Southern Silver Exploration Corp. (TSX VENTURE: SSV)(FRANKFURT:
SEG) reported today that high-grade polymetallic mineralization was
returned from drill assays at the Cerro Las Minitas Project,
Durango, Mexico and that drill testing of a gravel covered IP
geophysical target has identified a new zone of polymetallic
mineralization separate from the previously known and historically
mined ore bodies. The success of these initial drill holes has
prompted a significant expansion of the current drill program.
Selected assays from drill hole 11CLM-006 include:
-- an upper 2.9 metre interval averaging 514g/t Ag, 12.8% Pb, 0.9% Zn
within a broader 9.1 metre interval, from 215.5 to 224.6 metres
downhole, averaging 194g/t Ag, 5.5% Pb and 1.8% Zn
-- a deeper 3.7 metre interval averaging 184g/t Ag, 2.0% Cu, 0.3% Pb and
18.4% Zn within a 17.4 metre interval, from 410.5 to 427.9 metres
downhole, averaging 51g/t Ag, 0.4% Cu, 0.2% Pb and 4.7% Zn
The upper mineralized interval intersected an oxidized
silver-rich zone associated with mineralized felsite dykes located
approximately 100 metres to the west of the Mina Santo Nino shaft
and the contact with the central intrusive body.
The deeper mineralized intercept tested approximately 80 to 100
metres down-dip of the historic Mina Santo Nino workings and
confirms the continued vertical projection at depth of this
strongly silver-enriched, polymetallic chimney.
Two other holes (11CLM-004, -005) tested the northern margin of
the intrusive body and returned anomalous silver and some
base-metal values. Two additional holes (11CLM-007, -008) have been
completed and a third hole is in progress. Southern has now
completed approximately 2500 metres of a planned +3000 metre Phase
I drill program on the project.
The company also notes that potentially significant polymetallic
mineralization has been identified in the recently completed drill
hole 11CLM-008, which represents a new discovery within an IP
geophysical target located under gravel cover approximately 250
metres to the west of the contact with the central intrusive body.
Assays from this hole are still pending and will be released upon
receipt.
President Lawrence Page said: "The identification by diamond
drilling of a blind mineralized body, first located by ground
geophysics and not associated with the existing known ore bodies
currently being exploited validates the company's approach of using
geophysics to identify potential ore bodies throughout the gravel
covered project area which are not associated with surface
outcrops. This discovery now makes all the many untested IP
anomalies within the large land package very legitimate targets to
be explored on an expedited basis."
Positive results to date have lead to the expansion of the
project into a second phase program of 25 to 30 diamond drill holes
totalling 10,000 metres. This new drilling will target specific
occurrences located within the 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.
To view Figure 1, visit the following link:
http://media3.marketwire.com/docs/613SSVfigure1.pdf
Table 1: Summary of Composited Assays from the Cerro Las Minitas Project
-------------------------------------------------------------------------
Hole No. From To Interval Ag Cu Pb Zn
m m m g/t % % %
-------------------------------------------------------------------------
11CLM-004 214.5 219.0 4.5 20 0.4 0.4 ---
-------------------------------------------------------------------------
11CLM-005 182 190 7.8 8.6 --- --- ---
-------------------------------------------------------------------------
11CLM-006 215.5 224.6 9.1 194 0.1 5.5 1.8
220.4 223.3 2.9 514 0.1 12.8 0.9
342.1 343.4 1.3 22 --- 1.0 2.1
410.5 427.9 17.4 51 0.4 0.2 4.7
410.5 411.3 0.7 162 0.4 2.1 10.4
424.2 427.9 3.7 184 2.0 0.3 18.4
-------------------------------------------------------------------------
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. The property is located about 70 kilometres to the
northeast of the city of Durago, Durago State, Mexico and is
accessed easily by road.
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 a 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 and the copper-gold-silver Minas de Ameca in
Mexico, 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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