Profile: Silver Standard Resources Inc (SSRI.OQ)
23 Sep 2016
Silver Standard Resources Inc., incorporated on December 11, 1946, is a resource company. The Company is engaged in the operation, acquisition, exploration and development of precious metal resource properties located in the Americas. The Company operates through three segments: Pirquitas mine, Marigold mine, and Exploration and evaluation properties. The Company has over two producing mines and a portfolio of silver resource dominant projects located throughout the Americas. The Company is focused on silver production from the Pirquitas mine in Argentina and gold production from the Marigold mine in Nevada, the United States. The Company's other projects include San Lius project in Peru, Pitarrilla project in Mexico and Berenguela project in Peru.
The Pirquitas Mine property is located in the Puna de Jujena region of northwestern Argentina in the Province of Jujuy. The mine consists of semi-contiguous mineral exploitation concessions covering a total area of approximately 3,620 hectares. It also includes surface rights covering an area of approximately 7,500 hectares, which can be used for purposes, such as housing, infrastructure facilities, processing plants, waste and tailing disposal sites, and other facilities to support mining operations. It holds interest in the Pirquitas mine through its subsidiary, Mina Pirquitas, and Sunshine Argentina, Inc. It is also the freehold title holder of the area covered by the surface rights.
The Marigold mine is located in southeastern Humboldt County, in the northern foothills of the Battle Mountain Range, Nevada in the United States. The mine is situated approximately three miles south-southwest of the town of Valmy, Nevada. The plan of operations (PoO) area of the Marigold mine encompasses approximately 7,800 hectares, with approximately 2,000 hectares within the PoO permitted for mining-related disturbance. The Company acquired the Valmy property, approximately 2,840 hectare land package surrounding portions of the Marigold mine to the east, south and west. It holds interest in the Marigold mine through its subsidiary, Marigold Mining Company. The surface and mineral rights it holds at the Marigold mine, including with respect to the Valmy property, consists of certain real property, unpatented mining claims and leasehold rights to unpatented mining claims, millsite claims and certain surface lands.
The Pitarrilla project is located within the Municipality of Santa Maria del Oro and Inde on the eastern flank of the Sierra Madre Occidental mountain range in the central part of Durango State, Mexico. The project is held by its subsidiary, Silver Standard Durango, S.A. de C.V. It completed certain pre-construction activities on the Pitarrilla project, including pilot plant tests, road construction and water drilling.
San Luis Project
The San Luis project is a high-grade gold-silver project located in the Ancash Department of central Peru. The project is held by its subsidiary, Reliant Ventures S.A.C. The San Luis project includes several vein systems across an area of land whose surface rights are held by over two local communities, Ecash and Cochabamba. It drill tested a copper-molybdenum porphyry target, the BP Zone. It completed over two diamond drill holes under a drill evaluation program in an additional gold vein target, the Bonita Zone.
The Berenguela project is a mineable silver-copper-manganese project located in south-central Peru in the Department of Puno. It is continuing with conceptual engineering studies and metallurgical test work at the project to evaluate development scenarios. This work includes drilling over five metallurgical core holes and approximately six exploration core holes for a total of approximately 1,870 meters.
Silver Standard Resources Inc
1055 Dunsmuir Street Suite 800
Stn Bentall Centre
PO Box 49088
VANCOUVER BC V7X 1G4
Company Web Links
- BRIEF-Silver Standard announces deal with Diablillos and M-18 projects
- BRIEF-Silver Standard provides marigold five-year outlook
- BRIEF-Endeavour Silver signs agreement to acquire exploration properties from Silver Standard
- BRIEF-Silver Standard Q2 adjusted earnings per share $0.25
- BRIEF-Silver Standard Resources favorably resolves dispute with Canada Revenue Agency