Silver's Silver Lining Silver's Silver Lining: Soaring Demand Outstrips Supply, Pushing Prices to the Roof:
https://carboncredits.com/silver-lining-soaring-demand-outstrips-supply-pushing-prices-higher-solar-energy/
Marking the best performing asset in the first half of 2024 (Source: https://x.com/peter_krauth/status/1808871211985727706), silver plays a crucial role in the clean energy transition due to its unmatched conductivity, essential in solar cells and electric vehicles.
This increase in silver demand however, has lead to depleted inventories thus a deficit of over 200 million ounces is anticipated in 2024. Silver prices have surged significantly as a result of this, prompting experts to suggest the industry may be witnessing the start of a silver bull market due to the underlying industrial demand and supply constraints.
Known High-Grade Mineralization in New Mexico
Located amid this unique opportunity, Summa Silver (SSVR.v SSVRF) is planning an upcoming resource-style drill program set to commence in Q3 at its high-grade Mogollon Project in New Mexico.
The Asset
The Mogollon Project is the largest historical silver producer in New Mexico with at least 16.4Moz Ag and 339kox Au of production at grades of 298g/t Ag and 6.16 g/t Au or 795 g/t AgEq between the 1880s and 1943.
Significantly, Mogollon has the potential to be one of the last great veins fields in the US due to its under-explored nature with substantial discovery potential remaining.
Key Drilling Highlights:
- Known High-Grade Mineralization: All targets along Mogollon's Queen vein have previously been de-risked by reconnaissance-style and step-out drilling highlighted by:
- 448 g/t AgEq over 31m (129 g/t Ag, 3.88 g/t Au)
- 640 g/t AgEq over 9.9m (306 g/t Ag, 4.26 g/t Au)
- 433 g/t AgEq over 23.2m (134 g/t Ag, 3.66 g/t Au)
- 1,133g/t AgEq over 1.65m (693 g/t Ag, 8.8 g/t Au)
- 393 g/t AgEq over 7.4m (64 g/t Ag, 3.9 g/t Au)
- Strong Recoveries for Gold & Silver: Two previously reported representative composite vein samples from Consolidated returned recoveries ranging from 96.2% to 97.9% for silver and 97.7% to 97.8% for gold from flotation concentrates
- All Targets Open for Expansion: All mineralized zones along Queen vein are open for expansion and require step-out drilling to fully evaluate grade and scale potential
- Systematic Drilling Planned: Data from infill and step-out drilling at key targets used to fully investigate grade continuity along-strike and down-dip to facilitate future mineral resource estimations
The Plans
Based on SSVR's previous drill results and extensive data compilation efforts of historic underground sampling, a continued systematic approach to drilling is required at the Consolidated, Clifton and South Queen targets with the focus to better define the extent and continuity of vein-hosted mineralization.
Latest News Release: https://summasilver.com/summa-silver-reviews-high-potential-targets-and-plans-resource-style-drill-program/
Posted on Behalf of Summa Silver Corp.