Southern Silver Identifies New Thick High-Grade Massive Sulphide Extension at Its Cerro Las Minitas Project

Southern Silver Exploration Corp. (TSXV:SSV) announced that core drilling on the Cerro Las Minitas project, Durango State, Mexico has identified thick intervals of high-grade semi-massive and massive sulphide mineralization in drill hole 15CLM-081.

As quoted in the press release:

The mineralized intercepts represent a significant lateral offset from previously outlined mineralization of the Blind-El Sol zones. Highlights from drill hole CLM-081 include:

• a 16.8m down hole interval (8.7m est TT) averaging 136g/t Ag, 0.5%Cu, 0.3% Pb and 4.5% Zn (361g/t AgEq) including a 4.1m down hole interval (2.1m est TT) averaging 160g/t Ag, 0.6% Cu, 0.4% Pb and 12.0% Zn (663g/t AgEq), and
• a 7.6m down hole interval (4.0m est TT) averaging 43g/t Ag, 1.1g/t Au, 0.3% Cu, 0.5% Pb and 2.8% Zn (270g/t AgEq).

Mineralization in drill hole 15CLM-081 represents a +400m vertical and +200m lateral offset from previous drilling results in the Blind Zone (see Figure 1) and the identification of a new thick zone of mineralization, previously unrecognized, in the lower part of this deposit. Mineralization is open along-strike to the southeast and up-dip of this intercept in an area that had limited drill testing to date. Further drilling is planned to test the continuation of this zone.

Southern Silver also reported that drilling at the Mina La Bocona Extension discovery (see NR-10-15, Oct 1, 2015) has extended the strike extent of precious-metal enriched sulphides to the northwest and southeast of discovery hole 15CLM-078 and include:

• a 10.1m down hole interval (4.8m est TT) in drill hole 15CLM-082 averaging 88g/t Ag, 1.4g/t Au, 1.6% Pb and 2.1% Zn (320g/t AgEq), and
• a 8.6 metre down hole interval (4.6m est TT) averaging 195g/t Ag, 0.4% Cu, 0.7% Pb and 2.5% Zn (360g/t AgEq) including a 1.9m down hole interval (1.0m est TT) averaging 636g/t Ag, 0.7% Cu, 2.8% Pb and 8.0% Zn (1127g/t AgEq) in hole 15CLM-083.

The mineralization from drill hole 15CLM-083 is one of several higher grade intervals within a 60m thick zone of anomalous polymetallic mineralization suggesting an increased potential for further extensions of the Bocona target to the northwest and down dip.

Figure 1: Longitudinal Section of the Blind Zone showing the location of the 15CLM-081 mineralized intercepts:

2015-16 Exploration Program

Management is very pleased with the results received to date from the systematic exploration and definition drilling program on the Cerro Las Minitas project. The program will continue targeting known zones of mineralization and additional “discovery” targets on the property. Approximately 7,000 metres have been completed in ten core holes on the project as part of the +10,000m 2015 exploration program. The results continue to expand the overall size of the deposits with the identification of new zones of high-grade mineralization. Two holes are currently in progress including hole 15CLM-085 which is testing a gold-in-soil anomaly outboard and to the north of the central intrusion.

Noteworthy milestones from the 2015 drilling program include:

• new high-grade Ag-Pb-Zn discoveries in the Mina La Bocona area (15CLM-078; see NR-12-15) and outboard of the Blind-El Sol zone (15CLM-081; see NR-10-15),
• the identification of potential new extensions to high-grade mineralization at the Santo Niño Mine (15CLM-023A; see NR-12-15); and
• the identification of thick zones of massive and semi-massive sulphide at depth in the Blind – El Sol zone (15CLM-077, CLM-081 see NR-10-15 and this release).

The 2015 program has added new areas of high-grade mineralization to the results of earlier exploration work from 2011-2014 by Southern Silver which totaled 23,310 metres of diamond drilling in 75 core holes resulting in the identification of new mineral deposits at the Blind and El Sol zones.

Airborne magnetic geophysics over the entire property and gravity and IP geophysics in specific target areas were also conducted and will form the basis for future exploration drilling programs on the project.

Figure 2: Plan Map showing the distribution of 2015 Drill Holes at Cerro Las Minitas:

Table 1: Summary Assays from 2015 Drilling on the Cerro Las Minitas Property

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