New Drilling Returns 4.5 Metres of 192g/t Ag, 0.3% Cu, 5.3% Pb and 8.4% Zn at Southern Silver's Cerro Las Minitas Project
October 19 2011 - 9:15AM
Marketwired Canada
Southern Silver Exploration Corp. (TSX VENTURE:SSV)(FRANKFURT:SEG) reported
today that assay results from core drilling continue to expand both the lateral
and down-dip dimensions of the Blind zone, a silver-rich, polymetallic
mineralized zone which forms part of Southern's Cerro Las Minitas project,
located in Durango State, Mexico.
The company reported multiple high-grade intercepts of significant thickness in
three drill holes which offset previously reported bonanza grade mineralization
in drill hole 11CLM-008 which included a 3.3 metre interval averaging 818g/t
silver, 12.9% lead and 10.9% zinc.
Highlights from the current drilling include:
-- a 4.5 metre interval averaging 192g/t silver, 0.3% copper, 5.3% lead and
8.4% zinc within an 11.7 metre interval averaging 113g/t silver, 0.2%
copper, 3.3% lead and 4.9% zinc from drill hole 11CLM-016, and
-- a 5.3 metre interval averaging 54g/t silver, 0.2% copper, 1.5% lead and
2.8% zinc from drill hole 11CLM-014
The drilling is part of a systematic program of lateral and down-dip offsets of
the Blind zone designed to delineate the full dimension of this previously
undiscovered gravel covered target which is outboard of both the main intrusive
stock and the area of historic mining and exploration. The Blind zone is the
first of several buried targets identified on the property through IP geophysics
to be drill tested. The current results demonstrate the increasing possibility
for developing mineral resources of potentially economic significance on the
property.
Drilling on the Blind zone has now tested a 325 metre strike-length and up to a
280 metre depth, with multiple mineralized intercepts in most drill holes and is
open in all directions. Initial drilling has identified a series of monzonitic
to felsic intrusions in the host limestone stratigraphy with mineralization
occurring on the margins of the intrusions. A preliminary interpretation of the
drill data suggests good continuity within two main mineralized horizons
(Footwall and Hangingwall) and several secondary mineralized structures which
may develop, with further drilling into definable mineralized lenses. Assays
from four additional holes completed in the Blind zone are pending.
El Sol Zone
Southern Silver also reported that drill hole 11CLM-015 tested the upper portion
of the El Sol target located about 150 metres to the northeast of the Blind
zone. The drill intercept is a 115 metre vertical offset from a previously
reported deep intercept from drill hole CLM-011 (13.6 metres of 38g/t Ag, 0.1%
Cu, 1.6% Pb, and 1.9% Zn). The El Sol zone crops out on surface and has been
previously worked by artisan miners. The El Sol zone represents another
potentially significant mineralized zone which has received only very limited
drill testing.
Exploration Program
Twenty-one drill holes totalling 5466 metres of an anticipated and fully funded
13,000 metre drill program have been completed on the project to date. Ten holes
have now been completed on the Blind zone and assays for four of these drill
holes are still pending.
Future drilling will target specific occurrences located within the area of
historic mining and several targets derived from the recently completed surface
IP geophysical program.
An updated drill hole plan is available at www.southernsilverexploration.com.
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 Durango, Durango
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).
The mineralized zones at Cerro Las Minitas have been exploited to depths of 300
metres and over widths of 60 metres.
To view "Figure 1: Drill Hole Distribution and Significant Targets - Cerro Las
Minitas" and "Figure 2: Blind Zone Interpretive Drill Plan, 2046 metre level"
accompanying this press release, please click on the following link:
http://media3.marketwire.com/docs/ssv1019.pdf
Table 1: Summary of Select Composited Assays from the Cerro Las Minitas
Project
BLIND ZONE TARGET
----------------------------------------------------------------------------
From To Interval Ag Au Cu Pb Zn AgEq
Hole No. m m m g/t g/t % % % g/t
----------------------------------------------------------------------------
11CLM-013 121.8 125.7 3.9 54 0.1 0.0 1.8 1.4 155
inc 121.8 122.5 0.7 218 0.0 0.1 6.7 5.1 582
----------------------------------------------------------------------------
11CLM-014 330.9 333.8 2.9 111 0.3 0.0 0.9 0.8 176
inc 333.1 333.8 0.6 414 0.8 0.0 2.1 2.3 586
363.9 369.2 5.3 54 0.0 0.2 1.5 2.8 201
inc 366.8 369.2 2.4 100 0.5 2.5 5.2 368
----------------------------------------------------------------------------
11CLM-016 152.4 164.1 11.7 113 0.0 0.2 3.3 4.9 374
inc 155.3 159.8 4.5 192 0.0 0.3 5.8 8.4 638
168.9 169.8 0.9 142 0.0 0.2 5.3 4.3 445
171.4 181.1 9.7 56 0.0 0.1 1.9 2.1 186
inc 176.4 181.1 4.7 92 0.0 0.2 3.3 3.1 296
----------------------------------------------------------------------------
BLIND ZONE TARGET - Previously Released
----------------------------------------------------------------------------
11CLM-008 74.5 75.1 0.6 166 0.0 0.3 5.9 7.9 604
and 168.4 179.3 10.9 268 0.1 0.0 4.5 3.8 524
inc 168.4 171.7 3.3 818 0.2 0.1 12.9 10.9 1550
and 169.6 171.4 1.8 1400 0.3 0.0 19.7 14.5 2451
----------------------------------------------------------------------------
11CLM-011 63.1 71.9 8.8 67 0.1 0.1 2.0 2.2 208
inc 65.8 68.4 2.6 179 0.1 0.3 5.6 6.6 576
131.6 136.6 5.0 214 0.4 0.0 4.1 5.8 534
inc 132.8 135.6 2.8 380 0.4 0.1 5.8 10.2 886
294.3 297.9 3.6 47 0.1 0.1 2.0 1.1 149
306.3 319.8 13.6 38 0.1 0.1 1.6 1.9 154
inc 306.3 306.7 0.4 178 0.1 0.5 6.8 4.8 567
inc 316.7 319.2 2.4 75 0.0 0.1 3.6 4.2 321
----------------------------------------------------------------------------
11CLM-012 90.6 93.8 3.2 109 0.4 0.0 0.6 0.1 149
109.2 113.6 4.4 141 0.1 0.5 5.0 7.1 548
inc 109.2 111.4 2.2 259 0.1 0.9 9.1 11.8 962
----------------------------------------------------------------------------
EL SOL TARGET
----------------------------------------------------------------------------
11CLM-015 32.3 39.7 7.5 41 0.0 0.0 1.1 2.1 139
inc 32.3 33.1 0.9 247 0.0 0.3 6.5 3.1 556
147.4 148.7 1.3 165 0.0 0.2 6.2 2.4 437
inc 147.4 148.1 0.7 276 0.0 0.3 10.6 3.0 710
----------------------------------------------------------------------------
Analyzed by FA-ES/AA for gold and ICP-MS by Stewart Labs, Kamloops and ALS
Chemex, Vancouver BC; Silver overlimits (greater than 100g/t Ag) re-assayed
with FA-Grav. AgEq calculation uses values that approximate the three year
trailing average of the contained metals: $25 silver, $1150 gold, $2.5
copper and $1 lead and $1 zinc.
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.
For further information, please visit the company's website at
www.southernsilverexploration.com.
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.
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