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Southern Silver Exploration Corp. (TSXV: SSV,OTC:SSVFF) (OTCQX: SSVFF) (the "Company" or "Southern Silver") reports the final assays from drilling on the Puro Corazon claim which continues to extend mineralization to depth and identify additional thick intervals of high-grade and strongly silver-enriched polymetallic mineralization.
Highlight assays include:
a 4.6 metre interval averaging 201g/t Ag, 0.1%g/t Cu, 4.5% Pb and 9.8% Zn (557g/t AgEq), including a 1.5 metre interval averaging 401g/t Ag, 0.2% Cu, 8.9% Pb and 22.3% Zn (1181g/t AgEq)(1) from drillhole 26CLM-221; and
a 9.3 metre interval averaging 62g/t Ag, 0.1% Cu, 0.2% Pb and 6.0% Zn (234g/t AgEq), including a 2.2 metre interval averaging 135g/t Ag, 0.2% Cu, 0.4% Pb and 13.5% Zn (522g/t AgEq)(1) from drillhole 26CLM-223.
(1) see AgEq calculation criteria in notes to Table 1. Intervals are reported as estimated true thickness unless otherwise indicated
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.
All twenty-three of the planned holes in the current drill program are now complete and drill crews have been demobilized from the property. Analyses from all drill holes have been reported. Sampling and mapping within the 13 levels of the historic Puro Corazon mine workings continues with up to 212 channel samples totaling over 1300 individual samples having been collected to date. Assay results from this sampling are being compiled and will be reported in the coming weeks.
Vice President of Exploration, Rob Macdonald stated "The 2025-26 drill program successfully outlined and upgraded mineralization on the Puro Corazon claim; extending mineralization within the skarn-altered halo around the main intrusion for upwards of 400 metres laterally and to depths of up to 500 metres below surface, where it transitions into previously identified mineralization in the larger CLM claim block. More significantly, drilling also intersected multiple bonanza-grade, replacement-styled intercepts on the outer edge of the skarn-altered halo, potentially forming a shallow high-grade lens outboard of the main skarn zone and starting within 200 metres of surface. This mineralization is adjacent to existing historical mine workings and could be accessed early in a mine plan scenario."
Next Steps
The Company is planning to incorporate the results of the Puro Corazon drilling program into the much larger Cerro Las Minitas project which is expected to significantly enhance the project economics and the scalability of the mine plan. Final assay results have been received and the next steps for the Company include:
update 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 work on the Cerro Las Minitas project 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.
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/5344/290811_f22c06a0443cc900_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/5344/290811_f22c06a0443cc900_003full.jpg
Table 1: Select Assay Results from the Cerro Las Minitas project.
| Drill 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 (%) | Dpt (us$) | g*m | Notes | ||
| Az | Dip | Depth | |||||||||||||||
| Deg | Deg | (m) | |||||||||||||||
| 26CLM-221 | 76 | -54 | 669 | 230.8 | 234.0 | 3.1 | 2.5 | 36 | 0.0 | 0.1 | 1.2 | 1.7 | 109 | 4.1 | 116 | 272 | |
| 26CLM-221 | 490.4 | 490.8 | 0.4 | 0.4 | 877 | 0.5 | 0.2 | 30.9 | 15.3 | 1915 | 71.5 | 2039 | 770 | ||||
| 26CLM-221 | 500.2 | 505.3 | 5.2 | 4.6 | 201 | 0.0 | 0.1 | 4.5 | 9.8 | 557 | 20.8 | 582 | 2562 | ||||
| inc. | 500.9 | 502.6 | 1.7 | 1.5 | 401 | 0.0 | 0.2 | 8.9 | 22.3 | 1181 | 44.1 | 1232 | 1793 | ||||
| 26CLM-221 | 509.5 | 510.5 | 1.1 | 0.9 | 247 | 0.0 | 0.0 | 1.4 | 7.6 | 477 | 17.8 | 493 | 447 | ||||
| 26CLM-221 | 519.3 | 521.0 | 1.7 | 1.5 | 168 | 0.0 | 0.1 | 2.0 | 12.5 | 547 | 20.4 | 569 | 831 | ||||
| 26CLM-221 | 528.0 | 529.7 | 1.6 | 1.5 | 119 | 0.0 | 0.0 | 0.8 | 10.8 | 428 | 16.0 | 443 | 630 | ||||
| 26CLM-221 | 598.3 | 602.2 | 3.9 | 3.5 | 18 | 0.0 | 0.0 | 0.0 | 2.7 | 94 | 3.5 | 98 | 328 | ||||
| inc. | 600.0 | 601.2 | 1.2 | 1.1 | 34 | 0.0 | 0.0 | 0.1 | 5.7 | 192 | 7.2 | 199 | 206 | ||||
| 26CLM-222 | 90 | -49 | 618 | 34.3 | 39.0 | 4.8 | 2.8 | 56 | 0.0 | 0.0 | 1.1 | 0.3 | 87 | 3.3 | 93 | 242 | |
| inc. | 36.0 | 37.5 | 1.5 | 0.9 | 95 | 0.0 | 0.0 | 2.1 | 0.4 | 148 | 5.5 | 156 | 129 | ||||
| 26CLM-222 | 50.1 | 52.9 | 2.9 | 1.7 | 41 | 0.0 | 0.0 | 1.3 | 0.9 | 93 | 3.5 | 98 | 154 | ||||
| inc. | 51.8 | 52.9 | 1.1 | 0.6 | 61 | 0.0 | 0.1 | 1.8 | 1.2 | 133 | 5.0 | 141 | 85 | ||||
| 26CLM-222 | 558.4 | 559.5 | 1.1 | 0.8 | 127 | 0.0 | 0.2 | 0.5 | 2.9 | 226 | 8.4 | 238 | 181 | ||||
| 26CLM-223 | 92 | -55 | 550 | 312.0 | 319.9 | 7.9 | 6.0 | 86 | 0.0 | 0.0 | 0.3 | 0.9 | 118 | 4.4 | 124 | 710 | |
| inc. | 313.2 | 314.5 | 1.3 | 1.0 | 286 | 0.1 | 0.0 | 0.6 | 0.9 | 324 | 12.1 | 336 | 322 | ||||
| 26CLM-223 | 495.0 | 505.8 | 10.8 | 9.3 | 62 | 0.0 | 0.1 | 0.2 | 6.0 | 234 | 8.7 | 243 | 2172 | 36.5% Dilution | |||
| inc. | 495.0 | 497.5 | 2.5 | 2.2 | 135 | 0.0 | 0.2 | 0.4 | 13.5 | 522 | 19.5 | 544 | 1124 | ||||
| and inc. | 499.4 | 500.4 | 1.0 | 0.9 | 117 | 0.0 | 0.4 | 0.3 | 22.9 | 764 | 28.5 | 795 | 658 | ||||
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 $2,800/oz Au, $32/oz Ag, $4.50/lb Cu, $0.95/lb Pb and $1.25/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/290811
