Southern Silver Drills 11.5 Metres of 140g/t Ag, 0.2% Cu, 4.9% Pb and 4.1% Zn at Cerro Las Minitas; Expands Drill Program
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/22/11 -- Southern Silver Exploration Corp. (TSX VENTURE: SSV)(FRANKFURT: SEG) reported today that assays results from core drilling continue to demonstrate both the continuity and thickness of mineralization on the Blind Zone, one of several silver-enriched, high-grade polymetallic targets at its Cerro Las Minitas project located in Durango State, Mexico. Positive exploration results have prompted an expansion of the current exploration program from 13,000 metres to 18,000 metres.
Highlights from the latest assay results include:
-- an 11.5 metre interval averaging 140g/t silver, 0.2% copper, 4.9% lead
and 4.2% zinc which contains a 2.9 metre interval averaging 280g/t
silver, 0.3% copper, 10.3% lead and 9.5% zinc from drill hole 11CLM-023,
and
-- a 1.3 metre interval averaging 126g/t silver, 3.1% lead and 3.6% zinc
from drill hole 11CLM-019
Drill holes 11CLM-023 and 11CLM-019 tested the down-dip projection of the Blind Zone by 220 metres and 160 metres respectively. The holes form part of a program of systematic drill offsets designed to delineate the full dimension of this previously undiscovered gravel covered target. The Blind zone is outboard of both the main intrusive stock and the area of historic mining and exploration and is the first of several buried targets identified on the property through IP geophysics to be drill tested.
Drill hole 11CLM-017 continues to extend the lateral projection of the Blind Zone at shallow levels. Visually encouraging sulphide mineralization is observed in drill holes 11CLM-018, 11CLM-022 and 11CLM-026 which further extend the northwest projection of the Blind Zone. Assays for these holes and several additional intervals from 11CLM-023 are still pending. Total strike length of drill indicated sulphide mineralization in the Blind zone, including these three holes is 475 metres.
Table 1: Summary of Select Composited Assays from the Cerro Las Minitas
Project
BLIND ZONE TARGET
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Hole From To Interval Ag Au Cu Pb Zn AgEq
No. m m m g/t g/t % % % g/t
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11CLM-017 99.56 101.17 1.61 217 0.0 0.1 2.8 1.3 334
and 104.41 105.08 0.67 67 0.0 0.1 1.4 6.5 291
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11CLM-019 229.9 231.2 1.3 126 0.2 0.0 3.1 3.6 317
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11CLM-023 300.1 311.6 11.5 140 0.1 0.2 4.9 4.2 404
inc 308.7 311.6 2.9 280 0.0 0.3 10.3 9.5 836
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NORTH SKARN ZONE
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11CLM-020 197.75 198.4 0.65 120.0 0.0 0.0 5.4 1.9 321
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Analyzed by FA-ES/AA for gold and ICP-MS by ALS Chemex, Vancouver BC; Silver
overlimits (greater than 100g/t Ag) re-assayed with FA-Grav. AgEq
calculation uses values that approximate the three year trailing average of
the contained metals: $25 silver, $1150 gold, $2.5 copper and $1 lead and $1
zinc.
To view Figure 1 please click on the following link: http://media3.marketwire.com/docs/SSV1122.pdf
Exploration Program
Twenty-six drill holes totalling 6965 metres of an anticipated and fully funded 18,000 metre drill program have been completed on the project to date. Fourteen holes have now been completed on the Blind zone and assays for four of these drill holes are still pending.
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.
For an up to date drill hole plan and a full table of drill results please visit www.southernsilverexploration.com.
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).
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.
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