Silver Company Illuminates Development Plans

Silver Hammer Mining Corp. (HAMR:CSE; HAMRF:OTCQB FWB: 7BW0) has released an overview of its three projects, Silver Strand, Eliza, and Silverton, and details on how the data collected during previous exploration programs will inform future plans for exploration and development for the company. Silver Hammer has made new hires for its technical team, compiled data from its exploration work to date, and taken measures to advance projects to drill readiness.

Silver Hammer is a Canadian junior resource exploration company whose primary focus is silver, though some of the Company’s projects have shown potential for gold and copper mineralization as well. Silver Hammer has accumulated a set of historically producing projects for brownfield exploration in the mining-friendly districts of Idaho and Nevada.

Silver Hammer Reveals Foundational Data

Silver Hammer’s leadership and technical teams, including Don Birak, Ron Burk, Lawrence Roulston, and Phil Mulholland, each with  experience in the industry, are working to prepare the Silver Strand, Eliza, and Silverton projects for upcoming exploration plans.

Silver Hammer has also put out an overview of past exploration on its three projects outlining how the data collected will inform its future plans.

"It is estimated about 100 million ounces of silver are consumed per year for this purpose alone. This figure is expected to rise in the coming years, with continued growth of electricity demand and renewable energy aspirations all pointing to rising solar power penetration," said Rick Mills.

Drilling at the Idaho-based Silver Strand project in 2021 and 2022 revealed encouraging results.

Some of the highlights of last year's drilling included  10.90 g/t Au and 522.00 g/t Ag over 1.50m on hole DDH02-004 and 10.20 g/t Au and 199.06 g/t Ag over 3.30m on hole DDH02-003.

The Eliza Project, located in Nevada, also revealed encouraging results last year, on which the company plans to follow up with further exploration.

Some highlights of the results from last year include sample EZR007 with 1540 g/t Ag, 6.88% Cu, and 7.38% Zn, as well as sample EZR008, which found 1410 g/t Ag, 5.40% Cu, 2.60% Zn, and 9.05% Pb. These findings were the result of chip-and-grab samples.

Last year, the company identified two separate systems: one silver, and one gold, at its  Silverton Project in Nevada, which currently has 13 permitted drill sites.  The company will prioritize drill targets ahead of a  Phase 2 drill program planned for 2023.

Why Silver and Gold?

Silver and gold have seen widespread interest from investors as confidence in the economy dips. As OANDA senior market analyst Ed Moya has said, "Gold is rising after jobless claims reminded traders that the labor market is tight, complicating a growing number of Fed rate cut bets. Gold is going to shine here, and it seems positioned to find a home above the US$2000 level."

Silver is also seeing a rise in industrial applications from the green energy and electronics sectors. Silver is especially essential in the production of solar panels, and, according to analyst Rick Mills of Ahead of the Herd, "It is estimated about 100 million ounces of silver are consumed per year for this purpose alone. This figure is expected to rise in the coming years, with continued growth of electricity demand and renewable energy aspirations all pointing to rising solar power penetration."

In another analysis, Mills observed that while both gold and silver are going strong, between the two, silver may be pulling ahead.

He said, "The banking crisis, along with other normal gold price drivers . . . pushed gold to within a hundred dollars of its all-time high this week. At around US$21, silver has yet to break out."

Catalyst: Building the Future at Silver Hammer

Silver Hammer intends to submit a property-wide Plan of Operations for the Eliza project to the United States Forest Service (USFS) in order to expand its operations on the property and advance to a drill-ready state.

In a March 27, 2023 newsletter Jeff Clark of The Gold Advisor commented on Silver Hammer's 2023 exploration plans, saying, "It looks to be an aggressive year for this company, and at the current market cap the stock could easily pop on any significant success."

The company will conduct exploration for a drill program this year on the patented ground, including the California Mine, which has a history of high-grade production. Silver Hammer is also preparing a geophysical study, including ground truthing, geologic mapping, and structural analysis in order to strategically place drill targets.

Silver Hammer plans to expand on the findings at Silver Strand by executing an extensive property-wide exploration plan. It reports that the majority of the samples it has already taken revealed the presence of gold and silver.

It is also preparing the results of a property-wide geophysical interpretation. This will include Induced Polarization (IP)/Resistivity, Very Low Frequency (VLF), and Unmanned Aerial Vehicle (UAV) magnetic surveys. This plan will be submitted to the USFS in April of 2023. More details on this plan will be forthcoming at that time. The Company aims to increase its property holdings through district-wide accretive property acquisitions and expansion. 

In a March 27, 2023 newsletter Jeff Clark of The Gold Advisor commented on Silver Hammer's 2023 exploration plans, saying, "It looks to be an aggressive year for this company, and at the current market cap the stock could easily pop on any significant success."

Ownership and Share Structure

Silver Hammer insiders own 8.37% of the company. Lawrence Roulston, a director, owns 2.30%, with 600,000 shares, Alnesh Mohan, the CFO, owns 0.37%, with 175,000 shares, Joness Lang, a director, owns 0.16%, with 73,000 shares, and Ron Burk, a director, owns 0.16%, with 75,000 shares.

According to Reuters, 0.65% of the company is held by institutional investors, with Palos Management Inc. holding the most at 0.64%, with 0.30 million shares.

The rest is in retail.

Silver Hammer has CA<$1 million in the bank, with a monthly burn rate of CA$120 thousand, and no monthly drilling cost, as they are not currently drilling.

As for warrants overhang, they have only 61,250 in the money warrants at CA$0.10. The balance (552,831) at CA$0.38 will expire in June 2024, 6.7 million at CA$0.50 will expire in June 2023, and 3.96 million at CA$0.50 will expire on June 2024.

Silver Hammer has a market cap of CA$12.6 million based on a 50-day moving average and has 46,713,662 shares, 11,289,538 warrants, and 4,035,000 options. It trades in the 52-week range between CA$0.22 and CA$0.74.

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