................................................................................... 15 4.2 PERMITTING............................................................................................................................................. 19 4.3 ENVIRONMENTAL AND SOCIOECONOMIC................................................................................................... 20 5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY............... 21 5.1 ACCESSIBILITY ........................................................................................................................................ 21 5.2 CLIMATE .................................................................................................................................................. 21 M3-PN210405 13 October 2022 Revision 0 iii C ERRO L AS M INITAS P ROJECT NI 43-101 T ECHNICAL R EPORT – P RELIMINARY E CONOMIC A SSESSMENT 5.3 LOCAL RESOURCES AND INFRASTRUCTURE ............................................................................................. 22 5.4 PHYSIOGRAPHY ....................................................................................................................................... 22 5.5 WATER RESOURCES................................................................................................................................ 22 6 HISTORY .............................................................................................................................................................. 23 6.1 SGS METALLURGICAL REPORT ............................................................................................................... 24 6.2 HISTORICAL RESOURCES......................................................................................................................... 25 7 GEOLOGICAL SETTING AND MINERALIZATION ............................................................................................ 26 7.1 MINITAS MINING DISTRICT GEOLOGY ....................................................................................................... 29 7.2 PROPERTY GEOLOGY .............................................................................................................................. 32 7.3 STRUCTURE............................................................................................................................................. 34 7.4 ALTERATION ............................................................................................................................................ 35 8 DEPOSIT TYPES ................................................................................................................................................. 37 8.1 SKARNOID ............................................................................................................................................... 37 8.2 CHIMNEY ................................................................................................................................................. 38 8.3 MANTO .................................................................................................................................................... 38 8.4 DYKE MARGIN ......................................................................................................................................... 38 9 EXPLORATION .................................................................................................................................................... 39 9.1 EXPLORATION ON THE CERRO LAS MINITAS PROPERTY ........................................................................... 39 9.2 EXPLORATION ON THE CLM WEST AND CLM EAST CLAIMS ..................................................................... 42 9.3 EXPLORATION ON THE EL SOL CLAIM ...................................................................................................... 45 10 DRILLING ............................................................................................................................................................. 46 10.1 DRILLING ON THE EL SOL CLAIM .............................................................................................................. 61 11 SAMPLE PREPARATION, ANALYSES AND SECURITY ................................................................................. 63 11.1 CHAIN OF CUSTODY ................................................................................................................................. 63 11.2 QUALITY ASSURANCE AND QUALITY CONTROL ........................................................................................ 63 11.3 COMMENTS.............................................................................................................................................. 69 12 DATA VERIFICATION.......................................................................................................................................... 70 13 MINERAL PROCESSING AND METALLURGICAL TESTING .......................................................................... 71 13.1 METALLURGICAL TESTING OVERVIEW ...................................................................................................... 71 13.2 2017-18 BCR TESTWORK ....................................................................................................................... 71 13.3 2018 SEQUENTIAL FLOTATION TEST ON SKARN FRONT FOR COPPER REMOVAL ...................................... 72 13.4 2019 LOCKED CYCLE TESTING ................................................................................................................ 73 13.5 VARIABILITY TESTING .............................................................................................................................. 76 13.6 2021 SEQUENTIAL FLOWSHEET TESTING ON LA BOCONA (BESS-TYPE) MINERALIZED MATERIAL ........... 78 M3-PN210405 13 October 2022 Revision 0 iv C ERRO L AS M INITAS P ROJECT NI 43-101 T ECHNICAL R EPORT – P RELIMINARY E CONOMIC A SSESSMENT 13.7 ARSENOPYRITE REJECTION FROM ZINC- IMPLICATIONS FOR AU RECOVERY. ............................................ 79 13.8 2021 LA BOCONA HIGH AU OXIDE MINERALIZED MATERIAL CYANIDATION TESTING ................................ 80 13.9 METALLURGICAL DATA FROM BCR TESTWORK ....................................................................................... 80 14 MINERAL RESOURCE ESTIMATES .................................................................................................................. 88 14.1 INTRODUCTION........................................... 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