Southern Silver Exploration Corp. [SSV-TSXV; SSVFF-OTCQB; SEG1-FSE; SSVCL-Santiago] reported further assay results from the Mina La Bocona target on the 100%-owned Cerro Las Minitas project, Durango, north-central Mexico.
These latest drill results are from the North Felsite chimney, an area located approximately 400 metres to the northwest of the La Bocona and Mina Pina shafts along the eastern side of the Cerro.
The newly released polymetallic sulphide intercepts from the Mina La Bocona target area include a 1.2-metre interval (0.8 metres est. TT) averaging 760 g/t silver, 23.2% lerad and 17.4% zinc (2,169 g/t silver equivalent – AgEq) within a 2.7-metre interval (1.9 metres est. TT) averaging 599 g/t silver, 16.9% lead and 10.2% zinc (1,530 g/t AgEq) from drill hole 21CLM-175; a 0.7-metre interval (0.4 metres est. TT) averaging 313 g/t silver, 0.3 g/t gold, 7.0% lead and 1.3% zinc (1,011 g/t AgEq) from drill hole 21CLM-172.
These recent results were returned from an area 200 metres along strike and to the northwest of previously reported sulphide intercepts from 21CLM-167 (1.3m of 513g/t AgEq) and 21CLM-164 (10.8m of 234 g/t AgEq and have now extended the projection of mineralization beyond the newly modelled La Bocona deposit and into the North Felsite Target area. Mineralization remains open along strike and at depths below 250 metres.
Exploration on the CLM property continues with one drill operating. Five additional drill holes totalling 2,093 metres have now been completed in the North Felsite target area, down dip and along strike of the high-grade intercept identified in hole 21CLM-175 reported above. Five holes totalling 1,975 metres have also been completed on the El Sol concession located 2,500 metres to the northwest of the La Bocona deposit as part of the company’s Greenfields exploration program. Here, drilling targeted northwest and northeast-trending mineralized structures identified in earlier surface mapping and sampling. Assay results from these additional ten holes are pending and publication is anticipated over the coming weeks.
Rob Macdonald, Vice President Exploration stated: “These latest assay results demonstrate the continued exploration potential of the CLM project with drilling at the North Felsite target showing a potential promising extension to the already significant mineral resources identified in the La Bocona deposit while new target areas such as those on the EL Sol concession continue to be developed. Drilling continues and further assay results are anticipated over the coming weeks.”
The company property portfolio also includes the Oro porphyry copper-gold project located in southern New Mexico, USA. Targeting has been finalized and bonding pending for a 4,00-metre drill program, designed to test several copper-molybdenum porphyry and copper-gold skarn targets within a broad quartz-sericite-pyrite alteration zone, interpreted to overlie an unexposed porphyry centre. Drilling is planned to commence in Q1, 2022.
The Cerro Las Minitas project as of October 27, 2021 contains a Mineral Resource Estimate, at a $60/t NSR cut-off, of Indicated – 137Moz AgEq, for 42.1Moz silver, 44Mlbs copper, 358Mlb lead and 895Mlb zinc. Inferred Resources are 198Moz AgEq, for 73.6Moz silver, 98Mlb copper, 500Mlb lead and 1,009Mlb zinc.