Summa Silver Corp. (TSXV: SSVR) (OTCQB: SSVRF) has announced that it has received high-grade silver and gold drill results from the Mogollon Property near Silver City, New Mexico, and that it will commence a large-scale drill programme at the Hughes Property near Tonopah, Nevada. The company has also provided an update on its operations at the Mogollon Property.
Mogollon Property Drill Results
- 11.6 m at 450 g/t silver equivalent* (2.7 g/t Au, 220 g/t Ag) including 0.9 m at 1,940 g/t silver equivalent (11.35 g/t Au, 975 g/t Ag) in MOG22-04 where total grade thickness through all mineralization is 5,343 g/t AgEq*m.
- 13.6 m at 220 g/t silver equivalent (1.4 g/t Au, 105 g/t Ag) and 4.2 m at 326 g/t silver equivalent (2.23 g/t Au, 137 g/t Ag) plus additional zones in MOG21-01 where total grade thickness through all mineralization is 6,225 g/t AgEq*m.
- 7.1 m at 279 g/t silver equivalent (2.07 g/t Au, 103 g/t Ag) and 8.0 m at 197 g/t silver equivalent (1.32 g/t Au, 85 g/t Ag) plus additional zones in MOG21-02 where total grade thickness through all mineralization is 4,522 g/t AgEq*m
Summa Silver have stated that Assay results from two holes still remain pending. Both holes reportedly intersected significant zones of quartz-carbonate veins, stockworks, and breccias commonly featuring visible silver sulphide minerals, which indicates that the core is mineralized.
The newly drilled mineralized zone remains open to expansion in all directions, and the company anticipates that a minimum of 25,000m of drilling at Consolidated in 50 holes is necessary to publish its first resource estimate.
Galen McNamara, CEO, stated:“It comes as no surprise that results from the first set of holes at Mogollon have confirmed high grade silver mineralization around the old Consolidated Mine. I’d like to emphasize that these are only the first few holes ever drilled by Summa at Mogollon. With over 34 km of identified strike potential, these assays truly prove that Mogollon is as exciting as our Hughes project in Nevada. Summa now has two high-grade silver projects, both of which we believe will prove to be very exciting as we continue to define the extent of the mineralization via aggressive drilling. With the completion of the recent US$11.5M financing, we are well funded to execute on that plan and create shareholder value.”
Update on the Mogollon property
According to Summa Silver, it paused exploration on March 1, 2022, to conduct a survey of the Mexican Spotted Owl, expanding on the initial survey work the company completed in September 2021. The pause in drilling will allow the bird survey to be completed in an uninterrupted manner over approximately 90 days.
With assay results from the two additional holes expected within the next 30 to 60 days, this pause in drilling activity will be used to refine and improve the geological model to maximize the effectiveness of further drilling.
Hughes Property
Summa Silver commenced drilling at the Hughes Property where one diamond drill rig is currently in operation with a second rig mobilizing to site. The company has implemented a programme to focus on resource drilling, where the priority targets are the Murray and Belmont areas, in which previous drilling intersected mineralization. Finally, an expected 10,000m of drilling is planned at the Hughes property.
Ruby Discovery 1.3km east of the Belmont Mine:
The final two holes from the 2021 drill programme at the Ruby Discovery intersected broad zones of strong alteration and classic epithermal style veins on 100m step-outs from SUM20-10. SUM21-49 intersected 251 g/t silver equivalent* over 1.9m including 383 g/t silver equivalent over 0.6m and SUM21-50 intersected 130 g/t silver equivalent over 0.7m and 108 g/t silver equivalent over 2.66m including 186 g/t silver equivalent over 0.6m.
The company believes that the intersection of these zones confirms the exploration potential at Ruby, where large resistivity and chargeability anomalies just east of the area remain undrilled.
For further information please visit: https://summasilver.com/
