Business
Southern Silver Announces a Significant Increase to the Mineral Resource at Cerro Las Minitas
To: Indicated 137Mozs AgEq or 2.3Blbs ZnEq: 42.1Mozs Ag, 358Mlbs Pb, and 895Mlbs Zn; and I...
About this update from Southern Silver Exploration Corp.
[{"type":"text","content":"Southern Silver Announces a Significant Increase to the Mineral Resource at Cerro Las MinitasTo: Indicated 137Mozs AgEq or 2.3Blbs ZnEq: 42.1Mozs Ag, 358Mlbs Pb, and 895Mlbs Zn; andInferred 198Mozs AgEq or 3.3Blbs ZnEq: 73.6Mozs Ag, 500Mlbs Pb, and 1,009Mlbs ZnVancouver, British Columbia--(Newsfile Corp. - October 27, 2021) - Southern Silver Exploration Corp. (TSXV: SSV) (\"Southern\") reports that Kirkham Geosystems Ltd. (\"KGL\") has completed an update of its independent Mineral Resource Estimate on the Cerro Las Minitas (\"CLM\") project in Durango State, Mexico. The updated Mineral Resource estimate features increased sulphide resources from two new mineral deposits, a small oxide resource in one of the new deposit areas and an update of the previously reported deposits utilizing new metal pricing and metallurgical recoveries. Resource reporting now utilizes a Net Smelter Return (\"NSR\") cut-off, as detailed in Table 1, and reports average grades on a AgEq, ZnEq and $US/t NSR basis. President Lawrence Page Q.C. stated, \"This is a most welcome milestone in the progress of our company's development of the Cerro Las Minitas silver-lead-zinc property. In Mexican folklore, the property has been known as the hill of mines - discrete claims exploited by several artisanal miners over the years utilizing basic exploration and mining methods. Since the purchase of the claims in late 2010 we have spent some $30 million in acquisition, exploration and development culminating in the identification of one of the largest undeveloped silver-based resources in the world.\"\"It is important to note that our company owns a 100% interest in all claims comprising CLM with no NSR or other burdens.\"\"Exploration continues at CLM while a third party authored Preliminary Economic Assessment is prepared for release in Q2 2022. This report will inform on potential mining scenarios, design, metal processing flowsheet, capital requirements, costs and cashflow for the project. It is the next milestone in the evolution of a prospect into a mine.\"\"Drilling will soon commence at our Oro copper-gold project in New Mexico with the permitting process nearing completion and we expect to explore and develop a number of promising targets identified through a previous geophysics program.\"Cerro Las Minitas Resource Model Highlights:Compared to the 2019 ...