Summa Silver Corp V.SSVR

Geological Mapping & Soil Geochem Results

[MarketMakerss]

Last week, Summa Silver (SSVR.v SSVRF) reported the results from its geological mapping and soil geochemical survey at its 100% owned high-grade silver-gold Mogollon Project in New Mexico.

 

Key Highlights:

• Coverage Across the Mogollon Vein Field: 1,680 soil samples taken across Northern Fannie and South Deadwood targets which are actively being tested in the current drill program
• Discovery Potential: Samples were collected across the Project and up to 2km along strike from the Consolidated target which has yielded drill results including 448 g/t AgEq* over 31.0 m (129 g/t Ag, 3.88 g/t Au).
• Robust Anomalies: Numerous multi-element soil anomalies defined by high concentrations of arsenic, copper and lead
• Approach to Discovery: Exploration method designed to pinpoint drill targets and maximize discovery efficiency
• Work Just Beginning: Targets along Queen Vein represent only 2.5% of the total vein and strucuture length on the project
• Fully Funded: Company remains fully funded for current drill program with ~$5M in working capital

 

SSVR's CEO, Galen McNamara, commented:

"The completion of our soil geochemistry survey in conjunction with data from our geological mapping program represent an important step towards target development. These programs highlight our systematic approach to discovery and are instrumental in demonstrating the full potential of the Mogollon Project. For perspective, this project covers the most northern of the Mexican-style vein fields that have been so prolific in that country going back in some cases five-hundred years. In our case, this project remains vastly underexplored. Last year's drilling at the Consolidated target, along the Queen Vein, proved that significant mineralization remains around the old mines of the Mogollon district. Our current drill program is actively testing these targets further to the south as we step out along a strike length of ~2 km and look to establish a sense of scale on the Queen Vein."

 

Covering 16 km2, mapping was aimed at providing further geological and structural context for high-grade rock-chip samples collected during a recent prospecting program.

 

Highlighting the high-grade potential of the northern district, an area lacking historic exploration and development, samples with grades up to 8,475 g/t silver equivalent (8,373 g/t Ag, 5.39 g/t Au and 4.43% Cu) from the Silver Bar vein, 3,652 g/t silver equivalent (221 g/t Ag, 39.3 g/t Au and 0.83% Cu) from the northern extension of the Queen vein, and 3,046 g/t silver equivalent (812 g/t Ag, 3.80 g/t Au and 18.4% Cu) from the northern extension of the Great Western Vein system were intersected.

 

The Phase 1 soil geochemical survey consisted of 1,680 samples across two grids and was conducted to investigate the soil geochemical footprint of known veins as well as to use the soil geochemical data to inform bedrock mapping below soil cover.

 

With these surveys now completed, SSVR will be conducting a project-scale soil geochemical grid to cover the rest of the Project to refine the exploration models and generate new drill targets.

 

Full News Release: https://summasilver.com/summa-silver-completes-soil-and-geological-surveys-across-the-high-grade-silver-gold-mogollon-project-new-mexico/

 

Posted on Behalf of Summa Silver Corp.