Southern Silver Announces Commencement of Trading on the OTCQX
Southern Silver Announces Commencement of
Trading on the OTCQX
Vancouver, British Columbia--(Newsfile Corp. - May 19, 2021) -
Southern Silver Exploration Corp.
(TSXV: SSV) (OTCQX: SSVFF) ("Southern Silver" or the "Company") is pleased to announce that its
shares of common stock will begin trading on the
OTCQX Best Market,
effective today, under the ticker
symbol
"SSVFF."
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for
the company on
www.otcmarkets.com
. The OTCQX Best Market is the highest market tier of OTC
Markets on which 10,000 U.S. and global securities trade. Trading on OTCQX will enhance the visibility
and accessibility of the Company to U.S. investors. Southern Silver's common shares will continue to
trade on the TSX Venture Exchange under the symbol SSV.
The OTCQX Best Market provides value and convenience to U.S. investors, brokers and institutions
seeking to trade SSVFF. The OTCQX Best Market is OTC Markets Group's premier market for
established, investor-focused U.S. and international companies. To be eligible, companies must meet
high financial standards, follow best practice corporate governance, demonstrate compliance with U.S.
securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.
Lawrence Page, Q. C., President and Chief Executive Officer of Southern Silver stated, "We are
extremely pleased to have met the qualifications for the OTCQX where we will now be able to enhance
our liquidity while strengthening our shareholder base. We look forward to engaging with new US
investors as we continue to develop the Company for the benefit of all stakeholders."
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. 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. The Company engages in the acquisition, exploration and development either directly or through
joint-venture relationships in mineral properties in major jurisdictions. Our property portfolio also includes
the Oro porphyry copper-gold project located in southern New Mexico, USA.
Cerro Las Minitas Project
The Cerro Las Minitas project is an advanced exploration stage polymetallic Ag-Pb-Zn-Cu Skarn/CRD
project located in southern Durango, Mexico which as of May 9th, 2019 contains a Mineral Resource
Estimate, at a 175g/t AgEq cut-off, of(1)
Indicated - 134Moz AgEq: 37.5Moz Ag, 40Mlb Cu, 303Mlb Pb and 897Mlb Zn
Inferred - 138Moz AgEq: 45.7Moz Ag, 76Mlb Cu, 253Mlb Pb and 796Mlb Zn
A total of 150 drill holes for 67,375metres have been completed on the CLM Project with exploration
expenditures of approximately US$27.0 million equating to exploration discovery costs of approximately
C$0.09 per AgEq ounce to the end of 2020.
Exploration on the property continues with two drills targeting the east side of the Cerro and has now
completed 38 core holes totalling 14,759 metres since restarting drilling in September 2020. Over 650
metres of strike length has been tested along the east side of the Cerro to depths of up to 500 metres.
Three bonanza grade mineralized zones have been identified with over 250 metres of strike-length
remaining to be tested.
The CLM Project remains one of the largest undeveloped silver-lead-zinc projects in the World and is
wholly owned, unburdened by royalties, fully financed and fully permitted.
Oro Project
The Oro Project is a 100% owned porphyry copper-gold property, located in southwestern New Mexico,
USA, which includes patented land, State leases and BLM mineral claims totalling 22.3 sq. km., within
the eastern extension of the prolific Arizona Copper Belt. The property covers a large zoned, district-
scale, Laramide-age mineralizing system containing a number of highly prospective copper-
molybdenum and distal sediment-hosted, oxide-gold targets. Southern has spent over $3 million in
exploration on the property since acquisition in 2007 which includes surface mapping and sampling,
airborne geophysics, 17 Reverse Circulation holes and 9 core holes.
Targeting has been finalized and permits are pending for a six core hole, 4,000m drill program,
designed to test several of the copper-molybdenum porphyry and copper-gold skarn targets within a
broad quartz-sericite-pyrite alteration zone, interpreted to overlie an unexposed porphyry centre. Drilling
is expected to commence in Q3, 2021.
1
.
The 2019 Cerro Las Minitas Resource Estimate was prepared following CIM definitions for classification of Mineral Resources. Resources
are constrained using mainly geological constraints and approximate 10g/t AgEq grade shells. The block models are comprised of an array
of blocks measuring 10m x 2m x 10m, with grades for Au, Ag, Cu, Pb, Zn values interpolated using ID3 weighting. Silver and zinc equivalent
values were subsequently calculated from the interpolated block grades. The model is identified at a 175g/t AgEq cut-off, with an indicated
resource of 11,102,000 tonnes averaging 105g/t Ag, 0.10g/t Au, 1.2% Pb, 3.7% Zn and 0.16% Cu and an inferred resource of 12,844,000
tonnes averaging 111g/t Ag, 0.07g/t Au, 0.9% Pb, 2.8% Zn and 0.27% Cu. AgEq cut-off values were calculated using average long-term
prices of $16.6/oz. silver, $1,275/oz. gold, $2.75/lb. copper, $1.0/lb. lead and $1.25/lb. zinc. Metal recoveries for the Blind, El Sol and Las
Victorias deposits of 91% silver, 25% gold, 92% lead, 82% zinc and 80% copper and for the Skarn Front deposit of 85% silver, 18% gold,
89% lead, 92% zinc and 84% copper were used to define the cut-off grades. Base case cut-off grade assumed $75/tonne operating,
smelting and sustaining costs. All prices are stated in $USD. Silver Equivalents were calculated from the interpolated block values using
relative recoveries and prices between the component metals and silver to determine a final AgEq value. The same methodology was used
to calculate the ZnEq value. Mineral resources are not mineral reserves until they have demonstrated economic viability. Mineral resource
estimates do not account for a resource's mineability, selectivity, mining loss, or dilution. The current Resource Estimate was prepared by
Garth Kirkham, P.Geo. of Kirkham Geosciences Ltd. who is the Independent Qualified Person responsible for presentation and review of the
Mineral Resource Estimate. All figures are rounded to reflect the relative accuracy of the estimate and therefore numbers may not appear to
add precisely.
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 and
is responsible for the presentation of the technical information in this disclosure.
On behalf of the Board of Directors
"Lawrence Page"
Lawrence Page, Q.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
.
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. 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.
Southern Silver Exploration Corp. does not assume any
obligation to update or revise its forward-looking statements, whether as a result of new information,
future events or otherwise, except to the extent required by applicable law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/84484