Silver Standard (SSRI) Pushing San Luis, Pitarilla Projects Forward

Silver Standard Resources (NASDAQ:SSRI) is pushing to move its San Luis in Peru forward, as the company said it has submitted permitting applications to that end.

Also at the top of the strategy of Silver Standard Resources is to fast track the Pitarrilla project in Mexico. The company said they have a goal of a feasibility study ready by mid-2011.

CEO John Smith said he's looking at different ways of beginning production at the project earlier, including the possibility of mining oxide to begin with, while also working on developing operations in stage.

Capital isn't a problem noted Smith, who said the funds are available to keep the projects going. Most of the capital came from selling its Snowfield and Brucejack projects in 2010 to Pretium Resources for C$233-million, as well as a 43.1 percent interest in the company.

Probable Mineral reserves at Pitarilla are 91,7-million ounces of silver, measured and indicated resources are 26,1-million ounces of silver and 82,2-million ounces in the inferred category.

SSRI closed Wednesday at $28.87, gaining $0.70, or 2.48 percent.