Summa Silver Corp. (TSXV: SSVR | OTCQX: SSVRF | Frankfurt:48X) has resumed exploration drilling at its high-grade Mogollon silver project near Silver City, New Mexico.
The company has stated that The Consolidated Mine target represents only 1% of the total vein and structure strike length present on the project, which features numerous poorly explored to completely unexplored targets.
The company is fully funded for an exploration programme of a minimum of 11 holes and maximum of 25 holes, which will be drilled to test an area of 500m along strike by 350m up- and down-dip at a spacing between holes projected to support a potential mineral resource.
All six holes drilled to date by Summa Silver around the Consolidated Mine have intersected high-grade silver-gold mineralization. Highlights include:
31.0 m at 448g/t Ag equivalent* (129 g/t Ag, 3.88g/t Au) in MOG22-05
11.6 m at 429 g/t Ag equivalent* (220 g/t Ag, 2.70 g/t Au) in MOG21-04²
The broad zone of mineralization at Consolidated is open in all directions. Drilling will continue to step-out to fully evaluate the size potential of the target area.
* Silver equivalent is calculated using US$20/oz Ag, US$1,800/oz Au, with metallurgical recoveries of Ag – 90% and Au – 95%. AgEq = (Ag grade x Ag recovery)+((Au grade x Au recovery) x (Au price / Ag price)). True widths are not yet known.
Galen McNamara, CEO, stated: “The Mogollon project continues to represent a rare American discovery opportunity that we are well positioned to systematically advance. Our work utilizes a modern best practice approach with key pillars that focus on environmental stewardship, community engagement and successful exploration. The team is very much looking forward to following up on the drilling already completed and to aggressively pursuing the growth of the mineralized zone around the Consolidated Mine.”
To find out more, please visit www.summasilver.com
