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Summa Silver Corp V.SSVR

Alternate Symbol(s):  SSVRF

Summa Silver Corp. is a Canada-based junior mineral exploration company. The Company owns a 100% interest in the Hughes project located in central Nevada and in the Mogollon project located in southwestern New Mexico. The Hughes Property is located within and adjacent to the town of Tonopah, Nevada, the County Seat of Nye County, in the west-central part of the State. The Property comprises approximately 57 patented mining claims and 246 unpatented mineral claims, covering a total of roughly 5,504 acres. The Property is in the heart of the Tonopah Mining District, a silver and gold producing district in Nevada. The Mogollon Property is located in Catron County in southwest New Mexico, adjacent to the small town of Mogollon. The Property comprises 85 patented mining claims and 403 unpatented mineral claims, which cover approximately 7730 acres (3128 hectares) of land. It covers a silver-gold bearing epithermal vein field.


TSXV:SSVR - Post by User

Post by waves1on Jan 25, 2022 5:39pm
94 Views
Post# 34360129

Promising results from Mogollon Property & increased PP!

Promising results from Mogollon Property & increased PP!
Summa Silver Corp ($SSVR.v $SSVRF) recently increased the size of its private placement offering for gross proceeds of up to $10M following the participation of First Majestic Silver Corp and Eric Sprott in the offering. This represents a significant endorsement of SSVR's ongoing work and future potential at its silver projects. 
 
The net proceeds are expected to be used for exploration, corporate development, and general working capital purposes; plus, the closing of the offering is expected to occur on February 10, 2022. 
 
This news comes shortly after $SSVR provided an update on exploration activities and results at its Mogollon Property. The results showed multiple samples returning high grades which exceeded 1,000 g/t AgEq and locally exceeded 5,000 g/t AgEq. The presence of widespread high-grade silver and gold confirms Mogollon Property as a mineralized high-grade precious metal district.
 
$SSVR expects 2022 to be a transformative year as they push towards mineral resource estimates following the extensive drill programs they have planned. 
 
https://finance.yahoo.com/news/summa-silver-samples-multiple-undrilled-123500672.html
 
https://financialpost.com/globe-newswire/summa-silver-corp-announces-upsize-of-brokered-private-placement-financing-to-10000000-led-by-investments-from-eric-sprott-and-first-majestic-silver
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