Southern Silver Initiates Drilling and Baseline Data Collection and Related Studies at its Cerro Las Minitas Project in Mexico
Southern Silver Exploration has initiated a new drilling program at its Cerro Las Minitas project in Durango, Mexico. The company plans up to 6,000m of core drilling to test extensions of shallow, high-grade mineralization. The project's current mineral resource includes Indicated resources of 13.3Mt averaging 102g/t Ag, 0.07g/t Au, 0.17% Cu, 1.3% Pb, and 3.1% Zn, and Inferred resources of 23.4Mt averaging 111g/t Ag, 0.14g/t Au, 0.21% Cu, 1.1% Pb and 2.1% Zn. The drilling program aims to demonstrate shallow resource growth potential and enhance project economics, while baseline data collection and various studies are ongoing.
Southern Silver Exploration ha avviato un nuovo programma di perforazione presso il suo progetto Cerro Las Minitas a Durango, Messico. La società prevede fino a 6.000 metri di perforazione per testare le estensioni della mineralizzazione superficiale ad alto grado. L'attuale risorsa minerale del progetto include risorse Indicate di 13,3 milioni di tonnellate con una media di 102g/t Ag, 0,07g/t Au, 0,17% Cu, 1,3% Pb e 3,1% Zn, e risorse Inferred di 23,4 milioni di tonnellate con una media di 111g/t Ag, 0,14g/t Au, 0,21% Cu, 1,1% Pb e 2,1% Zn. Il programma di perforazione mira a dimostrare il potenziale di crescita delle risorse superficiali e a migliorare l'economia del progetto, mentre la raccolta di dati di base e vari studi sono in corso.
Southern Silver Exploration ha iniciado un nuevo programa de perforación en su proyecto Cerro Las Minitas en Durango, México. La empresa planea realizar hasta 6,000 metros de perforación de núcleo para probar las extensiones de mineralización superficial de alta ley. La actual reserva mineral del proyecto incluye recursos Indicados de 13.3Mt con un promedio de 102g/t Ag, 0.07g/t Au, 0.17% Cu, 1.3% Pb y 3.1% Zn, y recursos Inferidos de 23.4Mt con un promedio de 111g/t Ag, 0.14g/t Au, 0.21% Cu, 1.1% Pb y 2.1% Zn. El programa de perforación tiene como objetivo demostrar el potencial de crecimiento de recursos superficiales y mejorar la economía del proyecto, mientras se llevan a cabo la recolección de datos básicos y varios estudios.
사우던 실버 탐사는 멕시코 두랑고에 위치한 세로 라스 미니타스 프로젝트에서 새로운 지하 탐사 프로그램을 시작했습니다. 이 회사는 얕은 고품질 광물화의 확장을 테스트하기 위해 최대 6,000미터의 시추를 계획하고 있습니다. 현재 프로젝트의 광물 자원에는 평균 102g/t Ag, 0.07g/t Au, 0.17% Cu, 1.3% Pb 및 3.1% Zn의 지표 자원 13.3Mt와 평균 111g/t Ag, 0.14g/t Au, 0.21% Cu, 1.1% Pb 및 2.1% Zn의 추정 자원 23.4Mt가 포함됩니다. 이 시추 프로그램은 얕은 자원의 성장 잠재력을 보여주고 프로젝트 경제성을 개선하는 것을 목표로 하며, 기본 데이터 수집 및 다양한 연구도 진행 중입니다.
Southern Silver Exploration a lancé un nouveau programme de forage dans son projet Cerro Las Minitas à Durango, au Mexique. La société prévoit jusqu'à 6 000 mètres de forage en carottage pour tester les extensions de minéralisation superficielle de haute teneur. Les ressources minérales actuelles du projet incluent des ressources Indiquées de 13,3 millions de tonnes avec une moyenne de 102g/t Ag, 0,07g/t Au, 0,17% Cu, 1,3% Pb et 3,1% Zn, et des ressources Inférées de 23,4 millions de tonnes avec une moyenne de 111g/t Ag, 0,14g/t Au, 0,21% Cu, 1,1% Pb et 2,1% Zn. Le programme de forage vise à démontrer le potentiel de croissance des ressources superficielles et à améliorer l'économie du projet, tandis que la collecte de données de base et diverses études sont en cours.
