Southern Silver Hits 6.8 metres of 153g/t Ag, 1.47% Pb and 1.01% Zn at Cerro Las Minitas
May 11 2011 - 9:15AM
Marketwired
Southern Silver Exploration Corp. (TSX VENTURE: SSV)(FRANKFURT:
SEG) reported today that silver- enriched mineralized intercepts
were returned from each of the first three holes from its 2011 core
hole program on its Cerro Las Minitas Project, Durango Mexico. The
10,980 hectare project includes a 425 hectare area that has been
the subject of historic small-scale mining and a much larger
unexplored gravel covered area.
Highlights from the drilling include:
-- a 6.8 metre interval averaging 153g/t Ag, 1.47% Pb, 1.01% Zn within a
broader 14.7 metre interval averaging 40g/t Ag, 1.02%Pb and 1.01% Zn
from drill hole 11CLM-002,
-- a 0.4 metre interval averaging 382g/t Ag, 6.25% Pb and 1.62% Zn from
drill hole 11CLM-003, and
-- a strongly copper enriched 2.1 metre interval averaging 100g/t Ag, 0.17%
Pb, 3.08% Zn and 1.37% Cu within a 14.0 metre interval averaging 60g/t
Ag, 0.31% Pb, 1.6% Zn and 0.94% Cu from CLM-003.
Southern has now completed five core holes totaling
approximately1500 metres of a planned +3000 metre, Phase I drill
program on the project. The current results are from widely spaced
holes that were designed to provide initial tests of several
different target types on this large polymetallic project. Drill
hole 11CLM-002 tested silver-enriched polymetallic mineralization
along the eastern margin of the intrusive in the area of the La
Bocona Mine. Drill hole 11CLM-003 tested the northern margin of the
intrusive in areas of elevated copper and gold mineralization.
11CLM-001 tested a geophysical target within the main intrusive.
Assays are pending from two drill holes. All composites are
reported as down hole intervals.
At least five additional holes are planned for this initial
Phase of drilling which will help prioritize targeting for more
detailed drilling at specific occurrences located within the 425 ha
area of historic mining and several additional targets derived from
the recently completed 36 line-km surface IP geophysical program
over portions of the property. Surface work on several regional
targets continues.
President Lawrence Page said: "We are extremely encouraged with
these initial assays which validate, in part, the results of
historic drilling and small-scale mining on the project and allow
us to continue the systematic exploration of the many targets
defined on surface and through geophysical methods."
To view accompanying map, click on the following link:
http://media3.marketwire.com/docs/SSVFigure.jpg
Table 1: Summary of Composited Assays from the Cerro Las Minitas Project
---------------------------------------------------------------------------
Collar Data
AZ DIP Depth From To Interval Ag Pb Zn Cu
Hole No. Deg Deg (m) m m m g/t % % %
---------------------------------------------------------------------------
11 CLM-001 45 -60 400 296.2 297.4 1.2 99 0.04 0.05 0.14
---------------------------------------------------------------------------
11 CLM-002 223 -48 198 93.7 94.3 0.6 94 1.64 3.25 0.02
96.5 111.2 14.7 40 1.02 0.65 0.06
inc 99.2 105.9 6.8 153 1.47 1.01 0.11
and 104.0 105.9 1.9 124 2.18 1.09 0.21
135.6 136.9 1.3 170 0.52 0.22 0.06
262.8 263.3 0.4 164 3.28 6.79 0.00
---------------------------------------------------------------------------
11 CLM-003 165 -65 447 283.5 285.7 2.2 85 1.30 0.37 0.02
283.5 283.9 0.4 382 6.25 1.62 0.07
419.6 433.6 14.0 60 0.31 1.60 0.94
inc 419.6 421.7 2.1 100 0.17 3.08 1.37
inc 423.1 424.5 1.4 92 0.46 3.30 1.33
inc 428.8 430.3 1.5 72 0.53 1.56 1.45
inc 432.0 433.6 1.6 62 0.40 1.48 1.25
---------------------------------------------------------------------------
About the Cerro Las Minitas property
The Cerro Las Minitas property comprises 17 concessions which
total 10,980 hectares and an approximate 25 kilometre lineal strike
length.
Mining has been conducted on the property since colonial times
and has identified several types of silver-, lead- and
zinc-enriched massive-sulphide pipes, veins and carbonate-
replacement deposits (CRDs), as well as mineralized skarns at the
margins of a large intrusive body. The Santa Eulalia replacement
deposit (45Mt of 310g/t Ag, 7.1% Zn and 8.2% Pb) and the skarn
deposit of San Martin (60Mt of 118g/t silver, 0.9% copper and 3.9%
zinc) are examples of two major Mexican mines occurring in similar
geological environments(1).
Limited historical drilling on the project by Noranda (not
independently verified by Southern Silver) returned numerous
intervals of higher grade silver and base metals, including: a
11.45 metre interval (down hole) grading 123g/t silver, 1.55% lead
and 7.79% zinc from drill hole NGV-00-02 and a 1.41 metre interval
(down hole) grading 529g/t silver, 6.99% lead and 1.27% zinc from
drill hole NGV-00-06.
The mineralized zones at Cerro Las Minitas have been exploited
to depths of 300 metres and over widths of 60 metres.
About Southern Silver Exploration Corp.
Southern Silver Exploration Corp. is an emerging precious/base
metal exploration company and a member of the Manex Resource Group;
a private company comprised of an exceptional multi-disciplinary
team of professionals with specific expertise in all areas of
exploration, development, corporate finance and public company
administration.
The company's growth strategy is to acquire, explore and develop
high-quality properties in progressive jurisdictions within North
America. Its current projects include the silver-lead- zinc Cerro
Las Mintas project, copper-gold-silver Minas de Ameca, the porphyry
copper- molybdenum Dragoon project in Arizona and the gold-silver
Oro project in New Mexico.
Robert Macdonald (P.Geo) is a Qualified Person as defined by
National Instrument 43-101 and has reviewed and approved the
technical contents of this release.
(1) Southern Silver advises that tonnage and grade of adjacent
properties or those used for comparative purposes may not reflect
the ultimate potential of the Cerro Las Minitas project
On behalf of the Board of Directors
Lawrence Page, President, Southern Silver Exploration Corp.
This news release may contain forward-looking statements
including but not limited to comments regarding the timing and
content of upcoming work programs, geological interpretations,
receipt of property titles, potential mineral recovery processes,
etc. 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, assumptions
regarding 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 market prices, exploitation and exploration
successes, the timing and receipt of government and regulatory
approvals, and continued availability of capital and financing and
general economic, market or business conditions. Southern Silver
Exploration Corp. does not assume any obligation to update or
revise its forward-looking statements, whether as a result of new
information, future events or otherwise, except to the extent
required by applicable law.
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.
Contacts: Southern Silver Exploration Corp. Liana Shahinian
1.888.456.1112 liana@mnxltd.com
www.southernsilverexploration.com
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