Testing Historically Producing High-Grade Silver-Gold At Mogollon Property
Summa Silver Corp. (TSXV: SSVR) (OTCQB: SSVRF) has commenced drilling at the high-grade silver and gold Mogollon Property, New Mexico.
Key Highlights
- A core rig has been mobilised to site and is currently advancing the first hole of the programme.
- Drilling will begin by testing mineralisation surrounding the historic Consolidated Mine, where mining was halted prematurely in 1942 by order of the federal government at the onset of World War II.
- The Consolidated Extension target represents roughly 1.5% of the total prospective vein and structure strike length present on the property which features numerous poorly explored to completely unexplored veins,
- The company anticipates that a minimum of 15,000m of drilling is necessary at the Consolidated Extension target alone.
CEO, Galen McNamara, said largely incomplete records report that mines in the Mogollon district produced at least 16.4 million ounces of silver and 339 thousand ounces of goldat average grades of 821 g/t Silver Equiv. (298 g/t Ag and 6.16 g/t Au) between 1904 and 1942.
“The Mogollon district presents a very rare discovery opportunity, and for good reason. It is my strong belief that the district has the potential to be one of the great remaining vein fields still left in the United States,” Mr McNamara said.
“Since announcing our agreement to option this property from Allegiant Gold last year, we have been working towards this drill programme with great anticipation. We now look forward to opening this second avenue for value creation and to sharing the first drill results as they become available.”
Drill Programme
The focus for drilling at Mogollon is testing un-mined extensions of the Consolidated Mine, centred on the north-trending, epithermal-related Queen Vein. The initial set of drill holes are designed to intersect the Queen Vein on approximately 100m centres.
This drill pattern will systematically test the lateral and vertical continuity of mineralisation over a strike-length of approximately 500m and near-vertical, down-dip extent of over 250m beginning at approximately 130m below surface.
Over 5,000 total metres are scheduled for this phase of drilling with an additional minimum of 10,000m planned for the first half of 2022 as drill hole spacings are tightened to approximately 50m.
The Consolidated Mine target represents approximately only 1.5% of total strike-length of veins and prospective structures present on the property. Data from this drilling together with ongoing property-wide geological and geochemical surveys will be used to refine the property-scale exploration model and develop new targets.
Mogollon Property
The 2,467 acre Mogollon Property is located in the historically prolific Mogollon mining district of southwest New Mexico, approximately 120 km north of Silver City.
Numerous underground workings have exploited high-grade gold and silver veins from three primary mines: Fanney, Last Chance and Consolidated. Mining ceased in 1942 and the district has since been largely inactive besides a few exploration drill programmes in the 1980s and in 2010 totalling 15,600 m.
The property hosts approximately 34 km of near-continuous epithermal-related veins and faults where only 1.7 km of those veins and faults have been drill tested. The Mogollon Property therefore offers a unique opportunity to build high-grade ounces near historic past-production while systematically exploring for new discoveries using modern techniques.
For further information please visit: https://summasilver.com/
