Southern Silver Returns 8.9 metres of 222g/t AgEq in South Skarn Drilling, Cerro Las Minitas Project Mexico
Southern Silver Returns 8.9 metres of 222g/t
AgEq in South Skarn Drilling, Cerro Las
Minitas Project Mexico
Vancouver, British Columbia--(Newsfile Corp. - February 26, 2025) -
Southern Silver Exploration
Corp.
(TSXV: SSV) (OTCQX: SSVFF) (the "Company" or "Southern Silver") reports today that results
from its Q4 '24 "proof of concept" drilling has extended silver-polymetallic mineralization both laterally
and down dip of the South Skarn deposit on the Cerro Las Minitas project, Durango, Mexico.
Six core holes totalling 2395 metres were completed as part of the drill program.
Drilling tested gaps
within the current block model, lateral extensions of the mineralization and successfully intersected thick
intervals of mineralized skarn in a hole which tested the depth projection of the main mineralized shoot of
the South Skarn deposit.
Drilling highlights from hole 24CLM-198 include:
a
0.5 metre interval (est. TT.)
averaging
154g/t Ag
, 0.2g/t Au,
5.6% Cu
and 0.1% Zn (
834g/t
AgEq
) within a
8.9 metre interval (est. TT.)
averaging
97g/t Ag
, 0.1g/t Au,
0.7% Cu
, 0.1% Pb
and 0.7% Zn
(222g/t AgEq)
; and
a
4.0 metre interval (est. TT)
averaging
81g/t Ag
, 0.2g/t Au, 0.1g/t Cu, 0.4% Pb and
3.9% Zn
(
267g/t AgEq
);
Strong gold-enrichment is also identified in several hangingwall intercepts in 24CLM-198 correlating to
zones of mineralization outboard of the more typical, silver-enriched polymetallic mineralization of the
main skarn horizon located adjacent to the central monzonite intrusion. Highlights include:
a
0.9 metre interval (down hole)
averaging
124g/t Ag, 5.2g/t Au
and
4.0% Pb (682g/t AgEq);
and
a
5.1 metre interval (down hole)
averaging
7g/t Ag, 1.8g/t Au (167g/t AgEq)
Figure 1: Plan view of the distribution of the Cerro Las Minitas deposits. Note the South Skarn
deposit on the eastern side of the Central Monzonite intrusion (in purple).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5344/242381_d7cf2e6c84589b76_002full.jpg
Drilling also returned a 3.5 metre (est. TT) sulphide skarn interval in drill hole 24CLM-199 representing
an approximate 175 metre lateral step out from the skarn intercepts in drill hole CLM-198 and returned
shallow gold-enriched oxidized intercepts in several other drill holes.
Vice President of Exploration, Rob Macdonald stated "
This recent drilling successfully demonstrates
both the lateral and down dip extensions of relatively shallow mineralization around the South Skarn
deposit. Similar shallow targets are identified around both the Bocona and North Felsite deposits.
Mineralization also remains open at depth, particularly on the eastern side of the Cerro which with
further exploration, can continue to add high margin mineralization early in the modelled production
scenario."
The Company also reports that work on the Cerro Las Minitas project continues advancing numerous
upside opportunities identified subsequent to the July 2024 PEA, while also derisking and advancing the
project with the commencement of baseline data collection, hydrology, geotechnical, archaeological and
land surveys and studies.
As currently modelled, the Cerro Las Minitas project features a large-scale underground mining
operation with robust project economics and high gross revenues in a well located and mining friendly
jurisdiction in southeast Durango, Mexico. For more information on the details of the current economic
assessment of the Cerro Las Minitas project please refer to Southern Silver's news release dated June
10, 2024.
Figure 2: Longitudinal section looking west of the South Skarn deposit and 2024 drilling pierce
points
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5344/242381_d7cf2e6c84589b76_003full.jpg
Table 1: Select Assay Results from the Cerro Las Minitas project.
Hole #
From
To
Interval
Est. Tr.
Ag
Au
Cu
Pb
Zn
AgEq
Notes
(m)
(m)
(m)
Thck. (m)
(g/t)
(g/t)
(%)
(%)
(%)
(g/t)
24CLM-196
40.2
65.1
24.9
UNK
10
0.6
0.0
0.26
0.16
75
Oxide Au
Zone
24CLM-196
86.1
88.4
2.3
1.8
46
0.0
0.0
0.50
0.54
85
24CLM-196
142.7
144.0
1.3
1.0
17
0.1
0.0
2.84
0.42
130
24CLM-197
149.8
151.6
1.8
1.3
40
0.3
0.6
0.06
0.17
136
24CLM-198
223.4
225.2
1.8
UNK
19
1.0
0.0
0.1
0.1
105
Au Zone
inc.
224.9
225.2
0.3
UNK
51
4.1
0.0
0.1
0.2
393
24CLM-198
259.4
260.3
0.9
UNK
124
5.2
0.0
4.0
0.4
682
Au Zone
24CLM-198
377.3
381.0
3.7
2.6
135
1.0
0.1
0.6
0.3
267
Au Zone
inc.
377.3
378.0
0.7
0.5
473
0.7
0.6
0.4
0.2
628
24CLM-198
481.4
487.0
5.6
4.0
81
0.2
0.1
0.4
3.9
267
24CLM-198
554.4
580.7
26.3
18.5
61
0.1
0.6
0.0
0.4
155
inc.
554.4
567.0
12.6
8.9
97
0.1
0.7
0.1
0.7
222
and inc.
573.0
573.7
0.6
0.5
154
0.2
5.6
0.0
0.1
834
24CLM-199
178.5
183.6
5.1
UNK
7
1.8
0.0
0.14
0.23
167
Oxide Au
zone
24CLM-199
412.2
416.9
4.7
3.5
36
0.2
0.6
0.06
0.04
123
30%
Dilution
inc.
412.2
412.8
0.6
0.4
100
0.7
1.8
0.18
0.12
376
24CLM-201
373.2
373.8
0.6
0.4
415
0.2
1.2
6.24
4.52
934
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$23.00/oz silver, US$1850/oz gold,
US$4.00/lbs copper and US$1.00/lbs lead and US$1.25/lbs zinc. AgEq and ZnEq calculations did not account for relative metallurgical recoveries of
the metals. Ore-grade composites are calculated using a 80g/t AgEq cut-off in sulphide and 0.5g/t AuEq in the oxide gold zone Composites have
<20% internal dilution, except where noted; anomalous intercepts are calculated using a 10g/t AgEq cut-off.
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.
Located in the same State as the Cerro Las Minitas property is the newly acquired Nazas, gold-silver
property. Our property portfolio also includes the Oro porphyry copper-gold project and the Hermanas
gold-silver vein project where permitting applications for the conduct of a drill program is underway, both
located in southern New Mexico, USA.
Robert Macdonald, MSc. P.Geo, is a Qualified Person as defined by National Instrument 43-101 and
supervised directly the collection of the data from the CLM 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
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. Forward-looking statements in this
news release include plans to advance and develop the CLM property and to explore the Nazas
property. These statements are based on a number of assumptions, including, but not limited to,
general economic conditions, interest rates, commodity markets, regulatory and governmental
approvals for the Company's projects, and the availability of financing for the Company's
development projects on reasonable terms.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/242381