Summa Silver Announces Staking of the High-Grade Gold-Silver Kennedy Project, Nevada
Summa Silver Corp. (SSVR) has acquired the Kennedy Project in Pershing County, Nevada through claim staking, consisting of 99 mineral claims covering approximately 2,000 acres. The project is 100% owned by the company and royalty-free.
The Kennedy Project covers a historic mining district with reported high grades of 15 g/t Au and 311 g/t Ag from past surface oxide mining between 1891 and World War II. The property features approximately 22 km of unmined veins that have not undergone modern exploration.
The company views Kennedy as a potential 1M ounce near-surface gold target. While maintaining focus on its Hughes and Mogollon projects, Summa Silver plans a multi-disciplinary exploration program at Kennedy, including geological mapping, soil sampling, and IP geophysics, with drill testing planned for early 2026.
Summa Silver Corp. (SSVR) ha acquisito il Progetto Kennedy nella Contea di Pershing, Nevada, attraverso la registrazione di rivendicazioni, consistenti in 99 rivendicazioni minerarie che coprono circa 2.000 acri. Il progetto è di proprietà al 100% dell'azienda e senza diritti di royalty.
Il Progetto Kennedy copre un distretto minerario storico con alti gradi riportati di 15 g/t Au e 311 g/t Ag provenienti da passate estrazioni superficiali di ossidi tra il 1891 e la Seconda Guerra Mondiale. La proprietà presenta circa 22 km di vene non estratte che non hanno subito esplorazioni moderne.
L'azienda considera Kennedy un potenziale obiettivo d'oro vicino alla superficie di 1 milione di once. Mantenendo l'attenzione sui suoi progetti Hughes e Mogollon, Summa Silver prevede un programma di esplorazione multidisciplinare a Kennedy, inclusi mappatura geologica, campionamento del suolo e geofisica IP, con test di perforazione previsti per l'inizio del 2026.
Summa Silver Corp. (SSVR) ha adquirido el Proyecto Kennedy en el Condado de Pershing, Nevada, mediante la reclamación de derechos, que consiste en 99 reclamaciones minerales que cubren aproximadamente 2,000 acres. El proyecto es 100% propiedad de la empresa y libre de regalías.
El Proyecto Kennedy abarca un distrito minero histórico con altos grados reportados de 15 g/t Au y 311 g/t Ag de la minería de óxido superficial pasada entre 1891 y la Segunda Guerra Mundial. La propiedad cuenta con aproximadamente 22 km de venas no explotadas que no han sido sometidas a exploración moderna.
La empresa ve a Kennedy como un objetivo de oro cercano a la superficie de 1 millón de onzas. Mientras se mantiene enfocada en sus proyectos Hughes y Mogollon, Summa Silver planea un programa de exploración multidisciplinario en Kennedy, que incluye mapeo geológico, muestreo de suelo y geofísica IP, con pruebas de perforación programadas para principios de 2026.
Summa Silver Corp. (SSVR)는 네바다주 퍼싱 카운티에 있는 케네디 프로젝트를 클레임 스테이킹을 통해 인수하였으며, 이는 약 2,000 에이커를 커버하는 99개의 광물 클레임으로 구성됩니다. 이 프로젝트는 회사가 100% 소유하고 있으며 로열티가 없습니다.
케네디 프로젝트는 1891년부터 제2차 세계 대전까지의 과거 표면 산화 광산에서 보고된 15 g/t Au 및 311 g/t Ag의 높은 등급을 가진 역사적인 광산 지역을 포함합니다. 이 자산은 현대 탐사가 이루어지지 않은 약 22 km의 미개발 광맥을 특징으로 합니다.
회사는 케네디를 100만 온스의 근표면 금 목표로 보고 있습니다. 휴즈 및 모골론 프로젝트에 집중하면서, Summa Silver는 케네디에서 지질 지도 작성, 토양 샘플링 및 IP 지구물리학을 포함한 다학제 탐사 프로그램을 계획하고 있으며, 2026년 초에 시추 테스트를 계획하고 있습니다.
