Southern Silver Extends High-Grade Mineralization at Cerro Las Minitas Through the Intersection of 8.7m (est. TT) Grading 288g/t Ag, 2.0% Cu, 0.8% Pb, and 1.2% Zn (575g/t AgEq; 16.2% ZnEq) in Recent Drilling
Southern Silver Extends High-Grade Mineralization at
Cerro Las Minitas
Through the Intersection of 8.7m (est. TT) Grading 288g/t Ag, 2.0% Cu, 0.8%
Pb, and 1.2% Zn (575g/t AgEq; 16.2% ZnEq) in Recent Drilling
Vancouver, British Columbia--(Newsfile Corp. - June 12, 2017) -
Souther
n Silver Exploration Corp.
(TSXV: SSV) (OTCQB:
SSVFF) (FSE: SEG1) ("Southern
Silver
")
reported today additional assay results from the 2017 core drilling program on the
Cerro Las Minitas project
, Durango State, Mexico, which identified a thick zone of silver-copper enriched mineralization in
hole 17CLM-098. Highlights from 17CLM-098 include:
a 14.
5
m down hole interval (
8.7
m est. True Thickness) averaging
288
g
/t
Ag,
2.0% Cu,
0.
8
% Pb and 1.2% Zn
(
57
5
g/t AgEq;
16.2
% ZnEq) including a
higher grade 4.
1
m interval (
2.5
m est. TT) averaging
686
g/t Ag,
3.7% Cu,
1.0
% Pb and
1.7
% Zn (
1171
g/t AgEq;
33.1
% ZnEq)
The mineralized intercept remains open to the north and east where it follows the skarn altered margin of the monzonite as it
wraps around the northern edge of the central intrusion. This intercept is an approximate 300 metre step-out from previously
reported high-grade mineralization in
17CLM-095 (
8.0
m
etres
est. TT of
602
g/t Ag,
7.1
% Pb and
17.9
% Zn
)
and now opens
up a new 800 metre strike-length of exploration potential along the North Skarn target.
Mineralization in hole 17CLM-098 occurs in a crackle breccia hosted within the skarn-altered margin of the central intrusion at or
near the transition from skarn into marbleized or re-crystallized limestone (Skarn Front). Further skarn alteration associated with
some sulphide mineralization extends down hole within the monzonite and below the currently reported mineralized interval. This
section of the hole has been sampled and assays are pending.
Assay results from drill holes 17CLM-096 and 17CLM-097 returned narrower intervals of mineralization and seem to form the
western edge of the current target area which remains open to the north and east.
The current 2017 drill program has now identified significant intervals of new mineralization in the Blind Shoulder Target along an
approximate 650m strike-length and widths of up to 350 metres and has been successful in tracing that mineralization beneath
the Blind and El Sol deposits. Geological modelling suggests that intersections between the sub-vertical, northwest-trending
Blind and El Sol mineralized zones and the generally more shallowly dipping, northeast-trending shoulder may localize higher-
grade shoots of mineralization which may be in part responsible for the strong silver-enrichment identified in recent drill results.
Approximately 9,400 metres in 11 drill holes has now been completed in the planned US$2 million 2017 exploration program.
Drilling will continue through June and into July. Further drilling with two core rigs will continue testing the North Skarn target.
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Figure 1: Plan Map showing the distribution of Drill Holes at Cerro Las Minitas for the 2017 core drilling program
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Figure 2: Vertical Longitudinal Section of the Skarn Front Mineralization and the New Target area in the North Skarn
zone
Table 1: Select Composites from 2016-17 Drilling on the Cerro Las Minitas Property
Hole #
From
(m)
To
(m)
Interval
(m)
Est. TT
(m)
Ag
(g/t)
Au
(g/t)
Cu
(%)
Pb
(%)
Zn
(%)
AgEq
(g/t)
ZnEq
(%)
Comments
Blind Shoulder Target
17CLM-098
1086.5
1101.0
14.5
8.7
288
0.0
2.0
0.8
1.2
575
16.2
New
Assays
inc.
1092.6
1096.7
4.1
2.5
686
0.1
3.7
1.0
1.7
1171
33.1
inc.
1095.4
1096.7
1.3
0.8
1415
0.1
5.6
1.6
1.9
2133
60.2
Assays Pending for Lower part of
hole
17CLM-096
958.9
964.6
5.7
3.8
27
0.0
0.1
0.0
1.1
78
2.2
10g/t
AgEq
Cutoff
inc.
961.6
964.6
3.0
2.0
39
0.0
0.2
0.0
2.7
156
4.4
17CLM-096
969.8
978.5
8.7
5.7
23
0.0
0.3
0.1
0.8
87
2.4
10g/t
AgEq
Cutoff
inc.
969.8
971.1
1.3
0.8
58
0.0
0.2
0.4
3.4
211
5.9
17CLM-097
469.6
470.3
0.6
UNK
207
0.2
0.1
4.4
11.7
801
22.6
New
Zone
17CLM-097
1080.6
1082.6
2.0
1.2
131
0.1
0.0
0.3
4.5
308
8.7
New
Assays
inc.
