Southern Silver Exploration Corp. (SSVFF)

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Southern Silver Hits High-Grade Extension at Cerro Las Minitas
Returning 12.5m (est. TT) Grading 154g/t Ag, 2.0g/t Au, 3.2% Pb, and 3.9% Zn (558g/t AgEq; 15.7% ZnEq) in Recent Drilling

2017-07-25 08:30 CT - News Release


Vancouver, British Columbia--(Newsfile Corp. - July 25, 2017) - Southern Silver Exploration Corp. (TSXV: SSV) (OTCQB: SSVFF) (FSE: SEG1) ("Southern Silver") reported today that it continues to identify high-grade mineralization from the current core drilling program on the Cerro Las Minitas project, Durango State, Mexico. Recent drilling has identified two thick intervals of mineralization in hole 17CLM-101 opening up the potential for significant extensions to the Blind Zone and Skarn Front deposits to the southeast of their currently drill extents. Highlights from hole 17CLM-101 include:

a 17.6m down hole interval (12.5m est. True Thickness) averaging 154g/t Ag, 2.0g/t Au, 3.2% Pb and 3.9% Zn (558g/t AgEq; 15.7% ZnEq) starting at 229.9m downhole, including a higher grade 4.2m interval (3.0m est. TT) averaging 329g/t Ag, 4.6g/t Au, 7.4% Pb and 7.3% Zn (1175g/t AgEq; 33.2% ZnEq); and
a 10.1m down hole interval (9.2m est. TT) averaging 220g/t Ag, 0.3% Cu, 3.6% Pb and 5.4% Zn (574g/t AgEq; 16.2% ZnEq) starting at 462.5m down hole, including a higher grade 2.3m interval (2.1m est. TT) averaging 373g/t Ag, 0.9% Cu, 7.4% Pb and 10.3% Zn (1089g/t AgEq; 30.7% ZnEq).

The upper mineralized intercept in hole 17CLM-101 is spatially related to thick intervals of monzonite/felsite and appears to be the southeast extension of the Blind Zone deposit. The deeper intercept is an approximate 125 metre lateral offset from mineralization in 11CLM-025 (10.8m down hole of 182g/t Ag, 0.5% Cu, 1.6% Pb and 6.4% Zn) and is localized along the leading edge of the skarn surrounding the Central Intrusion (Skarn Front zone). Neither hole 11CLM-025 nor the hole located immediately to the southeast of 17CLM-101 (12CLM-040) tested the Blind Zone target.

Results from hole 17CLM-101 are significant in:

the identification of relatively shallow, precious-metal-enriched mineralized intervals in two separate zones which remain open and largely untested for over 500 metres laterally to the southeast and for up to 500m down dip from hole 17CLM-101; and

the identification of gold values (up to 4.6g/t Au over 3.0m est. TT) in the upper interval which is of particular geological interest in further enhancing the value of the newly discovered intercept.

Approximately 10,650 metres in 14 drill holes has now been completed in the planned US$2 million 2017 exploration program. Drilling will continue through July on both the North Skarn target and extensions of the Blind and Skarn Front zones to the southeast.

Gold News Letter comments:
Southern Silver (SSV/SSVFF) remains a strong buy and is shaping up to be a major player in the Mexican silver sector. Today SSV released news on finding more high grade at CLM, further extending the deposit. We will see a resource update in September. We had hoped to see it as early as June but they were able to squeeze additional drilling out of the budget so these current results will be a welcome addition to the upgrade. The resource update looks to be substantial and Southern Silver is undervalued in my opinion. Buy up to 40 cents on SSV.