Summa Silver Corp. (TSXV:SSVR | OTC:SSVRF | FRA:48X)


Summa Silver Corp. (TSXV: SSVR) is an exploration & development company offering early exposure to high-grade silver and gold. Their focus lies in creating value for investors through exploration of two famous past-producing projects in the southwestern United States. Their Hughes Property is situated in the historic mining region of Tonopah, Nevada, a famous district that produced roughly 175 million ounces of silver and 2 million ounces of gold in the early to mid 1900’s. Summa’s Mogollon Property is located 120km from Silver City in New Mexico. It covers an extensive silver-gold bearing epithermal vein field with a 34km strike length. Production stopped in 1942 due to the United States’ entrance into World War II.

Stock Chart

Share Structure

As of February 26, 2021
Shares Issued 61,661,504
            Warrants 11,162,800
             Options 4,762,500
Fully Diluted 77,586,804

Investment Highlights

  • Focused on high-grade silver discoveries with excellent large-scale potential. 
  • Ownership of two famous past-producing properties in the southwestern United States. 
  • Experienced management team, with extensive background in geology and past success in exploration & development.
  • Strong capital structure: 41% ownership by management, 33% by institutional investors, as well as 18% ownership by Eric Sprott.
  • Well-financed to commence aggressive 2021 drill programs.


Hughes Property

  • Located in the famous mining district of Tonopah, Nevada.
  • Nevada recently ranked as the world’s best mining jurisdiction of 2020 in a report by the Fraser Institute.  
  • Strong historical grades in the Tonopah region, averaging 1263 g/t of silver equivalent.
  • Has never been explored with modern mining technology.  
  • Current standout results include hole SUM20-20 (6,220 g/t Ag equivalent over 0.7m) and SUM20-06 (596g/t Ag equivalent over 18.5m incl. 3,760 g/t silver over 2.5m).

Mogollon Property 

  • A historic mining district with vast potential that has seen very little modern exploration.
  • Past results in the property drilled intersections of roughly 13m, with an average of 500g/t silver equivalent. 
  • Permits are set to be received by the end of Q1 2021.

Management Profiles

Galen McNamara CEO & Director

- Entrepreneur and Geologist with extensive discovery and capital markets experience over nearly 15 years.
- Co-winner 2018 PDAC Bill Dennis “Prospector of the Year” Award and 2016 Mines and Money Exploration Award.
- Former Senior Project Manager – Exploration & Development at NexGen Energy, managed all field-based drilling and exploration activities, instrumental role in the discovery and delineation of multiple high grade uranium zones.
- Bachelor’s and Master’s Degrees in Geology from Laurentian University.

Martin Bajic CFO and Director

- Chartered Professional Accountant with extensive CFO experience at multiple Canadian listed companies.
- Wide ranging officer and director expertise.
- Public listing stewardship proficiency.
- Bachelor of Arts and a Diploma in Accounting from the University of British Columbia.

Garrett Ainsworth Technical Advisor

- President, CEO and Director of District Metals Corp (TSXV:DMX).
- Highly accomplished Geologist and mining executive with more than $300M in financing completed throughout his career.
- Key role in two large discoveries for which he was awarded the 2018 PDAC Bill Dennis. “Prospector of the Year” Award, 2016 Mines and Money Exploration Award, and 2013 AMEBC Colin Spence Award.
- Bachelor of Science in Geology with first class honours from Birkbeck, University of London.

Christopher Leslie Senior Geologist

- Economic geologist with over 13 years of experience in mineral exploration focused on the discovery and advancement of gold and silver deposits.
- Co-discoverer of the Blackwater Gold Deposit where he supervised the initial exploration programs that lead to the most recent mineral reserve estimate of 8.2M ounces of gold.
- Former VP Exploration of Tower Resources Ltd where he assembled and helped advance a portfolio of gold projects throughout British Columbia.
- Currently finishing his Ph.D. at the Centre for Ore Deposit and Earth Sciences (CODES) at the University of Tasmania.