Denarius Silver Corp (TSXV: DSLV) is a junior silver exploration company focused on the development of mining projects in high-grade districts. The company has an experienced management team that is focused on building a business around production and cash flow.
The firm in early 2021 secured several world class assets. The acquisitions include the past-producing Guia Antigua and Zancudo silver-gold projects in Colombia, and its Lomero-Poyatos project in Spain’s prolific Iberian Pyrite Belt, which hosts the world’s largest concentration of massive sulphides.
Since acquiring the Lomero-Poyatos Project in April 2021, the company has received the necessary approvals for an initial exploration program. Mobilization is well underway on site, where the firm will conduct preparatory work and commence is drilling program in September.
DSLV plans to initially drill 81 holes for a total of 23,500 metres of drilling. The initial drill program is designed to validate some selected historical holes drilled within the existing mine, and then subsequently conduct a 50×50 metre in-fill drill program in the lower levels of the same mine. The Lomero-Poyatos Project is a polymetallic deposit with a historical inferred resource estimate of 20.93 Mt of 3.08 g/t gold, 62.38 g/t silver, 0.90% copper, 0.85% lead, and 3.05% zinc that remains open at depth and along strike.
In Colombia, the Guia Antigua Project was acquired from Gran Colombia Gold Corp (TSX:GCM), Colombia’s largest underground gold producer. The property is located in the prolific Segovia-Remedios mining district in the Department of Antioquia, 130 kilometers northeast of Medellin.
The property has a highly productive vein system, and a 2018 drill program discovered 3 new veins which returned values of 3,268 g/t silver and 8.57 g/t gold over 1.2m. Significantly, as a result of the Colombia transactions, Gran Colombia owns 27% of Denarius, and Serafino Iacono, whom is currently Executive Chairman of Gran Colombia, has come aboard to serve as Executive Chairman and interim CEO of Denarius.
Denarius also owns the 1,052 hectare Zancudo Project in the Titiribi mining district in Antioquia, Colombia, which it also acquired from Gran Colombia Gold Corp. The property is currently being explored by IAMGOLD Corp. (TSX:IMG) under an option agreement for the exploration and potential purchase of an interest in the project.
Located in the Middle Cauca Gold Belt and in close proximity to Gran Colombia Gold Corp.’s flagship Segovia Mine, the Zacunda property hosts the past-producing Independencia silver-gold mine with historical production of 1.5 million ounces of silver and 2 million ounces of gold equivalent dating back to 1793.
Presently, Denarius has indicated it will focus its exploration efforts on expanding the size and scope of its projects in Spain and Colombia, expand the resource estimates, and bring them to a production stage to generate cash flow. As of June 30, 2021, Denarius had cash and cash equivalents of $21.2 millio, .and is fully funded to carry out its planned exploration programs at the Lomero and Guia Antigua/Zancuda Projects over the next 18 months.
As a recently reorganized public company with 205.08 million shares outstanding and a modest market capitalization of $86.06 million, Denarius Silver Corp, with its world-class assets, represents a compelling new silver-gold opportunity for junior exploration investors.
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As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.