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Southern Silver Exploration Corp. (TSXV: SSV,OTC:SSVFF) (the "Company" or "Southern Silver") reports assays from the first five holes of the definition drill program on the Puro Corazon target which provide better resolution to the distribution of the strongly silver enriched polymetallic mineralization.
Highlight assays include:
a 35.0 metre interval averaging 188g/t Ag, 0.3%g/t Cu, 4.9% Pb and 4.6% Zn (399g/t AgEq), including a 9.4 metre interval averaging 344g/t Ag, 0.2% Cu, 9.1% Pb and 6.7% Zn (665g/t AgEq)(1) from drillhole 26CLM-225;
a 5.2 metre interval averaging 277g/t Ag, 0.1% Cu, 9.9% Pb and 6.3% Zn (598g/t AgEq), including a 3.6 metre interval averaging 384g/t Ag, 0.1% Cu, 13.4% Pb and 8.3% Zn (812g/t AgEq)(1) from drillhole 26CLM-226; and
a 5.3 metre interval averaging 493g/t Ag, 0.3% Cu, 10.2% Pb and 7.2% Zn (850g/t AgEq) from drillhole 26CLM-227.
(1) see AgEq calculation criteria in notes to Table 1. Intervals are reported as estimated true thickness unless otherwise indicated
These initial results are from the ongoing 14,000 metre core hole drill program that was started in June '26 and is designed to upgrade resource classification in the Puro Corazon target. The current drill program will test an area that is roughly a 200 metres strike-length by 300 metres down dip within the Puro Corazon claim. The above reported drill holes successfully targeted the upper part of the zone with nominal 40 metre step-outs from previously reported intercepts that include 10.5 metres averaging 1,115g/t AgEq (see News Release dated December 1, 2025) from 25CLM-203 and 10.4 metres averaging 743g/t AgEq (see News Release dated January 6, 2026) from 25CLM-205 as well as other mineralized intercepts.
Both skarn and replacement styles of mineralization are identified in these holes with several intercepts, located well outboard of the Skarn zone, correlating with previous identified mineralization in the El Sol structural zone and the main skarn target.
Vice President of Exploration, Rob Macdonald, stated, "This is a very solid start to the definition drill program on the Cerro Las Minitas project. These initial step out holes not only help confirm the previously reported thicknesses and grades of mineralization in this target area, but provide better definition as to the projection of several of the mineralized zones. Drilling continues on the project and the Company anticipates good news flow over the coming weeks and months."
The Company reports that drilling continues with eight of 30 planned holes having been completed to date with one hole in progress. Logging and sampling continue and assays from three holes are pending.
Figure 1: Plan view of the drilling on the recently acquired Puro Corazon Claim.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5344/315107_4a43a80364675b13_002full.jpg
Figure 2: Longitudinal Section of the Puro Corazon Target, looking east. Note: pierce points reflect intercepts into the main Skarn zone
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5344/315107_4a43a80364675b13_003full.jpg
Next Steps
Work continues to incorporate results from the earlier 2025-26 Puro Corazon drilling into the larger Cerro Las Minitas project which is expected to enhance the project economics and the scalability of the mine plan. Work continues advancing numerous upside opportunities identified subsequent to the July 2024 PEA, while also derisking and advancing the project with the commencement of baseline data collection, hydrology, geotechnical, archaeological and land surveys and studies.
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.
Table 1: Select Assay Results from the Cerro Las Minitas project.
| Hole # | Collar Data | From (m) | To (m) | Interval (m) | Est. Tr. Thck. (m) | Ag (g/t) | Au (g/t) | Cu (%) | Pb (%) | Zn (%) | AgEq (g/t) | ZnEq (%) | Notes | ||