1080.6
1082.1
1.5
0.9
158
0.1
0.0
0.3
5.0
352
9.9
17CLM-097
1093.6
1095.5
1.9
1.1
70
0.7
0.4
0.1
1.4
221
6.2
New Assays
16CLM-091
662.8
677.9
15.1
14.8
39
0.0
0.0
0.1
10.2
411
11.6
Previously
Reported
inc.
667.5
672.3
4.8
4.7
39
0.0
0.1
0.1
23.2
877
24.8
17CLM-094
788.8
802.9
14.1
9.9
49
0.0
0.0
0.3
3.6
186
5.3
Previously
Reported
inc.
788.8
798.6
9.8
6.8
65
0.0
0.0
0.3
5.0
253
7.1
inc.
794.2
798.6
4.4
3.1
92
0.0
0.0
0.4
7.1
361
10.2
17CLM-095
575.5
579.3
3.8
2.9
27
0.0
0.0
0.5
3.0
155
4.4
Previously
Reported
inc.
575.5
576.1
0.6
0.5
115
0.0
0.0
3.0
7.4
479
13.5
17CLM-095
691.3
700.3
9.0
8.0
602
0.1
0.0
7.1
17.9
1488
42.0
Previously
Reported
inc.
693.0
700.3
7.3
6.5
737
0.0
0.1
8.6
21.8
1814
51.2
Previously
Reported
inc.
693.0
696.3
3.4
3.0
981
0.1
0.1
11.7
26.4
2328
65.7
Previously
Reported
Mina La Bocona Target
16CLM-090
163.0
163.6
0.6
0.3
81
0.1
0.0
1.7
0.5
163
4.6
Previously
Reported
17CLM-092
130.7
131.2
0.5
0.3
33
0.1
0.0
0.4
1.3
102
2.9
New
Assays
17CLM-092
241.5
242.1
0.6
0.3
178
0.1
0.0
4.7
2.8
447
12.6
New
Assays
17CLM-092
370.2
371.7
1.6
0.8
36
0.4
0.9
0.0
1.2
201
5.7
New Assays
17CLM-093
284.6
288.3
3.7
1.8
1
0.3
0.0
0.0
0.1
28
0.8
New
Assays
17CLM-093
585.0
586.3
1.3
0.7
75
0.0
0.0
0.5
1.4
142
4.0
New Assays
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, 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
average metal prices of: US$18.2/oz silver, US$1240/oz gold, US$2.8/lbs copper and US$0.91/lbs lead and US$0.94/lbs zinc.
AgEq and ZnEq calculations did not account for relative metallurgical recoveries of the metals. Ore-grade composites calculated
using a 80g/t AgEq cut-off and <20% internal dilution, except where noted; anomalous intercepts calculated using a 10g/t AgEq
cut-off.
Cerro Las Minitas Project
Exploration on the company's flagship Cerro Las Minitas property, Durango Mexico is funded by Electrum Global Holdings L.P.
("Electrum"), which has financed a broad range of exploration activities and has earned a 60% interest in the project through a
US$5.0M earn-in on the property, with Southern Silver acting as operator.
The Cerro Las Minitas project contains an estimated Inferred Resource of
17.5Mozs silv
er and 237Mlbs of lead and
626M
lbs zinc (77.3Mozs AgEq)
and an estimated Indicated Resource of
10.8Mozs silver, 189Mlbs lead and 207Mlbs zinc
(36.5Mozs AgEq)
.
(1)
A total of 93 drill holes for 37,255 metres have been completed on the Cerro Las Minitas project with exploration expenditures of
approximately US$8.6 million spent through to the end of 2016.
About Southern Silver Exploration Corp.
Southern Silver Exploration Corp. is a precious metal exploration and development company with a focus on the discovery of
world-class mineral deposits in north-central Mexico and the southern USA. Our specific emphasis is the 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, 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, along with our partner, Electrum Global Holdings LP,
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.
1
.
The 2016 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 and
AgEq values interpolated using ID
2
weighting. The models identified at a 150g/t AgEq cut-off, an indicated resource of
3,724,000 tonnes averaging 90g/t Ag, 0.05g/t Au, 2.3% Pb, 2.5% Zn and 0.09% Cu and a cumulative inferred resource of
6,611,000 tonnes averaging 82g/t Ag, 0.17g/t Au, 1.6% Pb, 4.3% Zn and 0.2% Cu. Mineral Resource cut-offs are
estimated using an average long-term price of $15/oz silver, $1,100/oz gold, $2.75/lb Cu, $0.90/lb lead and $0.90/lb zinc
and metal recoveries of 82% silver, 86% lead and 80% zinc. AgEq calculations did not account for relative metallurgical
recoveries of the metals. All prices are stated in $USD. Mineral Resources are conceptual in nature and as such do not
have demonstrated economic viability.
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.
Robert Macdonald, MSc. P.Geo, is a Qualified Person as defined by National Instrument 43-101 and responsible for the
supervision of the exploration on the Cerro Las Minitas Project and for the preparation 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.