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Southern Silver Exploration Corp. (TSXV:SSV,FWB:SEG) reported that Freeport-McMoRan Exploration Corporation has announced results of first year operations, made an option payment of $100,000 and delivered plans for the first phase of second year operations on the Cerro las Minitas project in Durango State, Mexico.
As quoted in the press release:
Highlights from the most recent drilling funded by FMEC include:
- a 9.2 metre interval averaging 401g/t silver, 8.5% lead and 5.1% zinc (777g/t AgEq) from a shallow intercept on the Blind zone;
- a 55.2 metre interval averaging 41g/t silver, 0.7% lead and 5.3% zinc (202g/t AgEq) intersected at over 500 metres below surface in the El Sol zone; and
- a 13.9 metre interval averaging 135g/t silver, 2.4% lead and 1.3% zinc (250g/t AgEq) including a 2.4 metre interval 545g/t silver, 10.3% lead and 3.8% zinc (942 g/t AgEq) from the South Skarn target.
Exploration plans for the commencement of the second year of operations are for approximately 4,000 metres of core drilling to commence in November 2013. An initial seven sites have been selected for testing as a follow-up on earlier drilling funded and conducted by FMEC, which was successful in confirming both the distribution of high-grade mineralization in the Blind zone and identifying significant extensions of mineralization at each of the El Sol and South Skarn targets.
Click here to read the Southern Silver Exploration Corp. (TSXV:SSV,FWB:SEG) press release
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