Southern Silver Reports Enriched Rare Earth Elements in Hole OR22-012; Extends Claims to Cover New Copper and REE Skarn/CRD Targets at the Oro Project, New Mexico; and Provides Corporate Update
Southern Silver Reports Enriched Rare Earth
Elements in Hole OR22-012; Extends Claims to
Cover New Copper and REE Skarn/CRD
Targets at the Oro Project, New Mexico; and
Provides Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - November 14, 2023) -
Southern Silver Exploration
Corp. (TSXV: SSV) ("Southern Silver" and the "Company")
reports that it has verified enriched
Rare Earth Elements (REEs) in reconnaissance hole OR22-012, which was part of the Company's 2022
drilling program at its wholly owned Oro property, located in the Laramide-age, porphyry copper belt of
southwestern New Mexico, USA. The Company has staked 62 new claims during 2023 to cover the
western extension of the buried porphyry/CRD/Skarn system associated with hole OR22-012. The new
claims increase the total Oro land package to 334 company-owned and seven leased Federal lode
mining claims; two leased New Mexico State parcels; and company-owned private surface and mineral
titles covering an area of about 36 square kilometres.
Rare-Earth Element Results
The Company reports that a review of select light Rare Earth Elements (LREEs) from the earlier MS-ICP
analyses from hole OR22-012 identified strong LREE enrichment. Thirty-nine pulps were selected from
three enriched LREE zones for re-analyses by the more robust analytical method of fusion/ICPMS to
confirm the initial test results and returned:
0.104% TREO (1,045 ppm) over 10.9m starting at 613.9m,
0.091% TREO (913 ppm) over 33.8m starting at 647.4m, and
0.128% TREO (1,285 ppm) over 24.4m starting at 794.0m.
All three zones occur within a 427.2m interval of strongly enriched copper mineralization, which was
previously reported in NR-02-23, dated April 03,2023, and described below. The three zones (see Table
below) average greater than 0.05% Total Rare Earth Oxides (TREOs).
Light REO
ppm
Heavy REO
ppm
From
m
To m
Interval
m
TLREO
%
La2O3
CeO2
Pr2O3
Nd2O3
Sm2O3
Eu2O3
Gd2O3
Tb2O3
Dy2O3
Ho2O3
Er2O3
Tm2O3
Yb2O3
Lu2O3
Y2O3
THREO
%
TREO
%
613.9
615.7
1.7
0.050
195
226
16.4
46.8
7.2
2.1
5.4
0.78
4.6
0.81
2.4
0.32
1.9
0.28
25
0.004
0.053
615.7
618.7
3.0
0.056
233
256
17
44.8
6.4
2.4
5.1
0.66
3.8
0.69
1.8
0.26
1.7
0.24
20
0.003
0.059
618.7
621.8
3.0
0.049
203
219
14
37.3
5.9
2.1
4.6
0.66
3.8
0.79
2.1
0.27
1.8
0.2
22
0.003
0.052
621.8
624.8
3.0
0.227
1005
1045
63
137
10.6
2.8
7.4
1.01
5.6
0.97
2.9
0.34
2.3
0.32
30
0.004
0.231
Interval
(m)
10.9
Average
0.104
647.4
648.9
1.5
0.039
148
177
13.5
39.9
6.4
1.7
6
0.84
4.5
0.87
2.4
0.29
2.2
0.27
27
0.004
0.043
648.9
650.4
1.5
0.086
359
396
26.1
63
8.8
1.9
5.6
0.78
4.5
0.85
3
0.31
2
0.3
25
0.004
0.090
650.4
651.5
1.1
0.074
317
334
21.7
54.8
7.1
1.9
6.1
0.96
5.6
1.15
3.5
0.55
3.3
0.45
37
0.005
0.080
651.5
654.4
2.9
0.069
289
316
20.9
53.9
6.7
2
5.2
0.75
4
0.86
2.2
0.3
1.8
0.22
24
0.003
0.073
654.4
657.4
3.0
0.009
23
37
3.7
14
4.2
1.2
4.1
0.61
3.7
0.73
1.9
0.32
1.8
0.3
22
0.003
0.012
657.4
658.9
1.5
0.005
12
23
2.3
8.7
2.6
0.8
3.1
0.49
2.9
0.65
1.6
0.26
1.7
0.27
19
0.003
0.008
658.9
660.5
1.5
0.016
61
69
4.8
15.3
3.8
1
4.5
0.7
4.4
0.85
2.4
0.34
2.4
0.33
28
0.004
0.020
660.5
662.6
2.1
0.106
461
485
29.8
68.4
8.1
2.1
6.7
0.94
5.4
0.96
2.7
0.38
2.3
0.28
29
0.004
0.110
662.6
664.4
1.8
0.147
645
678
41.5
91.4
9.9
2.1
6.6
0.86
4.7
0.92
2.7
0.33
2.3
0.24
29
0.004
0.152
664.4
665.5
1.1
0.067
287
307
19
45.4
5.5
1.4
4.7
0.7
4.1
0.8
1.9
0.29
1.7
0.19
22
0.003
0.070
665.5
666.0
0.5
0.007
22
29
2.7
