Silver Hammer Mining Corp. (HAMR:CSE; HAMRF:OTCQB) has announced that it has appointed Precision GeoSurveys to conduct property-wide airborne magnetic and radiometric surveys at its Eliza and Silverton projects in Nevada.
Silver Hammer President and CEO Peter A. Ball said the surveys will provide an "additional layer of technical data" and the company's "systematic approach to exploration and drill targeting, as well as taking the time to fully understand the multiple layers of technical data, will result in the increased potential for an exciting new discovery in 2023 as we strive to deliver significant value to our shareholders."
According to its website, Silver Hammer Mining is a 'junior resource exploration company focused on advancing three past silver producing projects in districts located in Idaho and Nevada.' Its flagship property is the Silver Strand Project, located in the Coeur d'Alene mining district in Idaho, which has 70 claims across 5.8 kilometers of land. Though the company's focus is on silver exploration, there is also some potential for gold and copper mineralization.
Precision GeoSurveys 'specializes in low-level airborne geophysical surveys in mountainous terrain' and offers services in mineral exploration, diamond exploration, groundwater investigations, and more. The company is headed up by President Harmen J. Keyser, who has over 40 years of experience in mineral exploration and helicopter operations.
Why Silver?
In March, Richard Mills of Ahead of the Herd wrote, "Hold gold, buy silver." Because of its importance in the construction of batteries and electric connections in devices like cars, silver continues to be in demand.
The integral part it plays in the building of solar technology also means it has a part to play in a more sustainable future. Silver is the world's best conductor of electricity. In solar technology, silver powder is turned into a paste and loaded onto a silicon wafer. Electrons are set free when light hits the silicon, and the silver can either carry the electricity for immediate use or save it for later.
The U.S. Money Reserve reported that silver was due to see its highest finish for a year, increasing by US$0.75 to a total of US$26 per ounce.
Silver is also used in medicines and treatments. As an effective antibiotic, it's infused into bandages and used in the fight against hospital superbugs, embedded into medical equipment such as stethoscopes, surgical tools, needles, breathing tubes, and more.
The U.S. Money Reserve reported that silver was due to see its highest finish for a year, increasing by US$0.75 to a total of US$26 per ounce.
Silver Hammer's projects are located in tier-one mining-friendly jurisdictions of Idaho and Nevada, U.S.A — districts that have generated significant production. The Silver Hammer team has decades of collective experience in resource exploration, mine development, and capital markets.
Multiple Upcoming Catalysts
The Gold Advisor noted, "This company just announced that after compiling geophysics data from 2004 to 2022, they've identified 15 new exploration targets at their Idaho property that were previously unknown."
Plans to extensively explore the Silver Strand project are also underway. The Idaho project, which includes the past-producing Silver Strand Mine, is located in a district that has produced over 1.2 billion ounces of silver and is home to some of the world's largest silver mines.
Previously mined to a depth of just 90 meters, Silver Strand holds the potential for mineralization both at greater depths as well as along the nearly 6-kilometer strike.
On April 3, 2023, The Gold Advisor noted, "This company just announced that after compiling geophysics data from 2004 to 2022, they've identified 15 new exploration targets at their Idaho property that were previously unknown."
Streetwise Ownership Overview*
Silver Hammer Mining Corp. (HAMR:CSE; HAMRF:OTCQB)
Ownership and Share Structure
Silver Hammer Mining Ltd. is headquartered in Vancouver, British Columbia.
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.
The company has under CA$1 million in the bank and a monthly burn rate of around CA$120,000. It has no monthly drilling costs, as it is not currently drilling.
Silver Hammer has a market cap of US$12.6 million, and 46,713,062 outstanding shares. It has 11,260,138 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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Disclosure:
1) Lauren Rickard wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None. Her company has a financial relationship with the following companies referred to in this article: None.
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