Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Southern Silver Exploration Corp. (SSV) has completed an update of its independent mineral resource estimate on the Cerro Las Minatas project in Mexico
  • The updated estimate features increased sulphide resources from two new mineral deposits, a small oxide resource in one of the new deposit areas and an update of previously reported deposits
  • The new estimate includes an additional 20,991 metres of core drilling completed in 2020-2021, updated metal recoveries and pricing, and the incorporation of approximately 1,127 metres of specific gravity measurements
  • Most of the increase results from the addition and delineation of the La Bocona and the South Skarn deposits
  • Southern Silver Explorations Corp. (SSV) is up 3.75 per cent and is trading at $0.415 per share at 2:42 p.m. ET

Southern Silver Exploration (SSV) has completed an update of its independent mineral resource estimate on the Cerro Las Minatas project in Mexico.

The updated estimate features increased sulphide resources from two new mineral deposits, a small oxide resource in one of the new deposit areas and an update of previously reported deposits utilizing new metal pricing and metallurgical recoveries.

The update shows 1.2 million tonnes increased in indicated mineral resources to 12.3 million tonnes containing 42.1 million ounces of silver,28 thousand ounces of gold, 44 million pounds of copper, 358 million pounds of lead, and 895 million pounds of zinc.

Also, 6.8 million tonnes increase in inferred minerals to 19.6 million tonnes containing 73.6 million ounces of silver, 78 thousand ounces of gold, 98 million pounds of copper, 500 million pounds of lead, and 1,009 million pounds of zinc.

The new estimate includes an additional 20,991 metres of core drilling completed in 2020-2021, updated metal recoveries and pricing, and the incorporation of approximately 1,127 metres of specific gravity measurements.

Most of the increase results from the addition and delineation of the La Bocona and the South Skarn deposits.

The new deposits have a much stronger silver-lead bias resulting in higher overall NSR values for the South Skarn and the indicated component of the La Bocona resource estimates compared to previous resource estimates.

Mineralization in both the South Skarn and Mina La Bocona deposits remains open at depths below 500 metres, leaving additional exploration potential

Higher grade portions of the new resources are relatively shallow and occur within 300 metres of surface which could potentially benefit future mining scenario

A small oxide resource was identified within the upper 100 metres of surface in the La Bocona zone

Here an indicated mineral resource totalling 65,000 tonnes contained 58,000 ounces of silver and 4,500 ounces of gold.

Also, an inferred mineral resource totalling 219,000 contained 844,000 ounces of silver and 5,600 ounces of gold.

The mineralized zones were initially defined by Southern Silver personnel and subsequently validated and refined by Kirkham Geosystems Ltd.

Southern Silver Explorations Corp. (SSV) is up 3.75 per cent and is trading at $0.415 per share at 2:42 p.m. ET.

More From The Market Herald

" Search Minerals (TSXV:SMY) announces $5M private placement

Search Minerals (SMY) is conducting a non-brokered private placement for gross proceeds of up to $5,000,000.

" DLP Resources (TSXV:DLP) updates proposed private placement

DLP Resources (DLP) intends to complete an offering of up to 2,000,000 FT units for gross proceeds of $500,000.

" Advance United Holdings (CSE:AUHI) launches the Advance United Marketplace

Advance United Holdings (AUHI) has introduced a platform for owners of mineral commodities to connect with developers and producers.

" Vision Lithium (TSXV:VLI) acquires lithium property in Quebec

Vision Lithium Inc. (VLI) has closed its acquisition of a 100 per cent undivided interest in 215 contiguous mining claims in Quebec.