Southern Silver Exploration Corp. (SSVFF)

[JD400]

$SSVFF .. Southern Intersects Bonanza-Grade Silver at Cerro Las Minitas with 8.0 Metres Averaging 1,072g/t Ag, 18.8% Pb and 7.5% Zn (2,040g/t AgEq) including 0.6 Metres Grading 3,180g/t Ag, 58.8% Pb and 2.3% Zn (5,148g/t AgEq)

Vancouver, British Columbia--(Newsfile Corp. - February 9, 2021) - Southern Silver Exploration Corp. (TSXV: SSV) (OTCQB: SSVFF) reported today that it has identified Bonanza-grade silver mineralization on a second target within the Mina La Bocona zone at the Cerro Las Minitas project, Durango Mexico. Drilling on the East side of the Cerro tested the down-dip projection of the La Bocona Chimney which was historically mined by artisanal miners to approximately 210 metres depth. Bonanza grade assays from drill hole 20CLM-131 returned:

15.1m down-hole (8.0m est. TT) averaging 1,072g/t Ag, 18.8% Pb and 7.5% Zn (2040g/t AgEq; 51.7% ZnEq) which includes subintervals of
1.1m down hole (0.6m est. TT) grading 3,180g/t Ag, 58.8% Pb and 2.3% Zn and 1.6m down hole interval (0.8m est. TT) grading 2,340g/t Ag, 35.9% Pb and 1.6% Zn;

Additional mineralized intervals intersected further down-hole include:

16.1m down-hole (8.5m est. TT) averaging 121g/t Ag, 2.5% Pb and 2.5% Zn (311g/t AgEq; 7.9% ZnEq) which includes 3.0m down hole (1.6m est. TT) grading 413g/t Ag, 8.7% Pb and 9.3% Zn (1,103g/t AgEq; 28% Zn); and
1.0m down-hole (0.5m est. TT) averaging 59g/t Ag, 0.6g/t Au and 3.37% Cu (489g/t AgEq)

Drill hole 20CLM-131 is one of four holes which tested the extension of the La Bocona Chimney over an approximate area of 60m x 140m and between the 210-metre mining level and roughly 350 metres below surface. Mineralization is open to depth and partially open along strike.

Select intercepts from other holes which tested the Chimney include:

20.9m down-hole (9.0m est. TT) averaging 212g/t Ag, 0.64g/t Au, 3.7% Pb and 3.3% Zn (512g/t AgEq; 13.0% ZnEq) which includes 7.4m down-hole (3.2m est TT) grading 287g/t Ag, 1.64g/t Au, 4.6% Pb and 4.8% Zn (763g/t AgEq; 19.3% ZnEq) from Drill hole 20CLM-129; and
6.4m down-hole (4.3m est. TT) averaging 146g/t Ag, 0.19g/t Au, 2.9% Pb and 1.6% Zn (320g/t AgEq; 8.1% ZnEq) which includes 0.8m down-hole (0.5m est TT) grading 809g/t Ag, 0.4g/t Au, 17.1% Pb and 9.1% Zn (1,741g/t AgEq; 44.1% ZnEq) from drill hole 20CLM-128.

The mineralization identified in the La Bocona Chimney is the second, thick sulphide lens with Bonanza-grade silver identified in the Mina La Bocona target area and the third high-grade lens identified on the eastern side of the Cerro. It is located just 150 metres to the west-northwest of the Muralla Chimney and the previously reported drill holes 20CLM-125 (33.2m est TT averaging 435g/t AgEq; see NR-01-21) and 15CLM-078 (several zones including 5.6m est TT averaging 528g/t AgEq and 3.6m averaging 1077g/t AgEq; see NR-10-15). Significantly, none of the mineralization identified on the east side of the Cerro either historically or as part of this current exploration program has yet been incorporated into the current Mineral Resource Estimate for the project.

Drilling has now resumed on the property with one drill targeting lateral and down-dip step-outs of drill hole 20CLM-131 at the La Bocona Chimney and a second targeting step-outs of drill hole 20CLM-125 at the Muralla Chimney. Drilling will continue to test and extend these two sulphide zones, the near surface oxide mineralization adjacent to the Muralla chimney and the South Skarn target as well as testing additional targets further to the to the northwest of the Bocona Chimney and the recently acquired El Sol claim.

Rob Macdonald, Vice President Exploration stated: "The identification of a third near-surface sulphide lens, with Bonanza- grades of silver, on the east side of the Cerro is significant as it not only demonstrates the continued exploration potential of these targets but also the clear potential to identify the critical mass of mineralization necessary to support a mining scenario. Drilling has now identified compelling sulphide and oxide intercepts within an 800 metres strike-length that require additional drilling. A further 400 metres remains to be tested on the east side of the Cerro and further drilling is warranted on the newly acquired El Sol Claim which will all be part of the continued 2021 drill campaign."



Figure 1: Plan Map of the Area of the Cerro showing the distribution of the CLM deposits and the location for new drill targeting, at the Mina La Bocona, South Skarn and Las Victorias targets.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5344/73991_2d23323fa401ebda_002full.jpg

South Skarn and Muralla Chimney Targets

Additional assay results have also been received from both the Muralla Chimney and the South Skarn Target, located 500 metres to the south of the Mina La Bocona target, highlights of which include:

9.2m down-hole (4.1 est. TT) averaging 205g/t Ag, 0.16g/t Au, 4.0% Pb and 0.9% Zn (377g/t AgEq; 9.5% ZnEq) which includes 1.3m down-hole (0.6m est TT) grading 575g/t Ag, 0.05g/t Au, 9.9% Pb and 2.2% Zn (972g/t AgEq; 24.7% ZnEq) from Drill hole 20CLM-134 in the Muralla Chimney;
6.6m down-hole (4.4m est. TT) averaging 95g/t Ag, 0.7% Pb and 1.2% Zn (174g/t AgEq; 4.4 % ZnEq) which includes 1.0m down-hole (0.7m est TT) grading 398g/t Ag, 0.16g/t Au, 2.7% Pb and 4.0% Zn (679g/t AgEq; 17.2% ZnEq) from drill hole 20CLM-126 in the South Skarn target; and
1.6m down-hole (1.0m est. TT) grading 327g/t AgEq, 5.6% Pb and 11.5% Zn (960g/t AgEq; 24.4% Zn) from drill hole 20CLM-130 in the South Skarn target.

Approximately 8,600 metres of drilling have now been completed as part of the 2020-21 exploration program. Drilling has resumed to start the 2021 exploration season.

The CLM Project remains one of the larger undeveloped silver-lead-zinc projects in the World and is wholly owned, unburdened by royalties, fully financed and fully permitted.

Table 1: Select Assay intervals from Mina La Bocona and South Skarn target area.

Continues here>>>

https://www.newsfilecorp.com/release/73991/Southern-Intersects-BonanzaGrade-Silver-at-Cerro-Las-Minitas-with-8.0-Metres-Averaging-1072gt-Ag-18.8-Pb-and-7.5-Zn-2040gt-AgEq-including-0.6-Metres-Grading-3180gt-Ag-58.8-Pb-and-2.3-Zn-5148gt-AgEq