Welcome!

News Feed Item

Southern Silver Announces New Drill Program at Cerro Las Minitas, Durango Mexico

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/24/14 -- Southern Silver Exploration Corp. ("Southern Silver") (TSX VENTURE:SSV)(FRANKFURT:SEG) reported today that equipment has mobilized and a new phase of diamond drilling has started on the Cerro Las Minitas Project, Durango Mexico.

Freeport-McMoRan Exploration Corporation (FMEC) continues to finance Southern Silver's exploration on the property and provide input on exploration programs. The current program follows the second phase of drilling, completed in late January 2014, which was successful in identifying additional high-grade Ag-Pb-Zn mineralization at depth in the El Sol zone from hole 13CLM-071 and a potential new target along the southwestern margin of the central intrusive in the area of hole 13CLM-073 (see NR-01-14; February 27, 2014).

Current plans are for approximately 2,000 metres of core drilling in three or more holes designed to test at depth several previously identified copper anomalies on the project. These include an extension of drill hole CLM-073, which terminated in anomalous copper mineralization at 708 metres depth; and a down-dip test of copper mineralization at the North Skarn target (CLM-003: 16.6 metres averaging 56g/t Ag, 0.8% Cu, 0.5%Pb and 1.6% Zn). Additional holes are planned for a deep test of the central intrusive and its southern margin (South Skarn target).

Since execution of an earn-in agreement on the Cerro Las Minitas project in October 2012, Southern Silver's Mexican subsidiary, Minera Plata del Sur, S.A. de C.V., has completed 5,500 metres of diamond drilling, conducted soil and vegetation geochemistry surveys and a Reconnaissance IP (RIP) geophysical survey over the entire 15,125 hectare property. Additional lines of deep-penetrating IP geophysics and a Gravity survey were completed over the area of historic mining which has led to the development of several new targets on the property.

FMEC has been providing funding to Southern Silver for Minera Plata del Sur's exploration of the property since October 2012 and holds an option to earn a 70% indirect interest in the project by paying Southern Silver both option payments and program funding that could reach $25 million on the project over a ten year period if FMEC does not terminate earlier. Included in the gross interest is an initial 51% interest to be earned in the first three years of the agreement by expenditure of $5 million. To date, FMEC has provided Southern Silver funding of approximately $4,100,000 for option payments and applicable taxes, and to fund exploration of the property.

Engagement of Golden Capital

Southern Silver has engaged Golden Capital Consulting Ltd. ("Golden Capital") to assist in formulating a capital markets strategic plan in Europe for an initial term of 12 months. Southern Silver has agreed to compensate Golden Capital with quarterly share issuances each valued at $25,000 using the Discounted Market Price of such shares (as determined in accordance with the policies of the TSX Venture Exchange) and each such share issuance is subject to TSX Venture Exchange acceptance. 500,000 common shares have been issued in respect of the first quarter and are subject to a hold period expiring July 25, 2014. Pursuant to the engagement, Southern Silver has also granted Golden Capital 500,000 incentive stock options at an exercise price of $0.05 for a term of 60 months.

About Southern Silver Exploration Corp.

Southern Silver Exploration Corp. is a precious and base metal exploration and development company, and a member of the Manex Resource Group; a private company comprised of an exceptional multi-disciplinary team of professionals with specific expertise in all areas of exploration, development, corporate finance and public company administration.

The company's growth strategy is to acquire, explore and develop either directly or through joint venture relationships high-quality mineral properties in progressive jurisdictions within North America including Southern Silver's silver-lead-zinc Cerro Las Minitas project located in Durango, Mexico. Freeport-McMoRan Exploration Corporation currently holds an option to earn a 70% indirect interest in the project by making staged purchase payments and funding exploration and development expenditures of $25 million on the project over a ten year period.

Desert Star Resources Ltd. has the option to earn up to a 70% interest in the gold-silver-copper Oro project in New Mexico by making cash payments to underlying optionors, issuing one million shares, completing a preliminary economic assessment and incurring exploration expenditures of $6 million on the property over a period of 66 months. Southern Silver is currently advancing the porphyry copper-molybdenum Dragoon project in Arizona.

Robert Macdonald (P.Geo) is a Qualified Person as defined by National Instrument 43-101 and is responsible for the compilation and review of the technical content of this release.

On behalf of the Board of Directors

Lawrence Page, Q.C., President & Director, Southern Silver Exploration Corp.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Southern Silver Exploration Corp. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

Contacts:
Southern Silver Exploration Corp.
1.888.456.1112
[email protected]
www.southernsilverexploration.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, discussed how by using ne...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
It is of utmost importance for the future success of WebRTC to ensure that interoperability is operational between web browsers and any WebRTC-compliant client. To be guaranteed as operational and effective, interoperability must be tested extensively by establishing WebRTC data and media connections between different web browsers running on different devices and operating systems. In his session at WebRTC Summit at @ThingsExpo, Dr. Alex Gouaillard, CEO and Founder of CoSMo Software, presented ...
In his session at 21st Cloud Expo, James Henry, Co-CEO/CTO of Calgary Scientific Inc., introduced you to the challenges, solutions and benefits of training AI systems to solve visual problems with an emphasis on improving AIs with continuous training in the field. He explored applications in several industries and discussed technologies that allow the deployment of advanced visualization solutions to the cloud.
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
"NetApp is known as a data management leader but we do a lot more than just data management on-prem with the data centers of our customers. We're also big in the hybrid cloud," explained Wes Talbert, Principal Architect at NetApp, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"We work around really protecting the confidentiality of information, and by doing so we've developed implementations of encryption through a patented process that is known as superencipherment," explained Richard Blech, CEO of Secure Channels Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, discussed how data centers of the future will be managed, how the p...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...