Southern Silver Exploration Corp. (TSX: SSV, OTCQX: SSVFF) has made significant strides in expanding mineralization at its Cerro Las Minitas silver-lead-zinc project in Durango, Mexico. The project, situated in the heart of Mexico’s Faja de Plata, is one of the most significant silver-producing regions globally, with over 3 billion ounces of silver reserves and historic production.
The company’s recent drilling program, part of a “proof of concept” initiative, has successfully extended silver-polymetallic mineralization both laterally and down dip of the South Skarn deposit. Six core holes totaling 2,395 meters were completed, focusing on gaps within the current block model and lateral extensions of the mineralization. Notable results include:
- Hole 24CLM-198: A 0.5-meter interval averaging 154g/t Ag, 0.2g/t Au, 5.6% Cu, and 0.1% Zn (834g/t AgEq) within an 8.9-meter interval averaging 97g/t Ag, 0.1g/t Au, 0.7% Cu, 0.1% Pb, and 0.7% Zn (222g/t AgEq).
- Hole 24CLM-198: A 4.0-meter interval averaging 81g/t Ag, 0.2g/t Au, 0.1% Cu, 0.4% Pb, and 3.9% Zn (267g/t AgEq).
- Strong gold enrichment was identified in several hangingwall intercepts, including a 0.9-meter interval averaging 124g/t Ag, 5.2g/t Au, and 4.0% Pb (682g/t AgEq), and a 5.1-meter interval averaging 7g/t Ag and 1.8g/t Au (167g/t AgEq).
The Cerro Las Minitas project is advancing towards a production decision, with ongoing work focused on derisking and enhancing the project’s economics. Baseline data collection, hydrology, geotechnical, archaeological, and land surveys are underway to support this goal. The project is modeled as a large-scale underground mining operation with robust economics and high gross revenues, benefiting from its location in a mining-friendly jurisdiction.
Vice President of Exploration, Rob Macdonald, noted that the recent drilling demonstrates both lateral and down dip extensions of shallow mineralization around the South Skarn deposit. Similar targets have been identified around the Bocona and North Felsite deposits, with mineralization remaining open at depth, particularly on the eastern side of Cerro Las Minitas. This presents opportunities for further exploration to add high-margin mineralization early in the production scenario.
Southern Silver’s focus on the Cerro Las Minitas project aligns with its broader strategy of discovering and developing world-class mineral deposits. The company’s portfolio also includes the Oro porphyry copper-gold project and the Hermanas gold-silver vein project in southern New Mexico, USA.
