Southern Silver Files Cerro Las Minitas Technical Report
Southern Silver Files Cerro Las Minitas Technical Report
Vancouver, British Columbia--(Newsfile Corp. - February 23, 2018) - Southern Silver Exploration Corp. (TSXV: SSV)
("Southern") reported today that it has filed a technical report ("Report") prepared in accordance with Canadian Securities
Administrators' National Instrument 43-101. The Report may be found under the Company's profile at
www.sedar.com
and on
Southern's website
www.southernsilverexploration.com
.
The Report, dated February 22, 2018, entitled "NI 43-101 Technical Report, Mineral Resource Estimate for Cerro Las Minitas
Project, Durango State, Mexico" was prepared by Garth D. Kirkham, P.Geo., following the guidelines of NI 43-101 and NI 43-
101F1.
The resource estimate provides updated grade and tonnage estimates for four mineral deposits on the property at the Blind, El
Sol, Las Victorias and Skarn Front zones which have been the focus of much of Southern's exploration activities on the property
since 2011.
Table 1: Base-case Mineral Resource Estimate for CLM Project Utilizing a 175g/t AgEq cut-off value:
Indicated
Zone
Tonnes
(Kt)
Ag
(g/t)
Au
(g/t)
Pb
(%)
Zn
(%)
Cu
(%)
AgEq
(g/t)
ZnEq
(%)
Ag
TrOz
(000's)
Au
TrOz
(000's)
Pb
(Mlbs)
Zn
(Mlbs)
Cu
(Mlbs)
AgEq
TrOz
(000's)
ZnEq
(Mlbs)
Blind Zone
3,168
86
0.05
1.8
2.1
0.11
279
5.9
8,739
6
128
145
8.0
28,461
414
El Sol
1,150
79
0.03
2.0
2.0
0.09
276
5.9
2,931
1
51
52
2.3
10,217
149
Las Victorias
708
122
0.70
2.0
2.5
0.23
403
8.6
2,772
16
32
38
3.5
9,177
133
Skarn Front
5,109
115
0.07
1.0
5.1
0.17
416
8.8
18,915
11
108
578
18.8
68,273
993
Total
10,135
102
0.10
1.4
3.6
0.15
356
7.6
33,356
34
319
813
33
116,127
1,689
Inferred
Zone
Tonnes
(Kt)
Ag
(g/t)
Au
(g/t)
Pb
(%)
Zn
(%)
Cu
(%)
AgEq
(g/t)
ZnEq
(%)
Ag
TrOz
(000's)
Au TrOz
(000's)
Pb
(Mlbs)
Zn
(Mlbs)
Cu
(Mlbs)
AgEq
TrOz
(000's)
ZnEq
(Mlbs)
Blind Zone
503
103
0.33
1.9
3.4
0.07
374
7.9
1,662
5
21
38
1
6,042
88
El Sol
264
61
0.06
1.7
2.5
0.04
263
5.6
515
1
10
15
0
2,233
32
Skarn Front
7,917
73
0.02
0.6
4.7
0.16
332
7.0
18,545
6
100
818
28
84,451
1,228
Total
8,685
74
0.04
0.7
4.5
0.15
332
7.0
20,721
12
131
870
29
92,726
1,349
Notes: The 175g/t AgEq cut-off value was calculated using average long-term prices of $16/oz. silver, $1,200/oz. gold, $2.75/lb.
copper, $1.0/lb. lead and $1.10/lb. zinc and metal recoveries of 82% silver, 86% lead, 80% zinc and 80% copper were used to
define the cut-off grades. The base case cut-off grade assumed $75/tonne operating and sustaining costs. All prices are stated
in $USD.
Resource Highlights
Four separate mineral deposits were modelled in the resource update with the Blind, the El Sol and the Las Victorias deposits
forming sets of sub-parallel, northwest-trending and steeply dipping mineralized zones which extend for over 1000 metres strike
and up to 600 metres depth. The fourth deposit known as the Skarn Front, forms beneath the Blind, El Sol and Las Victorias
deposits and is localized on the outer edge of the skarn alteration zone surrounding the Central Monzonite Intrusion. Thick zones
of higher-grade mineralization cluster at the projected intersections of the Blind and El Sol zones and the Skarn Front, the outline
of which forms an extensive "higher-grade" target area which rakes for over 800 metres diagonally and ranges from 300 to 600
metres in width. Significantly, this target region and other targets along the Skarn Front zone have been only partially drill tested
to date.
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Inferred Resources are
considered too speculative geologically to have economic considerations applied to them that would enable them to be
classified as Mineral Reserves. There is no assurance that any part of the Inferred Resource will be converted to Measured or
Indicated Mineral Resources or ultimately converted to a Mineral Reserve.
201
8
Exploration Program
More detailed drilling is required, particularly to delineate the extent of the higher-grade lenses. Analyses of the block model has
identified several new target areas for drill testing in 2018 as well as the previously described extensions of the Skarn Front in
the Las Victorias and North Skarn Target areas (see NR-18-17, November 6th, 2017).
Mapping and surface sampling on the new CLM West claim group is ongoing. Over 2400 chip and float samples have been
collected on the claims to date which have successfully identified multiple target areas for drill follow-up in Q2, 2018 (see NR-02-
18; February 21, 2018).
Pre-development studies on the project are in progress with initial worked focused on the metallurgical characterization of the
known mineral deposits; the results of which are expected in the coming weeks.
Recent exploration on the company's flagship Cerro Las Minitas property, Durango Mexico has been funded by Electrum Global
Holdings L.P. ("Electrum"), which has now earned a 60% indirect interest in the property through a US$5.0M earn-in on the
property, with Southern Silver acting as operator of the on-going joint venture operations.
A total of 108 drill holes for 49,348 metres have now been completed on the Cerro Las Minitas project with exploration
expenditures of approximately US$15.1 million to the end of December 2017 with an exploration cost of $0.07 per AgEq ounce.
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, Los Gatos 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. The Oro property consists of patented land, State leases and BLM located mineral claims which
cover a highly prospective quartz-sericite-pyrite alteration zone, interpreted to overlie an unexposed porphyry center and distal
sediment-hosted, oxide-gold target.
Robert Macdonald, MSc., P.Geo., is a Qualified Person as defined by National Instrument 43-101 and he is responsible for the
supervision of the exploration on the Cerro Las Minitas Project and for the preparation and review of the technical results in this
disclosure. Garth Kirkham, P.Geo., and Principal of Kirkham Geosciences Limited is the Independent Qualified Person
responsible for the preparation and disclosure of the Mineral Resource Estimate.
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.