While Southern Silver (SSV.V) has been fully focused on the flagship Cerro Las Minitas polymetallic project in Mexico which has a nice combination of zinc and silver as its primary metals, the company still has the Oro exploration project in its portfolio. This New Mexico based project has been on the backburner for the past few years as Southern Silver could obviously get a much bigger bang for its buck at Cerro Las Minitas, but it now looks like Southern Silver will be doing some work at Oro.
The New Mexico Mining and Minerals Division, the NM State Land Office and the BLM have approved a six hole drill program to drill-test several copper porphyry and skarn targets on the Oro property, which hosts several past producing mines. While this is just a small drill program, it’s interesting to see Southern Silver going back to the Oro project and even if just one of the holes hits something with half-decent copper values, Oro could become more interesting to the company and its shareholders.
Drilling should start later this quarter, and although only six holes will be drilled, Southern Silver is budgeting for a 4,000 meter drill program indicating the holes will be rather deep (on average almost 700 meters).
Disclosure: The author has a long position in Southern Silver Exploration. Southern Silver is a sponsor of the website. Please read our disclaimer.
