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Southern Silver Exploration Corp. (TSXV:SSV) has released assays results from the first three holes of the plus-10,000-metre 2015 core drilling program on the Cerro Las Minitas project, located in Durango state, Mexico.
Southern Silver Exploration Corp. (TSXV:SSV) has released assays results from the first three holes of the plus-10,000-metre 2015 core drilling program on the Cerro Las Minitas project, located in Durango state, Mexico. Drilling successfully identified a new high-grade gold-silver polymetallic discovery on the project (“Mina La Bocona Extension”) and further extensions to the previously identified Blind and El Sol Deposits.
As quoted in the press release:
Highlights from the Discovery Hole 15CLM-078 at Mina La Bocona include:
- a 7.8m down hole interval (3.9m est. TT) averaging 13.5g/t Au, 37g/t Ag, 2.2% Pb and 1.7% Zn (1093g/t AgEq)
- a 16.5m down hole interval (8.2m est. TT) averaging 0.5g/t Au, 150g/t Ag, 3.7% Pb and 0.7% Zn, (325g/t AgEq) including a 4.2m down hole interval (2.1m est. TT) averaging 1.1g/t Au, 354g/t Ag, 7.9% Pb and 0.7% Zn (724g/t AgEq)
- a 7.2 metre down hole interval (3.6m est. TT) averaging 0.2g/t Au, 584g/t Ag, 10.4% Pb and 1.4% Zn (1001g/t AgEq) including a 4.5m down hole interval (2.2m est. TT) 0.2g/t Au, 903g/t Ag, 16.1% Pb and 2.2% Zn (1547g/t AgEq)
Mina La Bocona Extension – New Discovery
Drill hole 15CLM-078 tested the east side of the central intrusion and was collared approximately 350 metres east of the Mina La Bocona workings which were formerly mined by artisanal workers to depths of about 220 metres. The hole drilled to the southwest and into the eastern margin of the central intrusion. Mineralization identified in the hole is approximately 1.25 kilometres from the Blind and El Sol deposits. This is the only hole to have tested this new discovery to date, the dimensions of which are currently unknown.
Seven separate high-grade mineralized intervals were intersected in the hole ranging from 1.9 metres to 16.5 metres (down hole thickness) including an oxidized high-grade gold zone in the upper 100 metres of the drill hole and gold-enriched massive sulphides deeper in the hole.
Some intervals in the high-grade gold-polymetallic zone are strongly oxidized with poor core recovery (approx. 35-40%) and are interpreted as an enriched zone of dissolution breccia formed by the weathering of gold-enriched massive sulphide bands similar to those intersected deeper in the hole. Check assays of new pulps from the high-grade gold interval confirmed the original analyses.
The deepest intercepts in this hole may be interpreted as the southern extension of the La Bocona chimney, however many of the drilled intercepts are located well outboard of the chimney and likely represent new, previously unrecognized mineralized structures. The location and position of this mineralization with respect to the Bocona chimney is similar to the spatial relationship between the Blind and El Sol deposits on the western side of the central intrusion and the historic Mina Santo Nino and Puro Corazon mines. Work by Southern Silver over the last several years has delineated the Blind and El Sol deposits to a cumulative strike length of 820 metres and up to 600 metres depth.
Blind – El Sol Deposit
Drilling also identified silver-enriched polymetallic mineralization down-dip and along strike of previously delineated mineralized zones in two holes which tested the Blind and El Sol deposits.
Several new zones of mineralization were identified in drill hole 15CLM-077 and are summarized in Table 1, highlighted by a 0.6m down hole intercept (0.3m est. TT) averaging 1380g/t Ag, 7.9%Pb and 2.4% Zn (1745g/t AgEq) within a broader 2.4m (1.3m est. TT) interval averaging 391g/t Ag, 2.6%Pb and 0.8% Zn (511g/t AgEq).
This is the deepest mineralization encountered in hole 15CLM-077 and is likely +200 metre sub-vertical offset of similar strongly Ag-Pb enriched Blind Zone mineralization identified in earlier drilling.
Southern Silver President Lawrence Page Q. C. stated:
Initial results from this phase of the 10,000 metre program have encouraged the Company and its Optionee, Electrum Global Holdings LP (“Electrum”) to extend this phase of drilling past the planned 10,000 metres through drilling of additional exploration/development holes in both mineralized areas and exploratory holes in other anomalous areas of the 1370 hectare district. Electrum has indicated a willingness to continue to fund on an accelerated basis an expanded phase 1 program in excess of phase 1 expenditures of $US 2.0 million and as part of its $US 5.0 million earn-in obligation.
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