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 starts phase 2 drilling at Cerro Las Minitas
Southern Silver Exploration Corp. (CVE:SSV) said Monday that it has begun phase two drilling on its Cerro Las Minitas project in Mexico, with one hole having been completed to date. The newly expanded, second phase of drilling anticipates a 30 plus core hole program totalling 10,000 metres. Targets include extensions of the new high-grade zone discovery in hole 11CLM-008, which intersected a 1.8 metre interval averaging 1400 grams per tonne (g/t) silver, 19.7% lead, and 14.5% zinc, within a 3.3 metre interval of 818 g/t silver, 12.9% lead and 10.9% zinc. Southern Silver also noted that potentially significant poly-metallic mineralization has been identified in the recently completed hole 11CLM-011, which targeted a 50 metre offset to the north of the bonanza-grade mineralization identified in hole 11CLM-008. Logging and sampling of the new hole is in progress, the company said. Meanwhile, targets identified from phase one drilling will be focused on in the latter part of the current program. The Cerro Las Minitas property comprises 17 concessions, which total 10,980 hectares and an approximate 25 kilometre lineal strike length. The project is located about 70 kilometres to the northeast of the city of Durango, in Durango State, Mexico. Mining has been conducted on the property since colonial times and has identified several types of silver-, lead- and zinc-enriched types of mineralization. The mineralized zones at Cerro Las Minitas have been exploited to depths of 300 metres and over widths of 60 metres, according to Southern Silver. The Canada-based silver explorer closed the first tranche of a non-brokered private placement financing last month, issuing 14.2 million units at a price of 17 cents each, for gross proceeds of $2.4 million.
Drilling will target specific occurrences located within the area of historic mining, the company said, as well as several additional targets identified from the recent surface IP geophysical program.
