Southern Silver Hits High-Grade Extension at Cerro Las Minitas Returning 12.5m (est. TT) Grading 154g/t Ag, 2.0g/t Au, 3.2% Pb, and 3.9% Zn (558g/t AgEq; 15.7% ZnEq) in Recent Drilling
Southern Silver Hits High-Grade Extension at Cerro Las
Minitas
Returning 12.5m (est. TT) Grading 154g/t Ag, 2.0g/t Au, 3.2% Pb, and 3.9% Zn
(558g/t AgEq; 15.7% ZnEq) in Recent Drilling
Vancouver, British Columbia--(Newsfile Corp. - July 25, 2017) -
Souther
n Silver Exploration Corp.
(TSXV: SSV) (OTCQB:
SSVFF) (FSE: SEG1) ("Southern
Silver
")
reported today that it continues to identify high-grade mineralization from the
current core drilling program on the
Cerro Las Minitas project
, Durango State, Mexico. Recent drilling has identified two thick
intervals of mineralization in hole 17CLM-101 opening up the potential for significant extensions to the Blind Zone and Skarn
Front deposits to the southeast of their currently drill extents.
Highlights from hole 17CLM-101 include:
a
17.6m
down hole interval (
12.5
m est. True Thickness) averaging
154
g
/t
Ag,
2.0
g/t Au
,
3.2
% Pb and
3.9
% Zn
(
558
g/t AgEq;
15.7
% ZnEq)
starting at 229.9m downhole,
including a
higher grade
4.2
m interval (
3.0
m est. TT)
averaging
329
g/t Ag,
4.6g/t A
u,
7.4
% Pb and
7.3
% Zn (
117
5
g/t AgEq;
33.
2
% ZnEq)
; and
a
10.1
m down hole interval (
9.2
m est.
TT
) averaging
2
20
g/t Ag,
0.3
% Cu,
3.6
% Pb and
5.4
% Zn
(57
4
g/t AgEq;
16.2% ZnEq)
starting at 462.5m down hole,
including a
higher grade
2.3
m interval (2.
1
m est. TT) averaging
373
g/t Ag,
0.9
% Cu,
7.4
% Pb and
10.3
% Zn (1
089
g/t AgEq;
30.7
% ZnEq)
.
The upper mineralized intercept in hole 17CLM-101 is spatially related to thick intervals of monzonite/felsite and appears to be
the southeast extension of the Blind Zone deposit. The deeper intercept is an approximate 125 metre lateral offset from
mineralization in 11CLM-025 (10.8m down hole of 182g/t Ag, 0.5% Cu, 1.6% Pb and 6.4% Zn) and is localized along the
leading edge of the skarn surrounding the Central Intrusion (Skarn Front zone). Neither hole 11CLM-025 nor the hole located
immediately to the southeast of 17CLM-101 (12CLM-040) tested the Blind Zone target.
Results from hole 17CLM-101 are significant in:
the identification of relatively shallow, precious-metal-enriched mineralized intervals in two separate zones which remain
open and largely untested for over 500 metres laterally to the southeast and for up to 500m down dip from hole 17CLM-
101; and
the identification of gold values (up to 4.6g/t Au over 3.0m est. TT) in the upper interval which is of particular geological
interest in further enhancing the value of the newly discovered intercept.
Approximately 10,650 metres in 14 drill holes has now been completed in the planned US$2 million 2017 exploration program.
Drilling will continue through July on both the North Skarn target and extensions of the Blind and Skarn Front zones to the
southeast.
Table 1: Select Composites from 2016-17 Drilling on the Cerro Las Minitas Property
Hole #
From
(m)
To
(m)
Interval
(m)
Est.Tr.Thk.
(m)
Ag
(g/t)
Au
(g/t)
Cu
(%)
Pb
(%)
Zn
(%)
AgEq
(g/t)
ZnEq
(%)
Comments
17CLM-101
229.9
247.4
17.6
12.5
154
2.0
0.2
3.2
3.9
558
15.7
Dilution - 31.3%
inc.
229.9
232.9
3.0
2.1
269
0.9
0.8
4.7
5.6
769
21.7
and inc.
235.4
241.0
5.7
4.0
261
4.0
0.2
6.0
6.9
999
28.2
and inc
235.4
239.5
4.2
3.0
329
4.6
0.2
7.4
7.3
1175
33.2
17CLM-101
263.8
265.4
1.6
1.1
88
0.7
0.0
0.4
0.4
169
4.8
17CLM-101
270.9
274.1
3.2
2.3
84
0.9
0.1
1.5
1.9
276
7.8
inc.
272.2
274.1
1.9
1.4
114
1.2
0.1
2.0
2.7
374
10.6
17CLM-101
452.5
462.6
10.1
9.2
220
0.0
0.3
3.6
5.4
574
16.2
inc.
456.9
459.2
2.3
2.1
373
0.1
0.9
7.4
10.3
1089
30.7
17CLM-099
731.15
734.50
3.35
2.50
55.4
0.01
0.02
1.7
0.7
140.5
4.0
inc.
731.15
732.15
1.00
0.75
112.0
0.02
0.02
3.3
0.1
232.4
6.6
17CLM-100
714.15
715.40
1.25
0.60
7.7
0.01
0.01
0.0
2.3
89.5
2.5
17CLM-100
723.10
724.70
1.60
0.77
3.5
0.00
0.01
0.0
2.4
90.2
2.5
17CLM-100
727.65
728.95
1.30
0.62
1.8
0.00
0.01
0.0
2.5
92.5
2.6
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.
Cannot view this image of Figure 1?
Please visit
http://orders.newsfilecorp.com/files/5344/28116_a1500911269811_33.jpg
to view this image
Figure 1: Plan Map showing the distribution of Drill Holes at Cerro Las Minitas for the 2017
c
ore drilling program
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 as of March 21
st
, 2016
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 104 drill holes for 46,351 metres have now been completed on the Cerro Las Minitas project with exploration
expenditures of approximately US$10.8 million.
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.