SSVR Prepares for Major Drilling Program Several factors could contribute to a significant rise in silver prices, as highlighted in the article below. The abnormally high gold/silver price ratio, which suggests that silver is currently undervalued relative to gold. Meanwhile, rising industrial demand for silver is exerting further upward pressure on prices. Technological advancements are also playing a crucial role, as they drive increased usage of silver across various industries. Furthermore, speculative investment from major market players, similar to past moves by investors like Warren Buffett, could trigger a rapid rally in silver prices, pushing them beyond what market fundamentals alone would typically suggest.
https://www.benzinga.com/opinion/24/07/40019315/four-reasons-silver-soars-in-2024
Summa Silver Corp. (Ticker: SSVR.v or SSVRF for US traders), is working to address future silver demand with its silver exploration projects in New Mexico and Nevada.
SSVR's Hughes Project is located in the historic Tonopah mining district in Nevada, renowned for its rich silver and gold production since its discovery in 1900. The district produced 175 million ounces of silver and 1.86 million ounces of gold from 8.8 million tons of rock over several decades.
The Hughes Project boasts several key highlights, including high-grade silver-gold (Ag-Au) mineralization discovered through recent drilling campaigns. Significant intercepts from 2020 and 2021 include grades as high as 3,971 g/t AgEq over 2.8 meters. The mineralization occurs within a 6.5 km trend, with several zones showing Ag equivalents greater than 1,000 g/t, and many targets remain untested.
SSVR's Mogollon Project is situated 120 km from Silver City in southwestern New Mexico. This project encompasses a significant silver-gold bearing epithermal vein field within the historic Mogollon district. The district was a notable silver producer between 1904 and 1925, with reported production of 13.1 million ounces of silver and 271,000 ounces of gold from 1.39 million tons of rock.
The project's Queen Vein Target is notable for its poorly explored to completely unexplored veins, with significant potential for further mineralization surrounding historically productive high-grade mines.
SSVR recently reviewed high potential targets at the Mogollon Project and announced its plans for a resource-style drill program to explore the Queen Vein.
The company is in the final stages of preparing detailed plans and budgets for an upcoming drilling program, scheduled to commence next quarter. The goal is to systematically explore and define the mineralized zones, gathering essential data for future resource estimates.
Through this initiative, Summa Silver intends to advance the Mogollon Project, capitalizing on its high-grade silver and gold potential to support future growth and development.
Company Website: https://summasilver.com/
Posted on behalf of Summa Silver Corp.