Southern Silver Commences Drilling on the Oro Copper Project, New Mexico; Acquires 100% Interest in the El Sol Claim, CLM Project, Mexico
Southern Silver Commences Drilling on the
Oro Copper Project, New Mexico; Acquires
100% Interest in the El Sol Claim, CLM Project,
Mexico
Vancouver, British Columbia--(Newsfile Corp. - February 28, 2022) -
Southern Silver Exploration
Corp. (TSXV: SSV) ("Southern Silver" and the "Company")
reports that drilling has started on a
4,000-metre diamond drilling program on its wholly owned Oro property, located in southwestern New
Mexico, USA.
The six-hole program will test several copper porphyry and skarn targets which form part of a large, well-
zoned Laramide-age mineral system consisting of a ring of Carbonate Replacement Deposits (CRDs)
around a core of an intensely sericite-pyrite altered lithocap overlying an unexposed porphyry center.
Several sediment-host gold targets have been identified well outboard of the main porphyry center.
Drilling will first test three porphyry copper targets (targets A, B and E; see Figure 1) and then transition
to three copper-skarn targets (targets F, H and D) in the southern part of the property and is anticipated
to take approximately eight to twelve weeks to complete.
Figure 1: Selected Drill Targets (A-H) on the Oro Project
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The Oro Project is a large district play that Southern has systematically consolidated, expanded and
explored since initial acquisition in late 2005. Current drill targeting is based upon 3D modelling of data
generated by geologic mapping, historic drill holes, geochemical zoning studies, alteration clay zoning
studies, and geophysical surveys through this large zoned porphyry-system. The current program follows
initial diamond drilling in 2010-11 which targeted several skarn and CRD targets and two phases of RC
drilling which targeted the Stockpond gold target in 2016-17.
Figure 2: Interpretive Cross-section of Porphyry targets on the Oro Property
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El Sol Claim
The company also reports that it has completed the final payment to Monarca Minerals Inc., acquiring a
100% interest in the El Sol mineral claim, Cerro Las Minitas Project, Durango, Mexico.
Acquisition cost was $US 300,000 payable in three equal instalments with a 2% NSR on production
from the claim with a right in Southern Silver to purchase the royalty at any time for US$1,000,000.
The El Sol claim is largely gravel covered, 63ha in size and is located on the northwestern boundary of
the Bocona block of claims and adjacent to the Area of the Cerro which hosts the six mineral deposits
currently identified by Southern Silver on the Cerro Las Minitas claim package.
Previously reported highlights from the El Sol claim include (see NR-02-22; January 25, 2022) include:
a 0.8 metre interval grading
1,760g/t Ag, 0.9g/t Au, 23.6% Pb and 1.2% Zn (2,622g/t AgEq)
within a
3.5 metre interval averaging 549g/t Ag, 0.3g/t Au, 8.6% Pb and 3.6% Zn (982g/t
AgEq)
from drill hole
21SOL-003
Drill hole 21SOL-003 is one of five holes drilled in the Autumn of 2021 to test a series of targets defined
by surface mapping, rock and soil sampling and proximity to artisanal workings. The highlight interval
intersected down-dip of historic workings located on a northeast-southwest trending structure which has
been traced on surface for up to 300 metres laterally before plunging under gravel cover. Three further
holes (22Sol-006, to -008) were completed on the concession in January 2022. Assays from these holes
are pending with results anticipated in the coming weeks.
Figure 3: Plan Map of the Area of the Cerro showing drilling on the El Sol concession.
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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.
Robert Macdonald, MSc. P.Geo, is a Qualified Person as defined by National Instrument 43-101 and
supervised directly or was part of the team that supervised the collection of the data from the El Sol
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 may contain 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.
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