Silver Bull Resources Inc. reported Monday that its silver reserves at a Mexican project are 45 percent higher than previously estimated.

The Vancouver-based company filed an updated technical report with regulatory authorities on its Sierra Mojada Silver Project, Coahuila State, in which the inferred and indicated silver reserves were sharply higher than a previous technical report estimated.

The new report estimates that, at a 15 gram per ton cutoff for silver, inferred plus indicated reserves in the Shallow Silver Zone are 46.31 million ounces.