Southern Silver Exploration (SSV.V) has released additional results from its drill program on the flagship Cerro Las Minitas silver-polymetallic project in Mexico. The company has drilled the North Felsite target and the assay results rom those two holes are quite interesting as you can see in the table below. Although the true thickness in hole 186 are pretty narrow, the two distinct zones of mineralization carry an excellent grade with 0.6 meters containing 1,116 g/t silver-equivalent and 0.5 meters containing 1,088 g/t silver equivalent. So even if one would use a mining width of 2.5 meters and assume the one meter on each side is barren, this would be the equivalent of 2.5 meters at in excess of 200 g/t silver-equivalent and that would meet the cutoff grade for this type of deposit.
The second hole, 187, encountered three distinct zones of mineralization with thicker intervals of 1.7 meters, 1.9 meters and 2.0 meters (all true width) with respective grades of 145 g/t, 314 g/t and 134 g/t AgEq. Relatively low grade considering the average grade of in excess of 300 g/t in the resource estimate. And although the rock value would be lower than the $123-130/t used as cutoff grade in the resource estimate we wouldn’t fully discard this area.
The North Felsite target is located on the northern edge of the deposit, in between the more developed North Skarn target and the Mina La Bocona deposit. Southern Silver also released the assay results from additional holes drilled at North Skarn.
Hole 191 clearly is the most interesting hole here as there are two narrow but high-grade areas fueling the wider intervals. The 0.4 meters true width and 1 meter true width containing 1,596 g/t and 1,463 g/t respectively but with very high-grade copper grades of 5.6% and 11.5% respectively.
Despite already containing in excess of 330 million silver-equivalent ounces (137 million ounces in the indicated category and almost 198 million ounces in the inferred resource category), these drill results confirm the company is still able to add tonnes and ounces to the existing resource.
Disclosure: The author has a long position in Southern Silver. Southern Silver is a sponsor of the website. Please read our disclaimer.
