Southern Silver Exploration Corp. (CVE:SSV) reported Wednesday that drilling at its Cerro Las Minitas project in Durango State, Mexico has extended the depth projection of mineralization at the Blind Zone deposit.
The company revealed drill results from two core holes that tested the Blind Zone deposit at depth.
first returned a 3.7 metre interval grading 159 grams per tonne (g/t)
silver, 1.5 g/t gold, 4.1% lead and 4.5% zinc, or 475 g/t silver
equivalent in hole 12CLM-032.
The second intersected a 2.6 metre
interval averaging 160 g/t silver, 3.7% lead and 2.9% zinc, or 377 g/t
silver equivalent from hole 12CLM-062.
Both holes were drilled
in the central part of the deposit beneath previously reported
mineralization in drill holes 12CLM-019, which returned 1.3 metres at
126 g/t silver, and 12CLM-022, which hit 1.4 metres at 528 g/t silver.
company said the drilling continues to extend the projection of the
known high-grade mineralized structures to depth.
year, 29 drill holes totaling around 8,030 metres were completed on the
project. An additional 33 holes were drilled so far this year, with
results received from all outstanding holes.
The company noted
Wednesday that geological modeling of the Blind and El Sol deposit has
identified "multiple distinct mineralized structures with a 820 metre
cumulative strike-length", with a depth projection of up to 300 metres
Southern Silver has scheduled
additional core drilling in 2012, with the goal of completing an NI
43-101 compliant resource on these deposits by the fourth quarter of
This will mark the initial milestone toward its goal
of delineating a larger, multi-million tonne, high-grade,
silver-enriched polymetallic resource on the project.
also said Wednesday that the optionors of the Dragoon property in
Arizona have agreed to extend the final payment of US$300,000 due at the
end of this month to August of next year.
Southern Silver will
have earned a 100 per cent interest in this property upon payment,
subject to a 2% net smelter return royalty that can be bought back at
any time. Geological data done by Freeport McMoRan is being analyzed by
Southern's consultants, with the intent to recommend more exploration
work on the property.
The Dragoon property was tested for copper mineralization at depth.
its Oro property in New Mexico, Southern Silver reported that permits
have been received for drill testing of up to 14 holes on the Stockpond
disseminated gold target, located in the northeast part of the asset.
Chip and grab samples from this target returned between 0.4g/t to 4.6g/t gold.
Southern Silver has the right to earn a 100 per cent interest in the
Oro property by paying $225,000 to private vendors by December 2012.