Summa Silver Corp. (TSXV: SSVR | OTCQB: SSVRF) has announced that it has staked an additional 1,446 acres of mineral rights, extending its Hughes Property in Nevada further to the northeast.
The claims. Which are largely unexplored, are centred approximately 4.6km northeast of the company’s Belmont Mine and 3km northeast of its Ruby Discovery. The acquisition has increased Summa’s Hughes Property to cover 5,504 acres, expanding its previous 3,969acre tenement, by approximately 40%.
Galen McNamara, CEO, stated: “The acquisition of this new group of claims continues to solidify our land position in this classic American mining district. With the recent purchases first of the Bullfrog district and then the Goldfield district by major mining companies, there are now very few historic districts like Tonopah remaining in the hands of junior mining companies in Nevada. We believe strongly that the potential for new discoveries immediately surrounding the Tonopah area remains high, and we plan to aggressively pursue our targets soon.”
The new claims will allow the company to extend the IP grid it established in 2021 further to the northeast. Previous geophysical and geochemical surveys identified several anomalies which are open for expansion towards and into the newly staked ground.
The claims are underlain by a thin veneer of young Red Mountain volcanic rocks with numerous erosional windows into older prospective Seibert Formation and Fraction volcanics, host to regionally important gold deposits (e.g., Divide, Hasbrouck, Three hills).
As well as extending IP lines into the new claims, the company plans to undertake soil-geochemical surveys to investigate the extent of the strong multi-element anomalies, interpreted to be locally associated with Seibert and Fraction volcanics. Detailed prospecting and geological mapping are also planned to systematically assess the older rocks for alteration and mineralization. These new data will be used to advance the property-wide exploration model with the aim of developing new drill targets.
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