Southern Silver Exploration hat ein neues Bohrprogramm für sein Cerro Las Minitas-Projekt in Durango, Mexiko, gestartet. Das Unternehmen plant bis zu 6.000 Meter Kernbohrung, um Erweiterungen von oberflächlicher Hochgradmineralisierung zu testen. Die aktuellen mineralischen Ressourcen des Projekts umfassen angezeigte Ressourcen von 13,3 Millionen Tonnen mit einem Durchschnitt von 102g/t Ag, 0,07g/t Au, 0,17% Cu, 1,3% Pb und 3,1% Zn sowie geschätzte Ressourcen von 23,4 Millionen Tonnen mit einem Durchschnitt von 111g/t Ag, 0,14g/t Au, 0,21% Cu, 1,1% Pb und 2,1% Zn. Das Bohrprogramm zielt darauf ab, das Wachstumspotenzial der oberflächlichen Ressourcen zu demonstrieren und die Wirtschaftlichkeit des Projekts zu verbessern, während die Baseline-Datensammlung und verschiedene Studien laufen.
- Substantial mineral resource base with 43.4Moz Ag Indicated and 83.4Moz Ag Inferred
- New drilling program initiated to expand existing resources
- 100% ownership of the project
- None.
Vancouver, British Columbia--(Newsfile Corp. - November 18, 2024) - Southern Silver Exploration Corp. (TSXV: SSV) (OTCQX: SSVFF) ("Southern Silver" or the "Company") reports that drilling has commenced on its
Up to 6,000m of core drilling is planned as a initial stage to test further extensions of shallow, high-grade mineralization lateral to the three existing deposits which occur on the eastern and northern margins of the central intrusion (Figure 1).
Previous drilling programs (~96,744 metres) resulted in the following mineral resource as of March 20, 2024 using a
- Indicated - 13.3Mt averaging 102g/t Ag, 0.07g/t Au,
0.17% Cu1.3% Pb, and3.1% Zn totaling 43.4Moz Ag, 32Koz Au, 49Mlb Cu, 374Mlb Pb and 921Mlb Zn; and
- Inferred - 23.4Mt averaging 111g/t Ag, 0.14g/t Au,
0.21% Cu,1.1% Pb and2.1% Zn totaling 83.4Moz Ag, 104koz Au, 111Mlb Cu, 582Mlb Pb and 1,106Mlb Zn.
(see Appendix A for reference, mineral resource details and assumptions)
The drilling is designed as a proof of concept to (i) demonstrate continued shallow resource growth potential, and (ii) enhance the economics of the Cerro Las Minitas project. Drilling has commenced on the South Skarn Deposit in areas adjacent to planned underground mine development and will also target down dip extensions of higher-grade mineralized shoots. Drilling will also target resource gaps and down-dip extensions in the North Felsite deposit and shallow, lateral potential adjacent to the Skarn Front deposit.
The Company also reports that work 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.
Figure 1: Plan View of Mineral deposit and target distribution at Cerro Las Minitas
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Figure 2: View looking west of the Eastern Deposits at Cerro Las Minitas showing gaps in the current resource model and further exploration potential at depth
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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
Our property portfolio also includes the Oro porphyry copper-gold project and the Hermanas gold-silver vein project where permitting applications drilling are currently underway, both located in southern New Mexico, USA.
The scientific and technical content of this news release was reviewed and approved by Robert Macdonald, MSc. P.Geo, VP. Exploration, and is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
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 ir@mnxltd.com.
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. 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.
Appendix A: Base Case CLM Mineral Resource Estimate
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1) From Cerro las Minitas Project, NI43-101Tech Report Preliminary Economic Assessment, July 23 2024, by Erin Patterson, Scott Elfin, James Millard, Jason Allen, Garth Kirkham, Arthur Barnes.
2) The current Resource Estimate was prepared by Garth Kirkham, P.Geo., of Kirkham Geosystems Ltd.
3) All mineral resources have been estimated in accordance with Canadian Institute of Mining and Metallurgy and Petroleum ("CIM") definitions, as required under National Instrument 43-101 ("NI43-101").
4) Mineral resources were constrained using continuous mining units demonstrating reasonable prospects of eventual economic extraction.
5) Silver Equivalents were calculated from the interpolated block values using relative recoveries and prices between the component metals and silver to determine a final AgEq value. The same methodology was used to calculate the ZnEq value.
6) Silver Equivalents and NSR$/t values were calculated using average long-term prices of
7) Mineral resources are not mineral reserves until they have demonstrated economic viability. Mineral resource estimates do not account for a resource's mineability, selectivity, mining loss, or dilution.
8) An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
9) All figures are rounded to reflect the relative accuracy of the estimate and therefore numbers may not appear to add precisely.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230360
FAQ
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