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Southern Silver Exploration Corp. (TSXV: SSV,OTC:SSVFF) (the "Company" or "Southern Silver") reports that crews have mobilized in preparation for further drilling on the Cerro Las Minitas Project, Durango, Mexico.
The upcoming exploration program follows 2025-26 drilling on the property which successfully delineated mineralization at the Puro Corazon target and returned multiple intercepts of high-grade, polymetallic Ag-Pb-Zn mineralization. Mineralization was extended laterally for the full 400 metres strike-length of the Puro Corazon claim and to depths of up to 450 metres below surface.
The current program will build upon this earlier work and includes up to 12,500 metres of definition drilling designed to increase the classification confidence of a subset of near-surface, high-grade mineralization in the Puro Corazon target and forms part a larger program to assess, geologically and spatially, the historic Puro Corazon claim and to incorporate the underlying mineralization into the larger CLM district.
Other work on the CLM Project includes an update of the mineral resource estimate based on the most recent drilling at Puro Corazon, scheduled for Q3 2026 and the advancement of several engineering opportunities identified in the 2024 preliminary economic assessment ("PEA") of the project.
As currently modelled, the Cerro Las Minitas project features a large-scale underground mining operation with robust project economics and high gross revenues in a well located and mining friendly jurisdiction in southeast Durango, Mexico. For more information on the details of the current economic assessment of the Cerro Las Minitas project please refer to Southern Silver's news release dated June 10, 2024.
Next Steps
The Company is planning to incorporate the results of the 2025-26 Puro Corazon drill program into the much larger Cerro Las Minitas project which is expected to significantly enhance both the project economics and the mine plan. Final assays from the 2025-26 drilling have been received. Work through Q3-Q4 2026 will include:
- an update of the Mineral Resource Estimate of the Cerro Las Minitas project; followed by
- an update of the Preliminary economic Assessment ("PEA") of the project in accordance with the provisions of National Instrument 43-101 and
- continue to advance baseline data collection and permit readiness review
The Company reports that, subsequent to acquisition of the Puro Corazon claim and to the July 2024 PEA, work on the Cerro Las Minitas project continues advancing numerous upside economic and mine development opportunities while also derisking and advancing the project with the commencement of baseline data collection, hydrology, geotechnical, archaeological and land surveys and studies.
About Southern Silver Exploration Corp.
Southern Silver Exploration Corp. is an exploration and development company with a focus on the discovery of world-class mineral deposits either directly or through joint-venture relationships in mineral properties in major jurisdictions. Our specific emphasis is the 100% owned Cerro Las Minitas silver-lead-zinc project located in the heart of Mexico's Faja de Plata, which hosts multiple world-class mineral deposits such as Penasquito, Los Gatos, San Martin, Naica and Pitarrilla. We have assembled a team of highly experienced technical, operational and transactional professionals to support our exploration efforts in developing the Cerro Las Minitas project into a premier, high-grade, silver-lead-zinc mine. Located in the same State as the Cerro Las Minitas property is the newly acquired Nazas, gold-silver property. Our property portfolio also includes the Oro porphyry copper-gold project and the Hermanas gold-silver vein project where permitting applications for the conduct of a drill program is underway, both located in southern New Mexico, USA.
Robert Macdonald, MSc. P.Geo, is an officer of Southern Silver Exploration Corp. and is a Qualified Person as defined by National Instrument 43-101. Mr. Macdonald supervised directly the collection of the data from the CLM project that is reported in this disclosure. He is responsible for and approves the presentation of the technical information in this news release.
On behalf of the Board of Directors
"Lawrence Page"
Lawrence Page, K.C.
President & Director, Southern Silver Exploration Corp.
For further information, please visit Southern Silver's website at southernsilverexploration.com or contact us at 604.641.2759 or by email at corpdev@mnxltd.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Forward-looking statements in this news release include plans to advance and develop the CLM property including updating the Mineral Resource Estimate followed by an update of the PEA. These statements are based on a number of assumptions, including, but not limited to, general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the Company's projects, and the availability of financing for the Company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward-looking statements include the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/301977
