Summa Silver Corp (SSVRF)

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Summa Silver Completes Soil and Geological Surveys Across the High-Grade Silver-Gold Mogollon Project, New Mexico
Newsfile Corp.
Wed, Jan 17, 20249 min read

Results highlight numerous new target areas considered priority for extended exploration

Vancouver, British Columbia--(Newsfile Corp. - January 17, 2024) - Summa Silver Corp. (TSXV: SSVR) (OTCQX: SSVRF) (FSE: 48X) ("Summa" or the "Company") is pleased to report results from a geological mapping and soil geochemical survey at its 100% owned high-grade silver-gold Mogollon Project, New Mexico (the "Mogollon Project").

Key Highlights

Coverage across the Mogollon vein field: 1,680 soil samples were taken across the Northern Fannie and South Deadwood targets which are actively being tested in our current drill program (see the Company's news release from November 20, 2023).

Discovery potential: These samples were collected across the Mogollon Project and up to 2 km along strike from the Consolidated target which has yielded drill results including hole MOG22-05 which intersected 448 g/t AgEq* over 31.0 m (129 g/t Ag, 3.88 g/t Au).
Robust anomalies: Numerous multi-element soil anomalies are defined by high concentrations of arsenic, copper, and lead (see attached figure).

Approach to discovery: Both geological mapping and soil geochemical surveys are techniques in our exploration method designed to pinpoint drill targets and maximize our discovery efficiency.

Work just beginning: Targets along the Queen Vein represents only 2.5% of the total vein and structure length on the project.

Fully funded: The Company remains fully funded for its current drill program with ~$5 million in working capital.

*Silver equivalent is calculated using US$20/oz Ag, US$1,800/oz Au with metallurgical recoveries of Ag - 90%, Au - 95%. AgEq = (Ag grade x Ag recovery)+((Au grade x Au recovery) x (Au price / Ag price)).

https://finance.yahoo.com/news/summa-silver-completes-soil-geological-123500925.html

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