Silver Storm Commences 6,000 Metre Drilling Campaign at La Parrilla Silver Mine Complex
Silver Storm accelerates La Parrilla restart drilling as massive warrant overhang tests market liquidity.
The most recent news release (January 14, 2026) announces the commencement of a 6,000-metre underground drilling campaign at the La Parrilla Silver Mine Complex in Durango, Mexico. This program targets the Quebradillas, San Marcos, and Rosarios mines with the objective of expanding the Indicated and Inferred Resource base to support an internal mine plan. The company is positioning this work as a critical step toward a potential restart of operations in Q2 2026. Management has also proposed an additional 4,000 metres of follow-up drilling and is planning surface exploration for seven other target areas later in the year.
The impact of this specific news is Routine - Positive. While drilling is necessary for resource definition and mine planning, it is an expected operational step for a company that has already secured financing and ordered a new mining fleet (December 2025 news). - Material confirmation: The news confirms that the company is adhering to the timeline for a Q2 2026 restart, which was first signaled in late 2025. - Resource Risk: The company is drilling to support an "internal mine plan." Investors must note that no Mineral Reserves have been established. This means the restart is being conducted without a formal Feasibility Study, which significantly increases the risk that actual production grades or costs may deviate from internal expectations. - Operational Momentum: This follows the November 2025 drawdown of the US$7.0 million Samsung offtake facility, indicating the company is now fully in the execution phase of its rehabilitation strategy.
Silver Storm Mining Ltd. (formerly Golden Tag Resources) focuses on silver assets in Durango, Mexico. Its flagship is the 100% owned La Parrilla Silver Mine Complex, acquired from First Majestic Silver in 2023. The project includes a 2,000 tpd mill, five underground mines, and an open pit. It produced 34.3 million AgEq ounces between 2005 and 2019. The company also owns the San Diego Project, which is one of the largest undeveloped silver assets in Mexico.