www.southernsilverexploration.com
Southern Silver Exploration Corp. (SSV-TSX.V; SEG-FRANKFURT) is a publicly traded Canadian-based precious and base metals exploration company. The company’s management team and professional staff have expertise in the acquisition, exploration and responsible development of potential world-class mining ventures in Mexico, New Mexico and Arizona. In New Mexico, the Oro project is a 1,150-hectare gold, silver, copper, lead and zinc project with excellent potential for new discovery. Drilling of the Oro Project is currently underway with results expected in Q2 of 2010.
In Mexico the company’s gold/copper Minas de Ameca project encompasses a 320 sq. km claim package in a 25 kilometer long mineralized trend in Jalisco State and the Pinabete project, a silver-zinc-lead Carbonate Replacement Deposit (CRD) deposit located in Chihuahua State. As well, the company’s has highly-prospective projects in Arizona. The company’s Arizona project is the Dragoon copper/molybdenum property located approximately 100 kilometres southwest of Tucson.
Southern Silver Exploration acquires two New Mexico State land leases for Oro project
Canada-based precious and base metal exploration company Southern Silver Exploration Corp (TSX VENTURE: SSV) (FRANKFURT: SEG) has acquired the lease for two parcels of New Mexico State land, which are critical to the further evaluation of its Oro property, it said.
Southern Silver ceased exploration activities on the property after completing its five-hole, 1645-metre diamond drill program earlier this year, and delayed the release of drill results pending the outcome of the New Mexico land auction, which had been postponed by the State several times.
The newly acquired leases will allow testing of several targets that historically has been hampered by fragmented land holdings in the District, the company said.
In 2006, the company began a program of land consolidation with an option to purchase BLM claims and a contract to purchase patented claims upon which historic mines have been worked to the water table.
With the acquisition of these two state leases, Southern Silver has essentially consolidated the land package over the historic district to allow for a full geological evaluation of the area.
The company's previous work, which included geological mapping, surface sampling and the drilling program, identified three types of potential deposits at Oro: bulk-tonnage, intrusion-related gold mineralization; deeply buried copper porphyry; and polymetallic replacement/skarn deposits.
Two of the holes tested to date are particularly encouraging because they intersected thick intervals of anomalous metals associated with silicified and pyritized hornfels, skarn, and intrusions.
Hole OR10-001 tested an area close to an exposed intrusion, which is believed to be genetically related to mineralization, and it intersected strong skarn and hornfels alteration with anomalous Zn, Pb, Ag, and Cu near the top of the hole and a thick zone of anomalous Cu deeper.
Hole OR10-002 intersected strongly silicified limestone and altered dikes that contain several intervals of anomalous gold, including 5.2m of 1.15g/t Au and 0.38% Zn. Arsenic, a pathfinder element, is also strongly anomalous in this hole.
The company plans to conduct geophysical surveys upon the mobilization of the contractors, as well as follow-up with diamond drilling after new sites have been chosen and permitted. This program is expected to be completed by late Winter of 2011.
The lease acquisitions increases the Oro project area to 1,127 hectares.