Summa Silver Corp. (SSVR) a acquis le Projet Kennedy dans le Comté de Pershing, au Nevada, par le biais de la déclaration de revendications, comprenant 99 revendications minières couvrant environ 2 000 acres. Le projet est détenu à 100 % par l'entreprise et sans redevances.
Le Projet Kennedy couvre un district minier historique avec des teneurs élevées signalées de 15 g/t Au et 311 g/t Ag provenant des anciennes exploitations de surface d'oxyde entre 1891 et la Seconde Guerre mondiale. La propriété présente environ 22 km de veines non exploitées qui n'ont pas été soumises à une exploration moderne.
L'entreprise considère Kennedy comme un potentiel objectif d'or proche de la surface de 1 million d'onces. Tout en maintenant son attention sur ses projets Hughes et Mogollon, Summa Silver prévoit un programme d'exploration multidisciplinaire à Kennedy, y compris la cartographie géologique, l'échantillonnage des sols et la géophysique IP, avec des tests de forage prévus pour début 2026.
Summa Silver Corp. (SSVR) hat das Kennedy-Projekt im Pershing County, Nevada, durch die Beantragung von Ansprüchen erworben, das aus 99 Mineralansprüchen besteht und ungefähr 2.000 Acres abdeckt. Das Projekt gehört zu 100 % dem Unternehmen und ist royaltyfrei.
Das Kennedy-Projekt umfasst ein historisches Bergbaugebiet mit berichteten hohen Gehalten von 15 g/t Au und 311 g/t Ag aus früheren Oberflächenoxidabbauten zwischen 1891 und dem Zweiten Weltkrieg. Das Grundstück verfügt über etwa 22 km unerschlossener Adern, die nicht modern erkundet wurden.
Das Unternehmen sieht Kennedy als potenzielles Ziel für 1 Million Unzen Gold in der Nähe der Oberfläche. Während es sich auf seine Projekte Hughes und Mogollon konzentriert, plant Summa Silver ein multidisziplinäres Explorationsprogramm in Kennedy, einschließlich geologischer Kartierung, Bodenprobenahme und IP-Geophysik, mit Bohrtests, die für Anfang 2026 geplant sind.
- 100% ownership with no royalties
- 22 km of unmined veins identified
- Historic high-grade mineralization: 15 g/t Au and 311 g/t Ag
- Potential 1M oz near-surface gold target
- Low-cost acquisition through claim staking
- Project requires extensive exploration before drilling
- Focus remains on other projects - Kennedy not primary focus
- No modern exploration or systematic drilling completed
Vancouver, British Columbia--(Newsfile Corp. - February 27, 2025) - Summa Silver Corp. (TSXV: SSVR) (OTCQX: SSVRF) (FSE: 48X) ("Summa" or the "Company") is pleased to announce that it has acquired the Kennedy Project, located in Pershing County, Nevada, (the "Kennedy Project" or the "Project") through low-cost claim staking. The Kennedy Project consists of 99 mineral claims spanning approximately 2,000 acres, is
Key Highlights (See attached figure):
- Past Producing District: The Project covers most of the historic Kennedy Mining District in north-central Nevada where minor amounts of gold and silver were produced intermittently from high-grade veins between 1891 and World War II1.
- High Grades Reported: Historic mining focused on near surface oxide mineralization where mined grades were reported to be 15 g/t Au and 311 g/t Ag2. Deeper secondary and sulfide mineralization reportedly remains unmined.
- Undrilled Nevada Vein Field: Approximately 22 km of veins have been traced across the Kennedy Project which have not seen systematic modern exploration.
- Acquisition Thesis: The Kennedy project represents an internally generated prospect that was acquired because it was open for staking and potentially represents a 1M ounce near surface gold target in Nevada.
- Company to Remain Focused on Robust Core Projects: Summa Silver will continue to focus on the Hughes and Mogollon projects where high-grade mineral resource estimates were recently announced.
