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<?xml version="1.0"?>
<ownershipDocument>
<schemaVersion>X0306</schemaVersion>
<documentType>4</documentType>
<periodOfReport>2021-03-31</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
<issuer>
<issuerCik>0001517006</issuerCik>
<issuerName>Gatos Silver, Inc.</issuerName>
<issuerTradingSymbol>GATO</issuerTradingSymbol>
</issuer>
<reportingOwner>
<reportingOwnerId>
<rptOwnerCik>0001561844</rptOwnerCik>
<rptOwnerName>Levental Igor</rptOwnerName>
</reportingOwnerId>
<reportingOwnerAddress>
<rptOwnerStreet1>C/O GATOS SILVER, INC.,</rptOwnerStreet1>
<rptOwnerStreet2>8400 E. CRESCENT PARKWAY, SUITE 600</rptOwnerStreet2>
<rptOwnerCity>GREENWOOD VILLAGE</rptOwnerCity>
<rptOwnerState>CO</rptOwnerState>
<rptOwnerZipCode>80111</rptOwnerZipCode>
<rptOwnerStateDescription></rptOwnerStateDescription>
</reportingOwnerAddress>
<reportingOwnerRelationship>
<isDirector>1</isDirector>
<isOfficer>0</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle></officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable>
<nonDerivativeTransaction>
<securityTitle>
<value>Common Stock</value>
</securityTitle>
<transactionDate>
<value>2021-03-31</value>
</transactionDate>
<deemedExecutionDate></deemedExecutionDate>
<transactionCoding>
<transactionFormType>4</transactionFormType>
<transactionCode>A</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionTimeliness></transactionTimeliness>
<transactionAmounts>
<transactionShares>
<value>8236</value>
<footnoteId id="F1"/>
</transactionShares>
<transactionPricePerShare>
<value>0</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode>
<value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value>10799</value>
<footnoteId id="F2"/>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeTransaction>
<nonDerivativeHolding>
<securityTitle>
<value>Common Stock</value>
</securityTitle>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value>97363</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value>I</value>
</directOrIndirectOwnership>
<natureOfOwnership>
<value>By Levental Family Trust</value>
<footnoteId id="F3"/>
</natureOfOwnership>
</ownershipNature>
</nonDerivativeHolding>
</nonDerivativeTable>
<footnotes>
<footnote id="F1">Consists entirely of deferred stock units ("DSUs"), which were fully vested on the grant date. Each DSU entitles the holder to receive one share of the Company's common stock upon departure from the Company.</footnote>
<footnote id="F2">Includes 10,799 DSUs, which were fully vested on the date of grant.</footnote>
<footnote id="F3">The reporting person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.</footnote>
</footnotes>
<ownerSignature>
<signatureName>/s/ Roger Johnson, Attorney-in-Fact for Igor Levental</signatureName>
<signatureDate>2021-04-02</signatureDate>
</ownerSignature>
</ownershipDocument>
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