Southern Silver extends the Blind Zone again; new gold-copper find at Cerro Las Minitas
May 21.05.2012, 1,5 - Southern Silver Exploration Corp. (TSX.V: SSV) announced today that drilling at the Cerro Las Minitas project, located in the state of Durango, Mexico, continues to intersect thick intercepts of high grade polymetallic and silver mineralization at the Blind Zone deposit. A new zone of gold and copper mineralization has been delineated in the drill core of the South Skarn area, located approximately XNUMX kilometers east of the Blind Zone.
Zone Blind
Recent core drilling targeted shallow mineralization along the strike length of the deposit at the Blind Zone and extended the zone to the northwest.
Highlights of the survey include:
- An intersection of 4,2 meters averaging 409 g / t silver, 18% lead and 4,0% zinc (1094 g / t silver equivalent; "AgEq") in hole 12CLM-056;
- A 6,2 meter interval grading 238 g / t silver, 3,2% lead and 0,1% zinc (332 g / t AgEq) within a broader 20 meter zone grading 143 g / t silver in hole 12CLM. 051, and
- A 1,7 meter interval averaging 9 g / t silver, 6,2% lead, and 9,3% zinc (443 g / t AgEq) in hole 12CLM-054
The mineralization intersected in the 12CLM-051 and 12CLM-056 holes occurs within 50 meters from the surface and reiterates the internal continuity of several mineralized structures that make up the deposit at the Blind Zone. Hole 12CLM-054 extended the known mineralized zone by another 60 meter to the northwest.
First modelers of the Blind Zone identified three individual mineralized structures along most of the strike length of the deposit on 618 meters. Several other less continuous lenticular mineralized structures were also delineated by this model. The true thickness of the mineralized sections is estimated to be 60% to 70% of the borehole sections.
Destination South Skarn
Drilling has delineated a new promising zone of gold-copper mineralization. The new zone is gravel, located approximately 1,5 kilometers southeast of the Blind Zone and open in all directions.
Hole 12CLM-055 intersected an outer zone of low grade, moderately altered limestone followed by an 37 meter thick diatreme breccia, a mixed zone of hematite breccia, skarn-hornfels, and aplit-dykes, before intersecting differently altered porphyritic monzonite / feldspar. On a section of 20 meters within the hematite breccia, strongly anomalous gold mineralization has been defined, averaging 0,8 g / t gold. This section included 4,3 meters averaging 2,8 g / t gold and 28 g / t silver. Further down the hole, a second 4,3 meter section intersected averaging 1,4 g / t gold, 89 g / t silver, and 1,8% copper; this is bedded in chlorite-garnet skarn, which is related to nearby deposits.
This discovery is significant in two ways:
1. it refers to the extensive metal zoning across several structures and occurrences, and
2. it increases the discovery potential target of a significant gold-bearing resource deposit at the property.
Further drilling is planned to further investigate and delineate this new mineralized zone.
Exploration Program 2012
In the Cerro Las Minitas project, diamond drilling is being continued with a drilling rig; they focus on the demarcation of mineralization in the Blind and El Sol zones.
2011 has completed twenty-nine drill holes totaling approximately 8.030 meters in the project. 2012 has drilled more 7.207 meters into thirty-two holes so far. The extension hole 12CLM-032 is still under construction. The results of seven holes are still pending.
The company plans 2012 to drill core holes totaling 20.000 meters and intends to do so before the end of 4. Quarterly 2012 to create a NI 43 101 compliant resource estimate for this first set of targets. These measures mark a first important step in the demarcation of a large, multi-million ton, high-grade, silver-enriched, polymetallic resource in the project.
For a current hole plan and a complete drill results table, visit the company's website at www.southernsilverexploration.com.
About Southern Silver Exploration Corp.
Southern Silver Exploration Corp. is an exploration company focused on precious and base metals and a member of the Manex Resource Group. Manex Resource Group is a privately owned company with an interdisciplinary team of experienced professionals with expertise in all areas of exploration, development, corporate finance and listed companies.
The acquisition, exploration and development of high-quality properties in North American regions with a progressive legal framework is at the center of the company's growth strategy. The Company's current projects include the Cerro Las Minitas silver-lead-zinc project and the Minas de Ameca copper-gold-silver project in Mexico, as well as the Dragoon, Arizona porphyry copper-molybdenum project and the Gold-silver-copper project Oro in the American state of New Mexico.
Robert Macdonald (P.Geo) is a Qualified Person as defined by National Instrument 43-101. He has reviewed and approved the technical content of this communication.
For the Board of Directors:
"Lawrence Page"
Lawrence Page, President, Southern Silver Exploration Corp.
For more information please visit the company's website at southernsilverexploration.com or contact Liana Shahinian at 1.888.456.1112 or email [email protected].
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This press release may contain forward-looking statements and includes, but is not limited to, statements regarding the timing and content of future work programs, geological interpretations, the acquisition of fundamental rights, potential methods of extracting raw materials, etc. Forward-looking statements speak future events and circumstances and are therefore typically subject to risks and uncertainties. Forward-looking statements relate to future events and circumstances and are therefore typically subject to risks and uncertainties. Actual results may differ materially from those in the forward-looking statements. These statements are based on a number of assumptions, including but not limited to, assumptions about general economic conditions, interest rates, commodity markets, government and state approvals for the Company's own projects, and availability of funds for the Company's development projects on a reasonable terms. Factors that could cause the actual results to differ materially from those of the forward-looking statements include market prices, mining and exploration success, the timeline and receipt of government and securities regulatory approvals, the continued availability of capital and funding opportunities, and the general economic, market or business situation. Southern Silver Exploration Corp. is not obligated to update or revise its forward-looking statements, whether as a result of new information or future events or otherwise, except as otherwise required by applicable law.