| Az Deg | Dip Deg | Depth (m) | |||||||||||||
| 26CLM-224 | 78 | -55 | 381 | 87.8 | 94.9 | 7.1 | 4.3 | 15 | 0.01 | 0.14 | 1.8 | 2.2 | 107 | 4.4 | |
| 26CLM-224 | 249.9 | 257.1 | 7.3 | 6.2 | 85 | 0.01 | 0.21 | 2.9 | 2.5 | 206 | 8.5 | ||||
| inc. | 255.8 | 257.1 | 1.4 | 1.2 | 164 | 0.01 | 0.30 | 5.5 | 7.1 | 443 | 18.2 | ||||
| 26CLM-224 | 284.2 | 287.5 | 3.3 | 2.8 | 80 | 0.04 | 1.99 | 1.0 | 1.1 | 253 | 10.4 | ||||
| inc. | 284.2 | 285.0 | 0.9 | 0.7 | 179 | 0.13 | 7.25 | 0.1 | 0.4 | 664 | 27.2 | ||||
| 26CLM-225 | 92 | -59 | 355 | 102.3 | 105.2 | 2.9 | 1.9 | 216 | 0.21 | 0.04 | 3.9 | 1.2 | 318 | 13.0 | 43.8% Dilution |
| inc. | 104.9 | 105.2 | 0.3 | 0.2 | 674 | 0.18 | 0.08 | 14.4 | 8.6 | 1128 | 46.3 | ||||
| 26CLM-225 | 192.6 | 193.0 | 0.4 | 0.3 | 926 | 0.04 | 0.06 | 20.7 | 6.0 | 1410 | 57.9 | ||||
| 26CLM-225 | 198.0 | 245.6 | 47.6 | 35.0 | 188 | 0.02 | 0.31 | 4.9 | 4.6 | 399 | 16.4 | ||||
| inc. | 198.7 | 211.5 | 12.8 | 9.4 | 344 | 0.03 | 0.19 | 9.1 | 6.7 | 665 | 27.3 | ||||
| and inc. | 240.7 | 245.6 | 4.9 | 3.6 | 235 | 0.03 | 1.67 | 7.1 | 14.8 | 818 | 33.6 | ||||
| 26CLM-226 | 98 | -68 | 387 | 141.6 | 143.2 | 1.6 | 0.7 | 90 | 0.01 | 0.43 | 3.5 | 3.5 | 258 | 10.6 | |
| 26CLM-226 | 191.1 | 200.9 | 9.8 | 5.2 | 277 | 0.02 | 0.12 | 9.9 | 6.3 | 598 | 24.6 | ||||
| inc. | 192.1 | 198.8 | 6.7 | 3.6 | 384 | 0.03 | 0.14 | 13.4 | 8.3 | 812 | 33.3 | ||||
| 26CLM-226 | 252.3 | 252.6 | 0.3 | 0.2 | 232 | 0.01 | 0.11 | 7.3 | 4.6 | 469 | 19.2 | ||||
| 26CLM-226 | 258.9 | 269.8 | 10.9 | 9.0 | 96 | 0.02 | 0.15 | 2.1 | 2.9 | 211 | 8.7 | 40% Dilution | |||
| inc. | 258.9 | 261.0 | 2.1 | 1.7 | 309 | 0.03 | 0.16 | 9.5 | 6.6 | 633 | 26.0 | ||||
| and inc. | 268.9 | 269.8 | 0.9 | 0.7 | 121 | 0.02 | 0.46 | 0.2 | 13.0 | 471 | 19.3 | ||||
| 26CLM-226 | 318.3 | 324.5 | 6.2 | 5.1 | 58 | 0.01 | 0.10 | 0.2 | 0.3 | 76 | 3.1 | 24% Dilution | |||
| 26CLM-227 | 83 | -55 | 324 | 112.2 | 117.9 | 5.7 | 4.2 | 90 | 0.03 | 0.50 | 2.5 | 3.7 | 255 | 10.5 | |
| inc. | 114.3 | 116.4 | 2.1 | 1.5 | 166 | 0.05 | 1.08 | 4.4 | 6.2 | 461 | 18.9 | ||||
| 26CLM-227 | 128.8 | 136.1 | 7.3 | 5.3 | 493 | 0.02 | 0.27 | 10.2 | 7.2 | 850 | 34.9 | ||||
| inc. | 130.6 | 135.0 | 4.4 | 3.2 | 748 | 0.03 | 0.37 | 15.5 | 8.4 | 1225 | 50.3 | ||||
| 26CLM-227 | 202.7 | 212.2 | 9.5 | 8.0 | 63 | 0.01 | 0.06 | 1.4 | 0.6 | 105 | 4.3 | ||||
| inc. | 202.7 | 207.0 | 4.3 | 3.6 | 95 | 0.02 | 0.07 | 2.0 | 1.2 | 162 | 6.6 | ||||
| 26CLM-228 | 84 | -54 | 336 | 230.3 | 257.6 | 27.4 | 19.6 | 69 | 0.01 | 0.09 | 2.1 | 2.0 | 155 | 6.4 | 30.5% Dilution |
| inc. | 236.3 | 247.7 | 11.4 | 8.2 | 114 | 0.01 | 0.13 | 3.3 | 3.3 | 257 | 10.5 | 38.5% Dilution | |||
| and inc. | 246.4 | 247.7 | 1.3 | 0.9 | 278 | 0.02 | 0.20 | 8.8 | 5.8 | 573 | 23.5 | ||||
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1) Analyzed by FA/AA for gold and ICP-AES by ALS Laboratories, North Vancouver, BC. Silver (>100ppm), copper, lead and zinc (>1%) overlimits assayed by ore grade ICP analysis.
2) High silver overlimits (>1500g/t Ag) and gold overlimits (>10g/t Au) re-assayed with FA-Grav. High Pb (>20%) and Zn (>30%) overlimits assayed by titration. AgEq and ZnEq were calculated using prices of $3,200/oz Au, $38/oz Ag, $4.75/lb Cu, $0.95/lb Pb and $1.35/lb Zn.
3) AgEq and ZnEq calculations utilized relative metallurgical recoveries of Au 48.6%, Ag 93%, Cu 70%, Pb 87% and Zn 93%.
4) Composites are calculated using a 80g/t AgEq cut-off in sulphide and 0.5g/t AuEq in the oxide gold zone. Composites have <20% internal dilution, except where noted; anomalous intercepts are calculated using a 10g/t AgEq cut-off.
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 a Qualified Person as defined by National Instrument 43-101 and 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 disclosure.
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/315107
