Southern Silver Exploration (TSXV:SSV) began the week on a high note with the release of a resource estimate for its Mexico-based Cerro Las Minitas project.

The estimate covers project’s Blind, El Sol and Santo Nino zones, which the company has been exploring since 2011. The base-case scenario, which uses a cut off of 150 g/t silver equivalent, points to an indicated resource of 3.7 kilotonnes containing 36.5 million silver equivalent ounces; meanwhile, the inferred resource stands at 6.6 kilotonnes containing 77.2 million silver equivalent ounces.

According to the company’s release, the indicated resource looks at only the Blind and El Sol zones, while the inferred resource takes those zones as well as the Santo Nino zone into account. Mina La Bocona, a zone recently discovered at Cerro Las Minitas, is not included in either of the estimates.

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Speaking to the Investing News Network, Robert MacDonald, general manager, exploration at Southern Silver, emphasized that “the new mineral resource is quoted at what are effectively today’s prices” — specifically, the cut off of 150 g/t silver equivalent uses average long-term prices of $15 silver, $1,100 gold, $2.75 copper, $0.90 lead and $0.90 zinc.

As he explained, that’s because the company “perceive

[s] a long-term rising commodity m