Southern Silver Exploration Corp (TSX-V:SSV, OTCQX:SSVFF) has said drilling continues to extend high-grade silver-polymetallic mineralization at the newly identified North Felsite Target on the Cerro Las Minitas project, Durango, Mexico.
The North Felsite target is an area located approximately 400 metres (m) to the northwest of the La Bocona and Mina Pina shafts on the eastern side of the Cerro, in an area that was not included in the most recent NI43-101 Mineral Resource update on the property.
In a statement, Rob Macdonald, Southern Silver vice president Exploration commented: “The identification of a significant new lens of mineralization on the north side of the Cerro highlights the continued exploration potential of the property. Drilling resumed in January and will continue the process of resource expansion while work proceeds on the development of a Preliminary Economic Assessment of the Cerro las Minitas project due in Q2 2022.”
The newly released polymetallic sulphide intercepts from the North Felsite target area include:
- a 3.8m interval (3.0m est. TT.) averaging 354 grams per ton (g/t) silver (Ag), 0.7 g/t gold (Au), 6.1% lead (Pb) and 2.6% zinc (Zn) - 713 g/t gold equivalent (AgEq) - within a 14.8m interval (11.8m est. TT.) averaging 185 g/t Ag, 0.2 g/t Au, 2.8% Pb and 1.0% Zn (336 g/t AgEq) from drill hole 21CLM-177;
- a 0.7m interval (0.5m est. TT.) averaging 914 g/t Ag, 2.1 g/t Au, 7.2% Pb and 4.8% Zn (1,604 g/t AgEq) within a 5.1m interval (3.7m est. TT.) averaging 174 g/t Ag, 0.5 g/t Au, 1.5% Pb and 0.9% Zn (310 g/t AgEq) from drill hole 21CLM-181; and
- a 4.4m interval (3.2m est. TT.) averaging 379 g/t Ag, 0.5% copper (Cu), 1.7% Pb and 2.6% Zn (595 g/t AgEq) within a 8.0m interval (5.7m est. TT.) averaging 234 g/t Ag, 0.3% Cu, 1.1% Pb and 2.0% Zn (384 g/t AgEq) from drill hole 21CLM-181
The current drilling tested down-dip of previously reported intercepts from drill holes 21CLM-175 (1.9m est. TT of 1,530 g/t AgEq and 21CLM-172 (0.4m est. TT. of 610g/t AgEq) and now extends the projection of mineralization within the North Felsite zone to over 400m below surface and upwards of 250m along strike, making it a potentially substantial discovery.
More drilling remains to be completed on this target including lateral and down-dip step-outs of this newly identified lens of mineralization which will form the basis of further exploration on the property in 2022.
Drilling resumed on the property in early January 2022. As part of these new exploration efforts, three additional holes were completed on the El Sol claim to follow-up on recently reported high-grade mineralization in 21Sol-003 (3.5m of 932 g/t AgEq). Assays from these three holes are pending and anticipated over the coming weeks. Eight holes totaling 2,920m have been completed on the El Sol concession in 2021-22.
Drilling has now resumed on the North Felsite target. Initial drilling will step-out from hole 21CLM-181 as it targets additional mineralization both along strike and at depth. Ten drill holes totalling 3,896m were completed in the North Felsite target area in the Fall of 2021.
Southern Silver is an exploration and development company with a focus on the discovery of world-class mineral deposits. Its specific emphasis is the 100% owned Cerro Las Minitas silver-lead-zinc project located in the heart of Mexico’s Faja de Plata, which hosts multiple world-class mineral deposits such as Penasquito, Los Gatos, San Martin, Naica and Pitarrilla.
The company has assembled a team of highly experienced technical, operational and transactional professionals to support its exploration efforts in developing the Cerro Las Minitas project into a premier, high-grade, silver-lead-zinc mine. The company engages in the acquisition, exploration and development either directly or through joint-venture relationships in mineral properties in major jurisdictions.
Contact the author at jon.hopkins@proactiveinvestors.com