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Last C$0.06 CAD
Change Today -0.01 / -14.29%
Volume 21.0K
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As of 1:47 PM 10/9/15 All times are local (Market data is delayed by at least 15 minutes).

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southern silver exploration (SSV) Details

Southern Silver Exploration Corp., an exploration stage company, engages in the acquisition, exploration, and development of precious/base metals properties in North America. The company’s flagship property is the Cerro Las Minitas silver-lead-zinc property that comprises 18 concessions totaling approximately 13,700 hectares and is located to the northeast of the city of Durango in Durango State, Mexico. It also holds interests in the Oro project, a gold-silver-copper-lead-zinc property, which consist of 8 patented mining claims and 89 BLM mineral claims covering an area of 11.8 square kilometers in Grant County, New Mexico. The company was formerly known as Newcoast Silver Mines Ltd. and changed its name to Southern Silver Exploration Corp. in July 2004. Southern Silver Exploration Corp. is headquartered in Vancouver, Canada.

southern silver exploration (SSV) Top Compensated Officers

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southern silver exploration (SSV) Key Developments

Southern Silver Exploration Corp. Reports Assays Results from First Three Holes of the +10,000 Metre 2015 Core Drilling Program on the Cerro Las Minitas Project, Located in Durango State, Mexico

Southern Silver Exploration Corp. reported assays results from the first three holes of the +10,000 metre 2015 core drilling program on the Cerro Las Minitas project, located in Durango State, Mexico. Drilling successfully identified a new high-grade gold-silver polymetallic discovery on the project ("Mina La Bocona Extension") and further extensions to the previously identified Blind and El Sol Deposits. Drill hole 15CLM-078 tested the east side of the central intrusion and was collared approximately 350 metres east of the Mina La Bocona workings which were formerly mined by artisanal workers to depths of about 220 metres. The hole drilled to the southwest and into the eastern margin of the central intrusion. Mineralization identified in the hole is approximately 1.25 kilometres from the Blind and El Sol deposits. This is the only hole to have tested this new discovery to date, the dimensions of which are currently unknown. Seven separate high-grade mineralized intervals were intersected in the hole ranging from 1.9 metres to 16.5 metres (down hole thickness) including an oxidized high-grade gold zone in the upper 100 metres of the drill hole and gold-enriched massive sulphides deeper in the hole. Some intervals in the high-grade gold-polymetallic zone are strongly oxidized with poor core recovery (35-40%) and are interpreted as an enriched zone of dissolution breccia formed by the weathering of gold-enriched massive sulphide bands similar to those intersected deeper in the hole. Check assays of new pulps from the high-grade gold interval confirmed the original analyses. The deepest intercepts in this hole may be interpreted as the southern extension of the La Bocona chimney, however many of the drilled intercepts are located well outboard of the chimney and likely represent new, previously unrecognized mineralized structures. The location and position of this mineralization with respect to the Bocona chimney is similar to the spatial relationship between the Blind and El Sol deposits on the western side of the central intrusion and the historic Mina Santo Nino and Puro Corazon mines. Work by Southern Silver over the last several years has delineated the Blind and El Sol deposits to a cumulative strike length of 820 metres and up to 600 metres depth. Drilling also identified silver-enriched polymetallic mineralization down-dip and along strike of previously delineated mineralized zones in two holes which tested the Blind and El Sol deposits. This is the deepest mineralization encountered in hole 15CLM-077 and is likely +200 metre sub-vertical offset of similar strongly Ag-Pb enriched Blind Zone mineralization identified in earlier drilling. Drilling continues on the initial +10,000 metre core hole program on the Cerro Las Minitas project which is targeting known zones of mineralization and new additional discoveries on the property. Two drills are currently on the project and have completed 3,640 metres of drilling in six holes to date. The 2015 exploration program is funded through an option agreement with Electrum Global Holdings L.P., which can earn an indirect 60% interest in the property by funding staged exploration expenditures of $5.0 million over a 4 year period. In addition, approximately 46.0% of Southern Silver is controlled by Electrum Global Holdings L.P. making it fully engaged in the successful development of the Cerro Las Minitas Project. The 2015 program follows earlier exploration work by Southern Silver totaling 23,310 metres of diamond drilling in 75 core holes resulting in the identification of two new mineral deposits known as the Blind and El sol zones, airborne magnetic geophysics over the entire property and gravity and IP geophysics in specific targeted areas which will form the basis for planned exploration drilling.

Southern Silver Exploration Corp. Auditor Raises 'Going Concern' Doubt

Southern Silver Exploration Corp. filed its Annual on Aug 27, 2015 for the period ending Apr 30, 2015. In this report its auditor, Smythe Ratcliffe, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Southern Silver Exploration Corp. Starts Drilling on Cerro Las Minitas and Releases Encouraging Metallurgical Results

Southern Silver Exploration Corp. has reported that crews have mobilized and drilling is underway at the Cerro Las Minitas Property, Durango, Mexico. Up to 10,000 metres of core drilling is planned as part of the $2 million, 2015 exploration program and will target both known zones of mineralization and new discoveries on the property. An initial five holes will test the Blind and El Sol mineralized zones to up to 600 metres depth. Success in this drilling could significantly expand the depth and strike projection of these mineralized zones. Further holes will test for new zones of mineralization in the Mina La Bocona and the North Skarn zones and will test other geophysical and geochemical targets outboard of the Central Intrusion. Soil sampling in the area of the Cerro has extended sample coverage outboard of the known areas of mineralization and now covers several geophysical anomalies outlined in earlier surveys. Approximately 450 samples have been collected and submitted for analyses and include samples for several soils lines over previously identified Western and Eastern biogeochemical anomalies on the larger 137 square kilometre property; assays are pending. Further soil sampling and prospecting is proceeding over the Eastern anomalies and in several key areas along the 25 kilometre strike-length. New drill targets will be defined based on the results of this work. The 2015 program follows earlier exploration work by the Company totaling 23,310 metres of diamond drilling in 75 core holes resulting in the identification of two new mineral deposits known as the Blind and El Sol zones, airborne magnetic geophysics over the entire property and gravity and IP geophysics in specific targeted areas. Southern Silver also reported encouraging results of preliminary metallurgical testing from the Blind - El Sol Zone. Work was performed at Dawson Metallurgical Laboratories of Midvale, Utah. Testing was done on a composite of 10 samples taken from the high-grade dump at the La Lupita shaft. The head analyses of the composite returned 225g/t Ag, 0.06g/t Au, 0.11% Cu, 6.6% Pb and 5.4% Zn. Both a lead and zinc concentrates were produced via batch flotation with the following results: Approximately 82% of the silver, 86% of the lead and 12% of the zinc was recovered into the lead rougher concentrate assaying 2000ppm Ag, 61.5% Pb and 7.2% Zn. The concentrate was later upgrade to 2300ppm Ag and 71.1% Pb, and Subsequent zinc flotation recovered 79% of the zinc into a rougher concentrate at a grade of 39.5% Zn. Two-stage cleaning of the concentrate increased the grade to 49.7% Zn. These preliminary results are significant in that two separate, high-grade concentrates were produced from mined material from the Blind zone. Additional test-work is recommended utilizing different reagents in order to further upgrade the final concentrates. Samples charges of the composite have been retained and this work will be completed after the next phase of exploration on the property.


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