Southern Silver to Carry Out New Non-Brokered Private Placement

Southern Silver Exploration Corp.(TSXV:SSV) announced that it is planning a new non-brokered private placement. The Company will issue 16,700,000 units at $0.12 per unit to raise $2,004,000. Proceeds from the private placement will be used for exploration and property maintenance at the Company’s Cerro Las Minitas project and Oro project.

As quoted in the press release:

The Company plans 20,000 metres of core drilling in 2012, with the aim of completing a NI 43-101 compliant resource on these first targets by Q4 of 2012. This will be the initial milestone toward the Company’s goal of delineating a larger, multi-million tonne, high-grade, silver-enriched polymetallic resource on the project.

Click here to read the Southern Silver Exploration Corp. (TSXV:SSV) press release