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