Summa Silver Corporation (TSXV: SSVR) (OTCQB: SSVRF) has provided an update on its exploration activities and reported results from a rock sampling programme at its high-grade Mogollon Property, near Silver City, New Mexico.
The company reported that multiple samples returned grades which exceeded 1,000 g/t AgEq and locally exceeded 5,000 g/t AgEq. The sampled area covers a footprint of 3.5 x 3.5km, highlighting the scale of Summa’s Mogollon property, which has now been confirmed as a mineralized high-grade precious metal district.
Summa Silver states that most of the high-grade veins at surface have never been drilled and offer discovery opportunities as the Consolidated Extension area is drilled out in 2022.
Looking Ahead
The company intends to continue drilling into 2022, with an estimated 50 holes planned at the Mogollon property. 25 holes are also planned at Summa’s Hughes property in Nevada, where the company is looking to follow up some substantial high-grade intercepts at its Rescue and Murray targets with a further 25 holes of drilling. Once all the drill holes have been completed, Summa Silver hopes to release maiden resource estimates on both Mogollon and Hughes in 2022.
Galen McNamara, CEO, stated: “We expect 2022 to be transformative for the company. Extensive drill programmes are required on both properties as we aggressively push towards mineral resource estimates. As this process moves forward, we also expect to regularly release results from up to 75 holes, all of which are planned to test zones of known high-grade mineralization on either an extension or infill basis. Additionally, the presence of high-grade at surface in numerous veins validates the high potential of the Mogollon property. In the bigger picture, the current drilling area at the Consolidated Extension target represents only a small part of the story here. As exploration and drilling advance, we will soon find out if Mogollon is one of the great vein fields left in the United States.”
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