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Southern Silver Announces 13,000 metres of drilling in 2018 Exploration for the Cerro Las Minitas Project
Vancouver, British Columbia--(Newsfile Corp. - April 5, 2018) - Souther n Silver Exploration...
About this update from Southern Silver Exploration Corp.
[{"type":"text","content":"Southern Silver Announces 13,000 metres of drilling in 2018 Exploration for the Cerro Las Minitas ProjectVancouver, British Columbia--(Newsfile Corp. - April 5, 2018) - Southern Silver Exploration Corp. (TSXV: SSV) (\"Southern Silver\") reported today that a 2018 budget totaling US$3 million has been approved by the joint venture partners for exploration work at the Cerro Las Minitas project, Durango Mexico. The program comprises 13,000 metres of drilling in two phases which will target both the systematic resource expansion in the Area of the Cerro containing the existing Mineral Resource Estimate and continued surface sampling and reverse circulation drilling on new discoveries in the recently staked CLM West claim group. Community consultations and agreements are completed and receipt of the second of two Environmental permits is anticipated within the next two weeks. Drilling is anticipated to begin in late April on the CLM West claim group and transition to the Area of the Cerro in June. The Cerro Las Minitas project operates on a joint venture basis by Southern Silver at a 40% interest and Electrum Global Holdings LP (Electrum) at a 60% interest. Southern Silver remains operator of the project. Since formation of the Joint Venture, the partners have approved over US$3.5 Million in exploration on the project since September, 2017.2018 Updated Mineral Resource EstimateThe updated Mineral Resource Estimate, from January 8, 2018, at a 175g/t AgEq cut-off, returned (1):10.1Mt averaging 102g/t Ag, 0.1g/t Au, 0.15% Cu, 1.4% Pb and 3.6% Zn (116Mozs AgEq);8.7Mt averaging 74g/t Ag, 0.04g/t Au, 0.15% Cu, 0.7% Pb and 4.5% Zn (92.7 Mozs AgEq);The updated Resource Estimate incorporates additional data from drilling conducted in 2016 and 2017 that has successfully delineated a major new deposit on the project, the Skarn Front deposit, and markedly increased the resource base in both the Indicated (+218%) and Inferred (+20%) resource categories as well as improving the overall grade of the resource, most significantly in the Indicated category.Analysis of the block model has identified several new target areas for drill testing in 2018 as well as the extensions of the Skarn Front deposit in the Las Victorias and North Skarn Target areas. Southern Silver's near term goal is to continue to increase the mineral resource in similar fashion to...