Southern Silver (TSXV: SSV; US-OTC: SSVFF) is seeing some encouraging results from its 12,000 metre drill campaign at its Cerro Las Minitas silver-zinc project in Durango State, Mexico.
An early hole drilled into the Skarn Front deposit cut 15.1 metres from 450 metres downhole grading 260 grams silver per tonne, 0.05 gram gold, 0.2% copper, 0.9% lead and 0.1% zinc, or 317 grams silver equivalent. The company says the hole demonstrates continuity between two previously reported holes from 2013 and 2015.
Drilling also extended mineralization in the Las Victorias zone southeast by over 100 metres. Highlights from Las Victorias include: 0.6 metres from 354 metres downhole grading 79 grams silver, 0.37 gram gold, 1.2% copper, 0.1% lead and 14.1% zinc as well as 2 metres from 251 metres downhole at 88 grams silver, 0.27 gram gold, 0.2% copper, 1.1% lead and 2.6% zinc. The zone remains open at depth.
The company is now drilling the project’s North Skarn area, in particular the historic Santo Nino mine as well as extensions of previously reported mineralization from 2011 and 2015.
As of a January 2018 resource estimate, Cerro Las Minitas contains 10.1 million indicated tonnes grading 102 grams silver, 0.1 gram gold, 1.4% lead, 3.6% zinc and 0.15% copper for 33.3 million oz. silver, 34,000 oz. gold, 319 million lb. lead, 813 million lb. zinc and 33 million lb. copper.
The project also contains 8.6 million inferred tonnes at 74 grams silver, 0.04 gram gold, 0.7% lead, 4.5% zinc and 0.15% copper for 20.7 million oz. silver, 12,000 oz. gold, 131 million lb. lead, 870 million lb. zinc and 29 million lb. copper.
Cerro Las Minitas is a joint-venture between Southern Silver and Electrum Global Holdings. Southern Silver has a 40% interest and is the operator.
The company has two drills: one expanding the current resource area and a second testing new targets in the company’s recently staked West claim group. It has completed about one-third of the program.
Shares of Southern Silver are currently valued at 19¢ with a 52-week range of 14¢ to 42¢. The company has an $18 million market capitalization.