9.7
2.3
0.7
2.7
0.38
2.3
0.5
1.6
0.23
1.3
0.16
15
0.002
0.009
666.0
666.6
0.7
0.087
399
397
21.8
42.7
4.1
1.2
3.7
0.53
3.1
0.58
1.7
0.22
1.6
0.16
20
0.003
0.090
666.6
669.0
2.4
0.378
1770
1725
92.8
171.5
11
2.4
6.7
0.96
4.9
0.95
2.6
0.34
2
0.3
29
0.004
0.382
669.0
670.5
1.5
0.135
609
611
34.9
76.4
7.7
2
6.2
0.79
4.9
0.93
2.4
0.29
2
0.31
28
0.004
0.139
670.5
672.1
1.5
0.031
129
140
9.1
24.6
4.4
1.2
3.8
0.58
3.2
0.69
1.7
0.22
1.5
0.18
20
0.003
0.034
672.1
673.6
1.5
0.011
35
42
3.7
16.4
4.9
1.4
4.8
0.78
4.7
0.9
2.5
0.32
2.2
0.28
28
0.004
0.015
673.6
675.1
1.5
0.033
115
154
12.5
38.7
5.8
1.6
4.4
0.64
3.8
0.73
1.9
0.26
1.7
0.24
22
0.003
0.036
675.1
678.1
3.0
0.105
446
490
30.7
69.6
7.1
2.1
4.8
0.7
3.9
0.72
2.3
0.27
1.6
0.2
23
0.003
0.108
678.1
681.2
3.0
0.091
409
419
23.3
48.5
4.1
0.9
2.7
0.36
2.1
0.37
0.9
0.14
0.8
0.08
11
0.002
0.092
Interval
(m)
33.8
Average
0.091
794.0
797.0
3.0
0.265
1170
1240
72.3
151
11.4
1.9
6
0.78
4
0.72
1.9
0.24
1.6
0.23
23
0.003
0.269
797.0
800.1
3.0
0.069
294
322
19.9
46.3
5.7
1.4
4.7
0.62
3.4
0.7
1.6
0.21
1.5
0.25
20
0.003
0.072
800.1
803.1
3.0
0.092
388
424
26
62.2
7.9
2
6.3
0.83
4.5
0.79
2.3
0.31
1.8
0.24
25
0.004
0.095
803.1
806.2
3.0
0.177
793
825
44.7
87.1
8.1
1.7
5.5
0.73
4
0.78
1.8
0.27
1.8
0.28
23
0.003
0.180
806.2
809.2
3.0
0.202
927
935
50.4
94.6
8.2
1.7
5.6
0.74
4
0.71
1.9
0.29
1.7
0.23
22
0.003
0.205
809.2
812.3
3.0
0.087
373
404
24.6
56.7
7.4
1.6
5.8
0.9
4.8
0.88
2.5
0.35
2.3
0.3
27
0.004
0.091
812.3
815.3
3.0
0.048
161
226
18.7
58.8
9.6
1.7
7.7
0.98
6.3
1.24
3.5
0.46
2.8
0.44
34
0.005
0.053
815.3
816.6
1.3
0.067
247
316
23.4
67.2
10.7
1.9
8.1
0.93
6.1
1.16
3.3
0.48
2.8
0.44
34
0.005
0.072
816.6
818.3
1.7
0.052
220
242
14.7
34.5
5.1
1.2
3.7
0.4
3.1
0.65
1.9
0.27
1.7
0.26
20
0.003
0.055
Interval
(m)
24.4
Average
0.128
Table of REO values from three REE-enriched zones in core hole OR22-012. Fusion/ICPMS.
Consultant Joe Kizis commented,
"The mineralization in hole OR22-012 was initially very encouraging
to us because it demonstrates the importance of favorable carbonate host rocks in developing strong
copper mineralization. Perhaps importantly, REEs are not enriched in other portions of the Oro
property, even within well zoned, but weak, copper porphyry -style mineralization and may thus
indicate the porphyry system we believe lies to the west of OR22-012 is unique compared to other
porphyries on the property.
More study will be required before we know if there is potential for byproduct REE's at Oro. There are
16 separate rare earth elements contained within at least 245 separate minerals, so metallurgy is very
important to understanding the economic possibilities of these potential byproducts. One easily
leached REE deposit in the US reports an average grade of 0.06% TREO and is being considered for
economic development. However, these lowest grade deposits have a higher percentage of HREEs
than we have seen at Oro to date, as well as other coproducts. REEs have many uses, ranging from
additives to batteries, magnets, automobile windshields, and ceramics to processing petroleum. With
about 90% of REEs being sourced from China, it's not surprising that the US, Canada, and other parts
of the world consider REEs as Critical Minerals. With the newly acquired ground, we now have the
room to develop these exciting targets."
Drill Hole OR22-012
Drill hole OR22-012
tested a strong ZTEM geophysical anomaly in an area believed to be relatively
high in the metal system where mapping, geochemistry and geophysical data suggests a porphyry
system lies at depth to the west on the newly stake ground.