- Hughes Project Drilling update: The previously announced drill program at the Hughes Project is well underway. All holes completed have intersected zones of quartz veins, stockworks and breccias in aggressive step-outs at the Ruby zone. All assays are pending.
Galen McNamara, CEO, stated: "It's not often that a significantly underexplored high-grade historic mining district in Nevada is open for staking. As many explorers in the state know, multiple important Nevada discoveries have been made by re-evaluating historic mining districts like this. Although we will continue to direct our focus to the Hughes and Mogollon projects, we look forward to advancing the Kennedy Project to drill-ready status in the coming months."
Figure 1: Regional Map of Northern Nevada
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7983/242579_e2638a49a4904941_002full.jpg
Kennedy Project Summary
The Kennedy Project consists of 99 unpatented mining claims located in Pershing County, Nevada, approximately 75 km south of Winnemucca. The Kennedy Project is situated on major aeromagnetic and gravity lineaments which are also spatially associated with the Sleeper gold deposit (Figure 1). Priority exploration targets at the Project consist of high-grade sheeted veins as well as bulk tonnage disseminated and/or stock-work hosted gold-silver mineralization.
The Kennedy district consists of numerous high-grade, gold-silver bearing quartz veins where over 22 km of veins have been traced at surface. Most of historic mining in the Kennedy district was reportedly from the Gold Note mine which was centered on a series of high-angle northwest striking veins traced for over 350 m along strike. Historic mining at Gold Note focused on near-surface (<40 m) oxide mineralization. Deeper secondary sulfide mineralization remains unmined. Mine grades were reportedly as high as 15.5 g/t Au with 311 g/t Ag2.
Exploration Plans
Following staking, a short prospecting and sampling program was completed and results are pending. The Company is now planning a multi-disciplinary exploration program consisting of geological mapping, soil geochemical sampling, and IP geophysics. Data from these programs will be used to prioritize targets for follow-up drill testing, in early 2026.
Corporate Update
In addition, the Company has engaged the services of ICP Securities Inc. ("ICP") to provide automated market making services, including use of its proprietary algorithm, ICP Premium™, in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. ICP will be paid a monthly fee of C
The Company has also engaged Fairfax Partners In. ("Fairfax") to provide investor relations services. Under the agreement which starts immediately, Fairfax will receive a total payment of
Qualified Person
The technical content of this news release has been reviewed and approved by Galen McNamara, P. Geo., the CEO of the Company and a qualified person as defined by National Instrument 43-101.
About Summa Silver Corp
Summa Silver Corp is a junior mineral exploration company. The Company owns a
Follow Summa Silver on Twitter: @summasilver
LinkedIn: https://www.linkedin.com/company/summa-silver-corp/
Website: https://www.summasilver.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Galen McNamara"
Galen McNamara, Chief Executive Officer
info@summasilver.com
www.summasilver.com
Investor Relations Contact:
Giordy Belfiore
Corporate Development and Investor Relations
604-288-8004
giordy@summasilver.com
www.summasilver.com
References
- Wallace, Alan R (2016) The Story of the Kennedy Mining District, Pershing County, Nevada (https://pubs.nbmg.unr.edu/The-story-of-the-Kennedy-mining-district-p/aw1.htm)
- Klopstock, Paul (1913) The Kennedy mining district, Nevada, American Institute of Mining Engineers Bulletin, v. 77. p. 1041-1046
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Cautionary note regarding forward-looking statements
This news release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. These forward‐looking statements or information relate to, among other things: the Company's exploration plans.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the requirement for regulatory approvals; enhanced uncertainty in global financial markets; unquantifiable risks related to government actions and interventions; stock market volatility; regulatory restrictions; the ongoing conflict in Ukraine; and other related risks and uncertainties disclosed in the Company's public disclosure documents.
Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.
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FAQ
What are the reported historic gold and silver grades at SSVRF's Kennedy Project?
How many mineral claims does SSVRF hold at the Kennedy Project?
When does SSVRF plan to begin drill testing at the Kennedy Project?
What is the exploration potential of SSVRF's Kennedy Project?
