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.
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
1-888-456-1112liana@mnxltd.comwww.southernsilverexploration.com
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