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Be the first with the news that moves the market- Southern Silver Exploration (SSV) is mobilising drill crews to Durango, Mexico, ahead of exploration work at its Cerro Las Minitas Project
- The company intends to drill up to 10,000 metres across 20 to 25 holes, focusing on the development of mineral resources
- Drilling will test roughly 800 metres of strike length at the Skarn Front mineralised zone to depths of up to 650 metres, as well as a hanging wall zone in the Mina La Bacon target area
- A total of 59,000 metres have been drilled at the project to date across 133 holes, representing approximately C$34 million in exploration expenses
- Southern Silver Exploration (SSV) is currently up 10 per cent and is trading at 55 cents per share
Southern Silver Exploration (SSV) is mobilising drill crews to Durango, Mexico, ahead of exploration work at its Cerro Las Minitas Project.
The Vancouver-based company intends to carry out up to 10,000 metres of core drilling across 20 to 25 holes, focusing on the development of mineral resources at the eastern portion of the property. Drilling work will step-out from previously identified high-grade silver mineralisation in the Mina La Bocona and South Skarn target areas.
Approximately 800 metres of strike length at the Skarn Front mineralised zone will be tested to depths of up to 650 metres, as well as a high-grade hanging wall zone in the Mina La Bocona target area.
This program comes off the back of Southern Silver’s consolidation of the project, in which it acquired Electrum Global Holdings’ 60 per cent interest to achieve sole ownership, as well as a recently completed financing that generated gross proceeds of almost C$14.5 million.
From 2011 to 2015, Southern Silver drilled 15 holes in this region, many of which returned significant results.
As of May 9, 2019, the Cerro Las Minitas Project contains an indicated resource of 134 million ounces of silver equivalent, and an inferred resource of 138 million ounces of silver equivalent. By following up on previous work, the company intends to increase this estimate by roughly 30 per cent.
A total of 59,000 metres have been drilled at the project to date across 133 holes, representing approximately $34 million in exploration expenses.
Separately, Southern Silver has granted 9.5 million incentive stock options to certain directors, officers and consultants. These options will be exercisable at a price of $0.51 per share for a period of five years.
Southern Silver Exploration (SSV) is currently up 10 per cent and is trading at 55 cents per share at 11:01am EDT.
