New Drilling Returns 5.0 Metres of 214g/t Ag, 4.1% Pb and 5.84% Zn at Southern Silver's Cerro Las Minitas Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/15/11 -- Southern Silver Exploration Corp. (TSX VENTURE: SSV)(FRANKFURT: SEG) reported today that significant polymetallic mineralization has been identified in offset drilling at its Cerro Las Minitas project located in Durango State Mexico.
Highlights from the drilling include:
-- a 5.0 metre interval averaging 214g/t silver, 0.4g/t gold, 4.1% lead and
5.8% zinc from drill hole 11CLM-011, and
-- a 4.4 metre interval averaging 141g/t silver, 0.5% copper, 5.0% lead and
7.1% zinc from drill hole 11CLM-012
These holes were drilled as 50 metre lateral offsets to the north and south of previously reported bonanza-grade mineralization from hole 11CLM-008 which included a 3.3 metre interval averaging 818g/t silver, 12.9% lead and 10.9% zinc. Several discrete mineralized intervals occur in each of these three drill holes. Drilling has now extended the strike-length of this buried mineralized zone to over 100 metres. The geophysical signature associated with the high-grade mineralization is open for up to 400 metres strike. Assay results are reported as down-hole intervals.
The deepest mineralized intercepts in hole 11CLM-011 drilled the previously untested El Sol zone located 150 metres to the northeast of the initial target and represents additional exploration potential on the project.
The company also reported that Phase II drilling on the Cerro Las Minitas project is ongoing. Six holes have been completed to date for 1,675 total metres. 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. Additional drilling has already been conducted both along strike and down-dip of these newly reported drill holes. Assays are pending and will be released upon receipt.
An updated drill hole plan is available at www.southernsilverexploration.com.
Table 1: Summary of Select Composited Assays from the Cerro Las Minitas
Project
From To Interval Ag Au Cu Pb Zn
Hole No. m m m g/t g/t % % %
----------------------------------------------------------------------------
11CLM-011 63.1 71.9 8.8 67 0.1 0.1 2.0 2.2
inc 65.8 68.4 2.6 179 0.1 0.3 5.6 6.6
131.6 136.6 5.0 214 0.4 0.0 4.1 5.8
inc 132.8 135.6 2.8 380 0.4 0.1 5.8 10.2
294.3 297.9 3.6 47 0.1 0.1 2.0 1.1
306.3 319.8 13.6 38 0.1 0.1 1.6 1.9
inc 306.3 306.7 0.4 178 0.1 0.5 6.8 4.8
inc 316.7 319.2 2.4 75 0.0 0.1 3.6 4.2
----------------------------------------------------------------------------
11CLM-012 90.6 93.8 3.2 109 0.4 0.0 0.6 0.1
109.2 113.6 4.4 141 0.1 0.5 5.0 7.1
inc 109.2 111.4 2.2 259 0.1 0.9 9.1 11.8
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).
Limited historical drilling on the project by Noranda (not independently verified by Southern Silver) returned numerous intervals of higher grade silver and base metals.
The mineralized zones at Cerro Las Minitas have been exploited to depths of 300 metres and over widths of 60 metres.
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
1.888.456.1112
liana@mnxltd.com
www.southernsilverexploration.com