Silver Bull Resources said that it will complete its fourth resource estimate update and complete a PEA on its flagship Sierra Mojada silver-zinc project in 2013.

Looking ahead, Silver Bull will release its fourth NI 43-101 resource update on the project in the first quarter of 2013, which will include drill results from the 2012 underground twinning program.

Based on the updated resource report figures, the company will complete the maiden PEA on the Sierra Mojada project in the third quarter of this year.

The PEA will incorporate ongoing work on metallurgical optimization, hydrology, and geotechnical studies and detailed mine plan studies.

After the PEA is completed, Silver Bull said the remainder of 2013 will be dedicated to mine feasibility study programs in contemplation of an initial feasibility study on the project in 2014.

The company said that “We at Silver Bull remain extremely bullish on the fundamentals for both silver and zinc. The world's financial troubles are not likely to go away anytime soon and silver (along with gold) will continue to be a haven for wealth preservation.”

"Furthermore, with the imminent closing of a number of major zinc mines expected in the next three years, coupled with both a lack of new zinc mines coming on line to replace this lost production and an expected increase in zinc demand, we see a tightening in the zinc supply over the short to medium term.”