The REE-enrich intervals occur within a broad 427.7m* Cu-enriched mineralized zone averaging 0.15%
CuEq* (0.08% Cu, 0.01% Mo, and 1.4g/t Ag) and starting at 578.6m downhole (see NR-02-23, dated
April 03, 2023).
Within the broader mineralized zone, OR22-012 intersected veins with strongly
anomalous gold (
12.4 g/t over 0.8 metres* at 495.7 metres depth
) in a banded anhydrite + pyrite +
calcite breccia vein and, deeper in the hole, intersected anomalous silver and lead (
908 g/t Ag and
10.4% Pb over 0.2 metres* at 594.6 metres depth
) in a barite + galena vein, consistent with expected
metal zoning. Favourable carbonate host rocks were intersected with abundant sulphide minerals below
a 6-metre-thick massive anhydrite vein at roughly 590-metres depth. The strongest mineralization is
9.1
metres* of 0.59% Cu, 0.01% Mo, 0.3 g/t Au, and 2.3g/t Ag (0.92% CuEq*)
from 834.5 to 843.7
metres in a carbonate replacement zone with abundant magnetite, specular hematite, and epidote with
minor pyrite, calcite, and anhydrite. Dikes ranging from unaltered to strongly altered are common
throughout the hole.
*Note- Estimated true thickness is unknown at this time. Equivalent values are calculated based on
prices of $1700/oz Au, $20/oz Ag, $3.25/oz Cu, $1/lb Pb, $1.2/lb Zn and $18/lb Mo assuming 100%
metal recoveries.
QA/QC Procedures
Core was logged and marked for cutting and sampling at Southern Silver's Hachita secure core shed,
then picked up by Skyline Assayers & Laboratories and delivered to their Tucson, Arizona facility where
the core was cut and analyzed. Gold was analyzed by Fire Assay-AAS or gravimetric if overlimit (FA-01
or FA-02) with 47-element ICP/MS multi-acid digestion (TE-5). A QA/QC standard or blank was inserted
at least every 20 samples and 10% of the samples were assayed in duplicate. No issues were identified
in quality control.
Pulps from three intervals averaging +0.05% La + Ce + Y and shoulder samples were submitted to ALS
Chemex in Reno, Nevada and Vancouver, BC where they were homogenized (HOM-01m) and then
assayed for High-grade REE by fusion/ICPMS (ME-MS8h). Comparison of Fusion/ICPMS values to
MS/ICP values of La + Ce + Y only in the three zones are 0%, +22% and +27%, with individual sample
pairs showing more variation. The higher values in the High-grade REE by fusion method reflects the
effect of complete digestion of samples and the addition of Pr and Nd contributions, which were not
analyzed by the non-fusion method.
Land map showing new claims staked at Oro Project, New Mexico
To view an enhanced version of this graphic, please visit:
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Corporate Update
The Company also reports that it is pleased to announce the appointment of Jay Oness as Vice
President, Corporate Development. Mr. Oness has over 25 years of corporate communications,
strategic marketing and corporate development experience and has been a director and officer of
numerous publicly traded North American resource companies. Mr. Oness will be responsible for
general corporate development, and supporting management to evaluate and execute new investment
opportunities.
He is currently serving as the VP of Corporate Development at Malaspina-Manex Group where he is
responsible for overseeing, implementing, and managing various corporate functions and shareholder
programs for public and private companies.
About Oro
The Oro property consists of patented land, New Mexico State leases, and Federal/BLM mineral claims
acquired by purchase, staking and lease over the past several years. Several historic mines produced
copper, lead, zinc, silver, and gold from discrete portions of the amalgamated property. The property
covers a large, well-zoned Laramide-age mineral system consisting of a ring of Carbonate Replacement
Deposits (CRDs) around a core of intense sericite-pyrite alteration, which clay mineralogy indicates is
the lithocap overlying unexposed porphyry centres. Targeting for copper mineralization is based upon
3D modelling of data generated by geologic mapping, historic drill holes, geochemical zoning studies,
alteration clay zoning studies, and geophysical surveys.
Surrounding the CRD zone are distal-disseminated, sediment-hosted, gold showings, such as at the
Stockpond target, where the Company has conducted limited exploratory drilling. The drilling
encountered strongly oxidized, disseminated gold mineralization beneath shallow gravel cover that was
limited by a post-mineral fault which buried potential extensions beneath a thick cover of gravel, and
which remains open for further exploration.
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 either directly or through joint-venture relationships in mineral
properties in major jurisdictions. 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. Our
property portfolio also includes two projects in southern New Mexico: the Oro porphyry/CRD copper-gold
project; and the Hermanas gold-silver vein project, where an application has been submitted for a drilling
program.
Robert Macdonald, MSc. P.Geo, is a Qualified Person as defined by National Instrument 43-101 and
has reviewed and approved the technical disclosure in this news release. Joe Kizis, also a Qualified
Person as defined by National Instrument 43-101, supervised directly the collection of the data from the
Oro 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, K.C.
President & Director, Southern Silver Exploration Corp.
For further information, please visit Southern Silver's website at;
https://www.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.
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